HomeMy WebLinkAbout0216'1'll I S I S A IiALL00N NO'I'Ii
: 2QO , QOO . .Q0 _.. . _. srvARr. Florida. ~.A.Z~~ .~. ~ :S, ~s$1 .
FOR VlILUE RECEIVED. ihe undersigned. jui~tly and se~erally. PROMISE TO PAY !o the order o!
JOE A. ADM1S ancl Tf~1tIANNL: 1~1)MiS . ......_ ... _.
'I'iti'0 FIUNDRED TtiOUSANll ANU NU/l0U (~20~,000.00~----------------------'-' DOLL~RS.
_
~t _ _ _ . . . .... .. .. . . ... _. _ . or such other placs ~s the holder
0
Aereot may designate in writing, togefher with interesl irom dale at ihe rate ot 11 a per centum per ennum on the unpaid
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Over a ten (10) year periocl payable in equal, semi-anntial installments
of $12,46~1.07 eacli, heginning six (61 months after date and continuing
semi-annually thereafter until riarch 17, 1991, whereupon this note shall
halloon and the sum of $143,950.35, representing the balance of princi-
, pal and interest then di~e, shall be paid in full.
. ~ .
This note may be prepaid at any timc ~.ithout penalty
11 de/a~~lt ba made ler ~ ~ dar• ~n IAr payment ol ~ny in~1~1{menl ol princip~l ur ~nte-e~t nr anr p~rl thterol, thc vr!~ole •um tAeo r~ma~nie~
unpaid ~it6 mtere+t •Aall ~t Aolder'~ opUOn lecome dur and p~yable ~Hhoul nuta~. FaJwe to ea~rci+e +wA opt~o~ +Adl not cun~tdult~ A~ai~er ol Ihe
ri~At lo e~erci.e ~I~e ~~ne ip t6e t~tnt o/ •.ib~eque~t d~laull. Alt~r malurity F.Mh P~~ncipal aod~.~avurd ml.~ral ah.Jl A. ,. ml~rr~l at ~ G prr t~nlum
yrr aonum until p~id. The makc~a •nd endors~~~ ol th~• nut~ lurther r~~r~ drn.and, nolice ol~,n..n-paYmrnt and7 -prut~el. 11 th~s notr i+ not paid •1
m~tuntY +nd lAt s~me ia Placed ~dh ae atlorae~ lor cntlecl~on, t6e m~er e~dorstr~ hereu(~pe~ tn p~ aIllcOSh of colieci~un, malud~n~ afl cuurl
cosl• and re~wnable ~~loawry lee~. ~ ~
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and shall duly, promptly and fully perform, d~schar~;e.•execut~, effe~-t, cumnletr, ~romply w~th and abide Dy each
and every the st~pufations, agreemrnts, cundd~u~~s and covenanLs ut vaid {~r.~in~~a~~ry note and of ttua mortgage,
then th~s mortgage and Lhe estate hereby created shall cease and t~e nu31 ~~u t•ouL
It ~s understood that each of the w•ord:~. "note." "martRagor" xnd "mort~n~;ee" respecti~•ely and the pron-
ouns referring thereto, v~•hether in the sin~ular or plural any~•hPre in thts mortgage, shall be singular )t one oNy
and sha~l be plural jointl~• and sevArall~•, ~[ moze than one, xnd ah:i11 bc tna.v~uline, temin~ne and or neater, v~her-
e~•rr Lhe context so impl-es or admits. . •
And said biortgagor for himself and his he,rs, legal representati~•es, vuccessors and as9i~, hereby coven-
ant~ ana agrees to and with said 1ltortgagee, h~s 1eg11 represeataLves, succ~:~9ors and assigns:
1. To pay all and singular the princ~pal and intereat and the vanou5 and sur-dry sums of money payable by
virtue of said prom~ssory note, and Uua rnortgage, each and every, promptly on the days respectively the same
severally become due. _
2. To pay all and sinRular the t:uces, asses~m~nts, le~•~es, liabil~tie~, obli~ations xnd incumbra~ce~ of e~•ery
nature aqd kind now np said descnbe~d property, arni or that her~aftc:r :nay be imposed, auffered, placed, le~•ied
or a:sessed thereupon; and.'or that hrreafter m:s~• br 1~•~~ied or ass~~sacd upun this mortgage and ar [he ~ndebted-
ness secured hereby, esch and e~•ert•, w•hen due anA ~~ayable arcordin~ to law, bPtore they become delinquent,
and before an~ interest attaches or any penalty iv incurn•d; and ~n go (ar as xnp therFOt is ot record the same
shall be promptly satisfied and d~schar~rd of rNCOrd and the onK~nal off~c~al ~1~icument Isu~~h as, for i~istance.
the tax receipt er ihe sai~sfa~t:on parer offi~i;tl:y en~fora~d or certifi~d- shall be placed in the hands of "sa~d
11ortRagee t~~thin ten days n~xt after ~ayment: nnd ~n the e~~enl that an~~ thereof is not so paid: satisf~ed and
di~charged, said rtortRagee may at any time pay thP s:-me or any F~ar-_ therr~f H•ithout a•ai~-ing or affecting
anp opt~An, licn, equ!~y or r~Rht und.~r ur b}• ~•~rt~ir of th;s m~rt~;aR~~, au:d the full amount of each and e~•ery
surh pa}•ment shall bc immediatrly dc~e an~! ~~a}•:~h;~ :in,i sh:ill bear intcres; froni the dxte thereof uniil paid
at the rate of i~n per centurn rer annum xnd t~~~;••;h~r µzth su~h ~nterest shall be secured bV the l~en of thia
mort~age. ~ .
3. To place and continuously ke~p on the bu:Id~n::s now or hereafter sltuate on said land fire a,~d windstorno
insurance ~n the u~ual standar~i policy f~rm, in a:--um n~t less thxn s hi_ghest_ i syrabl~_, ~n such com-
pany or comp- a;rs as ma~• bc apprc~~'r~3 bt• saa~l ~i~,r!;;a;r~~e: am1 all vui~h insuranc~~~i~~s on any of said build-
.T+65. .°.I;! .^i:~:aS~ :::i:i:.'. vi j.nii iiic'icvi. iTi ii~F .-i;,;~TP~.-iic aii~Ti ni'vr~~niv vi ii~ cXCc35 uicir6i. 8i.oii Cv.:ani.: i::6
usual s.andar.f mnrt~A~,PP ~Iause makin~ the I~~~s urd~~r 4tid policies, ea~•h an~! every, pnyable to said I-t~rtga-
gee a~ his inieres: ma~• appear, ami ~ach :~^d ~~~~~:y s:i~ h pn;~cy ahali be prompth~ de?i~•ered to and held by sa~d
~iort~a~ee: and, r.nt le~s than ten davs in a~i:anre nf the ~xpirah~n of each pol:cy, to deliver to said biort~a~ee
a renP:val thereof, to~ether ~~•ith a rere~pi fnr thP prPrni~im nf anrh r~n~wal: and thPre shall be no such insur-
an~~ placed on any of said buil,lin~;!+. any ~nt~•rest th~re,~n nr ~art ther~of, unle_+s in the form and with the Inse
payable as atoresaul: an~1 in the e:~nt any sum of m~~ney bFCames payablr under snch pollcy or policiea sa~d
Mortka~ee shall ha~•e the opti~~n to fe'CPl\'P and :tFpfy the sam~ nn acrount ot the indebtednes~ secured hereby or
to pPrmit said ~tort~a~c,r to r~~ci~•P and u~e it or any Part thercof f~r other purposes without thereby waiving
or impairin~ any equity, lien or,Tifiht under ~t by ~•irtue of this mortga~e: and in the e~•ent said MortRaKor shall
for nnv r~as~s f~il t~ keFp the said pr•~nS~4~~, sn in~ur~A, nr tail to deliver prompUy an~ ot said policies of
insiirance to sa~d 1t~rt~aR~e, or fail promptlv to p.~y (nlly :tny premi~im taeref~r, or in any re~pect fail lo per-
torm. dischar~e, execute. Fffec[, complPtP, cumrly ~ti~th and abi~le by this co~•enant, or any part hereof, said ~lortg-
aRer may plac~ anc'. pay for such inat~rance or stny par[ thPrenf withnut w•aiving or atfectin~ any opts~n. l~Pn,
equ~ty or riQht under or by virtue of th~s mort~a~~. an~l thi~ full :-q~ount of each and every such payment shaU
be immediately due and pa~•able and shall b~er ~n-~re~t fmm the date ther~o[ unttl paid at the rate of ten per
centum per annum and toRether with such tnterest ~hnll be Aecured by the lien ot thfa morigaRe.
~. To permlt, commit or ~uf[er no «•aate, ~mp:irment or detertoration ot ~afd property or ar.y part thereof.
b. To pay all and sin~ular the co9ts, charRe~ and exprnses, including reasonaDle l~wyer'a teea and cost of
nbstracts of tit}e, lncurred or paid at any time by safd Mortgagee because andior tn the event of the fallure
on the part of the said MortRa~or to duly, promptly and fully peKorm, dlschar~e, execute, etfect, complete,
wmply w~ith and ablde by each and evPry the sUpulations, agteement~, condiUon~ and covenante of sald promis-
sory note, and Ni~ mort~aRe, any or Pither, wnd said costs, charge9 snd expennes, each and every, ahnll be Im-
mediately due and pnyable, whether or not there be nut~ce, d~mnnd, attempt to collect or ault pendin~: and the
ltill amount ot each and every ~uch pavment shall bear intereat trom the date thereof unttl paid at the rate o!
ten per centum per aruium; and all eafd co~ta, chargee and eapenae~ so tncurred or paid. together a~th euch tn-
tereat, shall be eecured by the llen ot ttd~ mortgage. ,
aR~~35~ P~cf ~5