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~o sue and to Mold the s~:me. lugelhe- will: the fenementa.~ heredilumenla and uppu-fe
nan•i~s Ihe-elo helonping, and the rents, issues and projils Ihereoj, unto the mortgagee, in jM simple.
end the mortgagor covenants with the mortgagee Iha! the mortgagor is indejeaaibly seized of said
land in /ee simple: that the mortgagor has good right and lawful authority to convey acid land as ajon-
said; that the mortgagor will make such further assurances fo perfect the fee simple title to said land in the
mortgagee as may reasonably be required; that the mortgagor hereby Jolly warrants the title fo said land
an<l will defend the same agoinst the law/uI claims of all persons whomsoever; and that :aid land u free
and clear of all encumbwnces.
In the event that the Mortgagors default in any pa nt or condition sti ulated fn
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 wortgage, then the entire sums less any
u earned interest secured by this mortgage shall become due and payable at the optic
o~ 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 propper y and in
the event of default in any such payment or payments, conditions or stipu~a~ions,
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 anc~ 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 b the
Constitution and laws of Florida on the property encumbered by this mor~gage.
~!'ouided always, shat i f said mortgagor shall pay unto said mortgagee the certain promis-
sory note hereinafter substantially copied or identified, to-wit:
= 150 , 000.00 Fart Pierce, Flarida December 10 , 19 80
FOR VALUE RECEIVED, the undersigned, jointly and severally, promise to pay to the
order of Cottai Belt Insurance CotnPan~, Inc.
Post Office Box 29405 __at _New Orleans, Louisiana
the principal sum of a~IE HtI~D I•ZFTY ~USAND D(nJATiS &00100 DOLLARS, with
interest at the rate of ------ per cent per annum from - ------------------ until
paid, in installments as follows:
Principal atrount due and payable in full upon estreature or violation of
surety barcxi for Robert Lippner, Jr. posted in USA v. Robert L. Lippner,
Case No. 80-3348, U.S. District Court, S.D. Georgia, Savatu~ah Division, or
surety bond for Robert Lippctier, Jr., posted as appeal bond in USA v. Rnctiie
Van ):Yipp, et. al., Case No. 80-8016-CR, U.S. District Court S.D. Florida.
Principal smolt to be satisfied upon appearance of Robert Lippner, Jr. and
the release of the surety from any and all liability an above mentimied bonds.
The maker of the note acknowledges having read the ternls of the said bonds
which cor~diti~ans and provisions are hereby incorporated herein by reference.
If any installment be not promptly paid within ------- days ne~ct after the same 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. .
( AL)
IP S
(SEAL)
GLADYS C . LIP)'NER
d~ 344 P~F2494