HomeMy WebLinkAbout0968 ~w~rwr • ~v~...
t 1S ppp pp ~brt pi~roe, 1~1ros~id4 (btobe~r 30, 1987
~ ~ ~~•r~r~~~~ ~ u~~
fOA VALU~ R~CEIVED, tM uncNnt~d. (~oMqY snd awr~!!y. if mcr~ than a?~l promi~ to paY to
Mitd~ell L. Willi~ a~nd Dornn L. WiLli.i~oz~l .
or o~dK. in t!~ m~nn~r Mninafur sp~ciftad;, th~ pNt+cipal wns af Fifteen ~ousatld and Nb/100 Dollars--------
. li 15, 000. 00--- )
With I~tKqt hon~ d~ot at th~ ntt of 10 P~ oa~~ PK ~a+n? o~ tM brl~noo trom timt to tim~ ~tm~tnin~ unp~id. Th~ s~id principal
a~d Inur~st d~sli b~ pay~bi~ in lawtul morny oi th~ Unit~d Stata ot M~rica at :
or ~t wch pl~a a~ m~Y Mn~fqr o~ daiq~aW! by wtitqn notla from ttw holdu to du msktr twrwf, o~ th~ daa ~nd i~ th~ mu~n~r followinp:
~is n~te is payable in ( 5) Flve equal a~rnual instalL~ots of $3956.97
b~qinni.n9 No~vertber.4, an~d oontinuing annually until entir~e p~rinc3.pal ~
aum of $15,OOO.QO toge~wlth aocurea insts~est has been paid in'fvll.
All peymants are to be appli~ed_first to interest at the rate specified harein ' ~
upon the principal sun of 515,000.00, ar so m~ch ther~eof, as may fran tima to time
rec~in uc~aid and ths bA.lanoe of ae?ch payrrent shall be applied to prin~ci.pal.
- ~
~ Notw~thstandin9 ~Y P~$i~ort of this mort9a9e. or the note(s) secured hereby,
to the.oontrary, the inc3abtness ecvid~e~noe by said note(s) shall beoon~ due and
~iaYable sinult~us with any oorneyanoe of the lands encunbered hereby.
~ .
~
Thl: noa with Int~ntt h Ncund by ~ mort~ on ~s~l tsua, of wen d~u hutwith, msd~ by th~ mak~r t?~r:of in t~vo~ of th~
uid p~ya, u~d thall bt cautrwd ~nd ~n4orad ~ordln~ to tM tavw ot th~ Stiu of Flarida The term: of ~id mort9s~e
~n by this r~hr~ m~d~ a put h~wf.
If d~fa~uh b~ ms~s in tM p~yment of tny of th~ wnx or int~nit nwntion~d h~nin or in ~Id mat~qe, or in the perfam~na
of ar?y af th~ apn~nt~ ~ntained htnin or M ytd mortpip~, th~n tM ~ntin principa! sum and s~ued inurat:hsil st ths option of th~
hoW~r h~nof b~conr at a?a dw and coll~dbN wtd~out notiw, ti~eK b~ir~ of th~ ~ssena; snd aid princip~l wm snd accnud inur~st s~S~ll
f both b~~r intKat f~om wch tlrtM untif pald ~t tM hi¢wK raq allowsW~ und~r tiu taws of dw Staa of Flo~Cida Fsilun
E w~x~rdsa thi~ optbn shsii not oonstitut~ a w~ of th~ riqht to ~x~trds~ th~ txn~ in th~ wrtnt qf ~ny wbaqwnt default. .
~ E~ch penon liablt Mnat wh~ttru mak~r or ~ndotar, htrsby wsiv~s prts~~tm~nt~ prot~st, ~otia, notia of pro~est u~d notia
of dishonor and sgnss to pay ali o~su, tndudGnp a n~on~bb ~ttorn~y'~ fw, wh~th~t wit bt btou~ht or not, if. afcer mswrity of this note
or d~f~ult h~nund~~, or undu said mo~tpp~, e~u~sN shalt bt omploy~d to ~olitct this not~ or to prottct tfie st~urity of ssid mort~a.
_ WMrh+er us~d h~n in tta ttM~s 'ho{dH', 'mak~r' u?d 'p~yu' shall b~ con:truad in tht sin9ulu or plunl ss th~ conuxt may
requin or ~dmi~ ~
Y MAKER'S ADORESS ~
~
J J
Y ' , t <
i (1 W -
~ _
AND the mortgagor hereby further covenants and sgrees 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
every nature on said property; to permit~ commit ur suffer no waste~ impairment or deterioration
of said land or the improvements thereon at any time; to keep the buildings now or hereafter oii
said land fully insured in a sum of not less than ita full insurable value, but in no event less than the
amount'secured by this mortgage, in a company or companies acceptable to the mortgagee~ the pol-
icy or policies to be held by, and payable to, said mortgagee, and in the event any sum of money
; becomes payable by yirtue of such insurance the mortgugee shall have the right to receive and ap-
~ ply the same to the indebtedness hereby secured. accounting to the mortgagor for any surplus; to
pay all costs, charges, and expenses, ineluding lawy~r's fees and title searches, reasonaUly incurred
or paid by the mortgagee because of the failure uf the mortgagor to promptl~• and fully compl~
with the agreements, stipulations, conditions and covenants of said note and this mortgage, or
either; in the event the mortgagor- fails to pa~~ ~vhen dae any tax, x~.ses.gment. in4urance premium 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 affecting the oti~tion to foreclose or any other right hereunder. and
all such paymen~g shall bear interest from date thereof at the highest lawful rate then allowed b~•
the laws of the State of Florida.
IF an~• sum of money herein referred to be not promptly paid within 30 days next after
the same becomes due~ or if each and every the agreemen~g. 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 mentioned in said note, and t his 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 contrar~~ notH•ithgtanding. Failure by the mortgagee to exer-
cise ariy of the rights or options herein provicied ~hall n~ft constitute a waiver of any rights or op-
tiona under said note or this mortgage acerued or thereafter accruing.
~ ' 80~K ~~c~ PACE ~6~
_ . , 4,__ . ,
_ - ~