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Home My WebLink About0153 s 852, OJ0,00 - - vero Beach, Florida .October 28 19'j gp A:, below ~cified - after date, 1, we or either of us promise to pay to the orde? of PAG'~lANOCK DEyEIAA?i~l1` . ~RPORATI(xV - - .EIGNf . HUNDRm FIFlY T~VO THQ)SAID--~--__f._.__-_....,_~._...--- - oo~wts fa value received, wyable of office. of John H.. ~lthexland, Attorney-at-Jaaw,_ Ve>;~ .Aeactl, Florida, --.ox-_suct>a_.9t~@,t' place as.,~yee may--designate__in• writing . - -with Interest from •---/.L/~ ~_~__U__ of the rate of . . - _ per cent per annum until paid; interest payable ~1~? s~ci~'fed. Md each of us whither maker, guarantor or endorser, hereby severally waives and renounces any and a!1 homestead eYemplion rights we may Mve under the Constitution or Laws of the State of Fbrlda, or any other State, or United States, as against this note; and each further wa~vea demand. notice of nx,-payment and pofesf, and in the event if becomes necessary to colkct this rate through an attorney, ag?ees to pay all costs of tolktMon, including reasonable attorney's fee- ltle principal of this note is due and payable in thrae(3) equal annual i ns tai Urlents of $284 ,000 , 00 each , camlencing on the ~~~day of X~ A.D. 1981 and continuing on the same date of each and-every yeas- thereafter until said principal sum is paid in full. In addition to the principal payments, interest shall be due and payable on the same date that the principal payments are due at the rate of 12;~ per annum on the unpaid balance from time to tune remaining, and all payments shall be applied first to accrued interest and the remainder to principal. In the event of a default in any payment of principal or interest, which default shall"not be corrected within 30 days thereafter, then the entire remaining unpaid balance of this note shall immediately beeocne due and payable at the option of the holder of this note. Any payment or any part thereof may be made on or before its due date without penalty. After maturity, both principal and accrued interest shall bear interest at 12~ per-annum until paid. n,o..------------------ - - a,e - - sl--Doy-le- W....~ot-torn.-,_~Tr.-•-- _ - - - - - s~ and shall duly, promptly and fully perform, discharge, execute, effect, completes, comply with and abide by each and every the stipulations, agreements, conditions and covenants of said promissory note and of this mortgage. then this mortgage and the estate hereby created shall cease and be nail and void. It is understood that each of the words. "note."' "mortgagor" and "mortgagee" respecuvely and the pron- ouns referring thereto, whether in the singular or plural anywhere In this mectgage, shall be singular 1t one only and shall be plural jointly and severally, it more than one, and shall be masculine, feminine and/or neuter. wher- ever the context so implies or admits. Md said Mortgagor [or himself and his heirs, legal representatives, successors and assigns, hereby coven- ants ana agrees to and with said Mortgagee, his legal representatives, successors and assignor: 1. To pay s]1 and singular the principal and interest and the various and sundry soma of money payable_b~ _ virtue of said promissory note, and this mortgage, each and every, promptly on the days respectively the aortae severally become due. 2. To pay all and singular the taxes, assessments, levies, liabilities, obligations and Incumbrances of every nature and kind now on said described property, andior that hereafter may be imposed, suffered, placed, levied or assessed thereupon, and/or•that hereafter may be levied or assessed upon this mortgage andior the indebted- ' mess secured hereby, each and every, when due and payable accoMing to law, before they become delinquent, ~ and before any interest attaches or any penalty is iticurrrd; and in so tar as any thereof is of record the same shall be promptly satisfied and discharged of record and the onRinal official document (such as, for instance, Jie tax receipt or the satisfaction paper officially endorsed or certi[iedt shall be placed in the hands of said 1?tortgagee w~ihin ten days next after payment: and in the event that any thereof is not so paid, aatistied and discharged, said Mortgagee may at any time pay the same or any part thereof without waiving or affecting any option, Tien, equity or right under or by a•irtiie of this mortgage, and the full amount o[ each and every such payment shall be immediately due and payable and shad bear interest from the date thereof until paid at the rate of ten per centum per annum and trgether with such interest shall be secured by the lien of this ¢ mortgage. 3. To place and continuously keep on the bu:ldinFa now or hereafter altuate on said land fire and windstorm tnsurance in the usual standard policy form, in a Qum not less than i ~1~.~- .~.n,S.t>x'abl.e-•~~~--. In such com- pany or comp: mica as may be approved by sail Alortl;a~~re; and all such insurance policies on any of said build- ings, any interest therein or part thereof, in the a>'rreKate gum aforesaid or in excess thereof, shall contain the usual standard mortgagee clause making the Iu44 urrf~r said policies, each and every, payable to said Mortga- gee as his interest may appear, and each and es•ery sur h policy shall be promptly delivered to and held by said 1ltortgagee: and, not less than ten days in advance of the expiration et each policy, fo deliver to said biortgaRee a renewal thereof. together with a receipt for the premnim of such renewal: and there shall be no such insur- ance placed on any et Qaid bullriings. any interest therein er part thereof, unless in the form and avlth the loss payable as aforesaid; and in the event any gum of money becomes payable under such policy or policies said Mortgagee shall have the option to receive and apply the same on account of the indebtedness secured hereby or to permit said Mertgapor to receive and nee it or any part thereof for other purposes without thereby waiving or impairing any equity, lien er right under er by virtue of this mortgage: and in the event said Mortgagor shall for any reason fail to keep the said premis~4 so insumd, or fail to deliver promptly any of said policies of insurance to said Mortgagee, or fail promptly to pay fully any premium therefor, or in any respect fail to per- 3 form, discharge, execute, effect, complete, comply with and abide by this covenant, or any part hereof, said 1?iortg- agee may place and pay for such insurance or any part thereof without waiving or affecting any option, lien, equity or right under er by virtue of this mortgage, and the full amount of each and every ouch payment shall be Immediately due and payable and shall bear interest from the date thereof until paid at the rate of ten per centum per annum and together with such Interest shall be secured Dy the lien of this mortgage. 4. To permit, commit or suffer no waste, impairment or deterioration of Bald property or any part thereof. 6. To pay eII and singular the costs, charges and expenses, including resaonable lawyer's fees and cast of abstracts of title, incurred or paid at any time by aald Mortgagee because and/or in the event of the tailors on the part of the said Mortgagor to duly, promptly and tally perform, discharge, execute, effect, complete. comply with and abide by each and every the stipulations, agreements, conditions and covenants of acid promis- sory note, and thla mortgage, any or either, and said costs, charges and expenses, each and every, shall be Im- mediately due and payabte, whether or not there be notice, demand, attempt to collect or cult pending; and the X11 amount of each and every such payment shall bear interest from the date thereof until paid at the rate of IL per centum per annum: and all aafd coats, charges and expenses so lactiriM or paid. together with such in- terest, shall bs secured by the Ilan of this mortgage. a~~x 3~3 NscE 15`3 - _e