HomeMy WebLinkAbout0013 I'RO~'IVED AL~1'Al'S that if the ~lurtgagor shall pay unto the ~tortg~~gre that certain promi,~~~ry note, of whi~h
the ioUo~ing is a substantial rop}~, to Hii:
577,304.00
STUART , ~~orida.
JANUARY 19 , ~y 90 .
FOR VALUE RECEIYED, the undersigned promise(s) to pay to
ATIERIFIRST T10RTGAGE CORPORATION
, a corporation organized ar.d existing under the laws of THE STATE OF FLORIDA
, or order, the principal sum of -------------------------SEVENTY SEVEN THOUSAI~~D THREE
f{UNDRED FOUR AI~TD 00/100--------------------------------------------Dollars
(S---77, 304.00---- with inrerest from date at the rate of NIN~ ANB UN~: HALF ~r
centum ( 9. 50 ?~o) per annum on the unpaid balance until paid. The said principal and interest shall be ayable
at the office of AMERIFIRST MORTGAGE CORPORATION, 11800 S. W. 14iTH AVEN~,
P.O. BOX 026029, MIA?~tI, FLORIDA 33102-6029
, or at such other place as the holder may
desi nate in writin delivered or mailed to the debtor, in monthl
8 B y installments of ~
--------SIX HUNDRF,D FIFTY AND 02/100-------------------------------Dollars
(5----650.02-------- c~mmencing on the first day of MARCH , ~q 90 , and continuing on
the first day of each month thereafter until this note is fully paid, except that, if not sooner paid, thr final payment of,pri c~',pal
and interest shall be due and payable on the first day of FEBRUARY ~ LO~U
Privilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof not
less than the amount of one instaliment. or one hundred dollars (5100.00), whichever is less. Prepayment in full shall be
credited on the date recei~~ed. Partial prepayment, other than on an instailment due date, need not be credited until the
next follo«~:~g installment due date or thirty days after such prepayment, whichever is earlier.
lf any deficiency in the payment of any installment under this note is not made good prior to the due date of the next
such instaliment, the entire principal sum and accrued interest shall at once become due and payable without notice at the
option of the holder of this note. Failure to exercise this option shall not constitute a waiver of the right to exerc~se the
same in the event of any subsequent default. In the event of default in the payment of this note, and if the same is collected
by an attorney at law, the uridersigned hereby agree(s) to pay all costs of collection, including a reasonable attorney's fee.
This note is secured by mortgage of even date executed by the undersigned on certain property described therein and
represents money actually used for the acquistion of said property or the improvements thereon.
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' Presentment, protest, and notice are hereby waived.
' /s1 Josenh Zovolo [SEAL]
JOSEPH ZOVOLO
! 1s/ riaureen J. Zovolo [SEAL)
~tAUREEN J. ZEVOLO
~ [SEAL]
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; [SEAL]
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; And shall duly, promptly, and ful(y perform, discharge, execute, effect, complete, and comply with and abide by each
f and e~~er}~ the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then this
! mortgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants as follows:
i 1. That he/she ~ti~ill pay the indebtedness, as hereinbefore provided. Privilege is reserved to prepay at any time, without
° premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred
~ doliars l5100.00), w•hiche~~er is iess. Prepayment in ful! shaH be credited on the date received. Partial prepayment, other
~ than on an installment due date, need not be credited until the next following installment due date o: thirty days after such prepay-
~ ment, whichever is earlier.
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~ monthly payments under the terms of the note secured hereby, on the fr~t day of each month until the said note is full~•
~ paid, w~ill pa~• to the Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) the follo~ving sums:
~ la) A sum equal to the ground rents, if any, next due, plus the premiums that ~~ill next become due and payable on
poficieti of fire and other hazarc! insurance ro~e~ing the mortgaeed property, plus taxes and assessments next due
on the morteaged propert~~ (a!I as cstimated b~• the h1ort~agee and of ~chirh the :~tortgagor is notified} IFSS all sums
` alread~ paid therefor di~ided b~~ the number of months to elapse before one month prior to the datc ~~hen such
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3 ~round rents, premiums, ta~es, and assessments ~+•ill become elelinquent, such sums to be held b} ~tortgagee in
trust to pay said ground rents, premiums, tares, and speciai assessment5.
Ib) The aggregate of the amounts pa~~ablc pursuant to subparagraph (a) and those pa~~able on the note secured hereb~~,
shall be paid in a single payment each month, to be applied to th~ follc~wing items in the order stated:
(1) ground rents, taxes, assessments, fire, and other hazard insurance premiurr~s;
(II} interest on the note secured hereby; and
(III) amortization of the principal of said note.
Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the ;~1ortgagor prior ~
to the due date of the next such payment, constitute an event of default under this mortgage. At Mortgagee's option, Mor- ~
: tgagor will pay a"late charge" not exceeding four per centum (4%) of an installment when paid more than fifteen (!5)
` cia~~s after the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" ~
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~hall not be payable out o( the proceeds of any sale made to satisfy the indebtedne~s secured hereby, unless ~uch proceeds
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x are sufficiem to discharge the entire indebtedness and all proper costs and expenses secured thereby.
3. If the total of the pa}~ments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount
of payments actually made by the Mortgagee, as trustee, for ground rents, tares and assessments, and insurance premiums, ~
a~ the rase may b~, such excess shall be credited on subsequent payments to be made by the Mortgagor for such items or,
at ~tortgagee's option, ~s trustee, shall be refunded to Mortgagor. If, how~ever, such monthly payments shall not be suffi- °cn
cient to pay such items when the same shall become due and payable, then the Mortgagor shall pay t~ the Mortgagee, as
trustee, any amount necessary to make up the de~ciency. Such payment shall be m~de ~~i~+:r;~ rh;rr~ ,;a•,•. :itter ~~i~i:_n
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