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Home My WebLink About1313 ^ti~._ ~ - ~ -?~'~G~C'~-~.rL'~t.~L'~C-~~CrC~rC~C~ i ~ i s' 3 2. 6'7 5. OO _ STUART. Florida. ~ f.!f~~ f~ ia . FOR VALUE RECEIVED. the undersigned, jointly and se~ecally. PROMISE TO PlIY to 1he order o!_ . _ . ~ ~ DAVID E. MARTINELLI and RUTH E. M~RTINELLI,___his,wife, . _ . . y One Hundred Thirty ~tvo Thousand Six Hundred .Seventy-Five and NO/100 -.-DOLLARS. ~ at _ . _ . . . Qg.~ . or such other plac~ as the holder 7~ t th 4. e~ ccntum er annum on the un aid hereot m~r desiqnai• in vrrifing, togeiher with interesi irom~ a e~r~te o~ 19p1 p p r ~ balanc~ uotil matucitT. 7'h~ said p:incipal ~nd irieres! shaU be due and payable ~s tollow:: Iri S 1X ( 6~ equa 1, ~ annual installments of Elev ousand Two Hun ed ty (~11,250.00) Dollars 4i of the principal plus inte est hen due on id balance on the 31st day of December beginnin Dec er 1 nd continuing until December ~ 1A77 an.a a f; 1;nct-a11 S' tv ivc~ Thnusand nne Hund~Ced .s i / s . . ~ v a . ~ a ~ .a ~ : . . - s _ _ ' _ _ ' _ . _ 1 _ _ _ _ _ " _ ii Seventy Five ($65,175.0 ) Dollar t pri cip 1 plus interes~ then due 4 on the unpaid principal balanc n Dec er , 1978. The Mortgagee may ~j prepay any part or all o unpaid principal at any time before due with- ti~ out payment for penalty therefore after January 1, 1972. All prepayments of principal shall apply to the next regular annual installment becoming due ~ti hereunder. ii ~5 i~ ii ' 11 delault M ~w~de Ier 3~. . day in tse pa~~nt ol anr imtalimeot o( principal o? intereat or any part tAereo/, l6e whole ~um then ~emainin~ unp~id wit! intcrest shall ~t Aeldtr'• optie~ become due ~nd Parasle wilhout nat~ce. Failure to eiercise suc6 opt:oa ah~ll nel cooatitute ~aiver ef tAe r~~ht te eserciae ~Ae anne in 1M e~eat el •ussequeat dclaul4 A(ter ~saluri ly bolA principal aad accrued intnest a6a11 be..r ialereat at _.per te~tum ver annuw~ ~wtil Paid_ The msken ~nd ewJorsers of tAis wole IurlAtr ~v~ive demand, ao~ice e( non-Par~e~t and prote~l. If tAis eole is not paid ~t maturitr an~ t\e ~ase is placed ~ritA ~n •ttor~e~ (K collectioa, tb~ ~akers •~d eadonen Ae+eot ~ree te p~y all cost• o( col{ectioa, ?aclud:e~ all court ~1 cosb ~nJ ~e~~oaalA ~ttora~r lee~. _ i 1 ~ - ' ......ISEALI . . . • - -.~~~•Z-• ~i e ~Boswe Jr. n I I _...._(SEALI . . !1 ~ I i (SE1lL1 1~ . . _ . . _ . ~ ~ 11 I) . . • - - - _(SBALI {i _ ~ and shal! duly, promptly and fully pertorm, discharge, execute, effect, complete, comply c~nth and abide by each snd everv the stipulations, agreements, cond?tiocis and covenants of said promissory note and o[ this mortgage. then this mortgage and Lhe estate hereby created shall cease and be null and ~oid. It is understood that each of the wonls, "note; '"mortgagoY' and "mortgagee" respectively and the oron- ouns referting thereto, whether in the singular or plural anywhere in this mortgage. ahall be singular if one only i and shall be pluml jointly and severally, if more than one, and shall be masculine, feminine and/or neuter, wher- ever ihe context so implies or admits. i i And said Mortgagor for himself and his heirs, legal representatives, successors and assigne, hereby coven- ; ant~ ana agrees to and with said I?tortgagee, his legal representatives, successors and assigns: l. To pay all and singular the principal and internet and the various and aundry aums ot meney payable Dy ~ virtue of said promissory note, and thia mortgage, each and every, prompUy on the daya respectively the same t aeverally become due. ' 2. To pay all and singular the caxes, assessments, le~ies, liabilities, obtigations and incumbrance~ of every ; nature and kind now on said described property, and/or that hereafter may be imposed, auftered, placed, levied ' or assessed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- ~ ness secured hereby, each and every, wnen due and payable according to law, before they become delinquent, ~ and before any interest attaches or any penalty is incurred; and in so far as any thereot is o[ record the same shall be prumpUy satisfied and discharged of record and the original official document (auch as, for ulstance, ; ;he tax receipt or the satisfaction paper officially endorsed or certitied) shall be placed in the hands of said ~ Mortgagee v~~[hin ten days next after payment; and in the event that any thereof is not so paid, satisfied and ~ discharged, said biortgagee may at any time pay the same or any part thereof v~-ithout wai~ing or affecting ~ any option, lien, equity or right under or b} ~•irtue of this mortgage, and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid 3 at the rate ot ten per centurn per annum and together wzth such inierest shall be secured by the lien of thia ? ~ mortgage. 3. To place and continuously keep on the bui]dinRa now or hereafter eituate on said land flre and dstorm ; ~ va~ue ; ~ insurance in the usual standard policy form, in a sum not less than ...1 hest insurable/ in such com- ~ s~ ~ 1-------~-- - - ~ ~ pany or comp^n:es as may be approved by said biort~a~ce; and all such insurance policies on any o! esid build- ings, any interest therein or part thereof, in the a~gragate sum atoresaid oc in excess thereof. ~hall contain the r usual standard mort~agee clause making the loss ur.der said policies, each and every, payable to said biortga~ ~ gee as his interest may appear, and each and eve:y suc•h policy shAll be promptly delivered to and held by said I?iortgagee; and, not less than ten days in ad~~ance of the expiration ot each policy, to deliver to aaid blortgaRee - a renewal thereo[, togelher with a receipt for the premium of 4uch renewal: and there ahall be no such insur- ance placed on any of said buildings, any interesL therein or part thereof, unless in the form and with the lose payable as aforesaid; +tnd in the e~ent any sum of money becomes payable under such pollcy or policies said s'~ MortRagee shall ha~•e the option to receive and apply the same on account of the indebtednea~ secured hereby or ~ to permit said :Kortga~or to receive and use it or any part thereot for other purpose~ without thereby waiving - or impairing any equity, lien or riRht under or by ~•irtue of thi9 mortgage; ar~d in the event said 1lfortgagor shall - for any reasoa fail to keep the said premises so insured, or fail to delfver prompUy any of said policies of insurance to said DiortgaRee, or fafl prompUy to pay fully any premium theretor, or in any respect fail to per- form, discharRe, execute, ef[ect, complete, comply w~th and abide by this covenant, or any part hereot, said biorig- agee may place and pay for such insurance or any part thereof without waiving or a[fectlng any option, lien, equity or right under or by ~ irtue of this mortgage, and the full aqnount of each and every auch payment shall - be immediately due and pa}•able and ahall bear interest irom the date thereof unttl paid at the rate of ten per centum per annum and together with auch interest shall be eecurcd by the lien of thls mortgage. ~ - 4. To pernnlt, commit or auffer no wa~te, impairment or deterloraUon ot asld property or any part thereof. ~ - 6. To pay all and aingular the co~te, chargea nnd expensea, including reasonable lawyer's fee~ and coet o! } abstracta of tiUe, lncurred or patd at any ttme by eald Mortgagee becauee and/or 1n the event of the fallure ~ r ~ on the part ot the said Mortgagor to duly, promptly and Nlly perform, discharge, e~cecute, effect. complete, ~ = complq with and abide by each and every the silpulaUons, agreementa, condiUons and covenanta ot said promis- j - aory note. and thls mortgage, any or elther, and said costs, charge~ and eapensee. each end every, ahaU be im- J - medtately due and psyable, whether or not there be notice, demand, attempt to oollect or suit pending: and ths ~ tull amount ot each and every auch payment ahall bear interest irom the date thereof untll pald at the tate oi ~ - ten per centua? per annum• and all aaid coeta, charges and expense~ w fncurred or paid, Wgether with auch ln- ~ tereat, ~hall Ds secured by the llen of We mortgages. ~ x= - ~ ;ri - ~ ~~8 i3~.i - f - sw