HomeMy WebLinkAbout1479 s~~+2.,000•~ Vero Beach, Florida March 19 197.9.
AS below specified ,fie. date, 1, we or either of us promise to pay to the order of
K & K, INC., a Florida Corporation
One F~icired Forty Ztao llrnlsand and No/100----------------------------------
- - - - - - _ . _ DOLLARS
Office of Fee, Koblegard & Teel, P.A., Attorneys at law, Fort
for value received, payable at
_~].~1CE,._-F14>C~.S~a---- - - . with interest
from at the ate of __10,~ _ per cent per annum until paid; interest payable . __annually.
And each of us whether maker, guarantor a endorser, hereby severally waives and renounces any and all homestead exemption rights we
may cove under the Cerolitution or Laws of the State of Fbrida, or any other State, or Urwted States, as against this note: aril each further wa~vr•t
demand, notice of rwn-payment and protest, and in ttr event it baco+nes necessary to collect this note Itrough an atto+ney, agrees to pay all costs
of collection, including reasonable attarry's fee.
Ttle principal of this note shall be due and payable in five equal annual install-
mertts of $28,400.00 commencing March 21, 1980 and continuing on the same date
of each and every March thereafter tmtil said principal sun is`paid in full. In
addition to the principal payments, interest shall be due and payable at the rate
of 10.0'% per anniml on the lalpaid balance from time to time remaining and shall be
due and payable the same dates as the principal payments, In the eve9nt of default
in any payment of principal or interest , which default shall not be corrected
within 30 days thereafter, then the entire remaining ts><paid balance shall imnediatel
become due and payable at the option of the holder of this note. The lnak~er reserves
the right colmmencing after January 1, 1980 to make any payment on or before its
due date without penalty.
s/ Richard M. Dozier
No.--------•---------------- - - - SEAL
R,,I!(~iARD Mme-DOZIE,,R~---1-.-~-~---------
IAVL' Y. -~~~Z,1C.t( sEAL
and shall duly, promptly and fully perform, discharge, execute, effect, completr, comply with and abide by each
and every the stipulations, agreements, conditions and covenants of said prom?ssory note and of thL la~ortgage.
then this mortgage and the estate hereby created shall cease and be null ana void.
It is understood that each of the words, "note," "mortgagor" and "mortgagee" respectively and the pron-
ouns referring thereto, whether in the singular or plural anywhere iri this mortgage, shall be singular 1t one only
and shall be plural jointly and severally, if more than one, and shall be masculine, feminine and/or neuter. wher-
ever the context ao implies or admits.
And said Mortgagor for himself and his heirs, legal representatives, successors and assigns, hereby coven-
ants ana agrees to and with said Mortgagee, hie legal representatives, successor9 and assigns:
1. To pay all and singular the principal and interest and the various and sundry soma of money payable by
virtue of said promissory note, and thin mortgage, each and every, promptly on the days respectively the same
i severally become due.
2. To pay all and .singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every
nature and kind now on said described properly, and/or that hereafter may be imposed, suffered, placed, levied
~ or assessed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted-
ness secured hereby, each and every, when due and payable according to law, before they become delinquent,
l and before any interest attaches or any penalty is incurrrd; and in so far sa any thereof is of record the same
shall be promptly satisfied and discharged of record and the original of[tcial document (such as; for instance,
:he tax receipt or the satisfaction paper officially enriorsed or certitiedl shall be placed in the hands of said
l Mortgagee within ten days next after payment: and in the event that any thereof is not so paid, satisfied and
discharged, said Mortgagee may at any time pay the sane or env part .thereof v~~thout waiving or affecting
any option, lien, equity or right under or by virtue of this mortgage, and the full amount of each and every
such payment shall be immediately due and payable and shall bear interest from the date thereof until paid
at the rate of ten per centurn per annum and together with such interest shall be secured by the lien of this
mortgage.
8. To place and continuously keep on the bu,ldinga now or hereafter situate on said land fire and windstorm
t insurance m the usual standard policy form, in a sum not less than s >a~a~~ab.lfR..-Yalwe---._.., fn such com-
pany or comp^nies as may be approved by said bfort;,•atce; and all such insurance policies on any of said build-
ings, any interest therein or part thereof, in the aggregate sum aforesaid or in excess thereof, shall contain the
usual standard mortgagee clause making the I+,ss under said policies, each and every, payable to said Mortga.
gee as hie interest may appear, and each and every sur•h policy shall be promptly delivered to and held by said
Mortgagee; and, not less than ten days in advance of the expiration of each policy, to deliver to said biortgagee
a renewal thereof, together with a receipt for the premium of anr•h renewal: and there shall be no such insur-
ance placed on any of said buildings, any interest therein or part thereof, unless in the form and with the loss
payable as aforesaid; and in the event any sum of money becomes payable under such policy or policies said
Mortgagee shall have the option fo receive and appiy the same nn account of the indebtedness secured hereby or
to permit said Mortgagor to receive and use it or any part thereof for other purposes without thereby waiving
or impairing any equity, Ifen or right under or by virtue of this mortgage; and in the event said Mortgagor shall
_ for any reason fail to keep the said premi9es so insured, or fail to deliver promptly any of said policies of
insurance to said I?tortgagee, or fail promptly to p:sy f+llly any premium therefor, or in any respect fail to per-
form, discharge, execute, effect, complete, comply with and abide by this covenant, or any part hereof, said Mortg-
ages may place and pay for such insurance or any part thereof without waiving or affecting any option, lien,
equity or right under or by vit•tue of this mortgage, and the full amount of each and every etlch payment shall
be immediately due and payable and shall bear interest from the date thereof until paid at the rate of ten per
centurn 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 deterloratlon of said property or any part thereof.
~ 6. To pay aU and singular the costs, charges and expenses, including reasonable 7awyer'e fees and cost of
abstracts of title, Incurred or paid at any time by said Mortgagee because and/or in the event of the failure
_ on the part of the said Mortgagor to duly, promptly and fully perform, discharge, execute, effect. complete.
comply with and abide by each and every the stipulations, agreements, conditfons and covenants of said promis-
sory note, and this mortgage, any or either, and said costs, charges and expenses, each and every, shall be lm-
mediately due and payable, whether or not there be notice, demand, attempt to collect or salt pending: and the
- full amount of each and every such payment shall bear interest from the date thereof until paid at the rate of ,
tan per centurn per annum: and all sold caste, charges and a:penses so tncurnd or paid. together with such tn-
~ tesest, shall be secured by the lien of this mortgage.
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