HomeMy WebLinkAbout1050 MORTOAOE.NOTE f
AMOUNT t.OCATIt)N GATE
is 20.500.00 Ft. Pierce, Florida June 18, 1980
FOR VALUE RECEIVED, the undersigned, (lointly and severally, if more than one) Promises to pay to
Linda Lou Price Streeter, a married person
2609 North Avenue Fort Pierce, Florida 33450
or order. in the manner hereinaher specified, the principal sum of
Twenty Thousand, Five Hundred and No/100 (S 20,500.001
1~Jith interest from date at the rate of ~ Z.000OPer cent, per annum on the balance from time to time remaining unpaid. The said principal
and interest shall be payable in lawful money of the United States of America at Ft. Pierce, Florida
or at such place as may hereafter be designated by written notice from the holder to the maker hereof, on the date and in the manner following:
Principal and interest is payable Monthly in equal installments ag follows: RePinninR
on -July 18, 1980, the sum of X231.21, and tre sam_P amount on the same day of each
month, in each year thereafter, until the entire
principal sum of X20500.00 together with interest, as herein provided, has been paid
in full.
All payments are to be applied first to interp~tt at the rate specified herein upon the •
principal sum of X20500.00, or so much thereof, as may from time to time rerlain unpaid
and the balance of each payment shall be applied Lo principal.
This note is prepayable in xhole or in part at any time t~~ithout penalty.
phis note with interest is secured by a mortgage on real estate. of even date herewith. made by the maker hereof in fsvor of the
said payee, and shall be construed and enforced according to tM Isws of the State of Florida The temps of said mortgage
are by this rtference made a pan hereof.
If default be made in the payment of any of the wms or interest mentioned herein a in said mortgage, or in the performance
of any of the agreements contained herein or in said mortgage, then the entire p~ incil~al sum and accrued interest shall at the option of the
holder hereof become at once due and collectible without notice, time being of the essence; and said principal wm and accrued interest shall
both bear interest from wch time until paid at the highest rate allowable under the laws of the State of Flori d2 Failure
to exercise this option shall not constitute a waiver of the right to exercise the same in the event of any wbsequent default.
Each person liable hereon whether maker or endorser, hereby waives presentment, protest, notice, notice of protest and notice
of dishonor and agrees to pay all costs, including a reasonable attorney's fee, whether suit be brought or not, if, after maturity of this note
or default hereunder, or unde? said mortgage, counsel shall be employed to collect this note or to protect the security of said mortgage.
Wherever used here in the terms 'holder', 'maker' and 'payee' shall be construed in the singular or plural as the context may
require or admit.
MAKER'S ADDRESS
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AND the mortgagor hereby further covenants and agrees to pay promptly when due the prin-
cipal and interest and other sums of money provided for in said note and this morggsge, or either;
to pay alt and singular the taxes, assessments, levies, liabilities, obligations and encumbrances of
every nature on said property; to permit, commit or suffer no waste, impairment or deterioration
of said land olr the improvements thereon at any time ; to keep the buildings now or hereafter ou
said land fully insured in a sum of not less than its full insurable value, but in no event less than the
amount secured by this mortgage, in a company or companies acceptable to the mortgagee, the pol-
icy or policies to beheld by, and payable to, said mortgagee, and in the event any sum of money
becomes payable by virtue of such insurance the mortgagee shall have the right to receive and ap-
ply the same to the indebtedness hereby secured, accounting to the mortgagor for anS surplus; to
pay all costs, charges, and expenses, including lawyer's fees and title searches, reasonably incurred
or paid by the mortgagee because of the failure of the mortgagor to promptly and fully comply
with the agreements, stipulations, conditions and covenants of said note and this mortgage, or
either; in the event the mortgagor fails to pay whin due any tax, assessment, insurance premium or
other sum of money payable by virtue of said note and this mortgage, or either, the mortgagee may
pay the same, without waiving or affecting the option to foreclose or any other right hereunder, and
all such payments shall bear interest from date thereof at the highest lawful rate then allowed by
the laws of the State of Florida.
IF any sum of money herein referred to be not promptly paid within thirty days next after
the same becomes due, or if each and every the agreements, stipulations, conditions and covenants
of said note and this mortgage, or either, are not fully performed, complied with and abided by,
then the entire sum mentioned in said note, and this mortgage, or the entire balance unpaid there-
on, shall forthwith or thereafter, at the option of the mortgagee, become and be due and payable,
anything in said note or herein to the contrary notwithstanding. Failure by the mortgagee to exer-
cise any of the rights or options herein provided :hall not constitute a waiver of any rights or op-
tions under said note or this mortgage accrued or thereafter accruing.
80 Pa6E~~
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