HomeMy WebLinkAbout1971 ` i '
t bQ.tl?.r wttti tke tenawent•. b.hdtt.m.Ra and appurte-
nano•• t6.r.b 6elonptn~, and t/~. rent., t••u» and pro/tt• th«+e% aneo the rno.to.o.., a •tMple.
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IanO to /ee etlnpN; tkat the nartpapor la• pood ripl~t and lew/~ ty b oonoay M~ ~ as a/Afr-
,atc[: that tl~e n~orepapo? wtU nape auc/~ /urtlar aauronca to per/ect tl?a •tmpb ettl. to eatd Land M tl~a ~
nartpapK a• naylra•ona6ly 6e n[gaind: that flw mort~apw INnby[/_u-Up ww_n+anb flt~a~•tifla b aald land 1
WtU d1/fnd till •M1f apai/l•f t~N ~/u( ~ 0/ aU pff~On• wI~O~O~R: a~ t/N~ ~ ~ t• /Irf i
and clear o/ all ancum6roncw except those taxes accruing subsequent to December 31,
1979.
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~IWaIJS, that t/ said nartgogor •?iaU pay onto •atd moregoQ» eF~e certain pron~t•-
•ory Holt lteretna/ter •ub•tanttaUy copied or identi/ted. b-wit:
r~uurt;nuE Nur?: _
$ 20,000.00 Port St. Lucie ,Florida
June 19 1980
'r'OR VALUE RECEIVED, the undersigned, (3ointly and severally, if more than one) promises to pay
. :,;;CIEt.A,tiD RIVER HOMES,or order, in the manner hereinafter specified, the principal sum of
.`,'i:~:TY THOUSAND DOLLARS AND NO/100 ($20,000.00) with interest as specified below. The said
incipal and interest shall be payable in lawful money of the United States of America at: 20,000
~.5. 1, Jensen Beach, FL 33457, or at such place as may hereafter be designated by written
:;;•tice from the holder to the maker hereof, on the date and in the manner following:
T::c purchase money first mortgage can be subordinated to a first mortgage construction loan.
":';e principal of the purchase money first mortgage will be paid in one final payment unless the
-,-rtgagor can make partial payments. The interest will be accrued during the first six months at
der annum on the unpaid balance with the interest to be paid at the end of the .first six months
;:~"less the mortgage is fully paid before that time in which case the interest payment would be due
~ t i:e mortgage pay-of f date.
:,c~ interest rate will change to 17.5X per annum at the beginning of the seventh month and will be
;~-.iii monthly based on the unpaid balance. If a valid contract which includes a lOX cash deposit
. in process of closing at the end of six months for the sale of the house on Lot 29, Block 274,
: St. Lucie, Section 3, then the time for the 17.5X rate to start will be the beginning of the
i„nt: month. The proceeds from the sale of that house are to be used to pay off the balance of
;purchase money mortgage of this contract.
purchase money first mortgage together with any accrued interest shall be due and payable in '
one year after date of closing.
:-.~s note, with interest is secured by a mortgage on real estate, of even date herewith, made by
maker hereof-in favor of the said payee, and shall be construed and enforced according to the-
: ~ of the State of Florida.
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~ aefault be made in the payment of any of the-sums or interest mentioned herein or in said
~ ,,-t-gage, or in the performance of any of the agreements contained herein or in said mortgage, then
entire principal sum and accrued interest shall at the option of the holder hereof become at
due and collectible without notice, time being of the essence; and said principal sum and
f -.-rued interest shall both bear interest from such time until paid at the highest rate allowable
.:~.er the laws of the State of Florida. Failure to exercise this option shall not constitute a
i ~:-:i~:er of the right to exercise the same in the event of any subsequent default.
person liable hereon whether maker or endorser, hereby waives presentment, protest, notice,
.~~e of protest and notice of dishonor and agrees to pay all costs, including a reasonable
~~~~rney's fee, whether suit be brought or not, if, after maturity of this note or default hereunder
- artier said mortgage, counsel shall be employed to collect this note or to protect the security
said mortgage.
:...;lever used herein the terms "holder", "maker" and "payee" shall be construed in the singular or
-:~rai as the context may require or admit. / ~
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