HomeMy WebLinkAbout0826 . . ........a. . . ~..,..~~.6,.... . . .......r sa. ..e..
~ FOR VALUE RECEIVED. tb• undercigned. JoietlY a~d se~~rally, PROMISE TO PAY 2o ths ord~~ of .
_ .M. b W.. LAND, INC._... . _ _ . I
Tv~ro Hundred.Fifty .Thousand . (E25.Q.OQO. Q0)
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~at _ . . _ . . . . _ . . . . . . o: such olhs~ pl~c~ asDfh~ holder
heseo! m~~ desigoat~ ia wrllinq. loqefh~r with interesl irom date at th~ rate o1 9 3/4 per centum per a~num on ih~ u~paid
balane~ ut~lil mafuritT. Th~ s~id p:lacipal ~nd inter~s! shall b~ due and payable as lollows:
In Full on or before December 31, 197? .
The Maker may prepay any part or all of the unpaid principal at any time
before due without payment of penalty therefore . ~
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delault !s made Iw 30 dar~ in lhe parment of aa~ iaslallment ol P?incip~ o~ inl~rest er aar Part lAe~~of, tAe wrhole suu lAen remainin~
u~paid ~it6 inter~st sAa11 af A~Ide~ ~ eptien become due wad Parable ~ithoul nulice. Failu~e Ie eaercise sucA oplion ah~ll net toostitule a vaioer el 16e
ri~ht to e=eni~e tAe ~ame ~n Ihe e~eet ol au6aeqwwl delaull. Alttr a,aiurier both princiwl +ed accrued int~r~st shall br..r inleteat an 9/4 per centuin
yer annuw untii oaid. The makers ~nd eadwsers ol tAia nole lurtber w~ive dewand, notice al non-parme~t a~d protesl. It tAis Kotlr is not paid nt
maturitr and tb~ same ia ol~ced ~ill~ ae alto?we~ forcoilectien. the sahers and endorae?s Aereol a~ree to par all costa ol colkction, iadndin~ all cou?t
costs and reasoaable attera~~ fe~s. -
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W' 1' m J. Bosso .
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J e H . Sotolongo
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and shail dul~•, ~?romptly and full~• per[orm, dixharge, execute. etfec4 complete. crnnply wiih an~l abide by each and e~try
tl~e stipulationa, a};rccmeuts, rouclitionc aud co~~rnants o( said ~romiswry note and o[ this mortgage, el~en this mortgage and
the awte hereby trcatcd sLall cc:~ec and bc null and ~•oid.
It is understc~od that eacl? of the worJs, "note;' "mortgagor'; aud "mortgaFee" res~?ecti~•ely auc! the ~~ronouns teferriup
thereto, wLethcr in the singular nr ~?lur.il au}Nhcrc iu thit mortKa};e, shall bc si~igular i( m~c oul~• and shrll be plural jointly
and sevcrally. if m~rc thau o~~c, and sl~all I?e rnasa~line, tcminiue aud/or ncutcr, whc~cvcr il~c contcxt so im~~lics or admi~c.
And said Mor~{;akor (nr l~imsclf aud his Lcirs, legal represeutati~•ca, sucicssors aud auigus, Lcreby coveu~nts and agrces
to and with said .~Iortgagcc, his Icgal rcpresentatives, suctessors and assigns:
1. "I'o pay all and sin~uL~r thc princi~>tl and intcrest a~id tlic ~•arious and sui~dr~• uuns nf moncy pa~~able lip virtuc nf
said promiuory uoee, and this mort6~rKe, each and e~•ery, promptly on the da~s respecti~•ely tlie same se~~erally Lr~~?mr ~lu~•. -
2. 7'o pay all and sin~ular tl~c taxcs, asscsuncutc, le~•ies. liabilities. obligatiuns aucl ina~mbriuccc ~.f r~e•~~
kinc! uow on wid dc+cribed ~~ropcrt~•, and/or that herea(tcr may I~e im~x~scd. w[(crcd, pla~~•~I. lc.~~~-~1
aud/or that hcrcaftcr m•ry Lc Icvicd or a~sccuYt upon this mon~age and/or tl~c indcLu•~I~ir.c .r~ ~~r~~l h~ i•.,,',
whcn d~re and payablc acconlin~; u~ law, I,cforc tt~er• bccomc dclinqucnt. and br(orc au~~ ini~ .~n.~~ i~~•. ~,~•n.+l~~
incurrc~l; a!~d in so (ar as any tl~erco( is of rccorcl the same shall be pronq?tly s~tisfiect anil d~~cha~~;~•d u( recorct aud ~hc or-
i~~nai olfi~ial ilixumcnt (such a,. (or iu~tancc. thc tax rcccipt ur ~hc s:ui~(action ~~a~~cr n((icially eodorscd or tcrti(icd) shall
!x placcd in thc hands of sai~l \i~~rt~;:~~;cc ~.ithin tcn days i~cxt aftcr ~>a}~ncut: aud in thc cvcnt that ai~~• thcrc.~f is not so
paid, satisficd and ~lixliaigcd. s:~id AlortRaRce inay at any timc pay tl~c s:irnc ur au~ part ~hcrcnf wi~l~out ~.ai~•iug c~r a((cct-
j ing an~ option, lirn, equity or ri~;ht undrr or by vir~ue of ~h~c niortKa~e, auel the (ull am~~une of eaclt aucl e~•e~y ~uch pay-
u~cut shall.Vc i~uu~rdi:ucl}' ~luc :n~d ~?:i~•atilc -rnd ~Lali bcar interest from thc d:itc thcr~~[ until paiJ at thc ratc o[ tcu Ncr
j centum per auuum aud together with sucl~ inte~est sl~all be secured by the lien u[ this murt};age. - ~
E 3. To place a~id continuouslv kce~~ on thc buildings notv on c~rcafter situate on c.7id land (irc auci ~~ind.torm iasur-
~ ance in the uwal ~taud:inl ~~lic?• f~um, in a sum uot leu tl~an the hiy;hest i~~surable ~•atue. iu sunc ~uu~~?a~~~ or companie~ as ~
~ ma~~ Isc apNrovcsl by said AfnrtG~~cc: and all such iucurantc I~licics on an) of sai~l buildin~;., any intcrest ihcrci~~ ~r pa~t
~ thcrcof, in the a~Krc~ate sum aG~rc~.~iJ or in cxcess thcrcof, shaU cont:~in thc ucual uanda~d mor~Ra~ce clausc makiu~ tlie
lo.s undrr said ~x>licics, cach and c~•cry. ~~:~~ab1c tn sai~l \lort~a~ce as liis iutcrc~t ma~• a~,~?car. and carh and crcry soch ~wlicr
shall be prumptly deli~•ercd a? an~l held liy saicl ~Iort~Rce: and. uot Icss thao ten da}'s in ad~•ance of the cx~~intion o[ each
~ poiic~•, to deli~•cr to wid \Ior1Ka~;ce a rencwal tl~crcnf. t~getl~er with a rrccipt (or ~hc ~~rc•mi~un o( such rc~ichal; aud tl~cre
~ shall be uo such i~isur:u~cc ~,lau•d on any ~~f v~id buildiu~s, auy intcrcu ~hcrcin nr ~,:~rt thcr~ti~f. unlc~s in thc fonn ai?d wi~h
~ the locc ~~ayable as a(oresaid: a~id in the e~cut :u~}' sum o[ m~nc~• becrnnes pa~•al,lc uudcr such ~?~~lic~• nr jx~licic~ wid \lun~;a~cc
shall ha.•e the optiou t~ rccci~~c and aE,~?I}' thc same on accou~u of tLe iaJcbtcdncsc sccurcYl hcrcby or to pcrmit said ,\fortfia-
~ ~;or to rccci.•e aud usc it or a~~y ~?~rt thcrco( for othcr pur~~~scx with~?ut thcrcl~y v,•ai~•ii~~G or imp:+iriu~ :ii~~ cyuit~. licn or
~ right undcr or b~• cirtuc ~f this mort~;aKc: aud in the e~•ct~t wid i(~~rt~ahor ~h:iil (nr a~i~• rcau?n (ail to kccp thc s:~id premixes
~ so insured. or tail to dcli~•cr prum~,tly any ~rf said ~x~licicc ~f insurancc to c:~id Alurt~;a~cc. or fail pruin~?tly to pay hdly any
premium theref~r, or in au} respect fail to perform, diacl~ar~e, exe~utc, cltert. crnuple~c, comply ~vi~h and nbidc b} tliis cov-
cnant, or any part hcrcot, sai~l l~lor~~a~ce may placc ancl ~~ay (or s~uh insurancc or anv part ~hcre~~( ~~ithuut ~.•ai~~ing or
altectin~ au}• option. licn. ec~uity ~r ri;;ht undcr or by virtue uf this m~rtKa~;e. and the (ull amouut of cad~ aud c~•en su2fi
~~.~~~ment shall be immediately duc :~ucl paJable and shall bear iuterest from tDe datc therco( until p~id at the ra~e ot ten
j~cr centum per annum and together with such interest shall Ue securecl by the tien ~of this mortRage.
z 4. To pcrmit, commit or su(fcr uo Mauc, impairmcnt or dcterioration o[ said propcrty or any part thcrcof.
5. To pay all aud si~~~;ul~r th~r cocts, cl:arfics and cxpcnus, i~~cludiu~; rcac~~uablc la~v~~cr'ti fces aud cost o[ :~L~tr.act~ of ~
> titlc. incurrcct ur paid at any timc hc .:~id ~fort~aRcc bccauxc and/or in thc c~cnt of thc (ailutc on thc part of ~hc said - f
` Mortga~or to duly, proinptly and Gilly ~?crform, diuhargc, cxecutc. cffcc~, com~~lctc, c~mpl~• ~~•ith and abidc by r.~ch and
' ! e~~cry• the stipulationc, a~rccments, cnnditious a~~d co~•enants nf s:~id pmmisuxy n~~~c, and thic mortRa~;c, any or ei~licr, and
3 ~aid costs, cl~arges aud ex~~enses, each and e~•ery, shall be immedia~ely due ancl payable, ahether ~~r not there be uutice, de-
a mand, attcmrt tn collcct or suit pcu~iinR: and thc (ul) amnunt o[ cach :~nd cccr~~ such ~~aymcnt shall I,car intcrest from thc
~ date thereo[ until paid at t6e rate of ten per centum per annwn: and all said oosu, d~arges and expensa so incurred or paid, ~
~ together witl~ such interest, sliall be securccl by the lien o[ this mortgage.
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