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. ~o ~iaue and to ~otd IhP same. logPlher with the tenements, hereditaments and appu?IP i
nanrns fltPrefo hPlOllglfr~t, and the rents, issues and pro/ifs thereof, unto the mortgagee, in fee simple.
l( the mortgagor covertartts with the mortgagee that the mortgagor is indefeasibly seized of said
land in fee simple; that fire mortgagor has good right and lawful authority to rnnvey said land as of
ore-
said; that the mortgagor will make such further assurances to perfect the fee simple title to said land in the
tl mortgagee as may reasonably 6e required: that the mortgagor hereby fully warrants the title to said land ,
antt will defend the same against the lawful claims o/ all persons whomsoever; and that said land is free
'I and clear of all encumbrances
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~rouided ~tways, that if said mortgagor shall pay unto said mortgagee the certain promis-
~i sory note hereinafter substantially copied or identified, to-wit: -
PROMISSORY NOTE
North Palm Beach ,Florida November 21 19 79
1. For value received the undersigned promises'to pay to the order of SECURITY AivD
3
INVESTMENT CORPORATION OF THE PALM BEACHES ~
tt~e principal sum of LR T USAND SEVEN HUNDRED SEVENTY AND NO 1 ;
Dollars 4,770.0 ,together with interest rom ate at the rate of
15.63 ~ per cent per annum on all unpaid balances. IN RES Oli`Y shall be payable -
i n monthly installments of SIXTY TWO AND 13/100----------y
Dollars 62.13 per month beginning on the th da o December
19 79, and on the 15th day of each and every ,font thereafter,unti the 1.Sth day August ;
~y ~ at which time the entire balance shall become due and payable.
Z. Said payments shall be app~ied first to interest on the unpaid balance at the rate herein
~ specified, and then to principal. Interest for each calendar month shall be accrued on the
j first day of said month and be computed on the unpaid balance of principal and interest
i existing on the last day of the preceeding month. This note shall be considered in default
~ when any payment required to be made hereunder, and any additional advances under this note
or- the instrument securing same, shall not have been made within ten (10) days following
its due date..and shall remain in default until'said payment shall have been made. While in
default this note and any additional advances under this note or the instrument securing
the same shall bear interest at the maximum legal rate permitted in Florida in lieu of the
rate hereinbefore specified. This note is secured by a se and mortgage of even date.
3. This note may be prepaid at any time after * tl~## I~ll~~~#M~l~~g
~~~~#~~~~~,p~i~~gh~~~~l~~~il he payment of any larger or additional -
sum in a~vance o the payments herein required shall not relieve the maker of the payment of
the regular monthly installments herein provided. *without penalty.
4. If the effect of any part of the loan transaction evidenced by this note results in
interest (or charges deemed to be interest) paid or to be paid to the holder, being in excess -
of the permissible civil usury limits as established by the laws of Florida, then such excess
will be promptly refunded.
5. All persons now or hereafter becoming parties hereto-~ointly and severally waive demand,
notice of non-payment and protest, and agree that in the event. of default in the payment of s
any installment due hereunder for a period of ten (10) days, the whole of said indebtedness
shall thereupon at the option of the holder, become immediately due and payable, and if this
note becomes in default and is placed in the hands of an attorney for collection, to pay 3
reasonable attorney's fees and all other costs for making such collection. This note shall
he the point and several obligation of all makers,sureties, guarantors and endorsers and
shall be binding upon them, their heirs, personal representatives, successors and assigns.
6. Reference is made to the mortgage for rights as to acceleration of the
indebtedness evidenced by thi~eal) note.
(Seal)
? Kenneth E. Whisper Rose T. Whisper