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MORTGAGE NOTE
Principal Amount: SS,ppO.pp Date of Note: - ~
~bv. 7, 19?7
~ Maturity Date: 3 ysars
Interest Rate:
9` per aanum
Amortization Peria~i: Fro~ the day hereof to Maturity Date.
Instalment Payment: ,Z~.~p ~ ~nth .
First instalment Payment Date~~~ry -1, 1978 ~ ~
The Payee: Stu~ sAt~ oF sr. LpC~ c~ouN'1'Y-
Address: 111 Oranqe ~ve.,-Fort Pierce, Fla. 334~0
FOR VA~UE RECEIVEQ, the under~igned and if more than one, jotntly ~
and severaily (ihe Maker), does hereby covenant and promise to pay to the
order of the Payee, or to its successors or assigns, at its principa~ office, or
at such other piace as the Payee may designate to the Maker in. writi~g from
time to time, in legal tender of the U~ited States, the Principal Amount to-
. gether with interest at the Interest Rate on the unpaid bafance of the Principal
Amount.
The sums due and owing hereunder shall be payabie during the ~
Amortization Period in equai monthly instalments, each in the amount of the ' ~ ~
Instalment Payme~t, the first such In~talment Payment to be made on the First a
Instalment Payment Date and subsequent Instalment Payments on the first day -
of each month thereafter until the Maturity Date whereupon the entire unpaid
balarxe of principal and interest accrued and unpaid thereon shail become due
and pay~~~le; each such instalment when paid shall be applied first to the pay-
ment of interest on the unpaid balance at the Interest Rate and the remainder
thereof to payme~t on account af principal .
If any Instalment Payment shall not be paid when due, then the.entire
principal sum and accrued interest hereunder shall beoome due and payabfe
at once or thereafter, at the option of the hc~lder of this Note. The Payee may,
. at its option, coilect a late charge not to exceed two cents for each one doliar ~
of each Instalmeni Payment not paid when due to reimburse the Payee for
expenses of servicing delinque~t instalment Payments. Failure to exercise
these options shall not co~stit~te a waiver of the right to 4acercise the same
in the event of any subsequent defauit.
It is further agreed that the Maker and each endorser, surety, guar- ~
antor, jointly and severally, shall pay all costs of collection of this Note,
inciuding a reasonabie attorney's-fee, jncluding all costs, e~cpenses and -
attorney's fees for any retriaf, rehearing or appeals, on failure to pay any
instalment Payment or any accrued interest due hereunder on the due date
thereof. This Note and ali sums due here~mder shaii bear interest at the
highest lawful rate of inte~est per annum in the St~te of Florida from the date
when the principal and accrued interest under this Note shall be due and
payabie. -The total interest payable hereunder sh~li not in any ons year
exceed the highest lawful rate of interest in the State of Florida.
600K ~ 1 I PAGf ~