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R~ceN~d~S 5-
5~ i~ e Pa:sonal P~oPe~~+
Due
p~;suant To Cna,~ s~ l3-t, A~s Of 197 •
UNIT WEEK 25 UNIT_
RO~ER P~~T~S
~k Circu~t Co~~. st C°" ~ UNIT WEEK UNR
MORTGAG~ NOTE
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FOR V~?LUE RECEIVED. the undersigned jointly and severaily promise to pay to the order of TURT~E REEF
ASSOCIATES, INC.~ a Florida co~po~ation, (hereinafter~ together with any subsequent holder hereof, referred
to as "Holder'~~ whose principal address is P.O. Box 1588~ Jensen Beach~ Florida 33457. without grace, the
principal sum of Vr~'YN TB~IUSAND T~Cl-~iLTNDRF~T1-s~ad nol~[L~---------------- DOLLARS
together with interest thereon at~r~~8f ~ nine ten~~~ent ( 1„s
_~a 96)
pe~ annum, in manthly installments of ~ DOLLARS
~q„ an payabie monthy on the first of each month, beginning on such date as may be
directed by Holde~, but in no event later than 120 days from the date hereof. and each consecutive month
thereafter until paid in full. No interest shall accrue hereunder prior to the recording of the Mortgage of even
date herewith or90 days from the date hereof, whichever shall first occur. All installments or payments shall be
first applied to interest accrued and the balance thereof to principal. The entire remaining principal balance
outstanding hereunder, if not sooner paid. shall be due and payable in full g.,,a ~ months from the date of the
first payment called for hereunder in accordance with the terms and conditions hereaf.
; This Note may be prepaid in whole or in part at any time without penalty.
If any payment of principal interest called for hereunder is not paid within ten (10) days of its due date,
Borrower agrees to pay a late charge equal to either five percent (596) of any such installment or Fve Dollars
($5.00), whichever is greater.
In no event shall the amount of interest due or payments in the nature of interest payable hereunder or under
any mortgage security agreement securing this Note, exceed the maximum rate af interest allowed to be
contracted for by applicable law~ as changed from time to time, and in the event any such payment is paid by the
undersigned or received by Holder, then, such excess sum shall be credited as a payment of principal, unless
th~undersigned shall notify Holder, in writing, that the undersigned elects to have such excess sum retumed to
it forthwith
Time is of the essence of this Note and, in case this Note is collected by law or through an attorney at law. or
under advice theref~om, the undersigned agree to pay ali costs of collection, including reasonable attome~s
fees, which fees are deemed to include, but not limited to, all fees incurred in all matters of collection, and
enforcement, construction and interpretation, before, during and after suit. tsiai,~proceedings and appeals,
~ bankruptcy proceedings or creditors' reorganization or similar proceedings. ~
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All persons or corporations now or at any time liable, whether primarily atsecondarily~ for the payment of the
indebtedness hereby evidenced, for themselves. their heirs, legal repre$@ntatives, successors and assigns,
. respectively hereby exprssslywaive any presentment, demand for paymertt, notice of dishonor. protest, notice
~ of nonpayment or protest, diliger.ce in collection, and do consent thatthe time for all payments or any part
M thereof may be extended, rearranged, renewed or postponed, and further.co~sent fhat the cotlateral security or
~ any part thereof may be released~ exchanged. added to or substituted for virithout in anywise modifying,
~ aitering, relsasing, effecting or limiting their respective liability hereunder.or the lien of any security instrument.
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If more than one party shall execute this Note, the term "undersigned", as used herein, shall mean all parties
~ signing thiS Note and each of them, who shal! be jointly and severaily obligated hereunder. This Note is secured
` by a Mortgage of even date herewith upon real property in the State of Flori~l~,;
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FILEC~ a~;~
~ ROGER 'rU~ ~ ~~-E~K SYLVESTEF CAL
~ . ST. LUC~E ~O~hT FL.
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