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HomeMy WebLinkAbout2841 1 1?~IIM~N[NTI ' MORTGAGE NOTE Principal Anwunt: =4. 000. 00 Date ot Note: F eb rua r y 2 5, 19? 5 n,iaa,ri~y n~e~: Tea Year~ Iatereat Rate: ~ ~ Amorti:ation Period: From the day bereof to the Maturity Dats. L,.tatmeAt Payment: ~ 51. 76 . F~rat Instalment Payment Date: April 1~ 19T5 FOR VALUE RECEIVED. the undersigned and ii more than one, jointly and severally (the Maker), dces hereby covenant and pmmise to pay to the order of Sun Bank oi Sk Lucie County or to ita successots or aasigns (eollectively the Payee). at its prlncipal o~ce at 111 Oriu?ge Ave.. Fort Pieree, Fla. or st auch other place aa the Payee may designate to the Maker in writing irnm time to time. in legal tender of the United Statea. the Principal Amount together with • intereat at the Interest Rste on the unpsid balance oi !he Principal AmounL '1Le atuas due and on-inR hereunder shall be payable durin6 the Amortization Period in equal awntlily instalments. each in tbe amount ot the Instaiment Paymenk the firat auch Instalment Payment to be made on the Ftirst Instalment Payment Date aad subeequent Instalment Paymeats on the Cust day ot eac6 month thereaEter until the Maturity Date whereupon We entire unpaid balance of priAcipal and intered acerued and unpaid tl~ereon sball become due and pay- sble; each such instalment when paid aball be applied ~iat to the payment of iMerest on the unpaid 6alance at the In- terest Rate and tbe remainder thereof to peyment on account of principal. Ii any Instalment Payment ahall not j~e paid when due. then the entire principai sum and acciued inteiest here- under shall become due and payable at ogoe or thereafter, at tlie option of the holder of this Note. Tbe Payee may, at its option, collect s late charge aot to esoeed tvro cents for each one dollar ot each Instalment Payment not paid when due to reimburee the Payee for e:pensea of aerviciaa delinquent Instalment Payments. Failure to e:ercise these options al~all not conatitute a waiver of the right to e:ercise the same in the event of any subeequent default , It is furt6er agreed that the Makes and each endorser. aurety. guarantor. jointly sud severallY, ahall pay all costs of collection of this Note, includins a reseonable attorney's fee. on failu~+e to pay any Inatalment Payment or any aocrued interest due hereunder oa the due date thereof. 'Thia Note and all aums due hereunder a6a11 bear inter~t at tbe hiahest lawful rate of interest per annum in the 3tate of Florida from the date when the principal and accrued interest ander thia Note al~all be due and payable. The tatal intereat payable hereunder ahall not in any one y~r e:ceed ihe highest Iawful rate of intereat in the State of Ftorida. Thia Note is secured by a Mortgage. dated the date hereof, of property eituated in tbe 3tate of Florida. The Maker agrees that it ahall be boand by any agreement e:tending t6e time or modifying the above terans of payment, made by the Payee and the owner or owners of the pmperty affected by aaid Mortgage. whetber with or with- . ~ out notioe to the Maker. and the Maker shall continue liable to pay the amount due hereunder. but with intereat at a ! rate no gre~ter than tbe Inte~st Rate. aocording to the terma of any auch agreement of e:tension or modif'x~tion. ~ ~ € The unpaid balance of the Principal Amount, plus acerued interest s6a11 become due and payable at tbe option of f the Payee under tbe happening of an event by which said balanoe shall or ma~ beoome due and payable under the terms ~ of aaid Mortgage. r This Note may not be changed orally, but only by an agreement in writing. signed by the party againet whom en- forcement of any waiver, change, m~cation or diacharge ia soughk All {sartiee to thia Note, whether Maker. principal, surety, guarantor or endoreer. hereby waive presentment for ' payment, demand, protest, notice of protest. and notice of dishonor. and ezpreesly agree jointly and aeverally to remain and continue bound [or the payment of the principal and interest pmvided for by the terms of this Note, notwitbstanding any e:tension or e:tensio~ of tbe time of, or for the payment of said principal or intereat. or any change or changes in the amount or amounta agreed to be paid under or by virtue of the obligation to pay pmvided for in thia Note. or any change or changea by way of release or sarrender or suhstitution oI any real property and collateral, or either. held as ~ security for thia Note, and v?aive all and every kind of notice of such eztension or e:tensiona, change or changes, and ~ agree that t6e same may be made wit6out the joinder of the Maker. ~ ~ ~ ~ ~ ~ ~ , / s/ Jo a eph Thoma s B roughton ~ ' ~ - ~ ~ ~ / s/ Patricia A. B roughton ~ _ ~ ~ ~ ~2838 ~ - ~ ~T ~ R.'IN !!J - PIUIfIIG A LAJ~ ~ ~ ~ ~.3',4.~,Wy, Y ~ '4 ; : ~~13 ~Y'~ -s~ %T~ "1,. ~~-5 a `~g .~_e'G 3~~~~ ~ ~ ~'a._ . i 1 `~z _ ti ~f .~N i.v~~t".$~~"„~'v2 .