HomeMy WebLinkAbout0835 I~IRST FEDrR~L SAVIt~1GS AP1~ LOAi1 ASSOCIATIO:'1
0~' TiiE Pt1L;d E3EAC~iES
:'•!ORTG1'~GE id0`^F.
.;325,~Jp,~JO ~Je~t Palr~ i3each, Florida ilay 6, 197
After ~:at~, for ~valu~ r~c~ived, I pro;,:ise to pay to the order of j
i R:;^ =~~:RAL .°.AVI::GS AA1D Lv:~:: SSOCIATIOt~! OF T~if: P/1Li%~ ~3EACI{ES, at the
~rf;cz of said Association, ~n ~aest Palm Beach, Florida, tne sum of
T~iree jr~ancred Trre;~t~--Five ':houssnd Dollai•s ( 5325, OQO. ~0 ) together cvi ~h
~:iterest as h°rzi n~ftar sta~Qd; in non~hly installments of 'r~•ro Tnousand
:~res ii~~r.:ir?d Ei;tiity-~i~ht ~ollars and Seventy-Five Cents (;2,38$.75)
e~cii, tne first pa5~ment to be due on the /S~ day of Junp, 1972, and
subsequent oa;~~znts to be d•ae thereafter on the sar.?e day af each
succeedin5 :,!or.~~z until the day of May, 1997 wnen all sums,
prir.cip21 and ~nteres~ shall be fully paid.
All pay~:~°:~ts shall oe first applied to the payment of accrued ~
interest, an3 t~e balance re:~aining shall be applied to the payment of
tize principal su:n.
Interest for the remainder of the first calendar month shall be
cttarged on the date hereof, and be computed on said principal sum.
Interest for each calendar month thereafter shall be accrued on th~
first day of said month, and be computed on the unpaid balance of
orincipal and interest existing on the last day of the preceding
calendar month. Interest shall be paid at the rate of Eight per cent
(8~) per annu~r on aIl unpaid balances, provided, however, that while
this note is in default as hereinafter defined, at the option of the ~
hol~er hereoi', in~erest shall be paid at the rate of nine per cer.t ;
(9N) per annum on all unoaid ba~.ances, and the monthly instailments E
sY~~all be ir.creased to ~n amount y~hich ~~ill full; pay said note as soon s
as if it had not become in d~fault. +
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This note shall be considered in default wnen any paymen~ required
to he made hzrzunder shall not be paid ivhen the samp becomes due, a:~d ~
s:iall remain in default unti~ such payment sha12 have beer. r~ade.
' This nate r.3y be prepaid, in ~hole or ~n part, before anatur~t;~,
~ upon ~ayment to the Association of a prep~yment oe:~alty in the amount
~ of ~'our p~r cent (~p} of tne ar:~ount prepaid.
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All p°rsons now or hereafter becor.ling oarties hereto severally
:•:a~ ve ~emar.d, no~ice of r.on-payr~en~ and protest, and agree that in
tY:e even~ any indebtedness ciue hereunder remair:s unpaid for a period
oi tnirty (3~) days, the :~rhole of said indebtedness shall thereupon,
at the option of the holder of this note, become im,^~ediately due and
ps;~able; and if t~is note hecones in default and is placed in the hands
or an attorney for collection, said persons agree to pay reasor_able
attornsy's fees for making sucn colle~tion.
FORT PIERCE FiELDS PLAZA
By /s/ ~~ielvin F. Sembler (SEaL)
° 3,y /s/ Fred A. Beshara (SHy~)
s~
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E cou~~~. ~
~tOGEF :~~fiR~S ~ E
CLERK C~~curt ~p~ rp gy~ /s/ Albert Dan~ler !~EAL)
RECORp Y~F<r~Ep~~~~~~~~~
~ 1~ ~ ~~~'~1 f
By /s/ Plicholas Manos (~;?aL) !
~299
"EXHIBIT a" ~
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