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HomeMy WebLinkAbout2596 ~o ~laue and to ~iotd the same. loyelher with IhP lenemenfs, hPredilumenls and appu?fe naru•PSj1~{rMPr~PIo belonging, anr{ IbP rnnls, issues and prolils IhPrPO(, unto IhP mortgayPP, in (PP simple. 1LIN~ IhP mortgagor for•Pnants u•ilh the mort{fageP Thal the mortgagor is inlPfPasibly sPi:P?! of said land in JPe simple: f{rat fhe mortgagor has good righ! and lawful authority to fonney Bair! tun! as afore- said; Ihal IhP mortgagor will make such further assuranfes to perfect the fee simple title to said lane! irr the mortgagee as may ?easorrably 6e required: that the mortgagor hereby fully warrants the title to said land and rr•ill dPfe?rd the same against the lawful claims of all persons u~homsoer•er; and drat said land is free are{ flPar of all PnfrfmbranCPJ except that certain first mortgage as recorded in O.R. Book 292 at page $20$, public records of St. Lucie County, Florida. Provided Always, that if said mortgagor shall pay unto said mortgagee the certain primissory note hereinafter substantially copied or identified to wit: R 200.00 7~5 Fort Pierce, Florida Npat~lb~-2,1.r-19 for value received, 1, we, a either of us, promise to pay w'~thout defalcation to the order of Harris Conatrt~t~on Cor~orti~n • ~ the offio3 of the payee herein in Fort Pierce, on a or at s sae as the payee herein shall designate in writing, the sum of ~~,,~00.00 with interest from date at the rate of__3,$~D...._%per annum, payable in montfily installments as follows, to-wit: $$.28 on ~1e 10th day of January 19_x_ and a like sum on the aorres~ond~ng day of each tike succeeding month thereefter until paid in full Nottvithetanding the beloK stated late penalty as a percent of arrears the late penalty herein applicable Kill be a flat cum of ~1pp.00 fo each and every month the eoeount is in arrears: Also not Kithstan~ ing the below stated right of prepayment this loan can not be pre- paid until on or after November 10, 1980. In the event 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/a past due, will be added to and oolleded 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 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 purpose 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 bal- ance 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 shalt be due and payable at once. Privilege is 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 ariy 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. /e,.7.~~~j~.r ~'g~- Q (SEAL) - !S~ Debra K. Teets (SEAL) (SEAI) . (SEAL) I I~ ~ ,,a At~r~ t~? !