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M4RTGAGE_
NOTE
PPINCIPAL AMOUNT: X10,700.00 -
h1ATURITY DATE: NOVEMBER 1 198? -
INTEREST RATE: - '
Ah10RTIZATION PERIOD:12Seven (7~ Years
I;v'5TALLMENT PAYMENT: 188 8 -
r I3ST INSTALLMENT PAYM~NT bA'I'E: NOVEMBER 1 1980
DATc OF NOTE: OCTOBER 1, 1980
I'OR VALUE RBCEYVED, the undersigned and if more than one, jointly and severally (the Maker),
does hereby covenant and promise to pay to the order of RAY LEIN, or to his successors or
:assigns (collectively the Payee) at Post Office Box 403, Fort Pierce, Florida 33450, or such
other place as the Payee-may designate to the Maker in writing from time to time, in legal
tender of the Unites 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 and the remainder thereof to payment an 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 costa of collection of this Note, including a reasonable attorney's
roe, 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
t
~ hereunder shall bear interest at the highest lawful rate of interest per annum in the State
~ of Florida from the date when the principa], and accrued interest under this Dote shall be ~
due and payable. The total interest payable hereunder shall not in any one year exceed the
highest lawful rate of iritereat in the State of Florida.
'~~~is Note is secured by a Mortgage, dated the date hereof, of property situated in the State
of Florida. ~
T
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 Maker, 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. '
1
The unpaid balance of the Principal Amount, plus accrued interest shall become due and
payable at the option of the Payee under the happening of an event by which said balance j
shall or may become due and payable under the terms of said Mortgage.
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.
i
~til parties to this Note, 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 f
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 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 charges, and agree that the same may be made without the joinder of the Maker.
Prepayment•in whole or•in part at any time without pe t ran
' I~ I }
A NI
Sao 3~1 pbcE 542 ~~'',~.~____(LS)
- SUE H. DUNNING,Uhis wife