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HomeMy WebLinkAbout2676 IrEAMAH(N~1 , 1 ~ ~ MORTGAGE NOTE ~ 5, 0 U 0.~ 0 Da~e ot tvoce: •'~t, r i 1 principal Amount: Maturity Dace: '~'nree Yc:irs Interest Rate: ~ ~ Amortization Period: ~om t1~e daY hereof to the Maturity Date. ~ Instalment Payment: 1 ~ ~ . ~ ~ ~i t j'-i 7 y ~ Fi~at Instalment Payanent Date: ' ~ FOR VALUE RECEIVED~ the undersigned and if more than one. jointly and severally (the blaker). dces hereby covenant and promise to paY to t1?e order of Sun Bank of S~ Lucie County or to its successora or assigna (collectively the Payee), ~at its principal oftice at 111 Orange Ave.~ Fort Pierce. Fla. or at such other place as the Payee may designate to the Ddaker in vvriting from time to time. in legal tender of the United States, the Principal Amount together W1th interest at the Inteseat Rate on the unpaid balance of the Principal Amoun~ s The sums due and owinA hereunder ahall be payable during the Amortization Period in equal monthlY instalments. each in tbe amount ot the Insfalment Payment. the first such Instalment Payment to be made on the First Instalment Payment Date and subeequent Inatalment Paymente on th~'-~t~day of each month Wereatter until the Maturity Date whereupon the entire unpaid balance of prit~cipal and intereat acerued and unpaid thereon shall become due snd pay- able: each suc6 inatalment when paid shall be applied tirat to the payment o[ interest on the unpaid balance at t6e In- terest Rate and the remainder thereot to paymeat on account ot principal. - If any Instalment Pay~nent shali not be paid when due. then the entire principal sum and accrued interest here- under shall become due and payable at once or thereafter, at the option oE the holder of this Note. The PaYee maY, at its option, rnllect a late charge not to e:ceed two cents for each one dollar of each Instalment Payment not paid when due to reimburae the Payee for e:penses of seivicine delinquent Instalment Paymenta Failure to e:ercise these optiona ahall not constitute a waiver of the right to exercise the same in the event of any subeec~uent default. It is further agreed that the Maker and each endoraer. surrty. guarantor. jointly and severally. ahaU pay all coafa of collection of this Note, including a reasonable attorney's tee, on failure to pay any Instalment Payment or any accrued interest due hereunder on the due date thereof. This Note and all sums due hereunder ahall bear interest at the highest lawfui rate of interest per annum in the State of Florida from the date when the principal and accrued interest under this Note ahall be due and payable. The total interest payable hereunder shall not in any one year ezceed the highest lawful rate of interest in the State of Florida. ' This Note is secured by a Mortgage. dated the date hereof, of property situated in the State of Florida. ~ 'I`he Maker agrees that it sha11 be bound by any agreement eztending the time or modifying the above terma oE ~ payment. made by the Payee and the owner or ovmera of the property affected by said Mortgage, whether with or with- ~ out notice to the Maker, and the Malcer shall continue liable to pay the amount due hereunder. but wiW interest-at a { rate no greater than the Interest Rate, aecording to the terms of any such agreement of c:tension or modification. 1'he unpaid balance of the Principal Amount. plus accrued interest ahall become due and payable at the option of the Payee under the happening of an event by which said balance shall or may become due and payable under the terms of said Mortgage. This Note may not be changed orally, but only by an agreement in writing, signed by the party against whom en- ~ torcement of any waiver, change, modification or discharge is ~ought. All parties to this Note, whether Maker. principal, surety, guarantor or endorser, hereby waive presentment for payment, demand, protest, notice of protest, and notice of dishonor, and e:preasly agree jointly and severally to remain and continue bound for the payment of the principal and interest pmvided tor by the terms of this Note. notwithstanding any extension or eztensions of the time ot, or for the payment of said principal or interest, or any change or changea in the amount or amounts agreed to be paid under or by virtue ot the obligation to pay pmvided for in this Note, or any change or changes by way of release or surrender or sub~titution of any real property and collateral, or either, held as security for this Note, and w-aive all and every kind ot notice of such extension or e:tensions, change or changes, and agree that the same may be made without the joinder ot t6e Maker. ...:~rE`SS : ROt2t~ ~ ~ ~;G::. ~~~-C 'rc~ri. ~~~~~r~- i'l~ric.;t~ 33~~v ~ r /s/ Dean Wilbur Law ~ /s/ Allie Lavon Law ~ i ~ gppi(L~5 PAGE~~ ~O r~ ast - rxrr, rr. sr ~.w~ " : "~'^`~`''.~~.''r - i: ~ - 6 re.~,~..~-_-,~.. '"'~'-,r ~ ~ ~ a ~ 7 . _ . _ . . e _ . £^N;~`~'~ - x,~ .