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ReteHed s~_~_ Irt Payment Ot Taxef ~~22 ~7
~ Due On C;ass ~n•~n i~e Per54na1 Property, ~p~J~ yyEEK~3 UNIT".~~"_~'
Pws~ant To Ch,,p er ix, 133, Acls Of 1971.
ROi;ER P~ITRAS ~L UNIT V~~K UNR
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, C1erk Cl/cuit Court. S~ Lucie. Co.. f'tt. ~
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- ~ ~MORTGA~E F z'~
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$ 7,100.00 Springiield, VA ~
April 10 , 19 86
FOR VALUE RECENED~ the undersigned jointly and severally promise to pay to the order of TURTLE REEF
ASSOCIATES. INC., a Florida corpo~ation~ (her~ir~atter~ together with any subsequent holder hereof, reteRed
to as "Holder~~ whose principal address is P.O. Box 1588. J~nsen Beach, Florida 33457, without grace~ the
principal sum of 3~9~ THOUSAND ONS MUNDAED and NO/~QU-----------------~LLqRS
~a 7,100. 00 together with interest thereon at the rate of Fi it een & pe~cent 15 ~ 9 96)
per annum. in monthly instaliments of ~D~D FORTY ~ 82l100 ppLLARS
140.62 payable monthy on the first of each nth. beginning on such date as may be
directed by Holder, but in no event later than 12a days from tF~
date hereof, and each consecutive month
thereafte~ until paid in fuli. No interest shall accnie hereunder prior to the recording of the Nlortgage of even
date herewith or90 days from the date hereof, whichever shall f~rst occur. Ail instailments or payments shall be
first applied to interest accrued and the bafance theKeof to principal. fi~e enti~e remaining principa) balance
outstanding hereunder, if not sooner paid. shall be due and payablR ~~all 84 months from the date of the
first payment cailsd for hereunder in accordance with the terms'~nd conditions hereof.
Ttiis Note may be prepaid in whol~ or in part at any time without penalty.
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ff any payment of principal inte~eSi~~alled for he~eunder is not paid within ten (10) days of its due date,
Borrower ~gree~ to pay a late charge equat to either five percent (5%) of any such installment or Fve Dollars
(~5.Q0). whichever is greater.
In no event shall the amount of interest due of payments in the nature of interest payable hereunder or under
any mortgage security agreement securing this Note~ exceed the maximum rate of interest allowed to be
contracted for by applicable faw. as changed from time to time, and in the event any such payment is paid by the
undersigned or received by Holder, then. such excess sum shall be credited as a payment of principal, unless
the undersigned s'hall notify Hotder. in writing, that the undersigned elects to have such excess sum retumed to
it fo~thwith ~
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f Time is of the essence of this Note and. in case this Note is collected by law or through an attorney at law, or j
u~der advice therefrom, the undersigned ~~ree to pay aU costs of collection, including reasonable attome~s
fees. which fees are deemed to include~ but not limited to. ail fees incurred in al! matters of callection. and
enforcement, construction and interpretation, before, during and after suit, trial, proceedings and appeals,
bankruptcy proceedings or creditors' reorganization or simita~ proceedings.
All persons or corporations now or at any time liabte, whether primarily or secondarily. for the payment of the •
indebtedness hereby evidenced, for themselves. their heirs, isgal representatives, successors and assigns, ~
. respectively hereby expressty waive any presentment, demand for payment, notice of dishonor. protest. notice
of nonpayment or p~otest, difiger.ce in c~llection, and do consent that the time for all payments or any part
thereof may be extended~ rearranged. renewed ar postp~ned, and further consent that the caNateral security or
any part thereof may be released, exchanged. add~i to or substituted for without in anywise modifying,
alterir~g. releasing, effecting orlimiting their respecuve lialiitity hereunderorthe lien of any security instrument.
~ If more than one party shall execute this Note, the term "undersigned", as used herein, shall mean all parties
~ signing this Note and sach of them, who shali be jantly and severally obligated hereunder. Th'ss Note is secured
by a Mortgage of even date herewith upon real property in the State of Florida
'7~{}fi36 ~~f' MRY 15 A9 :38 . .
• (SEAL)
FILED : Jean L. Broadie
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