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MORTGACE NOTE
Principal Amount: 511,000.00 Date of Note: ~?~3nuar~ I~-, 1978
Maturity Date:
Interest Rate: 8 3/4 $ ~
Amortization Period: From the day hereof to Maturity Date. Janua r:: i`~'~ 3
Instaime~t Payme~t: $227.01
First lnstalment Payment pate: Fet~ruary ~5, 1978
The Payee: Sun Bank of St. Lucie County
~ Address• ~00 Virginia Ave.
4 ~ Fort Pierce, Florida 33450
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i FOR VALUE RECEIVED, the undersigned and if more than one, jointly
~ and severaily (the Maker), does hereby covenant and promise to pay to the
~ order of the Payee, or to its successors or assigns, at its principai office, or
~ at such other place as the Payee may designate to the Maker in v~riting from
~ time ia time, in legal te~der of the United States, the Principal Amount to-
~ gether with interest at the Interest Rate on the unpaid balance of the Principal
Amount.
~ The surns due and owing hereunder shall be payable during the
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i Amortization Period in equal monthly instatments, each in the amount of the
' Instalment Payment, the first such Instalment Payment to be made on the First
i Instalment Payment Date and subsequent Instalment Payments on the first 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 i~terest on the unpaid balance at the Interest Rate and the remainder
thereof to payment on account of principal
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If any Instalment Payment shall not be paid when due, then the entire
principal sum and accrued interest hereunder shall become due and payable
at once or thereafter, at :he option of the holder of this Note. The Payee may,
at its option, collect a late charge not to exceed two cenis for each one dollar '
of each Instalment Payment not paid when due to reimburse ihe Payee for
expenses of servicing delinquent Instalment Payments. Faiture 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 agreed that the Maker and each endorser, surety, guar-
antor, jointly and severally, shall pay all costs of collection of this Note,
including a reasonable attorney's fee, including all costs, expenses and ;
attorney's fees for any retrial, rehearing or appeals, on failure to pay any k
Instalment Payment or any accrued interest due hereunder on the due date
thereof. This Note and all sums due hereunder shall bear interest at the
highest lawful rate of interest per annum.in the State of Florida from the date
when the principal and accrued interest under this Note shall be due and
payable. The total interest payable hereunder shall not in any one year
exceed the highest lawful rate of i~terest in the State of Florida.
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~ - 5- BooK 281 ~~E 698 ~
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