#2948- Deed; QUIT-CLAIM DEED From City of South Bend to American Home Dreams, Commonly known as 313 and 317 Broadway - part 1

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$ 59,004.00 CITY ATTORNEYS OFFICE INTER -OFFICE MEMO Secures! by Real Estate Mortgage South Bend, Indiana, March 21, .I9 83. i promise to pay to the order of The Civil City Of South Bend the su,m of Fifty Nine Thousand and Four Dollars ($59, 004. 00) as follows: Two payments of $29, 502 . 00 each with the first payment due on July 31, 1984 and the second payment due on January 31, 1986. payableat the Office of the City Controller, 1200 County -City Bldg., South Bend, IN With interest at the rate of per cersl per annum computed N / A during such period when there shelf be no delinquency or default in the payment of any moneys to be pPd on this obligation but with interest at the rate of eight per cent per annum computed semi-annually during such period when there shall be any delinquency or default in the payment of any moneys to be paid on this obligation and to be computed to the next interest period following such delinquency or default, and said rate shall continue to be paid until all delinquencies and defaults are removed by the beginning of a succeeding interest period, all without relief from Valuation and Appraise- ment Laws, and with attorney's fees. Failure on the part of any holder to collect or charge the additional interest rate during any delinquency or default shall at no time constitute a waiver of his right, or any other holder's right, to demand and receive interest as provided herein. Installment payments heretnabaur provided shall be applied first to the payment o/ any unpaid interest, secondly to the. unpaid balance of any other unpaid debt on account of this obligation, and thirdly the remainder to be applied on the unpaid principal of the debt until the same is paid in full. Upon default in the payment of any installment or other payment herein required when the same shall become due, the entire unpaid principal, interest and other in- debtedness on account of this obligation and mortgage securing the same shall, at the option of the holder thereof, become due and payable immediately without notice of non- payment or demand for payment, and the entire indebtedness may be collected by appropriate proceedings. No failure on the part of the holder of this obligation in exercising said option to declare the whole of said indebtedness due or to proceed to collect the same shall operate as a waiver of the right to do so or preclude the exercise of such ape on at any lime during the continuance of such default or the occurrence of a succeeding default. Advance payment may be made in any amount, and interest on such advance pay- ments shall not be charged beyond the next succeeding interest period. The holder of this obligation may renew the same or extend time of payment of the indebtedness or any part thereof or reduce the payments thereon; any and such renewal, extension or reduction shall not release any maker, endorser or guarantor from any liability on said obligation. The drawers. sureties, guarantor& and endorsers severally waive presentment for payment, protest, notice of protest and non-payment of this note. The receipt of interest in advance or the extension of time shall not release or discharge any surety, guarantor or endorser on this note. This instrument was prepared by aLys u Pf/l j aue yAssZ-start ('1' t_y AtAnrnQ�L, ,out. Bend, Member of St. Joseph County Indiana Bar Association. Indiana COPYRIGHT NOyEMBCR, 1955, ST. JOSEPH COUNTY INDIANA BAR ASSOCIATION CVP/clt Attachment