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Home My WebLink AboutScan_1217 'I fi I 17 ... ~_..-... po - - !: .ame bl the United Stat.., or bl any State, Count7 or Kunl01paH tJ eubeequa nt to the 31'4 da~ ot September, 19~6; ProTided, howeTer, the le88ee. eball not be liable tor aQJ lnoome or 1n- herltaaoe taxe. al8e81ed upon the lel80rl bl rea.on of the le880r'8 ownership ot 8814 proper t, . l The lellore obligate and bind themeelTe. to pay all unpaid taxea. It.a~. a88e88ed fo the year and prior to the year 1924, and all liens for publ10 improvement8 that 118.y ha'Te b.e aseesled ag.lnst abOTe de80ribed property pr10 I' to the f1r8t day ot the rental period herein ud herebl de8ignated, and warrant the title to the above desoribed property to be well 'Veat] ed in them tree trom aDY liena or enoumbranoes 1n Jaw of equl1i" , saTe and exoept one mortgagl in the 8um of Thirtl-Ulne Thousand Two Hundred Eighty (139,280) Dollars, inoluding intere8t to maturitl. whioh the lessors obligate and bind themselve8 to pay at maturity. I T~e mortgage herein aboTe referred to secures a serie8 of notes, maturing on the 29th day of .ugust of eaoh and every year for a period of seven (7) years. beginning on the 29th day ot .ugust, 1926. and termlna t1ng on the 29 th day 0 f AUgust, 1931; eaoh of said notes are msde payable at the Fort Pieroe Bank & Tzust Company and are payable to said Bank a8 tru8te.., and the oa1d 'ort Pieroe Bank & Trust Company for the proteotion of all partie. to th18 In- I strumen t is henby fully authorized and empowered to apply so muoh of said rental payment ae I may be neoessar;v, from the rental so oolleoted. to the 11quidation and pa~nt of any due, or; I paet due, prinoipal or intereot that DBY remain unpaid on the date of the payment of sa14 I r.ntal installments. t I ! The said 10rt Piero. Bank & Trust Company 1s hereby authorized, empowered and di-~ote<< . I ! to oolleot all rental falling due under this lease and to apply the moneys so paid to the I i pa~'lD9nt of the note and interest that ID8Y be then due by the lessors herein to the said Bank,! I and the said lort Pieroe Bank & Truet COIllplDY, as tr\8tee. after making suoh payment 1s herel i by authorized. empowered and directed to deposit the balance of said rental ao collected by i I aald Bank to the credit of the lessore herein; one-half to be deposited to the oredit of I i Ralph C. Erskine and one-half to be deposited to the cred it of Edna I.ewia Erekine. Thie par-;' , I agraph of the lease uaking the rental psyable at the said i3anlc shall be irrevocable until tMj I ~~rtgage aforesaid shall have been fully paid, and the po~er of the Bank to apply said money~ i I I I The 1888ee8 herein tor lihe purpose of securing and guaranteeing the payment ot l.ll reo- tal maturing. and the payment of all taxea and other pecuniary obligations during eaoh ren- I tal year, obligate and bind themselves to execute and deliver on or before the 3rd day of I I Ootober. 1926, a good and 8utf1oien t bond in the Bum of Ten Thousand ($10.000) Dollars, s1gn-l I ed by the lesaees a8 prinoipll and by a aurety o~pany authorized to do busineso 1n the St8t~ I of ll~rida. as surety, oonditioned that the le8seel ~ill well Bnd truly stand to and abide b~ I ! pay all peouniary obligations impoled upon the lee.ee. under the termo and conditions of eai~ I ninet1-niDe (99) year lease 4ur1ng the period beginning on the 31'4 day of September. 1925. ana I terminating on the 31'4 day of SepteuDer, 19E6. I fhe 1..e'8 furtherltore agree to giTe another bond on or before the 3rd day of SeptalD-' shall be irrevooable uutll the indebtedness aforesa1d shall have bee n fully paid. all of the terms and conditions of 8ai4 ninety-nine (99) year lease and will well aDd trull I ber, 1926, eigned by the 1888ee8 ae prinoipal and by a surety company authorized ~o do busine 8 in the State of florida, a8 Burety, oonditioned that the lea8ee. ~ill .el1 and truly otand to and abide b1 all ot the terms and oondit1one of ea14 ninety-niDe (99) year lea.e and w111 wel and trul, pay all peouniary obligationa lmpa.ed upon the 1.8eee. under the t.rms and condi- tione of said Dl1".et,-nin, (99) ~ear leebe 'ur1I18 the rental periOd beglnning OD the 31'4 d&y' ot September, 1926, and te~1nating on the 3rd d~ of September, 1~27a ..;.)~ >~,'..-. ,,:;,_~?::~~;:,;~~ <0.:1.;.:. ~::,~~:::'~'./. . '... -. *. - ,- ~ . ~;q ". . ,t: ..:"~:: c::'}~;::> .~:~:>~ , :.., ';:;. .' " . '.2' ,