HomeMy WebLinkAbout1714 '~o ~ue and to ~otd !he same, fogether with fhe fenemenls. ks?~i~meM~rnnd appu?le-
nances ttiereto belonging, anc~ the renls, Isaues w~d pro~tfs ftiereo~, unfo fhe ~nnortgngN, tn Jse simp~e.
~ Ihe mo?tgagor covenants wilh Ihe mortgogee Ihat th~ mortgagor ts tndtJewt6lr seized o/ snid
lant~ in jee simple: thnt the mortgago~ I~w good righf and Inw/ul authority to convey said land w njore- i
said: thnt Ihe mortgagor will make auc1~ f urtl~er assurances to~er~rct tke ~ee ilmple Ntle fo ~atd Iand tn the :
mo?lgagee as may reasona6ly be requt~: thnt the mo~tgogor k~roby /ully wa~ranb tl~t tille to ,atd la,~d
and will deje~d !he aame ngainat !he Iaw~u~ claims oF all penoni whomsosver and that :~d l~nd ~ j?ee
and clear oj all encum6mnces F
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The Mortgaqee agrees to subordinate this mortgage to a con-
struction mortgage, for construction of a building on the property. ;
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~ ~~1~ ~~s~ that i~ said mortgagor shaU pay unto said mortgagee the certnin promis-
~ sory nofe ~Preinn(ter :u6stanlially coptec~ or identijied, to-uwit:
INSTALLMENT NOTE
$ 79,650.00 Fort Pierce, Florida -
_ $et~t~ 1~ r 12 , 1973
For value received we, jointly and severally, as principal promise to
pay without defalcation to the order of G. J. SCHIPPER and MARTF~1 T.
SCHIPPER, his wife, at R. F. D. #2, Dixon Rd., Frederick, Maryland 2~701
the sum of SEVENTY NINE THOUSAND SIX HUNDRED FIFTY and NO 100 DOLLARS, ~
with interest from date at the rate of Eight (8) percent per annum, in
quarterly installments, payable as follows, to-wit: Three Thousand '
Nine Hundred Eighty-two and 50/100 ($3, 982 .50) Dollars, plus interest,
on the 12th day of March , 1974, and One Thousand Nine ~
' Hundred Ninety-one and 25 100~Dollars ($1,991.25), plus interest, on ~
~ the 12th day of every third month thereafter until the whole sum
: named--is-paid.~he- Buyers-may- a1-so-make-~he-paymc~~t~-in-~ont~ly- - ;
€ installments. The Buyers may pay the interest due in 1973, on or ~
before December 31, 1973, but said payment shall be interest only. ~
~ This note may be prepaid in whole orin part anytime after January 1, ~
~ 1974. Any prepayments shall apply to the next one-third of payments due. ~
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~ Each installment first shall be applied in payment of the interest ~
~ and then on the unpaid balance oi the principal sum. I= default is ~
made in the payment of any installment when due, then, at option of the ~
~ payee all the remaining installments shall become due and payable at t
~ once . ~
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Should it become necessary to collect this note through an attorney, ~
either of us, whether maker, surety or indorser on this note, hereby ~
~ agrees to pay all costs of collection, including a reasonable attorney's
~ fee. ~
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The makers, sureties and indorsers hereof severally waive presentment,
protest and notice of protest for non-payment of this note and-agree
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~s tha t the time of its maturity may be extended before or after maturity
~ and do further severally agree to any renewal thereof before or after ~
~ maturity, without notice of them.
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( SEAL) -
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~ - Harry . Re nol s ~
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. ~ ~ ~ ~ooK 2~.8 ~i?13 ~
I~ y S State documentary _ ~
stamps attac ed to original note •
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~ and cancelled)
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