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~o stave and to Mold IItP same, Iogellter wills Ilse fertemenls: heredifamenea artd appttrfe
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nances Ihen~fo bPlun~ling, and the mnfs, issues and profits fhereoJ, unto the mwlgagrt, In fee simple. t
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i end the mortgagor covenants with the mortgagee That the mortgagor is indef
ewibly seized of said -
Land in fee simple; that the mortgagor has gtwd right and lawful authority to rnnvey said land as afore-
said; Ihaf the mortgagor will make such Jurlher assurances to perJec! the fee simple title to said land in the ~ s
mortga{fee as may trasonably 6e ?equired; that the mortgagor hereby Jully warrants the Title to said land
antf will defend Ilse Same against the IawJul claims of all persons whomsoever; and That said land t: free ! ~
and clear of all encumbrances
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~rouided ~ltways, Ihaf i/ said mortgagor shall pny unto snid mortgagee the certain prom4-
.j sory note hereinafter Substantially copied or identified. to-wit:
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= 207,675.00 Ft. Pierce- October 3, 80
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FOR VAIUE ItECE1VED Nte sMSdersryned promises to pay to the Urdu of
PONY PINES, INC., a Florida Corporation
the p.na,pal s,rrn d. TWO.-Hundred seven Thousand .six Hundred .seventy ~,,,;,,s 207 , 675.00 1.
Five Dollars and no/100 ~ -
topNher with mteresl thpeon Irora date, at tM: rated . .12.0 annum -
..................per er,1 Per swrt.) matw,tr s..,r2 ,nrrrea
6o,n9 parable SE.Is!. BQ,..lOW on the dey a1 and
each year; both principal and m?uest bang poya~:e m I..wlul monry of the United States a ,t; eQwvaienl, at
..sa,d pr,ncq„! sum ro be prr,,bk on rFw dares and the smaunls spcal rd below, to-wA
The Principal amount of $207,675.00 shall bear interest at the
rate of 12$ per annum and shall be paid as follows: Four annual
payments of $90,999.32 which payments shall be due on each of the
first four anniversaries of the date of this note. On tFe fifth
. anniversary of the date of this note, a balloon payment in the
total amount of $146,531.22, representing $130,830.44 in Principal,
_ and $15,700.61 in interest shall be then due and payable.
*THIS NOTE MAY NOT BE PREPAID BEFORE JANUARY 31, 1981, BUT THERE
" SHALL BE NO PENALTY FOR PREPAYMENT THEREAFTER.
Each matey and endorser severally waives demand, Wotesl and not,ce cl matrrrdy, non-paymerd w protest arrJ ant :rqurre+nnnts neceswr to hold eecA of
i Ihcyn rb4 as makers ,,n t rr?dorscys
tach maser and indorser tw,h~r .,grew. toraly and sereraN/, tc pay all c~~sts d colt.:ct,on. incl;rd,rg a roason..hle atlorrror's tee m rase the principal of
rh,s not, a any pavmrnt on the princ..wl w any interest Ihrrton a not p.,,d at Ih! rrspectwe marurdy Thereof, or in case d bcccxnts necessary to protccs the
s..<w.ty hereof whelt,er swt t,e bcwyM or na.t l~ • O
Ihn note and deterred mitt l Wy nls shall bmr ,nlayrst a1 Ihr raft d ..per cart, per annem koin rnarsirAr i.nril pa«7
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ihis note is secwed by a ..-mwtgage u) turn dale here«,th and is to be construed end ,,.(weed according to the Iarrs of rlr,> Sratr o! tla,.dn
upua ddauU in the payment d pincipal andtw mlrresl dire on any rate secwed by said Morrg.,ge, alt noses so eeeured an.t rem,iin,ng unpud shall (wth..,rh
G:corpe dun and payable notwilhslsnding their tenor ~ .
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