HomeMy WebLinkAbout1314 ~ ,a~10UN1 I.OCATION^ DATE
js ~,Q00.00 ~ Port St. Lucie, Florida (November 14, 19ROI
FOR VALUE RECEIVED, the undersigned, (lointly and severally, if mote than one) promises to pay to
John A. Jacob and Ruth E. Jacob, his wife
~r order, in the manner hereinaher specified, the principal sum of
Seven Thousand, and No/100--------------------------------------------IS 7,000.00 l
ti4•~th interest from date at the rate of l0, 0000 per cent, er annum on the batanc~ y ti e.to time remainin unpaid. The said rincipal
' c.,d interest shall be payable in lawful money of the United States of America at L~4~~g r~ g q p
or at such place as may hereafter be designated by written notice from the holder to t
1e
makelhere~f, bn~heOdate~and In~fi~manner fotlov..
This Note is payable Quarterly in equal installr.>erits as follows : Begiiming on
February 14th, 1981 the sun of $320.39, and a like sum payable on the same day in
each May, August, November, and February, in each year thereafter, until the entire
` principal sun of $7,000.00 together with in t, as herein provided, has been
G\1
• paid in full . ~ •
~ •
In addition to the payments pro ~oY:above, the entire pricipal sum retraining un-
paid, together with accrued irate temaining taipaid, shall be due and payable on
November 14th, 1983 which final pa t shall be in the amount of $5,319.75.
All payments are to be applied first to interest at the rate specified herein upon
the principal sum of $7,000.00, or so much thereof, as may from time to titre remain
unpaid and the balance of each payment shall be applied to principal.
This noteis prepayable in whole or in part at any time without penalty.
This note with interest is secured by a mortgage on real estate, of even date herewith, made by the maker hereof in favor of the
~a:ci payee, and shall be construed and enforced according to the laws of the State of FlOrlda The terms of said mortgage
~•e by this refere~ ~ h~t~
If~(fe au t e ma a In t payment of any of the sums or interest mentioned herein or in said mortgage,-or iw;the performance
any of the agreements contained herein or in said mortgage, then the entire principal sum and accrued interest shall at the option of the
- 'der hereof become at once due and collectible without notice, time being of the essence; and said principal sum and accrued interest shall
:;~;h bear interest from such time until paid at the highest rate allowable under the !am of the State of Florida Failure
o exercise this option shalt not constitute a waiver of the right to exercise the same in the event of any subsequent default.
Each person liable hereon whether maker or endorser, hereby waives presentment, protest, notice, notice of protest and notice ~
:,t d;shonor 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 under said mortgage, counsel shall be employed to collect this note or to protect the security of said mortgage. F
Wherever used here in the terms 'holder', 'maker' and 'payee' shall be construed in the singular or plural as the context may
squire or admit.
MAKER'S ADDRESS
/s/ Robert McK Foster, as ~•ustee,
'~Lrt~age Note a Robert Mr.K ~oS er. as Trustee _
yUTldier can 1mre00 TriLSt~Ace-
ment pursuer on 1, F..3~ ,
ai>!d not indivi'aually
AND the mortgagor hereby further covenants and agrees to pay l,romptly when due the prin-
cipal and interest and other sums of money provided for in said note and this mortgage, or either;
to pay all and singular the taxes, assessments, levies, liabilities, obligations and encumbrances of
every nature un said property ; to permit, commit ur suffer no waste, impairment or deterioration
I of said. land or the improvements thereon at any time; to keep the buildings now or hereafter on
k 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 be held by, and payable tu, said mortgagee. and in the event any sum of money
I becomes payable by virtue of such insurance the mortgagee shall have the right to receive and ap-
l ply the same to the indebtedness hereby secured, accounting to the mortgagor fur any surplus; to
pay all costs, charges, and expenses, including la++•yer's fees and title searches, reasonably incurred s
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 faih to pay +vh;m clue any tax, assessment, imurance premium or
other sum of money payable by virtue of saict note :rnd this mortgage, or either, the mortgagee may
pay the same, +vithout .salving 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 alln+ved by
the laws of the State of Florida.
' thirty
IF any sum of money herein referred to be rant prumptl~• paid within days next after
the same becomes due, or if each and every the agreements, stipulations, conditions and covenants
of said nnte and this mortgage. or either, are not fully performed. complied with and abided by,
F then the entire sum mentioned in said note, and t his mortgage, or the entire balance unpaid there-
on, shall forthwith or thereafter, at the option of t he mortgagee, become xnd be due and payable.
} anything in said note or herein to the contrary nut+vithstanding. Failure by the mortgagee to exec- '
else am• of the rights or options herein provided shall nc?t constitute a .salver of any rights or op-
lions under said note or this mortgage accrued ur thereafter accruing.
X343 ~~13i3
~yz - _ _