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Home My WebLink About0353 . . S 25 ,"000.00 - sTUnRr. Florid~. August 19 , 19 71 IRST NATIONAL~ BANKd A~D! T~2~US`~ ~COsMPANY~ OF STUART pAY ~o the o:a•r ot Twenty-Five Thousand and no/100 ($25, 000.00) DOLLRRS. st F 1~St National Bank & Trust CO. of Stuart ,$tlld~t , Fla . or sucA oihe: plac• as ih• holder - h~r~ot may dtiiyn~!• in wrilin~, foy~lh~r with iat~T~st tcom d~t~ •t !h~ r~t• o! . 8 p~r c~ntum p~r •nnum on ih~ unpaid balanc• ~ntil m~turlty. Th~ said principai ~nd int~r~s! ~hall b~ du• •nd payabi~ Ofl OY' before Ori@ year from date. ~ ~ , 11 d~ta:.it ~r a~de (or 3~ d~rs ~n tAe P~7ment o( anY ~n~tellm~nt ol p~~ncipal or ~nt~reat er any P.~rt thrreol, Ih• w6ole •um tl~~n t~m~i~in~ ~.,np~~d ~~tA ~~ter~~t •~ill at boidir'~ option become dw ~ed pay~ble ~r~~hcut nel~ca Fw~::.ri La eaerc~s~ •u~h op~~on •h~il not con~titub ,~y vawer of tne ~ ry61 te eu~cis• IAe same in tAe •venl ol •ub~equenl del~ult. Alter m~turitr bo~h prmuD~~ +~~d ~caru~d ~:•terest •hall btar interest at . O. p~r cenlum ~ per •nnum uRtil paid. TA• in~~~r~ aaJ ~wdoner~ ol t~is eot• IurlAer ~a.re drmand, eoac. of nun•payment ~ud prote~t If thi• ~ot~ i~ oot pa~d at : ~ m~lurity anJ lM ~am~ i• placed oitA ~n ~ltoraer le~ colleetSsn, ts• maYen •ed endorser• 6ereol ~:ree te p~> ~11 c~~U el collec~io~. iecludin~ ~~l court ~ co~l• •n~ rN~ea~bl~ ~ttwa~r le~~. s Wi 11 iam H. Watson _.1sEAL~ / _ ~A ppCUMENT~ ~~MP W I L IAM H. WATSON I R~ FFIXED to OR'G~N/~l hJT; _ (SEAL) ~ TNC A ~p ELLED ~ /s/ Susan J Watson sEAL~ ~ ' WATSON SUSA~... ~ . . 1 . . .L._.....Z...L....t............:.._..............:...................................._............... ~............................_....................................................~............t..........: r - ! ~ F a ~ ~ ? RRd sha11 dul}•, promptly and fully perform, d~scharge, execute, effect, complete, romply with and abide by esch ~ and e~erp the stipu:ations, agreements, conditio.is ar.3 :...:nants of said prum~saory note and of this mortgage, ~ tYn~n this mortgage and the estate hereby crnated shall cease and be null ana ~~o~d. ; It is understood that each of the «or1s, "note." "mortgagor" and "mortgagee" respectively and the pron- ~ ouns refernng tiiereto. K•hether in the sinqular or plurnl any~a-here in thls mortgage, ahall be s~ngular it ane only ~r and shalj be plural joinU}~ and se~•erally, if mure than one, and shali be masculine, fem~nine and!or neuter, wher- ~ e~rr the con:ext so implties or admits. = and said Mortgagor for himself and his heirs, legal representati~es, successor~ and assign9, hereby covea- ~ ants ana agrees to and K-ith said l?iortgagee, his legxl representatives, successors and assigns: - ~ 1. To pay all and singular the principal and intereat and the various and ~undry sums ot money payable by ~ v~rtue of said promissory note, and this mortgage, each and every, prompUy on the days respectively the sams y se~•eraliy become due. ~ ~ 2. To pay all and singvlar the taxes, asses_~ments, levies, liabilities, obii~atian~ and incumbrancea of e~•ery ~ nature and ksnd now on said descnbed property, snd or that hereafter may be imposed, auffered, placed, levied or assessed thereupun, and- or that hereafter may br le~•ied or ~sc~ssed upon this mortgage and.'or the indebted- ness secured hereby, each and e~•ery, w~hen due and pa}•able accorci~nR to law, before ihey become delinquent, ~ 9n~1 b.~fore an~• interest attaches or any ~nalty ~s Incurred; and ~n so `ar as any thereof is ot record the same ~ shall be promptly satisfied and discharged ot record and the onRinal uflicial document lauch as, for i~utance, ;d :}1B tax receipt er :he satisfact;on paper ofticiaUy en~ior~:d or certif~r.1 ~ shall be placed tn the hand~ of said ~SortKa~ee w-ithin ten days next after payTnent: and in che e~•ent !::at any thereo! is not so paid, satisfied and discharRed, said D1~~rtRa~ee mat- at any [ime pay the same or any part thereof Kithout wai~ing or affecting ar~• opt:Dn. l~en, eq;ii;v or nRht und~r or b)• ~'~r:t~P of th:s mort~a~e, ttnd the full amount o! Cach and e~'ery su~h n<i~•mer.t ~h:il! be immediately ~iue an~i {~ayab~e and sh:ill bear in!erest from the date thereot until paid at the rate of ten per c~~nLurn per annum anu t~~~;e;h~•r ~~•:th such interest shall De ~ecured by the lien of this ~ mort R age. = 3. To place and continuously ke~p on the bu„d~n::s nuw or hereafter aftuate an said land fire and windstorm , value ;1 insurancP ~n the u~iial standard pulicy form, in a sum nnt less than sh~gh.~s_t __1_nsyra_p~~~, ~n such com- ~ pan~• or cum;~ ~i~, as n:a~• be apprc~~~ed b}• ~a,~! Dinr:;;a,~ e: ami ali such insunnce policies on any of said build- in~:s. any ~nterest therein or part thereof, in the a£,r~~;ate sum atoresaid or tn excess thereot, shall rontain the usual ;:an~iard n:;,rt:-ageF ~lause makin~ the lz:~v ur.d~•r said poGcies, each and every, payable to sa~d ~iortga- - ~~~e as his ~nteres: ma~• appear, an~i each ar.~t e~•~rt• h p~~:tcy shall be promptly del~vered to and held by said A(or,~;aK~e: and. not le~s than ten days in ad•~ an+•e nf the Pxp?rat~on of each policy. to deliver to swid Diortgagee _ a rene~val ihere~~f. ;u~e[her ~~•ith a rece~pt f~~r the prPmium nf au~•h rPnewwl: and there ~hall be no such insur- = xnrr plxrPd on a~~y ~~f ~aid buildinKs, xny interrst there~n or part thereot, unles~ in the forrr? and with the loss pa.•at~le as 8f~rresatd; itn~1 ~n the e~•Pnt any sum of m~~r.e~ becomes payable under such policy a: :x?liciea sa:d Mo7-:,a~ee ,hall ha~•e the npti~~n to recei~•e and a; pl~~ the aame ~~n account ot the indebtedness serured hereby or to F~rrr:it yi:d !lfortEa~c~r to re~e:~•P an~3 +lse it or an}• ~art thercof ;or other purfw~ea without theceb~ wa~~yng or ~m~ain~~ an~• r~~izit}•. l;en ~r r:~ht urtder ~~r by ~•irtue of itiis mortgage; and in the e~'ent seid ~iortgaRor ahall for ar,y n~a~~ l:+,I t.; kP~~, the sai;i ~r•~n~«~-~ sn in~ur~d. or faii to deliver promptly an~• of said policies of ;r..~irsr.. P!o s.i:~3 `.F~-'~;aK~ P. or ft~l promptl~• to p i~• f~ilty any premium [herefor, or in any re~pect [ail to per- torm. ~3ischar~P, exrru,e, eif~•rt, complete, com~ ly u~th and abi,ie by thi~ co~•enant, or en}• part here~f, ~s~d ~tortg- - a~e~~ may plarr ami pa~• f~~r such in=urar~ce or any part thrreuf :~~ithout vvaieutg or l~ffecting any option, li~n, _ ~utity or r.t~ht under nr b~~ v~rtue uf this mortKaRe. ar~d [he iull nmount of each and every euch payment shaU be immed~a;ely duN xnd pa}•able xnJ shall Dear intPrest from the date thtreo! unt11 paid at the rate of ten per cQntum per annum and toKeth~r with such interest shall be securcd by the lien ot Ws mortga~e. = 4. To permlt, commit or ~uffer no w•as:e, imFairment or deterloraUon ot eaid property or any pnrt thereof. i - 6. To pay nll and ainFular the costa, char~es and expense~, includ~ng reaaonaDle lawyer'~ feea and coet ot abstra~ts o[ title, tncurred or ~aid at any tlme by satd M~rtga~ee becauae and~or in the event ot the fallure ~i on the part of the safd :?fortgaRor to duly, prortzptly and fully pertorm, discharge, execute, etfect, completay - comply w~th and abid~ by esch and evPry [he etfpulattons, agreements. condiUons and covenante ot said promis- = sory note, nnd Ni~ mortKa~e. +?ny or eithPr, and ~~Id cr~sts, chargw and expenses, each and every, ehUl be im- mediately due and payable, whether nr not there be not~cr, d~mnnd, attempt to col{ect or ault pending: and ths full emount of each and even auch psyment ehell bear interest from the date thereot unt11 pald at the r~te ot _ ten per centum per annum: and all safd coeta, charRei and expenses ~o lncurred oc pald. together with such ln- terest, shall De xcured by the lten ot thfs mortgage. ; ~ R (j~ - - ~ ~ - - BOL'K ~+71J PACf J~ i=