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Home My WebLink About0975 + SIMPLE INTEpEST ~ PHORAISSORY N4TE ~ROPERTY R~LATED ' , BALLOON ^ ~ 15,142.08 ` . ~ Nov. 4 _,19 86 ; i ( For value received, the undersigned (and if more than one, each of them joinlly and severally), hereinafter called Maker, promises to pay to the order of Sun Bank/Treasure Coas ~ a1 (which, to~ether w~lh subsequent (NAME t)F E3ANK) ~~~"~~~~a~- Ft.pierce ~ holde~s of this note, are re(erred to as "8ank") at its office at _ lo ia, the ~~rincipal sum r~-~~ . d~ of F~f teen Thousand One Hundred Forty=T~o & 08 100 pollars with interest trom the date tiereof at the rate ot 11 • SQ % per annum on ths tull amount of said principal sum remain- + ing from lime to time unpaid, payabfe in 59 monthly installments oi $ 177 .17 each on the 4th day o( each successive month commencing on _ Dec. ~a , 19 together with one pay- ment in lhe amount of $ 12,802.99 , due on Nov. 4 ~g~~- provided, however, that the final payment af the entire indebtedness evidenced hereby, if not sooner paid, shall be due and payable on _ N~v. 4 , 19 91 . The Maker promises to pay late charges not to exceed 5% o( lhe amount oi any payment or payments in default. All payments rnade hereunder shall be credited first to interest and lawful charges then accrued and the remainder to principal. The Maker has the right to repay this loan, in whole or in part, without penalty at any Ume upon the paymenl ol accrued and pasl due interest to date of prepaymenl plus a service fee in tt~e amount of the lesser oi $50 00 or 2 percent oi tt~e principal amount of this loan (Amount Financed), provided, however, that any partial prepayment ol pr~ncipal shall be applied to the installmenl or installments of principal last maturing hereunder. The amounts referred to above have been computed upon the assumption that alf installment payments w~ll be made 1 on the respective scheduled due dates. The interest is imposed on the unpaid outstanding principal balance. If any { inslallment is not paid in tull on such due date, the Maker will be obtigated to pay such additional amounts as may become ~ payable by reason of the continu~ng accrual of interest at the rate desiynated above. Any resulting charges accruing on i account of (ailure to make timely payment cn the due dates may cause increases in some oi the amounts designated above. ~ and such ac~gregafe increase sha11 be paya~le at the time o( the last installment. Any installment made prior to any due date or dates, or any prepayrnent, w~ll cause decreases ~n some of the amounts des~gnated above for the reason that the unpaid ~ outstanding principal balance w~ll be reduced and the interest rate designated above is appl~ed to such reduced outstand~ng balance to determine th~ amoun! o( interest tiiat is due ~ U the Bank deems itself ~nsecure. or upon the happening o( any of !he tollowing events, each of which shall conslitute a default hereunder, all liabilities of each Maker to Bank shaU thereupon or thereafter, at the option of 8ank, without notice ar de?nand, become due and payable (a) (ailure of any Obligor (which term shall mean and include each Maker, endorser. surely and guaranior of this note) to perform any provision ot any securily agreemenl secunng the repayment hereof, to pay ' ~nterest hereon when due, or to pay any other liability whatsoever to Bank when due: (b) the death ot any Obligor. (c) the f f~l~n of an etition under Ihe E3ankru tc Code, or an similar federal ar state statute b or a ainst an Obli or; d an _ 9 YP P Y Y Y 9 Y 9 O ,~E~E~lication tor the aE~pointrnent c~f a receiver or the making ef a general assignment (or the benefit of creditors by, or the ~nsolvency of, any Obliyor, (e) the entry cf a ~udgmenl ayainst any Obligor, (f) the issuing of any writ of attachment or writ of yamishment, or the fil~ng of any lien. against any property of any Obligor, (g) the taking of possession of any substantial part of the property of any Obl~gor at the ~nstance of any c~overnmental authority: (h) the dissolution, meryer, consolidation or re~ryani~at~on ot .~ny O~ligor, or the transfer ol aIl or any par[ of the real property which is pledged as security tor lhis note, except as ~s permitted under the terms of the Mortyage, without the prior writte~ consent of the Bank. ~ In add~Gon to any other Collateral secunng th~s loan, if any, the Maker hereby grants to E3ank a secunty irneresl in all E~roperty ot each Obligor now or at any time hereafter in the possession of Bank in any capacity whatsoever, including, but not limiteci to, any balance or share of any deposit, Uust, or agent account, as security for the payment of this note, and a s~rnilar lien upon and security interest in all such property o( each Maker as security for the payment of all other liabilities o( each Maker to Bank (including all liabilities oi each Maker). Tt~e Obliyors, jointly and severalfy, promise and ayree to pay II costs and expenses of collection and reasonable . T attorney's fees. whether incurred in connection with collection, tria appsal or otherwise. Presentment, demand, protest, notice of disho~nr, and ion of time without notice are hereby waived by each ~ and every Obligor. ' - Maker acknowledges receipt of a completed copy of this Not~~ ortgage on the abov ate. _ Current Mail Address ~ ~ 1129 Preston Lane~ Pt. St._Lucie, F1 33452 ~ ~;i~i~i~t_ss E Francis Sa rs, r. / n~nr~~ss sicNnTU~E Doc stamps in the amount of $22.80 affixed to mortgage 50M and under - balloon 3 o4S5 000-7 (Rev 4 84) OiiIGINAL - Bank Copy YELLCW - Customer PINK- File ~ l~~ ~ G ~ , a s~(%~b in i'aymont 0{ 7~:xr.'- ~:~:~e~ - C;.,ss "C" ~nr ,4:;Ic Persc~al Property, 0 ~ ~o Ch~t,trsr 71. 1;,4, Acts Of 1 ~ , ~iO(iER P(~ITRAS ~ • te, Co., ~ ~r r ~ ~:,<<~~,~~ ~.o~,<<, '86 NOV 10 P3:2i - i ~ ~i~E . - - . _ RoGt(; , i~f1Y ST. 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