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Home My WebLink About0732 , : 120,000.00 . sruAar. Florida. Decemt~er.l5. » 76 FOR VALUE RECEIVE~. !h~ ut+detaiqncd. joinllY and :t~etaltr. PAOMI5E TO PAY !u ths ordes ot ~ . M. & W. LAND. INC., a Tennessee corporatinn authorized to da business.in the State of.Florida . . . , h One Hundred Twenty..Thnusand and nn/00-.------------------------------------------- oo[.[.~AS. a! _ . . . _ . . . ot such ofher place ~s lhs holdet ` hei~oi m~r d~siqnal~ in ~rrifiag, loy~lh~t with foteresf ttom dale al fhe rats of 10 per centum pe~ ~~num o~ !h~ unpaid balann untjl maiurit~. Th~ s~td p:lAeipal ~nd iote~est shall b~ due and payable as tollows: itiierest only. at the toregoing rate, payable one (I) year from the date hereof. Principal payable as follows: Twelve Thousand (a12.Q00.00) Dollare. plus interest at the foregoing rate. payable two (2) years from the date hereof; Twelve Thousand (=12.000.00) Dollars, plus interest at the foregoing rate, payable three (3) years from the date hereof; Twelve Thousand (512,000.00) ~~.;ars, plus interest at the foregoing rate. ~ia~rable four i4} years from the date hereof; ~ighty- Four Thousand (~84,000.00) Dollars, plus interest at the foregoing rate, payable five (5) years from the date hereof. The holder agrees to discount the amount of principal due (a ) 15$ if this note is. paid in full within six (6) months after date; (b) 10$ if this note is paid in full within twelv (12) months after date: (c) 5$ if this note is paid in full within eighteen (18) months after date . The foregoing discount shall apply to principal only and not to accrued interest . The maker may prepay any part or all of the unpaid principal at any time before due without payment of premium therefor . i/ delault b~ ~n~de I~t 30 dars in Ihe paym~n~ ol ~ap in+lal6wenl al Ori~tip~l or ial~reat or ~n~ parl IArreo(, 16e ~.hole •um Ihen ~emainin~ u~~aW ~i1D intt~est ~h~ll ~t A~Ide~ ~ ep~ion 6ecom~ due ted o.~ya61~ ~ilAout wot~ce. Failur~ io eti~t~~~e au~h op1~~ ~Awll nof co~~titut~ ~A aive~ el Ibe ris?l to esercixe t6~ auwe in 1h~ etenl e( ~~~b~equ~nl d~lault. Aller malurily bolA Principal and accru~d mHr~~1 ~b+ll br.~ in~rrest at per ~entum yer anaum ual~l Paid. Th~ n~akers ~wd endorsers ol ~6:~ ante lurther ~r~i~~ demrnd, notic~ 01 ~on-oaY~ewt and prolesl. 11 this note n nol paid ~t m~tu~itr ~nd tAe sam~ is pl..c~d wilA an atto~aer lo~ tolleclion, the maltera •nd endorser~ fierro~ a~r~e to par all eosls ol colleclion, iacludin~ alI court cest• •nd r~~~enable ~~teraer lee~. /8/ w~u~~ J . B088 (SEALI . _ _ _ _ William J . Bosso /s/ Jose H . Sotolongo . . isE~L~ _ . Jose H . Sotolongo . ISEllL1 ; . . . . . . _ _ lSElIL) and ahall duly. promptly and fully perform, tLacharge, execut~, ef[ect, completr. ^omply w~th and ab9de by each and everv the stipulation~, agreementa, cond~tlons and covenants of srud prum~s~ory note and o[ th;~ mortgage. then thia mortgage and the eatate hereby created shall cease and be null anu ~•oui. - It ia underatood that each ot the worel~. "note," "mortgagor" end "moRgagee" respecti~•ely and the proa- ouna re[erring theret0. Whether fn the singular or ptural anywhere in thla mortgage, ~hall be aingular it one oNy and aha11 be plurnl jointly and xveratly, if more than one, and shall be ma4culine, fem~nine andior neuter. wher- ever the conteat ao impliea or admits. Md nald Mortgagor for himnelt and his heira, legal tepresentatlvea, auccessors and assigns, hereby rnven- ent~ ana agrees to and with said Mortgagee, hia legal rcpreaentative~, successors and assigna: ' 1. To pay W and aingulat the principal and intereat and the variou~ and sundry auma of money payable by virtue of said promiasory note. and this mortgage, each ead every. prompUy on the daya rrrpectively the eame aeverally become dtu. 2. To pay sll and singular the tsuce~, ~essments, leviea, liabilities, obliRation~ and incumbrances o[ e~erq nature and kind now on said de~cribed property, and!or that hereatter may be imposed, auffered, placed, lea~ed or asaesaed thenupon, and/or that hereatter may be levied or assesseri upon this mortgage and.'or the indebted- II~ ness secured hereby~ each and e~~ery, khen due and payable accoMing to law, be[ore they become delinquent~ 'i and before any interest attaches or any penalty is incurred; and in so far as any thereof is oi record the sume shall be prumptly satisfied and discharged ot record and the onRinal ot[~cial document (auch as, tor it~stance, ihe tax receipt or the satiafaction paper officially en~forsed or certifiedl shNl be placed fn the hands ot said ; 3tortgagee within ten days next after p3yment; and In the event that any thereot is not so paid, satisfied and discharged, said l?tortgagee may at any time pay the same or anv part thereof w~thout wai~~ng or affeciing ; ~ any optiDn, lien, equity or right under or b~ ~irtuP of this mortgage, and the full amount of each and e~ery - auch payment shall be immediately due an~i {~aynble and sh:?11 bear interest from the date thereof until paid at the rate of ten pec centnrn per annum and togetn~r with such interest ahall be aecured by the lien ot thie ~ mortgage. _ S. To placn and cont~nuously ke~p on the bu,ldin~e now or hereafter aftuate on aaid land flce and windstorm ~ Inaurance fn the ~4ua1 standarcf policy form, in a sum not lesa than :~llg~8t I11B11P8blE..Y.81338 in auch com• ; "s pany or comp^nirs as may be approved by sai~l Dfort~;a~~•e: umi nl! such insurance policies on any ot said build- j inga, any intere~t therein or part thereof, in the a~~r. Kate sum aforrsaid or in excess thereof, ahall contain the ? usual standard mort~agee clause makm~ the luss ur.der a~~d pof:cies, each and every, payable to said 2?tortga- ~ gee as his interest may appear, and each ar.d e~•ery su~•h ~licy shaU be promptly delivered to and held by aaid ~ 1?tortgagee; and, not less than ten daya in ndranre of lhe expirntion of each policy, to deliver to swid btortRaRee ~ a renewal thereof, toRether Nith a receipt for thP prrmium of an~h renewwl; and there shatl be no such insur- ~ ance placed on any of aald buildinRs, any interrst therein or part thereof, unle.~.s in the torm and with the lose papable aa a[oresaid: and in the e~•ent any aum of money become~ payable under such policy or ~+olicies said Mort~;a~;ee shall ha~e the opU~~n to recei~e and apply the 4ame on account of the indebtednesa secured hereby or ~ to ~rmit said Mortga~or to re~ef~e nnd uce !t or any pnrt thereof for other purposes without thereby waiving or impairing any equity. lien er ri~ht under or by ~ irtue ot thi9 mortgage: and in the event said Mortgagor shall for any reason lail to keep the sai~ pr~misrs so in4umd, or fail to delfver prompUy any of said policies ot insurance to sa~d Dtortg:ySee, or fail promptly to pay tully any premium therefor, or in any respect [ail lo per- form, discharRe, eaecute, effect, complete, comply with and abide by this covenant, or any part hereof, aaid Mortg- ageP may place anA pay for si~ch insurance or any part thereof withoui waiving or atfectinq any option. liPn. equity or right under or by virtue of thia mortRaRe, and the full nmount ot each and every euch payment ehaU be immediately due and pa~~able and nhall bear intprest trom the date thereof unttl paid at the cate o[ ten per centum per annum nnd together with auch fnterest shall be secured Dy the llen oi thls mortgeRe. To petmlt, commlt or sutfer no v?aste, impairment or deterloratton ot satd property or nny part thereoL ~ ~ 6. To psy aIl and singular the coste, chargea and expenses, Including reaaonaDle lawyer's teea and coet ot abstracta ot title. lncurred or pald at any time by aafd Mortgagee becaux and/or !n the event of the fallure 1 on the part ot the said MortgaRor to duly, prompUy and [ully pertorm. dlscharge, e~[ecute, etfect. complete~ I comply with and ablde by each and every the ~tipulations, sgreements, condiUons and covenants ot snid pmmis- 1 ~ eory note. end this mortga~;e, any or either, and sxid costa, charges and ezpenae~, each and every, ahall be im- _ mediately due and payahle, whether or not there be notice, demand, attempt to coUect or sult pendin~• and the ~ full amount of each and every such pavment shall bear interert trom the date thereof untll pald at the rate oi : ten per eentum per annum; and all aatd coets, chargei and eapense~ w..lncucred or pq'~ Wgether with auch 1n- s terest, s1u11 De sccured by the lten ot thls mortgage. ~ ~ ! I 4 7 4~ 26~, P~~E 730 ~ ~ - ~