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:25,x,35.78 Stuart ,Florida, May 16 18]~,
FOR VALUE RECEIVED. tM undasiErnd, lolntly and sawnNy. PROMISE TO PAY to tM cedar of
DAVID PARRELLO and ARNOIaD P •
enty- ive Thousand, One Hundred Thirtx-five and 7f3/~ nn____________ DOLLARS.
„2525 S. E. Federal Highway, S tart, F1nr~Aa, 33,4ad erwehotha.placaaathaholdar
bawl may dosiptato in writirN, tooatltar with intact from dat..t 1fN rata f par pntum pN annum on tM tu?paid halanca until maturity.
Tha said principal seed in:seas shall ba dw seed payaWo on or three (3) years from the date
hereof, with interest payable
Prepayment of principal and rest in part or in full may be made
at any time without penalty.
If default De made /0? ~_dayf In the Dayment of any tnftallmenl Of principal or Interest or any pan thereof, the whole sum thin remalnln~
unpaid with interest Mall at holders option become due and payable without holies. Failure tO e><ertlfa such option Mall not coot Itula a watwr of the
right to exercise the same In the .vent of subsepuent default. After matwlty both p?Inclpal and accrued Interest Mato bear Interest at~„Q,~pa centum per
annum until paid. The makers and endorsers Of this odic further wales demand. nOtlte 01 non-paym.nt a?nd p?Ol.ft. If thlf not. If not pa11d alt nnatu?Ily
and the tam. Is plated with an attorney for cdllettlon, the makers and Mdorsen haeol agree to pay alt costs of collettldn, Includlny all court costs and
reafonaDle attorney fqf.
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and shall duly. promptly and fully perform, discharge, execute, effect, complete, comply with slid abide by each and every
the stipulations, agreements, conditions and covenants of said promissory note sled of this mortgage, then this mortgage and
the estate hereby created shall sea<.e and be null and .•oid.
It is understood that each of the words, "note;' "mortgagor" and "mortgagee" respectively anel 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, seed shall be masculine, feminine atrdlor neuter, wherever the context so implies or admits.
And said Mortgagor for himself and his heir, legal representatives, successors 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 sundr}• sum, of mone}• payable by virtue of
said promisson• note, anti this mongage, each and every, promptly ou the days respectively the same severally become due.
2. 'To pay all and singular the taxes, assessments, levies, liahilitics, obligations and incumbrances of every nature and
kind now on said described property, andlor that hereafter may be imposed. suffered, placed, levied or assessed thereupon,
andlor that hereafter may be levied or assessed upon this mortgage and,~or the indebtedness secured hereb~•. each and every,
when due and payable according to law, before they become delinquent. and before any iuterest attaches ,t~ auv penalty is
incurred: and iu m far as any thereof is of record the same shall be promptly satisfied and dixharged of record and the or-
iginal official document (r,uch as. for instance, the tax receipt or the sati•.faction paper officially endorsed ar certified) shall
E be placed in the Lauds of said Mortgagee within ten days next after pa)Znent: and in the event that cut thereof is not so
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paid, satisfied and discharged, said Mortgagee may at any time pay the wme or any part thereof without waiting or affect-
' ing any option, lien, equity or right under or by virtue of thts mortgage. and the full amount of each and every such pav-
~ meat shall be immediately due and payable and shall (rear interest hom the date thereof until paid at the rate of ten per
g centum per annum and together with such interest shall be secured be the lien of this mortgage.
3. To place and continuoush• keep mr the buildings now or hereafter situate on said laud [ire and ward<torm iusur-
ante in the usual standard policy form, in a sum not less than the hi;;hest insurable value, in such company or coml,shies as
may be approved by said Mortgagee: and all such insurance policies on any of said buildings, any iuterest therciu or part
a
thereof, in the aggregate sum a[o*esaid or in excess thereof, shall contain the usual standard mortfagee clause making the
loss under said policies, each and rcery, payable to said Mortgagee as his iuterest may appear, and each and even• such policy
r 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 \lortgagee a renewal thereof, together with a receipt fur the pmmium of such renewal: and the:e
shall be no such insurance placed on any o[ said buildings, any interest therciu or part thereof, unless in the form and with
I the loss payable as aforesaid: and iu ehe event any sum o[ money becomes payable under such policy or policies said Jortgagee
shall have the option to receis•e ant! apply the same on account of the indebtedness secured Lerch}• or to permit said \lortga-
gor to receipe 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 [or any mason fail to keep the said premises
so insured, or fail to deliver promptly any of said policies of insurance to said Mortgagee, or fail prompth to pay fully any ,
- premium therefor, or in any respect fail eo perform, discharge, execute, effect. complete, comph kith and abide by this ms•- '
_ chant, or any part hereof, said Mortgagee may place and pay for such insurance or any part thereof without waiving or
5 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 centum per annum and together t4ith 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, including reasonable lawyer's fees and cost o[ 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 perfotm, 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 hoc there be notice, de-
mand, attempt co collect or suit pending; and the full amount of each and every such payment shall bear interest from the
ii date thereof until paid at the me of ten per centum per annum; and all said costs, charges and expenses so incurred oz paid,
together with such interest, shall be secured by the lien of this mortgage.
ac~?.3Uy ;~r~826
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