HomeMy WebLinkAbout1789 PRINCIPAL AMOUNT: $31,950.00 MATURITY DATE: January 10, 1984
AMORTIZATION PERIOD: Five (5) years INSTALMENT PAYMENT: $6,390.00 + interest
FIRST INSTALMENT PAYMENT DATE: 1-10-1980 DATE OF NOTE: January 10, 1979
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 MICHAEL S. McCARTY
and LYNN S. NcCARTY, his wife, or to their successors or assigns (collectively
the Payee) at 1128 FERNANDINA, FORT PIERCE, FLORIDA 33450 or 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 together with interest at the
Interest Rate oa the unpaid balance of the Principal Amount.
The sums due and owing hereunder shall be payable during the Amortization
Period in equal instalments, 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 Payment on the like day of each year 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 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, then the entire principal
sum and accrued interest hereunder shall become due and payable at once or
thereafter, at the option of the holder of this Note. The Payee may, at its
option, collect a late charge not to exceed two cents for each-one dollar of
each Instalment Payments. Failure to exercise these options shall not constitute
a waiver of the right to exercise the same in the event of any subsequent
I~ default.
It 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 reasonable 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 hereunder 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 total interest payable
hereunder shall not in any one year exceed 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.
The Maker agrees that it shall be bound by any agreement 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 Mortgage, whether with or without notice to
the Maker, and the Maker shall continue liable to pay the amount due hereunder,
i but 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 Princi al Amount
p , 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
discharge 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 dishonor, and expressly agree jointly and severally to remain and
continue 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.
Privilege of prepayment without
F~enalty is hereby granted.
/s/ Stephen Samuel Kroll LS
~ R Stephen Samuel Kroll
BOGK301 P~CE1784 1s/ Satre Kroll LS
> Satre Kroll
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