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Home My WebLink About1002 - ~~?L~iai~i~i~i~i1?L~i~i+Sr~i~rR/4~i~rgllr4*i^Ir J/a~i~i~ipli~J~Sraiai~iaias~iRi~i~14~i~iai~i~iwi~i~iaiaia~ai~ilifl~ 16, 000-,-00 April ~ 1980.. FOR VALUE RECEIVED, rho undarsi~od, ~oinN am t~wrafltl, PROMISE TO fIAY to the order of • - W. C. EON~D60N and HAL M. EDMONDSON - - ----••----•--~.~--_._------~---Q. - - SIXTEEN THOUSAND AND no 1 0----------------------.---------.------------~OOUARS, ~ at 537 V~,rginis- Circle, Fol}rest City, ArkatlasO.R-.7233.5 or wch other place as the holder ~ hereof mar' desiRnab itr' writing together with interost from date ~hOWn. albove - at the rate of 13$ per centum par annum on the unpaid balance until maturity. The said principal and interest shall be dw and-parable as follows: ~ R - $364.05 a month, the first payment being due one month from the date shown above, and continue for each month thereafter until paid in full. This sum of $364.05 paid each month shall first be credited to interest and the remainder to the Qrincipal of this obligation. THIS NOTE MAY BE PREPAID AT THE END OF 36 PAYMENTS WITHOUT PENALTY. - ~ N dahath ba casts (•r ~.5 : says iw fha prtwawl wf Mr iwataUaaawl •f priwripa) w iwb»aI •r awr pan tMn•1. Iha wl»t• aptw Ihaw nwaaiwiwe uwpair witb iw/araat abaQ at bal~•r•t• •ptiiw Me•wy dnw awJ parable w:tMttt Mtiea- railttr• N •aareia• web •pfiew ?hap ww1 eewti~hr~ • waiver •f ttt• ~ ryht tw •:•reisw the sarw iw thw a~awt wf avbsMwwt ~affavh. Ai»r ttaatwilr MIb p?nteipa) aver aeerva~ iw»raat shag ?aar iw»reat at 13 $ per c•wtwwt par awwtttw atwhl pail- iM wah•n awe awdaraara Ibis wwta /wAMr araiw dawaawd, rt•tic• d wawytarttnwl awl prNall- N Ihia MN is wet pair a1 twahrrilr awl tM aawaa is placa~ wdb aw at»rMr ter e•IMet.ew, tM twakera aver •w~•raara Mnwt aeraa N par aN eeaM •i ewllaetit?w, iwelatrtwe aU evert .oats assts raaawwabla at»rwar saes This note given and received as evidence of the indebtedness recited herein and not in payment thereof . ' .,.:f~ ~ (SEAL) ~ / Jt~lit ~ s C . $r ink AtNst: ~0 ~ M~r j J Br k (SEAL) - - (SEAL) •i~S~i~il~i~i~i~i~~~i i~i~i~i i~i~i~i ~~~~i ~~i ~~i~~~~~i~i~i~i~i~i~i i iii i~i~~~i~i~i~i~i i~ :~i~i~i~i~i'~fl~i~i~i~i~i~i~i i~i~i~i~i~i i~i~~~~~i~i~i~i~i~i i~i~i~i~i~i~i~i~i~i~i~i~i~i~i~~ and shall duly, promptly and fully perform, discharge. execute, ef[ect, complete. comply with and abide by each and every the stipulations, agreements, conditions and covenants of stud promissory note and of this mortgage, then this mortgage and the estate hereby crated shall cease and be null and word. It is understood that each of the words, "note," "mortgagoY' and "mortgagee' respectively and the- pron- ouns referring thereto. whether in the singular or plural anywhere in lhts mortgage. shall be singular i[ one only end shall be plural jointly and severally, i[ more than one, and shall De masculine, feminine and/or neuter, wher- ever the context so implies or admits. And said Mortgagor for himself and his heirs, legal repreaentativea, successors and assigns, hereby eoven- ants atw agrees to and with said Mortgagee, his legal representatives, successors and assigns: 1. To pay all and singular the principal and interest and the various and sundry soma of money payable by ~ virtue of said promissory note, and this mortgage. each and every, promptly on the days respectively the same severally become due. - 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property, and/or that hereafter may be imposed, suffered, placed, levied or assessed thereupon, and/or that hereafter may be levied or assessed upon, this mortgage find/or the indebted- ness secured hereby, each and every, when due and payable acrnrding to law, be[ore they become delinquent. and before any interest attaches or any penalty is incurred; and in so far as any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such as, for instance, the tax receipt or the satisfaction paper officially endorsed or certified? shall be placed to the hands of Bald Mortgagee within ten days next after payment; and in the event that any thereof is not so paid, satisfied and discharged, said 1?iortgagee may at any time pay the same or any part thereo[ without waiving or affecting any option, lien, equity or right under or by virttiP of this mortgage, and the fall amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate o[ ten per centurn per annum and together with such interest shall be secured by the lien of this mortgage. 3. To place and continuously keep on the buildings now or hereafter aitttate on said land fire and windstorm insurance in the u_aual standard policy form, in a sum not less than S-._---.-••- - 1n such com- pany or comp^nics as may be approved by said Nlortga~ce: and all such insurance policies on any of said build- ings, any interest therein or part thereof, in the aggregate sum s[oresaid or in excess thereof, shall contain ~ the usual standard mortgagee clause making the loss urdcr said policies, each and every, payable to said Mortga- gee as his interest may appear, and each and e~•ery siit-h policy shall be promptly delivered to and held by said i`fortgagee; and, not less than ten days in ad~•ance of the expiration of each policy, to deliver to said Mortgagee a renewal thereof, together with a receipt for the premium of vti~h renewal, .and there shall be no such insur- ance placed on any of said buildings, any interest therein or psrt thereo[, unless in the form and with the lose payable as aforesaid; and in the event any sum of money becomes payable under such policy or policies said Mortgagee shall have the option to receive and apply the same on account of the indebtedness secured hereby or ~ to permit said Mortgagor to receive and use It or any part thereof for other purposes without thereby waiving or impairing any equity, lien or right under or by virtue of this mortgage; and in the event said Mortgagor shall for any reason tail to keep the said premises so insured, or fail to deliver promptly any of said policies of insurance to said I?tortgagee, or fai! promptly to pay fully any premium therefor, or in any respect tail to per- form. discharge, execute, effect, rnmplete, comply with and abide by this covenant. or any part hereof, said Mortg- agee may place and pay for such insurance or any part tfiereot without waiving or affecting any option. lien, equity or right under or by virtue of this mortgage. and the full amount of each and every ouch payment shall be immediately due and payable and shall bear interest from the date thereof unt11 paid at the rate of ten per centum per annum and together with such interest shall be secured by the lien of this mortgage. 4. To permit. commit or suffer no waste, impairment or deterloratlon of said property or any part thereof. 6. To pay aU and singular Ne cwts, charges and expenses, including reasonable lawyer's fees and cast of abstracts of title, incurred or paid at any time by Bald Mortgagee because and/or In the event of the failure on the part of the said Mortgagor to duly, promptly and [ally perform, discharge, execute, effect. complete. comply with and abide by each and every the stipulations, agreements, conditions and covenaitta of acid promis- sory note, and thin mortgage, any or either, and said costs, charges and expenses, each and every, shell be Im- mediately due and payable, whether or not there be notice, demand, attempt to collect or salt pending, and the full amount of each and every such psyment shall bear interest from the date thereof until paid st the rate of ten per centum per annum; and all said costa, charges and expensee eo incurred or psid, together with auc6 ln- terest, shaII be secured by the Ifea of ibis mortgage. 8~3~~ P~E10~