HomeMy WebLinkAbout0178 MORTGAGE NOTB
PRINCIPAL AMOUNT: $10,000.00
MATURITY DATE: September 15, 1983
INTEREST RATE: lOX per annum
AMORTIZATION PERIOD: 36 Months
INSTALLMENT PAYMENT: $322.68
FIRST INSTALLMENT PAYME*!T DATE: September Z5, 1980
DATE OF NOTE: August 15, 1980
FOR VALUE RECEIVED, the undersigned and if more than one, jointly and severally (the Maker),
rocs hereby covenant and promise to pay to the order of SANDRA SUE KEARNEY and PETER JOHN
KEARNEY, or to their successors or assigns (collectively the Payee) at c/o R. L. McLeod,
203 Harrison Avenue, Belleair Beach, Florida 33535, or such other place as the Payee may
designate to the Maker in writing from time to time, in legal tender of the United States,
the Principal Amount together with interest at the Interest Rate on the unpaid balance of
the Principal Amount.
The sums due and owing hereunder shall be payable during the Amortization Period in equal
monthly installments, each in the amount of the Installment Payment, the first such Install-
ment Payment to be made on the First Installment Payment Date and subsequent Installment
Payment on like day of each month thereafter until the Maturity Date whereupon the entire
unpaid balance of principal and interest accrued and unpaid thereon shall become due and
payable; each such installment when paid shall be applied first to the payment of interest
on the unpaid balance at the Interest Rate act the remainder thereof to payment on account
of principal.
If any Installment Payment shall not be paid when due, then the entire principal sum and
accrued interest hereunder shall become due and payable at once or thereafter, at the option
of the holder of this Note. The Payee may, at its option, collect a late charge not to
exceed two cents for each one dollar of each Installment Payment. Failure to exercise these
options shall not constitute a waiver of the right to exercise the same in the event of any
subsequent default.
It is further agreed that the Maker and each endorser, surety, guarantor, jointly and
severally, shall pay all costs of collection of this Note, including a reasonable attorney's
fee, and including any appellate proceedings, on failure to pay any Installment Payment or
any accrued interest due hereunder on the due date thereof. This Note and all sums due
hereunder shall bear interest at the highest lawful rate of interest per annum in the State
of Florida from the date when the principal and accrued interest under this Note shall be
due and payable. The total interest payable hereunder shall not in any one year exceed the
highest lawful rate of interest in the State of Florida.
This Note is secured by a Mortgage, dated the date hereof, of property situated in the State
of Florida.
The Maker agrees that it shall be bound by any agreement extending the time or modifying the
above terms of payment, made by the Payee and the owner or owners of the property affected
by said Mortgage, whether with or without notice to the Mauer, and the Maker shall continue
liable to pay the amount due hereunder, but with interest at a rate no greater than the
Interest Rate, according to the terms of any such agreement of extension or modification.
The unpaid balance of the Principal Amount, plus accrued interest shall become due and
payable at the option of the Payee under the happening Qf an event by which said balance
~ shall or may become due and payable under the terms of said Hortgage.
This Note may not be changed orally, but only by agreement in writing, signed by the party
against whom enforcement of any waiver, change, modification or discharge is sought.
~ ~'~11 parties to this Nete, whether Maker, principal, surety, guarantor or endorser, hereby
waive presentment for payment, demand, protest, notice'of protest, and notice of dishonor,
and expressly agree jointly and severally to remain and continue bound for the payment of
the principal and interest provided for by the terms of this Note, notwithstanding any
extension or extensions of the time of, or fdr~the payment of said principal or interest, or
any change or changes in the amount or amounts agreed to be paid under or by way of release
or surrender or substitution of any real property and collateral or either held as security
for this Note, and waive all and every kind of notice of such extension or extensions,
change or changes, and agree that the same may be made without the joinder of the Maker.
. C' .e~L~
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