HomeMy WebLinkAbout1351 ~1~p~ ~~1JS ~h.uc~ if saial .hTort~agor shall pu~ unta t~he xaid JFlortga~ee
the cerlain prnmiaty note, of whrcla the following in worn~.s a~ed fi~rc»es is a trrce copy,
~ PROMISSORY NOTE
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' $254,500.00 Miami, Florida, May 7, 1970
FOR VALUS RECEIVSD, the undersigned promisea to pay to the order of
T. JOSEPH CONSTANTINS, AS TRUSTEE, the principal eum of TWO HUNDRED FIFTY-
FOUR THOUSAND, FIVS HUNDRED AND NO/100 DOLLARS ($254,500.00), together with
interest thereon from date at the rate of Seven Per Cent (79G) per annum
until maturity, said interest beinq payable semi-annually on the aeventh day
of May and November each year, beginning November 7, 1970; and principal
being pay3ble in eight equal annual installments of THIRTY-ONS THOUSAND,
EIGHP HUNDRED TWELVS AND 50/100 DOLLARS {$31,812.50), with the first annual
principal installment being ciue and payable on Ma}• 7, 1971, and $31,812.50
being due and payable on the 7th day of May each and every year thereafter
until the amount due hereunder has been fully paid. Maker hereof shall have
the right of prepayment, in whole or in part, at any time without penalty.
All amounts payable hereunder shaZl be paid to St. Lucie Trust, in care
of Crown and McCrillis, 1219 South Franklin Circle, Clearwater, Florida, or
at euch other place or places as may~be designated by payee herein.
Each maker and endorser severally waives dem~nd, protest and notice of
maturity, non-payment or protest and all requirements necessary to hold each
of them liable as makers and endorsere. Each maker and endorser further
agrees, jointly and severally, to pay all costs of collection, including a
reasonable attorney's fee in case the principal of this note or any payment
on the principal or any interest thereon is not paid at the respective
maturity thereof, or in case it becoanes necessary to protect'the security
hereof, whether suit be brought or not. This note and deferred interest
payments shall bear interest at the rate of 99~6 per annum from maturity until
paid. This note ie secured by a purchase money second mortgage of even date
herewith and is to be constru~d and enforced according to the laws of the
State of Florida; upon default in the payment of grincipal and/or interest
due on ariy note6 secured by eaid mortgage, a11. notes so secured and remaining
unpaid ehall for hwith becane due and payable notwithstanding ~their tenor.
~ l.- - K/~ MOBILE HOM~ E SYSTEMS INC .
A ests Chester C. Wy e gy; /s/ Joel F. W
dnd shatl perform; -eomp y un an'a'-cuiuLe by~,C~~a very ie s t Zct~ions, acgree-
ments, conditions an~ covenants of said prvmissory note dnd of this deed, tleen t/ri8
--deed and the estat~ hereby created sl~Cill cease a~id be null acnd void. '
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the sa,id Jl~ort~cz,~or hereby eovencant,s and cc~srees: -
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1. To pccy all arcd singular the principcal and interest mrrd other sums of money
paya,ble by virtue of said promissory note and this deed, or either, prnmptdy on the
c~a,ijs respectively the same severnlly corrte due. .
To pcty atl and singular the ta.r.es; } a.ssessments, levies, Ziabilities, obligations
dnd encurnbrances of every natrcre on said described property each. dnd every, acnd if
the same b~e not prorrLptly pccid the saicl .M~ort~agee may act any time pc~y the sccme
urithout wn,iirin~' or af~ectir~g the option to foreclose or ccn~ ri~sht herercnder, and every
paym,ent so made sliall bear interest frorri the date thereof at the rate of 996 per
cent. per annum.
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To pay att acnd sin.gular the costs, charges and expenses, includin~s lawyer'a
fees, reasona~bly inertrred or pa~id cct c~ny time' bJ said Mortgct~ee beeause of the failure
on the part of the said .hiort~agor to perform, complJ with dnd abide by each and
eaery the stipulations, conditions ¢nd covenants of sair~ promissor~~ note and thi,s deed,
or ei~her, and every such payment shatl bear interest from date c~t tlie racte of
996 per cent, per annum.
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To keep the buildin~s now or herectfter on said land in.sured in a sum not less
than highest inaurable value ir~ Q co~rcpa'ny or companies to be
vcpproved by said .rKort~'a~ee, acnd tlce policy or policies held by acnd paJable to said
Mortg%c~ee, and ir~ the event anJ sum of rnoneJ becomes payable under such policy or
policies, the ,.~lort~agee ahall have the option to receive and a~ply the nume on account
of the indebtedness hereby ~eci~red or to perntit the .Alortga,,gor to receiue and rese it, or
any pa~rt thereof, for other prarposes, withotct t/cerebJ waivin~ or impdirin~ any eqtcily
lien or right under or by airtue of this mort~age, a~~d ntacy place and pay for auch
insurance or ctnJ part thereof, without waivir~g or af~'ectir~~ the option to foreclose or
ctny right hereunder, and ecteh c~nd every sueh payment shalt bear interest frorn. dacte
~ at th,e rate of g96 per cent, per annum.
, ~ a~~84 ~~~~1349
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