HomeMy WebLinkAbout1707 _ ~ , ' •
N 0 T E
- $188,000.00 . KnoxvilZe, Tennessee
Octoher , 1967
" FOR VALUE RECEIVED, we, the undersigned, promise to pay
to the order of DALE A. TEAGUE, Blount Professional Building,
Knoxville, Tennessee, the swa of One Hundred Eighty-Eight Thousand
Dollars ($188,000.00), without interest, at or before thirty-six
(36) months from date, as follows:
This Note shall be due and pa able in installments in
accordance with either subparagraphs (a~ or (b) hereinafter de-
scribed, so that there will be not less than the sum of Ten Thou-
sand Dollars ($10,000.00) due and payablE each quarter:
(a) The sum of $600.00 out of the pro-
ceeds of each and every sale or contract of
~ ~ . sale hereafter made of each and every lot sold
. in the Recreational Campsite Subc~.ivi~ion as
shown and described on the plat entitled Holiday
. Out in America at St. Lucie, Inc. dated August
- 31, 195?, said plat being of record in Official
Record Book 167, Page 2235, Public Records of
St. Lucie County, Florida, or
(b) The sum o~ $10,000.00 each three (3)
mo..ths hereafter commencing on February 15, 1g68,
with successive quarterly payments in such amount
. each third month thereafter, it being understood
that ar~y payments made under subparagraph (a) 1
' above are to be credited on_said quarterly
instal].nients of $10,000.00 each.
i If not sooner paid the entire balance shall be due and
i payable thirty-six (36) months from date.
The maker agrees to promptly account each month for all
~ lot sales agreed or consummated by it during the month, such ac-
count being made to the payee at his Knoxville, Tennessee, office
no later than the fifth (5th) day of the following month. `
If any sum of money herein referred to be not promptly
paid within five (5) days next after the same becomes due or
~ should the maker fail to make such account for lot sales and agree
ments within the specified time and fail to pay over the stated
sum together witYi such account, at the option of the payee or his
assign the-entire balance then remaining unpaid shall forthwith
become due and payable, and should this Note be placed in the `
hands of an attorney for collection, the maker agrees to pay all
costs of col.lection, including a reasonable attorney fee.
This Note shall be deemed to ha.ve been made in Knoxville,
Tennessee, regardless of the order in which the signatures of the
maker or any endorser shall be affixed hereto, and it is further #
agreed that all actions or proceedings arising directly or in- ±
directly upon this Nate shall be based upon and sub~ect to the
law of Tennessee and may be litigated in courts having a situs
within the State of Tennessee and the maker and any endorser here-
of hereby consent to the ~urisdiction of any local, state or
federal court located with3n the State of Tennessee.
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