HomeMy WebLinkAbout0365 MORTGACE NOTE
PRINCIPAL AZtOUNT: $42,600.00 MATURITY DATE: February 23, 1984
AMORTIZATION PBRIOD: 5 years INSTAI2tENT PAYl~NT: $905.13
FIRST INSTAI~MENT PAYMENT DATE: 2/23/1980 DATE OF NOTE: February 23, 1979
INTEREST RATE: lOX ~
FOR VALUE RECBIYED, the uadersigned and if more than one, jointly and severally (the
Maker), does heraby covenaat and promise to pay to the order of ALFRED SAVINELLI,
Individually and as Trustee, joined by his wife, MENA SAVINELLI, or to their
successors or assigas (collectively the Payee) at ROUTS 4, BOX 54
FORT PIERCE, FLORIDA 33450 or such other place as the Ya_yee ma_y desi~nate to the Maker in
vrit3ng from time to timQ, in legal tender of the United States, the Principal amount
together with interest at the Interest Rate on the unpaid balance of the Principal ~mount.
The sums due and owing hereunder shall be payable during the Amortization Yeriod in equal
annual instalments, each in the amount of the Instalment Payment, the firet such Instalment
PaymeRt to be made on the First Instalment Payment Date and subsequent Instalmeut Payment
on the like day of eacL year thereafter uatil the Maturity Date whereupon the entire
unpaid balance of principal and interest accrued and uapaid thereon shall become due and
payable; each such instalment when paid shall be applied first to t6e payment of interest
on the uapaid balance at the Interest Bate and the remainder thereof to payment oa account
of principal. ~
If any Instalnoent Payment shall not be paid vhen due, then the entire~principal sum and
accrued intereat 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 chaxge not
to exceed two cente 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 subsequeat defau2t.
It is further agreed tbat the Maker and each endorser, surety, guarantor, jointly aad
severally, shall pay all costs of collection of this Note, including a reasonable att-
orney'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 in-
terest payable hereuader shall not in any one year exceed the highest lawful rate of
interest in the State of Florida.
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i This Note is secured by a Hortgage, dated the date hereof, of property situated in the
i State of Flarida.
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~ The Maker agrees that it shall be bound by any agreement extending the time or modifying
4 the above terms of.payment, made hy the Payee aad the owner or owners of the property
~ affected by said Mortgage, whether with or without notice to the Maker, and the Maker shall
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~ continue liable 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 extension or
~ modification.
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~ 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 uader 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.
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= 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 ~
Y extension or extensions of the time of, or for the paymeat of said principal or interest,
or any change or chaages in the amount or amuunts agreed to be paid under or by vay of
-w release or surrender or substitution of any real property and collateral or either held as
security for this Note, and Waive a11 and every kind of notice of such extension or ex-
tensions, change or changes, and agree that the same may be made without the joinder uf the
Maker.
~ TNIS NOTE MAY BE PRE-PAID IN FULL OR IN PART AT E1NY
TIME PRIOR TO DUE DATE, WITNOUT PENAL~~
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