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Miami, Florida . 1~
Oc::ober 25 , 1967
AFTER DATE, FOR VALUE RECEIVED, the u::dersigned promises to pay
~ to the order of WILLIAM REBUTH, Trustee, o~ order, the principal sum
~ of SIXTY-TWO TKOUSAND and no/100 Dt?LLARS ($G2,040.Q0)E payable in the
following installments and at the followi:~r times, to-wit: $b,888.89
- one year after the date hereof, and a lik:: sum of $6,888.89 on the cor-
respondinq date in each and every year thereafter until the entire
principal amount of this note has been paid in gull ~beinq nine (9)
equal instalunents of principal), toqether with interest on the amount
of this note., figured always on the diminishing and unpaid principal
balance, from time ta time, computed from and after the date hereof,
at the rate of six per cent (68) per annum, interest payable annual2y
from and after the date hereof. .The principal and interest shall be
payable at the offices of ALLEY, MAASS, ROGERS, LINDSAY & CHAUNCEY ~
321 Royal Poinciana Plaza, Palm Beach, Florida, or at such other place
or places as the payee or holder of this note may desiqnate, in writinq,
from time to time. ~
Failure of the maker or any other person now or hereafter liable
for the payment of the within note, to pay any installment of prin-
cipal and interest, as and when they become due, with"such failure
continuing uncured for thirty (30) days, will confer upon the payee
or holder of this note, then or thereafter, while such failure con-
tinues uncured, the privilege of acceleratinq and callinq due the en-
tire unpaid balance of principal and interest evidenced Y~ereby, any-
thing to the contrary in this note cantained. The privileqe just
herein referred to is "the acceleration grivilege" and i.t corresponds
to the acceleration privileqe contained in the mortgage which secures
this note; and-the period of thirty (30) days referred to ip this
note and correspondingly contained in the acceleration clause set
forth in the said mortqaqe are periods of time which shall run con= •
temporaneously and not successively.
This note is secured by a purchase money second mortqage of even
date herewith made by the maker hereo~, as Mortgagor, unto the payee
~ hereof, as Mortqagee, encumbering lands in St. Lucie County, Florida;
and all persons to whom these presents may come are referred to the
said purchase money mortgage where it appears among the public records
of St. Lucie County, Florida, for the effect upon this note of those
portions of the mortgage which refer to and contain provisions re-
' lieving the maker of this note from any personal liability for the
payment of the within note.
~ The maker reserves the privilege of prepaying the indebtedness
evidenced hereby in whole or in part at any time after January 2, 196it,
without penalty or premium for such prepayment, and all partial pay-
ments made or. this note shall apply to and be credited against the
next maturing installment or installments of the indebtedness evi-
denced hereby.
~ The maker and all persons now or hereafter liable for the pay-
' ment of the within note hereby agree to waive demand, notice of non-
payment and of dishonor and of protest, and agree that if, by reason -
of default in the within note, the payee or holder employs an attor-
ney at law to enforce the within note and the mortgage which secures
it, to pay all costs of court and reasonable attorney's fees incurred
or expended by the payee or holder. This note may not be endorsed
or assigned as to part only of the unpaid principal amount thereof.
GENERAL DEVELOPMENT CORPORATION •
By s, Frederick E. Roach
Attest: ts "
ExecutiWe Vice-President
- BY`_ sf David A_ Doh _riy
1' M E,N f'•.Its Secretary
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