HomeMy WebLinkAbout1341 Sf•~:i~l'1_ L)' f01 ~~l'1.5 ~C)~1~.
~'hi_;: 1~o1c: is sGCUrc:cl hy R Fi.~'st: rlo~-tga~;e of_ r.v: ~i dt~t-c• hc~i~c-
c:~ith co~ivcytn~ cerl-1i.n rer~l es~ate liid propcrCy locnted in t-he Cou~~ty
uf St. Lucie ~ in the State o~ Florida ^N~, Rs tt~erc-
in descrih:~d, and consti.tt!tes tl~e NoLe issued undcr a ce~: ~~in .Con-
sLructi_oi1 I,oaii Agrec~~~ent of eve~i date, mad~ by ttie p~rty hert,i:o, to ~
F~hich A~recnz~.i~t refcrence is hc~reby n~ade ~or ~ stntemciiL of the ter?ns
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and CO11CIlt~.Olls upon 4I~11.C~1 loans eviclenced hereby ~re made,
I{ clefault be inade i.n the payment ot any instal.lment: of in-
terest as above provided, or if default be mACle 3.n the p~rform:~nce of
or compl iance c•~irlt thc covens~nts and conditions of the TiortgZge secur--
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ing p~~mtent t-llereo£;~ or the coven~nts and conditions of the Construc-
ti.oil Loan Agreemeiit, Che cntire principal sum e~~idenced hrreby to-
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geth~r- withi~~nt:e~-est ,~accruecl thereoil shall; at the o~~ti.on of Lt1e
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h~cfici af~°fti s Not-~, become im;nediately due and payab2e. The ho].der's
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~a3.lure to ~#xercYse this opt-ion shall not constitute a waiver ctf th~:
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righi: ~o e°rci~e th~ same i.n the event of any subsequent def~u]t. In
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; the event of_;~an~ such'default and upon acceleration of the enfiire in-
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€ debtedness afo~es~id, interest upon the principal s~~m shaJ_]_ accrue
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~ thercafter at ~~he ra~te of Fifteen _ ~ per cent ( 15 °io)
per annum.
~ In the event that any inst:111mcnt shall became over.cl~ie foi- a
period in excess of fifL-een (15) days, a"late charge" of four ceiits ~
(4~) for each dollar ($1.00) so overdue may be charge;l by the hol_der
hereof for_ the purpose of defraying the expense incident- to h~zndli_n~
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~ such delinq«cnt p1y~r~eiits. ,If any sui.t or RC~~OIl is iilstitu~c:t or an
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~ a tt orn. y i.s e~n~~loyed to coll ec ~ this roi-e or ~~iry p~r~ th~rcof~, t~he un-
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~ C~Cl'S]~l1C:C~ ~~-o:~ises to pay all costs of co].lection, incluc~jnt r`~son--
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able att~or~iny's f:ces,
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~ so~~203 P~~:134i
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