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7~ nAYe iLlll~ the sqrM:~.together ~t~t'.1he tenenttntt. he?editament~ and appurte-
nances lhereto be~onging, anc~ the rents, issues anc~ proJlls lhereoj, unfo fhe mo~tgagee. iR (se stmpje. F
,
!he mortgagor cove~nnfs wifti tf~e mortgagee t~at the morlgagor is inde~~tbly reized o~ aakj
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land in Jee.fiimple: that the mortgagor hw good ?ig~t und Iawjul authority to c~onvsy ,~d la,~d as ajw+e-
said; that the mortgagor wt~I malte sucl~ /uNhe~ assur~a~ces to per(ecE t14e jee iimpls ttllt to ~aid land tn th~
mortgagee as may reasonably be required: that the morlgagor l~ereby /ully warrants the title to .otd ia?~d
and wi1l de%nd the same against f1~e Iawjul claiins o/ all persona whomsoever: and that aatd la?~d ts jree
and clear oj aI! encum6nancea
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~V~ ~~s~ that i( satd mortgagor aT?aU poy unto sa~ mortgngee the eertotn promia-
sory note hereinaJter su6st~ttally copie~ or itleatfjied, to-wit: ~
~ Vero Beach, Florida _ Jw1A 1 , 19$4_ No.
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~for value received, the undersigned jointly and severaity promise Yo pay to the order of '
.
,Tpmij_F. NI%ON and BTL.L.TE M NIXON~ h1S wife,
at_11~7 Bavshore Drive, Apt. 103, Fort Pierce, Florida 33449
the sum of Tbirty-Six T'hausand, ~ Three Hundred and no/100------- ~
Dol lars
with interest after dat+e at the rate of _~~ght (8) _
- per cent per ar~num.
Principal and inYeresY shalt be payabte in the following manner:
Znterest, only, shall.be due and payable on July 1, 1984, and on ~
~ the same day of each.succeeding month next thereafter until this
note ahall be paid'in full. ~
The entire principal eum, plus accrued interest, shall be due and
payable on June l, 1994. ~ -
~ The Payees reserve the right to adjust the interest on thfs note
upward oa the anniversary date of this note each year by no more
than one (1).pe~cent per year and no more ~han five (5) percent
over the life of the mortgage securing this note.
Prepayments may be made at ~any times and in any _ amounts without penalty. All payments
shall be applied first to accrued interest and then to principal.
If any paymeni is not made in full when due, _ the entire unpaid principal and accrued interest,
less any unearned interest and any interesY in excess of the maximum ailowed by law and any re-
bates required by iaw, shall at the option of the holder become immediatety due and payable wifh-
out notice_ Failure to exercise the optiori shall not constitute a waiver of the subsequenY right to
exercise it.
Each of us, whether maker, surety, guarantor or indorser, severally waives presentrnent, demand
for payment, protest, notice of protesi and notice of dishanor; ccnsents that this note or any part of
it may, from time io time, be extended or renewed without notice for any period (whether or not
longer than the original period of this note); agrees that the exchange, release, surrender or sale of
all 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 noie shall not release any other such party; and agrees to pay, in
the event of a default, all costs and expenses incurred in the coflection of this note including attomeys'
fees equal to 10 per cent of the principaf sum or such larger amount as may be reasonable and just
and atso those costs, expenses and attomeys' fees incurred in appellate proceedings.
• /s/ John F, Nixon, III '
~ ADDRESS~ ' (SEAL)
Bp~K P1GE -~-hrt . xon,
~ (SEAL) '
~ - ~~s-..~~°:,~i ~'.s:~„~.s:i c~__~=~-n `3-< ~~r...=.~~5?~
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