HomeMy WebLinkAbout0055 MORTGAGE NOTE
= 7,000.00 November 15 t978
For value reab•cd, the underiijned jointly and .~ri~,~~y P«m?x ~o P,r ~o ~n~ o?a~~ or Firs t Na tiona 1 Bank
of Fort Pierce. a federal banking corporation,
SFVEN TNOUSAND AND NO/100-------------
the pnnc~pal sum uf DoUars,
wilh interest thereun fn~m date at Ihe rate of pet cent pe[ annum; tlte intecesl aad p~inciptl oi tfiis Aote to be
p~K1 as (ull~~ws: .
On or before December 1, 1979. •
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'R~c afot~•said p~yoxnt: are to be applied fi~st to interest at the nte afore~id Aue upon the pcincip~l am ot so mucl+ thereof
>1~r11 from unk to tune rcnuin uopaid, and the balance of cach ps>•ment shaU be applied lo tAe reduction of the D~~~D~•
All p~yments of inteust and principal are payabk at the ott~ce of 1he payet ia the citr sbore ~el forth, or a! wch other
pla.e .~s thr holder may d~sigrwc: in wntina. in lawful mener of Ihe United Statet. If any ot aW payn?eets ot inteceri and
~u~m q~r.l stutl na bc paut when due then the enlire principal :um and accrued in~erest shall become due snd payabM at oaa, at
~h. pu~n of Ihe hukler ~~f lhts note. -
This note is 1o Ge consteutd and caIoroed accadin~ 1o the law: of the Stat~ of Flo~Wa. and it ~ecured by n.ortss~e on ra1
~:c~u ~,.~~e Nov. 15 ,19 7t3.
If Jcfaull lr~ madc ~n Ihc paynxnl ~~f any ot said sums or intue:t ur in the ~+er(ormance of snr a~rameat~ contaieod hero,
~n pe~fo~man~r uf the te~m~ uf tha mortpje securinj tAa note. thee, at the optbn of the hdder ot lha nme, the ptincipal
~~.m then renuin~ng unpa~d w~th accrueA ioterest sAaU immediately baoRee due. payabM ~nd colkttibN ~ritfiont notice. time
t~~ng of the essence of this conttacf, and said p~incipa! wm and said ~ocrued interett ~haU bes intetat at maximum nte thea
al?owed by law, fiom iuch time unul pud. The holder is ~ti~ren as~d a~treed to have the rijht of ~etoti ainst all depopts. stcounu,
: red~tc .?nd ather pt~~ptrly o( e~rh maker.6wrsn~o~ and enJorirr in posseuion or conud of tAe ho~sr [o~ any and varwus wmt
din heirunJri, withuut iryui~~meM of ooti~e. •
Any langua~e in said note or mo~taa~e to the coot~uy notrrithstandinj, no intere~t ~Mall bs churd ar colketed tn eace»
~~f th~t allov?rcd by F~.rnda law, and m the event of the acalenliun of tM mortsye. ana ~b. sou• ~cu»d ehe~•br. inY PnWd
rnd unrarncd ~ntereit and poinls in excess oi a 1arr~ul nte ot inlsrett to the dste of entorctment o! psyaNnt ~hall IAercupoa ba
~ci,~rwicd to thc Murt6agor automatiafly by the creditin~ of nmt a~aia~t the tum then dw. brt wch trodit ~aY not cnre or
tv,i.-e.~Y defaul~ occa.~uo~n~ accekntiun. ~
F~~ch make~, Rua~antor and endoner w•sives presentment, pwtat, notice o( protett and notltt of diihonot and s~ras to all
:.~~c•, mclud~n~: • rrawnrble a~torney's fte and any allorney's fees incu~red o~ appeal, vrMlher wit be brou=ht or not, if coun~tl
eh~ll ~ttc~ matumy of thi~ noic or dtfault hereunder or undsr said mortpie, be employed to cdlect this note ot to proiect the
ae~ u=?t~ thereoL
U~7AllS OF LOAN "
C7uck it ~pplinbk: 1. ~9 Nu n~~uee of reciseion ~equiced 3. C] Nutice of reci~ion rcquired
~ 2. ~ N~~ Il ud ~nsun r uired 1. O lood ' e requiied
~n or ~~t~ore December ~ ~
~ b1URTG~~Gt: PAY~1t:NTS nuJe ~n ~~~consecuuve payments of 1~_., tach~ the C~nt ot sa~d pay
~ rnrnes due _ , 19 . Payments may include Ut and ~nsur~nce escww~. CiONSTRUCTION LOAN (i[
E ~ppl~ublr): Inlerc~t ~::rutd at %per annum payahk up to . 19 ~ , on amounts
,
dubwseJ fr.~m the runst[ucuon iund, un that dste te~tubt payments be6in.
~ InStI1tANCE~ C~ed~t liic andlor d'ssability inwisnce nut required, offeted a provided for. Troperty inwnncs (fue and qsualty)
~ ~s reyu~red. Flood ~nsunnce in cettain desi~nsted utas is alfo rtquired. Motqta~e life iasunnet is rtot tequired. Such iawcance at
r. ~eyUyred o~ des~red may be ubuined (tom or throujh any duly licensed person or compsnr that Botrowa msy choose, wbject
~o { tndrr's n~tht ro tefust ~n ~nsuttt fix Ruud puft. The Bank p~. if ~•ou wish, siraKe for mort~s=e Hf~ inmrante, but not for
g pro~Krty ~nwrancc, fire iosurance ur flood ~nsutanCt.
i 1.ATE PAYMENT AND DEFAULT: Botrowers are wbject to a la!. ehuse not to exceod 2'X. of any inshlln»ot unpaid fot IO
drys aftrr ~he due date wuh a min~mum charEe ss may be teasombly imposed by the bsek trom time to time' after default or
~ ~n~tunt)• ~J~c pnncipal sum ~ema~ning unpaid and st~rued intereit ~hall both bear inttrat at tbe maximum ntt tAen aUowed by
I~w•. tiu~sowers st~sfl pay afl .usts nt colkction.
SECURfTY AND SEi'UhF~ l.wn is secured by a mortp~e of NOV . 15 ~ 19 78 on the ral asnte describad,
ihere~n wEcthcr v?nth atl appliances and item~ now a hereafter aaachod to or ~~iaced oa tM propettY and eonsidered fixtute~.
~ ll~c B~nk is gn•en the naht of setot'l saainft sU depositt, crWils and other properly of Borrowen in tht potreuion or control of
~;~e I3anl, fur Ihe ~ndebtcdnr~s, thou~f? unmatuted. The mort`a~e will ~ecure futurt or otha indebtednat u~d w~iU corer a[tu
~ ~:quued pruperty. PREPAl'Af~NT: Bor~owen may at any time prep~y in full or fn Q~rt any unP~id balana withoutpe aalty.
An~ part~al prepa~ ment shalf t+e applxd aaainst Ihe wms which wrill )ast become due htteunds~ b~it ~all not otherwi~ Jfect the
du~ d..tes ~x ann~unts of paymentz ASSUMPf10N: If auumptaa of thie loan it permitted by Btnk. Bank will chsr=e a service
~ fec fur s.~iA assump~~on. ~uch usumphon shatl be ~nnted at Ihe bank's ~ole discretbn.
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~ 1 a:knuk•lcdgc the rece~pt uf a completed copy o[ thts aote Qciot to siEnuutt, ~nd t it is coi~ect. ,
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v M~ke~'s Address: ` / '
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P~~st Office Box 3305 ~~~L~ `l~
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. Fart Pierce, Florida 33452 J-
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