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~o ~iaue and to Hold the same, together with the tenernetft: heed{tamer?fa,p~t~r appurle-
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nnnces thereto belonging, and the rents, issues and profits fhereo/, unto Ihe-tnigee, irt-~~1iv~r{ple.
~i~ the mprtg or covenants with the mort a ee that the morf a or Is inde ewibl sei '
9 g e g j y zed of said
land in fee simple; tha~he mortgagor has good right and lawful authority to convey said land as afore-
i~ said; that the mortgagor will made such further assurances fo perfect the fee simple tttls to said land to the
mortgagee as may rewonably be required; that the mortgagor hereby fully warrnnta the title to said bnd f
ant{ will defend the same against tho lawful claims of all persoru whomsoever; and that said land is /ree
and clear o/ ail encumbrances except real property taxes accruing subsequent
to December 31, 1979.
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~rou~ded Always, that if said mortgagor shall pny unto snid mortgagee the certain prontis-
sore note hereinafter substantially copied or identified, to-wit: I
MORTGAGE NOTE ~
i
$50,000.00 December 28 1979
Fort Pierce, F orida
FOR VALUE RECEIVED, the undersigned promises to pay to the order ~
of K. C. SLOAN and JEANNE A. SLOAN, his wife, the principal sum -
of FIFTY THOUSAND AND NO/100 ($50,000.00) DOLLARS, together with
interest thereon at the rate of Twelve Per Cent (12%) per annum
from the date hereof until maturity, both principal and interest
being payable in Lawful Money of the United States, such principal -
sum and interest payable in installments as follows: _
Monthly installment of Six Hundred and 09 100--------
600.09 commencing one
wont a ter t e ate ereo an continu ng each month
thereafter until sixty (60) monthly payments have been made. -
Such installments include interest and principal based
on a fifteen (15) year amortization. The total remaining
unpaid principal and interest shall become due on the
sixty-first (61) month -after closing. ~
Principal balance ~?ay be prepaid at any time
prior to maturity without penalty.
Such installment payments shall be applied first to the interest
accruing under the terms of this note and then to a reduction of the
principal indebtedness. ~
The Makers and endorsers of this note further agree to waive
demand, notice of non-payment and protest, and in the event suit shall
be brought for the collection hereof, or the same has to be collected
upon demand of an attorney, to pay reasonable attorney's fees for making
such collection: All payments hereunder shall bear interest at the
rate of 12 per cent per annum from maturity until paid. This note is '
secured by a mortgage of even date herewith and is to be construed and
enforced according to the laws of the State of Florida; upon default
in the payment of principal and/or interest when due, the whole sum of
principal and interest remaining unpaid shall, at the option of the
holders, become immediately due and payable. Failure to exercise-
this option shall not constitute a waiver of the right to exercise
the same in the event of a subsequent d fault. Q_~
Payable at _ j/ ys S , c-~S Y* ( -Z
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- -or such other place as shall be desig-
nated by the holder of this note in _ 1'iR~ „K