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~o ~iaue and to Mold the same, tagetl?er with the tenements, hereditamenfs and appurte-
nances fherelo belo?ufing, and the rents, issues and profits thereof, unto the mortgagee, in fee simple.
lflf{1L the mortgagor covenants with the mortgagee Ihal fl?e mortgagor is indefeasibly seized of said
lan•1 i?? fee simple: that the mortgagor has good right and lawful authority fo convey said land as of
ore-
1 said: Ihaf the mortgagor will malre such further assurances to perfect the fee simple fills to said Iand in the
1 mortgagee as may reasonably be required; that the mortgagor hereby fully warrants the title fo said land
ar?d will defend the same against the lawful claims of all persons whomsoever; and that said land is free
i and clear of all encumbrances except real property ad valorgn taxes for the yec3r
1979.
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~rouided always, that ij saicl mortgagor shall pay unto said mortgagee the certain promis-
sory note hereinafter substantially copied or identified, to-wit:
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• PROMISSORY IvOI`E
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$x,000 00 Fort Pierce, Florida, pctc~b _r ~1 s 19~g
For value received, I, we or either of us, promise to
pay, without defalcation, to the order of FLORIDA BANK AT FORT PIERCE
SO1 Orange Avenue, Fort Pierce, Florida 33450, the sum of $x,000.00 ~
with interest from date at the rate of 11.25 per annum, in 300
monthly installments. as follows: $199.65 on the 1st day of
March 19~, and a like sum on~the corresponding day of each
4 .,,.,nth r_hereafter until the whole be fully paid.
j Each installment first shall be applied in payment of the
interest and then on the unpaid balance of the principal sum. If de-
fault is made in the payment of any installment when due, and such
default continues 30 days, then at the option of the holder, and with-
out any other notice, all the remaining installments shall be due and
payable at once. Privilege is given to prepay this note in whole or
l in part at any time without penalty. Neither forebearance, nor
acceptance by the holder thereof after any default in payments hereon,
shall be deemed extension. A late payment charge of $ 9.99 shall
be added to each installment remaining unpaid 7 days after its due
date, and a like sum shall be added to each such installment remaining
unpaid 7 days after each succeeding payment date.
Each maker, surety and endorser hereof, jointly and sever-
ally, 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, and hereby severally waives
all benefit of homestead and exemption under the constitution and laws
of each State of the United States, as against this obligation or any
extension or renewal hereof.
Witness the hand and seal of each ,party. ,
Documentary stamps and Intangible Tax Receipt has been paid
with the proper stamps and receipt affixed to the Mortgage secured hereby.
Interest shall be due on or before March 1, 1980, pursuant to a construction
~ loan agreenr-nt under even date herewith.
• l rc~~ .S~ I?'~i•~fGr SEAL)
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