Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1924-03-14
LEGAL AID NO. 6e1
GEORGIA, Sumter COUNTY.

Whereas; W. ]. Sims did on the
4th day of February, 1922 execute
and deliver to The Federal Land
Bank of Columbia, corporation
created and existing under and by
virtue of an Act of Congress of
United States, one certain amor5i-
cation note for the principal sum OF
Nine Thousand $50, 000.00) Dollars.
together with interest thereon at the
rate of 6 per cent per annum from
date, both principal and interest be
ing payable semi-annually on an
amortization plan CATER the first
payment of interest which was due
on May LIST 1929 in So semi-an-
nual installments of Three Hun
dred Fifteen ($315.00) Dollars each
and final installment of Two Hun
dred Sixty Two Dollars Sixty Three
cents ($262.63), the first Install
ment being due on November list
1922 and one installment due each
SIX months thereafter until the ell
tire amount be paid in full. 1t was
provided in said note eff default be
made in the payment of any install,
ment or installments-or if defauE
be made in respect to any condition.
agreement or covenant contained
in the mortgage or loan deed
which secures the payment hereof,
then and in that event the whole
sum of the principal of this note
remaining at that time unpaid, TO-
gether with the accrued interest.
shall, at the option of the holder
thereof, become due and payable at
once; and
Whereas; in order to secure the
payment of the principal and inter-
est due by virtue of said note, said
W. J. Sims executed and delivered
to The Federal Land Bank of Co
lumbia his security deed to The
lands hereinafter described, which
deed is recorded in Deed Book
Xxx" pages 33O-33 of the records
of Deeds of Sumter County, Geor-
gia, reference to which is hereby
made, and
! Whereas: in said security deed it
was convenanted and agreed that
party of the first part will insure
and keep insured all buildings and
improvements now on said premises
loss, if any, payable to The Fed
cral Land Bank of Columbia as its
interests may appear.-That party
of the first part shall pay all taxes
llens-as they become due. That If
party of the first party fails to pro
cure and maintain said insurance,
or fails to pay premiums charged
therefor-or fails to pay said taxes
llens-then The Federal Land Bank
OF Columbia may effect said insur-
apce, pay premiums thereon-may
also pay said taxes. liens-and the
money so advanced shall be added
to the principal debt and become
part thereof and repayment OF
same with interest at the rate of
8 per cent per annum from the date
of such payment shall be secured by
this deed" 1t being further provld-
ed in said deed chat if said party
OF the first part shall fail to pay
any of said installments as thew
become due and payable, or to per.
form all conditions and covenants
as specified in said note and in this
deed; or if default be made in the
insurance agreement, or in the pay
ment of said taxes, liens-then at
the option of The Federal Land
Bank of Columbia, or its successors
and assigns, the whole principal sum
of said note remaining unpaid Mt
that time, together with all accrued
interest and all other sums, includ-
ing all advances made for taxes,
liens, insurance-shall at once be-
come due and payable without no.
tice, and this deed may be forth
with foreclosed for the whole
amount of said sunshine being
the essence of this contract" and
Whereas; said deed contained the
following provisions: that IN
case the debt hereby secured shall
not be paid when it becomes due
or by reason Of a default as above
provided The Federal Land Bank
of Columbia its successors and as
signs may sell the said property at
auction at the usual place { n
conducting'salas at the Court House
in the County where the land lies
20 the highest bidder for cash, first
giving four weeks notice of the
time, terms and place Of sale by adj.