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~o ~iaue and to ~iotd the same. together euilh the lenemenls, hc•nvlifumants and appurfe
ncuu•es Ihc•refn belonging, anti Ibe rents, issues caul pro(ih Ihen•o(, unto the mortgagee, in (ee simple.
i 1f?nd Ilia murf~lallor rurc•nants will, Il,e mort}Iatlee Ihal fl,e mortllaryor is incle(easi!?ly sc•i:ecl of said
land in (ee simple; that the mortgagor has good right and lau~(ul authority to convey said land as a(ore
said: Ihat the murtryayor will malre such (urlher assurances to per(ec•1 the (ee simple title to said land in the
mortgagee as may reasonably be required: that the mortgagor hereby (ally warrants the title to said land
and will defend the same against the lau•(ul claims of all persons whomsoever: aced that said land is nee
and clear'c?( all c•?,c•ccml,rnnc•es except th2t certair. first mortgage as recor~ed
in O.F..Book 194 at page 417 of the public recercis of St. Lucie
County, Florida.
PROVIDED ALWAYS, that if skid MORTGAGORS herein. shall pag ur?to
ss.id MORTGAGEE herein the certair. promissory note
rereinafter substantially copied or identified,
to-wit:
E 8,000.00 No 755
Fort Pierce, Florida May 6 , 19 80
For value received, 1, we, or either of us, promise to pay without defalcation to the order of
Harris Construction Corporation , at the office of the payee
herein in ort Pierce, Florida or at such other place as the payee herein al~ designate in writing, the
sum of E ~ s 000.00 with interest from date at the rate of l~• % per annum, payable
in monthly installments as follows, to-wlt:
= 144.15 on ~ 10th day of June 19 80 and a like sum
on the Dorn nding da of each like sueceedin month thereafter until paid In full
,,*Iotwithstandin the~eloty sated late penal~y as a percentage of arrears
e a e pena y is understood to be a flat #15.00 for each and every
r.:onth the within promissory note is in arrears. Alsonotwithstanding the
below stated right of pre-payment, the within prom ssory no e~not.
be pre-paid before the 10th day of July 1981.
{ In the event any amounts currently due and/or past due under the 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 penaltjes. Amounts due under the terms of this note are understood to be but not limited to.
i (1) Regularly amortized interest and principal payments. _
I (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.
a
l Each installment first shall be applied in the payment of the interest and then on the unpaid bal-
~ ante of the principal sum. If default.is made in the payment of any installment when due, then at the
l 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 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, including a
reasonable attorney's fee in the event of any default hereunder. -
/s/ William Gardner 3r.
WITNESS THE HANDS AND SEAL OF EACH PARTY. am ar er r.
(SERI)
(SEAL)
(SEAL)
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