HomeMy WebLinkAbout1706 ~0 ~III Saf1t1. toget~e* w~ih th~ ffnem~nts. ke?editnmenb and nppwt~- ~
nancas fhenfo be~onging, and tke ronls. issues and projtfs f~~?eo~. unfo the ?norfgagw. in ~K simpl~.
~d the mo?tgngor c~ovena~ab witl~ llcc mortgages that the n~o?tgagor is inde%+,.,~bly seized of snid '
~and in f
e~ sirr~p~e: tkot tl~ mortgagor F~as gcod riAht and ~au+~u~ authority to conuey sotd ~and as a(ore-
aaid: tl~ot the mortgagor will mal~e such jwther assurances to perf
ect the Jee s~~le ettle ro satd Iw~d ~ke
n?ortgngsu os may ~onablr be .~y~:~~d: that the n+oNgagor here6y ju!!y wanonb the title to Sa~d t~d
nnd u,tll de/and the sane ngainst the lawjul clnlnLS o~ all persons wkomsoe~er: and that aaid land is /?ee
c?nd clear o/ aU encum6?ances '
~
thot ij mid wtortpoeor sl~aU pay unto said mortgagee tl~e certain promis- ~
~ 'r teote ~tK sttbstantlaQy oopi~ or ic~~nK~i~, to-~uil: f
The note to be secured by this Mortgage Deed is in the amount of '
One Hundred Eighty Eight Thousand ($188,000.00) Dollars dated of
even date herewith and payable in quarterly installments as stated
belpw w~.th the entire amount being payable at or before the expira-
tion of thirty six (36) months after date, such note being due
without interest, such interest having been calculated into the face =
~
of the note. Payments shall be matie by the maker to the payee
at the rate of Six Hundred.'($600.00)-Dollars for each and every
lot sold by the maker from its subdivision after date with a
minimum payment of Ten ~housand ($10,000.00) Dollars per quarter
' beginning with a quarterly payment coming due on the 15th day of
February, 1968; and successive quarterly settlement dates ~ach
third month thereafter. Should this note be paid in advance so .
as to have created an excess of interest charge, it is distinctly
understood that the payee will refund such ex~ess to reduce the
interest to the legal rate thereof. t,
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