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~o ~iaue and to ~lotd t~e same. toyether with the tenements. {?erec~itamentt and appurte-
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?:ances t{~ereto hP~on~in,q, anc{ the rents, iasues and profils thereof, unto t~e mortgagee, i~ jee aimple•
Ij tl?e mortc~ngor covenants u:eth !he mortgag¢e that the mortgngor is inde(ensi6ly seized o~ snid I
j; land in Jee simple; that the mortgagon c~u good right nnd law(ul autho~ity to convey said Innd as aJore-
said; thaf the morlgaflor wi~~ make such f urther assurancei to per~pct the ~ee simple title to saicl land in the
li mortf~nc~ee as may reasona6ly be requirec~: that the mortgagor here6y /ully warrants the title to saicl ~anc~
ii and ~nill de/end Ihe same against the lawf ul claims o) all persons w1?omsoe~er; and that ~aid Iand 'w /ree
~I nnc~ c~ear oj a~~ encumbrances except real estate ta?Ce3 aceruing subsequent to
December 31, 1989, and that Mortgage fran Randall L. McClelland, a married adult,
~ to R.iverside National Bank of Florida, dated 6/23/$9, in the principal amount
of $29,000.00, and recorded 6/29i89 in 0. R. Book 643, Page 1873, of the Public
Records of St.Lucie County, Florida.
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~rQV~ ~~s~ thnt if said mortgagur s{w« pay unto said mortgag~e tke certain promiu-
^ ~I sory note {~ereinnf ter ~ubatantially copie~ or identijfed, to-wit:
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~YF'S~ 1"!~1~.i~~L`~!"~~1i:~!'~~.f.~E''~ ~L L'i .t~r~~~C'^i~ ?,~rCJ?~.~+C1~;'~r.~+C~.~+t t'tir`~7a~.'~~'~+V~~:'~ .
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50 000.00 ~tt?~~. ~~.__~1~7.~...-------.. Florida,...:7arn~arY...----•---------------- t9._.9Q. -
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~i ~ ~Or ~2Il1iP ~~ffPtlJP~t the undersigned jointly and severally promiscs fo pay to the ordst ~
01....PA+~2U.AI~F.Sz~~~I,~SGQ_...-•---•
11 . Fift Thousand and 00 100--- 50 000.00
tik' Dollars (5..------t._..-•------...-- .a
the prinapal sum of._ r
~ foyefher with interest thereon (rom dafe at fhe rate of,.._t~..~.~-Q~~. _._..per cent. per annum until maturity, ~
~ See below j~
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said inte~est bein9 payable monthly on the ..................................day of each and every month both p~incipsl ~
' and interest being payable in {awfu{ money of the United States at_..~1__Ca~bell_ Road~__Fort._Pieroe,
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i i` Florida 34982 .....................Florida. ~
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; i'.~. or at sucfi other ptace as the fiotder hereof may designate in writing. Principal and interesl payable in install- ~
~ i; ments of __Four_ Hundred Ei~ht~r 1~,io anci 52~i^^ Dollars, (S-4$~_•~z-------) t;~
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i x each on the. day of each and every month, beyi~nmg on the ___._....___..__..day of.__..._...._....____....__., r
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~ 19....____, and continuing until said principal and interest have been paid. Each installment payment shajl be
` credited first on the interest then due; and.the remainder on principal; and interest shall thereupon cease upon
f l~. the principal so credited. ~
~ Payments shall corm~ence thirty (30) days from completion of construction. Prior ~
~ !-1 thereto, Owners shall pay to the Contractor interest at the rate hereinabove set ~
~ i forth on all funds required for said construction.
~ ~ Makers reserve the right to prepay all or any portion hereof at any time without ~
~ penalty and this Note shall accelerate and become fully due and payable within
five (5) years from the date of cosm~encement of the payments herein required.
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Eath maker and endorser severally wa~ves dema~d. protest and nctice of maturity, non-payment or protest and all r~• Y•
; quiremsnts necessary to ho{d each of them liable as makers and endorsers. j~
Each maker and endorser Further agrees, join~ly and severally, to pay all costs o4 colleclion, including a reasonable altor•
' ~ ney's fee in case the principal o( fhis nete or any paymenf on the principal or any interest thereon is not paid at the respectiva s
` maturity thereof, or in case it becomes necessary fo prolect t~e securify hereof, ~.hether suit be brought or not. i~
; ~ This note and deferred snteresl paymeMs shall bear interest al lhe rare of 18 per cent. per annum from maturity j
: un?il paid. k
: I This nole is secured by a F~rst morlgage of even date herewilh and ~s to be construed and enlorced according to the laws y
a of ~he State of ftorida; upon default in the payment cF principal and to? interest when due, the whole sum oF principal and
~ ! interest remaining u~paid sha~l, at the option o( the holder, become ~mmedialely due and payable ~ k,
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` ~ ~o~K S74 ~~E 909 ~
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