HomeMy WebLinkAbout2845 1?ERMAN[NTI .
MORTGAGE NOTE
n~ow~t: S 3, 000. 0(~ nac~ ot Noc~: ~Y 24. 197~
Maturity Date: Ten R~~s ~
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Interest Rate: 9~ ~
4
1
Amortization Period: From the day hereof to the Maturity Dale.
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38.01 ~
Inatalment Payment: $ j
1
First Instalment Payment Date: `=ulY S• ~-g7~ ~ ~
FOR VALUE RECEIVED, the undersigned and if more than one, jointly and severally (the Maker), does hereby
covenant and promise to PaY to the order of Sun Bank of St,. Lucie County or to its successors or assigna (collectively the
payee). at ita prineipai office at 111 Orange Ave.. Fort Pieree. Fla. or at such other place as the Payee may designate
to the Ddaker in w-riting fmm time to time, in legal tender of the United States, the ;'rincipal Amount together with
interest at the Interest Rate on the unpaid balance of the Principal Amount
The suma due and owinK hereunder shall be payable during the Amortization Period in equal monthly instalments.
each in the amount of t6e Inatalment Payment. We firat such Instalment Payment to be made on the First Instalment
Payment Date and subeequent Instalment Paymenta on th~ +:c~1 day of each month thereafter until the Maturity Date
whereupon We entire unpaid balance of principal and interest accrued and unpaid thereon shaU bei.~ome due and pay-
able; each such inatalment when paid shall be applied Crst to the payment of interest on t6e unpaid balance at the In-
terest Rate and the remainder thereof to payment on account of principal.
If any Inatalment Payment shall not be paid when due, then the entire principal sum and accrued interest here-
under ahall become due and payable at once or thereafter, at the option of 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 Inatalment Payment not paid when
due to reimburse ihe Payee for e:penses of eervicinB delinquent Instalment Payments. Failure to e:erciae these options
ahall not constitute a waiver of the right to ezercise the same in the event of any subsequent default.
It is further agreed that the Maker and each endorser, surety. guarantor. jointly and severally, shall pay all costs of
collection of this Note. including a reasonable attorney's fee, on failure to pay any Instalment Payment or any aecrued
interest due hereunder on the due date thereof. This Note and all sums due hereunder shall bear interest at the highest
lawful rate of interest per annum in the 3tate of Florida from the date when the principal and accrued interest unuer
this Note shall 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 properiy situated in the State of Florida_
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~ The Maker agrees that it shall be bound by any agreement e:tending the time or modifying the above terma of
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4 payment, made by the Payee and the owner or owners of the property affected by said Mortgage, whether with or with-
~ out notice to the Maker, and the Maker shall continue liable to pay the amount due hereunder, but with interest at a
~ rate no greater than the Interest Rate, accordinR to the terms of any such agreement of e:tenaion or modification.
The unpaid balance of the Principal Amount, plns accrued interest shall become due and payable at the option of i
the Payee under the happening of an event by which said balance ahall 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-
forcement of any waiver, change, modification or discharge is soughk ' ~
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All parties to this Note, whether Maker, principal, surety, guarantor or endoraer, hereby waive presentment for
payment, demand, protest, notice of protest. and notice of diahonor. and e:preasly agree jointly and severally to remain
and rnntinue bound for the payment of the principal and interest provided for by the terma of thia Note, notwithstanding
any e:tension or e:tensions of t6e time of, or tor the payment of eaid principal or interest, or any c6ange or changes in
the amount or amounta agreed to be paid under or by virtue ot the obligation to pay pmvided (or in this Note, or any
change or changes by way of releaee or surrender or substitution of any real property and collateral, or either, held as
security for this Note, and v?aive all and every kind ot notice of such eztension or extensions, change or changes, and
agree ttiat the same may be made without the joinder of t6e Maker.
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/s/ Robert L. Stokes ;
/s/ Sally A. Stokes
ere~ ~7 ~c~?843 .
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