HomeMy WebLinkAbout1824 i
i
and payable on the 14th day of December 1969; $5.600.00 plus ~
accrued interest due and payable in five (5) annual installments ~
beginning on the 14th day of December 1970 and continuing for ~
each succeeding year thereafter until said grincipal and interest
thereon are paid in full. And until payment of said note shall,
before delinquency, pay a11 taxes and assessments levied or ~
I
assessed subsequent to the year 1968 on the said premises and ~
the moneys secured hereby, and shall keep the buildings which
are now or may hereafter be erected thereon insured against ~
I
all risk by fire in a sum of not less than their appraised ~
~
~
replacement value in a good and responsible insurance company, ~
r
for the benefit of said parties of the second part, said 4
1
f
insurance company to be approved by and the policies or any )
{
renewals thereof to be deposited with the said parties of the !
I
second part, and shall not commit or suffer any strip or waste ~
of said premises, and shall pay all the moneys secured by this '
~
i
Mortgage at the time and in the manner herein specified; then ~
these presents shall be void and the estate hereby created shall ~
~
cease and determine. A true copy of said note is attached hereto ~
~
}
and made a part hereof.
f
IT IS EXPRESSLY UNDERSTOOD AND AGREED by and between '
the parties hereto that it is the intention of the parties of the ; ~
i ~
first part to construct single unit housing under the provision
~
'
of a Federal Housinq authorized and guaranteed lease proqram, i
~
For the purpose of permitting the parties of the first part to ;
~
obtain construction funds, the parties of the second part agree ~
;
,
to subordinate this purchase money mortgage as required by the ; '
Iending agency, the FIRST FEDERAL SA~7INGS AND LOAN RSSOCIATION ; ~
, ~
OF FORT PIERCE, Fort Pierce, Florida, a corporation organized ' ~
~ f
RAYMONp t. !'ORD ~
"T and existing under the Laws of the United States, or other proper ;
~ s, .ro~ asw~s
~
ARCAOt ~U1LOW~
~ORT pt~~ lendinq aqency; however, the parties of the first part agree to t
sa;~ 1~ ~ac: i8~ ~
I
~~wl. _ .~M~ - ~ ~