HomeMy WebLinkAbout0948 ` ~'~o ~~iaue and to ~~otd I~~a sam~, lu~i•I~u•r wU~~ I~~o tr~~rm~•+~tt, j~~~~~~~~~~umenls anc~ uppurl~•
( nou~~t I~~rrMo ~~r~un~tn~, nn~J fl~c ~rnb, Issuos nn~l pro~tlt Ili~rrol. unlo i~~~ mu~lpnt~e~. 1n ~t~ i(mpl~.
~n~ I~~s morl~opur roi~onar~l• u~U~~ I~io marlpapee I~ial Ihr mo?f~apor ir In~~rj~+isiG~y s~i:ed oj sald
~an~~ Jn ~e~ ~Impl~; I~~at lj~e morlg~por has pood rlvl~l and lou~~u~ au~~~urlly to cunt~or sai~ ~unr~ os uforo•
iof~; I~af 1~~s morfpador will mQk~ sucl? ~urlher ntsu?ances lo per~ecf I~i~ ~ee sin~plt Iills fo :a(d lond tn Ih•
morf~opet as muy re~sona6ly b~ requfre~: Ihal I~e morlpa(?or ~~ert•~y ~u~~y wurranlt ih• fl1~t lo ~oid ~on~
un~ u~l~~ ~~~lenc~ 1~~e same opatnst tI~• ~nu,(u~ c~ulmt o~ o~~ pers4nt w~iomtort~er: Afl~ I~~af ~rald ~on~ t~ ~ret
nnd cl~nr oj nll encumF~rance~ exeept for real property taxes arising subsequent to
December 31, 1985 and easements and restrictions as of record appear.
.
~rau~dcd ~tways, t~o! t~ taid morlUagor :hnl[ pay unlo said morf{~age~ !~t rerfatn promli-
sory note ~~e~~innjfpr su~?si~nlia~~y copie~ or 1~eniijiec~, lo-wit:
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PROHISSORY NOTE
;31,000.00 September S, 1986
Ft. Pierce, Florida
For value received, I, ~e, promise to pay. vithou[ defalca[ion, to the order of
FLORIDA NATIONAL UANK, SO1 Orange Avenue, P. 0. Box 3459. Ft. Pierce, Florida.
33448, the sum of j37,000.00, vith interest from ttie date of disbursement at a
rate of intecest which shall be a fixed rate_of 10.00x.
Payments upon principal and inter `f~`~~be payable as follows:
V
All accrued interest u~i` 9uns disbursed purs~ant to this Note,
' Mortgage securing the saue, and Construction Loan Agreement
shall be due upon the Sth day of each uonth t?ereafter through
and including December S, 1986. Thereafter, principal and
accrued interest shall be paid in 59 mon[hly ins[allmencs of
;357.06 each commencing upon [he Sth day of January, 1987 and
upon the Sth dpy of each month thereafter, together vith a final
e balloon payment of all unpaid principal balance and accrued
~ interest upon tlie 5th day of December, 1991. The balloon paymen[
~ vill Ee in the a~ount of ;33,503.81.
r .
~ • Each installment firat shall be applied in paywent of the interest and then o~ the
; unpaid balance of the principal sum. If default is made in the payment of any in-
~ stallment when due and auch default continues 30 days, then at the option of the
holder, and vithout any other notice, aIl [he reuaining installmenta shall be due .
any payable at once. Privilege is given to prepay this Note in vhole or in part
~
~ at any time vithout penalty. Neither forebearance nor acceptance by the holder
' thereof after any default in paymen[s hereon shall be deemed an extension. A la[e
? payaent charge of Sx of thQ amount of the p ment equalling ;17.85 shall be added
~ to each installment remaining unpaid 7 d~~+fter the due da[e a~d a similar charge
for each installment remaining 7 daysta~f each succeeding payment due date.
, ~4 `tiO
'i , t1
;E Each aaker, surety, and endorsp~~reof, jointly and severally, waives demand, pre-
~ sentment, protest. artd notice of protest for nonpay~aent, and facther agreea to any
# extenaion of time of payment. either before or after ma[urity, vittiout notice to any
of us; and to pay all costs of collection, includit~g a ren~onable nttorne~'c feea
for all proceedings~ trial or appellate, in the event of any default hereunder, and
hereby aeverally vaivea all benefit of homestead and exemp[ion under tf~e constitution
and laas of each State of the United States se against this obliga[ion or any exten-
~ sion or reneval hereof.
l~IITHESS the hand and seal of each party.
F
/s/ DOUGLAS K. Ta*4.INSON
DOUGLAS K. T0."4.INSON
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/s/ LORI TOHI.INSOH Q~~K 513 PA~E y~~
' ~ LORI TOl1LINSON
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