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3'0 ~iaUe and to ~iotd the sarne. tuttrther with the tenements, hereditamenb and appurtr
nanc~~s thernto b~lan4ing. and the rents, issues and profits thernoj, unto the mortgagee, in fee simple.
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ii1Ni the mortgagor covenants with the mortgagee that the mortgagor is tndejea,i6ly seized of said
land in /ee simple: that the mortgagor has good right and lawful authority to rnnvsy said land as ajoro-
~~, said; that the mortgagor will make such /urther assurances to perfect the fee simple title to said land in the
mortgagee as may reasonably be required : that the mortgagor hereby fully wa-rants the title to said land
and will de/end the same against the lawful claims of all persons whomsoever; and that said land is free
and clear o/ all encumbrances,
In the event that the Mortgagors default in any pa eat or condition sti Mated in
any prior mortgage for a period of sixty days, or 3n the event of any de~ault in a
prior mortgage so as to cause such prior mortgage to be accelerated and become due
and payable during the continuance of this mortgage, then the entire sums less any
arse rued interest secured by this mortgage shall become due and payable at the
opt~on of the Mortgagee.
The Mortgagor covenants and agrees to make all payments and perform all conditions
and covenants called for in any prior mortgage now incumbering the property, and in
the event of default in any such payment or payments, conditions or stipulations,
the Mortgagee, without waiving the option to foreclose, herein reserves the right tc
make such payments, or perform such conditions or stipulations, so as to maintain
the prior mortgages and prevent a foreclosure thereof. Any and all such sums paid
or expenses incurred on behalf of the Mortgagor shall be added to the Mortgage in-
debtedness and be secured by this mortgage.
And the Mortgagor waives all right of homestead and exemption granted by the
Constitution and laws of Florida on the property encumbered by this mortgage.
~roVJded ~lwayS, that ij said mortgagor shall pay unto said mortgagee the certain promis-
sory note hereinafter substantially copied or identified, to-wit:
FOR VALUE RECEIVED, the undersigned, jointly and severally, promise to pay to the
order of Cottai Belt Insurance Company, Inc,
~ 150,000.00
Fart Pierce . Florida December 10 , 1 ~ 80
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Post Office Box 29405 at _New Orleans, Louisiana
the .principal sum of ONE HLNI~ED FIFTY T110ISAND DOLAR~ &00/100 DOLLARS, with
interest at the rate of _------ per cent per annum from ------------- until
paid. in installments as follows:
Principal amount due and payable in full upon estreature or violation of
surety band for Robert Lippner, Jr. posted in USA v. Robert L. Lippner,
Case i~b. 80-3348, U.S. District Court, S.D. Georgia, Savannah Division, or
surety bond for Robert Lippner, Jr., posted as appeal baxi in USA v. Ramie
Van Fripp, et. al., Case No. 80-8016-CR, U.S. District Court S.D. Florida.
Principal atmtnt to be satisfied upon appearance of Robert Lippner, Jr. and
the release of the surety from miy and all liability on above mentioned bonds.
The maker of the note acknowledges ha~virlg read the ternB of the said bards
which conditia~s and provisions are hereby incorporated herein by reference.
If any installment be not promptly paid within ------- days neat after the name be-
comes due, then, at the option of the holder hereof, the full amount remaining due upon
this note shall thereupon become due and payable at once, together with all other indebt-
edness stipulated in this note and in the mortgage given to secure the same.
The makers and endorsers of this note further agree to waive notice of non-payment,
protest and demand for payment, and in case suit shall be brought for the collection
hereof or the same shall be collected upon demand of an attorney, to pay all eapensea
of such collection, including a reasonable attorney's fee thereon.
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(SEAL)
GLADYS C. LIPpNER
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