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HomeMy WebLinkAbout2845- MORTGAGENOTE AMOUNT IOCATION s 21,750.00 Ft. Pierce, Florida OAT E ebruary ~.3, 1981 FOR VALUE RECEIVED~ tha undersigned, (1~~~~ fly and seve~ally, il mo-e than ane) prom~c~s to pay to John T. McAfee and Isolde B. McAfee, his wife; John H. Person and Christine L. Person, his wife or order, in the manner hereinufter specified, the princ~pal sum of Twenty Seven Thousand Seven liundred Fif ty and 0(l ~g27,750.00 ~ With ~nterest from date at the rate oi 10.0 per cent, pP~ an~~um on ;hP h:,lance frcxn time to time remaining unpaid. The said principa~ and i~iterest shall be payable in lawtul mor~ey ot the Unitr.d States ot Ame~ica at or at such place as may hereatter be designz!ed by w~ iuen ~otice from the hulde~ t~~ th~ maker hereof, on the date and in the manner tollowing: This Note is payable Monthly in eyual installments as follows: Beginning on At<1rc1~ 16, 1981 the sum of $300.00, and a like sum payable on the same day in each month, in each year thereafter, until February 16, 1989, at which ti~ne the entire remaining principal sum, together with accrued interest remaining unpaid, shall be due and payable; said final payment shall be in the amount of $18,000.09. All payments are to be applied first to interest at the rate specified herein upon the principal sum of $27,750.00, or so much thereof, as may from time to time remain unpaid and the balance of each payment shall be applied to principal. This Note is prepayable in whole or in part at any time without penalty. This note with interest is secure~f hy a mortgage on real estate, of ev~n date herewith, made by the maker hereof in favor of the said payee, and shall be construed and enforced acco~ding to t{~e laws of the State of Flurida The te~ms of said mortgage ; are by this reference made a part-liereof. If default be made in the payment of any of the sums o- interes? menhoned here~n or in said mortgage, or in the performanc~ of any of the agreements contained herein or in said mortgage, then ihe entir~ ~~r ~„c;~,;,~ sum and accruecl interest shall at the option of the holder hereof betome at once due and collectible witt~out notice, time t~eing of tiie ess~~nce: a~~d said principal sum and accrued interest shall both bear inte~est lrom such time until peid at the highest rate altowat~le unc~e~ *.I~e lav:, of the State of Florida Failurc to exercise this option shall not constitute a waiver of the right to exercise th~ :.,r,.~~ ~~~ the event of any subsequent default_ Each perwn liable hereon ~vhether maker or endorser, hereby waives aresentment, protest, notice, notice of protest and notice of dishonor and agrees to pay all costs, including a r~asonable attorney's fee, w~l~zther suit be brought or not, if, atter maturity of this ~ote or default hereunder, or under said mortgage, counsel shall be employed to r.ollect this note or to protect the security of said mortgage. Wherever used here in the terms 'holder', 'maker' and 'payee' shafl I~e construed in singular or plural as the conte ay reyuire or admit. MAKER'S ADORtSS \ _ . ~ ~ ----- ------- -- --- - - s't~~ ~- - ~ f :. ~' --~~d mes P R ~~ --- ~ ~ ~~ : - -- - - - _ .~ -~ ?'1~s ~ ~= ~4~._'L,' !~~~_; ~~J_~~ Pamcla StapletOn Raab ~ AND the mortgagor hereby further cuvenant:~ s~nd agrees tu pa~~ promptly when due the prin- ~ cipal and interest and other sums of money provided for in said note and this mortgage, or either; to ~ay all and singular the taxes, assessments, levies, liabilities, obligations and encumbrances of every nature un said property ; to permit, commit or suffer no k aste, impairment or deterioration of suid land or the im!-ruvements thereon at an~• time ; to keep the buildings now or hereafter on ~aid land fully insured in a sum of not less than its full insurable ralue, but in no event less than the amuunt serured b~ this mortgage, in a compan~• or compxnies acceptuble to the mortgagee. the pol- ic~~ or policies to Le held by, and pay able to. saici mortgagee. and in the event an~• sum of mone~• becomes pay~aUle U~• virtue of st~ch insurance the m~,rtgagee shall have the right to receive and ap- ply the same to the indeUtedness herebS• secured. aiccounting to the mortgagur for anr sw•plus; to pay all costs, charges, and expenses, including la~~•~•er's fees and title ~searches, reas~nabl~• incurred or paid by the mortgagee because of the failure uf the mnrtgagor to promptl~• and full~• compl~• «ith the agreements, stipulations, conditions and cu~ enants of ~aid note and this mortgage, or either; in the e~•ent the mortgagor fail, to pa~; ~~•h~m du~~ an~• tax, a~.ties.ment, in.urance premium or other sum of money pat•able b~~ virtue of said note ar~d this mortgage, or either. the mortgagee ma~• pa~• the same, without w-aiving or affecting the o~~tion to foreclose or an~• other right hereunder, and all such pa~•men~g ghall bear interest from date thereof at the highest la~~•ful rate then allo«e~ b~• the laws of the~ State of Florida. . IF any sum of mone~ herein referred to be not pr~~mptl~• paid «ithin thirty days next after the same becomes due, or if each and everc the agreement~~, stipulati~ns, conditions and co~~enant~~ of said note and this mortgage, or either, are not full~• ~~erfurmed. complied ~~~ith and abided by, then the entire sum mentioned in gaid note, and t hiti mortgage. or the entire balance unpaid there- on, shall forthH~ith or thereafter. at the option of t h~ mortgagee, ~become and be Hue and pat•able. anything in said note or herein to the contrar~• n~-h~•ithstanding. F'ailure b~~ the mortgagee to exer- cise an~• of the right4 or options herein provided ~h.~ll not constitute a~~aiver of an~~ righ~4 or op- tions under said note or this mortgage accrued or ther~~after aceruing. ~~p ,; . - ` BOr~K•,~O PaCE2843 } ~~a ~ .~ ~ ~ ~ j.a,+s x ~ 1 ~"1?~'~ .~we'~, r...'r. .., .r:-- -i ... ~ ~- . , ..:. ~+Y_.'.