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HomeMy WebLinkAbout1842 ~ ICONfiRUGT10N ANO ~[11YANlNT1 , ~ MORTGAGE NOTE Maount ot the Note: ~Z4~ 000• 00 Date ot Note: ~~b• 12~ 1975 Matudcy Dace: An,~tz~t 20. 1985 ia~e~c ~c~: 9~~ - Intarest Period: firom the date heraot tbroush Amotti:ation Period: F~om tbe day after the Interest Period to the Maturity Date. . ~°c~~t P~°°t: =;t0. S6 ~i~t i"'t°i`°'°"c P'3'°~°t n~te: Sept~mb~s 20. 19TS FOlt VALUE RECEIVED. the undersigaed and ii more than one, 3ointly sad aeveraUy (the Maker), does hereby covenant and Pmmise to pay to !he order oi 3un Bank ot S~ Lucie Connty or to its suecessora or asaigns (eoAeetively the Payee), st ita pri~[psl o~ce at 111 Oranse Avenue. Fort Plerce. Fla. or at auch other plaee as tLe Payee msq designste to the Maker in wsiting irom time to time. in legal tender of the Unitsd Statea. the Anavnt of the Note or so much ~ thereof as msy be advanced (the Princjpal Amount) by the Psyee pnrsuant to a conatsuction losn sgreement or loaa eommitment, betvreen the Mster snd the Payee, together with interest a! the Interest Rate on the unpsid balsnce of the Principal Amount During the Interat Period interest trom tbe date oi each advence. at the Interest Rate. ahall be payable awnthly on tlie firat day of tbe month following the month-in which the Crst advat?ce is msde and on tbe Cust ~day ot eacb month ther~fter. durina the Amottizatiau Period equat moatiily instalmenb, each in the amo~nt of the Instalment Payment, the fuat such Instalment Payment to be made on the Fiat Instalment Payment Date and subsequent Instalment Pay- ments on tLe firat day of each month thersafter until t6e Maturity Date whereupoa the eatire unpaid balance of principal and interest aecrued aud unpaid thereon ahail beco~ due and payable; each suc6 instalment when paid shsll be applied tirat to t6e payment of interest on t6e unpaid balanoe at the Interest Rate and the remainder thereot to payment on account of principal. If interest or any Inatalment Payment aball not be paid wben due, then the eatire principal aum and accrued intereat hereunder ahall become due and payable at onoe or tbereafter. at tbe optioa of the lalder of this Note. The Payee may, at its option. collect a late charge not to esoeed two centa for eacb one dollar ot each Inatalment Payment not paid whea due to reimburse the Payee for e:penses of servirins delinquent Inetalment Paymenta. Failure to esercise these optiona ahall nof oonatitute a waiver of the right to eurcise the aame in the event of any subsequent defaulk It is furtt~er agieed that tbe Maker end ~ch endoiser. aurety, guaranwF, jointly and severally. ahall pay all casts of ' collection of tbis Note. includins a reasonable attorney's fee. on failure to pay any Instalment Payment or any accrued interest due hereunder on the due date thereof. 'Thia Note and ail aums due hereander ehall bear intereat at the higheet lawful rate of intenst per annum in the 3tate ot Florida fmm the date when the principal and accrued interest under this Note ahall be d~ and payable_ 1Le total intereat payable hereunder ahall not in anq one year e:ceed the bigheet lawful rate of interest in the State of Florida. ~ i This Note ia secure~i by a Mortgage, dated the date hereof, oE pmperty aituated in the 3tatc of Fiorida. ~ The Maker agrees that it shall be bound by any agreement extending the tia~e or moditying the above terms of pay- ~ ment, made by the Payee and the owner or owners ot the pr8perty affected by said Mort6age. whether with or without ~ notice to the Maker. and the Maker ahall contu~ue liable to pay the amount due bereunder. but with inteteat at a rate ~ no gr~eater than the Interest Rate. according to terma of any such aareement of erteasion or modif cation. ~ ~ The unpaid balanee of the Principal Amount, plus aocrued interest shali become due and payable at tbe option of ~ the Payee-under the happening of an event by which aaid balance aball or may become due and' payable under the - terma o[ said Mort6age. € ~ ~ This Note may not be changed orally. but oniy by an agreement in writing, signed by the party against whom en- ~ forcement of any waiver, change, modification or dixharge ia sough~ a ~ All partiea to this Note, whether Maker. rinci l, suret ~ p~ pa y. guarantor or endoreer. hereby waive presentment for ~ payment, demand. pmteat, notice of. pmteat, and notice ot diahonor. and ezpteasly agree jointly and severally to remain ~ and rnntinue bound for the payment ot the principal and interest provided tor by the terms of this Note, nohvithstandiaa ~ any e:tension or e:tensions of the time of, or tos lhe payment of said principal or intereat, or any change or changes ' ~ ~ in the amount or amounts agreed to be paid under ~or by virtue o[ the obligation to pay pmvided for in this Note. or { y any change or chanaea by way of release or sutrender or substitution ot any rnal property and collatetal, or either, 6e1d j ~ as security for thia Note, and waive all and every lund of notice of such e:tension or e:tenaions, change or changea, and ' ~ agree that the same may be made withont the joinder ot t6e Maker. ~ s ~ ~ Prhril~~• ot ps~patrn~at oi aU ~ os aar psst at aoy ti.acu !s b~s~br ~ ~ ~rsnt~d w?~hout p~oulty. /s/ Roscoe M. Shaffer ~ ~ ~ ~ ~ ~ _ ~ /s/ Loraine J. Shaffer ~ ~ ~ ~ PA6E~~ ~ _ 60~ . _ . _ ~ x ~ _ ~ ~ ~ . _ . - _ _ . _ : _ .