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~o ~iaue and to ~lotd the same, together wIlh the tenements, hsreditamenls and oppurte-
~ianres thereto l,eloriging, and the rents, issues and projifs thereof. unto the mortgages. in jss simple.
in111~ the mwtgugor covenants with the mortgages that the mortgagor u indsjsaaibly seised of sold
land to fee atmple: that the mortgagor has good right and lawful autho?ify to i~onwy sold land a ajon-
said : that the mortgagor will malts such further assurances to per/ect the j.. silnpls tills to said Land in the '
mortgagee as may r~easonobly be rsqutred: that the mortgagor hereby juUy war.ant: the !ills to said land
and will defend the same agntnat the lawful claims of all persons whomsoever: and that sold land 4 jres
and clear of all encumbrances
. PROVIDED ALWAYS, that if said mortgagor shall pay unto said
mortgagee the certain promissory note hereinafter substantially
copied or identified, to-wit:
PROMISSORY NOTE
5'8,000.UO VERO REACH, FLORIDA
OCPOItr:R ~ . 1980
Fc?C value received, we. jointly and severally, promise to lh,y, without
.3e±a1<:ation. to the ordc>r of FLORIDA FIRST NATIONAL RANK AT VF.RO BIsACH at
,101 20th Flaee, Vero Reach, Florida 32960, the sum of TWENTY EIGHT Tt10USAND
1ND h0,'11~~ (528,000.00} with interest from the date hereof at a rate of interest
ey;:al to two f~ercent l2~} shave the rime rate as established from time to time by
E'lori,ia N.itian,,l Ranks of Florida, Inc-, Jacksonville, Florida, on the unpaid
:i.,lanre until maturity. The principal and interest shall be }payable as follows: - ,
Principal shall be payable in 14 annual instalments of ONE THOUSAND
t:IvHT HUNDRED SIXTY-SIX AND 67/100 ($1,866.67), commencing on the
1st :lay of Warch, 1981 and a like sum on March 1st of e.rch year
there.Irter until a final principal payment of $1,866.62 will be due
:m Mar.:h 1. 1995. Tc• each principal payment shall be added interest
at the rate stated herein, which rate shall be adjtlstecl on that daily
basis as the prime rate established by'Floirda Nationzl Banks of
F'lori3a, Inc. may change, on the unpaid bal.,rice.
~ F.acl: instalment first shall bc' applied in payment of the interest and
:ice:. the unl»id balance on the principal sum. I E default is made in the pay-
••.~~::t of iriy instalment when cliie, and such default cDntinues 30 days, then at the
;:•tiort of the holder, and without any other notice, all the remaining instalments
I ,t,,:ll bc> ~i::e .i:^.d pa~•able at once. Privilege is given to 1>repay this note in
~iiole ;~r in mart at any time without penalty. Neither :orebe.~rance, nor .;ccel7t-
~ ~n;•~> b:• the: holder thereof after any default in payments hereon, shall be deemed
~'Cttnsic~n. Any instalment of principal and/or interest rot laid on its due date
shill hear interest at the rate stated herein.
Each r.u;:er, surety and endorsed hereof, jointly end severally, waives
:~rr,.,r,::, hresentz^ent, protest and notice of protest .for nonpayment and further
~ , ;I e~>s tv any `x tension of time of }~ayrnent, either before or after maturity,
~~?thc~ut notice to any of us; and to l,ay all costs of collection, including a
~ rc.tsut:able attorneys' fee, in the event of any default hereunder, and hereby
~:erally waives all benefit of homestead and exemption under the constitution
:;rl laws of each `Mate of the United States, as against this obligation or any
.extension or renewal hereof.
kitn~ss the han,i and seal of each party.
~3
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i Ralph i::. Johnson
S ra C. Johnson
~ 8001342 a:.~1~ '
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