HomeMy WebLinkAbout1879 1'12O\'ll)EL) AL~~'A1'S that if the \lurtgugar ~hall pay unto the ~tortgagrc that ~ertain ~n>mi~,ur~ note. ~~f ~~hich
~h~ tullu~~ing is a sub~tantial cop}, to ~~il:
~ 49,106.00
Port St . Luc.ie , Florida.
January 26 , 19 90 .
I~OR ~'ALUE RECEIVED, the undersigned promi~e(s) !o pa~• [o
RESUURCE AMERICA MORTGAGE, INC.
, a rorpor~tion organized and existing under the laws of
, or order, the principal sum of
Forty Nine Thousar~d One Hundred Six Dollars & No/100 Dollars
49 , 106 . 00 w~~h interest from date at the rate of N1ne & one hal f
rentum ( 9• 5 a'o) per annum on the unpaid balance until paid. The said principai and interest sh~ll t~e papable
at the oftice of RESOCRCE AMERICA MORTGAGE, INC.
1700 66th. STRE~T, S. 300
in ST. PETERSBURG, FL 33710-5510 , or at such other plare as the holder may
de~ignate in w•riting deli~~ered or mailed to the debtor, in monthly installments of
Four Hundred Twelve Dollars & 911100 Dollars
(g 412 . 91 commencing on the frst day of March , 19 90 , and continuing on
the first day oi 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.
Privilege is reserved to prepay at any time, withaut premium or fee, the entire indebtedness or any part thereof not
less than the amount of one instaflment, or one hundred dollars (5100.00), w~hichever is less. Prepayment in full shafi be
credited on the date ~eceived. 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 instaltment, the entire principal sum and accrued interest shalf 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 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
b~• an attorney at law, the uridersigned hereby agree(s) to pay all costs of coliection, 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 os said property or the improvements thereon.
Presentment, protest, and notice are hereby H•aived.
j S J DONNA P. .r. . ~sEA~J
DONNA P. FELL
- [SEALJ
Documentary Tax has been paid
and proper stamps have been
affixed to the mortgage. (SEAL]
~
i _[SEALj
~
And shall duly, promptty, and full~~ perform, discharge, execute, effect, complete, and comply w~ith and abide t~y each
and e~er}~ the stipulations, agreements, conditions, and covenants of said promissory note and of this mortgage, then this
martgage and the estate hereby created shall cease and be null and void.
The Mortgagor further covenants as folloKS:
1_ That he/she will pay~ the indebtedness, as hereinbefore pro~~ided. Privilege is reserved to prepay~ at any time, w~ithout
~ premium or fee, the entire indebtedness or any part thereof not less than the amount of one installment, or one hundred
`s
g dollars IS100.00), ~vhiche~er is less. Prepa~•ment in full shall be credited on the date received. Partial prepa~~ment, other
~ than on an installment due dare, need ~ot be credited until the next following installment due date or thirty days after such prepay-
6 ment, ~~hichever is eartier.
~
~ 2. In order more fully to protect the security of this mortgage, the 1~lortgagor, together with, and in addition to, the
s munthi~~ payments under the terms of the note secured hereby, on the tirst day of each month until the said note is full~
6 raid, ~ill pa~~ to the Mortgagee, as trustee, (under the terms of this trust as hereinafter stated) the following sums:
~ ~a) A sum equal to the ground rents, if any, next due, plus the premiums that Hill next be~~ome due and payable on
policies of fire and other hazard insurance co~ering the mortgaged property, plus taxes and assessments next due
on t;~e mortgaged propert~• (all as .stin~ated by the ~1ortgagee and of which the ti1ortgagor is notified) iess all sums
~ already~ paid therefor di~~ided b~~ the number of months to elapse before one month prior to the date when such
' ground rents, premiums, taxes, and assessments ~cill become delinquent, surh sum~ to be held b~~ ti1or!gagee in
trust to pay said ground rents, premiums, taxes, and special assessments.
Ih1 The ag~regate of the amoun[s pa~able pursuant to sub~aragraph (a) ansi those pay~ahle on the note ~erured hereby.
~hall he paid in a single pa~ment cach month, to be applied to the ft~ll~wing items in the order ti[ated:
(Ij ground rents, taxes, assessments, fire, and other har.ard irisurance premiums:
({I) interest on the note secured hereby; and
(IIf) amortization of the principal of said nute.
An~• deficiency in the amount of such aggregate monthlp payment shall, unless made good by the :19ortgagor prior ~
' to the due date of the next such pa}•ment, constitute an e~~ent of de(ault under this mortgage. At Mortgagee's option, ~tor- 4,,
tgagor ~sill pay a"late charge" not exceeding four per centum (4°'0) of an installment when paid more than fifteen (1S) ~
` da~~s after the due date thereof to cover the extra expense involved in handiing deiinquent payments, but such "late charge" ~
r
~ ~hall not be pay~able out of the proceeds of an~~ sale made to satisfy the indebtedness secured hereb}~, unless such proceeds ~
~ are ~ufficient to discharge the entire irdebtedness and ail proper costs and expenses secured thereby.
~ 3. If the total af the pa}•ments made by the 1lortgagor under (a) of paragraph 2 preceding shall exreed the arnount Qo
` of ~a~ ment~ arwall~ made b~ the ~1ortgagee, as trustee, for ground rents, taxes and assessments, and insurance premiums, c°~
as the ca~e ma~ be, surh e~cess shall be credited on subsequent payments to be made by the ;11ortgagor for such items or,
at ~tort~agre'~ option, ati trustee, shall be refunded to `tortgagor. If, ho~e~er, such monthly payments shall not be suffi-
~icnt to pac wrh itemt ~hen the same shall becon~e due and payabl" then the ~1~~tgagor shall ra} to the ~1c~ngagee, a~
~w tru~tee, any~ amount neressar~~ to make up the deficiency. Such pavmem shall be mact; , r!~; ,
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