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Pf?0`!I D~:~ ALWAYS :
that i1' the ;>aid mort~a~;or herein st;all ~ay urit~ i
ttie said r10RTi,AGEL•' herein, the certain ~~romissory i
note hereinafter subs*antially co~~ied or identifie~ci,
to-wit: ~
= 5,500.00
For value received, I, we, or either of us, promise to pay without defalcation to the order of
Harr3s Construction Corporation, as Truatee, , at the offioe of the payee
herein in fort Pierce, Florida or at such other plaoe as fhe pnyee herein shall designate in writing, the
sum of ; 5, 500 . 00 with interest from date at the rate of18 • ~ 96 per annum, payable
in monthly installments as follows, to-wit:
s 139•67 ~ t~ lOth day of'jgn~~ 19 8~ and a like sum
on the oorres~onding day of each like succeedi month thereafter until-p81d lt1 full.
i~otKithatanding the below stated late pena~y as a per~entage of arreara
the applicable late penalty ia understood to be a flat ~15.00 for each
atid every month the within promissory note is in arrearg.
Fort Pieroe, Ftorida ~cember 12 , 19 80,
In the event any amounts currently due and/or past due under the terms of this note are not paid
by the 25ttday of the month, a late penalty of 5.0% of the combined amounts currently due and/or
past due, will be added to and colleded with whataver amounts are due for the month in question. If
currently due and/or past due payments or parts thereof under the terms of this note remain unpaid
at the e~d of any month, then said unpaid amount will be carried forward and added to ihe amounts
coming due under the terms of this note for subsequent months for the purpose of calculating subsequent
late penalties. Amounts due under the terms of this noM are understood to be but not limited to.
(1) Regularly amortized interest and principal payments.
(2) ~ity and/or county taxes when paid by the payee herein.
(3) Insurance premiums when paid by the payee herein.
(4) Senior mortgage payments when paid by the payee herein.
(~ Street, sewer and water liens wfien paid by the pnyee herein.
Each installment first shall be applied in the payment of the intefest and the~ on the unpaid bal-
ance of the principa) sum. If default is rnade in the paymeM of any installmenl when due, then at the
option of the ~older, and without any other .notice, all the remaining installments shall be due and payable at
once. Privilege is given to pay two or more installments at any installment maturity date, bvt this shall
not extend the time of maturity of any subsequent installment. Neither forbearance, nor acceptanoe by
the holder hereof aher any default in any payment hereon, shall be deemed extension.
Each maker, surety and endorsa~ hereof, jointly and severally, waives demand, presentment,
protest and notioe of protest for nonpayment, and further agrees to any extension of time of payment,
either before or after maturity, without notioe to any of us; and to pay all costs of oollection, including a
reasonable attorney's fee in the event of any default hereunder.
WITNESS THE HANDS AND SEAL OF EACH PARTY. ~ s/ Wi 11 i am Ca rdne r J r. ~~~
am ar er , r.
No 785
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