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~0 I1AV~ ~ TIY~~ the same, fogelher w11h th• tenements, heredffamenls and appurte-
nances fhPMIO belonging, and the rents, issues and proJlfs thereof, unto the wtwApdpee, to %S ~imple.
T11~ the mwfgagor rnvenants wtlh the mortgagee Ihaf the mortgagor b indo(east6ly seised of said
[and to Jes simple; that the moNgagor has good right and lawful authoNfy to convey sold [and as aforr-
sak[: that the mortgagor wt[I moke such further assurances fo per/rct the j11 simple title to said tared in the
mortgages as may reasonably be required: that the morfgogo? hereby /ully warrants th• title fo sold [and
and u~ll[ defend the same against the [aw/ul claims of all persons whomswver: and that said Land is free
and clear of al[ encumbrances
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~V~dPd ~IUiuJS, that Jj sold mortgagor shall pay unto said mortgages the certain promis-
sory note hereinafter suhstanfial[y copied or identified, to-wit:
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NOTE
=50,000.00 Lake Worth, Florida
June 30, 1980
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ON OR BEFORE TWENTY-SEVEN MONTHS FROM DATE, FOR VALUE RECEIVED,- the undersigned
promise to pay to the Order of BOYD D. ELLIS and LOIS D. ELLIS, his wife, at
2001 Surfside Drive, Ft. Pierce, Florida 33450, or as otherwise desi Hated in
! writing by the holder hereof, the sum of FIFTY THOUSAND AND NO/100 (50,000.00)
DOLLARS, together with interest at the rate of NINE'b ONE-HALF PERCENT (9~)
per annum, and interest only shall be paid quarterly until maturity or until the
Note is paid in full.
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All amounts shall first be applied to the payment of accrued interest and the
balance remaining shall be applied to the payment of the principal balance. ~
Interest shall be paid at the rate of NINE BONE-HALF PERCENT (9~X) per annum ~
on all unpaid balances. -
This note shall~be considered in default when any payment required to be male
hereunder shall nbt be paid within shirty (30) days after same becomes due, and
~ shall remain in default until such payment shall have been made; while in default,
~ this note shall bear interest at the rate of NINE BONE-HALF PERCENT (9~~).
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The undersigned shall have the right to anticipate and prepay all or any part of
the unpaid balance at any time or times upon payment in full of interest
accrued to the time ~f the prepayment, provided that this Note is not then in
default.
All persons now or hereafter becoming parties hereto severally waive demand,
notice of nonpayment and protest, and agree that in the event of default in the
payment of any indebtedness due hereunder fora period of thirty (30) days, the
whole of said indebtedness shall thereupon at the option of the holder of this
Note become immediately due and payable; and if this Note is placed in the hands
of an attorney for collection, to pay reasonable attorneys' fees for making such
collection.
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BUOK 334 Pa~E 151 , ~ t
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