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HomeMy WebLinkAbout1566 1'FtO\'IUt~.I) :V.\\'A1'S that il the Mottgagor ,tial{ pa} unto thc ~f~~ngagr~ that ~ertain promi»or~ nutr, of ~~hi~h ~he IuUc~~~ing i, a,uhst~ntial rop~•, to ~~it: ~ 73,102.00 PORT ST. LUCIE , t~loricia. JANUARY 26 .19 90~ FOR ~'ALUE RECEIVED, the undersigned promise(s) to pay to RESIDENTIAL MORTGAGE SERVICES, INC. , a corporation organized and eristing under the laws of THE STATE OF FLORIDA , or order, the principal sum of SEVENTY-THREE THOUSAND ONE HUNDRED TWO AND KO/100 Uollar ~g 73, 102.00 with interest from date at the rate of NINE per ~emum ( 9. 000 ~o) per annum on the unpaid balanre until paid. The ~aid principai and interest shatl be payablc at the office of RESIDENTIAL MORTGAGE SERVICES, INC. 6702 1j2 STIRLING ROAD HOLLYHOOD, FLORIDA 3302~ , or at such other plare as the holder ma}• designate in ~vriting delivered or maifed to the debtor, in month{y instalirnents oi FIVE HU~IDRED EIG!iTY-EIGHT AND 47/ i00 Dollars 58a.47 commencing on the tirst day of KARCH , 19 90 , and continuing on the first day of each month thereafter until this note is fully paid, except that, if not sooner paid, the finat payment of principal and interest shall be due and payable on the first day of FEBRUARY , 2020 . Pri~~ilege is reserved to prepay at any time, without premium or fee, the entire indebtedness or any part thereof not le+s than the amount of one installmer~t, or one hundred dollars (S1C10.00), whichever is less. Prepayment in full shall be credited on the date recei~~ed. Partial prepayment, other than on an installment due date, need not be credited until the ne~t foliowing installment due date or thirty days after such pr~payment, whichever is earlier. If any deCciency in tfie payment of any~ instaffinent under tfiis note is not made good prior to the due date oP the next such installment, the entire principal sum and accrued interest shall at once become due and payabfe 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 exercise 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 undersigned hereby agree(s) to pay all costs of collection, including a reasonable atcorney's fee. This note is secured by mortgage of even date executed by the undersigned on certain property described therein and represents money actuall~~ used for the acquistion of said property or the improvements thereon. Presentment, protest, and notice are hereby waived. _jS~ NIGHOLAS YIALAXONZS (SEALJ NICHOLAS KALAxONIS .~y! ~lTRC7NZA MA?.AXCIEITS (SEAL] VIRGINIA MALAxONIS (S~AL] ~ ~ _ [SEALj I' And sha11 dul~~, prompt{y, and iully perform, discharge, execute, eftect, complete, and comply ~~ith and abide b~• each ~ and e~er~• the stipulations, agreements, conditions, and co~enants of said promissor~• note and of this mortgage, then this i mortgage and the estate hereby created shall cease and be nutl and ~~oid. The Mortgagor further co~•enants as follow•s: : 1. That he/she ~~ill pay the indebtedness, as hereinbefore pro~•ided. Privilege is reser~~ed to prepa~~ at any~ time, ~~ithout premium or fee, the entire indebtedness or any part thereof not less tha~ the amount of one instailment, or one hundred 5 dollars (5100.00), ~~hiche~er is less. Prepa}~ment in full shall be credited on the date received. Partial prepayment, other ~ than on an installment due date, need not be credited untiE the next following installment due date or thirty day~s afrer such prepay- ment, whiche~~er is earlier. ~ 2. t~s order more fully to protect the ~ecurit~~ of this mortgage, the titortgagor, together w~ith, and in addition to, the € montht~• payments under the terms of the note secured fiereby, on the first day of each month until the said note is fulf~~ ~ naid, wili pa}~ to the :~tortgagee, as trustee, (under the terms of this trust as hereinafter stated) the following sums: t ~a) A sum eyual to the ground rents, if an}~, next due, plus the premsumc that ~~ill next become due and payable on poliries of fire and other harard insurance ro~~ering the mortgaged property, plus tazes and assessments next due ~ on the mortgaged propert~~ (all as estimated b} the Mortgagee and of w~hi~h the 4lortgagor is notified) less all sums ~ alread~• paid therefor di~idcd b}~ the nurnber af m~nths to elapse before one month prior to the date ~~hen su~h ~ ground rents, premiums, taxes, and assessments will become delinquent, surh sums to be held b~ ~tortgagee in ' trust to pa~~ said ground rents, premiums, ta~e~, and ~pecial as~etisments. (b) The ager~gate of the amount~ payable pursuant to subparagraph (a} and those ~a~~abfe or~ the note >erured hereb}, ~ttall be paid in a tiingle pa}ment eaclti month, to be applied to the follo~~ine items in the order ~tated: (1) ground rents, taxes, assessments, fire, and other hazard insurance premiumc: (I1) interest on the nore secured hereby; and (I11) amortization of the principal of said note. An}~ defiriency in the amount of such aggregate monthly paymert shall, unless made good by the ~1ortgagor prior ~ °E to th~ due date of the next such payment, constitute an event of default under this mortgage. At 4lortgagee's option, Mor- ~ tgagor wilt pa~~ a"lare charge" not exceeding four per centum (4~'0) of an installment when paid more than fifteen (IS) ~ ~ da~s after the due date thereot to co~~er the extra expense in~~~h~ed in handling delinquent payments, but such "late charge" ~ ~ ,hall not t~e pa~~able out of the proceeds of am~ sale made to satisfy the indebredness secured hereb~~, uniess such proceeds ~ ~ are suffirient to discharge the entire indebtedness and a{{ proper costs and expenses secured thereby. ~e.. ~ i. If the total of the pa~~ments made b}• the'~tortgagor under (a) of paragra}~h 2 prereding shalt e~reed the amount ~ ~ <if nd~ment~ artuall}~ made b~ the ~lortgagee, as trustee, for grou~d rer.ts, taxes and as5cstimenls, and insurance premiums, ~o a. ?he ca~e ma~ be. ~urh e~cess shall be credited on subsequent payment~ to be made by the ~tortgagor for such items or, om at ~lurtga~ce'~ op~ion, a~ trustec. ~hall be refunded io ~tortgagor. It~, ho«e~er, ~urh monthh payment~ shall not be ~u(fi- ' rieni to ra~ ~uch items ~shen the ~ame ~hall he<<~mc due and ra}ahle, then it~r \1~~rt~agur ~hall na~ ti~ the ~tc~rtgagec. a~ ~tru,tce. an~ amount nete~•ar~ to ?na~,e u~ th~• clrli~ien:~. Surh na~ment ~h:ill h, ni,~,l~ , ~ ~ ~ , ,~..e:_ ~ N, - - x "