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HomeMy WebLinkAbout0703 ~ b ~ ~tuart, rionda, - . i Y ~ f ' ~ 2 For value ~eceived, I, we, or either of us jointly and severally promise to pay in lawful money of the United States of ` _ Ame~ica to the order of FIRST NATtONAI BANK OF STUART at its office in this city the principal sum of ~ . '~'}i? it_'Y '~i:;`:.: 1':~..,:.,i~:l:~ c~ f!: /1.:..:----- ----_-----------___..__Dollars ~ogethe~ w~~h inte~e~t trom da~e at the ra~e of fi~ per cemum per annum on the unpaid balance until paid, said p~incipal and in?erest io be payabk ~s ' fo~lows: In monthly installmenrs of'' Jul iiu.n~ireu iiillt o. _ 1 i~1V.17. _(s~.':~%~•~-7 ) includ;ng ;merest, on the 1~ Ci1. t ilL~ S 8~ day of each month beg~nning on the 8~ day of ~~t~Qr . 19.~~ _ and continuing on the 8~ day of each and every month theroafter un~il the 8~- day of 'SePtal~er . ~ 198`~ , on which said dale the entire balance of principal and ~nterest then unpaid shall become due and payable. Each paymen~ is to be applied fi~st to interest and the balance to principal I~ case sa~d ins~allments, or any of Ihem, are not paid within 15 days after the same become duc, the whole of sa~d principal and interest sum shall forthwith become d~e and payable at ~he option of the holdN of this note. 1 We, the make~s, sureties, e~dorsers and guarantors of ~his note, hereby severally wa~ve presentment for payment, not~ce of non-payment, protest snd ; notice of protest, and dilgence of bringing suit agai~st any party thereto, and consent that time of payrrx~t may be extended withovt not~ce thereof to ~ any of the sureties of this note. 1 Now, shoutd it be necessary to collect this note through an anorney, each of us, whether maker, su?ety or endorur ort this note, hereby sgree to pay ~ all costs of said collection, i~cluding a reasonable attorney's fee. 1 1 $aid bank is hereby exprossly author~zed to retain any general or special deposit, collateral, real a personal securiry, or the proceeds thereof, belag- ing to eilher of us, now or hereafter in the possession of it during the time this note remains unpaid, and before w after m~turify he~eof may apply the same to this or any othe+ debt or liabilities of either of us to said bank, d•x w to become due. Given unde~ the hano and u~l of each party. RC'R!^A [1CCUh!~:VTA~Y STA~tP T^x P.f=7x-~ r~ o^ ~,rJ~~ r,oiE P. 0.-- ~v~ c~.n:~.~E:, /s/ Edward A. Leary - (Seaq c, war . Leary No._ _ - Due--- /s/ Wilma R. Leary (Seal) - - iVilrn~ R. Le ~ry IO~~ IW and shall duly, promptly and fully per[orm, discharge, execute, effect, completP, complq w~U1 and abide by each and e~•erp the stipulations, egreements, cond~tions and covenants of said prom~ssory note and ot thi, mortgage. then this mortgage and the estate hereby created shall cease and Ae null and void. It is understood that each of the wor~ls, "note," "mortgagor" and "mottgagee" respecUvely and the pron- ouns referring thereto. whether in the singular o~ pl~~rel anywhere in thle mortgage. ahall be aingular it one oNy and shall be plural jointly and severally, if more than one, and shall be mnsculine, feminine and/or neuter. wher- ever the oontexi so implies or admits. And said Mortgagor for himself and his heire, legal representatives, successoro and asslgne, hereby coven- ants ana agrees to and with said ]liortgagee, his legal representatives, successors and assigns: 1. To pay sll and singular the principal and intereat and the various and aundry euma of money payable by virtue of said promissory note, and this mortgage, each and every~ promptly on the daya respectively Lhe same aeverally become due. ' 2. To pay all and singular the txxes, assessments, levie9. liabilities, obtigatioi~a snd incumbrancea of every I nature and kind now on said described property, and/or that hereafter may be imposed, euftered. placed, levied j or assessed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- ! ness secured hereby. each and e~ ery, when due and payable according to law. be[ore they become delinquent~ and before any interest attaches or any penxlty is incurred; and in so far as any thereof is oi record the same shall be prumptly satisfied and discharged of record and the original official document (such as, for instance, :he tax receipt or the satisfaction paper officially endorsed or certifiedl ahall be placed 1n the hands of said Mortgagee within ten days next a[ter payment; and in the event that any thereof is not so paid, satisfied and discharged, said I~fortgagee may at any lime pay the same or any part thereo[ v?~thout wai~ing or aitecting any optiAn, lien, equity or right under or by ~•irtuP oi this mortgage, and the full amount ot each and every such payment shalt be immediately due and payable and shall bear intemst from the date thereof until paid ~ at the rate of ten per centurn per annum and together wilh surh interest shall be secured by the lien of this ~ mortgage. ~ 3. To place and continuously keep on the buildin~s now or hereafter altuate on said Iand fire and windstorm ~ lnaurance in tAe u.4ua1 standard policy torm, in a sum not less ihan =~'11.CJ~'1~:5_t.._.lYLS,LIL.~]l~y(Yasluche om- ~ pany or comp^aies as may be approved by said Mort~a~ce: and all such insurance policies on any ot said build- ings, any interest therein or part thereof, in !he a~~regate sum atomsaid or in excess thereot, ahall contain the ~ usual standard mort~agee clause makinR the lu~s ur.cier said policiea, each and every, payable to said Mortga. gee as his interest may appear, and ench and e~~ery su~•h policy shall be prompUy delivered to and held by said ? 1lfortgagee; and, not less than ten days in ad~•an~e of the expiralion ot each policy, to deliver to snid Mortgagee a renewa] thereof, to~;ether v~ith a receipt fnr the premium ~f su~h renewal: and there ahall be no auch insur- ance placed on any of aaid buildir.R9, any interest therein or part thereof, unless in the fotm and with the loas . payable as aforesaid; and in the e~ent any sum of money becomes payeble under aueh policy or policies said ~ Mort~aAee shall ha~~e the option to recei~e snd apply the same on account of the indeDtedness secured hereby or to permit said MortAagor to receive and uce it or any part thereot for other purposes without thereby waiving or impairing any equity. lten or riRht under or by virtue of tt~is mortgage; and in the event said Mortgagor shall ~ for any reason [ail to keep the said premises so insurnd, or fail to dellver prompUy any ot said policies oi ' insurance to said I?lortgaRee, or fail promptly to pay fully any premium therefor, or in any re~pect fafl to per- ~ form. discharge, execute, e[[ect, complete, comply «~th and abide by thia covenant, or any part hereot, eaid 1?tortg- ~ agee may place and pay for such insurance or any part thereof without waiving or atfecting any option, lien, equity or right under or by virtue of this mortgage, and the full amount of each and every euch payment shaII ~ be immediately due and payable and shall bear intPrest from the date thereot unfll paid at the rate of ten per ~ centum per annum wnd together with such Interest ahall be secured by tt~e lien ot thls mortgage. - ~ ~ 4. To permlt, commit or suf[er no was:e, impairment or deteriotatlon ot sald property or anq part thereot. F 6. To pay all and singular the costa, chargea and expenses, including reasonable lawyer's fees and coet of ~ abstracts of tiUe, lncurred or paid at any time by sald Mortgagee because and/or in the evPnt of the taflure ~ on the part of the said Mortgagor to duly, promptly and tully perform, dfacharge. ea[ecute, effec~ complete. ~ comply w~ith and abide by each and every the stipulatlons, agreementa, condiUons and oovenanta of said promis- sory note, and this mortgage~ any or either, and said costs, charges and expenaes. each and every, ahall be tm- ~ mediately due and payable, whether or not there be notice, demand, attempt to collect or autt pending: and the ~ full amount ot each and every ~uch payment ahall bear intereat from the date thereof unW paid at the rate oi ; ten per centum per annum• and all aald c~ta, charges and expense~ so fncurnd or paid, together with euch tn- terest, ahall be secured Dy the lien oi thls mortgage. ~ ~ ~ .~~~~.~4 ..7~ . - ,t . - .r~ ~ .