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Home My WebLink About1914 ~ . /CONttIlUCTION ANp ?~ArANENTI ~ MORTGAGE ~ NOTE Amount ot the Note: 575, 000.00 _ Daee ot Noee: July 2, 1974 Macuricy ~te: October 1, 1984 ~_._W~ v~~~. n a auwaa.:.i 3 8 tntere.: Feriaa: ehe aate hereoc throuah October 1, 198 4 Amortization Period: From the day atter the Iaterest Period to the Meturity Date. ~~nt p,~y~n~: $ 9 50 . 08 - ~w~n~ P~nc nac~: p~tober 1, 1974 FOR VALUE RECEIVED, the undersigaed and ii more t1?an one. jointly and eeverally (the Maker)~ dces hereby eovenant and promiae to paY to the ur~ler ai Sun Bank oi Si Lucie County or to ita auccessors or assigna (colleetively the Pa}ee). at its prine~pal office at 111 Orange ivenue, Fart Pierce; Fla. or at sueh other pla~ce sa the Payee may deaignste to the D[aker in writing from time to time. in legal tender oi the United States. the Amount of the Note or ao much ~~i aa mav be advanced (the Princiual Amount) by the Payee pnrsuant to a construetion loan agreement or loan eoaunitment, between the Maker and the PaYee+ to8eth~r With interest at the Interest Rs.te on the unpai~ Daiance ot tiie Principal Amounk ~ Durina the Interest Period interest frozn the ~ date of eac6 advance. at the Intereat Rate, shal! be payable monthly on the t'uat day of the moath followin8 We month in wf~ich the first advanca ia made and on the first, daY ot each month thereatter, durina the Amortization Period equal :nonthly inatalmenta, each in the amount of the Instaltaent Paymeat. t6e first aucb Instal~nt Payment to be made on the Fiist Inatalment Payment Date and subaequent Instalment Pay- menta on the Cust day ot each month thereatter until the Maturity Date whereupon the entire unpeid balance ot principal and intee~t accrued and unpaid thereon n6all be+.~ume due and payable; each such instalment when paid ahall be applied first to t6e psymer?t o[ intereat on the unpaid balance at t6e Intet+cat Rate and t6e remainder thereof to payment on account oE Principal- It intereat or any Inatalment Payment shall not be paid when due. then the entire principal aum and accrued interest bereunder a6a11 become due and payabte at once or thereaf ter, at the optibn af ih~ haider of this I~'aic. The Payee may, at its option. rnllect a late charge not to e:ceed two centa for esch one dollar of each Instalment Payment not paid when due to reimbuiae the Payee for e:penses of aetvicing delinquent Instalnnent Paymenta Failure to e:erci~e these optiona ahall not eonstitute a waiver of the right to ezetriae the same in the event of any aubsequent default. It ia further agreed that the Maker and each~dorner. aurety, guarantor, jointly and severally, ahaii pay all costa of eollecti~ of this Note. including a reasonabie attoraey's fee, on Esilure to pay any Instalment Payment or aay accrued interest due hereunder on tbe due date thereof. This Note and all auma due hereunder sball bear intereat at the highest lswful rate of interest per annum in the 3tate of Florida tmm tbe date when the principal and accrued interest under thia Note ahsll be due and payable. The total intereat payable hereunder ahall not in any one year exceed the highest ; lawtul rate of interest in the State of Florida. i f '[bis Note is aecured by a MortBage. dated the date hereof, of property situated in the Stete of Florida. - E ~ The Maker agrees tl~at it ahall be bound by any agreement extending the time or modifying the above terms of pay- ~ ment, made by the Payee and the owner or owners of the pmperty affected by aaid Mortgage, whether with or without ~ norice to the Maker. and the Maker shall continue liable to pay the amount due bereunder, but with intereat at a rate no greater than the Interest Rate. accordina to terms of any such agreement of e:tension or modiCuation. 1'be unpaid balance of the Principal Amount, plus accrued intereat ahall become due and payable at the option of the payee_under t}ie happening ot an event by which said baiance shall or may became due and payable under the term+ of said Mortgage. This Note may not be changed oraAy, but onty by an agreement in writing. signed by the party against whom en- torcement of any vraiver, change, modi~cation or diachar8e is sought. ~ All parties to this Note, whether Maker. principal, surety, gaarantor or endorser, hereby waive presentment for ~ payment. demand, protest. notice of pmtest. and notice of dishonor, and e:pressly agree jointly and severaUy to remain ~ and continue bound for the payment of the principal and intereat provided for by the terms o( this Note, notwithstanding any e:ten~sion or e:tenaiona oi t6e time of, or tor t6e payment ot said principal or interest, or any change or changea ~ in the amount or amounts agreed to be paid under or by virtue of the obligatian to pay pmvided for in this Note, or - any change or changea by way ot release or surrender or substitution oi any real property and collateral, or either, 6eld ~ aa aecurity for this Note, and waive all and every kind of notice oi auch e:tension or eztensions, change or changes, and agree that the same may be made without the joinder o( the Maker. ~ ~ ~ ~ ~ r~ ~ James R. Peeler ~ R ~ ga~234 ~19~.~ ~ Elsie E. Peeler ~ R'ill/ 9Sf - FAIIi.7: Dl iY.4~ . ~ - - - - - - - 5 ~n, g`- ~ ~ z- % ~ . s~?~~ ' ~-~m~, ~ er ~ ~_~_._...s . ~ . ~ _.~.Fi~d ~.5 ~