HomeMy WebLinkAbout2583
70 ~~ ~~ TU1~d the same, logether wlth Ih• tenement~, h~-~dttama~ta and oppurf~-
nances IhPreto {~e~ongl~g, an~ f~e nnfs, tssues ancr pm~ilt ihereo~, unto I~e ntortgoese, In 1N simp~.
111~ fl~e mo-Igagw covenanfs wilh Ihe morfpogee I~of Ike morfgagor is indej~,i6ly seized o~ snId
IantJ i~t rPP slmp~p; fhaf I~e mortgagor tiat good ~ight nnd ~awlul authorifr to convs~r sald ~and as aforr-
saI~; f{~af Iha mo~lgagor wlll make •ucl~ (urtl~o~ wsur+anees lo pe~rct the jee sin~pb tt1l~ to satd land tn th~
morf~a9ee as may -easonably 6e requtred; 11~af t-te mo-tgagor hs-e6y /ully warrnnb tk~ fifle Io :atd lw~d
and w111 de%nd t1~e sams agains! fhe Inw/ul clotms o~ all penona wl~onuo~uer; a~d tl~at iatd [and b/ne
and c~ear oj oll encumbronces exCepting taxes subsequent to December 31, 1980.
~l'01~ ~III~S~ e!-~e t/ .atd nwrtgagor ahnU pay ur~to satd nnortgap~e t6e c~rtatn promts-
sory note kerelnaf ter ~ubstantio~~y rnpte~/ or identl~ted. !o-~rit:
MORTGA~iE NOTE
~g__ ~so, ooo. oo____
~
1 / ,, A Q TFloric~a --- ------- '!~._!_~_~f __.~/ ~9~0.
FOR VALUE RECEIVED,~e tmdersigned, ( jointly and severaQy if more than one) promise
to pay to the order of IDWARD GERHARDT
at First Amexican Bank, North Palm Beach, Florida
[he principalsum of SEVEN NUNDRED FIFTY THOUSAND AND NO/100 - - - - - - - - - - - - -
DOLLARS, together with interest thcreon from date hereof , at the
rate of Ttiaelve (12$) per cent per annum unti~ maturity.
Payable as follows:
Interest shall be accrued on then unpaid principal balance and shall be
due and payable in semi-annual installments beginning Six (6) months
from date hereof and thereafter on this day of each ensuing semi-annual
period to maturity hereof when the final installment of interest shall
be due and payable as below provided.
Principal shall be due and payable in Five (5) successive annual install-
ments of $150,000.00 each,"with the first such installment due and payable
One (1) year from date hereof and Three (3) like instalLnents each due and
payable on this date of the next successively ensuing Three (3) calendar
years and a final installment of principal together with then accrued inter-
est due and payable at maturity Five (5) years from date hereofs
~
F
~
~
THIS NOTE IS SECURED BY MOR'PGAGE OF EVEN DATE HEREWITN.
The makers and endorsers of this note further agree to waive demand and notice of
non-payment and protest; and in case suit shall be brought for the collection hereof, or the
same has to be collected upon demand of an attorney, to pay reasonable attorney's fees for
making such coQection; and agree that in the even*_ of default in the payment of any indebted-
ness due hereunder for a pcriod of thirty days the whole of said indebtedness shall thereupon,
at the option of the holder of this note, become immediauly due and payable. Defencd
Twelve
interest payments to bear interest from maturity at saa per cent per annum, payable semi-
annuauy. payee qrants Payor the right and privileqe of prepaya-ent o€.~the indebtedness
hereof in all or part at any time subsequent to Oecember 31st, 1980,~~iith such advance
payments covering then accrued interest and the specified principal so paid credited
to last ensuing annual instalLnents.
-- --- ------------ --------------•---------------- (~1~
so~x34~ P~Gt2~~ .
.
- -- --~ --- - -- ----- ~--------------- ~St31~