HomeMy WebLinkAbout0480 '€o ~laue and to Mold 1bP >nna•- fufp~fbe•r a ~ilr 1{~?• l.•nemertls, {tP?Pdilanu•r?ts earl u~y.aef~•
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r+ar+res tleraPtu {,Plore-ryi?rq, nrirl f{?P rents, issues and projifs 1{~~•rPOj, unio t{?P mortgQgNP, 1/l (?•t• .in~plr•. ~
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1i„~ Ilu• mortgaf~or r•o~~Pr~ants u+iflt 1{tP mortgagee 1{fat the mortgagor is indPjeasi{rly sri:Pd of said '
j land in (e•P simple: that the mortgagor has good right and lawful aut/tority to convey said land as afore-
~j said; 1{eat IbP mortfagor will mnkP such (urfber assurances to perjPrf Ilte fee simple Lille to said land in flte
jj mortgagee as may rnasonably be rPyuired; that the mortgagor hereby fully warrants the Title to said land '
aurl rriU rlejend lice same ngainsl flee lawjtd claims of all persons whomsoever; and Heat said land is (rPe
II~~ and clear of all encumbrances
!f EXCEPT: Taxes for the ear 1979 and subse uent '
y q years; and
Dlineral reservations and exploration rights reserved
i! unto the Trustees of the Internal Improvement Fund of the
State of Florida as recited in deed dated 3/24/23 and filed
i 12/24/23 in Deed Book 53/261; and
j! Existing first mortgage in favor of Bank of Stuart, i
i N.A,, dated 9/29/72, filed 10/13/72 in ORB 207/707 in the `
original principal amount of $50,000.00.
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~rou~ded Always, that ij said mortgagor shall pay unto said mortgagee the certain promis-
sory note IlPrpina(tPr substantially copied or identified, to-wit:
~I _
- PROMISSORY NOTE
S 1 Z 011 .4 3 Florida~ep i emher? ~ 19Z~
FAR VALUE RECEIVED the undersigned. jointly and severalty. promise to PAY TO THE ORDER OF
MARC K. MASSAR, Trustee
The principal sum of One Hundred Twenty Three Thousand Eleven and 43/1.00 Dollars _
tS 123 , 011.43 )together with the interest thereon from September 28, 1979
at ~ the rate of nine percent per annum until maturity, all payable in lawful money of the United States of America. -
asfollows: Four (4) equal annual payments of Twelve Thousand Three Hundred One and
1~/100 (512,301.14) Dollars plus interest commencing one (1) year from Sept-
e~:ber 28, 2979. The balance of Seventy Three Thousand Eight Hundred Six and
";'100 ($73,806.87) Dollars plus accrued interest is due and payable at the end
of the fifth year from the date hereof.
This Note is prepayable in whole or in part in multiples of Ten Thousand and
'.iU/100 ($10,000.00) Dollars after December 31, 1979.
"1,~is Note is secured by a Purchase Money Mortgage of even date herewith and
_hall be construed and enforced in accordance with its terms and the laws of
the State of Florida. -
All payments shall apply first to accrued interest, and the remainder, N any, to reduction of principal. It any installment of principal tx
1r,terest is not paid when due, O? upon any default in the performance of any of the covenants or agreements of this note, or of a~I
instrument now or hereafter evidencing or securing this note or the obligation represented hereby, the whole indebtedness (including -
principal and interest) remaining unpaid. shall, at the option of the holder, become immediately due. payable and collectible, and while in
ten f 1 n 1 rcent per annum.
default, this note and deferred interest shall bear interest at the rate of ~ Pe
Each maker and endorser severally waives demard. protest and nonce of maturity, non-payment or protest and a!1 requirements neces-
sary to hold each of them liable as makers and endorsers. Each maker and endorser further agrees. ~ointty and severally, to pay ap
costs of collection, including reasonable attorney fees in case the principal ai this note or any payment on the principal or any interest
thereon is not paid at the respective maturity thereot, or in case it becomes necessary tq protect the security hereof, whether suit be -
brought Or not 1,
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payable at 23950 S. W. 167t Ave e ~ _ (Seal)
z`AYLE A. BERNSTEIN, Trustee
.~iam~ea~,~l~._~3U~0 - (Seal)
or such other place as shall be designated by the holder
or this note in writing.
•~wr A-s•
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~~.8 Y~~E 479