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~fi( i{11{ii W the name, together with the tenements, heredilamenls and appurte-
nances thereto. belonging, and the rents, issues and projifs fhereoj, unto the mortgagee. in fee simple.
the mortgaeor.eavenanta with the mortgagee that the mortgagor is indefeasibly seised of said
land in jee simple; t/ia! iht, good right and lawful authority to rnnl?sy said land as afore-
said; that the mortgagor will made such jureher a:surancei to perfect tha fee simple title fo said land in the
mortgagee as may reasonably 6e required: that the mortgagor hereby fully warranb the title to said land
and will d%nd the same agains! the lawful claims of all peawu whomsoever; and chat said land is fee
and clear of all encumbrances e~wr~3t that vertain First Mortgage 3n'~f~iR'~if First
FeBeral Savings and Doan Association of Food Pie~oe reeox~ied at Qt Book 299
Page St. Iiuci~e ~ity~ Florida, Public Peoo~+ds; and that certain S~:o
d
M in fawn of Florida National Lbiaexwrit~ers, Inc. , a Florida voxporation,
reooxrled at t~Et Book 288, Page 2095, St. Iiuci,e Oouattyr Flarida, Public Aeooxds;
and ta~oes aeccuuirig subsec;uent bo Deotanber 31, 1979.
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j ~ ~~s, that ij :aid mortgagor shall pay unto said mortgagee the certain promis-
sory note hereinafter substantially copied or identified, to-wit:
4~
~ ~ SfI,600.00 PRA!!t~SUPY ?TOTE Deoenber 1l79
i Fort Pierce, Florida
FOR VALUE RECEIVED, the undersigned promises to
pay to the order of PLAZA DEVELOPMENT ASSOCIATES, a Florida ~
General Partnership, the sus of Forty-one Thousand Six
Hundred and no/100 (Sf1,600.00I Dollars at c/o Robert Nelson,
General Partnet, 2721 South U. 5. 1. Suite 8, Fort Pierce,
i i~ Florida 33f50, or such other place as the holder hereof slay
j designate in writing, cogether with interest from date at
the rate of eleven and one-half (ll-1/21) percent per annum
on the unpaid balance until suturity. The said principal
!4 and interest shall be due and payable as follows:
~ Interest only payable quarterly conmencinq on
j March [i/ 1980, and continuing quarterly thereafter
f on eac s-uc-cessive June JJ - Septesber /v ;
~ December and Mar-c until this -Note
matures. ~EFii~s
Note shall ssaiure and cone due and
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~ the entire principal balance, together.vith accrued
interest, shall be due and payable upon the earlier
of the following: (a) six (6) years frog the date
of this Note; or (b) payment in full of the existing
i First Mortgage in favor of Pirat Federal Savings
~ and Loan Association of Fort Pierce, recorded at
OR Book 299, Page 2183. SL. Lucie County, Florida,
~f PNblic Records. lIt is the intention of the
' Makers of this Note chat this Note shall become
4i due upon the earlier of six (6) years passage of
time or the refinancing of the First Mortgage
a .cited above). (VjJ
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This Note nay be prepaid in~l r in part at any ,
tine and from tine to tine without penalty.
IF DEFAULT be Wade for shirty i30) days in the
payment of asy installment of principal or interest or any
x part thereof, the whole svm then remaining unpaid, with
~j interest, shall, at lwlder's option, becrome due and payable
I with notice. Failure to exercise such option shall not
~ oDnstitnte a vaiwr of the right to exorcise the same in the
went of suboequent default. After astority, both principal
i and accrued interest shall bear interest at fonrteen and
ono-half (11-1/2t) percent per snow until paid. IE this
Note is not paid at maturity and the same is placed with an
attorney for collection, the makers hereof agree to pay all
Doris of collection, including all count costs and reasonable
attorney's fees, including court :ts and reasonable attorney's
) fees neon appeal. ,
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