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MORTtiAOE N01t't -
LOCATION
= 1T,000.CO. Ft. Pierce, Florida ~ ~ ~ ~ nuarv ?5, 19E~
FOR VALUE RECEIVED, tM undersigned, (jointly and severally, if more than one) promises to psy to
DONALD J: REELER and MRLYS A. REELER, hi9 wife
P.O..Box 69 Gleaviile, North Carolina 28736
or order, in tfte manrssr hsninafesr spscif..sd, tM principal sum of
Seventeen Thousand and No/100 17,000.00)
With interest from date at the rats of 10.000Oper cant per s~rwm on the balance frgn time.to time remaining unpaid. The said principal
and inters:t shall be paysble in lawful money of the United Ststes +sf Amsrsca at Ft. Pierce, Florida
or at such plsoe ss may hsnafar be dssignassd by written notid frown the holder to the maker hereof, on tM data and in tM manner foilowirq:
This Note is payable in equal Installments as follows: BeGinning -
on February 2~th, 1980-the sum of =224.66, and a like sus payable on the salve day in each
atonth, 1n each year thereafter, until the entire - ' ~ ' ~ _
principal sum of #17000.00 together with interest, as herein provided, has Deen paid
in full.
In addition to the -payments pra~•ided for"shove, the ertire principal su~a renaining un-
paid, together-with accrued interest retnainfng unpaid, shall be due and payahle on
..January~2~a.~98~..which final payment shall be in the amount of =.-;~.yg~;SEq..........
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tAll payments are to be applied first to interest at the rate specified herein upon bhs
principal sum of #17000.00,. or so much thereof, as tray from tithe to time remain unpaid
and the balance of each payment shall be applied to principal.
This note is prepayable in whole or in part at any time without penalty.
This note with interest is secured by a mortgage on reel estate,~of even date herawith,.msdeby the maker hereof in favor of the
said payee, and shall be construed and enforced according to the laws of the State of Florida -The teens of said mort~sge
are by this reference made a pert hereof.
tf defsult be made in the psyment of any of the sums or interest mentioned herein or in said mortgage, or in the performance
of any of the agreements contained herein or in said mortgage, then the entire principaF sum and socrued interest shall at the option of the
holder hereof become at once due end colkctibk without notice, time being of the euence; and said principal sum and accrued interest shall
both bear interest from such time until paid at the highest rate allowable under the laws of the State of Florida Fallon
to exercise this optwn shall not eatstitute s wsiver of tM right to exercise the same in the event of any subsequent,default.
Each person liable hereon whether maker a endorser, hereby waives presentment, protest, notice, notice of protest and notioi
of dishonor end sgrees to pay all costs, including s reasonable attorney's fee, whether suit be brought or not, if, after maturity of this note
or default hereunder,. or under ssid mortgage, eow~set shall be emptayed to collect this rate or to protect the security of said mortgage..
Wherever used here in the terms 'bolder', 'maker' and 'payee' shall be construed in the singular or plural as the context may
require or admit. -
MAKER'S ADDRESS -
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AND the mortgagor hereby further covenants and agrees to pay promptly when due the prin-
cipal and interest and other sums of money provided for in said note and this mortgage, or either;
to pay all and singular the taxes, assessments, levies, liabilities, -obligations and encumbrances of
every nature on said property; to permit,- commit or suffer no waste, impairment or deterioration
of said land or the improvements thereon at any time ; to keep the buildings now or hereafter on
said land- fully insured in a sum of not less than its foil insurable value, but in no event.less than the
amount secured by this mortgage, in s company or companies acceptable to the mortgagee, the pol-
icy or policies to be held by, and payable to, said mortgagee, and in the event any sum of money
becomes payable by virtue of such insurance the mortgagee shall have the right to receive and ap-
ply the same to the indebtedness hereby secured, accounting to the mortgagor for any surplus; to
pay all costs,. charges, and expenses, including lawyer's fees and title searches, reasonably incurred
or paid by the mortgagee because of the failure of the mortgagor to promptly and fully comply
with the agreements, stipulations, conditions and covenants of said note and this mortgage, or
either; in the event the mortgagor fails t~ pay whin due any tax. assessment, insurance premium or -
other sum. of money payable by virtue of said note and this mortgage, or either, the mortgagee may
pay the same, without waiving or affecting tfie option to foreclose or any-other right hereunder, and
all such payments shall bear interest from date thereof at the highest lawful rate then allowed by
the laws of the State of Florida. -
thirty
IF any sum of money herein referred to be not promptly paid within days next after
the same becomes due, or if each and every the agreements, stipulations, conditions and covenants
of said note and this mortgage, or either, are not fully performed, complied with and abided by,
then the entire sum mentioned in said note, and this mortgage, cr the entire balance unpaid there-
on, shall forthwith or thereafter, at the option of the mortgagee. become and be due and payable.
anything in said note or herein to the contrary -notwithstanding. Failure by the mortgagee to exec
cise any of the rights or options herein provided Q hall not constitute a waiver of any rights or op-
tions under said note or this mortgage accrued or thereafter accruing. -
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60~~~ P~CE~~~ -