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HomeMy WebLinkAbout0667 ~~ERwAN[NTI MORTGAGE NOTE ; ~ ' f , Principal Amount: $ g~ OOO. 0~ Dnte ot Note: ~CEi~Jer 31 ~ 19? 5 i ~ Maturity Date: 5 y~~g ~ x Interest Rate: 9 $ ; ~ Amortiaation Period: From the day hereof to the Maturity Date. ~ Inatalment Payment: $166.07 • ~ i First Instalment Payment Date: `7anual~ 30 , 14? G ~ . ~ t ~ FOR YaLUE RECEIVF:D, the undersigned and if more than one, jointly and severally (the \laker), docs hereby ~ co~enunt and promise to pay to the order of Sun Bank of St. Lucie County or to ita successora or assigns (collectively the Payee), at its principal office at 111 Orange A~e.. Fort Pierce. Fla. or at such other place r.s the Yayee may designate to tha Maker in writing fmm time to time, in legal tender of the United States, the Principal Amount together H-ith interest at the Interest Rate on the unpaid balance of the Principal Amount. The sums due and owinR hereunder shall be payable during the Amortization Period in equal monthly instalmenta, each in the amount ot the Inatalment Payment, the tirst such lnstalment Payment to be made on the First Instalment Payment Date and subsequent Instalment Payments on the first day ot ~ch month thereatter until the Maturity Date whereupon the entirn unpaid balance o( principal and interest accrued and unpaid thereon shall become due and pay- able; each such instalment when paid shall be applied first to the payment of interest on the unpaid balance at the In- terest Rate and t6e remainder thereot to payment on account ot principal. If any Instaiment Payment shall not be paid when due, then the entire principal sum and acrrued interest here- ' under ahali become due and payable at once or thernafter, at the option of the holder of this Note. The Payee may, at its option, collect a late charge not to esceed two cents for each one dollar of each Instalment Payment not paid when due to reimburse the Payee for ezpenses of aetvicing delinquent Instalment Payments. Failure to exemise these options shall not constitute a waiver of the right to exercise the same in the event of any subeequent default. It is further agreed that the Maker and each endorser, surety, guarantor, jointly and severally, shall pay all costs of coliection of this Note, including a reasonable attorney's fee, on failure to pay any Instal:nent Payment or any acrrued interest due hereunder on the due date thereot. This Note and all sums due hereunder shall bear intetest at the highest lawful rate of interest per annum in the State of F[orida from the date when the principal and accrued interest under this Note ahall be due and payable. The total interest payable hereunder shal! not in any one year exceed the highest ~ lawful rate of interest in the State of Florida. . i ! This Note is secured by a Mortgage, dated the date hereof, of property situated in the State of Florida_ ! 1'he Maker agrees that it shall be bound by any agreement e:tending the time or modifying the above terms of ~ payment, made by the Payee and the owner or ovmers of the property atfected by said Mortgage, whether with or with- ~ out notice to the Maker, and the Maker shalt continue liable to pay the amount due hereunder, but with interest at a ~ rate no greater than the Interest Rate, according to the terms of any such agreement of extension or modification. ~ The unpaid balance of the Principal Amount, plus acctued interest shall become due and payable at the option of the Payee under the happening of an event by which said balance shall or may become due and Qayable under the terms of said Mortgage. ~ T6is Note may not be changed orally, but only by an agreement in writing, signed by the party against whom en- ~ fomement of any waiver, change, modification or discharge is sought. All parties to this Note, whether Maker, principal, surety, guarantor or endorser, hereby waive presentment for payment, demand, protest, notice of protest, and notice of d~honor, and e:pressly agree jointly and severally to remain and continue bound tor the payment ot the principal and interest provided for by the terme o( this Note, notwithstanding any e:tension or extensions of the time o(, or (or the payment of said principal or interest, or any change or changes in the amount or amounts agreed to be paid under or by virtue of the obligation to pay provided for in this Note, or any change or changes by way of release or surrnnder or aubstitution of any real property and collateral, or either, held as security for this Note, and w-aive all and every kind of notice of such extension or e:tensions, change or changes, and ~ agree that the same may be made without the joinder of the Maker. • - Route 3, IIox '4~1~3 ~ Fort Pier~e, Florida 3345~J . ~ ~ ~ ~ /s/ Clarence H. Prescott ~ - ~ ~ ~ /s/ Elaine Prescott ~ ~ ~ ~~K ~4 7 ~f tLYM )tl - FFl.P.':R~: FT hEARf > . r_ K . - ._~3 § , _ . _ _ . _