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HomeMy WebLinkAbout0745 • MORTGAGE NOTE S 1i8,?Ot?.~'~ February :_'Fr ,19 7°~ For value ~rreivrd, the undrr.ignrd ~uintly arxi srvrrally promise to pay to the urder uf FIR.ST itATYOti~?L ~:?,~t` ;~'~~?:~T P'~t::~.~1? , a feci+~rel ~~r:k!ng cor~,orat~ on . t~~ Iil~iLi'~~ fs~~j T~1~~4~~ ~1JC~ tiiM~'.L~ ~~xtd no/IGC- u~u~~~. the pnnripal sum uf with intarest thereon frum datr at the rate uf per cent per annum; the interrst and pnnc~pai of th~s note to be paid as follows: '~`wo ;iw~dre;i foity (2411) equal a~onthlr ~~a~~~r.ta os~ ia:I:' Tt~~i~i ;r~;~D ~~3t' ".I:'~:~i'.3:~` kZE'i`1'-L:IGIiT' nr.:: b5/la0 L~o~.a:~s (.$l~,l`~. 8S) . ?'I~~i' an1 i~`~/l~i:v ~ ~ ; ~ ~ E_ iw~ ~ r 1 ~ ~ : ~i}': 7~A.11.~r`~.'`ZJ CY~i~ !~?L~`~K.~D FIIrl'~'- f3eRinning un , t9 dte wm a DoUars, and the same amuunt on the came day of rach munlh for consecutive munths until ihis note is paid. The aforesaid paymenlc are to br applied first to interest at the rale afores~id due upon the principal sum or so much thereof as shall from time to time remain unpaid, and the balance of each payment shall be applied to the reduction of the principal. All payments of interest and prinripal are payable at the office of the payee in the ~ity above set forth, or at such other place as thc holder may designate in uriting, ~n IaNful money of the l;nited States. If any of sa:d payments of intercst and principal shall not be paid w•hen due then the entire principal sum and accrued interest shall becume due and payable at once, at thr uption of the holder of this note_ 77?is n~ 4s to be consyµed and ep~orced according to tht laws of lhe State of Florida, and is xcured by mortgage on real estate Dated 17~~`~y `a , 19 ~ ~ If default be made in the paymrnt ot an~• of said sums ot interest or in Ihe performance of any a~reements contained here, or in performanre of the terms of the mortpge secuting this note, then, at ~he option of the holder of the s~me, the principal sum then remaining unpaid with acrrued interest shall immed"utely become due, payable and collectibk vrithout notice, time being of the essence of this contract, and said principal sum and said accrued interest shall bear interest at maximum rate then allowed by law, from surh time until paid. The holder is gi~ren and agreed to hav~e the right of setoff against all drposits, accounts, credits and other property of each maker, guarantor and endotset in possession or control of the holder for any and various sums dur hereunder, w~thout requirement of notice. Any langualte in said note ot morqtage to the conttaty notwithstanding, no intetest shall be charged or collected in excess of that allowed by Florida law, and in the e~~ent of the acceleration of the mortgage, and the notes secured theteby, any prepaid and unearned interest and points in excess of a laa•ful rate of interest to the date of enforcement of payment shall thereupon be refunded to the Afortpagor automati~all~• by the cmditing of same against the sum then due, but such credit shall not cure or waive any default occasioning acceleration. Each maker, ~uarantor and endorser waives presenttmnt, protest, notice of protest and notice of dishonot and agrees to all costs, including a teasonable attorney's fre and any attorney's fees incurred on appeal, whether suit be brought or not, iC courtsel _ ~ shaU after maturity of this note or drfault hereunder or under said mortgage, be employed to .oUect this note or to protect the ~ security thereof. ~ ~ - DETAl1.S OF~ LOAI~ ~ Q~eek if applipble: 1. O\o nutire uf recissiun required 3. ~ Notice of reciscion rrquired ~ 2. ~ No lluu ~nsurrnce required 4. C~ Flood in~ur~nee required ~ 2~~~ :~x.~?ts:~~~~ ~,1 b5 ~ NORTGAGE ~/1Y\tE N~S made in ~S~onsecutive •payments of S earh, the first of ~id pay- ~ ments due "f`~ ' .i~~ Payments may include i~~}~i~~:?nfe escrow_ CONS~kt~iCilON LOAN (if ~ applicable): Interest accrued at ~ per annum p3yabk up to ~ , 19 , on amountx ~ disbursed from the construrtion fund, on that date rcgular payments begin. ~ INSURANCE: Credit life and/ur disability inwnnce not required, offered or providzd fnr. Property inwrance (fue and casualty) ~ is required. Flood inwrance in certain designated areas is also rcquired. Mortgage life insurance is not required. Such insurance as ~ is required or desired may be obtained from or through any duly licensed person or company that Borrower m~y choose, subject Y to Lender's right to refuse an insurer for good cause. The Bank n, if you wish, arnnge for mort~te life inwrance. Dut not for property insurance, fire insurance or flood inwranca ~ LA'I'E PAYMENT AND DEFAUL7~: Bonow-ers are subject to a rt charge not to exceed 2`k of any installment unpaid for 10 i ~ days after the due date with a minimum charge as may teuona imposed by the bank ftom time to time; after deCault or ~ maturity the pnncipal sum remainmg unpaid and accru d terest shall- th bear interest at the maximum rate ihen allowed by ~ law. Borrowers shall pay all a~sts of collection. h 7 r~ ~ SECURITY AND SI;TOFI~: Loan is secured by a mort of , 19 on the real estate described, ~ therein together with all ~ppliances and items now or her fter ached io or placed on the property and considered fixtures. 'Ilie Bank is given the right of setoff ageinst aU deposits, ctedit nd olhet property of Borrow•en in the possession or control of ~ the Bank, for the indebtedneu, though unmatured. The mor ge wdl securc future or other indebtedneu and will cover after acquired proderty. PREPAYNENT: Borrowers may at any me prepay in futl or in part any unpaid balance without penalry. Any partial prepayment shaU be applied agains ~sums w ch will last become due hereunder but shall not othenvise affect the ~ due dates or amounts of payments. ASSUI?lP7~OIy If a mption of this loan is permitted by Bank, Bank will charge a service ~3 fee for said aswmption. Such assumption shall 6~tanted t the bank's sole diuretion. €z 1 acknowledge ~he receipt uf a co ed copy of this ote prior to signature, and that it is correct. ~iaker'c Address: -,:,b~'sl" e .1i~ ISEAL) ~SEAL) " ~':.4 ~ ii`i a.. :~4w.`e ~{j. (SE~AL) ~v~ ~ ;~F (SEAL) ~r ~ ~ ~ ~ ~ . ~ gaRK 3U4 ~A~E ?45 ~ ~ ('USTOMER COPY ~ ~ R6 S30 qev. 4/76 ~ . . . _ . , - - ' - . . .