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Home My WebLink About0225 MORTGAGE NOTE s 70, 833. 38 March 10 19 ~g Fo~ ralue received, the undersegncd jointly snd sever~lly promiu to pay to the otder of FTRCT t~jATT()NAL BANK QF FORT PIERCE, P.O. Box 970, Fort Pierce, FL 33450 Seventy thousand,ei ht hundred thirt -three and38~100 ~ the principal sum oi w~th interest thercon from dace at the nte of pe: ant per annum: the interest and prinripal ot this note to be paid as follows: Beginninfon June 15 ,19 78 ,thewmot $4.166.66 each quarter, x fo ~c~aar4ao~o~xao~xtii~o~c~cbccr~ad- for 15 consecutive quarters, and one final quarterly payment of $4,166.82, plus interest at the rate of 10 per cent per annum. x~xx~~ x~sso~c~~c ~t ~w~c.tixx~c~~ ~"~~c~aa~ All payments of intercst and principaJ are payabie at the• office of the payce in the ciiy :bove set forih, oi at such other place as thr holder may designate in writinle, in lawiul money of the UnitM Sutts. If any of said paymenis of interest and principal shall not be paid when due then the entire principal sum and acerued interest shall become due and payable at once, at the option of the holder ot this note. ' This note is to be rnnstrued and enforcod aceordins to the laws of the State of Florida, and u ucured by mortgage on real ' esute Datod Mareh 10 .~g 78 , !f detault be made ~n the payment ot any of uid sums or interest or in ihc performance of any agreements contained here, . or in per(ormance of the terms of the mortp~e secutinE this note, then, at the opiion of the ~oldet of the same, the principal sum then remaining unpaid with iccrued inte~est shaU immedutely become due. payable and collec6bk without notice, tune bein~ of the essena of this conuact, and uid pnncipal wm and said accrued interest shall beu interat at maximum nte then allowed by law, from such time uritil paid_ The holder es given and ap,reed to have the right oC xtoff ~ainst all deposits, accounts, ~ crcdi~s and other property of each maker, guanntor and endorut in posussion or control of the holder for any and vanous sums due hereundet, without requirement of notice. My langwge in said note or mort6age to the contruy notwithsunding, no intercst shall be charged or collected in exceu of ihat allowed by Florida law. and in the event of the accelention of the mortgage, and ihe notes secured thereby, any prepaid and unearned intecest and points in excess of a lawful ratc of inte~cst to the date of enforcement of paym~nt shall thereupon be ntundod to the Mortgagor automatinlly ~y the crediting of same against the sum then due, but such crcdit shall not cure or waive any default occasioning accekntion. i ~ Each maker, guuantor and endorser waives presentment, protest, notice of protcst and notice of dishonor and agees to aU ~ costs, including a rusonable aitorney's fee and any attorney's fees incurted on ~ppeal, whethet suit be brought or not, if counsel € shall aftet matutity of this note or default hereunder or under said mortgage, be employcd to collect this note or to ptotect the ~ security thereof. ~ ~ DETAIIS OF LOAN _ ~ i C7~eck if appGc~ble: 1. $7 No notiee of recission tcquired 3. D Notice of reciuion required ; 2_ ~J No tloodpin{-sunnce re mred ? Flood insurance required ` MORTGAGE PAYMENTS made jd~:.'KBgBo~~rH~~~C'8a~~y~iBtDf~Y%xxxxxxxSQf6, the fint of said pay- menis due ~T11Y1@ ~-5 , l9~_. Payments may include tu and insurance escrow. CpNSTRUCTION LOAN (if applicable): Interest accrued at % pet an~um payat+k up to N~A 9 , on amounts ~ disbursod trom thc construction fund, on that datt regulu payments bepn. - S ` INSURANCE: Ctedit iife and/or diubitity inwnnce not required, ofkred or provided fo~. Properiy insurance (fire ~nd casualty) u requirad. Flood inwnnu in certain desigruted uas is also requued. Mortga6e life insurance is not required. Such insutance u : is required or desired may be obtained from or throu6h any duly licenxd person or company that Borrower may choose, subject ' to Lender's right to refuse an insurer for aood nuse. The Bank can, if you wish, unnge for mongage tife insurance, but not for property insunnce, fue insurance or flood iasunnct. ~ LATE PAYMEM' AND DEFAULT: Borrowen ue subject to a late chuEe not to exceed 296 ot any inst~llment unpaid for 10 days afte~ the due date with a minimum chuge as may be trasonably impostd by the bank from time to time; after default or maturity the principal sum remaining unpaid and acctued interest shall both bear interest st the mazimum rate ihen allowed by ; law. Borrowers shaU pay all costs of coltection. ~ SF.CURITY AND SEI'OFF: Loan is ucured by a mortpge of Mareh ~.0 , 191~ on the ral esate described. t iherein togeiher with aU appliances and items now or herafter attached to or placed on the property and considered fixtures. The Bank is given the right of setoff apinst ap deposits, credits and other property of Borro~ven in the possession or control of the Bank, for the indebtedness, though unmatured. The mon~age will secure future or other indebtedncss and will cover after acqu'ved property. PREPAYMENi: Borrowen may at any time prepay in fuU or in part any unpaid balance withoutpe mlty. - My partial prepayment shall be applied aaainst ihe wms wAith witt last become due hereunder but shall not otherwise sffeci the ; due dates of ~mounts of payments~ ASSUMPIION: !f assumption oC this loan is permitted by Bank, Bank will charge a scrvice ~ fce for said assumption. Such assumption shall be granted at the bank's sole dixretion. - 1 acknawledge tnc receipt oi a~v,~.~ eQ~ :.a~, cf :!:is :t~*.s r~ie! !4 Si~n~tlrr, a~x1 tfi~t It IS OORCCI. Maker's Address: 575 Lakeshore Drive ~Q~ ~ t (SEAL) rosse oin ores, a ou a~ Michigan 48236 ~,,i ~l ' J~7~~~i~[f~c~l'~ i-[f ~•C = (SEAL) ; (SEAL) , (SEAL) ~ tf c 2~~ ~ . ' B~~t ii~~ ~ TN~6 IMSTRUMENT,PAE?ARED SY : ~ F ? ~j CHARLES R.`Pr [~ROWN ~~'cF ~ V PI~iC:~~ p o eox ~a~s • 30~ s e,M st. ~ FDRT PIERCE. FLORIDA 334~0 ORiC1NAL ~ 'r.~ ] 6~ Rw 1/76 ~