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HomeMy WebLinkAbout0738 i I ~ruuidrd ~ltutty~, that if said J~Iortgagor shall pay unto the said Jlfortga¢ee i the certain promissory note, oj' tv/rich the follozririg in words and jigrcres is a true copy, to suit: ' :t ~ PROMISSORY NOTE 5,000.00 November 79 Stuart. Flalda - - - -K.-.19-_ _ - FORVAWERECEIVEDfheunderslgntdpramisestopaytotheorderof _ __CQNRAD_F.-STOCK$____-_ the p?inclpalwmot_FIVE_.THOUSAND_--.---.----------------- -------_Dotlars together with interest thereon at the rate of per cent per annum Iron the date hereon until maturity, both principal and Interest being payable in lawful money of the United States, such principal wm and Interest payable in Installments as follows: v ~ Payable in installments of $50.00 per week beginning Apr , ~cl~•d 1~~ and continuing until paid in full. This indebtedness may be prepaid in whole or in part at any time without penalty or premium. Such Imtellment paymenh shall be apptled first fo the interest accruing under tl+e terms of this note and then to a reduction of the pNncipal Indebtedness. If default be made In the payment of any Installment under this note. and if such default is not made good within~Q-days, then th4 entire principal sum and accrued Interest f~ shall atoncebecomedueandpayablewithoutnoticeattheoptionoftheholderlslotthisnote.Faiiuretoexercisethisoptionshallrgtconstituteawalveroftherighttoex- I erclse the same at a later time for the same default or any subsequent default. 1111, The makers and endorsers of this note further agree to waive demand. notice of non payment and pro!est, and in the event suit shall be brought for the collection hereof, or the same has to be cotlecfed upon demand of an attorney at law, to pay all cost of collection including reasonable attorneys" tees for making such collection. All payments hereunder shall bear Interest at the rateof 1 n per cent per annum from maturity until paid. PayaDleat - - - - F~ (seal) - - Jurgen Koss; ri - - - - - - - _ - - (seal) ~ - or such other place as shall be designated by tt?e holder of this note 1n wrN+ng - _ _ _ _ _ _ (seal} and shall perform, comply zc•ith and abide by e~teh and et;ery the stipulations, agreements, conditions and covenants of said promissory note and of this deed, then this deed and the estate hereby created shall cease and be null and void. .t~tt~ the said .Aortgagor hereby covenants and agrees: .1. To pay all and singular the principal and interest and other sums of money payable hrl virtue of said pmmissorJ note and this deed, or either, pmmptlJ un~ the days respectively th.e same severally come dice. I ~ Q. To pay all and singular the taxes, assessments, levies, liabilities, nhligations and encumbrances of every nature on said described property ea-•h and every, and if the same be not promptly paid the said .Mortgagee may at any time pay the same I without waiving or ajj'eeting the option to foreclose or any right hereunder, and every ~ payment so made shall bear interest from tt~e date thereof at the rate of a per cent. per annum. J. 7ro pay all and singular the costs, charges and expenses, including lawyer's ~ ~ fees, reasonably incurred or paid at any time by said .Mortgagee becazzse of the failure a on the part of the said Mortgagor to perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note ~ 5 and this deed, or either, and every such payment shall bear interest from date at the + rate of 10 per cent. per annum. ~ y. To keep the building norv or hereajt.er on said land insured in a sum not ! less than Five Thousand I 1 _________________________________--Dollars, in a company or contpan.i.es to be approved. by said .1~lortgagee, and the policy or policies held by and payable to said .Mortgagee, and in the event any sum of monoy becomes payable under such policy or policies, the Mortgagee shall have tlaz option to receive and apply the same on account of the indebtedness hereby seercred or to permit the Mortgagor to receive and use it, or ~ any part thereat; for other purposes, wi`,hout thereby waiving' or inzpairin.g any equity lien or right under or by virtue of -this mortgage, and may place and pay for such insurance or any part thereof, without waiving or ajg'ecting the option to foreclose or any right hereunder, and each and every such payment shall bear interest from date at tfie rote of per cent. per annum.