HomeMy WebLinkAbout0889 MOR'~CACE h1~ TE
PRLNCIPAL ArIOWT: $20,500.00 MATURITY DATE: October 28, 1993
AMORTIZATION PERIOD: 15 years INSTAI.liENT PAYMENT: $207.93
FIRST INSTAIMENT PAYMENT DATE: Nov. 28, 1978 DATE OF NOTE: October 20, 1978
INTEREST RATE: 9X ~
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 P. H. CONRAD, JR.
and LYNN A. CONRAD, his wife, or to successors or assigns (collectively the ,
Payee) at ILoute 4, Box 197-4, Fort Pierce, Florida. 33450, or such other place as
the Payee may designate to the Ataker in writing from time to time, in legal tender
of the United States, the Principal amount together with interest at the Interest
Rate on the unpaid balance of the Principal Amount.
The sums due and owing hereunder shall be payable durit1g the Amortization Period
in equal monthly instalments, each in the amouat of the Instalment Payment, the
first such InstalmeA[ Payment to be made on the First Instalment Payment Date and
subsequent Instalment Paymeat on the firet day of each ~onth thereaf[er until the -
llaturity Date whereupon the entire unpaid balance of priucipal and intereat accrued
and unpaid thereon shall become due and payable; each such instalment when paid
shall be applied first to the payment 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, thea the entire principal
sum aad accrued interest hereunder stiall become due and payable at once or there-
after, at the option of the holder of this Note. The Payee may, At ita option,
collect a late charge not to exceed tw~ cents for each one dollar of each Instalment
Payments. Failure to exercise these optioas shall not constitute a waiver of the
right to exercise the same in the event af any subsequent default.
It is further agreed that the Maker and each endorser, sureCy, guarantor, ~ointly
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 hfghest 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 total interest payable hereunder shall not in
any one year egceed the highest lawful rate of interest in the State of Florida.
This Note is secured by a Mortgage; dated the date hereof, of property situated in
the State of Florida.
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The Maker agrees that it shall be bound by any agreement extending the time or
modifying the above terms of paymeat,. made by the Payee and the owner or owners of .
the property affected by said MorCgage, whether with or without notice to the
Maker, and the•Maker shall continue liable to pay the amount due hereuader, but
f with interest at a rate no greater than the Interest Rate, according to the terms
of any such agreement of extension or modification.
The unpaid balance of the Principal Amount, 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 enforcement of any waiver, change, modification or dis-
charge is sought. -
All parties to this Note, whether Maker, principal, surety, guarantor or endorser,
hereby waive presentment for payment, demand, protest, notice of protest, and
notice of dist:~~~~'~ ar_d expressly agree jointly and severally to remain and con-
tinue bound for the payment of the principal and interest provided for by the
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. ~ ~
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This note may be pre-paid in full or in part at anytime prior to due date. ~i
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