HomeMy WebLinkAbout1340 ~o ~iaue and to Mold Ilre same, follelher willr the fertemerrls, he?eclifamenls and appurte-
nances Iherela belonging, and the rnnts, issues and profits Ihercwf, unto the mortgagee, in fee simple.
end the mortgagor covenants with the mortgagee that the mortgagor is indefeasibly seized of said
land in fee simple: that the mortgagor has good right and lnw(ul authority to rnnvey said land as of
ore-
said; that thv mortgagor will males such further assurances to perfect the fee simple title to said Land in the
martgagee as may reasonably be required ; that the mortgagor hereby fully warrants the title to said land
and will defend the same against the lawful claims of all persons whomsoever; and that said land is free
and clew of all encumbrances except that certain first mortgage as recorded
in O.R. Book 245, page 2325, St. Lucie County PUBLIC fiecords.
PROVIDED ALWAYS,-that if said mortgagor shall pay unto said
mortgagee the certain promissory note hereinafter substantially
copied or identified to wit:
E 2,700.00 No- ~3n
Fort Pierce, FloridaSeptember 25, 197.E
For value received I, we, or either of us, promise to pay without defalcation to the order of
Harris Construat~on Corporation , st the office of the payee
herein in Fort Pierce, Florida or at such other place as the payee herein shall designate in writing, the
sum of ~.-2.; Tnn _ nn with interest from date at the rate of.~.$~-% per annum, payable
in monthly -installments as follows, to-wit:
~ 68.57 on the i0tl'' day ofNovember t9 79 and a like sum:;
on the corresponding day of each like succeeding month thereafter until paid in Pull _
-
In the evert any amounts currently due and/or past due under the terms of-this note are not-paid "
by the 25thday of the month, a late penalty of 5.0% of the combined amounts currently due and/or
past due, will be add«! to and collected with whatever amounts are due for the month in question:- If
currently- due and/or past due payments or parts thereof under the terms of this note remain unpaid j
at the end of any month, then said unpaid amount will be carried forward _ and added to the amounts
coming due under the terms of this note for subsequent months for the purposg of calculating subsequent
late penalties. Amounts due under the terms of this note are understood to be but not limited to.
(1) Regularly amortized interest and principal payments.
(2) City and/or county taxes when paid by the payee herein.
(3) Insurance premiums when paid by the payee herein.
(4) Senior mortgage payments when paid by the payee herein.
Street, sewer and- water liens when paid by the payee herein.
Each installment first shall be applied in the payment of the interest and then on the unpaid bat- ~
ante of the principal sum. If default is made in the payment of any installment when due, then at the
- option of the holder, and without any other notice, all the remaining installments shall be due and payable at
once. Privilege i3 given to pay two or more installments at any installment maturity date, but this shall ~
not extend the time of maturity of any subsequent. installment: Neither forbearance, nor acceptance by
the holder hereof after any default in any payment hereon, shall be deemed extension.
Each maker, surety and endorser hereof, jointly and severally, waives demand, presentment,
protest and notice of protest for nonpayment, and further agrees to any extension of time of payment,
either before or after maturity, without notice to any of us;-and to pay all costs of collection, including a
reasonable attorney's fee in the event of any default hereunder. -
WITNESS THE HANDS AND SEAL OF EACH PARTY. /S/ Timothy Phillips
/S/ Jeraline Phillips _ (S~?~) _
640Kt]l~ PA6E~~ (SEAT)
- (S6°?~)
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