HomeMy WebLinkAbout2310 ~r~uided ttlu~~J~, that if saic~l• ~lfortg'agor sltall pay :cirto t)te sai~ J~Iortgagce
tlee certain prvmi~so~y note, of ic~h~c.h tlr~ follorving i~a rvords a~id )i~u.res is a trtce. copJ, •
to wit: INSTALLMENT PROMISSORY NOTE Au ust
$48,000.00 , 1972
Wayne Construction Company, a Florida corporation, P. O. Box 893, Fort
Pierce, St. Lucie County, Florida, promises to pay to the order of
Morton E. Frye and Gertrude M. Frye, his wife, with interest at the
rate of Seven (7$) Percent per annum on the unpaid balance, the sum of
Forty-eight Thousand ($48,000.00) Dollars, as follows: The sum of Ten
Thousand ($10,000.00) Dollars in cash one (1) year from the date hereof
together with interest as aforesaid; the additional sum of Ten Thousand
($10,000.00) Dollars in cash two (2) years from the date hereof, togeth
er with interest as aforesaid; the additional sum of Ten Thousand
($10,000.00) Dollars in cash three (3) years from the date hereof, to-
gether with interest as.aforesaid; the additional sum of Ten Thousand
($10 , 000 . QO ) Do11aYs ~~i : cash ~.our ( 4) years f rom the date hereof , to-
gether witfi ~ i~teres~ ~ as . af oreaatid; and the unpaid ~balance in the amount
of Eight Thotlsand ($~-,000.~00) Dbllars five (5) years from the date
hereof, together with interest as aforesaid, together with the right
and privilege in the aforesaid Wayne Construction Company to prepay the
entire unpaid balance or any part thereof on any annual payment date
without penalty.
AND in case default be made in payment of the said principal debt or
sum or of any installment of interest or premium of insurance or of
any taxes, municipal assessments or charges or any part thereof when du
and payable respectively, for the space of sixty (60) days, o'r upon the
insolvency or bankruptcy of Wayne Construction Company, then the unpaid
balance hereon, together with interest then unpaid, shall thereupon be-
come due and payable forthwith and the said Wayne Construction Company
shall also pay all fees, costs, and expenses of collecting the same,
including an attorney's commission of Ten (10$) Percentum.
IN V~iITNESS ~4HEREOF, ~Vayne Construction Company has caused these prese ts
to be executed by 4Vayne U. Sines, Jr. , its President , and duly attested by P. A. Sin s,
its Secretary and its corporate seal affixed, this /,Z day of August, 1972.
ATTEST: ~ ~7?,Z,,,s,~et,~`'~ ~~~'•~e WAYNE CONSTRUCTION COMPANY
~ C o ~ ~oil As
ai4`, a~~~.:Xs,~/ ~
s/ P. A. Sines ,f,,~ BY s/ ~ti ayne U. Sines, Jr.
ancl shall perjoine, complJ uitla and abide by e~ela and e~~ery tlae sti~pulations,
agreements, conditio~r~s ar~d covendnts of said promi.ssory note and Qf this deed, then
this deed c~nd tlae estate hereby created sluLll cease and be nult and void.
f ,t~tti~ the sa.id .~llort~a~sor hereby eovenants and a~rees:
j .1. To pay all ancl singular the principal ~nd in.t~re~4t a~rd ~ther sums oj money
{ pcrr~able bJ rirtr~.e ~j said pr~miss~r?~ n~te and this ~le~~l. .,r eithPr, pro~ri.ptlJ o~i the
~ daJs respectirelJ t):.c~ same severallJ conte dr~e.
~ T~ paJ all an~ si~r6ular t)re tax~s, assess~n~nts, le,ri~s, liabilit,~~s, ~,bli~ations
crn~l e~a~r~nabru~aees o/' ez~erJ ~ratrere o~r sairl deseribed propert J eu~•h ancl eve~J, and
~ if the sanr,e be n.ot pro~nptly paic~ th.e said .hiort~'a.gee maJ at anJ time pay the sanae
u~ithout u•aivin~ or af~ectin.~ the option, to foreclose or any ri~sht hereuntler, and every
paynae~at so rrtade shacll bear intere.st from the date thereof at the rate of Seven (7$)
per cent. per annum.
7'o pay all and sin~ular the c~sts. claa-6c~c an~l e.rp~nset, i~rc•ludi.n~ IawJer's
fees, reasonably i~acurred or paid at any time by sdid Jliort~'a~ee becaicse of the failure
on th.e part of the scti~ .hlart~ug'or to perform, eomplJ trith. a~i.d aLide by each and
everr,/ the sfiNrclatians, agreentents, co~zditions and cor~e.nants of said prumzsso~y nate
and tlcis deed, or ei-tlzer, and euery srich pa-yment shatl bear interest from date at the
rate of Seven ( 7$) per cent. per annum.
ti
~ lcss t.luin, Forty-eight Thousand ($48,000 00)------------------ t
~
~ ------------------------------------Dolla~s, in a contpa~ co»i.panies to
~ be approt~ed by said .~fort~agee, acnd ~he polic~ or policies y a~ad payable to saic~
.~Cortg2~ee, and i-n the event any srcna of mono~ be s pa.yabl~e under stcch. policy or
policies, th.e ~ilort~'a~ee shall have tJr,~ optio eeeive and upplJ the sct»ae on. account
of the inc~ebted~aess hereby secure~l o• e.rmit the .~fortga~or t~o recei.ve and use it, or
an~ part thFreoj; for other ses, u*ithout tlr,~re,by wait~ing or inipairi.ng any equity
~ lien or ri~lit under o vLrtue of thi,s mortga~e, and nxay place ctnd pay for such
~ insurc~nce or part thereof, ivithout wQiUing or affectin-~' the option to foreclose or
any ' ereunder, and ecteh ar~.d every stcch pay~rtent shall bedr interest from date
.
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