The URL can be used to link to this page

Home My WebLink About2554MYNfYA{r` NYY~ ~ 36,500.00 Mo1t vl-l.v~ xEC.ti~yt:o. tl-o wKks,qc~-eJ. c,r+our ++w ~cv~rauY. ~ awto HERBERT E. SPAYINS'and ANN M, SPAYINS, his wife Ft. Pi erce , - +~~.ua March _~_ . ~ ~81 ~Mn w-c) yrvm~~e~ ~o par ~o . w wJct. ~W ~be ~a+unrt bea~o+(ie~ ~;~e.J~~~~, u+o vr+nciwl w~ ~THIRTY-SIX THOUSAND FIVE HUNDREO AND -------------------------NO /~oo uuL~.nt~a ti36~ JVO. W ~~~ ~~ ~~A i~ik u 1~1! 1~10 {Il 12. ~j j/tf ~tAl. ~Itf iw11Y1q YA ~I1t ~NIiACO ~tYiq tMlt tY I~/~lt ttft1a1f1/I1~ Yf1~~a~J. ~a~e .~+d pr;+~ccy~t .,~t inarsu .~u b. wr~w. i,~ awl~ ~y vt we u~~ ~+a«. ~t w,~~~. u such address dS the payee may desi gnate o- at wtM y-I+ce +~ ~w.y hen•~fK~ be al.tiu:a+~cvl ~ vn~ut~n aw~c I~w~~ 1he l~uWsr W ~he ma:e~ I~c~r..t, u~~ tM dile a11f1 IA 1hi AMw1N~ ~101MinCi ~k• • . ~ ~ raco anaunt af this note and mortgago payable with interest thereon, from this date, at thc rate of 1~relve and one-half par cent (12~~) per annura in 348 c-onthly installments of $390.83. Ttie first instalLaent shall ba due one month fran tho date hereon. ~- 'I~ 1~1AKEIt OF 1NIS N0~ ~'1~~ RIi~-ti` 'PO PREI'AY, In PART OR N'HUI.E, AT ANYfII~, i~'I'itiOtPi' P~-NAL'IY. ~ . The payments and interest icate set forth abovo shall be in effect for TEN years fran the date hereof, at which time the then outstandinR principal balance and any accicued interest shall becawe due and payable unless autamatically extended by the borrower electinR to extend the tern of thi.s Note as set forth herein. Borr~owcr shall have the option to extend the tern of this note bey~ond the initial loan tena for as many separate ten year tera~s as required to amortize the loan over the maximum tona of indebtedness as herc3inabove stated wi the understanding that the Final loan tena may be less than Ten years. Interest rate cha,nges may occur ten years fran the date hereof and on each succeedin~C Tenth year. The interest Y`ate and nanthly payment for each loan tera shall be calculated as hereinafter stat To adjust the interest rate of this rwte, the lendar shall use the average (to the nearest ~ne-quarter ger c.~nt) of the Roing interest rates set forth by the lc~al len~ang ir~stitu~~ons, Interest rate adjustments shall take effect on the first day of ea~ch loan tenn and continue until the end of said loan term. Any increase or decrease in the interest rate shall cause an increase or decrease in the dollar amount of each monthly oayment, and the amount of the monthly payment shall in~crease or decrease so that the loan shall be repayable in equal monthly installments of principal and intc3rest during each loan tenu in an amount at least sufficient to anartize a loan with the same principal and the sarae interest rate aver the r~nianing term of the mortgage. Each new rate of interest will becamc~ effective on the next change date. If the monthly payments change as a result of a change in the interest rate, the monthly payment will change as of the first monthly payment date after the Change datc. Le~nder, at ren~ewal, may not increase or decrease the interest by an au~aunt greater than One- half of one percentags point (O.SO~) per year nuultiplied by the r~unber of years in the Loan tenn and the total increase or decrease ir~ interest rate over the entire tera of the loan may not be uare than five (S) percentage points upward or downward fram the "Ori~tinal Interest Rate" at the inception of this obligation. Interest rate decreases and increases fram th~e Previous Lo.3n teria are mandatory, except, hawever, the note h~older may, at his option, in writing, waive all or any part o£ any in Written notice shall bo sent by the holder of this note to the Borrower at least Ninety (90) days prior to th~e last day of each loan ternn, setting forth the due date of the loan, the irt 'c-a~it'fa~c'"Clse-~ext^terin; determi~d~above-set----. forth. If the Borrow~er does not respond to the rwtics, the loan will be autanatically renewed at the new rate for the next loan terni, subject to all the provisions hereof and of the mortgage securing this note. Any notice to the borro~wer provided for in this Ivote shall be given by mailing such notice by Certified Mail addressed to Borrower at the Property address stated below or to such other address as Borrawer may designate by Notice to Iwte Holder. 'I'hit note witb.incercit ii itcured by s mort~aKc on «al euaie. ot ~ren dau berrwuh. nudc br tht nulct~ hcrcu( in favpr o( ~lie i+~J vzyee. and +haU be couatrual and enforced xcordiat w the laMn ot tbe ~ute o( Ylonds. 'I'be tcrau ~t aaid nwrtragc .wc by this rclrrcncr mada a part besoot. I( delault be mule ia the paymant o! any o( ~he aurtu or iaterett nkntioncd br~rin w in ~aid mot~a~;t~ or in the {xtturm~r-re uf ~Y o[ the a~rcaneat~ c+oataiaed hcteia ot in taid mwy~aRt. tben ~he entire yric~ci~u1 win aaJ aun+rd in~e~eu shalt at ~be t-~~twn of ~i~r holdet 1-ereo( bttome st onos duo sud tolbetiblr ariulwtu aolite, tiroe btioK o( ~}~a t~~eote: sad ~aid priatipal ~um an.l art~wti! inter~.! clull both bear ia~ereu tran aucb tia~e ~ntil yai~l at tAe biKbtst tate aibwabk YMICr {}IL' JiMa O~ l~!! ~Wlr ill rl~ti{Ii. Fi1~YfC ~0 CiCICIK ihi+ op~ioa sAsA swc consuweo a rsiv~or ot ~be rwA~ a e,ce:ci~e tbs Woe in ~bs cvc,u ~l awr wl~cq~ca~ drt.~l~. Eacl~ peswn lisbk he~n wbetber makes or emlor~e~, herebp waivea praeouneat. ptoteu, notiee notice ol ~wtc~t anJ notice of J~s- honor aud s~reu w psY a~i cau. iacludin~ ~ rrswnal,k s~wrns~I~ ke. w1-~iMt wit 4e brwKAt w iwt. i~. stcer a-atu~~~r o( ~hi~ ewc o~ dc(+ul~ lureuades. or w-des wd a~oryate. oa+a~el ~bal1 be emplo~ysd a eoltcct tlw aote or w pw-ca tbe sccwitr ol sa~J awrt~ale. Wheacver wu! bereia tbo tera~ "boWe~'. "w+ker' ~d "Wpca requite ot sdmi~ ~[alce~a Addrw "~b~U bc conatt~ed i++ ~he iin~~lu o~ plwal as thc conicx~ ~~~.y ~ .» . .....~:......~tA.~~(~k .. .................(SEAL~ Lawrence' A. Wal ker ~ .........r.~ .................»._.................................................................. ~ s ~n ~., ~...~.`...''~.~.n.»7~»....if.~ ~~" »»»..»...»...».... . ( SEA L 1 ~iana L. Malker ......» .......................».....».......................................................... . ~ s ~n ~, a~~x 3`~ F~~~ 255?