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Home My WebLink About1675 ICONSTRUCTION AND rF.RMAHENTI ~ - , . ~ ~ - ~ . - ' ~ . . ~ ~ ~ NIORTGAGE NOTE ' i - ; . ~ Amount of the Note: ~2(j~ Q~~. 00 Date of Note: ~TL~e jQ ~ j,475 = _ - ~ Maturity Date: T9A Ye~7Ca with Ba?lloon Paymsnt : . ~ r • _ 3 Intereet Rate: $ 3/, ~ r a Interent Period: From the date hereof thmugh Q~tOber 1985 ~ Amottization Period: From the day atter the Interest Period to the Maturity Date. ~ Instalment Payment: ~ $199.89 with H~llaon Paymant~of ~9,680.00 ~n ~ - . Ooto~a~c 19 8 5 ~ _ ~ - ; Fitst Instalment Pnf:nent Date: ~ CtO~I ~ ZO i 2975 - : _ ~ . - . ~ - - , ~ FOR VALUE RECEIVED, the undersigned and if more than one, jointly and severallq (the D€aker), dces hereby ~ covenant wid pmmise to p~y to tho order of. Sun BAnk oi St. Lucie County or to its successors or saeigns (collectively the _ Pa~ee), at ita principal office at 111.Orange Avenue, Fort Pierce, Fls. or at suck o~.her place as the Payee may deaignate to the Maker in writing irom tIme to time, in leg~l tender oi the United States~ the' Amount of the Note or so much _ . thereof aa msy be advanced (the Principal Amount) by the Payee purauant to a construction loan agreement or loan • . commitinent, between the Maker and the Payee, together with lnterest at the Intese8~ Rate on the unpaid balance of the ~ PrincIpai Amoun~ : . _ - During the Intereat Period~ intereat from the date of esch advance. at the Interest Rate. shall be payable montbty on the fitat day ot the month following the -month in which the ficst advance is made and on the firat day ~f each month _ tbereaEter; during tbe Amostization Period equai monthly inatalmenta, each in the amount of the Instalment Payment, ' the first such Inatalment Payment to be made on the Firet Instalment Payment Date and subsequent Instalment Pay- ~ . menta on the first day of each montb therea[ter until the Maturity~I?ate whereupon the entire unpaid balance of principal ~ and intereat accrued and unpaid thereon ahall become due and payable; .each euch instalment whPn paid shall be applied - f . first to the payment of interest on the unpaid balance at the Intereat Rate and the retnainder thereo[ to payment on ~ account of principal._ - . ~ - ' ~ ~ ~ . . . ; _ _ . ~ - _ If interest or any In~talment Payment ahall not be paid when due. then the entire principal sum and accrued interest ~ hereunder ahall become due and payable at once or ther~af ter, at the option of the I~older of thia Note. The ~ Payee may~ at its option, cvllect a late charge not to exc~ed two centa for each one dollar of earh Instalrnent Payment not paid ~ when due to reimburx the Payee for e:pensee of eervicing delinquent Inatalment Payments. ' Failure to ezercise these ~ - options ahall not constitute a waiver oi the right to ezercise the same in iire event~of any subsequent default. ~ It is further agrceci that the Maker and each endorser. nurety, guatantor. jointly and. scverally~ shall pay. all costs of , ctiilection of this Note, including a=easonable attarney'e fee, on failt~re to pay any Instalm~nt Payment or any accrued in;erest due hereunder on the due daie thereof. Thia i~lote and all sums due hereunder ah$11 bear interest at the highest - i _ lawful rate of interest per annum in the.State of F9orida -froiri- the_ date when the principal and acrrued intereat under ~ this Note al~all be due and payab~e. The total interest payable hereunder shall not in any one ~•ear exceed the highest ? lawful rate of interest in the State of Florida. ~ - . - 3 - _ - - - _ • _ 3 Thia Note is secured by a Mortgage, dated the date hereof, of property aitua+.ed in the State of Ftorida. ~ f - ~ - - _ . - - € , The Maker agrees that it shall be bdund by any agreement extending the time or modifying the above terma of pay- ; 3 - ment, made by the Payee and the owner or owners of the property affected by- said Mortgage, whether with or without } n~?.ice to the Maker, and the Maker shali continue liable to pay the amount due I~reunder, but with interest at A rale ~ . no greater than the Interes4 Rate, according to terms of any auch agreement of extenaion or modification. ~ - . - i The unpaid balance of the Principal Amount, plus accrued interest atiail become dae and payable at the option of the Pstyee-under the happening of an event by which said bals3nce shall or may. become due and payable under the terms of said Mortgage. . ~ _ . ~ - Tt.is Note may not be changed orally, but only by an agteement in writing, s;gned by the pariy against whom en- 4 forcement of any waiver, r_hange. rr,odification or discharge is sought. ~ - _ - - - ~ _ . ~ Alt parties to this Note. whether Maker; principal, aurety, guarantor or endorser. heteby waive presentment for ~ payment, demand, protest, notice oE protest, and notice of dishonor, and ezpressly agree_ jointly and eeverally to remain " and continue ~ound for the payrnent of the principal and interest provided for by the terms of this Note. notwithatanding ~ ~ ai?y eztension or extenaiona of the time of, or for the paymEnt of said~ principal or interest, or any chaage or changea ~ in the amount or amounts agreed ta be paid under or by virtue of the obligation to pay provided [or in thie Note, or - any change or changes by way of release ~r aurrender or substitution of any teal property and cc,llaterzl, or either. held as securify for this Note. and waive all and e~~ery kind of notice of such extension.or e:tension~, change or changes; and agree that the same may be made without the joinder of tha Maker. ~ ~ - - - - ~ - . ~ i : - - . . - t. - . - _ : _ . ~ - - : ~ + - ` ~ 51~9 Eastwood Arive _ _ ' . . _ ' . e - . F . _ . . _ _ _ " . . _ _ _ . _ . . . _ . _ _ . . _ _ _ Fort Pierce, Florida 33450 - - _ ~ _ _ - , - _ ~ ~ _ . ~ _ s - - 'f . eooK ~1~74 ~ . _ - _ - _ . a _ ~ _ ~nny sr a~ _ ~ - _ t . , ; _ _ _ _ . . ~ i.y _