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Home My WebLink About1622 r • t , r ~ ~~CRY~N(NTI ~ ! 1 r MORTGAGE NOTE ~ Principal Amount: $S ~ 000. QO Date of Note: 11uyt~t 7• 1975~ Maturity Date: 60 ~pp~~ Interest Rate: 9~/ Amortization Period: From the day hereoi-io the Maturity Date. Instalment Payment: S~.OS. ~l Firet Instalment Payment Date: Septdi~~.r 10 ~ 1975 FOR VALUE RECEIVED~ the undersigned and if more than one~ jointly and aeverally (the Maker). dces hereby covenunt and pmmise to pay to the order of Sun Bank of Sk Lucie County or to its suceessora or asaigna (collectively the Payee). at ita principal office at 111 Orange Ave., Fort Pierce~ Fla. or at such other place sa ihe Payee may designate to the Maker in vrriting from time to time, in legal tender of the United States~ the Principal Amount together with interest at the Interest Rate on the unpaid balance of the Principal Amoun~ The auma due and owinR hereunder ahall be payable during the Amortization Period in equal monthly inatalmenta. eacl~ in the amonnt oi the Instalment Payment, the tirat such Instalment Payment to be made on the First Inatalment Payment Date and subeequent Inatalment Paymenta on the [irst day of each month thereafter unW the Maturity Date whereupon the entire unpaid balance of priricipal and inteseat accrued and unpaid thereon ahall become due and pay- ~ able; each auch instalment when paid shall be applied first to the paytnent of intereat on the unpaid belance at the In- terest Rate and the remainder thereot to payment on account ot principal. ~ If any Instalment Payment shall not be paid when due. then the entire principal sum aad accrued intereat here- under shall become due and payable at onee or thereafter, at the option of the holder of thia Note. The Payee may, at its option, rnllect a late charge not to ezceed two cents for each one dollar of each Instalment Payment not paid when due to reimburae the Payee tor e:penses of aervicing delinquent Instalment Paymenta Failure to e:ercise these optiona shall not conatitute a waiver of the right to e:ercise t~ eame in the event of any subeequent default It is further agreed that the Maker and esch endoreer, aurety. guarantor. jointly and aeverally. ahall pay all costa of collection of thia Note, including a reasonable attorney's fee. on failure to pay any Instalment Payment or any accrued interest due hereunder on the dae date thereof. This Note and all suma due hereunder shall bear intereat at the highest , law[ul rate of interest per annum in the State of Ftorida [rom the date when the principal and acrrued interest under this Note ahall be due and payabie. The total intereat paysble hereunder ahall not in any one year e:ceed the highest lawtul rate of interest in the State of Florida. I This Note is secured by a Mortgage, dated the date hereof, of property aituated in the 3tate of Florida. II The Maker agrees that it shall be bound by any agreement extending the time or modifying the above terms of E payment, made by the Payee and the owner or ow~nera of the property affected by said Mortgage, whether with or with• 3 ; out notice to the Maker, and the Maker ahall continue liable to pay the amount due hereunder, but with interest at a ~ 3 ~ rate no greater than the Interest Rate, according to the terms of any such agreement of eztension or modification. ~ ~ ~ The unpaid balance of the Principal Amount, plus accrued intereat ahall become due and payable at the optioa of ~ the Payee under the happening of an event by which said balanoe ahall or maq become due and payable under the tern~s ~ ~ of said Mortgage_ ~ _ ~ This Note may not be changed orally, but only by an agreement in writing. signed by the party againat wham en- ~ forcement of any waiver, change, modification or discharge is soaght. e All parties to this Note, whether Maker, principal, surety, guarantor or endorser. hereby waive presentment for ~ payment. demand, protest, notice of ptotest, and notice of dishonor, and eYpressly agree jointly and severally to remein ~ and continue bound tor tbe payment ot the principal and interest provided for by the terms of thia Note, notwithstanding any eztension or e:tenaions of t6e time of, or tor the 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 obligation to pay pmvided for in this Note, or any ' change ot changes by way of releaae or surrender or substitution of any real property and collateral. or either, held ae security for this Note, snd vraive all and every kind of notice o( snch extension or e:tensions, change or changea, and agree that the same may be made without the joinder of the Maker. ~ 1217 Avsnus L ~ - ~ ~ /s/ Solomon K. Smith ~ ~ ~ ./sJ Jerolyn t4. - Smith ~ ~ Bo~K 242 PA~f 1625 ~aar su - rRtrrrr sr ¢Nnr ~ ' ' . ` ~ . ~~2~,~ a~ ~::-=~x~ 3 s s~ n~',~~,~~~~ _ . F" ~