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2. Marjorie H, Price, H. C. Hitch, Jr., Karick A. Price,
Joyce H. Gray and Henry C. Sitch, the o~wriers of the captioned
property, shall by their execution of this instrument be deemed
to have ~ointly and severally pe:rsonally guaranteed said Lo~we
note and I.o~we mortgaqe and do hereby jointly and aeverally
peraonally guarantee the payment of the principal and itrterest
of the Lo~we note and Lowe mortgage, and do bind themselves to
comply with each ancl every of the covenants of said Lowe note and
Lawe mortgage.
3. In the event of default under said certain first mortgage ;
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to the Connecticut General Life Insurance Company dated September j
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27, 1967, encwabering said real property and securing a note in ;
the amou~t of Four Hundred Forty-eight Thousancl and No/100 ~
($448,000.00) Dollars, or in the event the Mortgagors do not make
each respective annual installment of~ interest or of p~incipal,
. o or of both, on the note secured by the mortgage held by the
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a a Connecticut General Life Insurance Company and give written notice
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~ ~ J to Mortgagee thereof prior to the sixteenth day of December of `
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each year said Connecticut General note and mortgage is outstanding,
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z Q~~ the Mortgagee shall have the option to declare the Lowe note and
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; Lawe mortgaqe in default and i~maediately due and payable in full
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4 and shall be entitled to proceec~ against the guarantors individually
or collectively and also to foreclose their mortgage and note
. without having deemed to have made an election of remedies, ft
being the intention of the parties hereto that the Mortgagee and
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the holder af the Lawe note shall be entitled to proceed concurrently
and simultaneously against the guarantors and to forecl~se the Lov~e
mortgage without making an election of remedies, and in the event
the Mortga?gee shall foreclos~ the Lowe mortgage and note and if
-the full amount due, including costs and attorney's fees, are not
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recovered at said foreclosure sale, then said Mortgagee shall b~ ~
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ANOERSON, !~tlSM, DE~W b LOWNDES wnowNCy~yp cpyy~~pw~ wt a.~w ORLANOO, F~ORIDA
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