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MORTGAGE NOTE
Principal Amount: 58,200.00 Date of Note: Janis
ary 17,1979
Maturity Date: Five yearn
Interest Rate: g 3/4!
Amortization Period: From the day hereof to Maturity Date.
Instalment Payment: $173.22
First Instalment Payment Date: August 17, 1979 with lntms'elat payable
monthly for a six month period to begin February 17. 1979.
The Payee: Sun Bank of St. Lucie County
P. O. Box 8.
Address: Fort Pierce, FL 33450
R
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 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 Interest Rate on the unpaid balance of the Principal
Amount.
The sums due and owing hereunder shall be payable during the
Amortization Period in equal monthly instalments, each in the amount of the
E Instalment Payment, the first such Instalment Payment to be made on the First
E Instalment Payment Date and subsequent Instalment Payments on the first day
of each month thereafter until the Maturity Date whereupon the entire unpaid
i
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 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 Payment not paid when due to reimburse the Payee for
expenses of servicing delinquent 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 default.
F
- 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,
including a reasonable attorney's fee, including all costs, expenses and
attorney's fees for any retrial, 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
- 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 arty one year
exceed the highest lawful rate of interest in the State of Florida.
C• P. ~r
Gr~r~Vl FrCE~~ /1
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