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~o ~iaue nnd to ~old Iti~ sam~•. tuyrfhrr with Ihe t~~~ements, heredilumenls ancl appurtP
~ nances f~~~?~lo ~iF~ongin~, Qnc~ fhP nv~fs, issu~•s anc~ projits Ihereoj, unfo Ihp morfqagee, in (pe simp~p.
~n~ f~~P mu?tc~agor covenanls u~ilti !hP morfgagee ihat lhe morfgagor is indeJeasi6ly seized o~ said
[~nd in (pe simple: Ihat the morfgago? has go«I rigl~t and law(ul aulhorily to convey said land as afore-
li sni~: that !tie morlgago~ u~i~~ make sucti ~urfher assurances fo perfec! ftie ~ee simp~e iif~s to snid ~and in Itie
~j morl~agee as may reasona6~y he required: tl~nt the mortgagor hereby ~u~~y warrnnb Il~e fil~e to said ~and
~ and u~ill de(end tl~e same agninst tl~e lawJul clnims o( all persons whomsoever: and that said lnnd 'u ~ree
and clenr oJ aIl encumbrances Q X~'o~~ -~r R S~ IUo ~~y A y e •~E't'o c~ _
W STATE FLORIUA ,-j-~ oF FLQRIUA T~ °F f'~pRIUA ~
? Z OOCU~/.ti`!TA~',~"~STAMP TAX :,~EVTAn~ 4S7Ai+SP TAX jcnTA~"' STI~viP T~'X ~
~ = ~?R~~~2 o. _ :0~~2 - ' _ 3 4 0 0 -
~ ~ = ; _ `~"=9950_ ; _ ~ _ ~
! artor etr[wc - ` _ :truvc = 9 9 0 0 _ n~,~ _ ~
~ PB.H0~~2 "'r ~~1i ~ .
~ STATE ~F t=LORivA T!~?TE ~F 1=LORIUA ~F 1=~LORIUA
t~ ~ DOCUME, TA~~., STaMP TA X :~UN:ENTAp" STAi~iP TA X TA ~~STAMP 7A ~ ~
~ ~ - naei~n = ~ `y9 = naeiarrz ° = ~~r 3 =
~ ~ = ~ ~ i9900_ 9900_ ~ . ~ 9900_
u4ar.a etrt?uc - r.a etrc?wt _.`~„f~ _
P.B.{*~~~2 wj• - ~~'0~~= ~`wl• T~ :
.
~~V~~ ays, lhat i~ said mortgngor shn~~ pay unto aaid mortgngee ftie certain promis-
sory nofe ~ereinaJler su6slantinlly copie~ or identifisd, to-wit:
I
' S352,932.00 Stuart, Florida, :~arcri l~ , 1972
t
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~ FOR VALUE RECEIVED, the undersiqned, jointly and severally, ~
PROMISE TO PI~Y to the order of ALSX CARDENAS and S82RLEY J. CAItDF:NAS, ~
his wife, THREE HUNDRED FIFTY-TWO THOUSAND NINE HUNDRED TBIRTY-TWO
A~tD NO/100 DOLLARS, at Stuart, Florida, or such other place as tne holder
nereof may de~ignate in writinq, toqe~~er with intereat ~rom date at taia
rate of live (5) per centum per annwa on the unpaid balance until maturity.
The said principal and intereat ~hall be due and payable as follows:
The swa o! S7S,000.00 shall be due and payable on or betore Mlay 20, 1972,
said payment shall bear no intarest. The re:aaininq ~am of 527~,932.00
shall bear intsr~st at the rate of livs (S) per centum per annum and shall :
r be payable as followsi
; Zn ten (10) annual paym~nte, with tize tirst payment due one (1)
year from date hereot, aad each year thereaftert with paymeAt~ for the
? first five (5) years in the amount of $30,586.60 and tor the next five
~ (5) yea?rs in the amount ot $24,999.80, plus 5s interest on th~ unpaiJ
~ balance.
; 6lhen the payment of 5~5, 040.00 i8 paid on or before :~ay 70, 1972,
; ~ the 3outh I00 faet vill be released from the mortgaqe. y3ortgaqor may
~ pay to the Hortgaqee, for a lu12 release of t;ze purcnase ~oney mortgage,
~ accordinq to the follo~+inq achedule: Zn incremente ot nat lesa than 50
~ teet (as measured alonq State Road AlA) and extendinq fraa Ocean to Rivez,
~ ~
~ upon payment o! S3Z6.00 per tront foot. All m~rtgaqe paymenta or pre- _
~ paymenta ~hall apply towarda raleaaea. ReleaBea s:~all be contiquous to
i the lirst tract release8. Said releasea shall be given upo~ receipt of
~ the scheduled aru~ual payinents and a2so additional payments made for that
~ ~urpc~se .
s Prepayment may be ma~de in part or in whole anytime after the year
E 1972 without penalty. '
~ It detault be made tor thirty (30) days in the paymant of any
= instsilment o! principnl or interest or sny part there~f, the wnole aum
then remaininq unpaid with int~rost shall at holder' a o~,tion becoine ctue
- and payable ~rithout notice. Pailure to ~xercise such option shall not
conatitute a waiver o~ the riqht to exercise the aame in the event of ;
t subaequent detault. After maturity both pzincipal and accruec~ interest
shall baar interest at five (5) per centum per annuw until paid. T~,e
~ma?kezs and endorseza of thia note lurther waive destiand, notice o~ non-
payment and protest. s
This nota is not a negotiable instrument aad is eubj~ct to all the ~
terms o! a certain real estate n~ortgage securing the paywent hereof and r
- bearing even date r,erewith. t~
ps Hr~sw~d A~o~~~ ~ ~
~ StA'~ e Qo ~ d
~ ~ ~ , . ~ ~,J ~ " c sE~. ~ ~
~ t3. R. NELSON , AS RUSTEE '
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