HomeMy WebLinkAbout0945 MORTGAGE NOTE f~
AMOU T IOCATiON :.TE
s 14,~00.00 Fort Pierce, Florida Ap r i 1 1986
FOR VALUE RECEIVED, the undersigned, Ijointly and severally, if more than one) prom~ses to pay to
Sammy A. Collins
or order, in the ma~er hereiqaher~pecifj~d, the p~inc+pal sum of 14 000. 00
Fourteen t iousand an no! oo----------------------------"---"-~--'--"~S + ~
~V~th ~nterPSt from Aate at the rate of 10 per esnt, per annum on the balance from time to~time remain~ng unp~id. The said principal
and interest shall be payable in lawful money of the United States of America at
or at such place as may hereafter be designated by written notice from the holde~ to the maker hereof, on the date and in the manner fo{lowing:
This note is payabl~ in equal installments as follows:
ti~ginning on~'t'-rtay 7, 1986 the sum of $150.45 and the aame amount on the same day on each
m~nth in each year [hereafter until the entire principal sum of $14,000.00 together witti
~ccrued interest has been paid in fuZl.
in addition to the the payments provided for above the entire principal sum remaining
` unpaid [ogether with accrued interest remaining unpaid, shall be due and payable on
`r~'~pril 7, 1991 which final payment shall be in the amount of $11,534.40.
~+11 payments are to be applied first to interest at the rate specified herein upon the
principal sum of $14,000.00, 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 with interest is secured by a morSgaye on re~l estats, of even date herewith, made by the maker hereof in favor of the
said payee, and shalt be construed and enforced according to Me t~ws of the Stste of Florida The terms of said mortgage
are by this reference made a part hereof.
If default be made in the payment of any of the sums or interest mentioned herein o~ in said mortgage, or in the performance
of any of the agreements contained herein or in said mortgage, then the entire princi~al sum and accrued interest shall at the option of the
holder hereof become at once due and collectible without notice, time being of the essence; and said princip~l sum and accrued interest shall
both bear interest from such time until paid at the highest rate allowable under the I~ws of the State of Florida Failure
to exercise this option shall not constitute a waiver of the right to exercise the sa~ne in the event ot any subsequent default.
Each person liable hereon whether maker or endorser, hereby waives presentment, protest, notice, notite of protest and notice
of dishonor and agrees to pay all costs, including a reasonable attorney's fee, whether suit be brought or not, if, after maturity of this note
or default hereunder, or under said mortgage, co~nsel shall be empfoyed to collect this note or to protect the security of said mortgage.
Wherever used here in the terms 'holder', ' ker' and 'pa ' shall be construed in the singutar or plural as the context may
require or admit. ~
MAKER'SADDRESS ^ ~ t ~ ~l=":V(,~-,
Lo~ F. P so~ ~ Sandy G. P a r s o n s Q
1l N
~ H~(,~~~1, ! •'f~.i
j AND the mortgagor hereby further covenants snd agrees to pay promptly when due the prin-
i cipal and interest and other sums of mone~~ pro~ided for in said note and this mortgage~ or either;
` to pa~• all and singular the taxes, assessments, levies, liabitities, obligations and encumbrances of
` every nature on said property; to permit, commit or suffer no «~aste, impairment or deterioration
; of said land or the improvements thereon at anS~ time ; to keeo the buildings now or hereafter oii
~ said land fully insured in a sum of not less than its full insurable value, but in no event less than the
amount secured by this mortgage, in a company or companies acceptable to the mortgagee, the pol-
~ icy or policies to be held by, and payable to, said mortgagee, and in the event an}• sum of mone3~
becomes pa~~able b~~ virtue of such insurance the mortgagee shall have the right to receive and ap-
ply the same to the indebtedness hereby secured, accounting to the mortgagor for any surplus; to
pay all costs, charges, and expenses, including law~•er's fees and title searches, reasonably incurred
or paid by the mortgagee because of the failure of the mortgagor to promptl~• and ful1~- compl~•
with the agreements, stipulations, conditions and covenants of said note and this mortgage, or
~ either; in the event the mortgagor fails to pa~- n~hen due an~~ tax, asses~ment, insurance premium or
' other sum of money pa~•able by virtue of said note and this mortgage, or either, the mortgagee mati~
~ pay th~ same, without «•aiving or affecting the oi~tion to foreclose or any other right hereunder, and
~ all such paymen~4 shall bear interest from date thereof at the highest lawful rate then allo~ced b5•
~ the laws of the State of Florida.
~ IF any sum of money herein referred to be not promptl~• paid «~ithin days next after
! the same becomes due, or if each and every the agreemen~s, stipulations, conditions and covenan~~
~ of said note and this mortgage, or either, are not fully performed, complied with and abided b5~,
~ then the entire :~um mentioned in said note, and this mortgage, or the entire balance unpaid there-
~ on, shall forthwith or thereafter, at the option of the m~rtgagee, become and be due and pa~~able,
anything in said note or herein to the contrar~• not~rithstanding. Failure by the mortgagee to exer-
cise any~ of the rights or options herein provided ~hall not constitute a waiver of anv rights or op-
~ tions under said note or this mortgage accrued or thereafter accruing.
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