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HomeMy WebLinkAbout1021 ~~ERM~V~Nt1 MORTGAGE NOTE Princi~al Amount: ~19~ 000. 00 Date or tvoce: Jnty 3. 1974 Macurity Date: Jaauary 10, 1985 Interest Rate: 9~, Amortization Petiod: ~ Inatalment Peyment: ~11~ OOO. 00 du~ 1-t0-75-Interest top~?id naonthlr oa oupaid balance be~innin~ 8-10-74. Bslanc~ of =8.000 wt11 be paYabi~ in 120 eq~al paYmeats ot =101. 35 F~r~~ I~"c~~~"e"~ pay~"t D~te: to be~ia on Febru+?rr l0, 1975. (to b• applied first ta iat~rest L~slanc~ to princtpsl.l FOB V~LUE RECEIVED. the uodersigned and if more than one. jointly and se~erally (the ~iaker). dces hereby rn~enont and pmmise to pay to the order of Sun Bank of St. Lucie County or to its successors or assigns (collectively t:~e ; Payee). at its principal office at 111 Orange Ave., Fort Pierce, Fla. or at such other place as the Pa~ee ma~r designate to the Ddaker in w-riting from time to time. in legal tender of the United Stutes, the Principal Amount together v?ith interest at the Interest Rate on the unpaid balanee of the Principal Amount~ The sums due and owinR hereunder shal~ be PaYable during the Amortization Period in equal monthly instalments. each in the amount ot the Inatalment Payment, the Eirst such Inatalment Payment to be made on the First Instalment Payment Date and sub~equent Instalment Paymenta on the 1 ~y ot each month ihereatter until the Maturity Date wheteupon the entire unpaid balance of principal and interea~accrued and unpaid theteon shall become due and pay- able; each such instsilment when paid shalt be apptied first to the payment ot interest on the unpaid balance at the In- tereat Rate and the remainder thereof to payment on account ot ptincipal_ If any Instalment Payment shall not be paid when due, then the entire principal sum and accrued interest here- under shatl become due and payable at once or thereatter, at the option of the holder of this Note. The Payee may. at - its option, collect a late charge not to e:ceed two cents tor each one dollar of each Instalment Payment not paid when due to reimburse the Payee tor e:penses af servicing delinquent Instalment Payments. Failure to exercise these options shalt nut cun~titute a waiver of the right to exerrise the same in the event o[ ~+ny subsc~uent default. It is further agreed that the Maker and each endorser, surety, guarantor, jointly and se~•erally, shall pay all costs of collection of this Note, including a reasonabte 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 shall bear interest at the highest lawful rate of interest per annum in the State of Florida (rom the date when the principal and accrued interest unGer this Note shall be dua and payable. The total interest payable hereunder shall not in any one year ezceed the highest lawful rate of interest in the State o( Florida. Thic Note is secured by a Mortgage, dated the d~te hereof, o[ property situated in the State o: Florida. ~I _ ~ The Maker ~grees that it shall be bound by any agreement e:tending the time or modifying the above term+ of I payment, made by the Payee and the ow-ner or ovmers of the property aifected by said btortgage, whether wnth or with- E out notice to the Diaker, and the Maker shali continue liable to pay the amount due hereun.~',er, but with interest at a ~ rate no greater than the Interest Rate, aocordinR to the term4 of any such agreemEnt af extens:a:s ar modificaiien_ The unpaid balance of the Principal Amount, plas acrrued interest shall become due and payable at the option of the Payee under the happening of an event by which said balance shali or may become due and payable under the terms of said Mortgage. A This Note may not be changed orally, but only by an agreerreent in writing, signed by the party against whom en- @ torcement of any waiver, change, modifiration or discharge is sought. 6 All parties to this Note, ~.hether 11laker, principal, surety, guarantor or endorser, hereby waive presentment for payment, demand, protest, notice of protest, and notice of dishonor, and expressly agree jointly and sevenlly to remain and continue bound tor the payment of the principal and interest provided for by the terms ot this Note, notwithstanding any e:tension or extensions of the time of, or for the payment of said principal or interest, or any change or changes in the amount or amounts agreed Eo be paid under or by virtue ot the obligation to pay proyi;:-d for in this Note, or any change or changes by way of release or surrender or substitution of any real property and collateral, or either, held as security for this Note, and waive all and every kind of notice of such e:tension or extensions, cbange or changes, and agree that the same may be inade without the joinder of the Maker. - ~ ~ / s / Jackleen A. McGonnell ~ 800K~ PACE~O~ r.:p~y _ cv.:s.-:a; P. ~ ~ . J~ ,~h.~~ ~Z~:.•.wi.~ ~ + ~'~tir .,1 ~.s ~ ~ i _ ~ ~ ~ ' . . - ..~.~~T~ . _ ' . .