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000 . 00_ STUART. Florida. . .,WUEJMD~~ . ~01, ~9 71 ,
F'CR VAI.UE RECEIVED, ihe undersigned, joiotlY ~nd se~~rally. PROMISE TO PAY !o th~ ord~r o! . ~
A . H . JACOf3S~N CO,
t;~ _ . _
,,i ighty Thousand and NO/100 . ' _ _ _ _ _ . -'noLL~RS.
_ . .
"~,i 3038 Hennepin Avenue_t. Minnea_polis.~ _Minnesota_ , or such ofher plau as the holder
~ hereo! m~T designa!• in wr[ling, togelhtr wiih inferest lrom date al ihe rate of 7~ per centum per annum o~ the unpaid
naianc~ unijl matur9tT. Th~ said ptlacipal ~nd inlerest shall bt duc and payablc as lollows: 1Tl twenty (20~ eQUal
~7 semi-annual installments of Four Thousand ($4,000.00) Dollars of t prin- ~
5
~i cipal plus interest then due, on the 17.~ day of ~OV8M~4.~~ e inning
~ ~ 1972, and continuing each six (6) months ;
~ thereafter until ~he principal and interest are fully paid. The Maker may
~~pay the entire principal balance due at any time without penalty; may pre- ~
such sums which when computed with the down payment on the purchase of ~
cile property shall not exceed 29 percent of the total purchase price; or may
:,repay any part of the principal on or after one (1) year fram the date of
~Iosing without penalty.
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~ If Jel~ult M waAe tw 3D-.. ~~~r ~st~l4~ent ~f Ni~clMl K lntere~t er ~wf Mrl l\ereef, Ue ~rhole ~ua t?~n ?~maiain~
~ unoaN ~II? ieler~st ~Aall ~t ?+I~et'~ MtM~ Mcew~ Jw u~ 1a>~M ~l?wt wslice. Fd1Yn t• eae~cise suc6 Nti~w ~Adl nel cowatitut~ ~N~er el tAe
( n~At to ~=trNw ~\e ~a~e h lM ~~t d~u~sNw~t ~elwlt AItK MWPI[~ ~OI~ K~M~~ V+ ~ccrued iwtere~t a?all be.~r i~lertsl ~t ~er cewtu~n
yer ~f~AY~ ~util MW. T~~ ~k~n ~ e~sa~~ ~1 Ni~ ~~N Idet?K ~d~e Jr~awi, ~~tke el aoe-9asmnt and p?ot~~t. 11 tAi~ wett i~ w~t Pai~ at
4 ~„aturitr ~ t\~ w~ b~4c~ ~i1i ~~itKM~ /K s~IbeWw. 1N ~M~r~ ~nJ ~wlKSen k?eet te Mr tll c~st• el colkctia~. facludiw~ ~11 co~~t
11 cost~ nuw~4 ~t~~rsf~ I~as. -
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W 1 ~ I IQM ~ W~... ...----...(SEAL)
W ~IA~I~~~H:~ WATSCSN~;~~~~as''r`~rustee
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~ and shali duly. promptly and fully pertorm, discharge, execute, etfect, complete, comply w~th and abide by each
and e~~erv the stiputations, egreements, cond~tio:~.s and covenants of said prom~siory note and ot thia mortgaga.
chen tlus mor[gage and the esiate hereby created shall cease and De null ancf ~•oid.
It ~s underatood that each of the wonis, "note." "mortgagor" and "mortgagee" respecti~•ely and the pron-
ouns refernng thereto, whether in the singular or plural anywhere in thla mortgage, ahali be singular ff one only
end shall be plural jointl} and se~erally, i[ more than one, and shall be masculine, feminine and;or neuter. wher-
e~~rr [he context so implies or admits.
~ And said Mortgagor for himselt and his heira, legal representati~•es, successore and assign~„ hereby covea-
; ants ana agrres to and w-ith said biortg~gee, his tegal representatives, successors and assign~:
~ 1. To pay sll and singular the principal and intereat and the various and sundry auma of money payable by
~ virtue of said promisaory note, and this mortgage, each and every, promptly on the daya respectively the same
se~•era2ly be~:ome due.
` 2. To pay all and ~ingular the taxes, assessments, le~•ies, tiabilitie~, obli~atietz~ snd incumbrancea of e~ery
s nature and kind now on said descnbed property, and,%or that hereatter may be imposed, auflered, placed, le~~ed
± or a~e~3 Lhereupon, and~or that herea[ter may be levied or assessed upon [his mortgage and%or the indebted-
~ ness secured hereby, each nnd ecer~, M•hen due and payable acrording to law, betore they become delinquent,
and teforr any interest attaches or an} penalty i9 incurred; and ~n so :ar as any thereof i~ ot record the same
5 shall be prr~mptly satisfied and discharged of record and the onRinal oftuiai document (auch as, for instance.
; the tax receipt or :he satisfaction pa~er of[iciaUy endorsed or certifi~d? ahall be plnced in the handa of said
~tortgagee nithin ten days next a[ter payment; and in the event !ha[ any thereof is not so paid, satisfied and
~ discharged, said 1ltortgagee may at any time pay the same or an~ part thereo[ n~thout waia~ng or affecting
any opU~n, lien, equity or right under or by ~~~riue of thls mort~age, and the full amount of each and everq
such pa~ment ahail be immecfiately due an.i payab:e aad sha11 Uear interes[ from the date ihereof until paid
at the rate of ten per c~nturn per annum and t~~~eth~r a~th such interest shall be aecured by [he lien ot this
mortgage. .
~ 3. To place and contlnuously ke~p on the buzldin:;s now or hereafter attuate on ~said land tire and ~iindstorm
~ , value
~ insurar.ce in ihe u~uat standard pulicy form. in a sur.~ n~t less than =highest insur_ablej ~n ~uch com-
~ pan~~ or cotn~+~ ::i.•s as nzat• be appro~'ed by sa:d 11Tort~a~ce: an~i all such insurance policie~ on any of said bu~ld-
- in~s, any interest therein or part thereof, in the ay;greKate sum aforPSaid or in excess thereof, ~hall contain the
usual stan~tard mnrtKagee ~ia~se tnak~n~ the t:~~s ur.dPr sa?d policies, each and every, payable to ssid rfortga-
~ gee as h~s ?nterest may appear, and each a.^.~1 e~•er}• su~~h policy shall be pmmptly deli~•ered to and held by said
~[ortRagee: and, not less than ten days in ndrance of the Pxpiration of each policy, to deliver to sxid ~tortga~ee
a rene:ral therenf. LoQether w•ith a receipt fnr Lhe prem~um nt surh rerrwal: and there ~hall be no such insur-
ance placed on anp of ~aid buildinKs. any interest therc~n oc part thereof, unle~ in the torm nnd with the Ic~s
_ payab2e as aforesair;; nnd in the e~~e^L y~ sts.^.~ of money bernmes payable under ~uch policy or policie~ said
Mort~;a~ee shall hn.•e the opti~~n to rece:~'e and :tpF~ty the same on account ot the indebtednesa secured hereby or
to rern~it sa:d ~tortca~nr to re~eivr nnd uce it or an~ nart thereof for other Qurpo~ea without thereby wa~~~ing
~ or impairinR an~• equity, lien or ri~ht under or by ~-~rtue of tnis mortgage: and in the e~ent ssid Mortgsgor shall .
for nr,y rras~~:~ fail t~ {CPPFI ~ZIP ~ard pr•~mis~•s so ln-ur~d. ~r fei) to dell~er prompUy any ot said policiea ot
insur~ncr to saui 1inr,~a~~•e, or faul rromptl~ t~ p:~r f~illy any premium therefor, or in nny reapect fall to per-
_ torm. dicchar~e, e~erute, e~tf~~t, comptete. comply ~+~th and abiJe by thia co~enant, or any pert hereot, aaid 1liortg-
n~e. may pia~•~ and pa}• for st~rh ina~rance or t?ny ~+art thereof w•ithnut w•ai~•ing or atfectSng any option, liPn,
eqwty or r.~ht uader ~r bp ~-irtue of thss mortKage. and the full amount of each and every euch pay'ment shaII
- De immediately duP and pa~~able and shaU bear mt~rest fram the date thereof unt11 paid at the rate ot ten pee
crntum per annum and together wfih ~uch interest shall be aecurcd by th^ lien of Wt mortgage.
4. To permft, commit or n~fter no w•~ste. ~mpairmeat or deteriontlon ot anid property or anq part thereo[.
- 6. To pay all and sin~ulu the cwt~, charRea and expenx~, includmg reasonable lawyer'~ fees and co~t of
~ eD!tra~ts o[ title, incurred or paid at any time by aafd 11Sortgagee becaux andior !n the svent of Lhe fallurs
on the part ot the said :?tortgagor to duly, promptly and fully perforn0. dlacharge, esecute, effec~ complets.
compiy K~ith and abide by each and every the sUpulaUona, agreements. condiUons and covenan4 ot eald promlr ~
~ory note, nnd Ui~ mortgage, eny or ei[her, as?d said costs, charges and expeiues, each and every, shaU bs tm- ~
- mMiately due and payable, ahether or not there be notice, demand, attempt to colkct or suft pendinq: and ths ~
- full amount of each and every such payment nhall bear ~nterert trom the date theteof unW peld at the rate ot :
- ten per centum per annum: and ali safd coets, chnrges and expense~ w lncurred or paid. together ~vith suc6 !n-
~ terest, ~hall De ~ecured Dy the llen of this mortgage.
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