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~ 1'C) iIAVI~ A~1t) '!'C) I]()I.D the samt~, to~;efihe?• ~~~ith the t~iic~ilie~its, ~
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_ ':her~ditaments and aE~purtenances thereuntc~ bela~~ing, ancl the rents and `
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~~is~ues tt~~reof, unto the i~•1oi•.tgagee, its s~iccessors and assi~;ns in fee simple. i
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- ~~,forever, the ~vhole Free from ~11 eYem~~tiot~ and right c~f homestead. ;
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E1nd the said I~•lortgagor, -fflr itself, its s~iccessors ariC~ assi~ns, ' ~
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- _ ~~hereby cavenant with the saicl Niort~agee, its SLICCC'SSOrs and assigns, that the ; ±
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_ ~ '`said Mai•tgagor is indefeasibly seized oF said land-in fee simple; that the said
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- ~~:VIortgagor has-full po~ver and lawful right to conve~~ t[~e same in fee simple
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~,as aforesaid; that it shall Ue la~vful for the said \~lortgagee, its successors and ~
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l~assigns, at all times ~eaceably and quietly to enter upon, hold, occupy and ' :
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: enjoy said land and every part thereof; that the said land and every part
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;;thereof is free from all enctimbrances; that the said i4~Iortgagor, its - i _
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_;'successors ana as~igns, ~vill make such furtrer assurances to perfect the - ~
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~ ~~fee_simple title ~o said iand in said 1ZQ~tgagee, it5 successors and assigns, as ! -
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_ -~~inaj* reasor~ably be rec~uired; and that the said 3~lortgagor does hereby fully ~
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:~~warraiit the title to said land and every part thereof, and :vill defend the sarne ;
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; against the la~vful~ claims of all nersons ~vhomso~ver._ ~
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~ THE F'OI~.EGOING COivVFYANCE is intend~d to be, and is, a _
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_ ~'m~rtgage fo secure the pa~rment of one promissory note of even date for the = _
. _ ~`.sum of 535, 000. Oa, made by the said ASSOCIATED INNS, Il~TC. , payable ro ~
:~fhe order of i~IFE INSURAtiTCE GOI~IPt~~i~C'_OF GE(~RGIA at if:; office tivithin
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. ;'five (5) years after date, ~vith interest from date until paid, at the rate of i-
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~~10-1/2°Jo per annum, paS~able in rnonthl,y installments ~f ~772.10, infereGt ~
. included, Final balance to be paid in the la~± montnly installment ~vhen due, -
: first installment due June 1; 1975, and on the first da~* of each month there-
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- t~ after, last ~ayment due 1~Iarch 1, 1980; this in~ebtednes~ «iay ;.~t b~ prepaid {t
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- in any arnount nor at aiiytime prior to "the third (,3rd) annivei sary date of the ;
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loan. Thereafters the loan may be prepaid only if paid in full, and upon j ;
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payment of a prepa~~menf c~ arge of 6% of ~he arnount prepaid. ; ~
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- ~ The holder may coliect a_'late charge" not to exceed an amount ; -
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equal to four percent (4%? of any installment ~ti~hich is not paid within fifteen ;
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f15) days of the due date thereof, to cover the e~ctra expense involved in.
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handling d~linquent payments. r~~ ; -
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