HomeMy WebLinkAbout2355 ICONiTpUCT10N ANO /~RYAN~MTI .
Mo~c~?c~ No~ ~ -
Amount ot the Note: _~0 ~ QOO • 00 Date o~ Note: ~ Q• 7 y .
Mncur~ty Da~e: Oe~ Y~as ,
Inferest Rate: 10e ~
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IntereEt Period: Fcom tLs date hsreot thro~b -
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Amortisation Periad: ~an ths d~U? aiter tl~s Intereat Period eo the Meturity Date. ~
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~,.c~t r~~: =~0, 000.00 pins fat~ss~sse dw aa~ yaar ~ dar.~ _
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Ftisc inatalment Pa~yayent - nate: ~
FOR VALUE BECEIVED. the undersigned and i! a?~re tbaa one. 3ointly snd sevenUy (tl~e l[aku). does hereb~ ;
eovenant and promise to pay b the order o! 3un Bank o! St,. Lude CountY or to ib suoceswrs or aasigns (eoUeetively the ;
Payee). st its prineipsl oi~oe at ili Orange Avenue, Fbrt Piere~, F7a. or at eucb other place ss the Psyee n~,y desi8nsts ~
to the l[alcer in writing irom time to time. iu legal tender oi tbe United SL:~cs, the Aznount of the Note or ~o mueh 3
thereof ~us may be advsnoed (the principai Amount) by the Payee pur~usnt to s coAStruction loan a~greement or loan
oomnaitment, bet.Peen the Haker and the Psyee. LoSether with interest st the IAtereat Ratc on the nnpaid balance oi the
Psineipd Amounk :
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Dutins the Interest Period interest from ths date ot each edvance. at tbe Intenat Rate. shall be paYable monthly on '
the i'ust day at tbe month tollawina the nwnth in whicb tbe fird advanoe is made and on tbe Cuat day of each month
thereafter, darins t6e Amortizatioa Period equal monthly imtalmenb, each in t!~ amount of the Instalment Paymenl,
the Cust such Indalment Payment to be made on the Fi~s! I~talment Payment Date sad sub~equent Instal:nent Pay- -
menb on tbe Cud day of ench month t6eresiter unW t6e Maturih? Date wLereupon We entira unpaid balance ot p~~P~
and intereat accmed and unpsid thereon d~all 6eeome due and p~yable: each such it~stalment when paud s6a11 be applied ~
first to tbe psyment oE intsreat on tLe unpaid balanoe at the Interest Rate and the remainder thereot to payment on ~
account ot principal. ;
If intere~t os any Iastalment P~ment sball not be p~id when due. thea the entir~ PrinciPal sum and aecrued interest ~
hereunder ahall become due and payable at once or thereatter. at tbe ePtion ot the holder of thia Note. The Psyee ~
may. ac its option. oollect a late diaree not to ezoeed two cents for eech oae dollar of each Iastalmeat Paqmenc not paid ~
when due to reimburee the Payee for e:pensea of srsvicin~t delinquent Instalment Payznenta. Failure to e:erciae these w
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options ehall not constitute a waiver of the tight to ezercisa the same in the event oE aaq subsequent defaulk ;
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It is fustber agreed that the Maker and each endorser. surety, guarantor. iointly snd severallY. shaU FaY a11 costs ot -
collecti~ of thie Nobe. includina a reasonable attorney
s fee, on tailure to pay any Iffitalment Payment or any aorrued
interest due bereunder an tbe due date theraof. This Note and all s~me due hereunder a1ia11 bear interest at the hi~est
lawful rate of interest Per annum in the 3tate ~ Florida fmm the date when ihe principal snd accrued interest under :
j this Note shall be due aad peYable- T~e total u?terest payable hereunder st~all not in any oae y~r e:~eed the higheat _ ,
E lewEul rate ~ interest in tbe State ~ Florida_
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This Note ie secured bY a Mortgage. dated the date hereof. of property situated in U~e 3tate of Florida.
The Maker agreea that it shall be bound by anr ~ment e:t~nai~a or mod;ty;ng tbe abo,?~ c~r~ ot ~y-
ment, made by tUe Payee and the owner or owaers of tbe P~~Y ~f~~ ~'Y ~d Mortgage. wbetl~er with os without
notice to the Maker, and the Maker ahall coAtinue lisble to pay the anwuut due hereunder, but with intereat at a rate
ao greater than the InteresL Rate. aacordine to terms of any such agreement of entension or modiGcation.
'I4~e unpaid balanee of the Principal Amount, Plus aocrued iaterest ahall become due and peYable at, the option ot
the Payee-under tbe baPpenin8 ot an event by which esid balanoe ahall or may become due and paYable under the -
terms of said Mortgage. .
'1'his Note may not be changed orally. but only by an ssreement in writing, sip~ed bY ~ P~Y ~t wbam en-
foroement of any waiver. chaage, modification or dischar8e ia sou6hL z
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Alt parties to this Note, whetber I?ialcer. Principal. sui'etY, Buarantor or endoraer, berehy waive pr~entment tor ~
PaYment, demand. protest. notioe o[ pmtest, and notice of dishonor, and ezpressly agree jointly and severally to remain
and continue bound for the peyment oi the principel and interest provided for by the terms ot thia Note, notw+ithstendin8 ~
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any eztension or e:tensio~ ot the 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 t6e abligation to pay provided for. in thia Note, or :
any change or changea by way of release or surrender or substitution of any real property and collatersl, or either; held !
as security tor this Note. and waive all and ererY k~nd ot notice of such e:tension or e:tenaions, change or cbanges, snd
agree t6at the seme may be made without the joinder of the Maker.
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. 1~d~d~r~~a~ AAnt~ Z, eos 2095 ~
~ort pi~co~. tlori~a 33~50 ~
Jacob D . Stewart
/s/ Avanell C. Stewart
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