HomeMy WebLinkAbout1568 . ~
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of all encumbrances except taxes accruing subsequent to December 31,
1969, zoning regulations in force and effect, restrictions, reservations,
easernents and rights of way of record.
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PROVIDED ALWAYS, that if said mortgagors shall pay unto said =
mortgagees the certain promissory note hereinafter substantially copied
or identified, to-wit: ;
PROMISSORY NOTE
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. , $259, 050. 00 Stuart, Florida
. January 28, 1970
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FOR VALUE RECEIVED, the undersigned, jointly and severally, promise
to pay to the order of GENE T. DYER and EVELYN M. DYER, his wife, the sum
of TWO HUNDRED FIFTY-IVINE THOUSAND FIFTY AND NO/100 DOLLARS
($259, 050. 00), at 1050 North Lake Way, Palm Beach, Florida, with interest
thereon at the rate of seven per cent (7%) per annum on the unpaid principal bal-
ance payable annually. Principal payments shall be in five (5) annual installments ~
as follows: t
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$35, 325. 00 payable one year from date, to-wit: January 28, 1971; '
$35,325. 00 payable two years from date, to-wit: January 28, 1972; i
$35, 325. 00 payable three years from date, to-wit: January 28, 1973;
$35, 325. 00 payable four years from date, to-wit: January 28, 1974;
$117, 750. 00 payable five years from date, to-wit: Januac y 28, 1975.
This note may be prepaid in whole at any time without penalty, and may
~ be prepaid in part at any time, except that prepayments in part during 1970 may
not total more than 29°10 of the purchase price.
If any of said installments of principal and interest be not paid within thirty
(30) days after same shall become due and payable, as herein provided, then the
~ entire unpaid balance of the principal, together with accrued interest, shall becvme
due and payable forthwith, or thereafter at the option of the holder of this note.
Failure to exercise this option shall not constitute a waiver of the right to exercise
same in the event of any subsequent default.
The makers and endorsers of this note agree to waive notice of non-payment,
protest and demand for payments, and in case suit shall be brought for collection ~
hereof, or the same shall be collected upon demand of an attorney, to pay all ex-
pense of such collection including reasonable attorney's fees thereon.
THIS NOTE IS SECURED BY A PURCHASE MONEY MORTGAGE OF EVEN
DATE EXECUTED BY THE MAKERS IN FAVOR OF GENE T. DYER AND EVELYN
~ M. DYER, HIS WIFE. SAID PURCHASE MONEY MOftTGAG E AND THE PROPERTY
DESCRIBED THEREIN SHALL BE THE SOLE SECURITY FOR THIS NOTE AND NO
PERSONAL L~ABILITY SHALL BE INCURRED BY THE MAKERS OF THIS NOTE.
~ , S'~ (SEA L) S~ (SEA L)
MES R. HUTCHINGS WOODROW KANTNER , ~
S' (SEAL) ~
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HEL N S. HUTCHINGS ~
Page 3
~ BOOK 1~~ PAGE~.e~bs
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