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MORTGAGE NOTE
Principal Amount: S~,ooo.oo Date of Note: Jan. 9, 1978
Maturity Date: ~ive years
Interest Rate: 10$ per annum
Amortization Period: From the day hereof to Maturity Date.
Instalment Payment: g148.73 per month
First (nsta(me~t Payment Date: February 10, 1978
The Payee: SUN BANK OF ST. LUCIE COUNTY
Address: 111 Orange Avenue, Fort Pierce, Florida 33450
FOR VALUE RECEIVED, the undersigned and if more than onE, jointly
and severally (the Maker), daes hereby covenant and promise to pay to the
order of the Payee, or to its successors or assigns, at its principal office, or
i at such other 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 hereunder shall be payable during the
Amortization Period in equal monthly instalments, each in the amount of the
tnstalment Payment, the first such Instalment Payment to be made on the First ~
Instalment Payment Date and subsequent Instalment Payments on the~~day
of each month thereafter until the Maturity Date whereupon the entire unpaid
. balance of principal and interest accrued and unpaid thereon shall become due -
and payable; 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 payment on account of principal .
If any instalment Payment shall not be paid when due, then the entire
principat sum and accrued i~terest hereunder shalt become due and payable
at once or thereafter, at .he option of the holder of this Note. The Payee may,
at its option, coliect a late charge not to exceed two cents for each one dollar
of each tnstalmeni Payment not paid when due to reimburse the Payee for
expenses of servicing delinquent Instalment Payments. Failure to exercise
these options shatl not constitute a waiver of the right to exercise the same
~ in the event of any subsequent default.
it is further agreed ihat the Maker and each endorser, surety, guar-
antor, joi~tfy and severally, sha11 pay all costs of collection of this Note,
v including a reasonable aitor-ney's fee, including all costs, expenses and _
attorney's fees for any retriaf, rehearing or appeals, on failure to pay any
{nstalment Payment or any accrued interest due hereunder on the due date
thereof. This Note and ati sums due hereunder shall bear interest at the
highest lawful rate of interest per annum in the State of Florida from the date
~ w~en the prihcipal and accrued interest under this Note shall be due and
payabte. The total interest payabie hereunder shall not in any one year
~ exceed the highesl iawful rate of interest in the State of Florida.
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~ ~00~28~ Pa6E 492 ~
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