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MORTGAGE NOTE
Principai Amount• $55, 000.00 pate of Note• Noveinber 10, 1977
. Maturity Date: January I0, 1987
Interest Rate:
Amortization Period: From the day hereof to Maturity Date. -
Instalment Payment: $696.74 ~ ~ -
First I~stalment Payrrrent Date: January 10, 1978
T~ ~y~: Sun Bank of St. Lucie County
11~ Oranqe Avenue, Fort Pierce, Florida 33450
Address:
FOR VALUE RECEIVED, the undersigned 'and if more than one, jointly -
and seve~^ally (the Maker), does hereby covenant and promise to pay M the
order of the Payee, or to its successors or assigns, at its principal office, or
at such otMer place as the Payee may designate to the Maker in writing from
time to time, in legal tender of the United States, the Principal Amount to-
gether with interest at the Interest Rate on the unpaid balance of the Principal
Amount. ~
The sums due and owing hereuncier shaii be paya~ie duri~g fhe
Amortization Period in equal monthly instalments, each in the amount of the
instaiment Payment, the first such Instalment Payment to be made on the First -
~ Instalment Payment Date and subsequent Instalment Payments on the first.c~ay
of each month thereafter until the Maturity Date whereuFwn the entire unpaid
~ balarxe of principal and interest accrued and unpa~d thereon shail become due
and payable; each such instalment when paid shall be appiied first to the pay
ment of interest on the unpaid balac~ce at the Interest Rate and tt~e remainder
thereof to payment on account of prirxipal .
If any Instalment Payment shali not be paid when due, then the entire
principai sum and accrued interest hereunder. shall become due and payable
at once or thereafter, at the option of the holder of this Note. The Payee may;
- ~t its option, coliect a late charge not to ^xceed tvro cents for each one doilar
of each Instaiment Payme~t not paid when due to reimburse the Payee for
expenses of servicing delinquent Instalment Payments. Failure to exercise
these options shall not constitute a waiver of the right to exercise the same
in the event of any subsequent default. -
It is further agreet~ that the Maker and each endorser, surety, guar-
antor, jointiy and severally, shatl pay al! costs of collection of this Note, ;
including a reasonable attorney's fee, inciuding all costs, expenses and
attorney's fees for any retrial, reheari~~ or appeafs, on failure to pay any ~
instalment Payment or any accrued interest due hereunder on the due date ~
thereof. This Note and all sums due here~.der shall bear interest at the
highest lawfu! rate of interest per annum in the State of Florida from the date
when the principal and accrued interest under this~fote shal! be due and
payable. The total interes; payable hereunder shall not in any_one year
euceed the highest lawful rate of interest in the State of Florida.
sooK277 ~~E 43z - .
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