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HENDLEY, JR. and THELMA M. HENDLEY, his wife, to First Federal
Savings and Loan Association of Fort Pierce, dated August 24,
1976, and is recorded in O. R. Book 256, Page 2458 of the
Public Records of Saint Lucie County, Florida, in the principal
amount of $87,500.00.
PROVIDED AI~O~AYS, that if said Mortgagor shall pay
unto said Mortgagee the certain promissory note hereinafter
substantially copied or identified, to-wit:
_ .S
PROMISSORY NOTE
$44,250.00 Fort Pierce, Florida
December 21, 1979
For value received, I, eve or either of us, promise
to pay, without defalcation, to the order of FLORIDA BANK AT
FORT. PIERCE, 501 Orange Avenue, Fort Pierce, Florida 33450,
the sum of $44,250.00, with interest from date at the rate of
16 percent per annum, in 36 monthly installments as follows:
$1,555.70 on the 21st day of January, 1980, and a like sum
on the corresponding day of each month thereafter until the whole
be fully paid.
The principal outstanding under this Promissory
Note may increase and decrease over the term hereof, provided
that at no time shall the total outstanding principal balance
exceed the sum of $44,250.00: Upon the happening 9f any future
advance hereunder , the amount of the month ~ y navmr-~n+: ~ha i i 1,P
increased by an amount necessary to amortize such additional
.principal amount, plus interest at the rate of 16 percent per
annum, over the remainder of the term of the oric3inal 36
month repayment schedule.
Each installment shall first be applied in payment
of the interest and then on the unpaid balance of the principal
sum. If default is made in the payment of any installment
when due, and such default continues 30 days, then at the op-
tion of the holder, and without any other notice, all the
remaining installments shall be due and payable at once.
j Privilege is given to prepay this Note in whole or in part at
any time without penalty. Neither forebearance, nor acceptance
_ by the holder thereof after any default in payments hereon,
shall be deemed an extension. A late-payment charge of $77.79,
shall be added to each installment remaining unpaid ten days
after its due date, and a like sum shall be added to each install-
ment remaining unpaid ten days after each succeeding payment date.
Each maker, surety and endorser hereof, jointly and
i severally, waives demand, presentment, protest and notice of pro-
test for nonpayment, and further agrees to any extension of time
i of payment, either before or after maturity, without notice to
any of us; and to pay all costs of•collection, including a
reasonable attorneys' fee for any and all proceedings, appellate
or otherwise, in the event of any default hereunder, and hereby
severally waives all benefit of bomsstead and exemption under'the
constitution and laws of each State of the United States, as
against this obligation or any extension or renewal hereof.
~,Titness the hand and seal of each party.
obert J. Hendley, r.
s
Thelma ~~I. Hendley
This Mortgage is given for the purpose of securing loan
' advances which the Mortgagee is obligated to make to the Mortgagors
f
pursuant and subject to the terms and provisions of a certain loan
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