HomeMy WebLinkAbout2161 ~ 60,D9Q.00 - Stuart, Florid, jtpri l G ,
For valve troNved, 1, we, or either of us jointly and severally promise ro pay in lawful money of tF+e Uftited States of '
i
America 10 the order of FIRST NATIONAL BANK AND TRUST COMPANY OF STUART at its office in this city the principal
-•---•-----•SixTr Tt+Ous~rto ti~D r~o/100--------------------------------N--_--
sum of - ..---.......Dollars
taea111at whh MNafaal from dart M Ilea late of pM cMltrrtt pa annwn an the unpaid balanq until paM, aid p~~ artd innraaf ro b• payable M
five hundred Seventy-Nine aced 03/ 100 ~ 579.03 l l~~ . ~ ~
tolbws: M matthly InatalMtartta of - .
Nor 79
....5]UZ.&....... des d .«h n~ertth b.oititirw en th. ~ . dsy of . , 11_-.-----~
October
and oontinuMO on tM ~ 6 dry of oath and ovory ngmh thonahor vnHl tM °7"~~ dsy of
11 a~ . an wttkf• aaW daM rho antiro bla+oa d principal and inbrMt tMn unpaid sM11 bat:onw dw and payable. Each payment b ro bo applied
lint ro innrosf and Iles balance ro pintipal. M t:aa aid MrtallrrrnM, a any of tMm, an not paid within 1S days afro. tM amo bscano des, tlta whet
sf aid phKlpal and [ngtast surtt shill foHhwhh become duo and psyablo of the option of tM Itolda of this non.
Wo. tl+o makers. suroNaa. artdonsn and •wrsnton of the nao. hereby severally waive pasantmant fa payment, notice of nort~paymant, prone and
notice of proNSL and diliaortoa of brMpir~ auh aaaYW any party tharoro, and tenant that lima of paymsm may bo ostandsd w~thovt notroa thsroot ro
any of rho suntiN d thls tester
New. should h M rtaaassary n onlMa thA testa tMouph an attartay, each of w. whether maker, swoty a ondasor on this veto, hsroby agree ro poy
all eOaN of saki collactien, irtcltrdlne • roMOnabla ottanal?'a fN.
SaW bank Y Itstoby oxprsasb avtheriasd m tMain ~ eonaral a apaaal dopait, collateral, nal a personal acwity, a the proceeds tharwf, bdorq•
irq ro oitMr of t», now a horeefnr in rho pogoaion of h dwinq rho tin» this non remains unpaid. and bafao a afNr maturity horsof may apply 1M
sntr ro this a wry other debt a liabilhios of ehhor of us ro said bank, due a ro bacoen des. Given under the hand and seal of oath party.
TN1S IS A BAlL00N MlORT6AGE AND THE FIlrjAl PAYMENT OR THE BALLOOti DIN: UPOM MATURITY IS
S43,SOO.DO T06fTHER MITH ACCRUED IttTEREST, IF ANY. AND ALL ADVA.'fCEi'~NTS MADE BY TNC
MORT6Ar6EE ipiDER Ti~E TERMS Of THIS MORT6A6E. /s/ John A. Gear
iSeaq
P. ~
/s/ Penelope A. bear
No Due (SMl)
and shall ditty, promptly and fully perform, discharge, execute. effect. complete, comply with and abide by each and every
the stipulations. agreements, conditions and covenants of 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;' "mortgagor" and "mortgagee" respectively and the pronouns referring
thereto, whether in the singular or plural anywhere in this mortgage, shall be singular if one only and shall be plural jointly
and severally, if more than one, and shall be masculine, feminine and/or neuter, wherever the context so implies or admits.
And said Mortgagor for himself and his heir, legal representatives, successor and assigns, hereby covenants and agrees
to and with said Mortgagee, his legal representatives, successors and assigns:
1. To pay all and singular the principal and interest and the various and sundry sums of money payable by virtue of
said promissory note, and this mortgage, each and every, promptly on the days respectively the same severally become due.
2. To pay all and singulaz the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and
kind now on said described property. 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 indebtedness secured hereby, each and every,
when due and payable according to law, before they become delinquent. and before any interest attaches or any penalty is
~ incurred; and in so tar as any thereof is of record the same shat! bt promptly satisfied and discharged of record and the
{ original 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 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 same or any part thereof without 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
shat! be immediately due and payable and shall bear interest from the date thereof until paid at the rate of ten per ccntum
per annum and together with such interest shalt be secured by the lien of this mortgage.
3. To place and continuously keep on the buildings now or hereafter situate on said land fire and windstorm insurance
in the usual standard policy form, in a sum not Icss than the highest insurable vaiue, in such company or companies as may be
approved by said Mortgagee; and all such insurance policies on 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 loss under said
policies. each and every, payable to said Mortgagee as his interest may appear, and each and every such policy shall be
promptly delivered to and held 6y said 111ortgagec; and, not less than ten days in advance of the expiration of each policy. to
deliver to said Mortgagee a renewal thereof, together with a receipt for the premium of such renewal; and there shalt be no
such insurance 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 to receive and apply the same on 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. lien or right under
or by virtue of this mortgage; and in the event said Mortgagor shall for any reason (ail to keep the said premises so insured, or
fail to deliver promptly any of said policies of insurance to said Mortgagee, or fail promptly to pay fully any premium there-
for, or in any respect fail to perform, discharge, execute, effect, complete, comply with and abide by this covenant, or any
part hereof, said !1ortgagee may place and pay for such insurance or any pan thereof without waiving or affecting any
option, lien, equity or right under or by virtue of this mortgage, and the tuft 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 ccntum per annum
and together with such interest steal! be secured by the lien of this mortKa>Ze.
4. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof.
5. To pay alt and singular the costs, charges and expenses, including reawnable lawyer's 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, conditions and covenants of said promissory note, and this mortgage, any or either, and
said costs. charges and expenses, each and every, shall be immediately due and payable, whether or not there be notice, '
demand, attempt to collect or suit pending; and the full amount of each and every such payment shall bear interest from the
date thereof until paid at the rate of ten per ccntum per annum; and all said costs, charges and expenses so incurred or paid,
together with such interest, shall be sect?red by the lien of this mortgage.
~ooK307 P~E~16i .
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