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Home My WebLink About2078 ~CONiTAUCt10N ANO ~ERMAMENTI { 1 r MORTGAGE NOTE Amount ot the Note:=3S~ 000.00 Daee ot Noee: Apr11 25, 19T4 Maturity Date: Nov~mbar 1, 1989 ~ Interest Rate: 9~ Interest Period: From the date bereot throuBb - Amortisation Period: Fran ths daY atter the Intereat Period to the Maturity Date. Instalmeat Payment: $ 3 5 5. Firat Insralment Paym~n~ Dace: November 1, 1974 FOR VALUE RECEIVED. the underaigned and if anore than one~ jointly and severally (the Maker). does hereby covensnt and promise to peY to the order oi Sun Bank of St~ Lucie County or to its suceeasora or aasigns (collectively the Payee), st its psincipsl oifice at lil Orange Avenue. Fort Pieree~ Fls. or at such other place as the Payee may designate to the Maker in wsiting imm tirae to time, in legal tender of the United State~, the Amount of the Note or ao much thereoi sa may be advaneed (the PrineiPal Amount) by the Payee purauant to a eonstruetion loan agreement or loan rommitment, between the Maker and the Payee~ together with intereat at the Interest Rate on the unpaid balanc~ of the Principal Amount~ Du=ing the Inter~st Period interest from the date ot each advancc, at the Interest Rate. ahatl be paYable monthly on the firat day oi the month foAowing the month in which the Ctrst advance is made and on the fint day of each month thereafter; during the Amortization Period equal monthly instalments. each in the amount of the Instalment Paymen~ We fitst such Instalment Paymeat to be made on the Find Instalment Payment Date and subsequent Instalment Pay- menta on the firet day of each month thereafter until the Maturity Date whereupon the entire unpaid balance ot principal and interest accrued and unpaid thereon ahall become due aad payable; each such instalment when paid ahall be applied fiiat to the payment ot intereat on the unpaid balance at the Intereat Rate and the remaindet thereof to payment on account oE principal. If interPat or any Inatalment PaYment shall not be paid when due, then the entire principal sum and acrrued intereat hereunder ahall become due and payable at once or thereafter, at the option oE the holder of thia Note. 'T6e Payee m,ay. at its optic~. collect a late charge not to ezceed two centa for each one dollar of each Inatalment Payment not paid when due to reimbutse the Payee for ezpenaes of eervicing delinquent Instalment Paymenta. Failure to exercise these options shall nof rnnatitute a waiver of the right to e:ercise the same in the e~?ent of any aubsequent default. j It ia further aareed that the Maker end ~ch endoraer. aurety. guarantor. jointly and eevetally. shall pay all coste of I rnllection of thia Note, incladinB a reaaonab~e attorney'a fee, on failure to pay any Instalment Payment or any accrued ~ interest due hereunder on the due date thereof. This Note and all awns due bereunder shall bear intereet at the highest € lawful rate of interest per annum in the State of Florida from the date when the principal and accrued interest under thia Note ahall be due and payable. The total interest payable hereunder ahall not in any one year exceed the highest ~ lawfut rate- of intetest in the State of Florida. , . € Thia Note is aecured bY a Mortgage, dated the date hereof, of property aituated in the State of Ftorida. ~ ~ The 1liaker agreea that it shall be bound by any agreement extending the time or modifying the abo~'e terms of pay- ~ ment. made by the Payee and the owner or ownera ot the property affected by said Mortgage, whether with or without notice to the Maker, and the Maker shalt continue liable to pay the amount due hereunder. but with interest at a rate e no greater than the Interest Rate. according to terms of any auch agreement of extension or modification_ ~ The unpaid balanoe of tbe Principal Amount, plus accrued interest shall become due and payable at the option of the Payee-under the happening of an event by which said balance shall or may beco~ due and payable under the terms of said MottBage. ~ - This Note may not be changed orally, but only by an agreement in writinq, signed by the pacty aBainst whom en- ~ forcement of any waiver, change. modification or discharge ia sought. ~ p1t 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:presaly agree jointly and aeverally to remain and continue bound for ihe p~yment ot the principal and intereat provided for by the terma of this Note, notwithatandin8 ~ any e:tension or e:tensiona ot the tune of. or (or the payment of said principal or intereat, or any change or changes in the amount or umounts agreed to be paid under or by virtue of the obligation to pay prorided for in this Note, or ~ any change or changea by way ot relesse or surrender or substitution ot any real propertY and collateral, or either, held ~ as security tor this Note, and waive all and every kind of notice of such e:tension or e:tension~, change or changes, and agree that the same may be made without the joinder of the Maker. ~"r3 ~ ~ UNITED PARTNERS, III, Inc. . _ . , _ , rr:~,. . /s/ ~=;y . ~ ~ ;~a, = ~ ~ Secretary-Treasurer ~ ~ . _ . • " ~ , ~ ' : ; . . • $ . . ~ooR~ ++~20 • ~ ~a!C `t`, . ~'``y ',~~li~.~~» ,.1~ . ~'~;a r~~L -t!~~~'•. ~Y+;~; R.YiI !tt - PRI~I~c. 11 tEAIO~ ~ ti; u = ~ PF _ ' f x ta,-.3' _ _ _ , _ ~ a.~ "'"s"'"~~: