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MORTGAGE NOTE
s 20000.00 September 7 .179_
For value received, the uadcrsigrred jointq~ atd sevsrauy promirs to pay to the otdsr of FIRST NATIONAL BANK OF
FORT PIERCE a federal banking corporation.
the principal wm ot- TWENTY THOUSAND and j1o/ 100' a - ~ - - pd~y~
with interest thereon from date at the me of ten per cent pat annum; the interest and principal of this note to be
paid as follows:
180 equal monthly payments of $215.00
on October 15 .19 79 , t~ ~ ~ f Two Hundred .Fifteen- - - -
and the same amount on the same day of each month for consecutive months until this note & paid.
The aforesaid payments are to be applied first to interest at the me aforesaid due upon the principal wm or so much thereof
as shall from time to time remain unpaid, sad the balance of each payateat shall be appled to the nductioa o[ the principal.
All payments of interest and princiipal are payabk at the office of the payee is the city above set forth, or at wch other
place as the holder may designate in writing, is 4wfu1 money of the United States. If any of laid paymatts of interest and
principal shall rat be paid when due then the entire principal sum and aorttsed interest shall become due gad payabk at once, at
the option of the holder of this note.
'this no is to be trued and creed aoioordiug to the faun of the State of Florida, and is scoured by morigaDs on teal
estate Dated ~ept • ~ ,19 .
If default be made in the payment of any of said wms or hiterest or in the per[ormmoa o[ any agreements cwtaiued here,
or in perforauuioe of the terms of the mortgye aecuria~ this note, then. at the option of the kidder of the same. the principal
wm then remaining. unpaid with agreed interest shall uamedately become due, payabk and oorectibk without notice. time
being of the essence of this contract, and said priacpal wm and said accrued interest shall bear interest at maximum rate then
- allowed by law. from such timt anti! paid.-The holler is given and weed to have tM right of setoff agau?st all deposits. accounts,
credits and other property of each maker, guanntor and endorser in possession or coned of the hoWet for any and various wms "
due hereunder, without requirement of notice.
of that allowed~by
Flonrida law and ~t event toff
the acak lion o[ the m~ort~ Merest shall be draraed or collected in exa:s
and unearned interest and trDs. and the notes severed thereby. aaY PrcP~
refunded to the Mort pouit: in excess of a lawful me of interest to the date of eaforoement of payment shall thereupon be
gager automatically by Ilia crediting of same again:t the sum then due, but such aedit shall not cure or
waive any default occasioning acoekration.
Each maker, guarantor and endorser waives presentment. protest, tatioe of protest and notice o[ dislanor gad ogees to all
ants, including a reasorabk attorney's fee and any attorney's fees 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 empbyod to collect this note or to protect tine
security thereof.
DETAILS OF LOAN
Check if applicable: 1. I® No notice of recision requued 3. O Notice of recision required
2. O No flood insurance «quuod 4. ® Mood insuraria required
MORTGAGE PAYMENT'S made in1_$~oon,ecutireIDa'?thljLp.yments of S 215 00
each, the first o[ said pay-
ments dueOCt . 15 , 19~. Payments may include tax and inwnnca escrow. CONSTRUCTION LOAN Crt
appliabk): Interest accrued at 96 per annum payabk up to N/A ,19 on amounts
disbursed from the rnnstruction fund, on that date regular payments begin.
INSURANCE: Credit life and/or disability insurance not tcquired. offered a provided for. Property inwranoe (fee and caswlty)
is required. Flood inwrarice in certain designated areas is also required. Mortgage life inwrarioe 4 not requited. Such inwnaa as
is required or des"ued may be obtained from or through any duly licensed person or company that Borrower may choose, wbject
to Lender's right to refuse an inwrtr for good cruse. The Bank an. if you wish. arrange for mortgage life inwraacs, but not for
property insurance. fire insurance or flood itiwrarice. ,
LATE PAYMENT AND DEFAULT: Borrower are subject to a late charge not to exceed 29G of gay installment anpaid for 10
days alter the due date with a minimum charge as may be reasonably imposed by the bank fmm time to tirtic; after default or
maturity the principal sum remaining unpaid and accrued interest slaJl both bear interest at the maximum me then allowed by
law. Botrowen shall pay all costs of collection.
SECURITY AND SETOFF: Loan is secured by a mortgage of , 19 on the real estate descrbed,
therein together with all appliances and items now or hereafter attached W of placed oa the property and considered fixtures.
T?ie Bank is given the right o[ setoff against all d~o~t~, credits and other property of Borrowers ie the possession or control of
the Bank, for the indebtedness. though unmatureQ. The mortpge call secure future ar oWeT iadebtednasr gad wdt coNer alter
acquired property. PREPAYMENT: Borrower may at any limo prepay in full or is part arty unpaid balance wiUrout penalty.
Any partial prepayment shall be applied against the wars which wrTl fart become due hereunder birt shall cot othsnise affect the
due dates or amounts of payments. ASSUMPTION: If aswnrptioa of this ban is permitted by Bsek, Badr will charge a service
fee for said assumption. Such aswmption sliaU be granted at the bank's sde discretion.
1 acknowledge the receipt of a completed copy of this note prior to signature, gad that it is oorcect.
Maker's Address
Route 1. Box 942 ~-e~ ,lt~G (SEA[.)
_ 1~-----. J~-G.y
Fort Pierce . Florida 33450 - (sEAL)
Anne D . Quay
(SEAL)
(SEAL)
C ~ p a~x3~s ~~1306