HomeMy WebLinkAbout1424 Rorida Not~
Fix~d Monthir I~sroilmen!
MORTGAGE 1'VOTE
$ u~~pp.pp Jacksonville, Florida ~ ~ , 19 ~5
FOR VALUE RECEIVED, the undersigned jointly and severally promIae to pay to the order of
GULF LI~'E INSUKANCE COMPANY~ at its office in the Gulf Life $uilding~ Jacksonville, Florida,
or at such other address as the holder from time to time may specify by written notice to m~ker, the
principal sum of g,a~ ~p ~p ~~ypp w~~~w,rw~~~a~~r?~~~~~s~~~~~
rrwr~r~~r~~r~r~~~~~~w~{~'~~~}~~~~~w~~w~wa~~w~~~~~r~~~~~~~~~r~~i~~~r~~~o~~~era LVL1JC111~1.7~
together with interest at the rate of nt~ ~d 'Mh~-~ per centum (~-3~~ per annum on
the whole amount of said principal sum reanaining from time to time unpaid, from date until maturity,
bath said principal sum and interest being payable in l~wful money of the United States af America
in monthly installments on the datea and in the manner as follows :
95.50 ) Dc,llars payable on Lhe
daq of each and every month, beginni;~g with the li~7t day of ~b~Y'Y ~ 19 said pay-
ment each month to be applied first tn the payment of interest then aecrued on said principal aum 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 fullq paid.
Option ia granted to maker hereof in each year of the life of 4his mortgage note~ to make, without pen-
alty, paymen~9 of $100.00 ar multiples thereof, on the princigal hereof, in addition to the regular inonth-
ly payments specified herein; provided such additional payments do not in ~he aggregate, exceed 16qo o!
the original principal sum of this note. The right to exercise such option is non-cumatatiae and if the
option ia no~ exercised or not exercised in full in a particular year~ such additional payraents permitt~d
in such year cannot be made in any subs~quent year. Maker also ahall be entitled t+o make further pay-
ment~a an the principal hereof, provided that, during the first five-year period after date hereof, a penalty
of 3~a ahall be chargeci on any such paymenta in any year in excess of regular mon~hly payments and
payments aggregating 16% of the original principal sum in any guch year. After five years ~rom the
date hereof, additional payments of $100.00 or multiples thereof, or prepayment in fuU, may be made
without penalty.
If default be made in the payment of any oP ~sid monthly inatallments, such sum or sums ahall there-
after bear interest at the r~te 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) snd shall thereafter likewiae bear
interest at the rate of eight per centum per annum. F~,ilure to exercise this option shall not conetitute a
waiver of the right ta exercise auch option in the event of any subsequent default.
~'he makers and endorsera hereof each expressly waive preaenttz~ent, protest, notic~ of dishanor and
notice of proteat and agree to pay all costs, including a reaaonable attorney's fee, whether auit be
brought or not, if after maturity of thia note or default hereunder counsel shall be employed to collect
ihis note or any Ananthly inatallment due hereunder, and consent that the holder hereof, at the requeat
of any other person liable hereon, may extend the time of payment ar otherwise modify the termg of pay-
ment of any part or the whole of the debt evidenced hereby and such conaent shalt not alter nor dimin-
ieh the liability of any ~peraon.
Thi9 note is secured by mortgage on re~l estate of even date herewith.
P. 0. Addresa: ~s~ I,ouis E. Crane (SEAL)
_
I4uio ~o Crattis
~ ~s~ Irene Rs Crane (SEAL)
~i~iet--R.--C~'~ -
End~rser~ :
~ 17.25 nn State ciocumentary starr.~~
af~ixed to ariginal Not~ an~l cancelled.
FORM MO. It~4 p(QOn ,1~~ ~
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