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' (Permanent~
_ MORTGAGE NOTE
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' Principal AmoGnt: 520, 000. 00 Date of Note: May 2C, 1978.
~ Maturity Date: July 1, 1988
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1 Interest Rate: 9~t$
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beAinni~n ti period: From the day hereof to Maturity Date. $183.~18 morithly
g q~uty 1, 1978 together with a balloon payment due plus interest
on~ns~a-rinen4 P~"ayment: ~
- $183.18 monthly for 120 months. ~
~First Instalment Payment Date: July l, 1978 ~
The Payee: Sun Bank of St. Lucie County ,
Address: 111 Orange Avenue, Fort Pierce, Florida 33450
FOR.VALUE RECEIVED, the undersigned and if more than one, jointly
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 Payee may designate to the Maker in writing from
time to time, in legai tender of the United States, ttie Principal Amount to-
gether with interest at the Interest Rate on the unpaid balance of the Principai ~
i Amount.
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` The sums due and owing hereunder shall be payable during the
~ Amortization Period in equal monthly instalments, each in the amount of the
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~ Instafinent Payment Oate and subsequent Instalment Payments on the first day
of each month thereafter untii the Maturity Date whereupon the entire unpaid
balance of principal and interest accrued and unpaid thereon shail become due
and payabie; each such instalment when paid shall be apptied first to the Qay- ~
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 a~d payable - -
at once or thereafter, at the option of the holder of this Note. The Payee may, _
at its option, coliect 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 shail not constitute a waiver of ihe right to exercise the same ~
~ in the e~rent of any subsequent default.
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It is further agreed that the Maker and each endorser, surety, guar-
antor, jointiy and severally, shaii pay all costs of collection of this Note, •
including a reasonable attorney's fee, including all costs, expenses and . ~
attorney's fees for any retriai, rehearing or appeals, on failure to pay a~y
Instaiment Peyment or a~y accrued interest due her.eunder on the due date
thereof. This Note and ali sums due hereunder shall bear interest at the
highest lawful rate of interest per annum in the State of Florida from the date ~
when ihe principal and accrued interest under this Note shall be due and
. payabie. The total interest payable hereunder shall not in any or~e year
exceed the highest lawful rate of interest in the State of Florida. . -
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