HomeMy WebLinkAbout0704 Southeast Sank Note Number
ON THIS .I8 t_, OAY OF Qctober 19~Q._ FOR VALUE RECEIVED, THE UNDERSIGNED
l~rtetnafter molted Maker without regard to number a gender. jointly and severally PROMISE TO PAY TO THE ORDER OF
SOUTHEAST First National Bank of Fort Pierce
I•reutolter called BANK,
LIE PRINCIPAL SUM OF Thirty-two Thousand Eight Hundred Dollars and NO/100(E32,800.OO~o1.1_ARs
t' 1YABLE _ ~CB .~I-~-CZOf3311Q ~ ~
i~Iterest thereon shall accrue from the date of funding, computed on the basis of a 365 day year, at the ANNUAL PERCENTAGE
itATE of _____14.~~*
INTEREST SHALL BE PAYABLE ~ lartQ ya beginning on JaluaYV
10, 1981, and on the lOthda~of~each
and every quarter thereafter with final paymen~ue on April 1D, 1981.
All payments shall be applied first to accrued interest and then to principal. Interest moil. accrue at the rate of t/365th of annual
~ttr:rest for each day that principal is outstanding, but in no event shall interest be due at a rate in excess of the highest lawful rate.
.+'rthout limiting the generality of the foregoing, and notwithstanding any oral or written agreement, no deposit of funds shall be
••flutred in connection with this loan in an amount which will, when deducted from the principal amount outstanding hereunder,
attse the rate of interest hereunder to exceed the maximum lawful rate.
If any payment is not made m full when due, the entire unpaid principal alai accrued interest, less any unearned Interest and any
•terest to excess of the maximum allowed by law and any rebates required by law, shall at the option of the holder become
•tnnedtatety due and payable without rtoUCC. Failure to exercise the option shall not constitute a waiver of the wbsequent rght to
• •••Icrse. AFTER MATURITY, INTEREST SHAII ACCRUE ON THE DELINQUENT PRINCIPAL BALANCE AT THE HIGHEST ,
+~NFUL RATE OF INTEREST OR, IF NO MAXIMUM RATE IS PRESCRIBED BY LAW, AT 1846 PER ANNUM. '
As security for the payment of this note, and any renewals, extensions or modifications thereof, and any other liabilities of the
•.tAKER to the BANK, however or whenever created, MAKER hereby grants to the BANK a security interest in.
1st mortgage on Lot 11, Block 28, PORT ST. LUCIE SECTION TWENTY-FIVE (25),
according to the Plat thereof recorded in Plat Book 13, at Pages 32 and 32A
through 32I of the Public Re rds of St. Lucie County, Florida.
..'.•9her f,r Welt sp@r+f+C properly r5 described attove a d+Ohal Se urdy for the payment ut IMs Note any renewals, extenitom Or moddleatrons
.•+ruf, arxt any other trabdrttK of MAKER to BANK, h we , o. whenever ueatett, MAKER herelsy pledges to BANK any and all property of MAKER
.n u+ hereafter delivered to or felt m of comrny into t e ssesston, coN OI or custody of BANK, whether expressly as Collateral security or for any
•••rr Pwpnse Itncludmg cash, stock and other drwderxls, a all rights to rill! lot secunues trscldem to, declared, or grained m connecuon wdh such
•tter fy 1. arxt Property ftescnlted m collateral receipts or then tlocume s sgrtet) or twmshpl Isy the MAKER, and any and all replacements of any of
IurPtuuly, whether or not rn the possession of Bank. AI ch Pro ty antf any other property securing maker's babdtues to the Bank vwtl hereafter
relerrett to as °the Collateral;' The Collateral rs also pt as rity for al! other halntthes (primary, secondary, duect, contingent, sole, giant or
••.rra11• true o. to ttecwrle clue or which may tx hereafter cone td or acquired, of each Maker hncludrngeach Maker and any other person) to BANK,
..•n•IAlr wch h.dtdmes arse m the ordinary course of twsrness or no . Right n hereby expressly grantM to the BANK at Its option to transfer at any time -
~tsetf of to Its numtrlee any Collateral, and to receive the rncom Ihaeon arfd hold the same as security herefor, or apply tt on fhe p''nupal or interest
hereon or due on any babddy secured hereby. The BANK m continue to hold any Ple<Ign1 property tlepostted hereunder alter the payment of this
.~N, d at the Irrrle of the payment and drschareot any o the parties liable ror.the Payment hereof shall be then duectly or cont+ngenUy (table to
••.r t3ANK as maker, endorser, wrety or guarani of ny other te, draft, hdl of exchange, o. Other mstruntem, or otherw+se, and the BANK may ttfere-
' 'ter eaaau the rrght5 with respect to card ptedgeb pr sty gr need herein even though flits note shall have been swrencMred to the MAKER.
t
It is to+nf!y afttl srvef•IUy cov let) and a+pc rth t e Bank by each MAKER, erltlurser, wrety, guardnto+, and other Marty to flits note (alt of
..•~+,rn are heremalter for treaty cal Ublrgor or OWtyorS) bat
!E Add+hOnS t0, n•t.`auts, rCduCU nS pr Cx ChangPS Ot, Or X+tRtrtUl+OnS IOr tlx Collates at, layments On xcount of flits Juan or rn_r safes Ot the same, Or
~.•r IO.+n? rl M+fr• p.•r (rally Or wh01 ulrOn IhP COllaler dt• may from hint t0 Ume Ile nwde WrthOUl tiff CCUng the Pr OV+S+Onf 01 IhrS nGTe or the habthl+eS Of
.',y party hereto. Bank shall exerci reasonaWe•care rn the custody and preservarlon of the Collateral and shall be deemed to have exercised rsawrtsble
. ,ere d it takes wch acuon for that pu aS M ker shall reasonably request in writing, but n0 omission to comply with any request of Maker shall of it-
.vt) rte deemed a ladure to exercise tea le c r+. Without limiury the generality of the loregomg, the Bank sftall hate no responsibility for ascertaining
,n y matunttes, cat's. conversions, exch ers, tenders or stmdar matters relaung to any of the Cdlatersl,nor for informing the undersigned with re-
~•wa io any tnereot. BANK shall not be bound to take any steps necessary to preserve any rights in the pledged property against prior parties, and
'.1aKER shall take all necessary steps for such purposes. BANK or Its nominee rtaed not collect interest on or principal of any pledged property o. give
rFy noltGe with respect to d.
LJIiOn tfte Iry?tM•nrnq of any Of the tOitO~YlfNt PVPnIt, each OI Whrth Shill COnSbtU1C J [Mr1.Hdt fierl9+nder, (N tl fM• (:Ot4rlr•tdI 5ha11 .lf any lime become -
•_rnstacutry to BANK, w d BANK shaft at any t+me deem •tseif insecure, all habdrhes of each Maker to BANK. wr •rmer o. nut .-v•<irnred by Ili+s note,
• to d+rrrupon o+ 1hrrPafter, at the option of BANK• w+thnut not+ce a uemdnd, become due and payabtP la) ty+ture n1 any Ubtrgv• ro perform any
••r••t•ment fMreurltler or to pay to (ult. when due, any babddy whdlsOever to BANK or any inttallntent If+ereol or interest therPan. Ibl ti,e death of any
t,~.gpr• Ice UtP tdmq of any pelrtton under the Bankruptcy Act, or any s+mdar federal or state statute, by nr ,Ig.i+++st any nbi+gUr• IfL an a1Nlt~catrOn /or
. rrpPpintnrnt'ol a recwver tor, the mdkrnq of a general dssrgnment for the benefit of crMitors tom, or 1ftP rnsOtvency of any Obtwtpr, le) the entry OI a
•fgm•m dg.irnst any Ublgor, 111 the Kwtng of any anachments or garnrshmem, a (tie I,bng of any ben, aga+nst any prOlw.rty nl any Obligor; Igl the
r~ Ong of possessror+ of any wbstantrat past of the prOiterty OI any Obtigot at the initante O) any governmental aulhorrly. Ili) the drssOlufrOn, merges,
nsondatrnn. a +e~rtfaniraaon of any Obligor; Id the ttetermmatron by BANK that a nwtenal adverse change has occurred rn the frnancrat cond+twn of
. Obl,gor torn the cortdraons set forth in the moss recPm hnanc+at statement of wch Obtrgor herewfore turnrshed to BANK, or from the cond+uon of
.r n Obtrgor as fre.rtrtore most recently dtsctosed to BANK rn any manner, or that•any warranty, repreuntaUOn, cerhtreate or statwrtenr of any Obligor
;,nether cuntauted rn IhrS nOIP Or rwl) Pertdnartg 10 Or in COnntCUOr. with Ihfs note Or the loan evidenced by flits nurc rs not (tut, Ill assignment by any
'.t:.KER of arty Ptturty to any of the pledged Cottaterat w+thout tfte wrnten consent of BANK; (?1 ladure to do ah fh~rigs necessary to preserve and
• n~nta•n rt.r• vale attd cotlecUbdrly of tfte Collateral, rncludrrq• but not bmrtM to, the Payment of taxes and premiums 6•t ttotrues ut +nwranc! on the
u.o date wrihnut IrneM nl the grace period
t f1E PROVISIONS ON THE REVERSE SIDE ARE A PART OF THIS NOTE.
Florida First Realty & De•:c:lopnleat, Ire. j
l l ` I
turess _58-J~~ysh~re Rnad /s/ BY : ~ ~-k ~-~c•' -~t- iSEA~)
Jo R. Perroni , Presides+t -
North Fort Myers, Florida 33903
~ _ (SEAL(
~erest rate shall float with the Prime lending rate of. Southeast First Nationa~ ?~nS: of Miami
~e set at 2°~ over prime as established on the first day of each month. Said interest rate
~tablished on the first day of each month shall continue throughout the said month and shall
~-established on t -first pft,each succeeding Itlonth. The Prime rate of Southeast First
~ctrlal Bank of Mianli~~! prese~y -12.5`. '~OR~ p~
_ 3