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1fi111( t~s same, tog~fl~r? wtfh ths ten~tnenl~. ,~~!!o?n~r~4..and oppwts- '
nances Iherelo be~onging, and f~e ?enb, issues and pro/ib theroo~. wato th~, fiqrlgugN, tw ~ iimple.
n1~R fhe morfgago~ c~ovenanb w11I~ ll+s morfAag« fhat the mortgapor ta i~fJ.a,i6ty aeised o) satd
~and in fe~ simple; l1~at t1~s rnorfeagw hw goc~d Hgtit and ~nui`u~ auf~ority to c,a«.y ,atd la?~d as aja+e-
satd: thal !{~e mwtgaAor will mn~e :uch furtht~ auuraiu~ss to pt?~ec! tk~ jN ~impb titl~ to sntd [and tn l1~~
inorfgages os may ?eaaona6lq be roquired; lhnt fhe mort9ago? 1~~n6y Ju~~y wannnta f~it tit~e to said land
and wil! d%nd ~I~e :ama agalnat the law(ul clairru o~ all p~?sona w6or~uo~vK: nnd tlint tald land ta jree
and clear o) aU sncwnb?nncer
except restrictions, reservations, limitations and easements
. of record, applicable zoning laws, ordinances and regul.ations,
if any, and real estate taxes for the year 1978 and subsequent
years.
.
~~5~ that I~ iatd ~nortgngot shaU pay unto aatd mortgogea ehe cwtain promb-
,o.~? noe. he.et.w/t~ ~u6.tanttaUy ~oFred or ~ tdent!/isd. eo-~,it ~
PROMISSORY NOTE
$10 , 6 5 0. 0 0 S~art ?_,j'1~~_
~ AuqtLSt 25 r ly 78
FOR VALUE RECEIVED, the undersigned, jointly and severally, PROMISE
TO PAY to the order of RICHARD I. HARRIS and CHRISTINE M. HARRIS, his ~
wife, the sum of TEN THOUSAND SIX NUNDRBD FIFTY DOLLARS ($10,650.00),
at 25712 Nugg et Street, E1 Torro, California, or such other place as
the holder hereof may designate in w.riting, together with interest
from date at the rate of eight per cent (8$) per annum on the unpaid
balance until maturity. The said principal and interest shall be due
'i and payable as follows:
' In sixty monthly installments of $215.96 each, vor.~nencing
on the 30th day of September, 1978, and continuing on the }
; 30th day of each succeeding month thereafter until the -
f entire indebtedness has been paid. In any event the balance
~ of principal, if any, remaining unpaid together with accrued
` interest, shall be due and payable on the 30th day of August,
F 1983. The installments of interest and .principal shall be
` . applied f irst to the interest on this note, and. the balance
; shall be applied in reduction of principal.
;
> Prepayments, in full or in part, may be made at any time, without
penalty. If default be made for 15 days in the payr.ient of any
€ installment of principal or interest or any part thereof, the whole
sum then remaining unpaid, with interest, shall, at holder's option,
= become due and payable without notice. Failure to exercise~such
option shall not constitute a waiver of the right to exercise the
3 same in the event of subsequent default. After maturity, both
; principal and accrued interest shall bear interest at eight per cent
` (8$ )~Ser annum until paid. The makers and endorsers of this note
further waive demand, notice of non-payrnent and protest. If this~
note is not paid at maturity and the same is placed with an attorney
for collection, the r~akers and endorsers hereof agree to pay all
` costs of collection, which shall include-costs, expenses and
' attorneys' fees on appeal. - '
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g C-, .
~ Lether Sapp ~
Wp147v ~ALE ~ s(
Lois M. Sapp
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