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HomeMy WebLinkAbout0183 . ' ~ : , . 1 , ' ' , ~ i ~ . t ~ HORTGACB NOTB I . _ i s ~ DATB OF NO?E: May 1, 1978 ~ ~ PBINCIPAL AHOUNT: $25,000.00 ; ~ ' INTERHST RATB: 9x per aaaua ; I~lATRRITY DAT.S: March 31, 1983 . - . • ~ ~ AMORTIZATION PBRIOD: 6 years, 11 monihs fros May l, 1978 • , ~ ~ ANNUAL INSTAI.LMBNT PA4l~NT: $5,000.00, plus interest - • ~ e FIRST INSTALLMBNT PAYMENT DATS: Marcb 31, 1979~ . ~ ! ~ ~ FOR VAI:UE RBCBIV$D, th~ undersi ~d, jointl and severally (the MakQr),~ i i 8a Y does hereby covenaat and pzomisa to pay to the Order of COLIN CAI~BBLL and COISH CAMPBSLL, JB., or to theit successors or assigns (collectively - ~ the Payee), at ZO1 Fisharmaa's i~Tharf, Port Pierce, Florida 33b50, or su~h ' other place as the Payee may desigaate to tha Mske~c ia writing fros tia~t to timQ, ia 1ega1-tender~of the Dnited Statea, the Principal am~unt togetb~s ~ vith iuterest ~t the interest rate on the unpaid balance of the priacipal amonat. - , . . . The sa~ due and a+~tng hereander shall be payable during the A~rartizat3onr ; Period in_equal annual installments, each in the amount of the Inata~.la~nt ~ Payment, the first sucb Installment Paymept tQ be made on the Firat Install- ~ ment Pa;~meat Date and subsequeat Install~ent Payseot on the 31st day of Harcb eaclx year thereafter until the MaturitT• ~ate Whereupon t2ie enLire uapaid balance of principal aad interest aacrued and unpaid•tbereoa shall --become due and payabZe; each such iastallmeat vhen paid s~all be appli~d first to the paymeat of~interest on tbe uapaid balance at the Intere8t-Bate sad the remainder thereof to.paymeat an accouat of Principal. - If aay Installmeat Paymeat shall not be paid vhen due, then the entire principal sum and accrued interest hereunder sha~l become due and payable , at once or thereafter,~at the aption of the holder of this Note. The y Payee may, at its optioa, collect a late charge_not to ezceed t~ra ceats for ~ ~ ~ each one dollar of each Installment Payment no~ paid zrhen due to reineburse ~ the Payee for expenses of servicing~delinquent Installmeat Pay~ents. Failure' ~ to exercise the$e options sha11 not constitute a waiver of tbe right to ~ exercise the same in the event of any subaequeat default: - t It is #urther agreed ~that the Malcer a~d eacb endorser, surety, guarantor, ~ joiatly and severally, shall pay all costa of collectian of this Note, ~ . including a reasonable attorney's fee, on failure to pay any Ins*A~t~++t . Payment or any accrued interest due hereuader an tbe due date.thereof. 2hfs note and all suns due hereusder stiall bear interest at the highest laWful rate of interest per annua in the State of Florida from the date when ths~ priacipal and accrued interest uader this Note sha12 be due and payable. ,The total interest payable hereunder shall not 3.u any oae year exceed tba ~ highest 1aWful rate of interest in tbe State of Florida. . This nate is secured by~a mortgage, dated the date hereof, of property ~ situated ia the State of Florida. • i . ~ The maker agrees that it shall be bound by an agreement extending the tim~ ' ~ or modifying the above terms of payment, made by the Payee and the o~mer or i ~ ~ owners of the propertq affected by said Mortgage,.whether with or vitbout ~ ~ notice to the t~iaker, and the Maker shall contiaue liable to pay the a~uat due hereunder, but with interest at a rate no greater than the Intereat ! Rate, accordf.ng to ~he terms of any such agreemeat of extension or modifica- ~ i tion. " ~ , j . = The unpaid balance of the Principal Amount, plus accrued iaterest stiall ~ ji become due and..payable at the option of the Payee unde~ the happening of aa ! t- 3 event by which said balance shall or may become due and payable under the ~ i terms of said Mortgage. . i ~ ~ ~ 1 i ~ . _ . _ . ao~ 287 iB~Z ~ , . ~ ~ . ~ r.~-. . . ~ . - - - . _s: t~ . . , . . - r~``,''~~' ~~s r ~ . _ _ _ ~ ,,-._?~u _ _ .