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HomeMy WebLinkAbout0960 ~o ~iaue and to Mold IhP same. fu~µ•Iher with IhP lenem(alts, henv)ihlmPnls anl) uppu?fP rulru•PS lhnnPrPlo hr)unginry, and 1)IP n•?Ifs, issuPS and profits Ih(•n•of, unto the morfyayPe, in feP si?np)P. ~1`~ the mart{/ayur rorPnanfs u•il)1 IhP nturftlalfPP Ihot IhP morfga~or is indefeasibly sri_PO of sail) lafl() 111 fPP CIRIt))1•; that t)IP morf(tat~or has good right an() IQII•fl1) allt)10IIfy t0 rUnl'Py Sall) )1111() aS llfOM~ 5a1/); f)1 (It fIIP mUrfq(llfar 11.11) R1a~P Sllrh further gSSllranrPS f0 perfect fhP fPP simple tlt)P t0 SalO )and i1I the mo?htageP as may rrasonably be required: that the mortgagor hereby rul)y wprrants the tif)e .to lair) )and and will defend the same against the lau~ju) r)aims of al) persons u~homsdel{Pr; a,<d• taut said land is free and (dear o/ a)l Pnrumhranres except that first mortgage.•Ar mortgages owed to First Federal S&L Association and being of record prior to the date hereof. PROVIDED ALWAYS, that if said MORTGAGORS herein shall pay unto said AiORTGAGEE herein the certain promissory note here- inafter substantially copied or identified, to-wit: 13,500.00 No 753 Fort (?ieroe, Florida April 24 s 19 80 . For value received, I, we, or either of us, promise to pay without defalcation fo the order of Harris Construction Corporation , at the office of the payee herein in Eo~t'~~ae,~~rida or at such other place as the payee hereini~all designate in writing, the sum of S 13j 7 u with interest from date at the rate of • 0 96 per annum, payable in monthly installments as follows, to-wit: ~ 243.26 on the 10th day of June 1980 and a like sum on the corresponding day of each like succeeding .month tfiereafter until Paid iri ful Notwithstandin the below stated right of pre-payment,it is understood t a e w n promissory note can not be paid-off before the 10th day oP July 1981. Also notwithatandin the below stated late penalty pen- alty as a percen age, a un erstood that the late penalty will be a flat X15.00 for each and everryy month the scheduled payments and any arrear~a ~re not aid by the 2~th ~~?y of the~ot~h. n e event an~amounts currently ue an or past due u r terms of this note are not paid by the 25th day of the month, a late penalty of 5.096 of the combined amounts currently due and/or past due, will be added to and collected with whatever 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 calculating subsequent late penalties. Amounts due under the terms of this note 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. (5) 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 onl the unpaid bal- ance of the principal sum. tf default is made in the payment of any installment when due, then at the option 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 this shall not extend the time of maturity of any subsequent installment. Neither forbearance, nor aaeptance 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, inducting a reasonable attorney's fee in the event of any default hereunder. WITNESS THE HANDS AND SEAL OF EACH PARTY. /s/ Richard A. Hammond /s/ Donna R. Hammond (~I.) (SEAL) (SEAL) !