HomeMy WebLinkAbout0942 MORTGAGE NOTE '
?'RII~CIPAL AMOUNT: $ 22,500.00 NATURITY DATE: February 10, 1999
~1r10RTIZATION PERIOD: 20 years INSTAI~lENT PAYMENT: $217.14
FIILST INSTA1~lENT PAYt~ff.NT DATE: 2/10/79 DATB OF NOTE: 1/26/79
I~TEREST RATE: lOZ .
FOR VALUE RECEIVED, the undersigned and if more than one, jointly and severally (the
;taker), does hereby covenant and promise to pay to the order of F. H. OONRAD, Jr.,
and LYNN A. CONRAD, his Wife, or to successors or assigns (collectively the Payee)
at Route 4, Box 197-4, Fort Pierce, Florida 33450, or such other place as
the Payee may designate to the Maker in writing from time to time, in legal teader of
the United States, the Principal amouat together With iaterest_at the Iaterest Rate ~
on the unpaid balance of the Principal Amount.
The sums due and owing hereunder shall be payable during the Amortiz~tion Period in
equal monthly instalments, each in the amount of the Instalment Payment, t6e first '
such Instalment Payment to be made on the First Instalment Paymeat Date and subsequent
Instalment Payment on the like day of each month thereafter uatil tbe Matnrity Date
whereupon the entire unpaid balance of principal and interest accrued-and unpaid
thereoa shall become due and payable; each such instalment whea paid shall be applied
first to the payment of interest on the unpaid balance at the Interest Rate and tbe
remainder ther~of to payment on account of principal. ~
If any Instalment Payment shall not be paid When due, then the entire principal sum
and accrued fnterest hereunder shall become due and payable at once or thereafter, at .
the option of the ho~der of this Note. The Payee may, at its option, collect a late
charge not to exceed tvo .cents for each one dollar of each Instalnent Payments.
Failure to exercise these options shall not constitu[e a Waiver of_t6e right to
exercise the•same in the event of any subsequent default.
It is further agreed that the Maker and each endorser, surety, guarantor, jointly and
severally, shall pay all costs of eollection 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 iate of interest per annum in the State~of Florida
from the date vhen the principal and accrued interest under.this Note shall be due
and payable. The total inter~st 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. -
'i The Maker agrees that it shall be bound by any agreement extending the time or_
j modif yin g the above terms of payment, made by the Payee and the owner or ovners of
j the property affected by said Mortgage, whether with or without noti~e to the Maker,
and the Maker shall continue liabZe 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 estension or modification. .
The unpaid balance of the Principal Amount, plus accrued iaterest 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 af 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 Ztaker, principal, surety, guarantor or endorser,
hereby vaive presentment for payment, demand, protest, notice of protest, and notice
of dishonor, and expressly agree jointly and severally to remai.n 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.
~ .
~ This note may be paid in full or in part , . ~ - ~
~ at anytime prior to due date, ~+ithout ,%j;;f.~~: f:~ LS
penalty. ;
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