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~'o ~ve ~nd to ~otd !~e same, togethe~ wFfh+t~e ten~ntenla. ~eredifoments and appurte-
nances thereto f?e~onginp, an~ i~e ?ents, issues an~ prolifs t/~ereo~, unfo fhs rru~rlgages. tn ~es simp~e.
~ the mortgngor cot~enQnla rut11~ the mortgagee tl~at Ihe mu?tgagor is i~dv~ew~61y seized o~ satd
Iand in ~ee simpJe: t{eat Ihe mortsngor hw good ~ieht and lau~jul authoritr to convey sai~ land w ajoro-
sai~: ~l~at ~I~e mortgagor will make such Jurther assurnnces to per(ect the ~Re aimple ttfle to said land in the
mortgageF as may ~easona6ly be requIred; Ihat fhe mortgagor h..~6r (ully .wannnts II~e tiile lo satd Ia~d
and u~ill de(end Ihe same agninst fhe law)ul claims o( al~ penons whom:oeuer and lhat said Iand is jree
and clenr oJ all encum6rances
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~rouided ~liwnys, fhat i~ said morlgagor sha~~ pay unto soid mortgagee tke cerfain promis-
sory nole hereinafter substanti411y copied or_ identifiec~, to-wit:
tNSTALLM ENT NOTE
~ 181~ 050.00 Fort Pierce, Ftorida, _____s~lll~_~$_ 19~
For value received we, jointly and severally, as principal p~omise to pay without defalcation to the order
~f William H. Cole and 81eio Cols, hie wife
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at 4he
seum o~graey 07073
One sunarea Eiyhty-ona Thou~an8 Fifty Dollars and no 100----_~----- DOLIARS
with interest from date at the rate of S~ ~6~ per an~nuim,-=in ms~ments, payable as follows, to-
wit: $9, 052.50. Pltte 1nte1~e9t ~DO~~?tt5, on the 16th day of _____sLus1^ ~ 74 _h
and ~9~ OS.Z.50, plve j,IY~I~at pp~~qRS, on the _ 18~ day of ~ ~ *
yeaia~ro~a~~te of c~noni~ig~a~erpwfi~e~ni~ may
~e
pz~--pai8 in whola or in ~auct, without psnalty.
Esch installment fint shall be applied in payrn~nt of the interest and then on the unpaid ba ance of ihe pri~cipal sum. If defavh is mad~ in
the ment of an i~staNment whert due then, at tion of the payee all the remaining ir~stallments shall becort~e due and psyable at onte. ~
Should it become necessary to collect this note through an snorney, either of us, whethrr maker, surety or-indorser o~ this note, hereby-agrees
ro pay all cosh of collection, including a reesonab!e attor~ey's fee.
j The mskers, sureties and irwbrsers hereof severslly waive presentment, protest and notice of protest fw non-payment of th~s note and agree
~ that the tirrM of its maturiry may be extended befwe w aftcY mawrity and do further severally ag~ee to any renewal thereof before w aher maturity,
' °f eucoeedinq eiu months thareafter. until ths whole aum ~emed
` is paid. . -
F (3 State documentary ~S/ Willlaltl E. Reuter ~s~nL;
stamps attached to original
~ u euter
~ s e~. . - ~A~1
~ note and cancelled) $t21~1 C. R6ut~r
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i - - (SEA!)
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;;After five years from date, the mortgage holder hereby agrees to re-
flease from the mortgage the property covered thereby in amounts of
ijnot less than one acre, and multiples of an acre, at the rate of
~$3,300.00 per acre of proceeds paid on principal. The acre on which
(the house is situated is excluded.from this release clause and shall
(not be released except by agreement of the parties. The property re-
- leased on Okeechobee Road, pursuant to this clause, shall bear no
~~higher fractional relationship to that remaining property on Okeecho e
1 M~hAM~ff 10'~QL1 Q 1~
~ ,xoad, as tne iozdi i~~~~~vr,a~ Yivt+~i..Y re~,.,,,.,..~ ha ~ar in the
~ iproperty a~ a whole. For example, if 4096 of theproperty is eligible
'for release, no more than 4096 of the Okeechobee Road frontage shall
be released. The releases wili be in contiguous tracts, and Okeechob e
~ ~Road frontage shall b~ construed to include a depth of 200 feet.
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