HomeMy WebLinkAbout0358 ~.-..r.~- ~-,rtitir-r~..-.r~.~-~rrrtil..ti.V~.-1.r1L.,..L~.JVV'~r~tir~.r-r.-_.~ - - - - - - - - -
~1 z I70.OOO.On. STUART. Florida. -~QU~.M~t1L._ . 1971
FUR VAI,UE RECEIVED, the undcrsiqned, joinNY and sesetally, PAOMISE TO PAY fo 1h~ order o! .
~ A. H. JACO~SdN CO..
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~~ne Hundred Seventy Thousand and. NO/1Q0.-r - DOI.LARS.
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,t 3038 Hennepin_Avenue, Minnea olis, Minnesota
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~ P - . - oe tuth other plac• as ihe holder
hareoi m~~ desiqnat~ in r?titing, logeth~r MrilA infeces! t~om date at th~ tste ot 7~2
4 pe~ centum pet snnum on th~ unpaid
4' balanc~ untll matutif~. Tb~ iald prlacipal ~ad inierett shaU M due aed payabl~ as tollows: lIl twenty (2~~ equal
~ semi-annual installments of Eight Thousa~id Five Hundred ($8,500.00) Dollars
~ of the rinci al/~Q~ ether with the interest then due, on the day of
NOV~.A~b4.tt~. - b~ginning i , 1972, and continuing
~ti each six (6) months thereaft~ until the principal and interest are fully
~ naid. Z'he Maker may prepay the en~ire principal balance due at any time
~ without penalty; may prepay such sums which when computed with the down pay-
~ me~t on the purchase o£ the property shall not exceed 29 percent of the ~otal
~urchase price; or may prepay any part of the principal on or after one (1)
~}~ear from the date of closing without penalty.
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Ij 11 ~et~ul~ ~a~~ Iw iw t\e Pa~eet ol ~A~ IAfI~IIAlA~ el ~rinciMi er iater~st er ~nr ~art tlereef. tMe vrhole ~ua t~en rem~iain~
, unp~y 4~y ~ter~st tlwll ~t Mlier'~ NeMw ~ece~e Jw aaJ ~a~~?le rrlt?wt wstics. Fdlu?e t• e~ercist au~A wtioa sA~ll nst con~titut~. h~r~i~e~ el ~Ae ~
(1 n~At le ~aenli~ t\~ s~e fw tM ~~e~t ~f ~u~~w~t iNao1L Alter w~.w.~~r beu r+pc~oa! ~wa ~u?ved intere~l s\sll iater~sl at !`2 . prt cc-:_~
v~. annra p1i) ~alJ. TL~ w~a4en a~~ e~~r~s ~1 l?is ~eb lurt?et ~rd~e i~~ana, ¦otke el noa-Mrse~t anJ ~role~l. 11 tAi• wot~ i• ~st yaid ~t
11 est~~a~~
~n~~?1~ ~tt~ ~IacN nit? Y~IIMN~ IK eell~cll~w. t\~ Mlt~r~ Rn~ ~e~wyery \ere~l a~ret to Nr ~11 ce~t• o( collect:ow, ieciudiw~ ¦It court
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~i ~ILLIAM H. WATSON, as Trustee
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and shall duly, prompUy and fully peHorin, d~schacge, execute, etfert, completP, comply v?~th and abide by each .
end e~er~ the stipu:ations, agreemanis, cond~t~ons and covenants of saud prom~saory~ note and ot ttu9 mortgage,
then tlua mnrtgage ancl Che estate hereby create~f sh:e!! ceasr and be null ana ~•o~d.
It is understood that each of the words. "note." "morigagoi' snd "moYtgagee" respecii~•ely and the oron-
ouns refernng thereto, whether in the singuiar or plural anyKhere in this mortgage, qhall be singutar ft one only
and shall be plural jointl~ and se~•erally, if mure than une, und shalt be mascu?ine, feminirte and,- or neuter, wher-
~ e~•er the context ao implies or admits_
And said Mortgagor for him~elf and his heirs, legal representati~~es, successor~ uid assigns, hereby coven-
anta ana agrees to and v?tith 3aid 1?iortgagee~ his legal representatUVes, ~uccessors and assign~:
~ 1. To pay all end singular the principal and intereat and the various and sundry aums ot money payable Dy
' virtue of said prorrusaory aote, and Uu~ mortgage, each and every, promptly on the day~ respectively the same
~ se~~erally become due. ~
2. To pay ali and ~ingular the taxea, assessments, le~ies, liabilities, obLRatione and incumbrance~ of e~•ery i
nature and klnd now on said descnbed propert and~or that hereafter ma be im °
f Y- y posed, su[fered, placed, te~~ed
or assessed thereupon, and~or that hereatier may br levied or assessed upon this mortgage and'or the indebted- ~
ness secured hereby, each and e~•er~, a•hen due and payable ac~ord~ng to law, be[ore they become delinquent, '
and b~ fore am interest attaches or an~ penatty LY IIICUrI't/~; and in so far as xny ihereot is of record the same ~
shall be prumpUy satlsfied and discharged ot record and the on~nal ofticiai document isuch a3, for ii~stance. '
ihe tax rece~pt cr the satistactwn paper officially en+ior~~d or certified? shall be placed in the handa of said
\tort~;aRee w-ithin ten days next afizr paYment; and in the e~•ent that anv thernot is nut so paid, satisf~ed and
discharged, said 1liortga~ee hiay at any time pay the same or an~ par[ thereot withoui v~•ai~~ng or 3f(ect~ng
an) opti~n. lien, equety or nght un:i~•r or by c irtup of th:s mort~agc, and the tull amount of each wnd e~'ery
such pa~•rnent shall be immediately due an,i {+a}•ab,e .ind ghall bear inlcrest from the date thereof until paid
at the raie of ten per c~ntur~i per annum and t~~~ethc~r w-:th such ~ntere3t shaj( be secured by the lten of thte
aiortgage.
3. To place and convnuously keFp on fhe bu:)c1in;;s nuv? or hereafter aituate on said land fire and windstorm
` hi hest insurable value
: insurance ~n the usuel standard p~~tl~~~• forrn, in a sum nnt tess than = g_ ...._.f, in such cora-
' pan~• or cun~~~ .zi.~s as ma~• be a~pro~•rd by ca;~i ;?lort~;~;-re: an~1 all such insuran.•e policies an any of sra~d build-
sn~s. any lntPrest therein or part thereot, in the a~:~n•Rate sum aforesa~d or in e<cess thereof, shall contain the
usual standar:t m~rt~;agee ~tause makin~ the t;:as ur:~ir~ satd potiries, eai-h and everr, pAyable to said btortga-
~ee as hi3 inter~~s: may appear, an.i each ar,d P!'Pr~• s;~~ h pol~cy ahall be pmmpUy deln•ered to and heid by sa~d
' ~fort~a~ee: and, not less than trn davy in ad~•anre ~if the Pxpirat~on ~f each ~wG~y, to de?iver to sxtd l~inrt~aKee
' a tenP:~-a1 thereof. to~ethet ~+•ith a rere~~~t fnr thP prpm~um ~f vu~~h rPnev+ral: and there ahall be no such insur-
anrp plared on A!l}' VI ~aiA bu:l,i;n~s. any interest thFre~n or part thereot, unles~ in the torm and with the I~qs
pa~•aF~te as sf~~re~aid: and m the e~~ent any- sum o( m~~ney be~omea payabl~ »n~fer such pollcy or polic~ea said
I?tnr~~-a~;ee tihail ha~•e the op[i~~n to rece:~•e and a~pl~ tl~e sam<• on account of the ~ndeb2ednes~ secured hereby or
to F.~rniit sa,d ~inrtqBFoT to rPrei~~P and uce it or any part thereof for other pur~oaes v~nthout thereby u-auving
or ~m~ainng anr e~i~:ty. lien or r,~ht under ~r by virtue o! ttits mortga~e; end ~n the event said :~tortgagor 3ha11
. tor am• r~•~s,~a {nit t~~ kN~•p thP ~ai.i pz.~mw~s sn in~ur~•d, ~~r fai) to deli~•er promptly am• of said policies ot
:n~urartrP to sari ~t~~r±~a~~~e, ~r faii pr~mF~t1y to ~:+t~ fully :tny premium therefor, or sn any respect (ail to per-
forrn, dischar~~•. exe,•utP, ~~ttect. com~iPtP. comply wzth and ah:•i~ by this co~•enant, or an~• part-hereof, ssld ~Snr:g-
skeP may plrtrP nr,~t l~a~ fnr such in?uranre or any part thrrP~~f without v~af~•?n~ or nffectinR any opL•~+n. )fPn.
eyt~~iti• or nRht under or br i;rfue uf ih~s mort~;aR~, arS th~• fu? amount M earh and every stich payment 9haU
bt tmmedia!ely du~ and pa~•able and shall t,Par tn?.Prest from the date therrot unt11 paid at tae rate of ten per
centum (*er annum and toRether a;[h sUch interest sha12 be nece~red by the Len ot thls mortgaf;e. ~
4. To permlt, commit or nitfer no w•as:e, tmpairment or deterforaUon of ~aid propetty or any part thereof. ~
6. To pay all and atn~utar the co~ta, chargea and expenses, laMudtng rraeonaDle law-yer's fees and cwt of _
aDstrxcta ot title, tncurred or pafd at any time by said atort~sgee because and-or in the e~ent of the fallure
on the part ot the sa.d I?SortgaR~r to dul~, promptly and [ully perforna, dtscha~ge, execute, effect, com~lete,
cemply atith and abide by each and every ihe sUpulation~, agreementa. condiUons and covenante ~t !sid promi~-
sory note, and thts mortKage, any or either, nnd ~afd coats, chargb and expenaes, each and every, shsil De Im-
medlately due end payabte, w•hether or not there De not~ce, demand, attempt to colkct or suft pending: and the
full amount of each and e~ery ~uc~ payment ahall bear ~nterest trom the date theceot unt11 paid at the rate ot
ten per crntum per sru~um; and all eafd coste, charges •nd eapenses ~o tncuned or pal~ together wich such !n-
terrat, ~hatl De secured by t~e Ifea of thla mortgage.
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