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Home My WebLink About1835 • 27, 377.78 January 30_ - 1979.. S ti FOR VALUE RECEIVED the undersigned, jointly and severally, PROMISE TO PAY to the order of - - _ _ W.- _R. LAUGfHON as Trustee _ ` '15~1'I'Y S):UF~1 THUJSAhID THREE liIJNU'tID SEVEZ`TI'Y SI:VII~I and 76/100 _ - - - - DOLLARS, -----------------------------------r--------------- - Stuart, _-Florida - _ . or such other place as the holder a hereof may desi Hate in writing together with interest from _-._.-ddt_e-- - - at the rate of ____..-1~~___ per centum per annum on the unpaid balance until maturity. The said principal and interest shall - be due and payable as follows: Interest only on July 30, 1979 and thereafter in equal sar,.i-annual instal~.ntents of $3 502 71 each to bg ~~inigd on the 30th day _of ch Janua~cy and Jul thereafter beginnu~g.January ~0, X980 and oontin~i shaluntil the 30th say o~ July, 1984 at wlu~h tune the c~s~tire principal balance with interest 1 become due and payable. Each such seni-annual • instalLnent shall be applied first tro the payment of interest on the unpaid balance and then to the payment of principal. The privilege of Waking principal payments in advance or the due dates without penalty is retained bx the maker provided that no such prepsyn~nts can be ~i~ade prior to Jan 2, 1980 and no pr ipal payments in excess of $13,475.00 can be made i~tween January 2, 1 0 and January 2, 1~1. IF detach M made t« days iw 1M payncewt of any installwrent e1 principal er interact er any part tbereeF, 1M wMle sum then remaining unpaid with interact aMU of Mlder's eptioa become dw and payable witbovt notice. FailYre to eae?cice such eptiow ahaU net censlituk ~ja~n of tM right to exercise IM carve iw 1M weM et wbsegwat detacrh. Atte? maturity Mtb principal and eccrved interest aMU bear inbrett N 7`1' `per centum per annum Ynti) paid. ?M malen and ewdorcerc of this nets iYrtber waive demand, notice of nonpayment and protect. H Ibn note is not paid at maturity and tM came is placed with an attorney for collect:ow, Ibe makers and sndorsen bereot syree to pay all costa o/ cellectiow, inclYdino all coYrt roars and reacowable anorney fees. , ti ~ /$L..Dale_-V._Colean - (SEAL) 1~IaE V . COLF.AN - - Attest: ------/.13L r_len~ Mr- Colgan (SEAL) MA~tL> M. COLFAN- - - - Q - - - (SEAL) . and shall duly, promptly and full} perform, discharge, execute, effect, complete, comply with and abide b} each and every the stipulation. agreements. conditions and covenants n[ said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and void. It is understood that each of the words, "note:' "mortgager° and "mortgagee" respectively and the pronouns referring thereto, whether in the singular or plural an}tivhert in this mortgage, shall be singular i( one onl} and shall be plural jointly and severally, if more than one. and shall be mauuline, feminine and; or neuter, wherncr the context so implies or admits. end said ~fongagor for himself and his heirs. legal representatives, successors and aligns, hc•rrbs ursenants and agrees to and with said \Iortgagte, his legal represenutives, successors and assigns: ~ 1. To pay all and singular the principal and interest and the carious and swedes sum. of money pa}able by virtue of said prnmiswr}• Wore, and this mortgage, rash and every, promptly on the days respectively the same severally become due. 2- To pay all and singular the tarts, assessments, lnies, liabilities, obligations and iucumbrances of esen• nature and • find now nn said dexribed property, audjor that hereafter may be imposed. suffered, placed, levied or asused thereupon, andJor that hereafter may be Ies~ied or assessed upon this mortgage :ndror the indebrednres secured hereby, each and every, when due and payable according to law, before they become delinquent, and bc[ore an}' interest attaches or am• penalty is incurred; and in so far as am• thereof is of record the same shall be promptly satisfied and discharged o[ record and the or- ! iginal official document (such as, for instance. the tax receipt or the satisfaction paper officially endorsed or certified) shall i be placed in the hands of said \inrtgaget within ten days next after p.ryment: and in the event that auv thereof is not so k paid, satisfied and dixharged. said ~(ortgagee may at any time pay tl?e same or any part thereof without waiving or at(ect- ing any option. lien. equity or right under or b}• virtue o[ the, mortgage, and the lull amount of each and every such pay- s mane sl?al! be irrmcdiately clue and pa}ahle and shall bear interest from the date thereof until paid at the rate of tea per centum per annum and together with such interest shall be secured b}• the lien of this mortgage. E 3. To place and continuousk kelp nn the buildings now or hereafter situate on said land (ire and wiud.torm insur- F ante in the usual standard policy torn, in a sum not less than the highest insurable value, in such coml?an} or companies as ~ may be approved by said Mortgagee: and all such insurance policies mt any of said buildings, any interest therein or part thereof, in the aggregate sum aforesaid or in excess thereof, shall contain the usual standard mortgagee clause making the loo under said policies, each and rsery. payable to said Mortgagee as his interest may appear. and each and every such policy shall be promptly delisered to and held by said Mortgagee: and. Hoe less than ten rlavs in advance of the expiration of each policy, to deliver to said ,Mortgagee a renewal therrnf. together with a receipt for the premium of such renewal: and there shall bt no such insurance placed on any of said buildings, any interest therein or pan therrot, unless in the form and with the loss payable as aforesaid: and in the event any sum of money becomes pa}able under such policy or politics .aid Mortgagee i shall have the option to receive and appl}• the same on account of the indrMedness secured hereby or to permit said Mortga- got to rcceise and use it or any part thcrco( for other purlwces without thcrco}• waiving or impairing any equity, lien or right under or by virtue of this mortgage: and in the event said :1(ortgagor shall for any reason fail to keep the said premises so insured, or fail to deliver promptl}• any of said policies of insurance to said Mortgagee, or tail promptly to pay full any } premium therefor, or in an}• respect tail to perform. dixharge. execute. effect. complete, urmpl} with and ,bide by this cov- enant, or any part hereof, said ~(ortgaget may place and pay (or such insurance or any part thereof without waiving or affecting any option, lien, equity or tight under or by virtue of this mortgage, and the full amount o[ each and every such - l,aymcnt shall bt immediately due and pa}•ablt and shall bear interest from the date thcrco[ until paid at the rate of ten per centum per annum and together with such interest shall be secured by the lien of this mortgage. 4. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof- ; 5- To pay all and singular the costs, charges and expenses, includink reasonable lawyer's tees and mst of abstracts of title, incurred or paid at any time by said :mortgagee because andlor in the event of the failure on the pan of the said Mungagor to duly, promptly and full}• perform, discharge, execute, effect. complete. comply with and abide by each and every the stipulations, agreements, conditions and covenants of s.rid promissory note, and this mortgage, any or either, and said costs, charges and capenses. each and every, shall be immediately due and payable, whether or not there ire nmice, de- nand. attempt to collect or wi' pending: and the full amount of each and every such pa}7rtent shall bear interest from the date thereof until paid at the me of ten per centum per annum; and all said costs, charges and expenses so incurred or paid. tn~;rthcr with such interest. shall be secured b}• the lien of this mortgage. gooK304 X1833 s