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ten (10~) per cent per annum due upon the principal sum or
so much thereof as shall, from tune to time, remain unpaid,
and the balance of each payment shall be applied to the
reduction of the principal. .There shall be one final payment
of 6123,197.82 due and payable on August 1, 1984 plus interest
to date of payment. All payments of interest and principal
are payable at the office of mortgagee at 300 South Sixth
Street, Fort Pierce, Florida.
4. The accrued interest on said. Promissory Note
and Mortgage shall be payable from the Geiger Trust due W. W.
Arnold, which said payment is due on August 23, 1979 and which
said payment shall be applied to the accrued interest on said
Promissory Note and Mortgage through July 31, 1979.
5. If any of said payments of interest and principal
shall not be paid when due, then the entire principal sum and
accrued interest shall become due and payable at once, at the
option of mortgagee herein or the holder of said Promissory
Note and Mortgage.
6. If default be made.in the payment of any of
the said sums or interest or in the performance of any
agreements contained herein, or in. performance of the .terms
of the Mortgage securing the Promissory Note hereinabove
described, then, at the option of mortgagee herein or the
holder of said Promissory Note and Mortgage, the principal
sum then remaining unpaid with accrued interest shall immediately
become due, payable and collectable without notice, time being
of the essence of this agreement, and said principal sum and
said accrued interest shall bear interest at maximum rate
then allowed by law, from such time until paid. The mortgagee
herein is given and agreed to have the right of set-off
against all deposits, accounts, credits and other property of
each maker, guarantor and endorsor in possession or control
of the mortgagee herein for any and various sums due hereunder,
without requirement of notice.
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