HomeMy WebLinkAbout0543NOTE ~
us s 20,000.0o st„~. ~o~ra~
February ~ q .19 81
FOR VALUE RECENED. the undersigned ("Borrower") promise(s) to pay FIRST NATIONAL BANK
AND TRUST COMPANY OF STUART at its o(Nce in this city. or order, the principal sum ot""""~
TWENT'Y THOIISAND AND NO/100--- -------------- Dollars, with interest
on the unpaid pdncipal balance from the date of thls Note. until paid. at the rate of 1~ •OOx percent
per annum. Principal and interest shall be payable at 815 Cotorado, Stuart. FI or such othet place as the
Note holder may designate. in consecutive monthly installments ot
--_----1~ro gundred Portv-Bi~ht and 70/lOQ Dollars (US s~~ ).
on thP }~ day ot each month beginning March ~~`j . 1981 . Such monthly install-
ments shall contlnue untit the entire indebtednesa evidenced by this Note is fully paid. except that any
remaining indebtedness. iE not sooner paid. shall be due and payable on February ~°j 1986
If any monthly installment under this Note ie not paid when due and remains unpaid aher a date
speciHed by a notlce to Bonower. the entire principal amount outstanding and accrued interest thereon
shall at once become due and payable at the opHon of the Note holder. The date speciHed s6all,not be less
than thirty days trom the date such notice Is mailed. The Note holder may enercise this optlon to
accelerate during any default by Borrower regardless of any prlor forbearance. If suit is brought to collect
this Note, the Note holder shall be entided to collect all reasonable costs and expenses of suit, including.
but not limited to, reasonable attorney's fees.
Borrower shall pay to the Note holder a late charge of 55.00 or N~~ percent of any monthly
installment not received by the Note holder withln 10 days aker the installment Is due.
Bonower may prepay the principal amount outstanding in whole or in pari. The Note holder may
require that any partlal prepayments (i) be made on the date monthly installmeab ue due and (li) be in
d~ amount of that part ot one or more monthly installment~ which would be appllcable to pdncipal. Any
partial prepayment shall be applied against the principal amount outstanding and shall aot postpone the
dne date of any subsequent monthly installmenb or change the amount of euch installments. unless the
Note holder shaU otherwise agree in wcitlng.
Presentment, notice of dishonor, and protest are hereby waived by all makers, sureties. guarantors
and endorsers hereof. Thls Note shall be the joint and several obligaNon oi aU maken. suretles.
guarantors and endorsers, and shall be binding upon them and thetr succeason and assigns.
Any notice to Borrower provided for in this Note shall be given tiy mailing sucb notlce by cerHHed
mail addressed to Borrower at the Property Address ststed below, or to such otl~et address as Borrower
msy designate by notice to the Note 6older. Any notice to the Note holder shall be glven by malling 8uch
noHce by certiNed mail. return receipt requeeted. to the Note holder at the address stated in the flrst
paragraph of thia Note. or at such other address as may have been deslgnated by notice to Borrower.
The lndebtedness evidenced by thls Note is secured by a Mortgage, dated Fe~~a~ I G 1981 ~
and reference is made to the Mortgage for rights as to acceleration of the indebtedness evidenced by this
Note,~$ IS A BALLOON I~iORTGAGB AIiD THE ~INAL PAYi+lLN? OR TE~ EALI.OON DUE OPO1Q MAIVBITY
I3 IS 680.00. ?OGEZBLR 1JI?H ACCROBD IIaTEitEST, IF ANl, AND ALL ADVAIQC@tENTS MADL BY
THE I~DRTGAGEE ONDER T~ TERMS 0! 18IS MORTGAGE.
/s/ ~William H. Patterson, Sr. (Seal)
KILLIAN H, YAT!'ERSON, SR.
/s/-Berniece E. Patterson (Sealj
B~;~K349 fa~;E 544 B~E~ E. PAZT~tSOH
~sean
Property Address