HomeMy WebLinkAbout1432 , $2,545,656.00 Fort ~i~rce, Flor3rda May ~ ,1g70
~ For value recQived, ths undereigosd prQa`iee Ir.o pay t~o th~s order of '
L. W. 9CO1T a~d MASY F. St~01T, hia `rifs, Fost Pierce, Florida, tha ,
principal a~ o~ 1~W~ MILLI~N, FIVR HUNDRTD FOA?Y FIVS ~OUS~AND, SIX
HUNDRSD FIFTY SIX ANA NQ/100 ($2,545,656.00} DOLI.ARS, trith iat~~st
from July l, 1970, aC ~he raGs of 4~X p~r awx~aa ae thv vnpaid bal,rana~ :
until psid. Tt~ said principal and intsrest shall b~ pai~d at t~ FI&ST ;
NA?IQi~1i, DAI~iC O~F 1^OR? P~SRGB, Fort Pi~esce, Florida, oX at such ottwrr ~
placa aa the t'older may designata in vriting, aaid principal to be paid ~
at tt~ date and in the mauner f+olla~ing: ~ ~
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Inteze~t is alwsya pa yable in adveuce, ~rith firat pay~seat be~g d~e in =
the amount of $114,554.52, on or baEora Jeme 2S, 1970, snd a lik~ a~ount
on or bafore Julq 15, 1971, end a like ~mt an or before J u
ly 1 5, 1 9 7 2, ;
and on Julq 15, 1973, intereat in the amo~unt of $57,277.26 and a prin- . ~
cipal payment of $127,282,80, aad a principal payme~nt in t3~e like ~m~o~mt ~
on the same day every six (6) m~ntha ther~eafter, plus intere.t at the ;
; raze of 4~x per ~mrn~u oaa the uonpaid balaace payable in advanc~ for aacb =
; efx (6) maath period until the sntire principal a~d intez~at have Leea =
I paid. Paymenta to be applied first t~ inbereat a~d then to principal. ~
Privil,ege of prepayim~ent ~itl~o~ut penalt,y i~e h~reby givea. <
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Thia n~ote is being ejcecuted aa a part of the consideration for, and in
~ co~unction ~rf.tb, tha purcha8e of real estate a4d the a~cecution of a ~
~ arortgage thereon, which mortgage is inv~olv~d l~re^~rith. ~hs a~or~, :
gturantors and/or endoreora cav~ena=at and agtee m and adopt by reference
tt~ cavenants and canditions of aaid m~rtgag,e tt~ saos aa thaugh th4y
w~ra fully set out herein. .
If default be made in eay inatallnrent under this note and if any such
default ia not marci~ good withi~n 15 d+ay~ of tha dat~ of said def8ult, or
~rithin ten (10) daye after aotice of ~aid default mailad to Stxwart-Wade :
Florida Corp. , c/o Joass, Ad~ans, P+~ine b Foeter, l~tt~orcwya at Ls~t, 601 _
Flagler Drive Co~urt, ~ieat Pa~a~ Beach, Florids, yhichever date is latar, :
thea and in either ev~nt th~e ~tir~ principal suo and accr~Nd intArsst ~
shall at once become due and payable ~rithout nvtice at the option of the ?
~ holder of thie note. Failure to exerciae this option ahall not canstitutie ~
~ a Waiver of tt~e right to exercise the aamQ- in ~ event of anq subaequant
default. In tt~ svant of default in ttr payo~tt of thi~ twts 4ud i~ ~
~ same ia collected by aa attornay at lar, th~ ~rsigaed bas+oby ags~e to pay
~ all cost,~ of co~.lectian iacluding a reasonsbla attor~~'s fee.
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- STE~iART•f~DE FLORIDA CORP. , a Flatida
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