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~ W the same, together with the tenements, heredifamenls and oppurfe-
narrces thereto belonging, and the rents, iuues and prof its thereof. unto the mortgagee. in j~ simple.
the ,mortgagor covenants u~ifh the mortgagee that the mortgagor is indejeastbly seized of said
land in Jee simple+;~that the mortgagor has good right and lawful authority to rnnt~ey said land as afore-
said; that the mortgagor will malts such further assurances to pe?ject the fee simple titb to said land to the
mortgagee as mny reasonably be required; that the mortgagor hereby fully warrants the tiffs fo said land
and will defend the same against the lawful claims of all persons whomsoever; and that said land is free
and clear of all encumbrances except that certain first mortgage as recorded
in O.R. Boor 213, at Page 2337 of the public records of St. Lucie
County, Florida.
t
PROVIDED ALWAYS, that if said mortgagor shall pay unto said mortgage -
the certain promissory note hereinafter substantially copied or
identified to wit:
. b 000-.0 _ ~ - _
_ _ - r.:. _ _ - _
- _ - Fort Pieros, Florida S.~~rem~er1,$ 19~:
_ _ .
For value noetved, 1, we, 4r dither of us, ~promke to pay without defalcation to ~ the order of - _
ii ng Qrpp g r at ~ office of the peYee
. r a C y tru t. b~ C r do _ - ; -
~n_Tn -OP00 or apt sOch other pleas as #ts pp~ros • ! dssbnrts. i ~ tp. -i
a
- sum of ~ . . _ - . with ~ iMtrat from date at .the {atrt `o
f _ per ~ . ,pear _ _ -
_ _
in"monthly. it>sta~in>Mta a: fdlo~was, ao~?Itr - ~ - ~
X101.58 ~ . ~ 10th.- dy ~ 4v tuber 19.~._.__and a like. sent ,
- on the irq day of each like - succeeding month whereafter until Faid in full
- NotWi~het8nding t e below tated_ right o~ `prepayment,. this herein -
promisaory- ~riobe can-not~ be paid- until""- December. 12, 1980 or on any -
monthly die date ;thereafter. _
in the event arty .amounts aurently due. and/or past due under the-terms of fht: note are not paid- -
by tha2~th day of the month.: s late, penalty of 5.0'X.. of the. combined ;amounts tly_ due :and/or _
pest due, will bs added b and o~llected with :whatever amounh ere due .for the month in question. 1f -
currently due and/or Psst due- psymerr~s or Parts theroof under. the terns of.this note amain unpaid
--at`the--and of -arty ~+sonth~ ther+ said uryssid ,amount--will-be-carrisct-forvrard--ancf added-ta the-ennounts-- _
oomirig due under the. terms of this rate ~ subsequent month: for. the purpose. of oalcvlating aubsegaerit
late penalties.. Amount: due under the terms of this note- are understood to be but not limited b
,(i) Regularly amortized interest and prirdpal psymeMS.
City arld/or county taxes when paid by the. payee herein.. -
(3) Insurance premium: when paid by the payee herein.
Senior mortgage payrtisnts when paid by-the payee.-heroin.:... .
(!0 Street, sewer end _ water liens when paid by tits .payee herein. _
Each ir?stallmsr>r first shall be` applied . in the payment of the interest .and then on the unpaid bat-
_ dace of the principal sum. if default is made in the. payment of any; .installment- when due, that! st tits -
option of the fiolder, end without any other ratios, ell the ; remaining installments shall be due and payable at -
once. Privilege is given to pay two or irate installments at arty instahment maturity date, but this shall
ref extend the time of maturity of any- wbsequent installment. Ne'ither' .forbearanas, ..nor aooeptartioe by -
the holder hereof after any default in any payment hereon, shall be deemed extension.
Each maker, surety and endorser hereof. lointty and. severally, waives demand, presentment,
protest and ratios of protest for nonpayment, and further agrees to any extension of -.time of payment, _
either before or afier maturity, without ratios to any oPusj end to pay all -costa of collection, including •
roesonabk attorney's fee in the event of any default hereunder.
/3/Claudne ~t3abler Ladd (~-illesple -
WITNESS THE HAND6 AND SEAL Of EACH PARM'he l~?U
(~°?U
. /S/ John E. Gillespie t~U
45Ea?U
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