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i` ~1/1tl U•1~~ I~P'P/II~ ~~IP ~IIRtP against the ~AU'~U~ f~AlI11S U~ A~' nPISO-IS U~/lOII130P1'P~: 0/1(~ ~~Q~ SQI(~ ~011/' IS 'IPP
'} ~-~d .G~~~~ „I '~ll v.~~~~~,6.~.,~-PS except that certain first mort~;age of' recoi~d
~ due ta :.~outheast tdortgage Company or assigns; which said mortga~e
~ is ~uarantied by the ~URTGAGORS here~n not to-have an unpaid
! grincigal b3lance in excess of a5,500.00 as of this date.
i YP.OVIDED ALWAY~: th~t if said f~lORTGAGORS her•eir. shall pay to
said MORTGAGE~ her•ein the certain promissary
note hereinafter substantially copied or
i~ ider.*ified, to-wit:
i~
S 12,500.G0
N~~ 78g
Fo-t Pieroe, Florida ~~ V$ry lfi , ~ 9 81.
For value ~ved, 1, we, or eiM~er of us, omise to pay without defalcation to the order of
~iarris Cor,struction Corporation,as ~r~stee, , at the office of the payee
herein in Fo~t P'gr~e, ,Florida or at wch other plaae as fhe pnyee herei~ ~h~ll designate in writing, the
wm of ~ 1~ ~ V~•~~ with interest from date at the rate of Z~ • V % per annum, payable
in monthly installments as follows, to-v+rit: `
~ 225.2~1 '~~, i0th day of Feb~`u82y ~q~1 and a like sum
on the corresporxiing day of esch like sueceeding month the~eafter until peid 3n full.
::otr-•it2~standin~ the Lelo~+ stated late penalty as a percentage of arrears,
the late penalty app2lcahle to the herein promissory note is understooci
~o be a flat $25.00 for each nnd every uonththe herein note is in arrear~.
In the event any amounts cunently due and/or past due under the terms of this note are not paid
by ths 2~jtn day of ihe month, a late perialty of 5.0% of the combined amounts currently due and/or
past due, will be added to and collected with whatever amounts are due for the month in question. If
arrently due andlor past due payments or paris thereof under the terms of this note remain unpaid
at the er~d of any rr:onth, ihe~ said unpaid amount will be carried forward and added to the amounts
ooming due under the terms of this note for wbsequent months for the purpose of calculating subsequent
late penalties. Amounts due under the terms of this note are understood to be but not limited to.
(1) Regularly amortized interest and principal payments.
(2) City and%r oounty taxes when paid by tfie payee herein.
(3) Insuranoe premiums when paid by the payee herein.
(4) Senior mortgage paymeMs when paid by the payee herein.
(~ Sheet, sewer and water liens when paid by the payee herein.
Each insfallment first shall be applied in the payment of the interest and then on the unpaid bai-
ance of the principal sum. If default is made in the paymeM of any installment when due, then at the
option of the holder, and without any other notice, ali the remaining installments shall be due and payabfe at
once. Privilege is given to pay two or more insfallments at any installment matvrity date, but this shalt
not extend the time of maturity of any subsequent installment. Neither forbearance, nor 'acceptance by
the holder hereof after any default in any psyment hereon, shall be deemed extension.
Eacfi maker, surety and endorser hereof, jointly and severally, waives demand, presentment,
protest and notice of protest for nonpayment, and further agrees to a~y extension of time of payment,
either before or after maturity, without notice to any of us; and to pay atl costs of collection, including a
reasonable attorney's fee i~ the event of any default hereunder.
WITNESS THE HANDS AN~ SEAL OF EACH PARTY.
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.~ ~:~~ . ~: : ~~ ._ .
/s/ Jeffrey P. Pfeiffer ~~~
Jeffrey P. Pfeiffer
(~°-~)
/s/ Lucinda G. Pfeiffer ~~~~
~uc . ,e e
(sEn~)
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