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HomeMy WebLinkAbout0799 1 ' MORTGAGE NOTE S 71, 500. OO j}~c~aml»r 2 3 , ~q77 For valuc ceceived, the undersigned joinUy and seve~ally promise to pay to tha ordei of ~ FIRST NATIONAL BANK OF FORT PIERCE, the principal sum of ' -"~'~"""°~"Dollars, with inte~est thereon from date at the nte of per cent per annum; the interat and principal of this note to be paid a: fouow~s: . se~ ~a~a ~-~x ~a Beginning on ~~Y .19 78 the wm ot 63/1~~"--- 46. 3) -----pollan. and lhe same amount on the same day of tach month for 180 consccutive months until this note is paid. 'Ihe aforesaid payments ue to be applied fint to interest at the rate aforesaid due upon the principal s~m or so much thereo( u shall from time to time remain unpa~d. and ihe balance of qch payment shaU be applitd to ihe red~lctan of the principal. Aii payments of interest and priacipal aro payable at the ofC~ce ot the payee in the city above set forth, or at sucfi other ~ placr as the holder may designate in writing. in lawful money of the United Sptes. If any of said Payments of interest and principal shall not be paid whe~ due then the entire principal sum and accured interest shaU become due and payabk at once, at the option of the holder oC this note. This note is to be construed and enforced accordinE to the lav~r of the State of Florida, and is secnred by moriga~e on teal aate naeee 2 3 ,19~. If defautt be made in the payment of any of said sums or intecest or in the performance of any a6raments contained here. or in pedormance of the terms of the mortgagee securing this note, then, at the option ot the holder of the same, the principal wm Ihen remaining unpaid with accrued interest shall immediatety become due, payabk and coUectibk without notice, time being of the essence of this contract, and said principal sum and said accrued interest shall bou interest3tt maximum nte then allowed by law, from such time until paid. The holder is given and ageed to have the right of setoff agains4 all deposits, accounts, credits and other properiy of each maker, gwnntor and endorser in possession or control of the holder fot any and various sums _ due hereunder. without rcquircment o[ notia. My Isnguage in said note or moctgaae to the contruy notw~ithstanding, no interest shaU be charaed or coUected in excess of ihat alloyvod by Florida law, and in the event of the accskration ot the mortgage, and the notes xcurcd thereby, any prepaid and uaearncd interest and poiats in excess of a lawful nte of interest to the date of enforcemeat of payment shall thercupon be refunded to the Morigaaor automatiaUy by the ctediting of same against the sum then due. but such aedit shaU not cure or waire my detault occasioning accelention. Each maker, guaru?tor and endorser waives prexntment, protat, notice of protat and notice of dishonor and agras to all oosts, iacluding a rasonable attomey's fee and any attorney's fees incurred on appeal, ahether wit be brought or not, if counsel s1uU after maturity of this note or default hereunder or under said mortga6e, be employod to colkct this aote or to protect the . security thercof. ~ DETAILS OF LOAN (]rcck it applicabk: 1. ~ No notice of ncission required 3. O IVotice of rccission required 2. [a No fluod insurance requited 4_ O Flood insurance rcquired MORTGA PAYMENTS madc in 180 conserutive'~~V WY~nts of S~46. 63 , each, the first of said pay- . ments due~~~~y , 19~8 . Payments may include tax and insurance escrow. (if ~ applipble): lnterest accrued at ~ pec annum payabk up t , 19 , on amounts • ~ disbursed tmm the co~iruction fund, on that date regular payments begin. ~ INSURANCE: C~edit life and/or disability inwrance not rcquired, ofkrcd or proviAed for. Property inwnnce (fire and casualty) ~ is required. Flood insunnce in certin designated uas is also rcquired. Mortgage life insuranoe ts not requited. Such inwrance as I is roquired or desiced may be obtained from or through any duly licensed person or company that Bonowa may choose, subject ~ to Lender's right to rcfuse an insurer tor good nuse. The Bank can. it you wish, unnge for mortgage life insunnce, but not for property inswance, fue insurance or ftood insurance. LATE PAYMENT AND DEFAULT: Bortovwen ue wbject to a late charge not to exceod 2% ot any installment unpaid for 10 days aftet the due date with a minimum charge u may be reasonabty imposed by the bank trom time to time: after default or maturity the principal sum remaining unpaid and accrued interest stull both bear interest at tMe maximum rate then alloared by law. Borrowers shall pay all oosts of cdkction. SECURITY AND SETOFF: Loan is saurod by a mortgage of ~~r 2 , 1977 on the real esute above des~ ~ cribed, tosether with all appliu?ces and items nmv or hereafter attuhed to or placed on the property aod conside~ed fixtures. The Bank is given ihe right of setoff apirut all deposits, credits and othet property of Borrowen in the possession or mntrol of the Bank, for the indebtedneu, thouah unmaturod. The mortgage aill secun future or otha indebtedne~s and will corer after acquired property. PREPAYMENT: Borrowen may at any time prcpay in full or in pari any unpaid balana withoutpe rolty. My putial pnpayment shall be applied aaainst the wms which will lut become due hereunder but shall not otherwise affect the due dates w amounts of payments. ASS[JMPTION: If assumptan of this loan is permitted by Bank. Batdc will charge a service fce for said auumption. Such uwmption shall be 6ranted at the bank's sole discrction. . 1 acknowledge the receipt of a rompleted copy of this note prior to signature, and that it is cortect. :lfaker's Addrcss: ~ l~,~/ ~ r ~~.~f- ~ r ~ I ?'V /V?i , ~ ~fSEAL) ~ • ~ (SEAL) ~ ~ ~ ~ A ~ ~ / (SEAL) ~ 8 .ER PQ:iRI~g ' ~ ~ , c-r ,~~cGUlt Cct1R~~ ` r~iP-~.r+r (SEAL) ~ p~ ~~7 I I i: 4N'~~ ~ 3~3860~ ~ ~ : CUSTOMER COPY g~~~~ ~ ~ ~ F BS 164 R~v. 4/76 ' ~ .