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MORTGAGE NOTE
Principal Amou~t: $10,000.00 Date of Note: ApriZ 28, 1978
Maturity Date: April 28, 1978 ~
Interest Rate: 9~$
Amortization Period: From the day hereof to Maturity Date.
Instalment Payment: .
ylV ~U~U. VU klllib 1l1VCLGj1~~.
First Instalment Payment Date:
due April 28, 1979
The Payee: g~ gank of St . Lucie County
Address: 111 Orange Avenue, Fort Pierce, Florida;,33450
FOR VALUE RECEIVED, the undersigned and if more than one, jointly
j and severaliy (the Maker), does hereby covenant and promise to pay to the
E order of the Payee, or to its successors or assigns, at its principal office, or
~ 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- .
I gether with interest at the Interest Rate on the unpaid balance of the Principa!
' Amount.
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The sums due and owing hereunder shall be payable during the
Amortization Period in equat monthly instalments, each in the amount of ihe
Instalment Payment, the first such tnstaiment Payment to be made on the First
! Instatment 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 payabte; each such instalment when paid shall be applied first to ihe pay-
ment of interest on the unpaid balance at the Inierest Rate and ihe remainder
thereof to payment on account of principal .
if any Instalment Payment shall not be paid when due, lhen the entire
principal sum and accrued interest hereunder shall becot~e due and payable
at once or thereafter, at :he option of the holder of this Note. The Payee may,
at its option, coltect a late charge not to exceed iwo cents for each one dollar
of each Instalment Payment not paid when due to reimburse the Payee for
expenses of servicing delinquent Instalment Paymenis. Failure to exercise
these options shall not cohstitute 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 atiorney's fee, including all costs, expenses and
attorney's fees for any retrial, rehearing or appeals, on 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 lawful rate of interest per annum in tfie State of Florida from tt~e date
when the principal and accrued inierest under this Note shall be due and
payable. The total interest payable hereunder shall not in any one year
exceed the highest lawfu! rate of interest in the State of ~lorida.
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