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Home My WebLink About2286 513, 500, 00 MORTGAGE NOTE February 22, 1974 Amount of the Note: F1Ve 'lears pate of Note: ~4~turity Date: intereat Rate: Interest Pcriod: From the date hereof thmugh • Amortiz:?tion Period: From~t~'iev~day` a~er ~e ~ii~e~es~'~enod Fof th~ Maiu~ri~y ~at~~luS intrrest Insti?iment Payment: ~l]C'C:~ l, 1975 ~ • First [nstalment Payment Date: ' FOR VALLIE RECriVED, the undersigned and if more than one, jointlv ~nd severatly (the 1liaker), dces hereby covcnant and promise to ifay io the order of SUTI Bank Of $t. Lueie County or to its succe.vors or assigns (collectively i}~e Ppyee), at its principal office at 111 Orange Avenue, Fort Pierce, Fldor 1t such other plAce as the Payee muy designate to the ~taker in writing from time to time, in IeFal tender ot the United States, the Amount of the Note or so much thereot xs rnay be adv~nced (the Princi~~~l Amount) by the Payce pursuant to a construction Ia~n agreement or loan commitment, between the Maker and the Payee, together with interest at the Interest Rate on the un~~aid b:~lance o[ the Principal Amount. During the Interest Period interest (rom the d:~te of each advance. at the Interest Rate, shall be payabte monthly on the first day of the month toliowing the month in which the first advance is made and on the first day of each month thereafter: during the Amortizntion Period equal monthly instalments, each in the amount ot the Instalment Payment, the first such Inskzlment Payment to be made on ihe First Instalment Payment Date and sahsequent Instalinent Pay- ments on the first d:~y of each month thereatter until the Maturity Date whereupon the entire unpaid balttnce of principal and interest accrued and unpaid thereon shall become due and pay:?ble; each such instalment when paid shall be applied first to the paynient of interest on the unpaid bal~nce at the Intemst Rate and the remainder thereof to payment on accuunt of principaf. if intemst or any Instalment Payment shall not be paid when due, then the entire principal sum and acrrued interest :iercunder shall become due :~nd ~:?yable at on~~e or thereatter, at the option of the holder of this Note. The Payee may, at its option, ~rilect a late charge not to exceed two cents for each one dollar of each Instalment Payment not paid when due to reimburse the Payee for expenses of servicing delinquent Instalment Payments. F~ilure to exercise these o~,tions shall not constitute a waiver of the right to exercise the same in the event o[ any subsequent default. It is further aRreed that the Maker and each endor~er, surety, guarantor, jointly and severally, shall pay all costs of colieYtion of this Note, including 1 reasonable attorney's tee, on failure to p~y any Instalment Payment or any acerued ~ interest due hereunder on the due datP thereof. This I~ote and all sums due hereunder shall bear interest at the highest E lawful rate of interest ~~er annum in the Siate of Florida from the date when the principal and accrued interest under tnis Note shall be due and payable. The total interest payable hereunder shall not in any one year exceed the highest s ~1W~U~ rate of interest in the State of Florieia. - ~ ~ $ This \ote is aecured by a 1liori~age, dated the da.e hereof, of pro{>erty situated in the State of Florida. ~ i ~ The hiaker a~rees that it shall bc bound by :;ny aKrecment extcndin~ the time or modifying the above terms of pay- ~ mcnt, mlde by the Payee ancl the owncr or owners of ihe pra~~erty affected by said vlortgage, whether with or without ~ notice to the ~1laker, ~nd the tifaker shall continue liable to pay the amount due hereunder, but with interest at a rate no greater than the Interest Rate, according to terms of any such~agreement ot extension or modification. ~ ~ The unpaid balance of the Prin~ipal Amount, plus accrued interest shall become due and payable at the option of a the Payee under the happening of an event by which said iwlance shall or may become due and payable under the r termv of c~id ~'Iortgage. - _ ~ ~ This Note may not be changed orally, but only by an agreement in writinR, signed by the party against whom en- ~ forcement of any waiver, change, modification or discharqe is sou~ht. ~ ~ Ali partics to this I~ote, whether lfaker, principal, surety, guarantor or endorser, hereby waive presentment for ~ pa~~ment, demand, prote5:, no:ice o( protest, and notice of dishonor, and expressly agree jointly and severally to mmain ~h ~ and rontinue i~ound (or the payment of the principal and interest provided for by the terms of this I~'ote, notwithstanding ? any extension or extensions of the time oi, or for the payment of said principal or interest, or any change or changes ry in the amount or amounts aRrned to be paid under or by virtue of the obligation to pay provided for in this Note, or ~ any change or changes by way of release or surrender or substitution of any r~:al pmperty and collateral, or either, held ~ as security for thia Note, and waive aU and every kind oi notice of such eitension or extensions, change or changea, and = aRrce that the same may i~e made without the joinder of the b'laker. z; /s/ Ovide J . 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