HomeMy WebLinkAbout0728 AMOUyr' ~ r I.OCarrON GATE
84,000.00 _ I ~ Fort Fiercer Florida July 15, 1980
FOR VALUE--RECEIVED, the unctersigned, (~ointl; and severally, it more than one) promises to pay to
HAROLD U. JACOBSON and E. ANNETTE JACOBSON, his wife
or order, in t!rr rnannPr hereinafter sp?cifiert, the nrirn:rpal sum of
EIGHTY FOUR THOUSAND and 00/100----------------------------c-------- ~s 84,000.00-------1
With interest from date at the rate of * per cent, per annum on the balance irorrr time to time remaining unpaid. The said principal
and interest Khali be payable in lawful money of the United States of America at 5203 Club Way, Mariner Sands, Stuart, Fla
or at such place as may hpreaf ter be designated by written notice from the holder to the maker hereof, on the date and in the manner following:
' ,
*Said interest rate shall increase or decrease with and to the same extent at the annual prime
rate of interest charged by Chase Manhattan Bank of New York on~July l.of each year_in which
this loan is active and there remains a principal unpaid balance, (The said interest rate
being hereinafter referred to as the "Chase prime") so that the rate of interest payable by the
undersigned shall be based upon the "Chase prune" rate as of the opening of business on the
- said 1st. of July each year, as published in the New York Times. Said payments shall be in
annual amounts of $12,000.00 principal. plus interest on the remaining principal balance, '
payable on July• 15 of each year, beginning July 15, 1981 and the final payment shall be due
and payable no later than. July 1, 1987.
THIS NOTE IS NOT PREPAYABLE.
This note with interest is s~c~a;ed by a r•.iortg3ge on real estate, of even date hereti~ith, made by the maker hereof'in favor of the
said payee, and shall be corrstrrred and enforced according to the laws of the State of Florida The terms of said mortgage
are by this reference made a part hereof.
If default be made in the payment of any of the sums or interest mentioned herein or in said mortgage, or in the performance
of any of the agreements cenr pined herein or in card mortgage, then the entirN l;r inapol sum and accrued 'interest shall at the option of the
holder hereof bacom^ at once rlrre and collectible without notice, time being.of the essence: and said principal sum and accrued interest shall
Goth bear interest from arch time until paid at the highest rate allowable under the laws of the State of ,Florida. Failure
to exercise this option sha!I nit constitute a waiver of the right to exercise the seine in the event of any wbsequent default. '
Each person liabie hereon whether maker or endorser, hereby waives presentment, protest, notice, notice of protest and notice
' of dishonor and agrees to pay alt casts, including a reasonable attorney's fee, whether suit be brought or not, if, after maturity of this note
or default hereunder, or under said mortgage, counsel shall be employed to collect this note or to protect the security of said mortgage.
Wherever usxd here in the terms 'holder', 'maker' and 'payee' shall be construed in the singular or plural as the context may
require or admit.
MAKER'S ADDRESS
~ OZ(ANf1PtPKA GROyEST T E RSH J J
a
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AND the mortgagor hereby further covenants and agrees to pay promptly when due the prin-
cipal and interest and other sums of money provided for in said note and this mortgage, or either;
j 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
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
I becomes payable by virtue of such insurance the mortgagee shall have the right to receive and ap-
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
fvith the agreements, stipulations, conditions and covenants of said note and this mortgage, or
either; in. the event the mortgagor fails to pay when 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.
~ IF any sum of money herein referred to be not Promptly paid within t;hit^t;y days next after
the same becomes due, or if each and every the agreements, stipulations, conditions and covenants
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 the mortgagee, become and be due and pay able,
' 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 shall not constitute a waiver of any rights or op-
tions under said note or this mortgage accrued or thereafter accruing.
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