HomeMy WebLinkAbout1655 MORTGAGE NOTE
= 157.500.00 November 12 ,191
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 wm of - Dollars,
with interest thereon irons date at the rate of - per ~tnt per annum: the interest and principal of this note to be
paed• as follows:
One hundred eighty (180) equal monthly payments of ONE THOUSAND
NINE HUNDRED FORTY-ONE AND 98/100 DOLLARS ($1,941.98)
Otte TEnusand Nine Hindred Fbrty-
Beginning on January 11 , 198Q_, the wm of ~1 Dollars,
and the carne amount on the same day of each month for.__,1 consecutive months until this note is paid.
The aforesaid payments tie to be applied first to interest at the rate aforesaid due upon the prindpal sum or so much thereof
u shall from time to tune remain unpaid, and the balance of each payment shall be applied to the reduction of the principal.
AU payments of interest and principal are 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, 1n lawful money of the United Stites. !f any of said payments of interest and
principal shall not be paid when due then the entire principal wm and accrued interest shall become due and payabk at once, at
the option of the holder of this note.
Thu note is to be construed and enforced according t e laws of the State of Florida, and is secured by mortgage on real
estate Dated NnV _ 1 9 , l9_ZQ.
If default be made in the payment of any of said sums or ' crest or in the performance of any agreements contained here,
or in performance of the terms of the mortgage retort this no ,then, at the option of the holder of the same, the principal
wm then remaining unpaid with accrued interest shall im ' to become due, payabk and collectible without notice, time
being of the essence of this contract, and said principal wm and said cerued interest shall beu interest at maximum rate then
allowed by law, from such time until paid. The holder is given and agreed to have the right of setoff against all deposits, accounts,
credits and other property of each maker. gwnntor~nd endorser in possession or control of the holder [or any and various sums
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Any language in said note or mortgage tot a con vary notwithstatsding, no ntercst shall be charged or colkcted in excess
of that allowed by Florida law, and in the event o he oelention of the more ge, and the notes secured thereby, any prepaid
and unearned interest and points en excess of a la a of interest to the da of enforcement of payment shall thereupon be
refunded to the Mortgagor autornatiglly by the crcdt ' of same against th sum then due, but such credit shall not cure or
want any defaeslt ocysioning aceelention.
Each mater, guarantor and endorser waives presentme protest, rwti of protest and notice of dishonor and agrees to all
vests, including a reasonabk attorney's fee and any attorney's fees incurred n appeal, w ther wit be brought or not, if counsel
shall after maturity •~f this note or default hereunder or under said more , be emplo to collect this note or to protect the
security thereof.
~ DETAILS OF LO
Checl i! appliabk: 1. Nn notice of recession required 3. ? once of tecission required
2. ~ No Uaod i cur ce required 3. ? food insurance required
MORTGAGE PAYMENTS made in nsec eve m?~ hl v yments o f~. 941.98 each, the first of said pay-
ments due -,tan . 11 19~Q. yme is may includ tax and nsurance escrow. CONSTRUCTION LOAN (if
applicable): Interest accrued at ~ per an m ayable up to , 19 on amounts
disbursed from the construchun fund, tin that dat r tiler payment begin.
INSURANCE: Credit life andlor disability inwrance not required, ffercd or rovided for. Property inwrance (fire and psualty)
es required. Flood inwrance in certain designated ueas is also rcq red. Mort ge life inwrance is not required. Such insurance as
is required ur desired may be obtained from or through any duly tensed pe son or company that Borrower may choose, subject
to Lender's right to refuse an insurer for good Huse. The Bank n, if you 'sh, orange for mortgage life enwnnce, but not for
property insurance, fire insuran or insurance
LATE PAYMENT AND DEFAU T: Borrowers subject to a ate chu not to exceed 2'b of any installment unpaid (or 10
days after the due date with a mi ~ um charge a may be rea ably imposed by the bank from time to time; after default or
maturity the principal sum remaini unpaid and ccrued inter t shall both bear interest at the maximum rate then allowed by
f law. Borrowers shall pay all costs of c tion.
~ S~:CURITY AND SETOFF: Lwn is recur y a mortgage of NAV _ 12 , 19~_on the real estate described,
therein together with all appliances and items now or hereafter attached to or placed on the proputy and considered fixtures.
The Bank is given the right of setoff against sU deposits, credits and other property of Borrowers in the possession or control of '
the Bank, fo? the indebtedness, though unmatured. The mortgage will secure future or other indebtedness and will cover after
~ acquired property. PREPAYMENT- Borrowers may at any time prepay in full or in part any unpaid ba4nce without penalty.
Any partial prcpayrnent 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 ten•ice
fee for said aswmption. Such assumption shall be granted at the bank's sde discretion.
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I acknowledge the receipt of a completed copy of this note prior to signature, and that it is correct.
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Maker's Address:
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79n SrntrhtrPSr ~lst- TErr__a~_r•csT, ~ ~t (SEAL)
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Fort Lauderdale , Florida 33312 - ~ v ,
soft ~ v-"~- (SEAL)
(SEAL)
imotny Ne son
~/b/a 3-N Investments (SEAL)
" , B~~ 322 PdGE 1650