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Ii the same, together with the fenemanU, heredifarnenfa and appu?Ir
~o ~iaue and to ~otd
nancrs Iltereto helunging, and the rnnfs, issues and profits thereof, unto the mortgagee, in fee simple.
end the mortgagor covenants with the mortgagee that the mortgagor is tndefeast6ly seized of said {
land in fee simple: that the mortgagor has good right and lawful authority to convey said land as of
ore-
!i said: that the mortgagor will make such further assurances to perfect the fee simple title to said land in the
1i mortgagee as -may reasonably be required: that the mortgagor hereby /ully warrants the title to said fond
! anti will defend the same against the lawful claims of all persons whomsoever: and that said land is free _
and clear of all ertctrm6rances except taxes accruing suvsequent to December 31 , 1978.
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COUI ways, that if said mortgagor shall pay unto said tnortgngee the certain promis-
! sory note hereinafter suhstarttially copied or identified, to-wit:
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MORTGAGE NOTE
s 31,000.00 Ft. Pierce , Fbrida
November .1979
FOR VALUE RECEIVED, the undersigned, (jointly and acverslly, if more than one) promius to pay to
NEWTON D. SHELLEY and JUDY T. SHELLEY, his wife
or order, in the manner heniasftu specified,
P~+pv s~+ ~ Thirty-One Thousand and 00/100---------------------------------~/loo DOLLARS
(s31 ,000.00 )with interest from date at tits ntc o[ 12.•50 per ant. per annum on the balance (root time w time remaining unpaid.
The said principal std inteerst sbali be payable in lawful uwaey of the United States of America st
or at moth plan u may bercafter be designated by written ratite from the bolder to the maker hereof, on
the date sad in the manner (oUowing:
- Face Amount of this Note and Mortgage payable with interest
~ thereon, at the rate of Twelve and One-half per cent (12.5%)
j per anntult, in Fifty-nine Monthly installments of X352.21 and
One Balloon Payment of E 28,575.29. The first Payment is
due Thirty days from the date hereof.
The Maker may prepay the principal amount outstanding in ,
part or whole, at any time. The Note holder may require
the maker to pay a prepayment penalty in an amount equal
to 7% of the Unpaid Balance.
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" This note with interest is secured ~y a mortgage oa rest estate, oI even dart herewith, made by flu maker hereof in favor of the said
payee, and shall be construed std enforced steordiag to the lawn of the State of Florids. The tesats of aatd aaor
tgage are by this rekrencc
made a part heteo[. ;
If default be made in the ymeat of any of the sums or iatereat mentioned herein or in said aartgage, or in the performance of
any of the nq tontsined herein or is said mottSaae, then the entire principal sera sad aarued intereu shall at the of the
holder hereo[ become at once dus and ooUeettbb without antis, time bsiag of the essence: std said principal sum sad acctt~ied
intense i
t
shall both bear interest from such time until paid at the highest rate slbwabls under the bws of the State of Fbtida. Failuro to esescise
thu option shall rat oonseiwte a waiver of the right to ertescise the same is the areot of soy subsogttcat default.
Each person liable hereon whether rocker or endorser, hereby waives presentment, protest, notice ratite of protest sad notice of dis•
honor and aseea to pa~? all tau, including a aaanabk attorney's (ee, whether suit be brought a not, ir, suer maturity of this note a default
hereunder, ar ands sad mortgage. eouasel shall be employed to oolbct Ibis emote a to protect the security of said rrtottgase.
Whenever used herein tba terms "hoWet", "maker" and "payee" shall be cowtrued is the siogulsr a plural as the contest ensy ~
requite of admit.
idalte~s Addteea N"~.~nNTA .......................(SEAL) 1
...........r .(SEAL) '
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