HomeMy WebLinkAbout1387 Floridd Nole
fixed Monthly Instaliment
MORTGAGE NOT~
~~~~pp~~p J'acksanville, Florida October 1? ,]9 6~
FOR VALUE RECEIVED~ the undersigned jointly and severally promise to pay to the order of
GULF LIFF. INSUBANCE GO~IPANY, at its office in the Gulf Life Building, Jacksonville, Florida,
or at such ather address as the holdei• from time to time may specify by written natice to maker~ the
principal sum of ~ ~ ~ ]~,~p_~~~r~rrr~~rwr~~~~~~w~~~ M
~w+r~r~~rr~~~w~~~~w ~~~I~Mw~~+~~~~w~rr~w~~rr~ DOLLA1tS~
tagether with interest at the rate of n~ ~Q per centtYm qo ) per annum on
the whole amount of said principal sum remaining from time to time unpaid, frnm date until maturity,
both aaid principal sum and interest being payable in lawful money of the United States of America
in monthly installments on the date~ and in the manner as followa :
8~,,~ ) Doilars payable on the
day of each and every month, be~inning with the ~y,~ day of ~~r , 19 , said paY-
ment each month to be applied first to th~ payment of interest then accrued on said principat sum re-
maining unpaid, and the balance applied to the reduction of said principal sum, until the whole of sald
principal sum, together with interest that ahall becorne due upon decreasing amounts thereof, shall have
been iully paid.
Option is granted to maker hercof in each year of the Iife of this mortgage note, to make, without pen-
alty, payments of $104.00 or multiples thereof, on the principal hereof, in addition to the regular month-
ly payments specified herein; provided such additional payments do not in the aggregate, exceed 15% of
the original principal sum of ~this no'te. 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-
ment~g on the principal hereof, provided that, during the first five-year period after date hereof, a penalty
of 3 Jo 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 $100.40 or multiples thereof~ or prepayment in full, may be made
~vvithout penalty.
Tf default be made in the payment of any of said monthly inatallmentst such sum or sums 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 ahall thereafter likewise bear
interest at the rate of eight per centum per annum. F~,ilure to exercise this option shall not constitute a
waiver of the right to exercise such option in the event of any subsequent default.
The makers and endorsers hereof each expressly waive presentment, protest, notice of dishonor and
notice of protest and agree to pay aal costs, including tt reasonable attorney's fee, whether suit be
bi~ought or not, if after maturity of this note or default hQreunder counsel shall be employed to collect
ihis note or $ny manthly inatallment due hereunder, and consent that the holder hereof, at the request
of any other person liable hereon, may extend the time of payment or otherwise modify the terms of pay-
ment of any part or the who:e of the debt evidenced hereby and such consent shall not alter nor dimin-
ish the liability of any per8on.
This note is secured by mortg~age on real estate of even date herewith.
~s~ G'h~rles Seip
P. O. Address: . _ (SEAL)
2]3 ~h 8t.r~rtt t~'Iee 1?. ~e~p
s/ JoAnne Sei
P -.......(SEAL)
lr+ort Piarc~i ?~o~ld~t ~ -
Ja~A~ Seip
t
Endorsers :
$ 1~,.5~ in St~te riocumentai•y st~~mps
affixecl tu origin~l Nc>te and eancclled.
FUHM NU. f214 Q(~oy ~ ~U~
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