HomeMy WebLinkAbout1807 , ~
~ 1
~ 100,000.00 Miami, Florida. February 19~ , 1968
~ Fo. ~alue rece~ved the ..nde?signed joimiy ond severally prom~se to poy to the order of ~NALTER E. HEI,~R__
, ~ COMPANY OF FLORIDA _ ot its princ~pal oHice 900 N.W, 54_ St.~ Miami, .FlQridd____ , the '
principul cum of ONE H[II~IDREI? THOUSAND----- Dollar: (t 100 OQO.OQ= `
one-~hirtieth
together w~th interest from dote hereGf on unpoid printipol of the rate oflOf _One percent ( 1~30 Of ---1---q,,~
pe~ daY until maturity. '
The pr~nc~pol ond ~ntere~t due hereunder is payable on the dates ~nd in the omounts specified below, to-wit:
~
The entire principal sum, is due
and payable on November 1, 1968. Accrued interest
is payable monthly on the first day of each month ,
c~mc?encing April 1,1968.
;
'i In the event the prime nte charg~d ~y the ma~or 1`evc York baaks inereases, then In addillon lo a baslc rate ot~-9L1.8~ i
E makrr w~ll pa> I Y uf 1•~ per annum [or each incrrase ot 1: ~ of 1 ~ pec snnum of the primr nte. In the event the prtme nte sAall tAereattcr deerease, ~
mai,rr's intrrrst char~r shall decr~vse l:2 0[ 1:. per annum for each 1 ~ of 1'., per annum o[ rrducllon o[ the prlmt rate but l~ no evtal, however, j
~h~S: t~e interest rate cRarged hereunder be less than the basic nte set toriA above. -
Intrre.t Aereunder shall bt char`ed only on the sums ad~~anced from the date of ad~~ance to lAe date ot repa>ment and Interest from lhe date ot
rh„ nu~r tu the date uf advance is wa~ved. Interest herrunder, ft un an annual basis, shall De computed o~ the basis of a 36Pday year.
Thc m.rrrs, endorsers.~uaca+uws, sureties and all other parties Uable for the payment of any wm or sums due or to becomt due uoder the
t~rn~. ~.t thi~ nnte wah~e lAe riQht of exemptlon under the-1aWS ~sug ~LaLPr O1_~IOI~Y~ a~d ~a~aive presentment, protesl ~nd demsnd,
m~t~•r ~~f y~utr~t, demand and ot dlshonor and nonpayment ot this note, snd consent thal lhe owner hereo[ sAall ha~e the rl~ht, without notlee,
e~, dr;l ~n an} way .t anr time w•1th any party herctu, or to ~ranl any e:tmsion or e:tenslons of Nme [or payment ot sny of sald indebtedneu or anr
~~!h~ r ~nJul~~n~ rc ur forbrarances v~hatsoever, o[ may release aay of tAe security tor thls note ur Swranton of LAis note vsithout In any way aReeUe~ '
thr Gabil~tc uf any otAer party tor the D~~~ent o[ lh/s note.
E~ch maker and rnd~~rur further asrees~ ~olntlr and sevenlly, to D~Y costs of collecUon, Includfns a reswnable attorney's fee In case lhe
pnnr~pai u( th~~ nntr or am pa.ment on lhe prlnclpal or ~ny interest thereon Is nol pald at the respectlve maturtty thereot, or 1~ case It becomes nec-
.•,>.r~ t~~ yroh•rt thr ~rccu?ty herruf, ~rAether sull De Drou~ht or not. ~
Thc prmctpa!. nt an~ installment uf prinelpal, un)ess patd when due shall bear interest after rtuturfty at tAe nte ot 1:24.5 0( 1'~ per dar and ~nY ,
~nterr.t ya.~:~ent oniea. pa~d when due, shall bear interest at the nte o( 1;2{ S~~f 1', per day. t
"fhic m~t.• ~~•cured b. an> anA aO collatersl prexntly and hereatler held b~ the payee trom the mater and ~iven or a~reed to be `Iven lo lAt ~
pa.r. n. tAr makcr, p:us an> and alt collateral presentlr or hereatten c~ld b~ the D~>'K ~iven or a~reed to be ~Iren by any thtrd party or parHes [or
thr ben.•fi~ of the maker hereof This note Is to be constn~ed and entorced accoMing to the lavrs o[ the__ u~~L~ Ql~1SII~~- ~
t"y~~n drtault in the principal and'or Interest due hereunder or on any notes held by the payee hertunder and `fvea Dr lhe maker Aereof, all
ya>mrnts du~ hereurtdrr and un ~ll olher notes hNd by payee and ~Iven by maker hereof and remalnin~ unpaW, shall toriAwlth beeome due aod
pa~aDlr nutwithstandin~ thtir tenor.
If thr pa~ments ~~~e hercunder are In monthly lnstatlments wAlch tnclude prlncipal and interesl, then, In tAe event of a detsult of anr tnslal4
ment when dur rrsult~ng in the scceteration of aU unpafd fnstallments, il is ~~rced bet~?een the maker and the payee, or ftsihla aaal~ns, lhal tAe~^e shaU
then be due ont. thP princlpal sum ad~•snced smounlin~ to , to~(elAer wlth Interest (rom lAe datt o( sutl~
aAvance cumputrd al [hr nte of 1'2~.5 of I'o per day on the unpald prlnctpal balance, after allo~?ln~ credit for weh lnstallments thal were pald pr1o~
to such drfault
l'p.~n thc ~xcurrence as to any maket, endoratr or ~uarantor of anv of the followln/ evcnts: maklns o[ anr misrepresentatlon to tUt payte !or
. the purpnse o( obtaln~nF credlt or sn eitenslon ot ct~edlt; voluntary or Invo)untary applinUOn for, or appofnlment of, a reeeia•er, 811n~ of • volunlary
petitlon un~frr an> o( the Bankruptcy laws or amendment lhereto: Issuance ot a w•arranl of iflachm~nt or for distress or dlstraint, or of a notite
of ta: tlrn. ~ntry of a ~udgmrnt agalnst any of them or a~alnst lhe properly of any of Ihern; fallure to pay, wrtlhAold, eollect or remlt any ts= or tas
deficienc> when ac.c,.~•d ur dur, suspenslon or Ilqufd~tfon of usual buslness: falture, after demand. to (urnlsh bnanclal fnformation or lo pecmtt
inspecl~on of any Mw?~ ~~r rrcords: default fn the paymenl or peKormanee of lhla note or any oblfptlon to, or aeQulred In ~nY manntr by parte or Ib
a~si~ns, lhic n~~i~ and all other oblisations, direct or conlfn~ent. and reRardless of hoxever or vrhenever ~rqted, o( such maker or cnAor~er Aefeot
t~. pa>ee shall bce.~me due and payaDle Immedlattly at tAe opllon of the payee or Its sssl~ns wlthoul demsnd or notlce. F~eh maker and tndorser. In ~~r
I~tsKa~~~n ~wh th~r or arisin~ out of or relaUns to fMs note or such ot~~r ob1lRaUons~ fn whlch payee and any of them sAa11 be adverst pati{es,
wa~~rs trial ) r a thr rlght to Interpose any defense, set oR or eounterelalm of any nature ot descrlplion.
~..~v~.~.• - -
BURTON SMITH GROVES~INC.
a Florida Corporation
gY; s/s
F. BURTON SMITH~ PRES.
s/s
800K~~O PACE~HOZ By~ Y ~
Suzanne Ba er Secretary
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