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MORTGAGE NOTE
Principal Amount: $12 ,000.00 Date of Note: October 3 , 2980
Maturity Data: November 1, 1985 "
lnterest Rate: 12 . SOS
Amortization Period: From the day hereof to Maturity Date.
Instalment Payment: $269.98
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First Instalment Payment Date: December 1, 1980
The Payee: Sun Bank of St . Lucie County
Address: p , O. Box 8
FOR VALUE RECEIVED, the undersigned and if more than one, jointly and severally (the M~lcer), does hereby covenant
and promise to pay to the order of the Payee, or to its successors or assigns, at its principal office, or at such other place az the
Payee may designate to the Maker in writing trom 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 payabk during the Amortization Period in equal monthly instalments, each
in the amount of the Instalment Payment, the first such Instalment Payment to be due on the First Instalment Payment Date
and subsequent Instalment Payments shall be due on the same 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 instal- '
ment when paid shall be applied first to "the payment of interest on the unpaid balance at the lnterest"Rate and the remainder
thereof to payment on account of principal.
If any Instalment Payment shall not be paid when due, then the entire principal sum and accrued interest hereunder shall
become due and payable at once ur thereafter, at the option of the holder of this Note. The Payee ntdy, at its option, collect
a late charge not to exceed five cents for each one dollar of each Instalment Payment not paid when due to reimburse the
Payee for expenses of servicing delinquent lnstalntent Payments. Failure to exercise these options shall not constitute awaiver-
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 reazonable attorney's fee, including all costs, expenses and attomey's fees for any retrial, rehearing of
appeals, on failure to pay any Instalment Payment or any accrued intere"st or any other wms 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 anrwm in the State
of Florida from the date when the principal and accrued interest under this Note. shall be due and payabk. Notwithstanding
any term, condition, obligation or provision herein to the contrary, it is the expressed intent of the Payee that no interest,
i consideration or charge in excess oC that permitted by the law of the State of Florida may be accrued, charged or taken or
become payable hereunder. In the event it is hereafter determined that the Payee oC this Note has taken, charged or reserved
f interest in excess of that permitted, whether due to prepayment, acceleration, or otherwise, such excess shall be refunded to
the Maker ar credited against"the sums due the Payee hereunder.
` This Note is secured by a mortgage (the Mongage), dated the date hereof, of property situated in the State of Florida, _
granted by the Maker to the Payee, to which reference is hereby made for a description of the mortgaged property, the nature
and extent of the security, the rights of the Payee in respect thereof and the terms and conditions upon which this Note is
issued. "
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 owner: of the property affected by the Mortgage, whether with or without notice to the
hlaker, and the Maker shall continue liable "to pay the amount due hereunder, but with interost at a me no greater than the
Interest Rate, according to the termc of any such agreement o! extension or modification.
The unpaid balance of the Principal Amount, plus accrued interest shall become due and payabk at the option of the
Payee under the happening of ara event by which said balance shall or may become due and payabk under the tenors of the
Mortgap~e.
This Note may not be changed orally, but only by an agreement in writing, signed by the party against whom enforcement
of any waiver, cfiattge, rrtodifieatiort, or disciwr8es is sought.
All pubes to this Nate, whether Maker, principal, wrety, guarantor or endorser, hereby waive presentment for payment, "
demand, protest, notice of protest, and t~tke of dishonor, and expressly agree jointly and severally to remain and continue
t 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 for the payment of said principal or interest, or any chan8~e or changes in the amount or amounts
agreed to be paid under or by virtue of the obligation to pay provided for In this Note, of any change or change: by way of -
release or surrender or substitution of any seal property and collateral, or either, held as security for this Note, and waive all
and every kind of notice of wch extension or extensions, change or changes, and agree that the same may be made without
the joinder of the Maker.
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t.~, ~x 3~1 p~E X85
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