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COMMUNITY FEDERAL SAYINGS AND LOAN ASSOCIATION OF RIVIERA BEACH
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MORTGAGE NOTE
Riviera Beach, Florida
34 , 900.00 March ~,3 ,1973
. ~ _ ~ Date _
. ON OR BEFORE TWELVE (12) MONTHS AFTER DATE, for value
received, the undersigned jointly and severally promise to pay to the order of
COMMUIVITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH,
at the office of said Association in Ri viera Beach, Florida, the sum of THIRTY-
FOUR THOUSAND NINE HUNDRED AND NO/100------------------ DOLLARS
34 , 900.00 together with interest as hereinafter stated, from date hereof
until full aid. • Interest shall be paid inquart r- installrnents, and the first
such annua~lr payment shall be due on the lOth day of July , I9? 3,
and subsequent payments shall be due on the lOth day of the month of each u~ff r-
period thereof, until all sums secured by this note and the mortgage securing this
note have been fully paid. Prepayments on the principal sum due may be made at
any time. ~
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Payments made on the indebtedness secured by this note shall be ~
applied first to repagment of monies paid by COr4MUNITY FEDERAL SAVINGS AND
LOAN ASSOCIATION OF RIVIERA BEACH in accordance with the terms of the mort-
gage securing this note, and thereafter shall be applied to payment of accrued interest,
and lastly to the payment of principal. .
Interest on unpaid balances shall be computed at the rate of seven &hal~
percent per annum. Interest for each calendar month shall Ue accrued~on
the first day of said month ai~d be computed on the unpaid balance of principal and
interest existing on the last day of the preceding month. This note shall be considered
in de.fault when any payment required to be made hereunder shall not have been ri~ade
on its due date, and shall remain in def~ult until said payment has been made. While
in default, this note shall bear interest at the rate of ten percent ( 10 ~
per annum in lieu of the rate hereinbefore specified.
All persons now or hereafter becoming parties hereto severaliy waive -
dema nd, notice of non-payment and protest and jointly and. severally agree that in the ~
'event of default in the payment of any interest due hereunder for a period of thirty
(30) days, the whole of said indebtedness shall thereupon at the option of the holder -
become immediately due and payable, and if this note_becomes in default and is
placed in the hands of an attorney for collection, to pay reasonable attorneys' fees and ,
all other costs for making such collection thereof. ;
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! • s/ Raymohd G. ahillips (Seal) ;
i ~ RAYMOND G. FHILLIPS ~
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~ s/ Coral A. Phillips • ' (Seal)
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CORAL A. PHILLIPS
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Coneiruction note . ~
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