HomeMy WebLinkAbout1113 exercise the same in the event of any subsequent default.
If this note shall become in default and if the same is
placed in the hands of an attorney at law for collection, ~
all parties hereon agree to pay the holder all costs ot
collection, including a reasonable attorney's fee, whe-
ther collection is made or saught by suit or otherwise. In
the event of default the parties liable hereon agree to
pay interest at the highest rate allowable by law on the
principal and interest then due hereunder from date of de-
fault until pafd. Presentment, protest, notice of dis-
honor and notice of protest of this note are hereby waived
by a11 parties now and hereafter liable hereon, whether as
maker, endorsers or otherwise.
"The indebtedness maq not be prepaid in any amount
nor at any time prior to ten years from the date hereof.
Thereafter, prepayment of principal may be made by paying
a premium of 5% of the amount of anp prepayment during
the eleventh and twelfth years subsequent to the date
hereof, 4% of the amount prepaid during the thirteenth
and fourteenth qears subsequent to the date hereof, 3%
of the amount prepaid during the fifteenth and sixteenth
years subsequent to the date hereof, 2~ of the amount
prepaid during the seventeenth and eighteenth qears sub-
sequent to the date hereof, and 1% of the amount prepaid
during the nineteenth and twentieth years subsequent to
the date hereof.
"There shall be no premium for prepayment subsequent
to twentq years from the date hereof. Any prepayments
hereunder sha11 be applied to the last maturing instal.2-
. ments due under this note. Prepapment sha11 not affect
or vary the duty of the maker to pay the aforesaid monthly
installments when due and they shall not affect or impair
the ri,ght of the holder Co accelerate the maturity he~eeof
and to declare the entire unpaid principal and interest
due and payable as elsewhere provided in this note.
"Any installment not received within ten (IO) days of
the due date shall be subject to a late-payment charge
equal to 2% of the said installment. Fur~her, if the fn-
stallment is not made within one (1) month of the due date,
an additional 2% shall be due and payable and an additional
. 47o shall be charged for each successfve month that an in-
stallment paqment remains pastdue. There shall be no daily
pro rata ad3ustment for any of the foregoing late charges.
Nothing contained herein shall affect or impair the right
of the holder to accelerate the maturity hereof and to de-
clare the entire unpaid principal and interest due and
payable as elsewhere provided in this note.
"This note is secured by a mortgage covering real
estate in Saint Lucie County, Florida.'~
4. This is not a new obligation to pay money and the
note and mortgage and all their terms, covenants, conditions, .
agreements and stipulations shall remain in fu11 force and effect
except as herein amended.
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