HomeMy WebLinkAbout0503 .
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~o ~ue and to 1~~~~ t{ie samc~, fo{~rl~~~~r u~if{~ ftie tPnt~menls, he?eJifamenls a~i~ apptute-
nances f~~ereto helonfling, anc~ fhq rents, issues ane~ pro(its l~u~rroJ, unto the morlgapee, ip ~ee simple.
~nd ~he mortflaflo~ couenants u~ith Ihe mo?tgnc~~e 1{iat the mortgagor is in~e~easi~jy seizecl o~ saicl
~nnd in fee simple; tl~at fhe mortgagor ?~as good rigl~t ~nd raw~ul authorily lo con~~~y said land as a~ore-
saic~; f~a! t~e morlgagor wi~l make suc~ ~urfher ossurances !o pPr~ecf I~ie lee simp~e Iff~e lo saia land in fhe
mortgagee as mny reasonaf~ty be reryuirecj; thqt t~e morfgapor hern6y rei«y warranta Itie fif~P tu saic~ ~anc~ ~
and will de%nd Ihe same against the 1aw/ul C1QfRiS o/ aI! p~?sons who?nsoever; and tha~ said land is jrpe
and clear o/ all pncumbrareces except taxes aCCriting SL1b_Sequerit tA DeCembeY' 31 ~ 1976 .
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30~,800.00 Fort Pierce, Florida, ~~r 19, , 1977
I~R V1~,LUE REC~IVED, the undersigned pranises to pay tA the order o~ ~ S. JA~~S Ay~
J~'~~+lFS, his wife, and RDBERT P. RIGEL, the princigal sum of ~ HU;VDRID THOUSAIv'D EIC~-TT
`:~RID A~ID NO/100 DOLT~IRS (5300,300,00) , t,ogether with interest thereon at the rate of eight
~,rcent (8$) per annun, payable as follows:
A m~ratoriun on all principal and int~rest granted for a period of sixteen (16) mc~nths
from the dat~e here~f, then installments of $4,423.53, plus interest 1/68th of the totaZ
interest previously accru.irx~, based upon the schedule as follows: Prepayment of princi-
pal shall tie repaid and parti.al release of seoond purchase mvney mortgage secvring this
oblic~ation shaZl release as follows:
L~=~I:S 1 through 68 RELEASE PER i~TIT $4, 423.53, the total of which constitutes
5300,8~0.00. Accnied interest s.'~all be repayable based on 68 units and 1/68th of the
total interest shall be repayable simultaneously with the payment and/or prepayment and
; release of each unit hereirxiescribed. In the event, for any reason, the ~oondoir.ini~c?
i units are not c~nstruct~ed and/or substantially campleted upon the Iand enc~anbered by
~ the purchase mr~ney mortgage securirx3 this instr~rnent, then in that event repayment shall
~ i~e as folla~~s: Prirycipal repaybale over five (5) equal annual instaZlments oorm~encing
tw~enty-four (24) m~nths frcm the date hereo~, the first installment to include all
~ accrued and a 2i.ke instal~ment each year thereaf~er until paid in full.
~ `1'ne r;~ers and endorsers of this note further agree to ~,raive d~and, notice of n~n-payment
, :~rotest, and in the event suit shall b~ brourht for the collection hereof, or the same has
~ collected upon der~tiand of an attorney, to pay reasonable attorney's fees for making such
~ :~ectior~. All payr?ents hereurr3er shall bear interest at the rate of peroent per annurn
::rnaturity until paid. This note is secured by a mortgage of even date hereY~zth and is tr~ be
j ~:~,trued and enforced aco~n~ing to the la~ws of the State of FZorida; upon defau].t in the payrnent ~
i ;~-rincipal ar~d/or iriterest when due, the cahole sum of principal ar~3 interest resnaining unpaid
~ ~Z, a~.tne option of the holders, beoome irm~diately due and payable. Failure to exercise
E c~tion shall not oonstitute a waiver of the right to exercise the s~ in the event of sub-
' ~:`nt derault.
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~ Ric;;,t of pre~-~aycc~nt in whole or in part is r~ranted without penalty any t~me after Dec~nb~x
` , -i977.
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O(~'.RNI2ISE OF HiTPQ~I~ISQ'V ISIA~TD, II~
a Florida oorporation.
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BY: ~ ~ ~ ~~c, ~
{CC::'~')::~~'^`' SF~~„ C~:WV~ ,S. JAA~'S, Presider~t,. • -
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A~ST: -t
RO~E~i P: 'RIC~:I,, SeC['etary
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It is understood by the payees that Gerald S. James and Judy James
tnc owners of an undivided or.e-na3£ interest and that Roberr P.
iZige: is the owner of an undivicied one-half znterest of the within note.
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