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Articles of agreement .
effectuated by giving at least forty-five (45) days' written notice to the under- i
signed, receipt of which is acknowledged when the same is deposited in the~lfiited
States mails, postage-prepaid, addressed to the most recent address shown on the
holder's records, such increase or decrease to become effective as of the next reg-
ular monthly payment date following said notice period, and provided further that the
undersigned or any of them shall have the right to prepay the~ur~paid balance of this ~
note or ar?y portion thereof at any time without prepayment penalty, fee, or any
additional charge therefor, but with interest to date of prepayment -
' As used in this note, the terns "index" shall mean the avera a of the primary
residence non-insured conventional mortgage interest rates of First Federal Savings
and Ipan Association of Fort Pierce and Citizens Federal Savings and Loan of St. Lucie
County.
a
As used in this note, the term "index rate" shall mean`the percentage rate
reflected in said "index," from time to-time, and the term "intial index rate" shall
mean the index rate of said index as most recently published or available as of the
date_of _ phis noxs - - - - - - - - - - - - - '
Provided that in the event the .interest rate hereon is increased or decreased as
hereinabove provided, then the holder hereof shall have the option of effectuating
j
such change by (1) adjusting the dollar amount of the monthly installments so as to
{ reflect the correct amount of resulting interest to be due on the note based upon the
remaining term to maturity; (2) extending or reducing the maturity of the note to
the extent necessary to reflect the correct amount of resulting interest to be due
on the note based upon the revised number of monthly installments;~or (3) by a
combination of the adjustments described in (1) and (2) above. And the parties of
the second part agree to pay all taxes, assessments of impositions that may be legally
levied or imposed upon said land subsequent to the year 1978, and to keeT3 the build-
~ ings upon said premises insured in some company satisfactory to the parties of the
first art and a able for the arties res ectivel as their interest ma a ar in
P ~ P Y P ~ P Y Y PPe
~ a sum of not less than 'I1~enty-'I~o 'Thousand and 00/100 (22,000.00) Ibllars during the
terns of this agreement. And iri case of failure of the said parties of the second
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