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~ W the same, together with the tenements, hewditamenfs nr,~ nppwts-
nances thereto belonging. and the rents, issues and prof
its thereof , unto the moNgngee. to fee simple. t
~d the mortgagor rnvenants with the mortgages that the mortgagor is indefeasibly seised of said
land in fee simple: that the mortgagor has good right and lawful authority to convey said land as afore-
said; that the mortgagor will mnlte such further wswances to perfect the fee simple title to said land in the
mortgagee w may reasonably be required; that the mortgagor hereby fully warrants thv title to :aid Innd
and will defend the snore against the lawful claims of al! penora who?nsoever; and that said Land is free
and clear of all encumbrances
PROMISSORY NOTE •
S 25.000.00 February 26 ~ 1979
FOR VALUE RECEIVED the undersigned promises to pay to
the FLORIDA BAPTIST CONVENTION, anon-profit corporation organized and
existing under the Laws of Florida, or order, at its principal office at
1230 Hendricks Avenue, Jacksonville, Florida 32207, in lawful money of the
United States of America, the principal sum of S 25.000.00
payable as follows: $ 277.56 on the day of
February 7fi , 19:'80 and $ 277.56 on the same day of
each and every month thereafter until the. whole of said sum has been paid in
full, together with interest on the amounts remaining from time to time unpaid
at the rate of Six per cent (6~) per annum. Final payment of the entire-
indebtedness evidenced hereby shall be due and payable on the 9th day
of - FPhruar~_. 199.
If DEFAULT is made in the payment of any installment under
this note, and if such DEFAULT is not made good prior to the due date~of the
next such installment, the entire principal sum shall bear interest at the
rate of twelve per cent (12~t) per annum from the date, of default until paid and
shall at once become-due and payable without notice at the option of the holder
of this note .
The undersigned church shall at all times while this loan is in -
effect continue to be a Southern Baptist Church maintaining fellowship with
the Southern Baptist Convention, the Florida Baptist Convention, and its local
association. In the event, the undersigned church ceases to be a cooperating
church, the Florida Baptist Convention through its Executive Secretary-Treasurer
shall have the right to accelerate maturity on the loan. Non cooperation-with
I the Southern Baptist Convention, the Florida Baptist Convention, and its local
association, shall be determined by the Florida Baptist Convention, acting
through its Board of Missions and/or the Executive Secretary~t'reasurer. ~
Failure to exercise these options by the Florida Baptist t
Convention shall not constitute a waiver of the right to exercise the same in
the event of any subsec_uent default. In the event of default in the payment
of this note, and if the same is collected by an attorney-at-law, the undersigned
I hereby agrees to pay all costs of collection, including a reasonable attorney's
fee, whether collection is made by suit or otherwise. This Promissory Note is
secured by a Mortgage of even date herewith and the terms of said mortgage
are by this reference made a part hereof. -
Present~aent, protest, and notice are hereby waived by the
undersigned church. -
FIRST BAPTIST CHURCH OF FT. PIERCB, INC.
.
(CORPORATE SEAL) BY: ~ ~ -2 ~1.~
- PreBident
Attest : ~
secretary
~v~~306 ~~:~1503 -
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