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HomeMy WebLinkAbout0873 i . 1 ~I ~ To HAVe And To Hold the same, together with ali and singular (a) A sum equal to the ground rents, if any, next due, plus the the tenements, hereditaments and appurtenances thereunto belong- premiums that will next become~ue and payablt on policies of ing or in anywise appertaining, and the reversion and reversions, fire and other hazard insurance covering tht mortgaged property, remainder or remainders. rents, issues and profits thereof; and plus taxes and assessments next due on the mortgaged property also all the estate, right, title, interest, homestead, separate estate, (all as estimated by the Mortgagee) less all sums already paid possession, claim and demand whatscever, as well in law as in therefor divided by the number of months to elapse before one equity, of the said Mortgagor in and to the same, and every part month prior to the date when such ground rents. premiums, taxes, ?hereof, with the appurtenances of the said Mortgagor in and to and assessments will become delinquent, such sums to be held by the same, and every part and parcel thereof unto the said Mort- Mortgagee in trust to pay said ground rents, premiums, taxes, and gagee in fee simple. special assessments; and And the Mortgagor herebp co~•enants with the Mortgagee that (b) Ali payments mentioned in the preceding subsection of this he is indefeasibly seized of said land in fee simple; that he has full paragraph and all payments to be made under the note secured ~ pow~er and lawful right to convey the same in fee simple as hereby shall be added together and the aggregate amount thereof aforesaid; that it shall be lawful for the Mortgagee, at all times shall be paid by the Mortgagor each month in a single payment to peaceably and quietly to enter upon, hold, occupy, and enjoy said be applied by the Mortgagee to the following items in the order land, and every part thereof; that the land is and will remain free set forth: fram all encumbrances; that said Mortgagor will make such fur- (i) ground rents, taxes, assessments, fire and other hazard in- eher assurances to prove the fee simple title to said land in said surance premiums; ~tortgagee as may be reasonably required, and that said Mort- (ii) interat on the note secured hereby; gagor dces hereby fully warrant the title to said land, and every (iii) amortization of the principal of said note; part thereof, and will defend the same against the lawful claims of (iv) late charges. all persons whomscever. - Provided alwAys, and these presents are executed and detivered Any deficiency in the amount of sueh aggregate monthly pay- upon the following conditions, to wit: ment shaU, unless made good by the hiortgagor prior to the due The Mortgagor agre~s to pay the Mortgagee, or order, the principal date of the next such payment, constitute an event of default ;um of Thirty-six thousand th[ee hundred under this mortgage. The Mortgagee may collect a"late charge" not to exceed four cents (4¢) for each dollar (S1) of each payment f i f t y and NO/ 100------------------------ more than f fteen (1 S) days in arrears to cover the expense invoh~- ; Dollars (S 36 , 3 50.00 ed in handling delinquent payments. , as evidenced by a note of even date herewith, H~ith interest from 3. That if the total of the payments made by the Mongagor i date at the rate of Nine and one half under (a) of paragraph 2 preceding shall exceed the amount of ' payments actually made by the Mortgagee, for ground rents, taxes per centum ( 9.500 °'o), per annum on the unpaid and assessments and insurance premiums, as the case may be, i balance until paid. The said principal and interest shall be payable such excess, if the loan is current, at the option of the Mortgagor, ~ at the office of shall, be credited on subsequent a p yments to be made by the ~ First Citizens Federal Savings ~ Loan Assoc. Mortgagor, or refunded to the Mortgagor. If, however, the monthly payments made by the Mortgagor under (a) of paragraph 1600 S. Feder.al Highway 2 recedin shali not be sufficient to a ~ P 8 p y ground rents, taxes and Ft. Pierce, Florida 34950 assessments and insurance premiums, as the case may be, when ~ or at such other place as the holder of the note may designate in the same shall become due and payable, then the Mortgagor shall ~ ~~riting, in mon[hly installments of Three hundred pay to the Mortgagee any amount necessary to make up the defi- - c~ency, on or before the date when payment of such ground rents, tive and 65/100--------------------------- 305.65 ~~es, assessments, or insurance premiums shall be due. If at any E Dollars (S time the Mo~tgagor shall tender to the Mortgagee, in accordance Q commencing on the first day of March , 1990 , with the provisions of the note secured hereby, full payment of ~ and on the first day of each month thereafter until the principal the entire indebtedness represented thereby, the Mortgagee shall, and interest are fully paid, except that the finai payment of prin- ~n computing the amount of such indebtedness, credit to the ac- s cipal and interest, if not sooner paid, shall be due and payable on count of the Mortgagor any balance remaining in the funds ac- ~ che first day of February 2020 cumulated under the provisions of (a) of said paragraph 2. !f ~ there shail be a default under any of the provisions of this mort- ~nd shall duly, promptly, and fully perform, discharge, execute, gage resulting in a public sale of the premises covered hereby, or ~ effect, complete, and comply with and abide by each and every if the Mongagee acquires the property otherwise after default, the ~ the stipulations, agreements, conditions, and covenants of said Mortgagee shall apply, at the time of the commencement of such promissory note and of this mortgage, then this mortgage and the proceedings, or at the same time the property is otherwise ac- estate hereby created shaU cease and be null and void. quired, the balance then remaining in the funds accum~lated And the Mortgpgor further covenants as follows• under (a) of paragraph 2 preceding as a credit against the amount ' of principal then remaining unpaid under said note. i. That he will pay the indebtedness as hereinbefore pro~~ided. Vrivilege is reserved to pay the debt, in whole or in part, on any 4. That he w•ill pay all taxes, assessments, water rates, and other ~nstallment due date. governmental or municipal charges, fines, or impositions, for which provision has not been made hereinbefore, and in default ~ 2. That, in order more fully to protect the security of this mort- thereof the h4ortgagee may pay the same; and that he will ~ eage, the Mortgagor, together with, and in addition to, the promptly deliver the official receipts therefor to the Mortgagee. ~ rnonthly payments under the terms of the note secured hereby, on the first day of each month until the said notc is fully paid, will ~ ~ pay to the ;1lortgagee the following sums: • ~ ~ ~ ~ - eoacs74 ~acE 87~ ~ Page 2 of 4 HU~-92110M-1 ~ ~ • . :a ~r _ ~ g e~ ~ s-- _-r ~,-.~,~;;~,-s, ::Y.= ~ ` ~