HomeMy WebLinkAbout0501;c,
~o ~ue ~nd to ~otd I~~e same, loyeftier, w11h Ihe fene~wnts, herec~ifamenla nnd uppwte-
nnncea Ihernfo ~~p~onpln~, an~ ftiP renls, issues ant~ profifs thsreof, unlo Ihe mo~fgagee, tn ~ee timp~e. _
~~ fhe morfflagar rovenanls u~ifti ftie morfgagee l~nl ftie mwtgagor is tndeleaaib~y seizecj o~ said
land in (~e simple: that t1~e mortgagor has good right and !aw/ul nufhority fo rnnvey :atd la,~d as oJon-
saic~; f1~a1 t1~e mortpago~ u•i~~ make sucti jurfher assurances !o pr~rct f~e ~ee simple fitjs to said ~and in the
morl~agee as may reasona6ly 6e required: t{~at the mortgagor {~ere6y )ully warranta tl~e tIlle to ,ard b,~d
an~l u~ill de(Pnd the same against the lnw/ul claims o~ all persona whomsoeve~: nnd ttiat said ~and 1s jrts
an~1 clear o~ a~l encumbnances taxes accruing subsequent t0 December 31,1979 .
~~V~~ 'il~W~s~ f{~at i` saicl mwtgngor s~~ pay unto said mortgage~ fhe certntn promis-
sory nofe tieieina(fer su6stantinlly c~opiea or edenti~ied, !o-wit:
MORTGAGE NOTE
$20,000.00
Fort Pierce,Florida
December 17,1980
FOR VALUE RECEIVED the undersigned promises to pay to the
order of KATIE MELTON, CLARA MELTON DODD, MARVIN MELTON and
BEP.LIE O. MELTON, as Trustees of the Katie Melton Irrevocable
Trust dated October 7,1975 or any successor therein designated
the principal sum of Twenty Thousand Oollars together with
interest at the rate of ten (10$)percent per annum from this
date until maturity, both principal and interest being payable
in lawful a+oney of the United States, such principal sum and
interest payable in installments as follows:
120 equal mortthly payments of $264.30 with the first
payment to commence on January 17,1981 and a like sum
on the correspondinq day of each like succeedinq period
thereafter until the entire principal balance-is paid
in full. The raaker of this Note reserves the right of
prepayment in whole or in part at any time without
penalty.
Such installment payments shall be applied first to the interest
accruing under this terms of this note and then to a reduction
of the principal indebtedness. The n~akers and endorseres of this
note further agree to waive demand,notice of nonpayment and
protest, and in the event suit shall be brought for the
collection hereof, or the same has to be collected upon demand
of an attoraey, to pay reasonable attorney's fees for makinq
such collection. Al1 payments hereunder shall bear interest at
the rate of ten percent per annum from maturity until paid. This
note is secured by a awrtgage of even date herewith and is to be
construed and enforced according to the laws'of the State of
Florida; upon default in the payment of principal and/or interest
when due, the whole sum of principal and interest remaining
unpaid shall, at the option of the holders, become imAnediately
due and payable. Failure to exercise this option shall not
constitute a waiver of the right to exercise the same in the event
of subsequent default. '
Payable at:
Sun Bank of St.Lucie County
Passbook Account #0-38993-5
111 Orange~Avenue
; Fazt Pierce, Florida 33450
~L~'~'.~.~r~"=.~ ~ 3 .~- ~' ..~.-ra. . ...; _." .
~ ~ .
~.v /~r~Ll~- {d . ~%~~`~t~z''~r~`~
Waneeta A. Brosius
~~45 P~ Q99