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HomeMy WebLinkAbout1478 - ? Y 5--42, 000-+-UQ------ STUART, Florida, ..---------•--A!?T'I4~----1~------- 19_s;Q- . FOR VALUE RECEIVED, the undersigned, jointly and severally, PROMISE TO PAY to the order of_.._._._.-. Wi 11 ; am ,J,..BnbBrt~san.~nd ary K..~l~ertsnn,--.his...i~cife--_------------------------_~_.-- /~.._~R~a ~u,~aad._a>ad I3o.L].S2.Q=.-_._ ----.IaotwRS- at ....C.•.~,c,.1~ ..11ari~eee~~1 . ~ ----•_or such other place as the holder ti• hereof may designate in writing, together with interest from date at the rate of _.~Q.__.._ per centum per annum on the unpaid balance until maturity. The said principal and interest shall be due and payable ~s follows: $381.66 per month for 41 months, with a final 42 monthly balloon payment of $40,425.00 plus accrued interest. The first payment being due and payable one month from April ~ ~ -1980 and continuing each month as provided herein. ` Payment shall first be credited to interest and the remainder to principal. This mortgage may, be prepaid without penalty, in whole~or in part, at any time. If defavh M rnada to --_-~..r2. days in tM wyT«+t of any insfallrnanf of princ;pat or 'interest er arry part thereof, tM rrfroM s+Mn then ran+rirrng unpaid w;tA ;merest slsall et holder's eprion toacane dw and wyabM w;lhout notice. h;ture to e>sac;se such opt;on shall not ccoop~yytt~~tute a waiver of fire right - ro eaerCiN firs sang in tM event of wbsev:+eru de4utt. Afar rnatwity both princ;pal and accrued ;merest sMll liar ;ntarett at _.1U___ par gr?hrmr per annun+ unr.l paid. tM snekars and sndonen of this note turtMr waive demand, nolico of nen-paymwN and praast. If th;s nos n not pa;d at nyo,r;ry and the wma is 1 p1acW w;th an Ntornay tw eoltaet;or?, tM rnakart and andorsars Mraof aprao fo oay cep cosb of wlhct;on, including all court cosh and raawrabla attorney teas. If ony poyrnent if poid moo then 10 dogs offer dw then, in odd;tion to so;d poymanf, ttra rocker sholl goy o LJ1TE CHARGE of Sqq,,,~ o/ tfK poymant due • or SS.00, vfi;ctstvp is lass. This pvovisron stroll not bt construed fo erodity the dtfoult prov;s+orrs harem or tht interest dot offer deioult. FIC~O INC= _ -(SEAL) BY: ~ ~ 5~~~ rd Secrets, ._~..._---(SEAL) . ~,x,, and shall duly, promptly and fully per[orm, discharge, execute, effect, complete, comply with and abide by each and every the stipulations. agreements, conditions and covenants of said promissory note and of this mortgage, then this mortgage and the estate hereby created shall cease and be null and votd. IL is understood that each of the words, "note." "mortgagor" end "mortgagee'' respectively and the proa- ouns referring thereto, whether in the singular or plural anywhere in this mortgage, shall be singular it one only and shall be plural jointly -and severally, if more than one, and shall be masculine, feminine and/or neuter, wher- ever the context so implies or admits. - Md said Mortgagor for himself and his heirs, legal representatives, successors and assigns, hereby coven- ants ana agrees to and with acid 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 b~ virtue of said promissory note, and this mortgage. each and every, promptly on the days respectively the same severally became due. Z. To pay all and singular the truces, assessments. levies, liabilities, obligations and Incumbrattces of every nature and kind now on said described properly, 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 and/or the indebted- ness secured hereby, each and every, when due and payable accoMing to law. before they become delinquent. and before any interest attaches or any penalty is incurred; and in so far as any thereof ie 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 en~forsed or certifiedl shall be placed in the hands of said - Mortgagee within ten days next after payment; and in the event that any thereof is not so paid; satisfied and discharged, said Mortgagee may at any time pay the same or any part thereof 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 such payment shall be immediately due and payable and shall bear inlerest from the date thereof until paid - at the rate of ten per centum per annum and together with such interest shall be secured by the lien of this mortgage. 3. To place and continuously keep on the buUdinga now or hereafter actuate on said land fire and windstorm insurance in the usual standard policy farm, in a sum not less than .....-..IllaXlmum in such corn- . parry or comp^:tics as may be approved by a3id btorl;;agr•e: ant all such insurance policies on any of said build- ings, any interest therein or part thereof, in the ai;gregate sum afotsaid or in excess hereof, shall contain the usual standard mortgagee clause making the l:res urdr•r said policies, each and every, payable to said Mortga- gee as his interest may appear, and each at:d every su~•h ptrlicy shall be promptly delivered to and held by said Mortgagee; and, not less th~tt ten days in adrance of the expiration of each policy, to deliver to said Mortgagee a renewal thereof, together with a receipt fr?r the premium rrt such ronewel: and there shall be no such insur- ance placed on any of said buildings, any interest therein or part thereof, unless in the form and with the loss payable as aforesaid; and in the event any sum of money becomes payable under s»ch policy or policies said Mortgagee shall have the optirrn to receive and apply the same nn account of the indebtedness secured hereby or to permit said Mortgagor to receive and uQe 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 reaso:t fail to keep the sari premises so inqurr•d, or fail to deliver promptly any of said policies of insurance to said ]+tortgagee, or fail promptly to pay tally any premium therefor, or in any respect .tail to per- form, discharge, execute, effect, complete. comply «~th and abide by this covenant, or any part hereof, said Mortg- agee may place and pay for such insurance or any part thereof 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 such payment ahaU be immediately due and payable and shall bear interest from the date thereof unfit paid at the rate of ten per centum per annum and together with such interest shall be secured Dy the lien of this mortgage. ~ To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. - ti. To pay s,U and singular the costs, charges and expenses` including reasonable lawyer's fees and coat of ` .abstracts of title, incurred or paid at any time by said Mortgagee because and/or In the event of the failure ? on the part of the said Mortgagor to duly, promptly and tally perform, discharge, execute, effect, complete, l comply wih and abide by each and every the stipulations, agreements, conditions and covenants of acid promis- sory note, and this mortgage, any or etcher, and said costs, charges and expenses, each and every, ahail be lrrt- a medtately 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 payment shall bear interest Irom the date hereof until paid at the rate of ten per centum per annum' and all said costs, charges and a:peaces ao incurred or paid, together with sucb in- terest, shall be secured by hs ilea of this mortgage. r pl:.;x329 PdGE~47?