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P.orido Not.
flx.d Monthly Installment
MORTGAGE NOTE
$ JJ1,5ooeoo
Jacksonville, Florida April
/3(!!
1961
,
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of
GULF LJ1;"E INSURANCE COMPANY, at ita office in the Gulf Life Building, Jacksonville, Florida,
or at suet. ' ther addre88 as the holder from time to time may specify by written noticf' to maker, the
principal sum of
JOm-1BYBII ft<JUA1IJ) rm JIV)D)DI) AID 110/100.----------- DOLLARS.
together with interest at the rate of a1ll and 1/4 per centum (6t ro) per annum on
the whole amount of said principal sum remaining from time to time unpaid, from date until maturity,
both said principal sum and interest being payable in lawful money of the United States of America
in monthly iIlBtallments on the dlltE:s and in the manner as follows ~ ~ur Hundred Seven and
31/100-------..------- ($ 4(1f. 31 ) Dollars payable on the first
day of each and every month, beginning with the lat day of June , 1961 , said pay-
ment each month to be applied first to the payment of interest then accrued on said principal sum re-
maining unpaid, and the balance applied to the reduction of said principal sum, until the whole of said
principal sum, together with interest that shall become due upon decreasing amounts thereof, shall have
beEn fully paid.
Option is granted to maker hereof in each year of the life of this mortgage note, to make, without pen-
alty, payments of $100.00 or multiples thereof, on the principal hereof, in addition to the regular month~
ly payments specified herein; provided such additional paymenro do not in the aggregate, exceed 15 % of
the original principal sum of this note. The right to exercise such option is non-cumulative and if the
option is not exercised or not exercised in full in a particular year, such additional payments permitted
in such year cannot be made in any subsequent year. Maker also shall be entitled to make further pay-
ments on the principal hereof, provided that, during the first five-year period after date hereof, a penalty
of 3 % shall be charged on any such payments in any year in excess of regular monthly payments and
payments aggregating 15% of the original principal sum in any such year. After five years from the ~
date hereof, additional payments of $100.00 or multiples thereof, or prepayment in full, may be made
without penalty.
If default be made in the payment of any of said monthly installments, such sum or SU:t1S shall there-
after bear interest at the rate of eight per centum per annum until paid, and, at the option of the holder
hereof, the entire principal sum then remaining unpaid with accrued interest shall immediately become
due and payable without notice (time being of the essence hEreof) and s~all thereafter likewise bear
interest !l.t the rate of eight per centum per annum. Failure to exercise this option shall not cO:lstitute a
waiver of the right to exercise such option in the event of any subsequent cefault.
The makers and endorsers hereof each expreasly waive presentment, prot..est, notice of dishonor and
notice of protest and agree to pay all costa, iDcluding a reasonable attorney's fee, whether suit be
brought or not, if after maturity of titis note or default hereunder counsel shall be employed to collect
this Iiote or any monthly installment due hereunder, a:1d COIlBent that the holder hereof, at the request
of any other person liable hereon, may extend th3 time of payment or otherwise modify the terms of pay-
ment of any part or the whole of the debt evidenced hereby and such consent shall not alter nor dimin-
iah the liability of any parson.
Tbi.a note 18 MCUred by mortgage on real estate of even date herewith.
P. O. Addreoa: ."L;"~~---~"..."" (SEAL)
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S ~M~ ~:ATr. DOCU:.\fNIAr'Y
IXEOAND (ANCELL'
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Dorot A.
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