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~ ~o ~iAVe nnd to ~iotd !he same, t ether witl~ the tenemenfs. 1-eredilamenl: and a u-te-
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nanres 1{~erefo I~plonginp, an~J II~e renfs. tssues anc~ pro~ifs Ihereo~, unto t1~e mortgages, in ~ee timplp.
ILI~{l the morfgogo~ rnvenants wtlh the mortgages Ihu! tl~s mortgagor is indel~,~bly setzed oJ satd
~an~ in fee simp~e; Ihaf the morfgagor ~as good rig~f and ~awlu~ authorifr fo rn~vey satd land ai ajoro-
saic~: f{~af Ihe mortgagor will make suclt /urlhe~ assurancei to perjecf f{~e fss tlmple t1tle fo salcl Innd in the
mortgagee as may reasonabty be requtrecl: thnt the mortgago~ hero6y Jully wan~anta ths fttle to :a~d b~d
anc! u~ill de%~d tl~e same agoinst the law(ul claims o/ nl! penona whomsoevsr; nnd thnt :atd l~d t~ Jre~
and clear oJ al! encum6rances exeept that eertain first mortgage in favor Of
George A. Zarekas and Marjorie A. Zarekas. his wife~ dated July 1.
19?? and recorded at O.R. Book 270. Page 1?79, St. Lucie County,
Florida Public Records.
AND the mortgagor further covenants with the mortgagee that
the above described first mortgage is in good standing and not in
default. In the event of a default under that mortgage, the mort-
gagee of this instant mortgage may declare, at mortgagee•s option,
said default of that first mortgage to be a default of this instant
second mortgage. Mortgagee may~ at his optio~~ cure any default
on that first mortgage and all costs and expenses~ including attor-
neys fees. incurred by mortgagee because of said default by the
mortgagor shall be paid by the mortgagor.
- ~rouided ~tways~ fhat if said mortgngor sl~all pay unto said morteagee the cerlatn prom4-
sory note ~ereina~ler su6stantinlly copiecl or ic~enti~ied. to-wlf:
$20,000.00
PRODdISSORY NOTE _
A:arch 1?, 1981
Palm City, FL
FOR YALUE REC-~"! YSD. ~he undersi~ed p~*omises to paY
to the order of RUDI KRO(~G81,. the aum of Twenty Thousand and
no/100 Dollare ($20,000.00) at 3?2 Ardeley Drivs, Port St. Luoie,
Florida 33452. or auah other plaae as the holdsr herso~ may
de8i~ate in rvriting, together with intere8t trom the date oS
this note at the rate ot ei~teen peroent (189C) per annwa on
the ~paid balance until maturity. The said prinaipal and
interest ahall be due and p~yable as followe,
Payments oi interest only payable monthly. on the
1?th day ot each month, w~th the first payment in
an amount or ~z25.00 due on April 1?. 1981 an~d eaah
monthly payment thereatter in an amount ot $300.00
with the laet of suoh 300.00 p~,yment due on the
1?th of 1~arah. 1983. ~The first month•s payment ia
less because of only halY oS tha loan being advanced
on the date hereof and the other half being advanoed
as o! April 3. 1981).
The entire principal balance ahall be due and payable
two (2) years from the date hersof, namely l[arch 1?. 1983.
`rhis note ms~y be prepaid in full or !n part at any
time and from time to time without penalty.
IF D~FAIJLT be made for ten (10) daya in the payment of
any in,stallment ot' principal or interest or any part thereof, the
whole sum then rema.ining unpaid, Nith interest, 9hall. at holder's
option, beoome due a»d payable without notice. Failure to exer-
ciae such option shall not constitute a waiver of the right to
exeraise the same in the evsnt of subaequent deYault. Atter
maturity, both rinaipal and acarued intereat shall bear interest
at eighteen (18~ peroent per annua- until paid. If this Note is
not paid at maturity and the same ie plaaed with an attorney for
collection, the makere hereot agre• to pay all Qoata ot' aolleotion,
inoluding all court costs and reasonable attorney'e fees.
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WI3d . WR
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~+~t 5U Pw~2862 /~.~,-t. , `~'I ~, , ;~~1~ . _
AIIITA M. WOR1H #
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