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HomeMy WebLinkAbout0200 MORTCAGE NOTE . PRINCIPAL AMOUNT: $18,500.00 MATURITY DATE: November 3, 1993 AMURTI~A~i~N PERiOD: 15 years INSTALMENT PAYMENT: $193.19 _ FIRST INSTAII~NT PAYMBNT DATB: 12/3/78 DATB OF NOTE: Navember 3, 1Q78 INTEREST RATE: 9 1/2x FOR VALUE RECEIYED, the undersigned and if more than one, jointly and severally ~ (the liaker), does hereby covenant and promise to pay to the order of RALPH SHAFFER and RUTH SHAFFER, his wife, or to their successors or assigns (collectively the Payee) at 1306-B Iadiaaa Avenue, Fort Pierce, Florida 33450, or such other place ~ as the Payee may designate to the t~iaker in writing from tin?e to time, in legal tender of the United States, the Principal amount together with interest at the Interest Rate on the unpaid balaace of the Principal Amount. The sums due aad owing hereunder shall be payable during the Amortization Period in equal monthly instalmeats, each in the amount of the Instalment Payment, the first such Instalment Payment to be made on the First Instalment~Payment Date and subsequent Instalment Paymeat on the first day of each month thereafter until the Maturitq Date ahereupon the entire unpaid balance of priacipal and interest accrued and unpaid thereon shall become due a~vd payable; each such instalment when paid sha11 be applied first to the payment of interest on the uapaid balance at the Interest Rate and the remainder thereof to payment on account of~principal. Tf aw~ TM~~~1~~~n~~ P~~~~~ o,,,g+i Tuv~ uc jioia'a iiiii@u uiiC~ Cit~u ~i1C enti~e priacipai sum and accrued interest hereunder shall become due aad payable at once or there= after, at the option of the holder of this Note. The Paqee may, at its option, collect a late charge not to exceed two cents for each one dollar of each Instal- ment Payments. Failure to exercise these options shall not constitute a waiver of the right to exercise ehe same in the eveat of any subsequent default. , If is further agreed that the Maker and each endorser, surety, guarantor, jointly and severally,~shall pay all costs of collection of this Note, including a reason- able attorney's fee, on failure to pay any Instalment Payment or any accrued interest due hereunder on the due date thereof. This Note and all sums due here- under shall bear interest at the highest lawful rate of interest per annum in the State of Florida from the date when the principal and accrued interest under this Note shall be due and payable. The to[al interest payable hereunder shall not in ~ any one year exc~eed the highest lawful rate of interest in the State of Florida. This Note is secured by a M~r.tgage, dated the date hereof, of property situated in the State of Florida. The Maker agrees that it shall be bound by any agreemeat extending the time or modifying the above terms of payment, made by the Payee and the owner or owners of ; the property affected by said M~ortgage, whether with or without notice to the Maker, and the Maker shall continue liable to pay the amount due hereunder, but with interest at a rate no greater than the Interest Rate, according,to the terms ~ of any such agreement of extension or modif ication. ~ - ~ The unpaid balance of the Principal Amvunt, plus accrued interest shall become due ~ and payable at the option of the Payee under the happening of an event by which ~ said balance shall or may become due and payable under the terms of said Mortgage. ~ ~ This Note may not be changed orally, but only by agreement in Writing, signed by = the party against Whom enforcemeat of any waiver, change, modification or dis- ~ charge is sought. ~ ~ ~ All parties to this Note, whether Maker, prfncipal, suretq, guarantor or endorser, ~ hereby Waive presentment for payment, demand, protest, notice of protest, and 3 notice of dishonor, and expressly agree ~ointly and severally to remain aad can- ~ tinue bound for the payment of the principal and interest provided for by [he ~ terms of this Note, notwithstanding any extension or extensions of the time of, or ~ for the payment of said principal or interest, or any change or changes in the amount or amounts agreed to be paid under or by way of release or surrender or substitution of any real property and collateral or either held as security for ; this Note, and waive all and every kind of notice of such extension or extensions, ` change or changes, and agree that the same may be made without the joinder of the Maker. ~ Privilege of prepayment in whole or in part ~ ~/i~ nt d without enalt at an time ~'~'~t'~ ~ LS ~ i s g r a e p Y Y ~ af[er January 1, 1979. T J. Carne ~ LS ~ ane Carnett ~ 0 k ~ = 80C~t ~ ~ - ~ . . _ ~ _ - - • ° = ' , ° " - .