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Home My WebLink About0410 ~ ' ' ~ ~ i z MORTGAGE NOTE ~ ~ s 72,000.00 March 14 ,19 79 ( For valuc ceceired. the unders~gned Jointly and seve~aUy promise to pay to the onler of F i r e t N a t i on a? ~ AI'~k :3 f ~ Fort Pierc~~ a federal b,~nking corporation. i ti the principa~ wm ot SEVENTY-TW'0 TliOUSAND and na/ lOd- --------_uouar:, * with interest thercon from date at the rate of per c~nt per annum: the in/erest and pnnc~pal of thu note to be ~ paid as foUowt: ~ One liundred T~,•enty (12~} ec;ual monthly payments ~f ::Zi~E HL'NllRrD FIFTY-aP.p and 84/~GO's Dollars ($951.a4). Beginning on '"~.av 1 ,19 79 ~n~ 5~,,--~ MI~ HtA~FD F'IFL'Y-(~ and 84/1QUnollars, and the same amount on the same day of each monlh for consecutive months until this note is paid. ~i - `i x 77~e aforesaid payments ue to be applied first to intecest at the rate aforesaid due upon the principal sum or so much thereof as shall from time to time remain unpa~d, and the balance of each payment shall be applied to the reduction of the principal. Al! payments of interest and principal are payable at the office of the payee in the city above set Corth, or at such other place as the holder may designate in w•riting, in lawCul money of the United SUtes. If any of said payments of interest and principal shall not be paid when due then the entirc priacipal sum and aceruod interest shall become due and payabk at once, at the oFtion of the holder of this note. 'lliis note is to be construed and enforced according to the laws of the State of Florida, and is secured by mortgage on real estate Dated z~ Z~? , 19~~ If default be made in the payment of any of said sums or interest or in the performance of any agreements containcd here, or in performance of the terms of the mortpae securing this note, then, at the option of the holder of the same, the principal sum then remaining unpaid with accrued interest shall immed'utely become due, payable atd colkctibk without notice, time i; being of the essence of this contract, and said principal wm and said accrued intercst shall best interest at maximum rate then ~ ~ allowed by iaw, from such time until paid. The holder is given and agreed to have the rigLt of sttofta~inst all deposits, accounts, E c~edits and other property of each make~, guanntor and endoner in possession or oont~pl of the holdet for any and vuious sums ~ due hereunder, without requirement of notice. . ' Any language in said note or mortgage to the contrary notwitl~s4edint, ao inta~est slull be chargcd or collected in excess of ihat allowed by Florida law; and in the event of the accekration of the wortp~e, aed the notes secured thereby, any prepaid ~ and uneamed interest and points in excess of a lawful nte of iMerest to the dab of enforcement of payment shall thereupon be c refunded to the Morigagor automaticaUy by the credititea of satqe against the sum then due. but such credit shall not cure or ° waive any default occasioning acceleration. Each maker, 6wrantor and endorser waives pre~entment~ protest, notia ot protest and notice of dishonor and agrees to all costs, including a reasonable attorney's fee and mY attoraey's fees incurrcd on appeal, whether wit be brought or not, if counsel _ shaU after maturity of this note ot detault het~tunder or under said mottgage, bc employed to collect this note or to protect the security thercof. ~ i DETAILS OF LOAN j Q~eck it appliable: l. O No notice of recission required 3_ LS• Notice of reciuion required ! 2. ~ No flood insurance required 4. O Flood insurance required 1?n r;~ar:r~:l:i ° 5 I . £+4. ~ MORTGAGE YAYMEI~TS made in consecutive ___~ayments of S-, each, the fint of said pay- - ments due ' B'y ,•1~ . PaYments may include tax and inwrance escrow. CONSTRUCRON LOAN (if ~ applicable): lnterest accrued at % per annum payable up to , 19 , on amounts ~ disburxd Crom the construction fund, on that date regulu payments begin. ~ ~ lNSURANCE: Credit tife and/or disability insunnce not required, offered or provided for. Property insurance (fue and casualty) is required. Flood insunna in certain designated ueas is also required. Mortgage life insurance is not required. Such insurance as ~ is required or desired may be obtained from or through any duly licensed perwn or company that Borrower may choose, subject ; to Lender i right to refuse an insurer for good cause. The Bank can, if you wish, arrange for morigage life inwrance, but not for property insunnce, firc insurana or flood inwrance. ~ LATE PAYMEM' AND DEFAULT: Bonowers are subject to a late chuge not to exceed 296 of any installment unpaid for 10 ~ days after the due date with a minimum charge as may be reuonably imposed by the bank from time to time; after default or maturity the principal sum remaining unpaid and accrued interest shall both bur interest at the maximum rate then aUowed by ~ law. Borrowers shall pay all costs of collection. ~ SECURITY AND SEtOFF: Loan is secured by a mort~ge of ~`~8rch i4 ~~q 7~ on the real estate descnbed, ~ therein together with all appliuices and items aow or herafter attached to or placod on the property and considered fixtures. The Bank is given the right of seto('f ap~inst all deposits, credits and other propeny oC Borrowen in the possession or control of ~ ~ the Bank, for the indebtedness, though unmaturod. The mortgage will secure future or other indebtedness and wiU cover after ~ acquired property. PREPAYMENT: Borrowen may at any time prepay in [uU or in part any anpaid balance arithoutpe mlty. ~ My partial prepayment shall be applied against the surtu which will last become due hereunder but shall not othecwise affect ihe due dates or amounts of payments ASSUMPTION: If auumption of th3s loan is permitted by Bank. Bank will charge a service n fee for said assumption. Such assumption shall be granted at the bank's sde discretion. - : 1 acknowledge the receipt of a completed copy of this note ptior to signature, and that it is correct. _ ~ Maker's Addreu: C' ' ~ l ~rJll~J ~JL'. i~:C1C~ ~C~UZE.'~i81'? t~;.~ ~r*' ` ~t'i'it t ~ ' ISEAL) ~ i L . L:C~ : 2 . ~ :~t)I ~rCE , LOi. ~.~~3 ' ~ (SEAL) ;F . ~ fSEAL) . ~ (SEAL) ~ - ~ ~ ~C'C!( rA~-E ~VV ~ SPECIMEN F 95 830 Rev. 4/76 ~ _ • _ -