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Home My WebLink About0925 . . . _ - . . . . : . . . _ . . ~ k r ~ ! S / • . ~ . 4 Z V ' . . • • ~ , , . } (Co~struction 8 Permanent) f ~ ~ ~ MORTGACE NOTE i Amount of the Note: S3S,000.00 Date of Note: Decembsr 23, 1977 ~ Maturity Date: February 10, 1993 ~ r ~ i 1 nterest Rate: ~ Interest Period: From the date hereof through Amortization Period: From the date aRer the Interest Period to the Maturity Date. Instalment Payment: S3SS.00 ~ First Instalment Payment Date: Februsry 10, 1978 ` The Payee: Sun Bank o! St. Lucie Connty ~ Address: 111 Oranqe Aveaw, l~ort Pierca, Flor3da 33450 ~ FOR VALUE RECEIVED, the undersigned anci if more than.one, jointly and severaliy (the Maker) , does hereby covenant and promise to pay to the order of the Payee, or to its successors or assigns, at its principal offioe, or at such other piace as the Payee may designate to the Maker in writing from time to time, in legal tender of the United States, the Amount of the Note or so much thereof as may be advanced (the Principa~ Amount) by the Payee pursuant to a oonstruction loan agreement or loan commitment, between the Maker and the Payee, bogether ! with i~terest at the Interest Rate on the unpaid balance of the Principa! Amount. ~ _ .i ~ During the Interest Period interest from the date of each advance, at the ~ Interest Rate, shall be payable monthly on the first day of the month foliowing ~ the month in which the flrst advance is rinade and.on the first day of each month ' j thereaRer; during the Amortization Period equal monthly instalments, each in ihe ~ ~ ~ amount of the Instalment Payment, the first such Instaiment Payment to be made on ; the First instaiment Payment Date and subsequent Instalment Payments on the first ~ ~ day of each month thereaRer until the Maturity Date whereupon the entire unpaid ~ , balsnce of principal and interest accrued and unpaid ihereon shall beoome due and ~ ~ payable; each such instalment when paid shali be applied first to the payment of ~ ~ interest on the unpaid balance at the Interest Rate and the remainder thereof to 3 payment on acoount of pri~cipal. ~ q ~ F ~ If interest or any Instalme~t Payment shall not be paid wher~ due, the~ the ~ ~ entire principai sum and accrued interest heretu~der sha11 beoume due and payable { at once or thereafter, at the option of the holder of this Note. The Payee may, at ~ its option, coilect a late charge not to exceed two ce~ts for each one dollar of each = ~ Instalment Payment not paid when due to reimburse the Payee for expe~ses of ser- ' x vicing delJnquent Instalment Psyments. Failure to exercise these optians shall not ~ oonstitute a waiver of the right to exercise the same in the event of any subsequent , ~ default. - ~ ~ ~ ~ It is further agreed that the Maker and each e~dorser, surety, guarantor, ~ ~ jointly and severally, shall pay ail oosts of o~llection of this Note, inciuding a ~ ~ reasonabie attorney's fee, including ail costs, expenses and attorney's fees for ~y ~ ~ retrial, rehearfng or appeals, on failure to pay anr Instalment Payment or a~y ' ~ accrued interest due hereunder on the due date thereof. This Note and all sums due ~ hereunder shall bear interest at the highest lawfui rate of interest per annum in ~ the State of Florida from the date when the principal and accrued interest cmder ~ ~ ~ ~0~2?'9 ~ 9~~4 ~