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HomeMy WebLinkAbout0715 ~RTGAGE NOTE .MOUNT LOCATION OATS 10,00Q.00 ~ Ft. Pier Flori June 10 1 fOR VALUE RECEIVED, the undersigned, (jointly and severally, if more than one) promises to pay to W. H. Poxes and Neva L. PoWera, hia rife order, iri the manner hereinafter specified, the principal wm of - - IS 10 000.00 Ten Thousand and No/100 • :h interest from dsu at the rate of f O.000OPK cent, per annum on the balance from time to time remaining unpaid. The said principal. d interest shall be psyable in lawful money of the United States of America at Ft. Pierce, Florida at such place ss may hereafter be designated by written not~oe from the holder to the maker hereof, on the date and in the manner following: Principal and interest is payable Monthly in equal installments as folloxs: Beginning on July 30, 1980, the stml of $132.16, and the same amount on the same day of each month, in each year thereafter, until-the entire principal scuts of $10000.00 together xith interest, as herein provided, has been paid in full. All payments are to be applied first to interest at the rate specified herein upon the principal star of $10000.00, or so much thereof, as may from time to time remain unpaid and the balance of-each payment shall be applied to principal. This note is prepayable in xhole or in part at any time xithout penalty. A late charge of X5.00 shall be applied on any installment not paid within five (S) days of the due date. Payee may accelerate if payor defaults for 30 days cummulative during any calendar year. • This note with interest is secured by a mortgage on real eststla, of evsn date herewith, made by the maker hereof in fsvor of tlw id payee, snd shall be construed and enforced according to the Iswa of the State of lflorida The terms of said martppe e by this reference made a part hereof. If default be made in the payment of any of the wms or interest mentioned herein a in said mortgage, or in the performance f any of the agreements contained herein or. in said mortgage, then the entire principal sum and accrued interest shall at the option of tM .older hereof become st once due and collectible without notice, time being of the essence; and said principal wm and accrued interest shall oth bear interest from such time until paid at the highest rate allowable under the laws of the State of Florida Failure ~ exercise this option shall not constitute a waiver of the right to exercise the same in the event of any wbsequent defwlt. Each person liable hereon whether maker or endorser, hereby waives presentment, protest, notice, notice of protest and notice dishonor and agrees to pay. all costs, including s reasonable attorney's fee, whether suit.be brought or not, if, after maturity of this nob default hereunder, or under said mortgage, counsel shall be employed to collect this note or to protect the security of said mortgage. Wherever used here in the terms 'holder', 'maker' and 'payee' shall be construed in the singular or plural as the context may .,ire or admit. MAKER'S ADDRESS George Blanchard an a E AND the mortgagor hereby further covenants and agrees to pay promptly when due the prin- ~ j cipal and interest and other sums of money provided for in said note and this mortgage, or either; f to pay all and singular the taxes, assessments, levies, liabilities, obligations and encumbrances of every nature on said property; to permit, commit or suffer no waste, impairment or deterioration E of said land or the improvements thereon at any time ; to keep the buildings now or hereafter on said land fully insured in a sum of not less than its full insurable value, but in no event less than the amount secured by this mortgage, in a company or companies acceptable to the mortgagee, the pol- icy or policies to be held .by, and payable to, said mortgagee, and in the event any sum of money becomes payable by virtue of such insurance the mortgagee shall have the right to receive and cep- . ply the same to the indebtedness hereby secured, accounting to the mortgagor for any surplus; to pay all costs, charges, and expenses, including lawyer's fees and title searches, reasonably incurred or paid by the mortgagee because of the failure of the mortgagor to promptly and fully comply with the agreements, stipulations, conditions and .covenants of said note and this mortgage, or either; in the event the mortgagor fails to pay whin due any tax, assessment, insurance premium or other sum of money payable by virtue of said note and this mortgage, or either, the mortgagee may pay the same, without waiving or affecting the option to foreclose or any other right hereunder, and all such payments. shall bear interest from date thereof at the highest lawful rate then allowed by the laws of the State of Florida. 1 !F any sum of money herein referred to be not promptly paid within thirty days next after ~ the same becomes due, or if each and every the agreements, stipulations, conditions and covenants r of said note and this mortgage, or either, are not fully performed, complied with and abided by. then the entire sum mentioned in said note, and this mortgage, or the entire balance unpaid there- on, shall forthwith or thereafter, at the option of t'he mortgagee, become and be due and payable, anything in said note or herein to the contrary notwithstanding. Failure by the mortgagee to exer- cise any of the rights or options herein provided ~ hall not constitute a waiver of any rights or op- tions under said note or this mortgage accrued or thereafter accruing. t almK ~5 PACE 714 ,.y E~:~::