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Home My WebLink About3007 • • • t MORTGAGE NOTE = 27 , 000.00 march ~5~~ ,19 79 For value received, the undersigned jointly and severally promise to pay to the order of First National Bank Of Fort Pierce, a federal banking corporation, the principal sum of TWENTY-SEVEN THOUSAND and no/ 100- - - - - - - - with interest thereon from date at the rata of per cent per annum; the interest and principal o[ this note to be paid as follows: Thres h>mdred equal monthly payments of TWO HUNDRED FORTY-FIVE and 43/100 Dollars ($245.43). j . , ~gtn~ on October 10 , 19 79 the wm TEA H[I~ PC~Y-FIVE and 43/10~0~, and the same amount on the same day of each month for 3 consecutive months until this note is paid. • The aforesaid payments ue to be applied tint to interest at the rate aforeuid due upon the prindpil wm or so much thereof as shall from time to time remain unpadd, and the balance of each payment shall be applied to the reduction of the principil. All payments of'intercst and principil an payabk at the office of the payee in the city above set forth, or at such other place as the holder may designate in writing, in lawful money of the United States. If any of said payments of interest and principal shall not be paid when due then the entire principal sum and aaruod interest shall become due and payabk at once, at the option of the holder of this note. This note is to be construed and enforced according to the Taws of the State of Florida, and is secured by mortgage on roil estate Dated March 28 ,19 79 . If default-.be made in the payment of any of said sums or interest or in the performance of any agcements contained here. or in performance of the terms of the mortgage securing this note, then. at the option of the holder of the same, the principil wm then remaining unpaid with accrued interest shall immediately become due, payabk coljectibk without notice, time being of the essence of this contract, and said principal wm and said accrued interest _ ~ rest at maximum rate then allowed by law, from such time until paid. The holder is given and agreed to have the-rf~At of slit tall deposits, accounts, credits and other property of each maker, guarantor and endorser in possession orb~it~ of tliq h for any and vuious wms - due hereunder, without requirement of notice. , My latiguaae in said note or mortgage to the contrary riotwi _ itijk'{io in _ stt be charged or collected in excess of that allowed by Florida law, and in the event of the aceekr~)ion o . fitd the notes secured thereby. any prepaid ued unearned interest and points in excess of a lawful rate of ii~rest tA~t a enforcement of payment shall thereupon be refunded to the Mortpgor automatically by the credittrq~;of sat again~t C swn then due, but wch credit shall not cure or waive any default occasioning acceleration. Each maker, guuantor and endorser waivesprctiiitlment,profest, notice of protest and notitx of dishonor and agrees to all costs, including a reasombk attorney's fee aM spy att6tpey's'fr:es incurred on appeal, whether wit be brought or not, if counsel shall after maturity of this note or default hegenade[ or ifitider said mortgage. be employed to collect this note or to protect the security thereof. ~ - - DETAILS OF LOAN Check if appiiabk: 1. C7 - No notice of recision required ~ 3. ~ Notice of recision requited - 2. D No flood insurance requited 4. ? Flood insurance required k MORTGAGE EA~~ ~e in ~coaacutivepayments of S 43 ~ each, the first of said pay- f ments due UC X19 .Payments may inclu~ Saa ~de~surtuKe escrow. CONS~'gUCTION LOAN (if applicable): Interest accrued at y ~~er an um payabk up to C~vD LV , 19 f 7 on amounts disbursed from the construction fund, on,that a regular payments begin. INSURANCE: Credit life and/or disab' ' , iasutgriar not required, offered or provided tor. Property inwnnce (fue and casualty) is required. Flood inwnnce in certain designated arcs is also required. Mortgage life insunnot is not required. Such insurance as is required or desired may be obtained from or thtdYgli any duly licensed person or compmy that Borrower may choose, wbject to Lender's right to refuse an insurer for good atl~ei. The Bank can, if you wish. urauge for mortgage life inwnnce, but not for property inwnnce, fire insurance or flood itiwrauce. r LATE PAYMENT AND DEFAULT: Borrowers ue sii~ject 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 reasonably imposed by the bank from time_to time• after default or maturity the principal wm remaining unpaid and accrued interest shall both beu interest at the maximum rate then allowed by law. Borrowers shall pay all costs of collection. SECURITY AND SETOFF: Loan is secured by a mortgage of T"~8rch 28 , 19 ~9 on the roil estate descnbed, therein together with all appliances and items now or hereaRer attadied to or placed on the property and considered fixtures. The Bank is given fhe_ right of setofY against all depposits, credits and other property of Borrowers in the possession or control of the Bank. for the indebtedness, though unmatured. The mortgage wi71 secure future or other indebtedness and will corer after acquired property. PREPAYMENT: Borrowers may at any time prepay in fuB or in part any unpaid balance without penalty. My partial prepayment shall be applied against the wms which will last become due hereunder but shall not otherwise affect the due dates or amounts of payments. ASSUI+IP'TION: If aswmptioa of this loan is permitted by Bank, Bank will charge a service fa for said aswmption. Such aswmption shall be granted at the bank's sde discretion. - 1 acknowledge the receipt of a completed copy of this note prior to signature, and that it is correct. s= Maker's Address: ~~.7 n , (SEAL) (SEAL) , rr~~ ~ (SEAL) '1~:~r'1>~'iI-~'~'~SrbZIL:1C-- (SEAL) • ~ g~oK 305 FA~E3001 SPECIMEN ~ FBS 830 Rev. 4/76 ;e- P ...mow , - v¢li~ a ~ -~A. ,~.%A.:a