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CHATTEL MORTGAGE 2i69`71
CARL P. WILD, the Mortgagor, in consideration of
the principal sum specified in the obligations hereafter
described, received from THOMAS D. QUINN, the Mortgagee,
hereby, on this mortgage to the Mortgagee the personal
property described as:
British Motor Vessel called "Abaco Farmer"
registered at the port of Nassau, N.P.,
Bahama Islands in the year 1964 together
~ with her engines, boiler, machinery, anchors,
~
anchor chains, life boats, davits, cooking
E utensiis, galley gear, which should include
3 all stores and gear aboard including furniture,
~ refrigeration, equipment and all other
~ necessaries thereunto appertaining and belonging
r as security for the following obligations:
3
3
~ The sum of TWENTY SEVEN THOUSAND FIVE HUNDRED
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_ ($27,500.00) DOLLARS, payable as follews:
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October 10, 1972 sum of $7,500.00 plus interest
of 7i6.
- October 10, 1973 sum of $7,500.00 plus interest
~ of 8%.
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~ Ocotber 10, 1974 sum of $7,500.00 plus interest
of 9%.
s
October 10, 1975, sum of $5,000.00 plus interest
= o f 10°l~ .
~
and agree:
1. To make all payments required by this mortgage
when due.
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' 2. To commit, permit, or suffer no waste, impairment,
or deterioration of the mortgaged property.
= 3. To pay all expenses reasonablly incurred by the
Mortgagee because of failure of the Mortgagor
^ „ • t,
to complete the agreement including reasonable ~
~ _ attorneys fees . _
= - ;
~ ~
_ _ 4. ~ any payment provided for is not paid within ;
_ ~ ~
~ thirty {30) days aft~r it becomes due, or if ;
,
~.~~'~t~ any agreement in this mortgage is breached, '
- -~'f?~~
- ~ ~T~:~ the entire unpaid principal balance of this -
obligation shall immediately becomes due at
_ the option of the Mortgagee in the manner
r J:;v provided by law, and have the mortgaged, _
= property sold to satisfy the indebtednes~
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