HomeMy WebLinkAbout2419WRAPAROUND BALLOON MORTGAGE NOTE
$150,000.00
Fort Pierce,Florida
ilarch 3I,1981
FOR VALUE RECEIVED the undersigned promises to pay to the
order of JACOBSON-REA,INC., a Florida Corporation the principal
sum of One Hundred Fifty Thousand Dollars together with interest~
thereon at the rate of twelve (12$)percent per annum fron March
31,1981 until maturity,both principal and interest being payable in
lawful money of the United States,such principal an3 interest
payable in installments as follaws:
119 equal monthly instatlments of $1,800.25 with the
first payment to commence on :~ay 1,1981 anc} a like sum
on the correspnding day of each like succeding period
thereafter until April 1,1991 on which date the entire
remaining principal balance shall beco^~e due and payable
in one BALLOON payment.The maker hereof reserves the
right of prepayment in whole or in part at any time
without penalty. The terms of this Note are fully subj~ct
to the Rider to the Mortgage securing this Note making
this a Wraparound Balloon Mortgage Note.Any prepay:nent
shall first be applied to the First,Second,Third and
Fcurth mortgages and Notes respectively and after they
are satisfied the remaining balance shall be paid to
the holder of said Note. .A late payment charge of five
(5$)per~.ent of the delinquent payment shall be added to
each instal L-nent remaining unpaid ten days after its
due date and a like sum shall be added to each such
installment unpaid ten days after each succeeding payr.ient
date.
Such installment•payments shall be applied first to the interest
accruing under the terms of this note and then to a reduction of
the principal indebtedhess.The makers and endorsers of this Note
further agree t~ waive demand,notice of non-apyment arici protest,
and in the event suit shall be brought for the collection hereof,
or the same has to be collected upon demand of any attorney,to aay
reasonable at~orney's fees for making such collection.Al1 payments
hereunder s~all bear interest at the rate of twelve percent per
annum from maturity ~~ntil paid.This note is secured by a mortgage
of even date herewith and is to be construed and enforced according
to the laws of the State of•Florida;upon default in the payment of
principal and/or interest when due,and such default continues for
a period of ten days,the whole sum o~ principal and interest remaining
unpaid shall,at the o~tion of the holders,become immediately due and
payable.Failure to exercise this ~ption shall not constitute a
w•aiver of the right to exercise the same in the event of subsequent
default.
Payable at: -~L~K ~ '~-
Post Office Box 3430 Alf ed Brahmer
Fort Pierce,Fla.33~54 ,~,q~~ ~_,~ ~~~~~~,v,,~, ~j
C~eanette Madeline Brahmer
";cua:_:.tary S,2^~s in the au~auat ~ Ci,~•vYr G~ v~ ~~YI (~~- ,(t s-o
ei S~~a~z 6een ~fiixcd b
tbe mxtgage whic6 is securitr iK U'~- ~~ a~''''``~ ~-~~ r E-
~h;5 f~t~. ~-:,~K351 ~~~~~~~i5