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' In PaYme~ /
~ ~ ~ tie Personal P~o'er.y
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E~ P~17~tAS ~r~. UN[T WEEK ~ UNIT
Cla~k Ci~cu~t S~' ~ ~
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MORTGAGE NOTE I~
~ $ ~ ~ ~oo . oo SgrinQf ield ~ YA , ~
,~~ril 20.1986 , 19
FOR VALUE RECEIVED. the undersigned jointiy and severally promise to pay to the order of TURTI.E REEF
ASSOCIATES, INC., a Florida corp4ration, (hereinaffer~ together with any subsequent hoider hereof, referred
to as "Hoider'~, whose principal address is P.O. Box 1588. Jensen Beach. Florida 33457. without grace. the
principal sum of Seven, Thoueand One Hundred 00/100 pOLLARS
? 100.00 teea_ ne ent s
• together with interest thereon at the rate of percent 1(, 5• 9_96)
per annum, in monthly installments of One Hundred Forty 8~ 62/100 DOLLARS
140.62 pay~~e monthy on the first ot @,ach rl~onth, beginning on such date as may be
directed by Holder, but in no event rater than 120 days from the date hereof. and each consecutive month
thereafter until paid in full. No inter~st shall accrue hereunder prior to the'recording of the Mortgage of even
date herewith or 90 days from the date hereof~ whichever shall first occur. All installments or payments shall be
fi~st applied to interest accrued and the balance thereof to principal. ?he entire re~maining principat balance
outstan~ing hereunder, if not sooner paid. shall b~ due and payable in f~ll 84 fionths from the date of the
first payment called for hereunder in accordance with the terms and conditions hereof.
This Note may be prepaid in whole or in part at any time without penalty.
1 .
If any payment of principaf interest called for F~ereunder is not paid within ten (10) days of its due date,
Borrowe~ agrees to pay a late charge equal to lther 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 inti~e na~ure of interest payable hereunder or under
any mortgage security agreement securing this Note. ezc~ed the~'maximum rate of interest allowed to be
contracted for by applicabie law, as changed from time to time, a~id in the event aey 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 shall notify Holder, in writing. that the undersig~ied elects to,~iave such excess sum returned to
it forthwith ' ~
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Time is of the essence of this Note and, in case this Note is collected by law or through an attorney at law, or
E under advice therefrom, the undersigned agree to pay all costs of collection, including reasonable attomeys .
fees. which fees a~e 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, t~ial, proceedings and appeals,
bankruptcy proceedings or creditors' reorganization or similar proceedings.
All persons or corporations now or at any time liable, whether primarily or secondarily. for the payment of the
indebtedness hereby evidenced, for themselves. their heirs, legal representatives, successors and assigns,
respectively hereby expressly waive any presentment, demand for payment, notice of dishonor, protest, notice
of nonpayment or protest, diliger.ce in coilection, and do consent that the tims for all payments or any part ,
thereof may be extended, rearranged, renewedprpostponed, and further consent that the collateral security or
any part thereof may be released, exchanged, added to or substituted for without in anywise modifyi~g, '
altering, releasing, effecting or limiting thei~ respective lia6iliry hereunder or the lien of any security instrument.
~ If more than one party shall execute this Note, the term "undersigr?ed", as used herein, shall mean al! parties
signing this Note and each of them. who shall be jointly and severally obligated hereunder. This Note is secured
~ by a Mortgage of even date herewith upon real property in the State of Florida
'750~44
. ~
~ n~rr ~5 a9:az ^ (SEAL)
fILEO ` " ~ ' Ge~rge ~f. Dicke .
ROGER PG~T ~ ti_~~ icrt /
ST. LUCIE C~~~:k~~`y. f~- / • ,
Z~' _ (SEAL)
Aletma J, icheq
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