HomeMy WebLinkAbout1488 f~e sarnv. log~ther wit<< t~ N~~nu~ts. tia~itonwnU a?~ oppu?l~-
reanc~ss fh~nto btlongu~g. and thr ronlt. iutuas and pro~ib t~era% unb t~~ ~origaet~. In ~M rimp~e. ;
.
Z1R~ fhe ~nortgagor conQnnnis mifk t1~~ morigag~s I~at !tie nw~tgngor b indif
eati6~y seised o~ said
lnnd in ~w :imp~t: f~n! fh~ morfgagor hw good ~ght ~~wj~ nufhorily to eonw~r aaid land at a~o?e-
said: thal tko mortgagor mi~~ ma~e suck ~urfh~? assurnnees ta p~r~eci~tke ~ee simpla tttla to aaid Iarwl in t4e
nwrtgage~ as may ?ensona6ly bo required; thnt tl?e moreA~ h.~by Jully wwmnb the title to said Iand ~
nnd will de(end !he snme against tb~ law/ul clairnt oJ nll penons wl~omsoever; and tknt said Innd ~s /rec ~
and clear o/ nll encumb.ancQS except for taxes for 1'973 -
PROVIDED, FiOWEVER, that the mortgagor will receive the prac~eds
of the 1972-73 orange fruit crop, and the mortgagee shall retain
ownership of the 1972-73 grapzfruit crop and be given access for
picking the fruit.
No release of the liEn of this mortgage shall be granted on
account of down payment for the purcliase hereof. Releases for sub-
~sequent payments on this mortgage shall be computed_at $7,000 per
acre, and land so released shall be in contiguous parcels, each
parcel extending the full depth of the lands fram highway frontage ~
to property line furtherest from highway frontage. Each parcel shall
' be in at least the amount of ten acres. Payments for releases shall
be applied upon next accruing mortgage payroent. There shall be no
releases during 1973.
.
~S~ that i~ snid mortgagor skall pay unto aaid ~nortgages the osrtnin promis-
sory note hereina~ter substnntiauy copied or identificd. fo•urit:
'~.3~,
i
Flt4MI~SC?RY PIOTE f
198. 800 . 00* Orlando, Florida February 23 lg 73
FG~R VALUI: RFGFI~'ED~ tl~e undersigned jointly and severally promise(s) to pay to tne orc~er of
Selby R. Burch and Joseph S. Burch, as Successor Trustees Under the will ,
ztof W. L. Story, deceased - '
Route 2 Box 119, ~+inter Garden, Florida F
or at such ~Iace as the holder(s) of this note may designate_ in writing the principal sum of
! **One Hundred Ninety-~ight Thousand Eight Hundred and 0/100**** DOLLARS
~ t~gether ~ ith ii~terest thereon from date at the rate of 8 % per annum
C on the unpaid balance until paid. '
~
~ This note is due aiid payable on February 23, 1977. Interest is to be `
~ paid annually on the anniversary of this note. Z'here shall be no right '
~ of prepayment in 1973, but the mal:er may prepay without penalty in 1974 ;
,
and thereafter. ~
~
t
~
~
5
F
If default be made in the payment of any installment under this note, and if such delault is not
made good within 30 days from due date the entire principal sum
~ snd ~ccr~ed interest shall at ance becume due and gayable without notice at the option of the holder(s) of
° Lhis note. Failure to e~:ercise this option shall not constitute a wai~ er of the right to exereise the same at
a later time for the same default or for any subsequent default. In the event of defaults in the payment of
this note, and if the same is placed in the hands of an attorney at law for collection, the undersi~?ried hereby '
agree{s) to pay all costs of collection including a reasonable attorney's fee. Presen~nent, pro~est and na ~
:`t' tice are hereby Raived. -
~ KINGS HIGHWAY 37 LIMITED (SEAL)
aS
~ . (SEAL)
~ By: . :~E -~:.t~-- (SEAL)
~
~ - ~ (SEAL)
~
~ , _
~ Q~ _
~ BOOK~~ PACf~~~~j ~
~
~
~ _ - ~ ~
Y ; ~
~ ~ - - x a~`