HomeMy WebLinkAbout0069 to pay to the order of First Federal Savings and Loan Association o£
Fort Pierce at its office in Fort Pierce, Florida, the sum of Three
Hundred Sixty Thousand Dolla -~60,000) with interest after date
at the rate of eight per cent (8~) per annum, interest payable in
monthly installments on the first of each and every month, beginning
the lst day of November, 1972. Gulf-Atlantic shall have the right to
prepay this debt in whole or in part at any time without penalty.
Each installment when received shall first be applied in payment of
the interest on the unpaid balance then due, and the balance remaining
of such installment shall be applied in reduction of the principal
sum, If de£ault is made in the payment of any installment of interest
wh~n due, and such default continues thirty (30) days, then at the
option of the owner and holder hereof, and without any other notice, ,i
~~11 the remaining indebtedness shall be due and payable at once.
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Neither forbearance nor acceptance by the owner and holder hereof
after any default in any payments due hereunder shalZ be deemed
an extension or waiver. Gulf-Atlantic waives demand, notice of
nonpayment and protest, and in the event it becomes necessary to
collect the indebtedness through an attorney, agrees to pay aII
costs of collection, including reasonable attorney's fees.
3. That Gulf-Atlantic, for itself and its successors and
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assigns, covenants and agrees to and with the Association, its
successors and assigns, to faithfully perform each and every covenant
and obligation by the mortgagor to be kept and performed as more
particularly set forth in covenants numbered 1 through 11, both
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inclusive, with respect to the indebtedness hereby evidenced and ~
the property securing same, aii as are more partz~ulaily s~~ f~~~h
in the hereinbefore described second mortgage deed from Gulf-Atlantic
to the Association, dated October 1972, and recorded in the
public records of St. Lucie County, Florida, in O.R. Book O7 .
page s .
4. That Gulf-Atlantic, for itself and its successars and
assigns, further covenants and agrees to and with the Association,
' its successors and assigns, that:
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