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~o ~l~ue and to ~lold I~u~ sunu~. bqe~f~~t~r u~it~i tE~[• tenemenls. jierec~ifumenfs nn~~ apptut~ ,
nruu rs I~~~~refi~ ~u~~anginq, a~u~ Ific~ re~nts, i~sues anr~ pro~ils t~iere~oj. unto f~ie mortyu,yee. in Je~ simp~e. ~
~nd ff~e mortqnqor ~~ort~nunts u~il{~ f'~~~ morfqagec> 1{int tE~e ntortgnyor is inc~efeasiE~~y st~izec~ o~ saic~
~nn~l in ~i~e simp~t~: t~~nt t~ie morfqa~or {?as goo~~ ri{~E~t an~~ ~aw~u~ aul{iorily to convey snic~ ~anc{ as a~ore- j
said; thal tlie mortguqor u~ill ma~e such Jurflier assurances to perJPC~ IhP f ee simple title to said Innd in the
?nurtya<1~'~' as may rc•asunaf~~y he requirecl: Ihat t{~e morfgngor herehy ~u~~y u>arrnnts the tit~e to saicl ~ant~ i
ar~~i u~i« c1E~~t~n~l the same ngainst !{ie law~u~ c~aims o( a~~ penons u~homsoever; nncl that saic~ ~an~ is (ree ;
a?~d ~~lrar ~,J ~l( t~~~~~~~?.~brance: except for ad valorum real property taxes i
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for the year 1984 and subsequent years. ;
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~ rouided ~Iwa s, thUt if ~aid mortgagor shall pay unto said mortgagee the rertain promis- ~
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sory note hereinajter sub~tnRnall.~ copiec~ or ic~entiJiec~, to-wit: ~
~ 46, ~00. QO Fort Pierce~ Florida SePtanber ~.-~j 19 g4 i
FOR VALUE REC~IVED, the undersigned, jointiy and severally, promise to pay to the order of
;~?HN L~1~'ER ~ANL
Fbrty-Six Tt~usand Four Hundred And No/100----- -~-------DOLLARS,
at ~ute l, Belews Creek, North Carolina 27009 or such other 'place as
the holder hereof may designate in wriiing, together with interest from date at the rate of 11. Q~
per c.entum per annum on the unpaid balance until maturity. Tlie said principal and interest'shall be
due and payable ~~o~-~= By the payment of $7,670.16 on principal and interest
annually upon the i2 ~o day of Septanbe.r of each year, through and including the
2~o day of Septanber, 1994, ug~cui which date the entire r~naining unp~aid principal
; balance and accrued interest shall be due and payable.
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i Makers shall have the right of prepayment, in whole or in part, without penalty, at any
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If default be made for 3Q days in the payment of any installment of principal or interest or
- any part thereof, the whole sum then remaining unpaid with interest shall at holder's option become
due and payable without notice. Failure to exercise such option shall not constitute a waiver of the
; right to exercise the same in the event of subsequent default. After maturity both principal a,nd accur-
~ ed interesi shall bear interest at 11~ per centum per annum until paid. The makers and endorsers
of this note further waive demand, notice of nan-payment and protest. If this note is not paid at matur-
~ ity and the same is placed with an attorney for collection, the makers and endorsers hereof agree to pay
~ a11 c~sts of callection, including all court costs and reasonable attorney fees.
~ /s/ DUANE R. MERRII'I' 8(lDK ~~(;E 3 /s/ ID4+lIN S. NSERRITT (SEAL)
~ ~444 ~1
~ ~ E~WIN S• ~RI`IT (SEAL)
DLIA~~ R. r~_r_r_r
~/J~.S N~2RI`IT b_y IDW1N S. NSERR~IT /s/~IAI~II~ W. NIERRITT (SEAL)
JA~~1ES A. NSERRITT by FDiWIN S. I~2RTZT DIAh'NE W. NIERRTIT _(SEAL)
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