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HomeMy WebLinkAbout2560 . • ' ' NOTE DATED: March 19, 1969 AT: Fort Pierce, Florida _ FOR VALUE RECEIVED, the undersigaed promises to pay to the • order of Fort Pierce Airways, Iac. , a Florida corporation, at St. Lucie County Bank, Fort Pierce, Florida, or at such other place as the holder hereof may from time to time design3te in writing, the principal sum of THREE HUNDRED THIRTY-SEVEN THOUSAND, FIVE HLTNDRED and NO/100 DOLLARS ($337, 500. 00) with interest thereon from DATE on the ;~nresaid principal sum at the rate of SIs~ PER CENT (6%) per annum on the unpaid principal balance, to be paid in lawful money of the United States u: America as follows: (a) Principal installment of $56, 250. 00 shall be due and payable one (1) year from date. _ (b) Ten (10) subsequent principal installments in the amount of ~28,125. 00 each shall be due and payable semi-annually ' commencing eighteen (18) months from date and continuing semi-annually until paid. (c) Interest shall be due and payable semi-annually com- mencing six (6) months from date and shall be in additioa to the pr~ncipal payments. The uadersigned shall have the right to prepay the whole or any part hereof at any time without penalty provided, however, the undersigned shall I ~ not have the right to make any prepayment prior to Jaauary 1,_ 19?0, and prior to that date, Fort Pierce Airways, Inc. shall not be obligated to accept aqy payment which, together with anaounts paid at the tiume of closing the purchase of that certain real estate mentioned below, would exceed twenty-ni.ne per cent (29%) of the purchase price of aaid real estate. Any prepayments shall firat be applied to interest accrued to the date thereof and then to the aext maturing installmenr of principal. ~ ~ If default be made in the payment of any of said installments, or any part thereof, on any day whereon the same is made payable, as above expressed, ~ ~ t and shauld the eame or aay part thereof remain unpaid for a period of 30 days, ~ ~i?~ ~2557 ~ . _ j - - - ~ - ~ : _ - _ ~F~,`~:"f; 3~ ~Y~'C, . y ~ ~~="~-n'~~5..""