HomeMy WebLinkAbout2131 Form CX 750408 ~
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Installaient Note Date : ~il 1~. ~,f~r,.._,~
For Valua Received, the uaderaigned promises to pay ~a the order of General
Developmant Corporation, a Delawara corporation authoriaed to transact businesa
ia the State of Florida, the principal sum of ~A ~iN M~
• • • + • • Dollars ~,l00•00 ) together vith iaterest oa the
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uapaid balance of said principal remaining from time to time at the rate of
_,~lt t~ percent per ~oNR~ . Payments an principal plus accrued
intereat shall be made in equal manthly installments of ~~¦'!~O aM !4/!AO
• ~ • + • • Dollars ~'.!4 ) commencing aa the lOtb day of
19,~, and a like,sum on the lOth day of each calendar moatb thereafter until
fully paid. Said installmenta ahall be payable iu lawful currency of the
United Stat~a of Ameriea or its equivalent at: 2828 Coral Way, Miami Florida.
Paymente of inatallments shall be credited firat to accrued intereat and the
remainder to reduction of principal.
This indebtedness may be prepaid in whole or in part at any time prior to
maturity vithout premium or penalty.
Bach maker and endorser severally waives demand, protest and notice of
maturity, non-payment or protest and all requirements necessary to hold each
of them liable as makers and endorsere.
8ach maker and endoraer further agreea, jointly and severally, to pay all
costs of collectiaa, including a reasonable attorney's fee in case the principal
of this note or any payment on the principal or any interest thereon is not paid
at the respective aoaturity thereof, or in case it becomes necessary to protect
the eecurity hereof, whether suit be brought or not.
ZUis note and deferred intereat payments shall bear interest at the maximum
rate prescribed by the laws of the State of Florida frc+m maturity uatil paid.
lhis note is secured by a purchase money mortgage of even date herewith and
is to be construed and enforced according to the laws of the State of Florida;
upon default in the payment of principal and/or interest due oa thia note
secured by said Mortgage, the remaining unpaid balance of this note ahall
forthwith become due and payable notwithstand~ng its tenor.
~ /A/ Sf~t ~ ~S~)
~ (SEAL)
and shall perform, cong~~y ~rith and abide by each and every the stipula-
tions, agreements, conditions and cov~enants of said promissory note arid
of this deed, then this deed and the estate hereby created shall cease
and be null and void.
AND the said Mortgagors~ for themselves and their heirs, legal represen- .
,
tativ~es azxi assigns, hereby covenant and agree:
i
~ l. To pa~ all and singular the principal and interest and other
~ sums of money pa~able by virtue of said pro~nissory note and this deed,
~ or either, promptl~r on the days respectively the same severally become
r due.
~ 2. To p~r all and singular the taxes, assessments, levies, lia-
bilities, obligations, and encumb~rances of every nature on said des-
cribed property, each and every, and if the same be not promptly paid ~
the said Mortgagee, its successors, legal representatitres or assigns, ;
ma~ at at~ time pa~ the same without saaiving or affecting the option to ;
foreclose or at~ right hereunder, and every payment so made shall bear '
interest from the date hereoY at the max3Jmim rate provided by the laws '
of the State of Florida.
- 3. To pa~t all and singular the costs, charges and expenses, in-
~ cluding laxyer~s ~ees, reasonably incurred or paid at ar~y time by said
~ Mortgagee, its successors, legal representatives or assigns, because
~ of the failure on the part oY the said Mortgagora, their heirs, legal
~ re~presentatives or assigns to perform, co~ly xith and abide by each
~ and every the stipulations, agreements, conditions ar~d covenants of
~ safd pro~aissory note and this deed, or~ either, and every such payment
sha11 bear interest from date at the maaimum rate prc>vided by the laxs
~ of the State of Florida.
~ 1~ To permit, crnmdt or suffer no iraste, impairment or deterior- ;
ation of said property or ar~r part thereof.
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600K~7~ PACE~
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