HomeMy WebLinkAbout0403 PROVIDED ALWAYS tfiat if the Mortgagor shall pay unto the B~nk the certain pmmissory note of ~
which the following in wor~:s and Rgures is a true copy. ta wit: ~
, _ NORTGAG:~ 1~'~TF.
y9, 000. UO Palni Peach, Flor~da, r^ebruary 6ti:, 1973
A. ter date i or valuE rece? vad, I proz7ise to patiy to t'r~e Order ot
kO~T'-~ ~VL::L'E :~~AT~OZAL BA:~F'~C, in Pa1m ~eacn Florida, ~he su?n of
`.I.~~ ~~:CUSA\"D a~'D \0 ~?J~'DR~'1HS POLLARS (~~,000.00; to~etl,er Kit:i
_i.~eres~ as nar2inafier s~ated, in ai~nual principal insta.ilments
o~ O:1L TF:OJSAi~'~ AND NO HUNDRF.DTHS DOLLARS ($l, 000 . 00 ) each, the
~ irst payrr.ent to be due on the 6th da~r of February, 1974, and ~
su~sequent payraents to be thereafter due on the sar.ie_ date of eacn
succeed~ng year un~cil i;ne 6th day of February, 19?7, on wnich dzie
thE last annua.•n principal payment o~' O~iE THOUSAND AND NO HLtNDRT.DTHS
DOLL-At~S (~1,000.00) shall be gaid.
Al1 sv.ch payments described above sha~l be first applied to the
payment of accrued interest and the balance rema~ning shall be appliea
~o tne pay:nent of the principal sum.
In addition ~o the foregoing pri:zcipal payments, interest payiuents only
shall also be paid quartzrly, on the same day of each quarter, co:n:nenc-
ir.g on the 6~h day of yay, 1973.
Ti~erea~ter, on ~he 6~'r, 3ay of February, 1978,. ~ne er,tire bala.nce then ~
owing plus all accrued interest snali. be due and payable. ~
~
~his note .~,ay oe prepaid on whole or in part before maturit3r withoui j
penalty. ~
Interest snall be ~aid at t~ie raZe of seven and three quarter per
cen~ (7-3/~+) per ann-am on all unpaid balances. ~
~'^~is note shaii be considered ~r. defaul.t •~~hPn any pay::;er_t required ~o
be made hereur.der shall not be ~aid withir. th~rty (30} days after t:ie
sa.~ne necomes ciue, and shall rernain in defaul+. until such payn:er:t shall ~
have been made; while in de~ault, t:~is note shall bear interest at the
rate of ter. per cent ~i0°p) per annu.m. ~
kll persons now or here~.i ~er becomin~ parties iiereto severally craive~ ~
d~:~and, notice af non-pay:nent dnd pro~est, and agree t'r~at in the ever.~ ~
any ~nde3tedness due~:~ereunder remains unpaid for a p~riod of ti~irty ~
(30) days, tne whole of said indebte~r.ess shall thereupon, a~ the {
, e~ ~ion of the r.older o~ ~his note, beco.~ e im-neciiately due a.r:d pay~~:,ie, ~
I U:r_d i; ~his nol~,e ~ecomes in d~fault ar~d is nlacec in the hancis o~ an ~
c`r.i,~Of?'Ic~.;l for eollee~io:~, ~o pay reasonaale af;torney's fees for ;::a.k~r~~; ~
succi collect~on. ~
s/ Da~,glas R_ Martin ~j'~E~L) ~
~oug3as K. ~;artin ~
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~ ~ /s/ Karen L. Martin ~SLi~~~ '
Karen L. Martin ~
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~ and shall perform, comply with and abide by each and every the stipulations, agreements, conditions and eov- ~
~ enants of ~aid promissory n~te and of this deed, ther. this deeil and the estate hereby crea:ed shall c~ and
be null and void.
L1t1
~ AND the Mortgagor does hereby covenant and agree: ~~~~K~~~ ~GE ~ ~
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