HomeMy WebLinkAbout2770 1coN~illuCr~OM •ti0
rI~MA~(=T1 ~
iV;~?TGAGE t~!a i E
Amount of the Note: $5500.00 Dace ot Note: February 1974
\tatarity Date: Teri Years
I~tere~t Rate: 9$
Interest Period: From the date hereof through Mareh 30 , 19 84
a
Amorlization I'eriod: From the day after the Interest Period to the Maturity Date.
Instalment Puyment: $ 6 9. 6 8
First Inataiment Payinent Dute: March 3 0, 197 4 `
FOR VAI.t1E R~CrIV"r.D, the undersi~~ed and if mote than ~nc, joi~tiv ~r.d sevcrally (tne Mnker). does hen~Ly ,
rovenant and promise to p:?y to the o:dar o: SLIri Bank Of S Zucie COi1T'.Ly
or to its ~ucrrcwrs or assi~s (collectively the Payee), ~c i:s princ~{k~l o;ficz at 111 Orange Avenue,
Fort Pierce, Fldor at ~uch other place as tne Payee may dasignate to ihe ylaker in writing irom time to ti~ne.
in le~;al tender of the United S.ates. the Amount o[ the \ute or so much the:cof as may be advanced (the Principal
A?nouni) by the Payee punuant to a coasfruction la~n a~raement or la~n commitment, between the M~ker and the
Payee, togethcr with interest at the Interest R.~te on the unpaid ir.ilance of tne Principal Amouni
Durin~ the Interest Period inte:est froni the date ot each advnnce, at lhe Interest Rate, shall oe payab[e monthly on
the fir.;t clay of the month tollow:ng :he month in which the first advance is m.:de and on the frst day of each month
ct~cre~tter; durin~ the Amortization Pc.-iai equal montl-.ty instalments. each ia the amount of the Instalment Payment.
the iirot such Instalment Payment to be ma~e on the First Instalment Payment Date and sacsequent Instalment Pay-
ments on the first day of each rnonth thereafter until the ~'Iaturity Date H•hereupon the entire urspaid balance o( princii~al
and inlere.t accnicd and unpaid then~on shali become due and pay:,ble; each such inrt:.Iment when paid shall be applied
Eirst to ttie paymcnt oF intemst on the unpaid balance at the Intemst Rate ~nd the remainder thereo[ to payment on
~c~ount `of princiF>ai.
If intetcse or any Inst:~imcnt Paym~nt shall not 1?e ~~aid ~vhen due, t;~c~ thc entire princi~~al sum and accrued interest
hrreunder ~nall i~eco?ne due ;~:~d pa~~able at once or thereaiter, aL ihe op[ion of the holder o[ this Note. The Payee
m:iy~ at its option, colleet a late charge not to exccv~d :wo cer.iq for each one doiiar of each instaiment Payment not pnid
~~•hen duc to reimbnrse the Phyee ior ex;~en~es of servicino dclinquent Ir.sk~lment Payments. Fs~ilure to exemise these
options sh:ill not constitute a~~~aiver o; the right to exercise the same in the event o[ any subsequent de(aulk
~ It is further a~reed thai ihe Naker r~nd cach endor:es, surety, guarantor. }ointly an~ sevetally, shall pay all cvsls of
ir;lection of this ~o;e, inctuding a ms~o~u~bie atiorney's fee. on faiiure to pay any Instalment Payment or any accrued
interest due tiereunder on the clue ~ate iherro(. This \ote and all sums due here~nder shal( bear interesi at the highest
la.viul ratc of interest per annum in tne State of Fiorida from ihe ciate when fhe princi-~al a~d acrrued interest under
this Note shall be due and payable. c total interest payaUle hereunder shail not in any one year exceed the highest
la~vful rate of interest in the State ot Floridn. "
This \ote is u~ured by a\:ortgaFc, u:~ted thc d:?te hcseof, of pro~~crty siiuateci in !he State of Florida.
Tnc ~ta::rr a;;recs ih~i it sna:l ~C twund iiy :~n} a~ncaic~~t exicnd•.ng the ticie o: r.~odify:ng the ahove terms of pay-
ment, mai,e by the Payee and the o~sner or own~rs of the pro.pcrty af:~~cted Uy said vior.gage, whether with or v~ithout
notice to the ~iaker, and the \?aker s:tiail continue liable to pay tne amount due hereur.det, but with interest at a rate
no greater than the Interest Rate, according to terms a: any sueh~agreement of extension or modi~cation.
The ur,paid baiance of th~ Princip:?1 Amount, plus accrued intemst shail oecome due and payable at the option of
tne Payee undcr the happenin~ of an event by which said balance ahnll or may become due and payable under tbe
terms of said ~tortgage. - _
This \ote may not be c:~:~nged or~21y, but only ~by an agreemeni in writing, signed by the party against whom en-
, forcement of any waiver, change, modification or discharge is sought.
All partics to this \'ote, ~vhether ~4aker, {~::ncipal, su;ety, guaranior or endorser, hereby waive prnsentment for
~r.?yment, demand, ~rotest, notice of ~rotest, and notice of dishonor, and expres.sty agree jointly and severaUy to remain
:~nd contiitUe twund lor the paynient oi the p:incipal and interest provided ior i~y ihe tern~s oi t~~is Noie, not~rithstandin~
any extension or e>tensions of the time of, or ior the payment of sa:d p:incipat or in.erest, or sny change or changes
in the amocnt or amounts agreed to hc paid under or by viriue oi !he obligation to pay provided for in this 1\ote, or
any change or cnanges by way of relcase or sur;enuer or substitution of any real proparty and rnllateral, or either, held
as security for this ~1ote, and w•aive ail and every ~ind of notice of such extension or extensiona. change or changea. and
agree that the same may oe made without the yoinder of the V[aker.
/s/ Judy M. Namilton
/s/ John W. Hamilton
. ~ 223 PACE2770