HomeMy WebLinkAbout1854PENINSULAR MORTGAGE COMPANY
OF FORT PIERCE
3~01 U. S. ~1
Fort Pierce, Florida 33452
s 57,499.98 : FORT PIERCE, FLORIQA
February 10, , 19 gl
FOR VALUE RECEI`~ED, the undersigned, (jointly and severally, if more than
one), promises to pa~y to PENINSULAR MORTGAGE COMPANY OF FORT PIERCE, or order,
in the manner hereinafter specified, the principal sum of FIFTY-THOUSAND AND
NO/100----------------DOLIARS----------{s 50,000.00 w t nterest
~'rom date at the rate of ~b per cent ~.~ x), per annum
on the balance from tlme to time.remaining unpaid.
The said principal and interest shall be payable in lawful money of the
United States of.America at 3801 U.S. #~1, Fort Pierce, Florida 33452, or at
such place as may hereafter be designated by written notice from the holder to
the maker hereof, on the date and in the manner following: FIVE
installments of EIGHT HUNDRFD THIRTY-THRE ars
---- ~833.33 ), beg~nning a month from the date hereof and one last
p~yment Of FI FTY THOl1SANd E i(;HT HIINDR D THI RTY TNR R~4~ 1~ 50 ~83~ _ 34 )•
Pa~yments are due on the day of each month following the
date of closing and are pa~yable on or before the lOth da~y following the due date.
Debtors may anytime prepay the balance of the principal amount together
with any other amounts then due, but they shall pay an additional amount equal
to 3 moRths of interest computed at the rate of interest herein,established on
the baiance of the principal amount then due.
The debtors can not be substituted in their place by third parties except
upon the written approval by PENINSULAR MORT('~IGE C4MPANY OF FORT PIERCE, or its
assigns and successors. -
This note with interest is secured by a mortgage on real property of even
date herewith, made by the maker hereof in favor of the said payee, and shall
be construed and enforced according to the laws of the State of Florida. The
terms of said mortgage are by this reference, made a part hereof.
If default be made in the payment of any of the sums or interest mentioned
herein or in said mortgage, or in the perforniance of any of the agreements
contained herein or in said mortgage then the entire principal sum and accrued
interest shall at the option of the holder hereof become at once due and
collectible without notice, time being of the essence; and said principal sum
and accrued interest shall both bear interest from such time until paid at the
highest rate allowable under the laws of the State of Florida. Failure ta
exerc~se this option shall not constitute a waiver of the right to exercise the
same in the event of any subsequent default.
No sale of the premises hereby mortgaged nor forbearance on the part of
the mortgagees or its assigns, and no extension of the time for payment of
the debt hereby secured, given by the mortgagee or its assigns shall operate
to release, discharge, modify, change or affect the original liability of the
mortgagor herein either in whole or in part, nor shall the full force and effect
of this instrument be altered thereby.
Any person, firm or corporation taking a junior mortgage, or other lien,
upon said real estate, shall take the said lien subject to the rights of the
mortgagee herein to extend the maturity~of the indebtedness hereby secured
without obtaining the consent to the holder of said junior lien and without
the lien of this mortgage losing its priority over any such junior lien.
In the event the property pledged by this instrument is sold under fore-
closure and the proceeds are insufficient to pay the total indebtedness evidenced
and secured by this instrument the mortgagee will be entitled to a deficiency
judgment. ~
Each person liable hereon whether maker or endorser, hereby waives
presentment, protest, notice, notice of protest and notice of dishonor and
agrees to pay all costs, including a reasonable attorney's fee, whether suit
be brought or not, if, after maturity of this note or default hereunder, or
under said mortgage, counsel shall be employed to collect this note or to
BJ~KJ~~ PAUf~~3
6
i
~ - -
~ .,~..~. .. _ - . . -- . .. ..: ' -
~