HomeMy WebLinkAbout0630 70 ~ W ~ fhe some. logether wifh the tenemenls, l~ereditamenta oncl appurte- ;
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nances lherefo be~onging, an~ fhe ~+enfs, issui?s and pro~ifs thereoJ, unfo Ihe ?nortgagee, In Jee simp~e. '
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~ tRe neortgago~ covenanls with tRe morlgagee 1ha1 Yhe mortgagor is indej~a6ly seized o/ said
land in ~oe simple: that tF~e mortgagor I~as good rigf~! and Iawf ul authority Io conuey said land w ajore- ;
said: tha! t6e mortgagor will malre sucti ~urlher assurances to parfect !he (c~e simp~e tit~e to said Iand in f~e
mortgaQee as may ~so~~a61y .~««ed: tl~at tf~e mortgagor {~ereby ~ully u~wranta Ihe fille to said land _
and will defend the same ngainsl th~ lawful cluims o/ all persons wl~omsoei~r~: ancr tl~af said land is free ~
nnd c~ar oJ aU encumbrancps . .
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! , j~'.,. ~ F+ort Pierce Developeent Aaaociatea, LTD.
i ~1{W~S~ fhaf iJ ~?r~~rMr stia~~ pay unfo saic~ mortgagee t~e certain pr+omis-
j sory note ~ereinajter su6stanfially rnpied o~ ideati(iecl, lo-wit:
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i PROMISS~ORY NOTE .
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f .~100,000.D0 December 3 ~ , 1970
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E FOR VALUE RECEIVED the undersigned, ~ointly and severalZy, promise to
• PAY TO T~ ORDER OF FIRST NATIONAL BANK OF FORT PIERCE tr?e principal
~ awn of ONE HUNDRED THOUSAIm ($100,000.00) DOLLARS together with the
interest thereon f~om date hereof at the rate of EIGHT and ONE-HAIF
~ (8 1/2~) percent per annum until maturity, all payable i~ lawftil m~riey
~ of the Unites States of America, as follows:
~ Interest on the unpaid principal balance shall be paid in quarterly
~ annual installnients, the first such installment to be due and payable
~ three (3) months from the date hereof, and succeeding installments to
~ ba due and payable every three (3) uanths thereafter. Principal shall
~ be payable in four (4) equal annuas~ installments of ZWENrY-FIVE THOUSAND
~ ($25,000.00) DOLLARS each, the first such payment to be due and payable
txo (2) yeara from date hereof and succeeding payments to be due and
~ ~ payable each year thereafter, to-wit: Three (3) years, four_ (4) y~ears
~ and Pive (5) years from date hereof. This Note is secured by a Mortgage
~ Deed oP even date Prom th.e FIRST NATIONAL BANK OF FORT PIERCE, as
Trustee, under a Trust Agreement da'ted the 17th day oP Novsmber, 1970,
~ ar~d knorm as Trust Nuinber 1, as Mortgagor. This Not~ me~y bs prepaid at
~ anytiu~ in xhole or in part Nithout penalty. ?
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