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HomeMy WebLinkAbout0949 t.tORTGAGE NOTE t s ~ AliAOUNT IOCATIOH ` DA?E ~ k s 16~'~~ ~0 xnrr Pisarrn~ r.io~~~~, December ?7. 148~ FOR VALUE RECEIVEO, the undersipned, (joindy ~~d uv~rally, if more than one) promisas to pay to James Dowd ~ or ordar, i~ the mann~r htrein~her specified, the principal wm of Sixteen thousand four hundred thirty two dollars and no/loo-------------~: 16,432.00 ~ ~ .Vith interest f~om date st th~ r~t~ of 11. 00 Pef P~r ~nnum on tht balance from time to time rem~inin~ unp,id. Th~ tsid principal an~ into~est shNl be p~yable in Is.wful monay o! m~ Unit~d Stat~: of Amtrica at or at wch place u may hereafte~ ba desipnaced by written notiee from the holdor to the maker hereof, on the dau ~nd in tM m~nner followin~: E . This note is payable as follows: a Beginning January 27, 1986 the sum of $186.77 and the same amount on the same day in each month in each year thereafter until the entire principal sum together with accrued interes[ has been paid in full. ; All payments are to be applied first to interest at the rate specified herein upon the principal ~ sum of $16432.00 or so much thereof as may frOm time to time remain unpaid and the balance of ~ each payment shall be applied to principal. ~ . , t~ ~ . ~ t !i t ~ Thi: note with interest is secured by a mortgapa on ral est,te, of eve~ date herawith, mad~ by tha maksr hereof in fsvor of the said payee, and sh~ll be consuued and enforced accordin~ to the I~ws of th~ State of Florida The term: of said mortpape are by this refere~ce made a part heteof. If default De made in the psyment of any of the wms or interest mentioned herein or in said mortga~e, or in the porformar?c~ af any of the a4reemenu contained herein or in said mort~a9e, then the entire principal sum and accrued interest shall at the optio~ of the holder hereof become at once due and collectible without notic~, timo bein9 of the essence; and said princip~l sum and aocrued interest shall b~th bear interest from wch time until paid at the highest nte allow~ble under the I~ws of the SUte of Florida Fsilure to exercise this optio~ sh~ll not constituu s waiver of th~ ri~ht to extrcise the same in the evont of ~ny wbsequ~nt defsult. Ead~ perwn lisble hereon wheth~r m~ker or endorur, hereby w~ives prosentment, protest, notice, notic~ of p?otest and notia of clishonor ~nd a9rees to pay all cosu, includiny a reasonabl~ ~ttorney's fes, whether suit be brou9ht or not, if, after maturity of this note or default hersunder, or under said mortpa~e, counsel shall be employed to collect this note or to prouct the security of said mo~t~e. Whsrever used hers in the terms 'hotder', 'maker' and 'payas' shall be construed in the sin~ular or plural as the cont~xt m,y require or admit ~ ~7 MAKER'S ADDRESS /'`s j~^ ZG ' ~ A1~ID the mortgagor hereby ur`~ber covenan~s sed a~rees to pay promptly when due the prin- cipal and interest and other sums of money provided for in said note and this mortgage, or either; : ~ to pay all and singular the taxes, assessments~ levies, liabilities, obligations and encumbrances of ` i every nature on said property; to permit, commit or suffer no waste, impairment or deterioration ~ ` of said land or the improvements thereon at any time ; to keep the buildings now or hereafter ou € f said land fully ?nsnred in a su~ of not less than its full insurable value, but in no event less than the ~ amount secured by this mortgage, in a company or companiea acceptable to the mortgagee, the pol- ~ icy or policiea to be held by, and payable to, said mortgagee. and in the event any sum of money ° becumes payable by virtue of sueh inaurance the mortgagee shall have the right to receive and ap- ~ ply the same to the indebtednesa hereby secured~ accounting to the mortgagor for any surplus; to pay all coats, charges, and expenses, including lawyer's fees and title searches~ reasonably incurred or paid by the mortgagee because of the failure of the mortgagor to promptly and fully comply with the agreements, stipulations, conditions and covenants of said note and this mortgage, or ~ either; in the event the mortgagor fails to pay whan due any tax, assessment, insurance gremium or other sum of money payable by virtue of said note and this mortgage, or either, the mortgagee may pay the same, without waiving or afiecting the option to foreclose or any other right hereunder, and all such payments shall bear interest from date thereof at the highest lawful rate then allowed by ~ the Iaws of the State of Florida. ~ IF any sum of money herein referred to be not promptly paid within 15 days neat after ~ the same becomes due, or if each and every the agreements, stipulations, conditions and covenants ~ of said note and this mortgage, or either, are not fully performed, complied with and abided by, ~ then the entire sum msntioned in said note, and this mortgage~ or the entire balance unpaid there- on, shall forthwith or thereafter, at the option of the mortgagee, become and be due and payable, ~ anything in said note or herein to the contrary notwithstanding. Failure by the mortgagee to exer- cise anv of the rights or options herein provided ~ hall not constitute a waiver of any righta or op- ~ tions under said note or this mortgage accrued or thereafter accruing. ~ _ ~ ! , , ~ ~ " ~ r,~ j ~ . $o~ ~8~ y~9 ~ _ .~._..~a~~ . _ ~ . ~ ~ . . . - - - -----1__