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. This Note and all ,(ransactions her ndcr shall bc governed by, constru-
ed and enforced in accordance ~rith the ws of the State of Flor ida
with reference to which tlus Note is mad .
Anything in this Note, thc Security Instrument, the Loan Agreement, the
commitments( s) between the Maker and Payee related to the loan evi-
denced by this Not~ or any other agreements or anangements by R•Iaker in ~
connection with the loan evidenced by this Note to the contrary notwith-
standing, if from any circumstances ~vhatever fulfillment of any provision
of any of the foregoing documents or agreements at the time performance
of said provision shall be due shall involve transcending the limit of
: validity prescribed by the usury laws of the state of Florida
~ or anq other law of the state of Florida , then ipso facto
~ the obligation to be fulfilled shall be reduced to the limit of such validity
~ so that in no event shall exaction be possible under any of the aforesaid
~ documents or agreements in excess of the limit of such validity, but such
; obligation shall be fulfilled to the limit of such validity and if under any
~ circumstances whatsoever i~terest in excess of the limit of such validity
;
i will have been paid by hlaker in connection with the loan evidenced by
~ the Note, such excess shall be applied by Payee to the unpaid principal bal- '
~ ance of this Note or refunded to Maker, the manner of handling such ex-
9
` cess to be at Payee's election and/or in case any such excess interest has
; accrued, Payee shall eliminate such excess interest so that under no cir-
cumstances shall interest on the loan evidenced by _this Note exceed the
~ maximum rate allowed by the laws of the State of F lor ida . . - .
~
~ _ The term Maker shall include the undersigned and any subsequent
y~
- party ~r parties acguiring an interest in the property encumbered by the
o-~ Sec~rity Instrument. The term Payee shall include the party named herein
as Payee and any subsequent holder or holders of this Note. ;
~ - . a
~ If-any installment of interest is not paid when due f
= or=if the Principal Amount is not paid on the Maturity ~
- Date, then Maker shall pay to Payee an additional pay- ~
ment equal to four percent (4%) of such interest
`;;y installment or the Principal Amount if the same are not
''a paid= within 30 days of the date when due. _
- . -
Make"r shall pay to Payee initial interest equal to
=t
~no~ ~6 h1C~2g -
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