Loading...
HomeMy WebLinkAbout1210 PuovmEn Ai.w~YS~ that if said Mortgagors, ahall pay unto the said Mortgagees~ the certain promisaory note . of which the following in words and figures i s a true cop y , to wit: v Principal-$24,850.00 Payable at Daytona Beach, Fla, Date; Oct. S, 1972 a x ~ Beginning on the 6th day of October , A.D., 1973, and on t the E~th day of October of each consecutive year thereafter, for value received, the undersigned, jointly and severally, promise to pay to . ~ the order of G.N. Charles and Elizabeth Jane Charles, his wife, at 2427 North Atlantic Avenue, Daytona Beach, Florida 32018, or such place as the holder hereof may designate in writing, the sum of FOUEt THOUSAND > ~ NINE HUNDRED SEVENTY AND NO/100 ($4,970.00) DOLLARS, together with in- ~ terest from date until paid at the rate of Seven (7%) percent per annum. ~ Upon failure of the makers hereof to pay the sum required to be dis- M charged by the terms of this note, or of any mortgage securing the same and such default continues for thirty (30) days or more or upon the ~ v breach of any agreement or stipulation of this note or of any securing mortgage, the makers hereof covenant as follows: (a) That thc hoZders ~:ereof cn3y, at his, her or their option, wi~th- out notice to the makers, consider the entire amount of this~note as due o ~ and payable and accelerated; and any delay or failure to exerc-ise said option shall hot constitute a waiver of the right to exe,~ccise the s~me ~o at any other time. (b) That the holder hereof shall be entitled to receive from the .c a ~ c makers hereof all costs of collection, including a reasonable attorney's G~ fee, if given to an attorney for collection. ''~r. (c) Time is o~ the essence hereof, Presentment for payment, de- f ro mand, notice of dishonor, protest and notice of protest are hereby ~ wai~•~~ hy the makers and ~n~orsers. ~ ao ~ PREPAYMENT: The makers hereof shall have the right to prepay this obligation in f.ull at any time prior to the payment date. ~ t ~ ~ ,.c _ - o /s/ Arthur Culbertson (SEAL) /s/ Carol Culbertson (SEAL) ~ ~ Arthur Culbertson , Carol Culbertson and shall perform, comply with and abide by each and every the stipulations, agreements, condition~ and covenants of said promiasory note and of this deed, then this deed and the estate hereby created shall cease and be null and void. ~ Axn the said Mortgagors for themselves and their heirs, legal representatives and assigns, hereby cove- nant and agree: I 1. To pay all and singular the principal and interest and other sums of money payable by virtue of said promissory note and this deed~ or either, promptly on the days respectively the same severally come due. To perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants ,~in said promissory note and in this deed set forth. 2. To pay all and singular before they become delinquent, the taxes, assessmenta, levies, liabilities, ob- ligations and encumbrances of every nature on said described property each and every, and if the same be not promptly paid the said Mortgagees may at any time pay the same without waiving or affecting the option to foreclose or any right hereunder, and every payment so made shall bear interest from the date thereof at the rate of 7% per cent per snnum. 3. To pay all and singular the costs, charges and expenses, including lawyer's fees, reasonably incurred or paid at any time by said Mortgagees because of the failnre on the part of the said ll~ortgagora to perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and this deed, or either~ and every such payment shall bear interest from date thereof at the rate of 7'~o per cent per annum. ~9 ¢ 4. To keep the building now or hereafter on said land insured in a sum not less than Vacant Property Dollars, in a company or companies to be approved by said Mortgagees, and the policy or policies held by ~ and payable to said Mortgagees, and in the event any sum of money becomes payable under such policy or policies~ the Mortgagees, shall have the option to receive and apply the same on account of the indebtedness ~ hereby secured or to permit the Mortgagors to receive and use it, or any part thereof, for other purposes. ~ without thereby waiving or impairing any equity lien or right under or by virtue of this mortgage, and may place and pay for such insurance or any part thereof ~vithout waiving or affecting the option to foreclose or ~ any right hereunder, and each and every such payment shall bear intereat from date of payment at the rate of per cent per annum. ~ 5. To permit, commit or suffer no waste, impairment or deterioration of said property or any part ~j thereof. The ~erms "waste, "impairment" or "deterioration" shall mean the lack of adequately f.ertilizing, spraying, prunning and irrigating the orange ~°O trees and that the mortgagor shall employ a professional orange-grove Care- taker, to perform equal or better than past performance. Permission is granted r_o +~on~.aork all citrus trees. s:.~