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MORTGAGE NOTE ~
Principal Amount: 512,000.00 Date of Note: March 20, 1978
May 1, 1993
Maturity Date:
9k8
Interest Rate:
Amortization Period: From the day hereof to Maturity Date.
Instalment Payment: 5123.51 _
May •1, 1978
First Instalment Payment Date:
Sun Bank of St. Lucie County
The Payee:
lIl uranqe Avenue, Fort Pierce. Ftorida 33450
Address:
FOR VALUE RECEIVED, the undersigned and if more than one, jointiy
and severally (the Maker), does hereby covenant and promise to pay to the
order of the Payee, or to its successors or assigns, at its principal office, or
at such other place as the Payeg 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
! Instalment Payment, the first such Instalment Payment to be made on the First
~
; 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 suci~ 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
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 ifs option, collect a late charge not to exceed two cents for each one dollar
of each Instalment Payment not paid when due to reimburse the Payee for
~ expenses of servicing delinquent Instalment Payments. Failure to exercise ~
these options shall not constitute a waiver of the right to exercise the same
~ in the event of any subsequent default.
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~ It is further agreed that the Maker and each endorser, surety, guar-
r antor, jointly and severally, shall pay all cosis 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, o~ failure to pay any
~ 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 )awful 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 payab~e hereunder shall not in any one year
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~ exceed the highest lawful rate of interest in the State of Florida.
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