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HomeMy WebLinkAbout2479 ICON~TRUCi~OM •MO ~EAY~NCNTI ~ MORTGAGE NOTE _ Amount ot the Note• ~20~ t00. 00 Date ot Note: Mt!¢h 11~ 1474 : . Maturity Date: Decembes 1. 1989 ~ ~ Intere6t Rate: $~~i Interest Period: From the date bereot thmugh OCt. 31i 1974 Amortization Period: From tbe day attei~tbe Interest Period to t2~e Maturity Date. i~~nc ray~n~: s198.92 . First Iastalment Payment Date: December 1, 1974 FOR VALUE RECEIVED. the undeiaigned and if more than one, jointlv ~nd severally (the Maker). does hereby ~o~~~nc ~?a Pm~ co pay eo ~e order ot Sun Bank of St. Lucie County or to ita successors or asaigns (collectively the Payee). at its principal offioe at 111 Orange Avenue, Fort Pierce, Flaor ac such other place as the Payee may designate to the Maker in writing [rom time to time. in legal tender oE the United States, the Amount of the Note or so much thereof aa may be advanced ( We PrinciPel Amount) by the Payee puisuant to a construction loan a6rrement or loan commitment, between the Maker and the Payee. together with interest at the Interest Rate on the unpaid balance of ihe Principal Amount During the Intereat Period interest from We date of each advance. at the Interest Rate. shall be payable monthly on the first 'day of the month following the month in which the Grst advance is made and on the first day of each month thereatter; during the Amoriization Peria'_ equai monthly inatalments. each in the amount ot the Inatalment Paymen~ the firet such InstAlment Payment to be made on tbe First Inalalmznt Payment I?ate and subee4uent Inatalment Pay- ments on the firat day of each month therea[ter until the Maturity Date whereupon We entire unpaid bnlance of principal and interest accrued and unpaid ihereon ahall become due and payable; each such insta!ment when paid shall be applied tirst to the payment oi interest on tbe unpaid balance at the Interest Rate and the remainder thereof to payment on account of principal. . If interest or any Instalment Payment shall not be paid when due, then the entire principal aum and accrued intereat hereunder shali become due ~nd payable at once or thereafter. at the _option of the holder of Wis Note. 'Il~e Payee may. at ita option; rollect a late charge not to e:ceed two cents tor each one dollar oE each Instalment Payment not paid v?hen due to reimburse the Payee for expenses of aervicing de::nquent Instalment Payments. Failure ~ to e:ercise these optiona shall not constitute a wuiver of the right io exeirise the same in the event of any su~equent default. It is further agreed that the Maker and each endoraer. surety. guarantor. jointly und severally. shall pay alt costs of cotlection of this Note, including a reasonable 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 aums due hereunder ahall bear interest at the highest law[ul rate of interest per annum in the State of Florida from the date wben the principal and eccrued interest uruier I this Note shall be due and payable. The total intereat payable hereunder ahall not in any one year e:ceed the hi8hest i lawful rate of intereat in the State of Florida. , This Note is secured by a T'lortgage, dated the date hereof, of pmperty siWated ia the State of Florida. The Maker agrees that it shall be bound by any agreement e:tending the time or modifying the above tern~s of pay- ment, made by the Payee and the owner or owners of the pro~erty affected by said yiortgage. whe:her u-iih or untholt notice to the Maker. and the btaker shall continue liable to pay the amount due hereunder. but with interest at a rate no grEater than the Interest Rate, according to terms of any auch agrecment of e:tension or modification The unpaid balance of the Principal Amount. pina accrued interest shall become due and payable at t6e option ot the Payee under the happening ~f an event by which said balanoe shall or maY become due and payaWe under the terms of eaid Morigage. - • This Note may not be changed orally, but only by an agreement in writing, aigned by the PartY aBainat whom en- (orcement of any waiver. change. modiCcation or discharge is aough~ All parties to this Note, whether Maker. principal, surety. guarantor or endoraer. hereby waive presentment tor payment, demand, protest. notice oE protest~ and notice of dishonor. and e:pressly agree jointly and ~everelly to remain and continue bound for the payment ot the prir.cipal and inte~t provided for by the terms ot this I+iote. notwithstaodine any e:tension or e:tensions ot the time of, os for the payment of said principal or interest. or any change or changes in the amount or amounte agreed to be paid under or by virtue of t6e obligation to pay pmvided for in thia Note, or any change or changea by way of release or sutrender or subatitution o: ony rr~I pmperty and rnllateral, or sither. held as security for this Note, and waive all and every kind of notice of such e:tenaion or extensions, change or changes. and agree that the same may be made withoui the joinder of the vlaker. / s / Mayoko N. 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