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' To H~ve and to Hotd the s~me. toflether wtth the tenements~ ~ i
heredttamenta and eppurtenances kheretc betonpin~. and the rents,
tssues and proftts thereof, unto the mort~a~ee, tn fee• stmple.
And the mortpepor covenants wtth the mortflagee that the
mort~~~or is tndefeastbty aeized of satd tand in fee aimpie; that
the mort~e~or haa ~ood rt ht And tawfut authortty to convey said
tand es aforesetd; thet ~he mortpa~or wiii make such further
assurances to perfect the foe aimpte titte to said iand tn the
mort~a~ee ns may reasont?bty be requtred; that the mort~e~or hereby
futty warrants the ttt~e to satd. tand and wi~t defend the same
a~atnst the iawful claims of a11 persons whomsoever; and that setd
tand ts free and ctear of ati encumbrancesexcept those taxes accruing
subsequent~to December 31, 1986.
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P~ovided Atways, that tf said mortgagor shatt pay unto s~id
uno~tpapee the ce~tsin pranisso~y note heretnafter substanttatty
copisd or identifted, to-wtt:
~ MORTGAGE NOTE
~ ~ea~
BrookTyn. New York
=8,160.00
FOR VALUE RECEIVED, the undersl~ned. (Jojntly and severat~y. if
more than one) promtses to pay to
SOUTH FLOR I OA UPIL I ld I TED f+qRT(iA(iE CORPORAT ION , a Florida Corporation
or order. tn the n~anne~ here~nafter spectfied. the prtncipal aum
N 1 NE THOIiSAt~ ONE Hl1f~RE0 F 1 FT1f AND NO/ 100 DOLIARS (=8. 160.00 )
wtth lnter~st from date at the rnte of tO.Q00 percent. per
ann~n on the bstsnce from ttme to remein~np unpa~d. The said
prtnclpat and tnterest ah~t~ ba payab~e [n ~awfut money of the
Untted Statea of America et:
1723 EW AVE.. BROOKIYN. NEM YORK 1t230
~ or at auch piace na msy hereafter be destpnated by writtan nottce
~ f~om the hotder to the me?ker hereof. on the dnte a~d tn the
manner fotlowtnp:
~ i9.150.00 PA1fABLE AS FOLLOMIS: .
In consecuttve awnthty lnsta~iments of st20.92. tncludtnp
interest at the rate of 10.000x on ths 1ST day of each ~nonth
bep 1nn~np JUNE 1987. such monthty tnstattn~ents shatt conttnue
' untt~ the entire [ndebtedneas ev~denced by thta note !s futiy
patd. except that eny rematntnp ~ntiebtedness. tf not soo~er patd
shat~ become due and payabte on tAe 1ST dey of MAY. 1997.
Thts note may be patd tn part o tn fult at any ttme withoui
~ penalty.
Thts ~ote wtth tntereat ts s red by a mortpa~e cn reat estate.
of even date herewith. e~ade by the maker hereof tn favor of the
satd payee. and shati ba construed and enforced acco~~tnp to the
iaws of the State of Flor[da. The terns of aafd mort~ape are by
this reference made a part hereof.
If defautt be a~ade tn the paya~ent of any of,the auo~s or interest
a~ent~oned heretn or tn satd mort epe. or tn the perfonnance of
any of tha ap~eanents contained ~eretn or In sstd ~aort a~e, then
the entlre prtnc~Dal sun and accrued tnterest shalt at ~he optton
oi the hotder hereof becane at once due and cottectlb/e wtthout
nottce. tia~e belnp of the essencet and satd prlnclpai sun and
acarued interest shali both bear lnterest fram such tinre untt~
patd at the htphest rats aitowabie unde~ the State of Fiortda.
Fatture to exerctse thts optlon shalt not constttute a waiver of
the rt~ht to exerctse the ssa+e ln the event af any aubsequent ~
defautt.
Each person ~tabte hereon whether iaaker or endorser. hereby
wa~ves present~nent, protest. nottce. nottce of protest and nottce
of d~shonor and aprees to pay al1 coats. inc?udlnp a reasonabie
attorney's fee, whether sutt be broupht or not. tf after maturtty
of thts note or dsfeult hereunder, or under satd mortps0e.
counssi shail be anpioyed to co~iect thls note or to protect the ~
securlty cf sa~d oart~ape. ~
Mhenever used herein the terms 'hoider•. 'maker• and 'Dayee' ~
shsil be construed ~n the stnpular or ptura~ as the context a~ay ~
~equfrs or admtt.
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Proper docunentary atampa ~~~~iGl~y~i~ ~fa t) ^ . I
have been afflxed to the II i" y~~
mortpape aecurtnp tn~s ~ L
note.
(SEAL)
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