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~ R~c~ivsd s~_~~ In Payment Oi 'faxN
Du On Ciess "C" Intan_,ib'e Pe?sonal Prop~rty~ l
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p~ ant To Chap•er i~, 13~, Acts Ot 1971. UNIT WEEK UNR D-1? ~
ROGER PNTRAS ~L~ UNIT WEEK UNIT
Clklt Circult Court~ tL ~ucis. Co.. Fk. .
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MARTGAGE NOTE ,1 ~ -
$ ?.100.00 ~nrin¢field~ VA
g~r_~,1 12 ~ 1986 , 19
FOR VALUE RECEIVED. the unde~signed jantly and severaliy pr to pay to the order of TURTLE REEF
ASSOCIATES, INC.. a Flo~ida corporation~ (herei~efter, together with an bsequent holder hereof. refeRed ,
to as "Hoidet'~, whose principal address is P.O. 6ox 1588. Jensen Beach. Florida 33457, without grace, the
principal sum of 3even Thougand One ~iundred k 0~/104 DOLLARS
?s100.00 Fii~een ~ N~ne Teoths
togethe~ witti interest e~eon at t e rate of percent l, 15 . 9
per annum. ~ monthiy instaliments of One Hundred Forty ~ 62/100 ppLLARS
140.62 payable monthly on the first of each month, beginning on such date as may be
directed by Holder~ but in no event late~ than 120 days from the date hereof, and each consecutive month
thereafter untii paid in fuli. No intarest shall accrue hereunder prior to the recarding of the Mortgage of even
date herewith or90 days from the date hereof~ whichever shail first occur. All instaliments o~ payments shail be
first applied to interest ac~rued and the balance thereof to principal. The entire remaining principal balance
outstanding hereunder. if not sooner paid, shall be due and payable in full 84 months from the date of the
first payment called for hereunder i~ accordance with the terms and conditions hereof.
This Note may be prepaid in whole or in part at any time without penalty.
If any payment of principal interest cal{ed for he~eunder 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
i any mortgage security agreement securing this Note, exceed the maximum rate of interest allowed to be
contracted for by applicable law, as changed frorrr 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,~rincipal, unless
the undersigned shall notify Holder. in writing, that the undarsigned elects to have such excess sum retumed to
it forthwith -
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Time is of the essence of this Note and, in case this Note is collected by lavii or throuph an attorney at law, or
under advice therefrom, the undersigned agree to pay ali costs of coNectibn. including reasonable attome~s
fees, which fees are deemed to include, but not limited to, alt fees inc~irred in al! matters of collection. and ~
` enfo~cement, construction and interpretation. before. during and aftei'sut~, tc~al,~ proceedings and appeals,
f bankruptcy proceedings or creditors' reorganization or similar proc.eeditigs. =
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~ All persons or corporations now or at any time liable, whethe~ primarily ~"r~Sgcondarily. for the payment of the ~
~ indebtedness hereby evidenced, for themseives, their heirs, legal repre~entatives, su~cessors and assigns,
respectively hereby expressly waive any preseMment, demand for paytYiest, notice of dishonor, protest, notice ~
; of nonpayment or protest, diliger.ce in r.ollection~ and do consent ttiaf tfie time for all payments or any part
~ thereof may be extended. ~aRanged, renewed or postponed, and fuFStigr consent th~x the collateral security or j
F any part thereof may be released, exchanged, added to or substitnted for witfiout in anywise modifying,
~ altering, releasing, effectit~g or limiting their respective liabillty hereunder orthe 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 shall be jointly and severally obligated hereunder. This Note is secured
by a Mortgage of even date herewith upon reat property in the State of Florida
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