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To H+ave and to Hotd the s~me. toflether with the kenements,
he~editaments and Appurten~nces thereto belon~tn~, and the rents.
issues and p~ofits thereof, unto the mort~agae, tn fee stmpto.
And the mort~aflor coven~nts w~th tha mortpaflee that the
mortgaQor is tndefeastbiy aetzed of s~td tend tn fee stmpie; that
the mortpa~~or has ~ood rt~ht and tawful authortty to conve~ satd
iand as aforasetd; thet he mortqa~or witt make such further
essurancas to perfect the fee stmpte tttte to satd tend in the
mortgagea as mey rea~onabty be requirad; that the mortpa~or hereby
fuiiy wr~rrants the tt~tte to said tand and wttt defend the same
aga~inst the t~wfut ctatms of att pe~sons whomsoever; and thnt satd
tand ts frea end ctear of ati encumbrances except those taxes accruing
subsequet~t to December 31, 1986,
Provtded A,tways, that if setd mort~agor shatt pay unto .satd
martpapee ths certatn p~antssory ~ote hereinafter substanttatty
copied or tdsnttfsed, to-wit:
MORTGAGE NOTE
~v ~ ~ae~
Marpat e. F~ortde
l1/.000.00
FOR VALUE RECEIVED, the understpned, (Jotnt~y and seve~al~y. if
more than one) Dromiaes to pay to
SOUTH FLORiOA UNtItM17E0 MQRT~iA(iE O~RPORATION , a Florida corporation ~
or order. tn the manner haretnaftar specjffed, the prtnc~pal sum
ELEVEN TNOUSAl~ At~ ND/100 OOLLApS (t11.000•00 )
w~th tnterest fran date at the rate of 10.000 percent, per
ann~n on the bniance from tlme to rematn~np unpatd. The se:d
prtnctp~l and tnterest sha1~ be Oayabte tn Jawfut money of the
United Stntes of Amertca et:
, 1723 EL~+1 AYE.. BROOKL.YN. NY 11230
or at such piece as may hereafter be desiynated by wr~tten notcce
, fran the hotder to the maker hereof. on the date end tn the
menner fotiowfnp:
; s11,00Q.00 PAYABLE AS FOLLOMIS: •
~
In conaecutive montA~y tnsta/iments of t1~5.37. i~cludlnp
~n4erest a! ths rate of 10.00o'X o~ the 1ST day of each month
~ _ beptnn[np JUNE1. f987, such ~ontAly tnatei~p?enta ahait continue
~ unttt the ent~re lndebtedneas evldanced by th~s ~ote ts fuiiy
~ patd. except that any re~atntnp trtdebtednesa. if not aooner patd
sha~t becoafe due and payabte on the 1ST day of MAY. 1997.
~ Thta note may be patd tn psrt or tn fuit nt any ttme wtthout
~ pena~ty.
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~ C°~ '
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~ This note with interest ls secured by a mortpe~e on real eatate.
~ of even date herewtth. made by the asaker hereof tn favo~ of the
~ aatd payee. end shatl be conatrued end enforced accordin~ to the
tawa of the State of Flor~da. The ter~na of aa?d aartyape are by
~ thjs ~eference made a part hereof.
~ if defauit be ~nads in the payment of any Qf the sums ar interest
6 +eentloned herei~ or in said ~ortpape. or in the perfor~a~ce of
~ any of the apreements contatned herein or tn satd ~nort0ape, then
~ tt~e entire princ~pei suw and acerued ?nterest shatt at the opt~on .
of ths holder he~eaf baccme •t once due and coitecttbte wtthout
not[ce. tline betnQ of the essence= and sald prine~pai aua~ and
acerued tnterest shsl~ both bear tnterest f~an such ttme unt~~
patd at the Aiphest rate aleowabls under the State of F~ortda.
Fatture to exerctse thts optton ahatl not constttute a watver of
the ~tpht to exercise the sa+ne ln the evant of any subsequent
defautt.
Each peraon isabte fiereon ¦hether a~aker or endorsar. hereby
watvea presentment. p~oteat. notice, not~ce of p~otest and nottce
af dtshonor and sprees to pay att costa. ~ncludtnp a reaaonabte
attorney's fee. whether sutt be brou~ht or not. tf after a~aturtty
of this note or defautt hereunder, or under satd awrt a e.
_ counsai sha~t be anp~oyed to cot~ect tAis note or to protec~ ~he
securtty of said ~ortpe~e.
Nhbnever usetl he~ein the ter~ns 'hoeder•, 'maker• and 'payee•
sha~~ be construed tn the stnpu~ar or ptura~ as tAe conlext may
reautre or adntt.
ProAer tfoCUnentary stssps ' ` ~ )
have been affixed to the i
mortpape securlnD th~s ~ ~ !7
note. f ~,Q SEAL) ~
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