HomeMy WebLinkAbout0103 :M=.-r=- . Forv°`~0408
Inatallment Note Data: f~1~t 3!~ 1~K
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For Valus Received, the underaigned promisea to pay to tha~osder of Ganeral
Development Corporation, a Delaware corporation authorised-to transact busiaess
in the State of Florida, tha principal sua of
Dollars toga er vith intereat on th~
~pa d alance of s~id priacipa reoaining froo tioe to tise at tha rate of
percent par~~ Fayoents on principal plus accrued
ntareat shall be made in aqual oo~nthly installmeata of
llsrs ) vommanciag on the lOth day_ of ~¦~r._,~, ~
and a lilce suai on the th day of each calendar oanth thereafter until
fully paid. Said installments shall be payable in lanful currency of tbe
United Statea of America or its equivale~t at: 2828 Coral way, Miami Florida. -
Payoents of iuatallaients at~all be credited first to accrued intereat and the
reo~aiader to reductian of principal. ~
?his indebtedness may be prepaid in whole or in part at any time prior to
maturity Without premium or penalty.
Bach malcer and endorser severally vsives demand, proteat and notice of
maturity, non-payment or protest and all rsquiremeats necessary to hold eacb
of them liable as makers and endoraera.
Bach maker and endoraer further agrees, jointly and severally, to pay all
costs of collection, including a reasonable attorney's fee in case the principal
of this note or any paymeat on the principal or any interest thereon is not paid
at the reapecti've maturity thereof, or in case it becomes neceasary to protect
the aecurity bereof, vhether suit be brought or not. ~
lbis note and d~ferred interest paqments sball bear interest at the ma~cimtio
sate prescribed by the laws of tbe State of Florida from maturity wntil paid.
lhia note is 8ecured by a purchase moaey mortgage of even date herevith and
is to be coastrued and enforced according to the laWa of the State of Florida;
upon default in the paymeat of principal and/or intereat due on tbis note
secured by said Kortgage, the remaining uapaid balauce of this note ahall
forthwith become due and payable notwithetanding ite tenor.
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. and shall perform, comply xith and abide by each and every the stipul~
tions, agreements, conditions arid covenants, of said promissory note and
o~ this deed, ~hen this deed and the estate hereby created shall cease
I and be null and void.
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~ AND the said Hortgagors, for themselves and~the3r heirs, legal represen-
~ tativ~es and assigns, hsreby covenant and agree:
l. To pa~r all and singular the principal and interest and other
sums of money payable by virtue of said pramissory note and this deed,
or either, promptly on the da~rs respectively the same severally oeco~ne
due. -
-2. To p~ all and singular the taaes, assessments, levies, lia-
bilities, obligations, and encnmb~ances of ev~ery nature o~ said dea-
cribed property, each and every, and if the same be not p~o~o~t~r paid
the said Hortgagee, its succeseors, legal repa~esentativ~es or assigns,
ma~~ at ar~ time pay ths same irithaut ~raiving or ~ affecting the option to
foreclose or a~r right heFeunder, and every pab?ment 8o made shall bear
interest t~o~n the date hereoY at the ma~d.mnun rate provided by the la~rs
~ of the State of Florida. -
3. To pa4r all and singular the costs, charges and eapenses, in-
cluding lsvyer~s Yees, reasonably incurred or paid at ar~r time by said
Mortgagee, its successors, legal representatives or assigns, because
_ of the failnre on the part of the said Mortgagora, their heirs, legal ~
representatives or assigps to perform, c~ly iri.th and abide by each ~
and ev~ery the stipulations, a~emnents, conditions ar~d covenants of
said pra~issory note and this deed, or eit.h~er, and every suc~-~e~rment _
shall bear interest f~am date at the m~a~dnaun rate pravided by the laxs
of the State af Florida.
4. To permit, co~ait or suffer no xaste, 3mpairuent or deterior-
ation af said property or at~r.part thereoi.
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