HomeMy WebLinkAbout2425 PROi~QSSORY IJO'IE
Ft. Pierce, Florida
April 16 , 1980.
AFTER DATE, for value received, the undersi.~ed a~ees to pay
to the order of RALPH A. JEPISEN and CAROIR A. JENSEh, his wife, at 8225
Los Pinos Circle, Coral Gables, Florida 33143, or at such other place
as the ;.ayee shall designate in writing, the principal sum of SEVEIII'Y
TEIOUSAIJD Alm NO/100 ($70,000.00) DOLLARS, to~+ether with interest as herein
below set forth, from date on the unpaid balance in monthly installments
as follows:
This Note shall bear interest at the rate of eleven and one-half
(lI'zn) percent per annu,-m. Payments shall be in the amount of
SEVEtI HUNDRID ELEVEN AND 53/100 ($711.53) DOLLARS per month,
bein, applied first to interest, remair~der to principal. The
first installment shall become due and payable on the 16th day
of i~Say, 1980 and continuing on the 16th day of each and every
consecutive month thereafter until fully paid. After January 1sL,
1981, this 1V'ote may be prepaid in part or in full without penalty
or interest beyond the date of payment
If the maker hereof shall fail for a period of thirty (30) days
to pay any installment when due, then all other installments or sums r~erriaining
unpaid shall, at the option of the payee, immediately become due arx3 payable
as though stipulated to be paid on that date.
A condition for the-making of payments hereunder, by the maker
hereof or his assigns, pursuant to the terms of this Note, IS THAT the payee
or his assigns must make ar~d keep current all payments of principal and interest
that may be required, pursuant to the terms of that certain i'~lortgage in favor of
Citizens Federal Savings & Doan Association of St. Lucie County, dated October 16,
1975, and filed for record October 17, 1975, being recorded in 0, R. Book 244,
at Page 2734 of the Public Records of St. Lucie County, Florida.
In the event that the payee hereof is required by Citizens Federal
Savings & Loan Association of St. Iucie County to pay the real estate taxes
I~; by one-twelfth (1/12th) each month as a condition of that Ebrt~e, then the
payee hereof shall be entitled to charge the carne amount to the maker hereof
in addition to the above and foregoing payments of principal and interest.
In the event the payee or his assigns shall fail to pay upon the
aforesaid first r~ortgaF;e, then ttY~ maker or his assigns shall be entitled to
I pay the same directly to the-said first rrortga~;e holder and ta,take a credit
for the same against the payments that may be due the payee or his assigns
herein until such time as the said payee shall commence to make payments to
the first mortgage holder and due notice of the aforesaid shall be given to
the maker.
The true amount of NEW funds financed under the terms of this
"41RAP-AROUND" Note is $ 3~,.4c1D ~a .
The payee represents that the "WRAP-AROUND" ;dort~ge will be flally
paid and discharged before the final payment on this Note is due.
Each maker and endorser Beverly waives demand, protest ar•~d notice of
maturity, non-payment or protest and all requirements necessary to hold each
of them liable as makers and endorsers.
Each maker and endorser further a~ees jointly arxi Beverly to pay all
costs of collection, including a reasonable attorney's fee in case the principal
~ of this Note or any payment on the principal or arty interest thereon is nat paid
a at the respective maturity date or in case it becomes necessary to plotect the
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