HomeMy WebLinkAbout2252 MORTGAGE NOTE '
s 12,000.00 ~y ,,9'9
For value received, the undersigned jointly snd severally promise to pay !o the order of
FIRST NATIONAL BANR OF FORT PIERCE, a national. banking association ~
Twelve Thousand & No/104-------------------_______
the principal sum of Dollars,
with interest thereon from date at thr rate of per cent per annum; the interest and principal of this note to be f
paid as follows:
Beginning on J U n e 14 , 19 7 9 the wn~o; S 12 9 ~ ~ ~ Dollars,
artd the same amount on the same day of each month for consecutive months d n
5129.00 on the lE0 month on the same day of the month. ~ -
The aforesaid payments are to be applied first to interest at the rate aforesaid 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 principal are payable at the office of the payee in the city above set forth, or at such other l
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 accrued interest shall become due and payable at once, at ;
the option of the holder of this note.
This note is to be~or~trutd and e~tforced ac~gtding to the laws of the State of Florida. andu secured by mortgage on real
estate Dated even QdLt? !~@reW f
if default be made in the payment of any of said sums or interest or in the performance of any agreements contained here,
or in performance of the terms of the mortgage securing this note, then, at the optan of the holder of the same, the principal
wm then remaining unpaid with accrued interest shall immediately become due, payable and coYectible without notice, time
being of the essence of this contract, and said principal wm and said accrued interest shall Bear interat at maximum rate then
allowed by law, from such time until paid. The holder is given and agreed to have the right of satoff ~gsinst all deposits, accounts,
credits and-other property of each maker, guarantor and endorser in possession or oonttol of the holder for any and various sums
due hereunder, without requirement of notice.
Any language in said note or mortgage to the contrary notwithstanding. ao intaest ahall be charged or collected in excess
of that allowed by Florida law, and in the event of the acceleration of the mortpge, and the notes secured thereby, any prepaid
and unearned interest and points in excess of a lawful rate of interest to the date of enforcement of payment shall thereupon be
refunded to the Mortgagor automatically by the crediting of satpe against the sum then due, but such credit shall not cure or
waive any default occasioning acceleration. .
Each maker, guarantor and endorser waives presentment, protest, notice of protest and notice of dishonor and agrees to all
costs, including a reasonable attorney's fee atd any attorney's tees incurred on appeal, whether wit be brought or not, if counsel
shall after maturity of this note or default hereunder or under said mortgage, be employed to collect this note or to protect the
security thereof.
DETAILS OF LOAN
Check i[appliable: 1. O . No notice of recision required 3. O Notice of recision required
2. O No flood insurance required 4. O Flood insurance required
MORTGAGE PAYMENT$ made in consecutive payments of S each, the first of said pay-
s 14
ments due ~ u n e 19 ~ .Payments may include tax and insurance escrow. CONSTRUCTION LOAN (if
applicable): Interest accrued at ~ per annum payable up to . 19 on amounts
j disbursed from the construction fund, on that date regular payments begin.
INSURANCE: Credit life and/or disability insurance not required, offered or provided for. Property inwrance (fire and casualty)
i is required. Flood insurance in certain designated azeas is also required. Mortgage life insurance is not required. Such insurance as
i is required or desired may be obtained from or through any duly licensed person or company that Borrower may choose, subject
s to Lender's right to refuse an insurer for good cause. The Bank can, if you wish, arrange for mortgage life insurance, but not for
property insurance, fire insurance or flood inwrance.
€ LATE PAYMENT AND DEFAULT: Borrowers are subject to a late charge not to exceed 2`b 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 defautt or
y maturity the principal sum remaining unpaid and accrued interest shall both bear interesh~~b~~c~m rate then allowed by
taw. Borrowers shall pay all costs of collection.
euen .date
SECURITY AND SETOFF: Loan is secured by a mortgage of 1 19 on the real estate described,
therein together with all appliances and items now or hereafter attached to or placed on the property and considered fixtures.
The Bank is given the right of setoff against all deposits, credits and other property of Borrowers in the possesion or control of
the Bank, for the indebtednes, though unmatured. "The mortgage will secure future or other indebtedness and will cover after
s acquired property. PREPAYMENT: Borrowers may at any time prepay in full or in part any unpaid balance without penalty.
Any partial prepayment shall be applied against the sums which will last become due hereunder but shall not otherwise affect the
due dates or amounts of payments. ASSUMPTION: If aswmption of this loan is permitted by Bank, Bank will charge a service
fce for said aswmption. Such asumptiori shall be granted at the bank's sole discretion.
1
9 1 acknowledge the receipt of a completed copy of this note prior to signature, and that it is correct.
Maker's Address
4735 eZds.^.ts Street r 's-
(SEAL)
.o ez o:per s
I~rJi iywcod, FL ~ 30?
(SEAL)
(BEAU
t
(SEAL)
i
r , 8001( JllB PACE z
25z
s SPECIMEN
t F5~ 830 Rev. 4/76
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