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Home My WebLink About0309MORTGAGE NOTE s S8 . 5~0. ~n .T~~ra~Y ~_ . i9LL f'or value rece~ved, the unde~signrd joindy anci severally promise to pay to the order ot JFNSF."i BEACH RANK theprincipalsumof r' FT~~ EI~I?T T1'.Ot,'SAND FIVF. liUNi1R~D Dollars, with interest thereon from date a~ thr rate of ~~S pcr aot per annum; thc interest and principal of tAis note to be paid as foilows: Btginning on F}' R R t' :~ F v 7 , ~9B l , the wm o ~~ 4~~•~~ Dollars, and the same amount on tAe same ~lay of each month [or ~" consecutive months until this note is paid. 71~e aforesaid payments are to be applied fint to interesl at the nte aCoresaid due upon the principal sum or so much thercof as shall Crom time to time remain unpaid, and the balance of each paymxnt shall be applied to ihe reduction of the principal. All payments of interest and principal are payable at the office of the payee in the city above set forth, or at such other place as the holder may designa(e in w•riling, in lawful money of the United States. If any of said payments of interest and principal shall not be paid uhen due then the entire principal sum and acc~ued intereit shall beoome due and payable at once, at the option of the holder of this note. This note is to be construed and enforced accordina to~the laws of Ihe State of Florida, and is securod by mortgage on real estate Dated .I AN t' .42~ , 19s~. If default be made in the payment of any of said sums or interest or in the performance of any agrcements contained here. or in performan~r of the terms of the mortpge socurina this note, then, at the optan of the hdder of' ihe same, the principal sum then remaining unpaid•w•ith accrued interest shall immed"utely become due, payable apd colkctibk without notice, time being of Ihe essence of this contract, and said principal wm and said acerued interest shaU bear interest at ma~eimum nte then allowed by law, from such time until paid. The holder is given,and agreed to have.the right of setoffa~sinst all deposits, accounts, credits and other property of each maker, gwrantor and endorser in posseuion or oontrol of ihe holder (or any and various wms duc hereunder, without requirement of notice. Any langwge in said note or mortgage to the contrary notwitMtaadin=. ao interest slull be charaed or colkcted in exceu of that allowed by Blorida laa. and in the event of the accekration of the mortpge. and the notes securcd thereby. any prepaid md unearned interest and points in excess of a lawful rate of interest to iht date of enforcement of payment shaU thercupon be refundod to the Mortgagor automatically by the crediting of same againtt the sum then due, but such credit shaU not cure or waive any default cecasioning acceleration. ' Fach maker, guarantor and endorser vw~ives presentment. protest, notice of protest and r~otice of dishonor and agras to all ~msts, induding a rpsomble attorney's fee a0d anY attorney's fees incurred on appeal, v`hether wit be brought or not, if counsel shall aiter maturity of this note ot default hereundu or under said mortgage, be employed to coUect this note or to protect the security thereof. DETAILS OF LOAN Qieck if appliable: 1_ O No notice of recission rrquired 3. Ci Notice of rtcission required 2. 0 No flood insurance required 4. O Flood insurance required NORTG ~GE PAYMENTS made in h~ consecutire payments of Sl~ ~-i ~- S 2 each, the first of said pay- ments due t' F B P. T_' :, R_Y :, 19~~5~~_ Payments may include tax and insurance escrow_ CONSTRUC"IION LOAN lif applicable): Interest accrued at :k per annum payable up to , 19 on amounts disbursed from the constructiun fund, on that date reEulu payments begin. INSURANCF,: Credit life and/or disability insurance not required, offered w provided [au. Property inwrance (fire and rasualty) u required. Flood insurance in ceruin designated uns is also required. ~lortgage life insurance is not required. Such inwrance u is roquired or desired may be obtained from or through any duly licensed person or company that Borrower may choose, subject to Lender i right to refux an insurer for good quse. Tfie B~nk can, if you wish, urange for mortgage life inwrance, but not for property inwrance, fire insurance or Oood inwnnce. LATE PAYMENi' AND DEFAULT: Bortow•ers are wbject to a late chuge not to exceed 29F of any instaliment unpaiJ for 10 days after the due date with a minimum charge as may be reasanably imposed by the bank from time to time: after default or maturity the principal wm remaining unpaid and accrued interest shall both bear mterest at the maximum rate then allowed by law. Bonowers shall pay all costs of cdlection. SECURITY AND SEI'OFF: Lwn is securod by a moripge of •? ~• ~~ a K;~ ~ , lq? 1 on the ral esqte described, therein together with aU appliances and items now or hereafter attached to or placed on the property and considered fixtures. The Bank is given the right of xtoff a~ainst ap deposits, credits and other property of Borrowen in the posseuion or control ot ihe Bank, for the indebtedness, though unmatured. The mortgage will secure future or otha indebtedneu and will corer after acquired property. PREPAYMEN?: Borrowers may at any lime prepay in tull or in part any unpaid balance withoutpe nalty. My partial prepayment shaU be applied against the wms which will last become due hereunder but shall not otherwise affect the d~e dates or amounu of payments. ASSUMPTION: If aswmptan of this loan is permitted by Bank. Banlc will charge a service fee for said assumption. Such auumption shall be grantod at the bank's sole discretion. I acknow•ledge the ru-eipt of a rompleted copy oF this note prior to signature, and that it is oortect. Maker'c Addreu: ~ ~~ 4(! :': 'n ~? I' 1 i ~' 'i A'': ~~ i'> E~, T'~ `i ', J Su~R ~^~ cjl~P~Ti: ~T, i. r~ ~ i ~ .. ~ - % '~ ~~ -, ~ F P~ ?: `;'r' P. I~ i: R. S C A xI 2i R O,i: r,i ~~A': RT~i, L"`~~i S~r,RBP(?','~:1' i /. (SEAL) ~(SEAL) (SEAL) (SEAL) B~34s ~~~t 3o-r S SPECIMEN F BS : 64 R~r. 4/76