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HomeMy WebLinkAbout0780 ~ h~h~'-~P~?fitih+hh~+ti'•~~'•O~h~~v'•~~'•Mhhh~,}~titititi+{•{•an'•~~•::h'rhtitihhhhkl<~<+~hh~Mti+?tih4~hti•P~t~~'~hfi~ S._23,_500.00 STUART, Florida, ~'~~`_"-""-'----'~-Lj~-.-_------ lq 1 ~ BU-- j~ FOR VAI UE RECEIVED, the undersigned, 'ointly and severally, PROMISE TO PAY to the order of . i..---JAMES__E.MGIBSON_ and_KATHRYN._P,.. GIBSON,~---his--wife------------------------------------•-------------------------------- ~ _--Twenty-T.hL~e.S~1QU3.i3nS~_.~kY_~. Hundresi__;~lnd.liQ/IOQ.---.-------_------.---.------..DO~i.~•~5, - - -.-or such other place as the ho~der • hereof may designate in writing, together with interest from date at the rate of - 14-____._ per centum per annum on the unpaid balance until maturity. The said principal and interest shall be due and payable as follows; There shall-be made 60 equal monthly payments of $364.89 each which :i: includes interest at the rate of 1496 per annum, with a final 61st Balloon payment of $15,674.50 together with interest at the rate of 1496 per annum on the unpaid balance. Payments shall first be credited to interest, remainder to principal. Prepayment may be made in whole ~ part without penalty. The first payment is due one month from uNr" ~ 1980. 't' - •i~ If de/cult be made for 3~ - days in the payment of any installment of pincipa) or intertsl or any part thereo/, tM whop. sum then remaining unpaid with mterNt shall a1 holder's option bKOnte dw and payable without notice. Failwe to nercne such oprion shall nos c~+x,wtt a waiver of the right ti •j re exercise tM same in tM .vent of subseQ~ent dtfautt. Atre? ma?wity befit principal and Kuvtd interest shaft bear interest at -lat..-_ per centum per annwn until paid. TM mskee and endorsee of this note iwther waive demand, notice of non-payment and protest. 1f this acre is not paid at matwity and the same is placed wiM an attorney fa collection, 1M makers end endorsers Mreof agrN fo pay all costs of collection, inclvd,ng all evert costs and reasonabb tltwnay feH. { t ii any payment is paid more tho~~days_~ier due then, in oddition.to acid payment, the rocker shell pay o IATf CHARGE of Soo of the payment due or 55.00, vrhrchever is less. This tx construed to modify the default povisiorts htrem or the interest duo otter default. t. t, i' ~'a~P ~~ULi n - S~ o f ~ • - ,Yt - (SEAL) i, L~,r~, `j' ----(SEAL) TE'F1l1HN-~ TT'-'S ~ tip tihh'-v~'++hti0+}L+fiti'+~'-:ri.+fi<Cwh'?~'~+',•.h'1{•~?~:•~''w'~tirs-:•s'-r}•},, and shall duly, promptly and fully perform, discharge, execute, effect, complete, comply watt and abide by esu:L and every the stipulations. agreements, conditions and covenants of scud prumtssory note and of this mortgage then this mortgage and the estate hereby created shall cease and be null and veld. It is understood that each of the words. "note." "mortgagor" and "mortgagee" respectively and the pron- ouns referring thereto, whether in the singular or plural anywhere in lhls mortgage, shall be singular it one only and shall be plural jointly sad severally, if more than one, and shall be tna.+culine, feminine and/or neuter. when- , t ever the context so implies or admits. , • Md Bald Mortgagor for himself and hie heirs, legal representatives, successors and assigns. hereby coven- ants ana agrees to and with said Mortgagee, hie legal representatives, successors and ensigns: 1. To pay all and singular the principal and interest and the various and sundry sums of money payable Dy virtue of said promissory note. sad this mortgage, each and every, promptly on the days respectively the soma severally become due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and incumbrances of every nature and kind now on said described property, and/or that hereafter may be imposed, suffered, placed, levied or aaseaaed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- news secured hereby, each and every, when due and payable sccoMing to law, before they become delinquent, - and before any interest attaches or any penalty is incurred; and in so tar as any thereof is of record the same I shall be promptly satisfied and discharged of record and the anginal official document (such as, for instance. E Lhe tax receipt or the satiataction paper officially en.iorsed or certified l shall be placed to the panda o[ said Mortgagee within ten days next after payment; and in the event that any thereof is not so paid, aatistied and discharged, said Mortgagee may at any time pay the same or any part thereof wtithout 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 ?~ayable :tad shill bear interest 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. I 3. To place and continuously keep on the buildings now or hereafter situate on said land fire and windstorm vale Insurance in the u_4ual standard policy form, in a Rum not less than S~Qa.a.--.-~.nslu-abl-e--••.•--_...., In such com- pany or comp^airs as may be approved by sail ]1ic?rt;,•a~c•e: an~i nil such insurance policies on any of acid build- ings, any interest therein or part thereof, in the aggregate sum aforesaid or in excess thereof, shall contain the usual standard mortgagee clause making the lugs urdr•r stud policies, each and every, payable to said Mortga- gee as his interest may appear, and each and et•Pry stt.•h pnltcy Rhall lx promptly delivered to and held by said I?tortRagee; and, not less than ten days in adranr'e of the expiration of each policy, to deliver to aald Mortgagee a renewal thereof, together with a receipt for the premium of Rttr•h renewal: and there shall be no such insur• once placed on any of Raid buildings, any interest therein or part thereof, unle.+s in the form and with the loss payable as aforesaid: and in the event any sum of money becomes payable under such policy or policies said Mortgagee.shall have the option to receive and apply the Rame nn account of the indebtedness secured hereby or a to permit said :?fortgaQor to receive Ind use it or any part thereof for other purposes without thereby waiving or impairing any equity. Ilea or right under or by virtue of this mortgage; and in the event said Mortgagor shall for any reason [ail to keep the said prom,+~s so insured, or tail to deliver promptly any of said policies of insurance to said Dtortgaf{ee, or fail promptly to pay hilly any premium therefor, or in any respect fafl to per- form. discharge, execute, effect, complete, comply with and abide by this covenant, or any part hereof, acid Mortg- agee may place and pav for such insurance or any part thereof without waiving or affecting any option, lien. equity or right under or by virtue of this ~riortgage, and the full amount of each and every such payment shall be immediately due and payable and shall bear interest 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. 4. To permit, commit or suffer no waste, impairment or deterlosatlon of said property or any part thereof. 6. To pay all and singular the costs, charges and expenses, including reasonable lawyer's fees and cost of abstracts of title, fncurred or paid at any time by aatd Mortgagee because and/or to the event of the failure on the part of the said Mortgagor to duly, promptly and fully perform, discharge, execute. effect, complete. rnmply with and abide by each and every the stipulations, agreements, conditions and eovenanb of said promis- sory note, and this mortgage, any or either, and said costs, charges and expenses, each and every, shall be im- mediately due and payable, whether or not there be notice, demand, attempt to collect or suit pending: and the full amount of each and every such payment shall bear interest from the date thereof tuiW paid at the rate tsf ten per centum per annum: and all safd costs, charges and expenses so Incurred or paid, together ntrith sucb tn- ? feral, slrall be secured by the Ilea of this mortgage. # i PA,,.D 8t~)1(cc,'~ PdCE Jvr.j. L.:~i~.~+1 J.