HomeMy WebLinkAbout0919 ~ 111~ E INTERE T
• PROMI~Q„RY NOTE
~ PR E R IATE[D
~7, 088. 83 Oct. S , ~g~_
For value received, the undersi4ned (and if more than one, each of them jointly and severaliy), here~nafter called
'."aker, promises to pay to the order of Sun 8ank of St . Lucie CountY (which, together v~+ith subsequent
(NAME OF 8ANK)
Ft.Pierce
~ uicers of thi note. 2~~ refer~e to as;'Bank"1 at its office at Florida, the princi-
:;ai sum of ~even T~ouan~ ~ E~ghty-Eight 6 83/100 Dollars • 088. 83 ?
~th interest from the date hereof at the rate of 16 . 04 3~ per annum on tt~e full amount of said principal sum
~ ~-maining from time to time unpaid, payable in 20 montnly insta,lments of ~ 118 . 94
~~:~ch on the 4th ~y of each successive month commenciny on Nov . 4 , ~ g 8 4 . The Maker
; romises to pay laie charges not to exceed 596 of the amount of any ~;ayn~en; or payments in default.
All payments made hereunder shall be credited first to interest and iaw*ul ch~ryes then accrued and the remain-
:~r to pr;nc~pal. The Maker has the right to repay this loan, in who:e or in part, ~•r~ct~out F en3l!•, ~t a~~,~ time upon tne
:~ymer:t of accrue~ and past d;:e interest to date of pre~ayment pius a s~~rv~ce `~e ir. v.e 3tlli~',,n; of the lesser of ~
~`~0.00 or 2 percent of the pr~ncipal amount of this loan (An?ount Fi,~ar~ced?, provid~~d, howe~~er, ,~~ot any ~:artial
~_payn~eni of principal shall t~ applied to the installmznt or in;t~llrn~ri;; of ~rir,;,~,,al last mat~rin~~ t,ereunder.
The amo•~nts referred to above have been computed ~pon the ~SSUrnptiur~ t?~ai a'i ~nstalln~~ent pa~, rn~r~t; ,~.~;1i be
~ a;.ie on the respective schedu!ed due dates. The interest is comp~,t~d on tt,e un~aici ouutand~ny princ~pal calance. If
instaliment is not paid in full on such du~ date, the rnaker wilt be obiigated to pa; s~cr~ adciitional amountsas
• ay become payable by reason of the continuing accrual of interest at t?~t ~~te des~~~ndted above. Anti~ resu.t~ng
~.arges accruing on account of faiture to make timely payment on the due c:ates ~ti~ill cause increases ~n surr~~ of tre
.~,,ounts designateci above, and such aggregate increase si~all be payab!e at the time of the last insca,!r~~ent if s~ch
_r,arges do not cause the amount ot the last installment to exceed twice tt~e amount of tr:e desi~n~!ed r~~or„hly
rstallment, otherwise the resulting charges shall cause the number of payments ro be ex*ende;~, prov~~iing, ho~.cver,
-~~at no such extended instaflmer,t payment shall exceed twice the amount of the d~s,gnated monthly installmznt. ,
:,r~y insta,lment payment made prior to any due date or dates, or any prepayment, may ca~se decreases ~n son:e of the '
~mounts desiynated above for the reason that the unpaid outstand+ng principal baiance ~vill oe red~.~ced and the
•;erest rate des~gnated above is appl+ed to such reduced outstanding balance to determine tt;e amount of interest that
s due.
If ti~e Bank deems itself insecure, or upon the happening of any oi the follo~ving events, each of which shall
,.:,nstitute o~e~ault here~nder, all liabilities of each Maker to Bank shail rhereupon or tt,ereafter, at the option of
~ar~k, tho~..~ notice or demand, become due and payable: (a) failure of any Oti~gor 1~~.`;~cr~ term s?~all r.~ean and
~~.:de each ~Y"aker, endorser, surety and guarantor of this note} to ~erform any ;,ro~~;s~on of *ne mortgage securing
c repayment hereof, to pey interest hereon when due, or to pay any otr~er liabil~r~ ~v;~atsoever to Bank ~vhen ~ue;
the death of any Obligor, (c) the filing of any peUtion under the Bankr~ptcy Code, cr any sim~lar federa~ or state
_~atute by or against any Obtigor; (d) an application for the appointrr~e~t of a receiver or the makir,g of a general
_~s gnnmant for the benefit of creditors by, or the insoivency of, any Oi}iigor; (e) the er.,~ y of a judyment agair.st any
;;;igor; (f) the issuing of any writ of attachment or writ of gami;hment, or tt:e filing of any tien, aga;nst any prop-
~ ~ of ~r~~Y~ Obiigor, Ig1 the taking of possession of any substantial part of the proc~erty of any Cb;;gor at the insianCe
E ~ any go~.ernmentat authority; (h) the dissolution, merge~, consolidatic;n or reor,anization of any Obl~gor, or (i) the
'p :<;.cr,ment bv a~Y h"aker of any equity in ihe real property s~curing ti~:is ;oarti :~,ithout the ~vritten consen, of Bank.
f In ad~:tion to the Mortgage securing this loan, the h~aker hereby ~r~nts to Bank a security interest ~r a;f prop-
~ of each Obligor now or at any time hereafter in the Rossession of Bank in any ca~acity whatsoever, including,
~ :c n0t lim~ted to, any balance or share of any deposit, trust, or agent account, as security for the payment of this
~ ~te, and a s~miiar lien upon and security +nterest in all such prope; ty of each ti?aker as security for th,e payment of ail
~-.er liabilit~es of each Maker to Bank (inciuding all liabilities of each hlaker).
~ The Obligors, jointly and severa!ly, promise and agree to pay all Costs ar~d expenses of ccllection and reasonable
;;~;;rn~ys' fees, whether incurred in connection with col}ection, trial, appeaf or otherw~se.
Presentment, demand, protest, notice of dishonor, and extension of time without notice are hereby waived by
~ and every Obi,gor.
~~~!aker ack~ovvledges receipt of a compietesi copy of this Note and age on~ab v date.
209 N. 40th. St. < < ~
--CDRESS SIGN ~ Lewis . arrison
Ft.Pierce,Fl. 33450 ~
:.~DRESS sic A URE Laverne P. Harrison
~ Qoc Sta~aps in the amount of $10.65 Affixed to Mortqage
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