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~0 ~AUe ~ L~ ~WN~' '~ie,tame, togetAer ~yIth !{ee tenementt, hwoditamenti and appwfe-
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nonces Ihereto be~onging, a~c~ t{~e rents, issues ancr pro~tta thereof. unlo !hs mortgages, tn ~e~ aimp~e.
ihe mor~gago~ couenants witfe the fiorlgogee that the mortgago~ is tnde%asibly aeized o( aaid .
land in jee aimple: tl~at the mortgagor I~as good rigkt and lawjul autltority to con~e~r said land aa afore-
said; f{eat the rreo~tgagor wil~ make suc~ )urther aa~urances to perfvct tke fee simp~e tit~e to'iaid land in tha ~
mo~tgagee as m4y reasona6ly be required; ihat t1?e mortgago~ ktreby /ully wnrranta the tit[e to said Iand "i
arid u~il! dejend fhe same against the law(ul cloinu of alI peraor~s wl~omsoe~er; and tl~at satd Iand is (?ae ~
and clear o~ al! encum6mncea
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~ ~V~~ ~IW~S~ that if aaid morlgagor ahall pay unto aald irtortgagee fhe cerfafn promis-
sory reote ~iereinajter su6stantia~~y c~opie~l or identi(tsc~, to-wit: ,
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31, 800. 00 Vero Beacli, Florida Jtuie 1 , l9 84 No. ;
For value received, the undersigned jointly and severally promise to pay to the order of . ~
' JOHN F. NIXON and BILLI$ M. NIXON, his ~ife,
a~ 1177 Bayshore Drive, Apt.~103, Fort giarce, Florida 33449 _
the sum of Thirty-One Thousand, Eiaht Hundred and no~100------- Dollars
with interest after da~ at the rate of Eight (8) per cent per annum. i
Principal and interest shall be payable in the following manner:
Znterest, rnaly, shall be dus and payable on July l, 198~, and on
the same day of each succeeding month next thereafter until this
not~e shall be paid in full.
The entire principal sum?, plue accrued interest; shall be due aad
payable on June 1, 1994.
The Payees reserve ttLe riqht to adjust the intereet on this nate
upward on tlie anniversary date of this note each year by no more
than one (1) percent per year and no more than five (5) percent
over the life of the mortgage securing this note. .
Prepayments may be made at ar~y times and in any amounts without penalty. Ail payments
shall be apptied first to accrued interest and then to principaf_
If any payment is not made in full when due, the entire unpaid principal and accrued interest, ~
less any unearned interest and any interest in excess of the maximum allowed by law and any re-
bates required by law, shall at the option of the holder become immediately due and payable with-
out notice. Failure to exercise the option shali not constitute a waiver of the subsequent right to
exercise it. -
Each of us, whether maker, surety, guarantor or indorser, severaliy waives presentmeni, demand
for payment, protest, notice of protest and notice of dishonor; ccnsents that this note or any part of
it may, from time to time, be extended ar renewed withoui notice for any period (whether or not
longer than the original period of this note); agrees that the exchange, release, surrender or sale of
atl or any real or personal property or collaTeral that may be given to secure the repayment of this note
shall not release or discharge any party obligated on this note; agrees that the release of any party
liable upon or in respect of this note shall not release any other such party; and agrees to pay, in
the event of a default, all costs and expenses incurred in the collection of this note including attomeys'
fees equal to 10 per cent of the principal sum or such larger amount as may be reasonable and just
and also those costs, expenses. and attomeys' fees incurred in appetiate proceedings.
~ ADD~ESS: /s/ John F. Nixon, III ~SEAL) ~
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~P~~ Jo~in F.~fiQxon, Z I •
- (SEAL) .
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- . _ . . . , . • ` ~:;r-e~ _a f~..,,,~."K ey"~ay""^``i'-'~L`r'"'~ ~ ~ ~ k: ~
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