HomeMy WebLinkAbout1407 - ' • For~ CR 750408
Iastallment Note Date: 1~L'T
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For Value Received, the uaderoigaed promisea to pay to the order of General ~
Davelopment Corporatioa, a Delavare corporatioa authorised to tranaact bu~inass
i
~in the State of Florida, tbe principal suo of ~I1S ~ L~.
~~1 Mi,~+ • Dollars a.~L~.M ) tog~ther vitb interart cn tha
unp
id~balanca of
s id principal ra~sining
rorf time to tios at ths rate of
~ perceat per . Payoeats an psiacipal.plus accruad
intaraat ~hall ba sada in aqual ~ontbly in~talloent~ of,
m~„_'~~
~
~ Dollara ) comseacing on tha lOth day of ~ f
19 and a like su~ on the day of each calendar mouth thereafter vatil ,
fully paid. Said iastallosats ahall be payable.in lawful curreACy of the
United States of America or ita equivalent at: 2828 Coral Way, liia~i Florida.
Payoents of inatalloeata shall ba credited first to accrued intereat and the
resaindar to reduction of principal.
lbis indebtednes• may be prapaid in ~ole or ia part at anq time prior to
eaturity Witbout previvm or penalty. -
Bach maker_and endorser aeverally vaives demand, protest and notice of
oaturity, nan-pay~ent or prote~t aad all require~ents necessary to hold eacb
of theo liable as evakers and endorsera. .
Bach saker and endorear furtber agrees, jointly and sevexally, to pay all
coets of collectian, including a reasanable attoraey's fee in case the principal
of thie note or a~r psyment on the principal or aay interest thereon i8 not paid
at the respective maturity thereof, or in caee it becomes necessary to protect _
. the security hereof, vhether suit be brought or not.
This note and deferred intereat paymenta shall bear interest at the mauiauo i
rate prescribed by tbe lawa of the Stste of Florida from maturity uatil paid.
~is note ia aecured by a purchase maney mortgage of even date herewith and
ia to be canatrued and enforced according to the laws of the State of Florida;
upan default in the paymeat of principal and/or intereat due on this note _
se~1lf~~'!y said Kortgage, the remaining unpaid balaace of this aote ahall
fo~lC~! become due and payable aotwitbstanding its tenor.
Ji~ ~i~r s~rs (s~.)
.
~ r• iws _ cs~t.)
~
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and shall perform, con~ly xith and abide by each and every the stipul~
- tions, agreements, coriditions ar?d cov+eAants of said promissory note aud
oY this deed, then this deed and the estate hereUy created shall cease
and be null and void. -
. AND the said Mortgagors, for themselves and their heirs, legal represen-
; tativea and assigas, hereby covenant and agree:
E ~ l. To pa~r all and singular the principal and interest and other .
I
~ sums oY monep pa~rable by virtue of ssid pro~missory note and this deed,
or sither, pr~ptly on the da~s respectively ths same severally become
due. ~
~
2. To pa~y all and singulai' the tazes, assessments, levies, lia-
bilities, obligations, and encumb~ances of ev~ery nature on said des-
~ cribed property, each and everq, and 3f the same be not p~a~ptly paid
the said Mortgagee, its successors, legal rep~esentati~v~es or assigris, ;
m~r at at~r time p~ the same trithout ~taiving or afYecting the option to
foreclose or a~r right hereunder, and every pa~?ment so mads shall bear ~
interest fraan the date hereoP at the ma~mim rate provided by the laxs -
ot the State of Florida.
3. To p~s Yees rea~~son~ably incurred~or paidsat aqy~time by said
- cluding lavye s
~ Mortga~ee, its snccessors, legal representativ~es or assigns, because :
~ oY the ~ailure on the part oY the said Mortgagors, their heira, legal '
repreeen~ativ+es or assigns to perform, caa~ly s~rlth and abide by each t
and ev~ery the stip~u].ations, agreementa, conditions and covenanta of
said pro~nissory note s~ this'deed, or either, and every such pa~nent
sh811 bear interest from date at the ma~d.nn~m rate prrn?ided b3? the la~s .
of the State of Florida.
4. To peiznit, co~it ar suffer no xaste, 3mpairment or deterior-
ation of eaid property or ar~? part thereof. ~
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