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YROVIDED ALWAYS: that if the said MORTGAGOR herein shall pay unto '
the said MORTCAGEE hcrein, the cerLain promissory
note hereinafter s~ibstantially copied or
identified, to-witi:
S~,~~4-~
Fort Pieroe, Florida
January 27 19 81.
For value roceived, I, we, or either of us, promise to pay without defalcation to the order of
riarris Construction CorForation, as Trustee , at the offioe of tha payee
herein in Fort Pierce, Flor+da or at such other piaoe as the payee hertin shall designate in writing, the
sum of ;~500 . 00 with interest from date at the rate of 1~ • 0 96 per annum, payable
in monthly installments as fo{lows, to-wit:
~ 139 • 67 ~ 1~ lOth day of t~SBY'CY, ~q 81 and a like sum
on the corresponding dsy of each like succeedirsg month _ tfiereafter untilpSld in full .
:Iothwithstanding the below stated late penalty as a percentage of arrear~,
t2~e herein applicable late penelty is understood to be .a flat ~15.00 for
each ancl every month the within promissory note is 1:~ arreara.
In the event any amounK currently due and/or past due under the terms of this note are not paid
by the 2 5~ hday of the month, a late pe~alry of 5.0% of the combined amounts current{y due and/or
past due, wiil be added to and oollected with whatever 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 end of any month, then said unpaid amount will be carried forward and added to the amounts
coming due under the te~ms of this note for subsequent months for the purpase of calculating subsequent
late penalties. Amo~nts due under the terms of this note are understood to be but ~ot limited to.
(1) Regularly amortized interest and prirtcipal payme~ts.
(2) City and/or munty taxes when paid by the payee herein.
(3) Insurance premiums when paid by the payee herein.
(4) Senior mortgage paymenis when paid by ihe payee herein. ~
(~ Street, sewer and water liens when paid by the payee herein.
Each instailment first shall be applied in the payment of the interest and then on the unpaid baf-
ance of the principal sum. If default is made in the payment of any installment when due, then at the
option of the holder, and w~thout any other notice, all the ~emaining installments shall bs due and payable at
once. Privilege is given to pay two or more installments at any installment maturity.date, but this shall
not extend the time of maturity of any subsequent installment.. Neithe~ forbearance, nor acceptance by
the hotder hereof aNer any defauit in any payment hereon, shall be deemed extension.
Each maker, surety and endorsar 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 afte: maturity, wittaut notice to any of us; and to pay all costs of collection, including a
reasonabte attorney's fee in the event of any defau{t hereunder. ~
WITNESS THE HANDS AND SEAL OF EACH PARTY. ~s/ William Cardner Jr. ~~~
Willia~r; Gardner Jr.
(~-~)
(SEAt)
(~°-~)
~~~:';K:347 ~~~f ~2~9
N~ 794
. ~