HomeMy WebLinkAbout0368 .
• ~V~ W the same. fogelher with the tenements, hereditaments and appwte-
nances theroto 6elongtng, and the rants. Issues and profits thenoj, unto the mortgagee, to fee simple. ~
~n~ the mortgagor covenants with the mortgagee that the mortgagor is Indefeasibly seised of said '
lard to jte simple; that the mortgagor has good right and Iawf
u! authortly to convey said land as ajorv-
said: tha! the mortgagor well make such jwther assurances to perjsc! the jte stmpb title to said land to the
mortgagee as may reasonably 6e requinrd: that the mortgagor hereby fully warrants th;. title to said bnd _
and will defend the same against the lawful claims o~ all persons whomsoever; and that said land is (ree
and clear of all encumbrances EXCEPT taxes subsequent to December 31, 1978, and
that certain Irbrtgage given by T. Willard Peterson and Irlirdza L. Peterson,
his wife, to Georgia S. Waring, dated December 18, 1974, recorded in O. R.
Book 234, page 2065. St. Lucie County, Florida, Public Records, in the
original principal sum of $29,500.00, which is to be satisfied with this
transaction.
7
~CO~ ihae if said mortgagor shall pay unto said snortgag.. the oerlsitw psasets-
aa'~? rote here~e.? subt.wttuUy copied or identified, to-wit:
l
$40.000.00 PROtiISSORY NOTE Stuart . Florida
August lei , 19 79
FOR VALUE RECEIVED, the undersigned, jointly and severally,
PROt1ISE TO PAY t0 the order Of T. WILLARD PETERSON and MIRDZA L.
PETERSON, his wife, ~
the Sum Of RT TH U AND AND NO
DOLLARS 40,000.00 , at 307 Wesle Drive Cha el Hill o t
Carolina , or such of er place as t e older-hereof may .
designate in writing, together with interest from date at the rate
of ten(io) percent ( io.0 per annum on the unpaid balance
until maturity. The said
principal and interest shall be clue and
.payable as follows: ~
' One payment of principal shall be due and payable eighteen (18)
months from date of closing.
Accrued interest shall be payable semi-annually every six months
commencing six (6) months from date of clo"sing and every six (,6)
months thereafter"until principal and accrued interest shall"be fully
paid in full.
THIS NOTE IS SECURED BY A MORTGAGE ON REAL PROPERTY IN ST. LUCIE
COUNTY, FLORIDA.
Prepayments, in full may be made at any time, without
penalty. If default be made for -15- days in the payment of
any installment of principal or interest or any part thereof,- the
whole sum then remaining unpaid, with interest, shall, at holder's
option, become due and payable without notice. Failure to
exercise such option shall not constitute a waiver of the right to .
exercise the same in the event of subsequent default. After
maturity, both principal and accrued interest shall bear interest
at ten _percent ( 10~ per annum until paid. ..The .
makers and endorsers of this note further waive demand, notice of '
non-payment and protest. If this note is not paid at maturity and
the same is placed with an attorney for collection, the makers and
endorsers hereof agree to pay all costs of collection, which shall
include costs, expenses and attorneys' fees on appeal.
- _
U LEST DEVELOPMENT,INC(SEAL)
BQOK315 PAGE ~7 By
( SEAL)
. Tft@MAg- S-SMI'T'H,- Pres#,deta~----- -