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~o ~laue and to Mold the same, f«~elher with the lenemenfs, he?edifamenls and appurle
names Iherefo belonging, and the rnnls, issues and profits thereof, unto the mortgagee, in Jee simple.
end the mwlgagor covenants roilh the mortgagee Ihal the mortgagor is indNJeasibly saized of said
land in Jee simple; Ihaf the mortgagor has good right and lau~(ul authority fo convey said land as aJore-
snid: that the mortgagor will malre such Ju?fher assurances to perfect the fee simple title to said land in the
morhagee as may reasonably be required; fha! the mortgagor hereby (ull~ warrants the title to said land
and will defend the same against the Idwful claims of all persons whomspever: and that said land is free
and clear of all encumbrances except the presently existing first mortgage
to First Federal S&L Assoc. of Ft. Pierce in the amount of $24,000. 0
PROVIDED ALWAYS, that if the said MORTGAGORS herein shall pay unto
the said MORTGAGEE herein the certain promissory
note hereinafter substantially copied or~
identified, to-wit:
:5,307..66 ~ ~ 751
Fort Pierce, Florida April 14, 19 80.
For value received, 1, we, a either of us, promise to pay without defalcation to the order of
Harris Construction Corporation , st the office of the payee
herein in Fort Pierce Florida or at such other place as the payee herein shall designate. in writing, the
wm of ~ 5 _ 307. $6 ~ with interest from date at the tab of 10.0 9G ~ annum, payable
in monthly installments as follow:, to wit:
346.00 - 10th May 80 ;50.00
~ on the. -day of 19 and Y~YYJi+iK
on the correspondi d of each like suooeedi month thereafter until the 10th
day of June,~1.9~5 at trhich date~he then unpaid principal
balance due hereunder and any accrued interest thereon will
some due and payable in Pull.
~ In the event Tiny amounts currently due and/or past due under the terms of this nob are not paid -
by the 25th day of the month, a late penalty of 5.0% of the combined amounts currently due and/or
~ past due; will be added. to and collected with whabver amounts are due for the month in question. If
currently due and/or past due payments or parts thereof under the terms of this note remain unpaid
at the end of any month, then said unpaid amount will be carried forward and added to the amounts
coming due under the terms of this note for subsequent months for the purpose of calwlating subsequent
late penalties. Amounts due under the terms of this rate. are understood to be but not limited to.
(1) Regularly amortized interest and principal payments.
(2) City and/or county taxes when paid by the payee herein.
(3) Insurance premiums when paid by the payee herein. '
(4) Senior mortgage payments when paid by the payee herein.
- (S) Street, sewer and water liens when paid by the payee herein.
Each installment first shall be applied in the payment of the interest and then on the unpaid bal-
ance of the principal sum. If default is made in the payment of any installment when .due,- then at the
optan of the holder, and without any other notice, all the remaining installments shall be due and payable at
once. Privilege is given to pay two or more installments at any installment maturity date, but Chia shall
not extend the time of maturity of any subsequent installment. Neither forbearance, nor acceptance by
the holder hereof after any default in any payment hereon, shall be deemed extension.
Each maker, surety and endorsar hereof, jointly and severally, waives demand, presentment,
protest and notice of protest for nonpayment, and further agrees to any extension of time of .payment,
either before or after maturity, without notice to any of us; and to pay all costs of collection, induding a
reasonable attorney's fee in the event of any default hereunder.
WITNESS THE HANDS AND SEAL CAF EACH PARTY. /s/ Lewis Rice II
/s/ Luvenia Rice
(SEAW
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