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STATE FLO?-?,J~~• ~
. ~ DO~.UMENTAR`' ¢`..:,~~STAN1i~ a ~
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MORTGAGE NOTE
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Principal Amount: ;1l.S00.00 Date of Note: Jaa~asy 2!. 1979.
Maturity Date: S~say~Y 10, 199
Interest Rate:. 9 3~!!
Amortization Period: From the day hereof to Maturity Date.
Instalment Payment: SZ06. S6
First Instalment Payment Date: i~azch. 10, 1179
The Payee: SOII 8a>ltk O! 8t. Luvi~ Co~?ty
P. O. soot ,
Address: >Eos! P1+~1~• tlorida 33450 -
FOR VALUE RECEIVED, the undersigned and if more than one, jointly
and severally _(fhe 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- i
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
t
j Instalment Payment Date and subsequent Instalment Payments on the first day
of each month 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 pay
ment of interest on the unpaid balance at the Interest Rate and the remainder
thereof to payment on account of principal .
If an instalment Pa ment shall not i
y y be pa d when due, then the enure
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, cof lect 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 -
t 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.
t
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 ail 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.
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P 302 P~,~~1340
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