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Home My WebLink About0350 S 110, 000. 00 Fait l.auderdalc, Ela. July 3, _19Z,3_ ~ ~ 1~l)R \•.~1,t'1• 1:1•( 1~.1~'!=(1, I• al~:, or ei::~~r of u~, p:omise to pay to the order of 4 , WALTER J, COWART, J. EDGAR CO~~ART and NORAIAN J. COWART • Qne Hundred Ten Thousand and no/100---------------------""-"-'I~,~LI.ARS _ the offices ot Fee, Parker & Fee, P.A., P.O. Box 1000, Fort Pierce, ~ Florida 33950 or w erever e se o er ereof may in ~~riting designate, °•xith ic~crrc~t fmm da~ eig~_ ( 8u ) r'- cent per ~~'~annum ~~~~1 ~?aid, rd>~hl~ a+ fclluws: ACCY'Ll@G~ interest payable annually with principa < 4~}~t~~~~-incipal sum hal l be payable in fi.ye ( 5) suc~essive equal ,C~ annual instal.:~~nts of ~22~0OO.OD each, the first of said instalIments ~~'Obecoming due and payable one (1) year from date. ^~~The within note may be prepaid in its entirety at any titne,wi~hout pen- ~ alty. After I~ecem~er 31, 1973, nartial prepayments, with interest, on the sum prepaid, may be made without penalty, but any sum so pre~aid on ~h~;,principal shall be applied in payment of the then last maturing 2nsta1l- Y~_~ ments aue hereunder. ~o~ ($165.00 s~at~ revenue stamps) C ` ~ N O r O . t h'ow. should ic becomr aecessary to collect th:s ea:e ;:~ug.'-. c~ s_.,'_~/, r::.4r: of ~s. whecier m~ker. sure~y~ or endorser oq C`~ chis noce, hereby agcee to pay all costs ot s~c: c~litc:eon. :c~':._:-; •=LSC~su:t !;corey s f_r. T6e dtawers snd endorsers J severall~- wraive presentment fur pa}-ment, in ~:c;rs~, R~~ :atirt ~=f==j: »~:s to[t. ~ I[~ •TiII: EV~~'I" xny paymenc o[ inccrest or ~::acipsl br ao; p*_;c thirty ( 3~ ) dsys after che s~me . • hecomes due~ tne hutder of this ~ott may, et nis o~:io~, dec:_re cr~~.t ~tincipal sum leteof to be immedi~tely due aad pe~yable. SHEAR- AP.RER COMPANY (Not Incoroora ed) ' ~ 1 (S~at) BY = Sral) - Sidney Bar er, Partner ~ ~ (Scal) (S~al) ,and-shall duly, promptly and fullp perform, ciischarge, execute, effect, complete, complc a•:th and abide by eaeh and every the sLipulations, agreements, conditions and co~•enants of said promissory note and of this mortgage, then this mort,gage and the estate hereby created shail cease and be null and void. It is understood that each of the words, "note; '"mortBa~;or" and "mortgagee" respectively and the pm- nouns referring thereto, whether in the singular or piural anya•here in this morigage, shall be singular if one only an@ shall be plural jo3nfly and se~erall>, if more than one, and shall be masculine, feminjne andJor neuter, wher- ever the conteat so implies or adu~its. And said Mortgagor for himself and his heirs, legal representati~es, successors and ass:Bns, hereby coven- ants and agrees to and W ith said ~Sort~agee, his legal representati~•es, saccessors and assigns: 1. To pay all and singular the principat and intere=t and che carious and sundry sums of money payable by virtue of said promissory note, and this mort~ase, each and e~•erp, promptl~ on the d2ys respecti~ely the same severall~ become dae. 2. To pay all and singular the taxes, assessments. !e~-ics, liabilities, obli~ations and incumbrances oi ever? nature and kind now on said described propert~, and!or that hereafter may be imposed. suffered, placed, levied or assessed themupon. and/or that hereafter may be levied or ass~ssed upon this mort~a~e andtor the indebted- ness secured hereby, each and e~ery. k•hen due and payable according to la~~, before thep become delinquent, and before anv interest attaches or anr ~enalty is incurred: and in so far as any the:eoi is of record the sauie ~hall be promptly satisfied and discharged of mcord and the original official dceument [such as, for instanee. the tax receipt or the sa*_isfaction paper officiativ endo:sed or certifiedl shali be olaced in G`~e hands oi said :~iortgagee within ten days next after pa~-ment: and in the e~ent that any thereof is not so paid, satisfied and discharged, said Mortg«~ee may at anl' time pay the same or any part Lhereot wit~out naicing or affecting any option, lien, equity or riRht under or b.r ~irtue of this mori~age, and the full amount of each and every such payment shaU be immediately due and payable and shall bear interest from the date thereof until paid at the rate of ten per centum per ar.num and togethe~ K~ith such interest shall be secured by the lien of this mortgage. insuran ' the usual standard policy form. in a sum not less than ; . . . . . . . . . . . . . . , ~ pany or com s as mav be aporo~•ed by said Mortgagee; and all such insurance policies on of said build- inSs, any interest ein or part themof, in tre aggregate sum aforesaid or in excess th , shall contain the usual standard mortg clause making the loss under said policies, each and ev , payable to said Mortga- Ree as his interest may ap and each and e~•ery such policy shall be pro deli~•ered to and held by said Hortgagee; and. not less than t ys ;n adr•ance oi the expiratIon of policy, to delive; to s:eid MorLgagee a renew-al thereof, together nith a r ' t for the premium of su ewal; and there shall be no sueh insur- ance placed on any of said buildin~s. an rest therein o thereof, unless in the form and with the loss na~able as aforesaid; and in the ecent an~ su m omes payable under svch policy or policies aaid _,+Sortgagee shall have the option to i~eceive and c same on account of the indebtedness secured hereby or to permit said Mortgagor to recei~•e and " r anv thereof for other purposes without thereby vPaiving or impairing anp equity, tien or ri~h er or bp virtu~ o " mortgage; and in the event said Mortgagor shall fer any reason fail to keep t premises so insured. or @eliver promptly any of said policies of insurance to said biortga , r fail nromptl~~ to pay fulic any prem herefor. or in any respect fail to per- form. discharge, ex , effect. comnlete. ~mm~l~ Kith and abide bY this co t, or any part hereof, said Mort- eagee may pla d pay for su..!; insurance or any part thereof without wuiv affecting any option, llen, eqnitv o under or b~- ~~irtnP nf this morteasre, and the futl amount of esch a •ery such payment shsll be ' iatelq due and payable and shall bear interest from the date thereof until paid e rate of ten per 4. To permit, commit ar s!:ffer no c~aste, impairment or deterioration of said property or any part thereof. 5. To pay all and singular ti:e costs, char;~es ar.d expenses, including reasonable lawyer's fees and cost of abstracts oi title, incurred or Tf:~id at an~ time by saici MorLgagee berause and/or in the e~;ent of the isilUre cn the part of the said lfort~,asor to dul~. promptly and fully perform, dixharge, eaecute. effect, Complete. comply with and abide b~ each ard ererc the stipulations, agreements, conditions and eovenants ot said promis- sory note, and this mort~a;:e, an~• or e1!hrr. and said costs. charges and expenses, each and every, shall be im- mediately due and paS~ablc. ~:~~e!Y:~•r or i:ot there be notice. demand, attempt to collecZ or suit pending; aad the !ull amount ot each and ecer~• sarh pa.m~nt s!;atl bear ~nterest from the date thereof until paid at the rate ot !en per centum per annum: ar~l ;~1! ~ai~fi c~~~is. cha:res a:.d expenses so incurred or paid, together with suCh 1n- terest. shall be secured b~ the 1:~_n of :his :nottgage. °~ex ~~6 Fa~~ ~~J~ Y - ~w -~~-z ~ - _ . f