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HomeMy WebLinkAbout1724 I.eCAT~oN GATE i - FOR VALUE RECEIVED, the undersigned, IJoindy and severally, if man than yne) promise; to pay to OII~AL~ L. SHRLTON and LINDA M. SHBLTON, his wife; ; r ~ ~ ~„•y ar orde~ n ~ maw h~inahir s~cifSiedA~ pr~ip0alg~m ~ his wife B}even ~ltouaand 63ghL Hundred and No/100 1= - 11,800.00 ~ With nbnst em dab at tM tab of12 0000 per cant, per annum on the balance from time to time remaining unpaid. Thy said principal and interest shell be payable in lawful money of taw United States of America at Ft. Pierce, Florida or at such play as may henafgr be desrgnabd by written notice ho+n tM holder to tM maker hereof, on tht dsq and in the manrser fdlowing: Principal and interest is payable in equal installsents as follows:-Beginning on February 25, 1990, the sum of >j1b9.39 and_the eases aaaunt_on the ease day. of e$eh + south, in each-year thereafter, until the entire - principal sus of =11800.00 together with interest,- as herein provided, has been paid 3a ?U11. All pay>dents are to be applied first to interest at the rate apeeitied herein upon the principal sum of ;11800.00, or ao much thereof, as say fros.tise to tisse resain wlpaid~ and the Dalanas of each paysent 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 real estate, of even date herewith, made by 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 terms of said mortgage are b1l this reference made a part hereof. - Ifdefault be made in the payment of any of the wms 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 principal wm aura accrued interest shall at the option of the holder hereof become at once due and collectible without notice; time being of the essence; and said principal sum and socnied inbrest shell i both bear interest from such time until paid at the highest rsb allowable under the laws of the State of Florida Failure i to exercise this option shall not corutitute a waiver of the right to exercise the same in the event of any wbsequent default. _ Each person liable hereon whether maker or endorser. hereby waives presentment, protest, notice, notice of protest and notice of dishonor and agrees to pay all costs, including a reasonable attorney's fee, whether wit be brought or not, if, afoer maturity of this note or default hereunder, or under said mortgage. oauisel shall be employed M collect this note or to protect the security of said mo?tgsge. Wherever used hero in the lama 'holder', 'maker' and 'pa:~ee' shall be construed in the sing~~lsr or plural es the context may require or sdmiL -MAKER'S ADDRESS - , J~ Q' ~ _a _ - (~WIIaBUR A. ~R1CI1 .t~~ - ~ w ~ - ~ M • Nlt Rw^C- a t a1i[Yp 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 pei°nsit, commit or suffer no waste, impairment or deterioration of said land or the i.nproverrents thereon at any time; to keep the buildings now or hereafter ou said land fully insured in a sum of not less than its full insurable value, but in no event less than the amount secured by this mortgage, in a 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, chargess ar.,l 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 tlse agreements, stipulations, conditions and covenants of said note and this mortgage, or either; in the event the mortgagor fails to pay wh~n_ due any taz, assessment, insurance premiu;n or other sum of money payable by virtue of said note and this mortgage, or either, the mortgagee may pay the same, K ithout r.•aiving or affecting the 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, or 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 exer- cise any of the rights or options_herein provided shall not constitute a waiver of any rights or op- tions under said note or this mortgage accrued or thereafter accruing.