HomeMy WebLinkAbout2355 Each monthly installment paid hereunder shall be first ~
applied to interest at the applicable rate on the `
reducinq principal sum due hereunder from time to time.
and the ba2ancQ of each installment shall be applied to
the reduction of principal.
This Note may bp prepaid in whole or in part at any ti~e ;
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without penalty.
Each maker and endorser severally waives demand, protest and notice
of nwturity, non-payment or protest, and all requirements necessary
to hold each of them liable as makers and endorsers.
Each maker and eadoser further agrees, jolntly and severa~ly, to
pay all costs of collection, includ~ng a reasonab2e attorney's fee
in case the principal of this Note or any payrrent on the principal
thereof, or in case it becomes necessary to grotect the security
hereof, whether suit be brought or not.
This t7ote and def~rred interest payments shall bear interest at the ~
rate of ten per cent (1~'~) per annum from maturity until paid. ;
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This Note is ~ecurcd by a first zaortgage oP even date herewith and
ia to be con~trued and cnforced according to the l~ws of the State
of Florida; upon default in the payment of principal and/or intcrest
due on any ~vte secured by said Mortgage, a12 notes so securcd and
remaining unpaid shall forthwith become due and psyable notwithstan~ing
their tanor. .
(Soal)
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nnd s{~all pe?Jorm, romply witF~ and a6ide by ench and e<<ery the ngreemenls, stipulations, conditioru und
. conenants tf~ereo(, and of t6is mortgage, then tF~is mwtgage and tlee e~tate ~ere6y cr~eated, s~iaU cease. de-
termine and 6e nul! nnd void.
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Ii~ fhe morlqagor hereby (urt~er covenants ancl agrees to pay prompl~y w~en due fhe principal antj ~
i interest and oiF~er sums o~ money provided (or in saicl note and t/~is morfgage, or eitl~er; to pny al~ and
I singular tF~e taxes, assessmenls, lei~ies. Iin6i[ities, o6ligntions, and encumbr+ancea o( euery na[ure on satd pro- ~
perty: to permit, commit or suf(er no u~aste, empairntent or deleriomtion o~ saicl Iand or the impronemenb ~
~ tl~ereon ~t any 1ime: to keep the buildings no~~v or herea/ter on said land ~ully insured in n swn oJ not less '
' 11inn EIGHT THOOSAND ]1ND NO/100----«----«--~..~~~~~ '
in a company or companiea (fLLL'~/{ftU[G Q,.C J:2vT~y^^yAO°, !tio .~.~li~-y o. .~.?i:.~:o. ~0 6o I~e41 bv. an t~uva~~
~o, said mortgagee, and ir~ ~I~e eveni any sum o/ money 6ecomes ~ya6t~ by virtue oj auck iniamnce the !
mortgagee shull haue the right to receiue and apply the same to the indebtedness here6y aecured, accounting
lo I~e mortgagar ~or any aurplus; to pay a~~ co~tt, c~arges, nnc~ erpenses, incjuding Iawyert jees and title
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seurcF~es, reasona6ly inc~ured or paid 6y the ntorlgagee 6ecause o~ the ~ai~ure o~ the mortgagor to promplly 4
and Ju~~y comp~y u~ifh the agreemenfs, stipu~at~ona, conditions nnd couenanfs of said note and this mortgage.
' or eit{~er; fo pe?Jarm, comply with and a6ide by each nnd euery tl~e agreemenls, stipujattons, conditions nncl
corenants set (ort1~ in said note nnd l1~is mortgage or eitF~er. ~n the event tl~e moirtgagor ~ai~t to pnp when
due any tnx, asses:ment, iresurance premium or otber sum oJ money payable by virtue oJ aaid note and thia
mortgage, or eif~er, !~?e morfgagee may ~y !he snme, withouf waiuing or a(fecting fhe opfton fo ~orec~ose
or any oiher riql~t heretinder, and aIl snch payments shall beQr intereit /rom dete tl~ereoJ at t6e higl~est law- -
(ul rate fhPn a1lou~ec~ by the luws o/ llee Stnfe o/ Flwida.
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DL any sum o~ money herein rp~errec~ fo be not prorript~y paid re~ithin t}f~.~~? day~ next ajler
tF~e same 6ecomps c~ue, or i/ each and e~ery t{~e ngreements, s~ipulatioRS, conclitiores ant~ covenanb of said ~
note anc~ tf~ie morteagp, or either, are not fuUy per/orntec~, comp~ied witl~ ane~ a6~ded 6y, .then the entire
sum mentioned in aaid nole, and this mortgage, or t1~ e entire 6alaice unpaid tl~er+eon, slwU /ort{~wit?~ or
theren(ter, at fhe optton o/ the mortgagee. 6ecome and be due nnd pnyn6le, anytl~ing in satd note or I~erein
1o t~e contrary notu,itf~sfanding. Failure by the mortgagee to exercise anr of t~e rigktt or optiont here[n
provicled s{~a~~ not consfifule a u~aiver o~ any rig~ta or opfions under saic~ note or ftiis mwfgage accrued or
f~preajlpr acrruing.
BoRx1~1 YAfF
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