HomeMy WebLinkAbout0165 NOW, THEREFORE, in consideration of the premises and
mutual covenants hereinafter set forth, the parties hereto
agree as follows:
1) Borrower represents and warrants that it is the
owner of the above-described real property and that there
are no liens or encumbrances against said property other
than the aforementioned mortgages and real estate taxes .
accruing subsequent to December 31, 1976.
2) The current principal balance of the total indebted-
ness evidenced by the ~forementioned promissory notes is in
the amount ~of $ 238, 355.13 and accrued ihterest at
the rate of 8 1/2$ per annwn has been paid to May 24, 19?? .
3) The indebtedness evidenced by the above-described
promissory notes is hereby consolidated~and shall be payable
in monthly installments in the amount of Two thousand, one
hundred dollars ($2,100.00) each, for one hundred sixteen
~ 116 ) consecutive months, commencing on June 24, 1977.
Each such installment shall first be appZied to payment of
interest at the rate of eight and one ha3.f percent (8 1/2$)
_ per annum and then to the unpaid principal balance. On
February 24, 1987, the entire remaining principal balance
and accrued interest shall be due and payable. If default
' is made in the payment of any installment when due, and 'such
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; default continues for thirty (30) days, then at the option
~ of Lender or its assigns, the entire principal sum and
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~ accrued interest shall be due and payable at once; and from
~ the date of such acceleration the remaininq principal balance
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shall bear interest at the highest lawful rate of interest
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then authorized under the laws of the State of Florida.
Lender may, at its option, collect a late charge not to .
, exceed two cents (2~) for each one dollar of each install-
ment payment not paid when due to reimburse Lender for
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~ expenses of servicing delinquent installment payments.
~ Privilege of prepayment in whole or in part at any time is
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hereby given, but any partial prepayment shall not extend -
the maturity date of subsequent installments.
4) The above-described mortgages are hereby consolidated
~ and shall henceforth be considered one mortgage given as
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B~~K 269 ~~~E 165
N[ILL ORIIPIN JCrfRIE3 i ILOYD
~ CNARtEpED
P O BOI( 1270. iORT PIERCE. FLORIDA 3N50 - TELEPNON[ (]051 464-92 00