Loading...
HomeMy WebLinkAbout2461 . ~Q ~ ~ 71iW1~ th. same. tog•th., wleh the e•~um~r~,~h•hditei~ apP~e- nnnc~•, thsroto belonging. and the ronb. issues and projtb thereo j. unto th• mortgagee. In je. ° simplf - the mortgagor covenants with the mortgage. that the mortgagor to indjeastblr iNzed. of said land in fee simple: that the mortgagor has good right and law/ul authorit~r to conwr sold land at ajoro- said: that the mortgagor wiU make such f urth•r aauranoes eo pee%ct eke /•s simpb deli eo wtd land to tla mortgagee as mar roo,onablr be requir+sd: that the mortgagor hrbr f uQr warr~anh rye title to sold land and wiU defend the same against the lawful crams o/ aU Persons whonuoeoa: and that ,old land b (ne and clew of aU encwnbranoes except that certain First Mortgage executed by Bert Rice (misspelled on Mortgage as Price and ANITA FULLER in favor of Robert B. Murphy and Hazel A. Murphy,hia wife dated January 9, 1978 and recorded in O. R.-Book 280 at Page 972 of the Public Records of St. Lucie County, Florida in the original principal amount of $14,000.00. ° . ~p~ thaE ij ,aid mortgagor ,haU par unto said morrgg« flit. P~V- sore nob ~?e+'tb'':ubstantiallr copied or fdentijted. to-wit: _ , - _ , - WRAPAROUND MORTGAGE-NOTE i • $16500.00 Ft.Pierce,Florida.,September_26,1979 FOR VALUE RECEIVED the undersigned promises to pay to the order of BERT RICE and ANITA RICE,his wife the principal sum of $16,500.00 to- t~Pths~r with i?'3t=_"2•eSt on $4,044.64 of principal at the rate_i3f te:: percent per annum and on $12,455.36 at the-rate of eight percent per annum from this date with the reduction of $4,044.64 occurring first,_ both principal and interest being payable in Lawful Money of the Unites States ,such principal sum and interest payable in installments as ~ .follows: _ ~ First payment of $225.46 due October 1,1979,thereafter 59 equal - monthly payments of $255.80. with the first payment to cosunence on November 1,1979 and a like sum on the corresponding day of each like succeeding period thereafter.Then equal monthly payments of $169.86 with the first payment to commence on October 26,1984 and a like sum on the corresponding day of each like succeeding period thereafter until the entire principal balance is paid in full (the last payment being due on December 1,1987).The terms of this Note are full subject to the Rider to the Mortgage securing this dote and making this a Wraparound Mortgage Note.Any prepayment shall first be applied to the first mortgage and note and after it is satisfied the remaining _ balance shall be paid to the Holder of this Note. Such installment payments shall be applied first to the interest ~accuring under the terms of this Note and then tc+ a reduction of the principal indebtedness. The makers and°endorsers of this note further agreed to waive demand notice of non-payment and protest and in the event suit shall be brought for the collection hereof ,or the same has to be collected upon demand of an attorne}•,to pay reasonable attorney's fees for making such collection. All payments hereunder shall bear interest at the rate of ten percent per annum from maturity ~ until paid. This Note is secured by a mortgage of even date herewith and is to be construed and enforced according to the laws of the State of Florida upon default in trepayment of principal and/or interest when due,the whole sum of principal and interest remaining unpaid shall,at the option of the holders become immediately due and payable. Failure to exercise this option shall not constitute a wiave of the right to exercise the same in the event of subsequent default. Payable at:1824 South 33rd Street f r~ ~ Ft.Pierce,Florida.33450 -~-xx~t""~ or such other place as shall be William C.Hanner designated by the holder of this _ ~ -t F • ~ Note in writin l ~ ~ w~h _ g - D se .Manner t ennv.