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HomeMy WebLinkAbout1311 f'RO~'ll)E=D Al-~~'A1'S that it the \turtg~+gur tihall pa~ untu th~ \IurtK:?gec that iertain promi„un• note, oi ~~hi~h ihe fullu~~ing i~ a~ub,t3ntiai ~opy, to Hit: g 110,0~A.00 ST. LUCI E , Flurida. JANUARY 19 . 19 9@ FOR ~'ALl1E RECEIVED, the undersignrd promise(s) to pay to GDV FINANCIAL CORPORATION , a corporation organized an~ existing under the law~s of THE STATE OF FLORIDA , or order, the principal sum of ONE HUNDRED TEN THOUSAND AND N0~100--- Dollars ~g 110,000 .00~, ~vith interest from dare at the rate of NINE & ONE HALP centum ( 9. 50 ~'o) per annum on the unpaid balance until paid. The said principal and interest shalt be pa~~able at the of(ice of GDV FINANCIAL CORPORATION in MIAMI ~ FLORIDA 33133 , or at such other place as the holder may designate in writing delivered or mailed to the debtor, in manthly installments of NINE HUNDRED TWENTY FOUR AND 94/100--- Dollars (g 924.9~, commencing on the first day of MARCH . 19 9QJ and continuing on the first day of each month thereafter until this note is fully paid, except that, if not sooner paid, the final payment of principal and interest shall be due and payable on the first day of FEBRUARY • 2020 Pri~~ilege is reser~~ed 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 dollars (SI00.00), whiche~~er is less. Prepayment in full shall 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 or thirty days after such prepayment, whichever is earlier. If any deficiency in the payment of any installment under this note is not made good prior to the due date of the next such installment, the entire principal sum and accrued interest sha11 at once become due and payable without notice at the option of the holder of this note. Failure to exercise this option shatl not constitute a waiver of the right to exercise the same in the event of any subsequent default. ln the event of default in the payment of this note, and if the same is callected 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 maney actually used for the acquistion of said properCy or the improvements thereon. - Presentment, protest, and notice are hereby waived. < <yf~, G' ~[SEAL) HN A. LIETAE ~ c,~ _ [SEALJ / c / [SEALJ ~ i / c / _ [SEAL) ~I ~ And shall duly, promptly~, and fully perform, discharge, execute, effect, complete, and comply a~ith and abide by each i ~ a?~d e~ery the stipuiations, agreements, conditions, and covenants of said promisson~ note and ot this mortgage, then this R mortgage and the estate hereby created shal4 cease and be nuli and ~~oid. The Mortgagor funher covenants as follows: i I. That he/she will pay the indebtedness, as hereinbefore provided. Privi[ege is resen~ed to prepay at any time, w+thout premium or fee, ttie entire indebtedness or any part thereof not less than the amount of one installment, or one hundred ~ dollars ISI00.00), whichever is less. Prepayment in full shall be credited on the date received. Partial prepa>~ment, other ~ than on an installment due date, need not be credited until the next folloµ~ing installment due date or thirty days after such prepay- ~ ment, whichever is earlier. ~ 2. ln order more fully to protect the securic}• o` this mortgage, the Mortgagor, together with, and in addition to, the r monthly payments under the terms of the note secured hereby, on the first day of each month until the said note is full~~ paid, ~ti~ill pay to the Mortgagee, as trustee, (u~der the terms of this trust as hereinafter stated) the following sums: ~ ~ (a) A sum equal to the ground rents, iC any, next due, plus the premiums that w~ill next become due and payabfe on ~ policies of fire and other hazard insurance covering the morteaged property, ptus taxes and assessments n~st du~ ~ on the martgaged property (all as estimated by the Mortgagee and oi which the Mortgagor is notifiedl less all sums ~ already paid therefor di~~ided by the number of months to elapse before one month prior to the date w~hen such ground rents, premiums, taxes, and assessments w~ill become delinquent, such sums to be held by Mortgagee in ~ trust to pay said ground rents, premiums, ta.r•es, and special assessments. (b) The aggregate of the amounts pa}'able pursuant to subparagraph (a) 2nd those payable on the note secured hereh~~, sha4t be paid in a single pa}~ment each month, to be appleed to the Folloµing items in the order stated: (1) ground rents, taxes, assessments, fite, and other hazard insurance premiums; (II) interest on the note secured hereby; and ` (tll) amortization of the principal of said note. ~ j Any deficiency in the amoLnt of such aggregate monthly payment shall, unless made good by the Mortgagor prior _=°~i to the due date of the next such payment, constitute an event of default under this mortgage. At Mortgagee's option, Mor- ~ - t~agor will pay a"late charge" not exceeding four per centum (4~io) of an installment when paid more than fifteen (IS) ~ ~ days after the due date thereo~ to cover the extra expense involved in handling delinquent payments, but such "late charge" iui`J shal{ not be payable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds ~ are sufficient to discharge the entire indebtedness and at{ proper costs and expenses secured thereby. ~ 3. [f the total of the a~ments made by the !~1ort a or under (a) of para ra h 2 recedin shall exceed the amoun~ ~ ,Y P.' 88 8 P P l of payments actualiy made by the Mortgagee, as trustee, for ground rents, taxes and assessrnents, and insurance premiums. ~ `a as the rase map be, such excess shall be rredited on subsequent payments to be made by the h1artgagor for such items or, at Mortgagee's option, as tFUStee, shali be refunded to htortgagor. If, however, such monthly payments shall not be suffi- 'ciene t~ pay surh items when the same shaN become due and payable, then the Morigagor shall pa}~ to the Mortgagee, as t,ustee, any amount necessary• to make up thede(iciency~. Such payment shali be maJe ~.~.~t~~i~; ~z~a e;;•>, ;,t~~r •,~r~~~,r: . K.,. - ~ _ ~ _~___~._____~a