HomeMy WebLinkAbout1268MORTCACE NOTE
' : t ":Cil'AL rL~iC-t;N'P: $11, 9U0. OU
~':~"I'URITY DATE: ~l.zrch 23, 2996
i:;'I'ERF.ST R~1TE: 16;o per annum
.'.''uRTIZATION PERT.OD: Fi f teen (15) years
' `:tiTALLr1ENT PAl'".~:~T: $174, 78
- 1 f:ST INSTALI.MF.NT P!IYMF.NT DATE: April 23, 1981
~!:1"1'E OF NOTE: March 23 ~ 1981
:~~F: VALUE RECEIVEU, the undersigned and if more than o~e, jointly and severall}• (the ~taker),
:.~~~ti hereby covenant and promise to pay to the arder of RALPH A. JENNINGS and JEANETTE E.
'~:`:VINGS, his wife, or to their successors or assibns (collectively the Payee) at 1612 Wyoming
.',:~~•nue, Fort Pierce, Florida 33450, or such other place as the Payee may designate to the
".~'-:~~r in ~,ariting from time to time, in legal tender of the United States, the Principal
:::,,unt together with i~iterest at the Interest Rate on the unpaid balance of the Principal
\:-;~~ titi t .
..~• sums due and owinF ~~ereunder shall be payable during [he A~rortization Period in equal
~~.~:ethly installments, ~ach in the amount of the Installment Payment, the first such Install-
,~;it Payment to be made on the First Installment Payment Date and subsequent Installment
:~:ment on like day of each month thereaEter until the Alaturity Date whereupon the entire
.:?,~aid balance of principal and interest accrued and unpaid thereon shall become due and
;~~:ahle; each sucti installment wlien paid shall be applied first to the payment of interest
~~:~ tt~e unpaid balance at the Interest Rate and the remainder thereof to payment on account
,> ~ principal.
?! any Installment Payment shall not be paid when due, ttien the en
~~,•rued interest t~ereunder shall become due and payable at once or
~ the holder of this Note. The Payee may, at its option, collect
:-:ceed sir. cents for each one dollar of each Installment Payment.
~,cions shall not constitute a waiver of the right to exercise the
,u,,sequent default. . _
tire principal sum and
thereafter, at the option
a late charge not to
Failure to exercise~these
same in the event of any
!t is further agreed that the ~taker and each endorser, surety, guarantur, jointl_y and
-•~~~.~~rally, shall pay all costs of collection of this Note, including a reasonable attorney's
'~~~, and including any appellate proceedings, on Yailure to pay any Installment Pati~ment or
~~:.: accrued interest due hereunder on the due date thereof. This Note and all sums due
;<<~reunder shall bear interest at the highest lawful rate of interest per annum in the State
' I~lorida from thc: date when the principal and accrued interest under this \ote sha12 be
:~_:~~ and payable. The tc~tal interest payable hereunder shall not in any one year exceed the
i:;~hest lawful rate of ir.terest in the State of Florida.
i:~is ~3ote is secured by a Mortgage, dated the date hereof, of property situated in the State
.~ i Florida.
;1~~~ "taker agrees th:~t it shall be boun•1 by any agreement extending the time or modifying the
~~~ove terms of pa}~nent, tr.ade by the Payee and the ownc~r or owners of Lhe propertv affected
~~: said ,tortgage, khether ~aith or without notice to the '~taker, and the ~faker shall continue
iEzble to pay the amount due l~ereunde.r, but with interest at a rate no greater than the
I~:terest Rate, according t~ ~i~e terms of any such agreement of extension or modification.
:`~t~ unpaid balance of. the Principal Amount, plus accrued interest sha11 become due and
:~.i-~~able at the option or the PFIVPE' URCIE'C the happening of an E~vent by which said Ualance
=.iia11 or may become due and payable under the terms of said ~tortgage.
:~iis ~vote m<~y not be changed orally, but only by agreement in writing, ~igned by the pHrty
,~~;ainst whom enforcement of any waiver, change, modification or discharge is sought. '
:111 parties to this ~iote, whether Maker, principal, surety, guarantor or endorser, hereby
~..,~ive presentment for payment, demand, protest, notice of ~rotest. ac~d notice of dishonor,
~nd expressly a~ree jointly and s~verally to remain and co~tinue bound for the pavment of
~i~e principal and interest provided for by the terms of this \ote, notc.~ith~tandi~~ any
~~rtension or 2xt~nsions of the time of, or for the pay~nent of s<~id principal or interest, or
.~n.• change or chan~es in tile amount or amounts agreed to be paid under or by way of release
~~r surrender or substitution of any real property and collateral or either held as security
:`~~r this No[e, and waive all and every kind of notice of such extension or exter.sions,
<hange or changes, and agree that the same may be made without the joinder of the Maker.
'?aker shall have the right of
~repaymen[ in whole or in part at
,any time prior to maturity without
payment of penalty therefor.
~/ / ( '" i[<. J `/, ~ -~l~.t/ (LS)
E L .EN E. BOLIN
~~`~ 351 p~ ~'~5