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Home My WebLink About0923 . I . . ~ ~ SiMPLE INTEREST ~ ~ ' PROMISSORY NOTE . ~ ~ - : PROPERTY RELATED ~ _ ~ 16.923.~5 Octobe,r 2_ , 19_$4_ I _ For value recen?ed, the undersigned (and if more than one, eacn of them jointly and severally~, hereinafter cailed ~ ','aker, promises to pay to the order of Sun R~nlc nf S~ 1 urie_~-~.tlt~t~_ (which, together with subsequent (NAME OF BANKI ' • ~~;ers of this note, ace referred ta as "Bank") at its office at Ft _ PiPrre ~ FI ida, the prir,ci- s~m a; --~ixteea thousand Nine hundred twentv three b 35/100 Do~lars 1$ ~73.~~a ~ ~t~~ interest from the date hereof at the rate of 15.99 % per annum on the full amount ofs~ id pri?cipal sum ~~-~r a~ning from time to time unpaid, pay8ble in 120 monthly i~stallments of $ e83.3/ on the lst ~y of each successive month ccmmencing on November 1 , 19 8 . The Maker ~~;r~,ises to pay late cha~ges not to exc~ed 596 of the amount of an;~ payment or payments in default. All payments rtiade hereuncier stiall be credited first to interest and lawful charges then accrued and the remain- to princ+pa!. The Nlaker has the right to repay tnis loan, in titit;ole or in part, without penalty at any time upon the ::,ment of accrued and past due interest to date of prepayment pfus a service fee in the amount of the ~esser of :.5:;.t~0 or 2 percent of the principal amount of this loan (Amo~nt Financed), provided, however, that any partial ~~:,ayment of principal shall be applied to the installment or installments of Frincipal last maturing hereunder. Tne amoun;s referred to above have been computed upon the assump;ion that a~l installment payments wsll be on the res~tive scheduled due dates. The interest is computed on the unpaid outstanding principal balance. If .,:nstal'ment is not paid in full on such due date, the maker will be obligated to pay such additior~af amounts as • a; be~ome payable by reason of the continuing accrual of interest at the rate designated above. Any resulting ~.orges accruirg on account of faiiure to make timely payment on the due dates will cause increases in some of the 'I ounts des~gnated above, and such aggregate increa5e shall be payable at the time of the last instal{ment if such ; •~•;es do not cause the amount of the last installment to exceed twi;,e ;he amount of ihe designated monthly .r^ent, otherwise the resulting charges shall cause the number of payments to be extended, providing, however, ~ r~o s~.ct~ extended installment payment shall exceed twice the amourt of the designated monthly instatlment. ~ -,,nsta:~r~ent peyment made prior to any due dste or dates, or an~~ prepayment, may cause decreases in some of the ~ ~~r:ts des~gr:ated above for the reason that the unpaid ou*.standing principal balance wil{ be reduced and ?ne ; ••~_s; rot~ ~es~gnated above is appliec! to such reduczd outstanding t,alance to determine tr.e amount of interest that .F j if tr ~ Bark deems itself insecure, or upon the happen~ng ef ~jny of the followin~ events, each of ~~:hich sha!I ' c..te o default hereunder, all liabilities of each Maker to Bank shall. thereupo~ cr thereafter, at the option of ~ w~tno~t notice or demand, become due and payable: (a? !ailure of any Obl~gor (wr;ich term shall mean and ~ _.:c:e eact~ ~~laker, endorser, wrety and guarantor of this note) to perform ~ny prov;sior of the mortgage securing rEpa; me~t hereof, to pay interest hereon when due, or to poy any other liability whatsoever to Bank vrhen due; ~ ~ tr.e deatr: of an;~ Obligor; (c) the filing of any petition under the Bankruptcy Code, or any simiiar federal or state ~~..te by or aga~nst any Obligor; (d) an aaplicetion for the appointment of a receiver or the making of a yeneral ~ ;r,nmer,t for the bene`it of creditors by, or the insolvency of, ar~y Obiigo;; (e) the entry of a judgmert against any ~ ~~~or; ff; the ~ssuing of any writ of attachment or writ of garnishment, or the fili; g of any lien, against any prop- ~ of any Obiigor; (g? the taking of possession of any substantial part of the property of any Obligor ai the instance . :,~~y governmental authority; (h) the dissolution, merger, consolidat~on or reorga~ization ~f any Ob(igor; or (i1 the - ;n-~:~nt by any Maker of any equity in the real property securing this loan without the ~vritten conseni of Bank. ~ In add~tion to the Mortgage securing this loa~, the Maker hereby gra~ts to Bank a security interest in all orap- ~ of each Obligor now or at any time hereafter in the possession of Bank in any capacity-whatsoever, incfuding, not I~mited to, any b8lance or share of any deposit, t~ust, or agent account, as security for the payment of this and a s~milar lien upon and security inter~st in all such property of each Maker as security for ihe payn~~ent o~ all r_r ~;ab~lities of each Maker to Bank (including all liabilities of each Maker?. The Obligors, jointly and severally, promise and agree to pay all Costs and expenses of collection and reasonable ;~.,rneys" fees, whether incurred in connection with collection, trial, apGeal or otherwise. ~ Presentment, demand, protest, notice of dishonor, and extension of time without notice are hereby waived by . and every Obligor. Maker acknowledges receipt of a completed copy of this Nqte and mortgage o he ~bove da . . 1902 N. 16th Street ~ ~ ~ -~..DRESS GNATURE ~Qwis ce Jr ~ Fort Pierce, Florida ' GUHESS ~ SIGNATURE a i sy E. Ri ce '84 OCt 10 P 3 :O1 s'~1~ BOOK~S PsGf ~3 ;'.1 ind under - non~tlppn - Fll~ : ' ~ '`a•`~'4 00(18 N ~l8~ ROGC~ ~ ~ ORIGINAL Bsnk Covy YEILOW - Customer PINK - FiN ST. LUC~E ~ ' ~ ' ~'r~ - ~ - ~ -