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MORTGACE NOTE
Principat Amount: $14,000.00 Date of Note: October 17, 197S
Maturity Date: S4 months
I~terest Rate: 9 3/4'7~
Amortization Period: From the day hereof to Maturity Date.
Instalment Payment: $23~.62 per month
First Instalment Payment Date: P.ecember 5, 1978
The Payee: 5~;~ gp,,~-K pF ST . I.L'CIE COL^~TY
Address: 111 Oran~e ~.venue, Fort Pierce, Florida 33450 -
FOR VAk.UE 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 legal tender of the United States, the Principal Amount to-
gether with interest at the lnterest Rate on the unpaid balance of the Principal
Amount.
The sums due and owing hereunder shail be payable during the
Amortixation Period in equal monihly instalments, each in the amount of the
Instaiment 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 such 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 af principal .
If any lnstalment Payment shall not be paid when,due, tt?en 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 its option, cotlect a late charge not to exceed two cents for each one dollar
of each Instatmeni Payment not paid when due to reimburse the Payee for
expenses of servicing deiinquent lnstalme~it Payments. Failure to exercise
these options shall not constituie a waiver af 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,
inctuding a reasonabfe attorney's fee, including all costs, expenses and
attorney's fees for any retriat, 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
h+ghest lawfu! rate of interest per annum in the St~te of Florida from the date
when the principal and accrued interest under this Note shall be due and
payable. The totat interest payable hereunder shafl not in any one year
exceed the highest lawful rate of interest in the State of Fiorida.
a`o~K 236 PA~E 854
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