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HomeMy WebLinkAbout2373 _ . MORTGAGE NOTE 112,500.00 Sept. 5 .l9 7g _ For value received, the undersigned jointly and severslly promise to pay to the order of FIRST NATIONAL BANK OF FORT PIERCE theprincipatrumor One hundred twelve thousand flue hundred Dot>>r:. with interest thereon from date at the rate of per cent per annum; the interest and principal of this note to be paid as follows: ~poertlt'>telx Oct. 5 79 sl ,208.94 »ovars, Beginning on , 19 the su.wE and the same amount on the same day of each month for ~ consecutive months until this note is paid. The aforesaid payments are to be applied fiat to interest at the rate aforesaid due upon the principal sum or m mudr thereof as shall from time to time nmaia unpaid, and the balance of each payment shall be applied to the reduction of the principal. AU gyrneats of tnterost std principal are gyabk at the offtce of the payee in the city above set forth, or at such other - Place as the lalder nay designate in writing, is 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 optics of the holder of this note. This n is to $ cis{ 5 and~q~orood according to the laws of the State of Florida, and is second by mortgage on real estate Dated p ,19~ If default be made in the payment of any of said sums or interest or in the performance of any agreements contained hen. or in performance of the terms of the mortgage secutin~ this note, then, at the option of the holder of the same, the principal sum then nraainitrg unpaid with acerued interest shall unrnediately become due, gyabk collecLbk without notice, time being of the essence of this contract, and said principal sum std said aosrued iatenst;half.~terest at maximum rate then allowed by taw, from such time until paid. The holder is given and agreed to h:ve th rlgltt of ~ tof`f,. ' tap deposits, accounts, credits and other property of each maker, gwrantor and endorser in possession o<t<~ of ~ hoWZ4 for any and carious sums due hereuMer, without requirement of notice. f _ Any 1auBuage in said note or mortgage to the con ~~in~ po is be druged or collected in axozss of that allowed by Florida law, and in the event of the ao~xk~ on of _ ,~otes secured thercbY. anY PnP~ and unearned interest sad points in excess of a lawful talk of ~ tdt a enforcement of payment shalt thereupon be refunded to fire Mortgagor autoantially by the cted of sa~ agaiit~t a sum then due, but such credit shall not cute or waive any default occasiotung acoekration. Fick make, guuantor sad endorser q~ive~pn _ menLL pest, notice of protest and notice of dishotrot sad agrees to cep costs. iaduding a nasowble attorney's fee t11~d gnY at~y'>ftees incurred on appeal, whether suit be brought or not, if counsel shall after maturity of this note or`det hNCnfddr or fiider said mortgage, be employed to collect this note or to protect tl?e security thereof. ` c, - = - ir . DETAILS OF LOAN ~ _ Y (7reclr if applicable: ~ 1. -IVo notice of recision required 3. U Notice of recision required 2. © No flood insurance required 4. O Flood insurance required MORTGAG PAYME,~iT~ nth rn t 8~ con~eseycutire monthl y gYments of i 1 ' 2_08_y each, the first of said pay- ments due ~tMr. VGL. 5 . 1~ xra7~~~~~~~~~.'~)'~~~~l~l~~'r~ xxxxxx~,c~~ ~Cxxxxxxxxxxxxxxxxxxxx>E~xxxxxxxl~ix~ ii~lf~liYtYrlt~iGXt1cIWIX761i xiE)t l(d , INSURANCE: Credit life and/or disability inwtance not required. offered or provided for. Property insurance (fin std psua[ty) is required. Flood insurance in certain desigmted uses is also required. Mortgage life insurance is not required. Such insurance as is required of desired may be obtained from or through any duly licensed person of company that Borrower may choose, subject to Lender's right to refuse an insurer for good ause. The Bank an, if yon wish, arrange for mortgage fife iastrraace. but not fa property insurance, fire insurance or flood insurance. LATE PAYMENT AND DEFAULT: Borrower an subject to a late charge not to exceed 2% of any installtneut unpaid for 10 days after the due date with a minimum chuge u may be reasonably imposed by the bank from tithe to time; after default or mmturity the principal sum remaining unpaid :red accrued interest shall both ben interest at the maximum rate then allowed by law. Boaowers shall pay all costs of collection. SECURITY AND SETOFF: Loan is secured by a mortgage ofl~cSept . 5 , 19 79 oa the real estate described, therein together with all appliances sad items nosy or herafter attsched to or plsoed oa the property std considered Futures. The Bank is given the right of setoff tall deposits. credits and other property of Borrowers is the possession or control of the Bank, for the indebtedness, thouunmatured. The mortgage wt~l secure future or other indebtedness and wt71 cover after acquired Property- PREPAYMENT: Borrowers may at any bate prepay in full or in psrt say unpaid balance without penalty. ~Y~~ Pt~Yarent shall bt applied against the sums which will last become doe henuader but shall not otherwise affect the due tes or amounts o! gyments. ASSUMPTION: I! assurapYan of the loan is permitted by Bank, Bank will charge a setrice 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 prior to signature, and that it is correct. Maker's Address , , c C `L ~ ~ ~ (SEAL) 19T9 SEP -5 ~ Fi1.EOo ANO RE(:OR (SEAL) gT.lllElE ~pUitTY.fIA. CLERK CIRCUIT (SEAL) _ (SEAL) Return to 0~3~~ PAGE ~~pp LAW OFFICES QF BOOK ~~~lK7 BROWN, PAXTON ~ Mt1~lAMS Taifti INiTRNMtf~iltlfi/'J1lTiD ~ _ P• O. BOXY ~41~:. SPECIMEN CHARLES R. r, t)RpWN FBS 164 Rw; 4!l O. nOJt fafa