HomeMy WebLinkAbout0877'IO SECURE THE PAYMENT of said promissory note, executed and issued this date by
the mortgagors to the order of the mortgagee a copy of~Which is as follows:
P~MIS90RY NO-IE
~85,000.00
Anchorage, Alaska
Dated s Jarwaty ~~, 1981
We jointly and severally promise t,~ pay to the order of Industrial Trust & Savings
Baan,: as (~uardian of the estates of John N~bert Higi, Marc.vs Ti~rothy Higi, Sarah Jane Nigi and
~~arilyn Rachael Higi, minors, the sum of Eighty-five thousand dollars (S85,OQ0.00) with
interest thereon at the rate of ~t,relve percent (12$) per annum aor~uted upon the monthly
declining unpaid principal balance thereof as hereinafter p~ravided and with attorney's fees.
Fbr value reveived and without relief whatever fran valuation or appraisement .1aws. Zt~e
drawers and endorsers severally waive presentment for payment, protest and notice of protest
and nor~payment of this note.
The principal sum of this rote and interest thereon shall be paid in oonsecutive imnthly
installments of rbt less than Nine hundred thirty-six cbllars ($936.00), vam~encir~g One (1)
montt~ from the date l~ereof and aontinuing for a period of Zhn (10) years thereafter, at which
time the entire unpaid principal balance of said note and interest thereon shall beoortie due and
payable.
Negotiable and payable at the office of Industrial Trust & Savings Bank, Walnut Plaza,
~luncie, Indiana, 47305.
t)pori the failure or refusal to pay any ~ronthly installm~ent provided for herein for a
period of Sixty (60) days after the sam~e shall have beoome due, the entire, ~paid balance o~
th is r~ote, t~ogether with all interest acctved thereon, shall be due arcl payable in One (1) sum.
Additional payments ~on the principal of this r~te as well as the entire unpaid balanc~e
thereof may be paid at any time and fran time t,~ time.
EXECUPED this ~3 day of. JanuaYy, 1981.
S/John R. Chewning
(John R. (hewning)
S/Milan Chewning
(Milan d~eMming)
AND the mortgagur hereby further covenants und agrees tu pa~• promptly when due the prin-
cipal and interest and uttier sums of mo~ie~• provicled fur ii- said note and this mortgage, or either;
to pa~• all and singular the taxes, assessmen~s, levi~,, IiaLilities, obligations and encumbrances of
every ndture on said pruperty; to permit, commit or sufter no ~-~aste, impairment or deterioration
of said land or the improvements thereon at an~• timc: tu keep the buildings now or hereafter on
~aid land fully insured in a sum of not less than its full insurable ~•alue. but in no event leas than the
amount secured by this mortgage~ in a company or companies acceptaule to the mortgagee. the pol-
ic~• or policies tu be held by, and payable to, said murtgagee. and in the event any sum of mone~•
becomes pa~•able b~• virtue af such insurance the mortgagee shall ha~•e the right to recei~e and ap-
ply the same to the indebtedness hereL~• secured, accounting to the mortgagor for an~ surplus; to
pay ai{ costs, charges, and expenses. including la~r~•er'ti fees and title searches, reasonabl~ incurred
or paid by the mortgagee because of the failure uf the mortgagor to promptl~• and [ull~• comply
with the agreements. stipulations, conditions and co~•enant~ of said note and this mortgage. or
either; in the e~ent the mortgagor fxils to pa~- ~~•h~~n c~ue an~• tax, .~~.~e~.~ment, insurance premium or
other sum of mone~~ pa~•able by virtue of saici note and this mortgage, or either, the mortgagee ma~
pay the same, without ~~~aiving or affecting the o~~tic,n to foreclose or an~• other right hereunder, and
all such pa~men~4 shall bear interest from date th~•reof at the highest lanful rate then allowed b~-
the laws of the State of Florida.
IF an~• :cum of money herein referred to be n~t promptl}• paid within days next after
the same becomes due, or if each and ever~ the agreements, stipulations, conditions and covenants
of said note and this mortgage, or either, are not full~• performed. complied ~+ith and abided b~,
then the entire sum mentioned in said note, and t hi~ mortgage, or the entire balance unpaid there-
on, shall forth~~•ith or thereafter, at the option of t he mortgagee, become and be due and pa~•able,
anything in said note or herein to the contrar~• not~~•ithstandinR. Failore I,r the mortgagee to exer-
cise any of the rights or options herein providecl ~hxll n~t constitute a«•aiver of any rights or op-
tions under said note or this mortgage accrued nr thereafter accruing.
6~( J~O PAGf ~ ~ I
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