HomeMy WebLinkAbout2938 To N~ve And To No{d the same, together witfi alf and singutar (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 due and payabfe on policies of
ing or in anywise appertaining, and the reversion and reversions, fire and other hazard insurance covering the mortgaged property,
remainder or remainderc, rentc, issues and profts thereof; ar.~ p!:~s taxes and ass:,:~r.:c:.:~ ~ext due or~ iiic iuurigageci proper[y
also all the escate, right, title, interest, homesttad, xparate tstatr, (afl as estimated by the Mortgaga) less all sums already paid
possession. claim and demand whatsoever, as well in faw as in therefor divided by the number of months to elapx before one
equity, of the sa.id Mortgagor in and to the same. and every part month prior to the date when such ground rents. premiums, taxes,
thereof, with the appurtenances of the said Mongagor in and to and assessments will become delinquent, such sums to be held by
the same, and every part and parcel thereof unto [he said Mort- Mongagee in trust to pay said ground rents, premiums, taxes, and
gagee in fee simple. special assessments; and
And the Mortgagor hereby covenants with the Mortgagce that (b) All payments mentioned in the preceding subsection of this
he is indefeasibiy seized of said tand in fee simple: that he has full paragraph and all payments to be made under the note secured
power and lawful right to convey ihe same in fee simple as hereby shall be addtd together and the aggregate amount thereof
aforesaid; that it shall be lawful for the Mortgaga, 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 fallowing items in the order
land, and every part thereof; that the land is and will remain iree set forth:
from all encumbrances; that said Mortgagor will make such fur- (i) ground rents, taxes, assessments, fire and other hazard in-
ther azsurances to prove the fee simple title to said land in said surance premiums;
tilongagee as may be reasonably required, and that said Mort- (if) interest on the note secured hereby;
gagor dces hereby fully warrant the tit{e to said land, and every (i~) amortization oE the Principal of said note;
pare thereof, and will defend the same against the lawful claims of (lv) late charges.
all persons whomscever.
- Provided always, and these presents are executed and delivered Any deficiency in the amount of such aggregate monthly pay-
upon the following conditions, to wit: ment shall, uniess made good by the Mortgagor prior to the due
The Mortgagor agrees to pay the Mortgagee, or order, the principal date of the next such payment, constiEute an event of default
sum of Forty Seven Thousand Seven Hundred Ninet~lnder this moRgage. 1'he Mortgagee may collect a"late charge"
not to excced four cents {4e) for each dollar (S1) of each payment
E Nine and NO/100----------------------
~ 47, 799.00 more than fiftan (IS) days in arrears to cover the expense involv-
DoUars (S ed in handling delinquent payments.
€ as eviden:ed by a note of even date herewith, with interest from 3. That if the total of the Fayments made by the Mortgagor
! date at the rate oi' Ten and NO/ 100------T--------- under (a) of paragraph 2 preceding shall exceed the amount of
~ payments actually made by the Mortgagee, for ground rents, taxes
per centum ( 10.00 ~;o), per annum on the unpaid and assessments and insurance premiums. as the case may be,
c balance until paid. The said principal and interest shall be payabte such excess, if the loan is current, at the option of the Mortgagor,
P at the office of Riverside National Bank of Floridashall, be credited on subsequent payments to be made by the
' Ft. Pierce, FL 34950 Mortgagor, or refunded to the Mongagor. If, however, the
monthly payments made by the Mortgagor under (a) of pazagraph
2 preceding shall not be sufficient to pay ground rents, ta~ces and
assessments and insurance premiums, az the case may be, when
' or at such other place as the holder of the note may designate in che same shall become due and payabie, then the Mortgagor shall
~ writing, in monthly installments of Four Hundred Nineteen Fay to the Mortgagee any amount necessary to make up the defi-
~ ciency~ on or before the date when payment of such ground rents,
~ and 48/ 100---------------------------- i~~~ ~~ssmgn~ , or insurance premiums shall be due. If at any
Dol{ars (S 419. 48 time the Mort a or shall tender to the Mortgagee, in accnrdance
v.:~:v~w v~ u~c uvQc ~uiCU i1C[COY, iuii payment oi
~ commencing on the first day of Ma.-~h , i9 ~n ,::~:th iht '
~ and on the first day of each month thereafter until the principal the entire indebtedness repres~nted thereby, tht Mortgagee shall,
and interest are fully paid, except that the final payment of prin- ~n computing the amount of such indebtedness, credit to the ac-
~ cipal and interest, if not sooner paid, shall be due and payable on count of the Mortgagor any balance remaining in the funds ac-
~ cumulated under the provisions of (a) of said paragraph 2. If
the first day of February , 2020 • there shall be a defautt under any of the provisions of this mort-
~ And shall duly, promptly, and fuily perform, discharge, execute, gage resulting in a public sale of the premises covered hereby, ur
a et'fect, compiete, and comply with and abide by each and every if the Nlortgagee acquires the property otherwise after default, the
~ the stipulations, agreements, con~iit'sons, and covenants af said Mortgagee shall app{y, 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 shall cease and be nutl and void. quired, the balance then remaining in the funds accumulated
And t6e Mortgagor further covenaots as folloRS• under (a) of paragraph 2 preceding as a credit against the amount
• of principaf then remaining unpaid under said note.
i. That he will pay the indebtedness as hereinbefore pr~vided.
Privilege is reserved to pay the debt, in whole or in part, on any 4. That he will pay al! taxes, assessments, water rates, and other
instailment due date. governmental or municipal charges, fines, or impositions, for
which provision has not been made hereinbefc,re, and in default
2. That, in order more fully to protect the security of this mort- thereof the Mortgagee may pay the same; and that he witl
gage, tfie MorlRaROt, toaether with~ and in ae~rfi~i~n r~, rhP ~,;;,;;;N~;y u.ii~e~ ii~c oinciai receip[s tneretor to the Nlortgagee.
monthly paycr~ents under the terms of the note secared hereby, on
the first day of each month until the said note is fully paid, will
; pay to the Mortgagee the following sums: • ,
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