HomeMy WebLinkAbout0054 MORTGAGE NOTE
: 9, ooo. oo principal
_ Interest
s 19, 460.40 ~ Faeroe Florida
Dec;enber 28, 19 79
FOR VALUE RECEIVED, the undersigned jointly and severally promise Lo
pay Lo the order of FLORIDA 1ORTGAGE ASSOCIATES, 1NC. , a Florida cor-
poration, whose address is 520 N . W. 165th St. Road, N . Miaaai, Florida 33169,
the sum of FOUR SIXTY AID 40/100-
~ ,
n consecu ve mon y is 162.17 ~ each, in la u money of
the United States of America, at the above a rasa, or at such other place as
~er hereof may designate in writingq, commencing on the first day of
19 80, and on the first day of each consecutive month thereafter
un pa in full- All payments shall be applied first to interest at the rate of
X18 ~ per annum, and then to principal.
• No delay or omission on the part of the holder in exercising any right
hereunder shall operate as a waiver of such right or of any other right under
this Note. No waiver of any right shall be effective unless in writing and
signed by the holder nor shall any waiver on one occasion be construed as a
bar to or waiver of any such right on any future occasion.
Each maker, endorser and guarantor waives the right to exemption under
the Constitution and laws of Florida, and waives all requirements necessary to '
hold each of them liable as makers, endorsers and guarantors and jointly and
severally, agrees to pay all costs of collection, including a reasonable attorneys'
fee, on failure to pay the principal of this Note or any interest thereon at
maturity, whether suit be brought or not, and including in the event of 'appeal
by either party. -While in default, this Note and all sums due hereunder shall
bear interest at the maximum rate permitted by law from the date when due
until paid . Each maker and endorser agrees to pay a late charge in an amount
equal to five per cent (5.0~) of any payment received by the payee more titan
ten (10) days after the .date such pay~pet?t is due.
If any of said installments of principal or interest shall not be paid when
due, then the entire principal sum and accrued interest • shall become due and
payable at once, at the option of the holder of this Note. Failure to exercise
I! such option shall not constitute a weaver of the right to excrrcise the same In
the event of a subsequent default.
From time to time, without notice to any endorser(s) or guarantor(s), this
Note may be renewed, amended, modified or supplemented, in whole or !n part,
the ~aaturity date of this Note may be extended, the rate of interest herein may
be charged , fees in consideration of loan extensions and interest on late pay-
~ manta of principal and/or interest may be imposed by the holder of this Note
and any related right or security therefor may be waived, exchanged, surren-
d~red or otherwise dealt with and any of the acts specified in this Note may be
done without affecting the liability of the maker, endorser(s) or guarantor(s),
each of whom agree to remain liable under this Note until the debt represented
hereby is actually paid in full to the holder. The release of any party F~ache
upon or in respect to this Note shall not release any other such party.
of the guarantor(s) and endorser(s) and the maker hereby waive presen
a
e~ ,
demand of payment, protest and notice of non-payment and of protest y
and all other notices and demands whatsoever.
This Note is secured by mortgage upon real property in st. Iucie
County, Florida, the terms of which are by reference made a part~eof:
This Note is to be construed according to the laws of Florida.
It is the intention of the maker(s), payee, endorsers and guarantors
hereof to comply strictly with all applicable usury laws, and, accordingly, in no
event shall the holder of this Note bo entitled to receive, collect, or apply as
interest any interest, fees, charges, or other payments equivalent to interest,
. In excess of the maximum amount which may be charged from time to time under
g~~~ 323 P.GE 54
EXI~IBIT Amt