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FOR VALUE R::CEIVEO, the undersigned, Ilointly and severally, if more than one) promises to pay to
WALLACE H. BABCOCK and MAHALA C. BABCOCK his wife
6907 Princess Road, Ridunand, VirginiaL3328
or order. in the manner hereinaher specified, the principal sum of
Three Thousand and No/100 IS 3,000.001
With interest from date at the rate of ~ 5 0000 Per cent, per annum on the balance from time to time remaining unpaid. Ths said principal
and interest shall be payable in lawful money of tM United States of America at BbOM1~ 8ddres8
a~ at such place u may hereafter be designated by written notice from the holder to the maker hereof, on the date and in the msnner following:
Principal and interest is payable in equal ittatallmenta as follotaa: Beginning .
on May 8, 1980, the stm of ;83.50, and the name amount on the acme day of each
month, in each year thereafter, until the entire
principal stain of $3000.00 together With interest, as herein provided, has~been paid
in full. .
All payments are to be applied first to interest at the rate specified herein upon the
principal stain of $3000.00, or so much thereof, as may from time to time remain unpaid
and the balance of each payment shall be applied to principal.
This note is prepayable in tahole or in part at any tim bout penalty.
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The tax required by Section 201.08 of the Florida Statutes _ r stamps
have been affixed to the mortgage which secures the oblig `dented by Note. The
makers of this .note herein reserve the rigktt of prepay1ailtsrtt in who or in ~ 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 by this reference made a part hereof.
If default be made in the payment of any of the wins or interest mentioned herein or in said mortgage, or in the performance
o'. any of the agreements contained herein or in said mortgage, then the entire principal sum and 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 win and accrued interest shall
both bear interest from wch time until paid at the highest rate allowable under the laws of the State of Florida Failure
to exercise this option shall not constitute a waiver of the right to exercise the same in the event of any subsequent 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 suit be brought or not, if, after maturity of this note
or default hereunder, or under said mortgage, counsel shall be employed to collect this note or to protect the security of said mortgage.
Wherever used here in the terms 'holder', '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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MARY .WARMS
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;
E 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 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, 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 to pay ~vh~n 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 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.
c IF any sum of money herein referred to be not promptly paid within thirty days next. after
the same becomes due, or if each and every the agreementn5, 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 not«~ithstanding. Failure by the mortgagee to exer-
cise any of the rights or options herein provided shall not constitute a waiver ~f any rights or op-
bons under said note or this mortgage accrued or thereafter accruing.
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