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Home My WebLink About0601 MORTGAGE yOTE 25,000.04 s ~ Mar^h 3 , t9$~. For wlue teaired, tl?e utdsrsignsd lotntly and severally promise to pay 'o the order of FIRST NATIt~1AL BANK OF PALM BEA4~ GAIiD~,, , N . A . r • tM principal stem o[ with lateral thscwa from date at the rata of ~ ~ paid ss follows: ~ ~rl~-~ ~ ~ nt per annum, t e inlet t aced principal of this note to M qu y payments, beginnin; on June 1980, and on the same day of eac3z quarter thereafter, the first three o~said quarterly PaY~~ b~ be in the sun of $1000.00 principal phis accrued interest, with the fourth and final ballooln c~arterly installnrPnt of the entire remaining unpaid principal balance and avcn>ted interest due and payable on the .day of March, 1981.• . f4 ; eM-zwstrvf ~ - s ) i The aforesaid payments ate to be applied fast to interest at the rate afores~d due upon the psinsapal sum or so much thereof as sltW from time to time remaut uapard, and the balance of each payment shall be applied to the reduction of the prutcipal. AU paymtents of interest and principal are payable at the offke of the payee in the city above set forth, or ac such ocher Place as tits holder may designate in writing, in lawful mousy of the Vatted States. If any of said payments of intersa and ptindpal shall not be paid when due then the entire principal sum aM accrued interest shall become dw and payable at once, at • the option of tM holder of thu note. _ i seal. ~ ~ Ma r h 3 uwd lad 80 orced accorditts to the taws of the Scats of Florida, and is sutured by nwrtp~ oet real U default be made in the payment of nay of said Burns or interest of in the performance of any agrostrsents contained hero. or in perfarntartos oI tM terms of the mortgage secutia~ this note, rhea, at the option of tfie holder of the ssmsr. the ptirscipsd sum tMa rorrtainirsg unpaid with accrued interest shall unmediately become due, payable and catkctibk without notice, time beiteg of the esasnce of this contract. and said principal wm lad said accrued interest shall bear interest at maximum rate rhea allowed by law. tiom such time until paid. The holder is given and agreed to have the tight of setoff against all deposits, accounts, credits ar?d other pwperty of each maker, guarantor and endorser in possession or control of thrhoWet for nay and tnuious wms dw herourder. without roquirotneat of notice. Aay languap in said note a mortgage to the contrary notwithstanding. no interest shall be charged of collected in excess o[ that allowed by Florida law. and in the event of the acceleration of the mortgage, and the notes secured thereby, any prepaid and uneattsed interest and poiau is exass< of a lawful rate of interest to the date of enforcenteat of payment shW thereupon bs refunded to the 9fortpaor automatically by the crediting of same agaiua the stun then dw, but such aedit shalt not cure or waive ear default aoasioaing sooeieradoa. Eadr maker. guarantor and endorser waives preseatsnsnt. pmtat, notice of protest and notice of dishonor and agrees to all cues, iodudiag a rasomble attortrsy's fee and nay attorney's [ea incurred on appeal, whether suit be brought or not, if counsel shall after maturity of this non or default heauadsr or under said mortgage. bs empbyed to collect this note or to ptoter:t the seeuritr thereof. DETAILS OF LOAN C7weJt J appiirabN: 1. ? No notice of recision required 3. ~ ~tonce of recision required 2. ~7 No flood irewraace required i. ? Flood insurance }}roquired lIORTGAGE~AYJ~[EI~ITS nude in ~consecu ymeats of iI0~0 -a „'~Cltl~tim of sad pay. manq dw t1lle . 19 .Payments may insurance escrow. Interest accrued at ~ per annum payab up to ,14$L.~, ow-uneen~ iN3URAPK"E: C.rsdh Uri ard/oc dUabtUty inw:arta ,not required, uttered or provided [or. hoparty inwrance (tits and awalri) d requited. Flood inastatsp in certain designated areas is also required. Jlortgsge life instsrartce is not required. Such insutann a N tequirod or desired nay bs obtained from or through any duty Uccnsed person or company that Borrower may chooas, wbjsct m Leader's tight to refuse as insttrsr far good reuse. Ths Banlt can, it you wish, utange for mortgage life insurance, but not Ea ptopeny itsarrarsoe, tiro iaattaaoe or Rood' iawrancs. LATE 1!AYbIENT AND DEFAULT: Borrowers aro wbject to a late chugs pot to exceed 29ti of any iostaUrnsM unpaid for 10 s days after tits dw dais with a minimum charge u may bs reasonably imposed by the bank from time to time: after default or matttritr the Pty sum tesnaiaing unpaid and usxued lateral shall both beu interest at the maximum tea dtsa allowed by law. Bottosrps shall par all coal o[ collection. _ SECIIRTTY AND SETOFF: Loan is secured by a mottgag0 of._~~rch 3 . 19g~~ on rlss real seats desrnbed. ' therein togetbst with all appliance asd itenq now or hereafter attached to or pieced on the property and considered tixtuta. The 8aok is given the right o[ setoff against all deposits, credits and outer property of Borrowers is the posseuioa or conu,,l of the Bank, for ties indsbtedaess, thou~t ustrnatvted. Ths atortgage will secure futtue or other indebtedaesl aid will cover after I acquired property. PREPAYti[ENT: Borrowers may at any time prepay in full or in part nay unpaid balance without pe~al~y. Any partial ProMY~t shag be applied against the sums wlticb will lea become due hereunder but shall cot otheniss affect the dw dates a antouaa of payments. ASSUMPTION: If aswsnptioa of this loan is permitted by Bank, Bank an,l charge a service fee [or said aawtssption. Such assumption shall be granted at the beak's sots discretion. l a:kaowisdge the receipt of a completed copy of this note poor to sigrracuts, and that it is eorteeL 4 btaicer's Address: iSEAL) Richard J. Meehan I,akewnod C. Irv _r-i•t~ut (SEAL) Carole P. 19eehart, his wife 't Zlecntt~ta. Flhrida ~~458 .'SEAL) i (SEAL) ~~~~K327 PACE 6(l0 _,51 ,F ORIGIY.~L A. - _ . _ -