HomeMy WebLinkAbout0369 t i
~o due end to ~totd the same, together with the tenements, hereditaments`'dnd
ji appurfe-
' nances thereto belonging, and fhc rents, issues and profits thereof, unto the mortgagee, in fee simple.
~nd the mortgagor covenants with the mortgagee that the mortgagor is indefeasibly seized of said
land in fee simple; that the mortgagr~ has good right and lawful authority to convey said land as afore-
saicl; that the mortgagor will make such further assurances to perfect the fee simple tills to said Land in the
mort{~agee as may reasonably be required; that the mortgagor hereby fully warrants the title to said Land
I~ and rril! da/end the same against the law/ul claims of all pe?sona whomsoever: and that said lnnd is free
and clear of all encumbrances
I
;i
~~~tded ~ss that if said mortgagor shall pay unto said mortgagee the certain promis-
sory note hereinafter substantially copied or identified, to-wit:
- PROMISSORY NOTE
North Pat~Agac~h ,Florida ~,T_;,~_.19 88 .
1. For value received the undersigned promises to pay to t_he -order of ROBEgT A_ StuiT~~
and WINIFRED D. SMITH, his wife _ _
the principal sum of EI HT TH
Dollars toget er wit interest rom date -at a rate o
( l~ X) per cent-per annum on all unpaid balances. Said principal shall be payable
in month y installments of TWO HUNDRED N Y
Dollars 222.18 ),per mont eg nn ng on t e ay o '
19 8 0, and on the ~5th~day of each and every .month t ereafter until t e en re sum here-
under has been fui yl paid. -
2. Said-payments .shall be applied first to interest on the unpaid balance at the rate herein
specified, and then to princi-pal. Interest for each calendar month shall be accrued on the
first day of said month and be computed on the unpaid balance of principal and interest exist-.
ing on.the last day of the preceeding month. This. note shall be considered in default .when
any payment required to be made hereunder, and any additional advances under this note or
the instrument securing same, shall not have been made within ten (10) days following its due
date and shall remain in default until said payment shall have been made. While in default
this note and any additional advances under this note or the instrument securing the same
shall bear interest at the maximum legal- rate permitted in Florida in lieu of the rate herein-
before specified. This note is secured by a second mortgage of even date.
3. This note may be prepaid at any time after one year rom the date hereof with the payment
of 3% on the then unpaid principal balance. The payment of any larger or additional sum in
advance of the payments herein required shall not relieve the maker of the payment of the
regular monthly installments herein provided.
G. If the effect of any part of the loan transaction evidenced by this note results in~ -
interest (or charges deemed to be interest) paid or to be paid to the holder, being in excess
of the permissible civil usury limits as established by the laws of Florida, then such excess
wil? be promplty refunded.
5. All persons now or hereafter becoming parties hereto jointly and severally waive dtanand,
notice of non-payment and protest, and agree that in the event of default in the payment of
any installment due hereunder for a period of ten (10) days, the whole of said indebtedness
shall thereupon at the option of the holder, become it?mediately due and payable, and if this
note becomes in default and is placed in the hands of an attorney for collection,to pay
reasonable attorney's fees and all other costs for making such collection. This note shall
be the joint and several obligation of all makers, sureties, guarantors and endorsers and -
snall be binding upon them, their heirs, personal representatives, successors and assigns.
6. Reference is made to the mortgage for rights as to acceleration of the indebtedness ~
evidenced by this note. .
/JAMES H. BOOZER/ ~ (SEAL) /GHINETTE^BOOZER/
James H. Boozer Gwnette Boozer
-
i'
3 d
I~ ~ ~