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~ Fort Pierce, Florida f
$2,950,000.00 NOTB June lst, 1970 ~
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AFTER DATE, for value received, the undersiqned promises to ~
pay to the order of W. D. SHA,RRETT, as to an undivided 3/lOths #
interest, to MARY E. SHARRETT, his wife, as to an undivided 3/lOths i
interest, to RALPH L. SHARRETT, as to an undivided 2/lOths interest, ?
and to RUTH SHARRETT GLLN, as to an undivided 2/lOths interest,
the principal sum of TWO MILLION NINE HUNDRED FIFTY THOUSAND AND
NO/100 ($2,950,000.00) DOLLARS, which shall be paid in installments
of principal, toqether with interest at the rate ot 6i per annuta
on the unpaid balance remaining from time to time unpaid. The ~
first installment of $500,000.00 on principal, toqether with interest ~
on the full unpaid balance, shall be due and payable on the 20th '
day of November, 1970; The second installment of $250,000.00 on !
principal, toqether-with interest on the full unpaid balance, shall ~
be due and payable on January 2, 1971; The third installment of
$500,000.00 on principal, toqether with interest on the full un-
. paid balance, shall be due and payable on the 20th day of March,
1971f The fourth installment of $500,000.00 on principal, toqether
with interest on the unpaid balance, shall be due and payable on
the 20th day of August, A. D. 1971; The fifth installment of
$500,000.00 on principal, together with interest on the unpaid bal- :
aace, shall be due and payable on the 20th day of March, A. D. ~
1972; The sixth installment of $500,000.00 on principal, toqether ~
with interest on the unpaid balance, shall be due and payable on
the 20th day of August, A. D. 19'72; The seventh installment of '
$200,000.00, together with interest on the unpaid balance, shall
be due and payable on the 20th da of March, A. D. 1973; Pa ents ~
herein referred to shall be payable at such place or placesyas the t
payees or holders of this note may desiqnate in writing from time ?
~ to time. ~ `
The.failure of the maker or any other person now ot hereafter ;
liable for the paymeat of the within note to pay any installment ;
of principal as and when it becomes due, with such failure con- t
tinuinq uncured for twenty (20) days, will confer upon the payees
or holders of this note, then or thereafter while the said failure
_ continues uncured, the privilege of accelerating and callinq due
the entire balance of principal evidenced hereby.
This note shall be considered in default when any payment of
principal required to be made hereunder shall not be paid within
twenty (20) days after such principal payment becomes due and pay-
able hereunder. While this note is in default it shall bear interest ~
at the rate of 68 per annum on the unpaid balance until fully paid.
This note is secured by a mo=tqage executed on this date by
the maker hereof, as Mortgaqor, unto the payees hereof, as Mort-
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qaqees, encumbering property in St. Lucie County, Florida; and all ;
persons to whom these presents may come are referred to said mort-
qage where it appears amonq the public records of St. Lucie County,
Florida, for the effect upon this note of those portions of said
mortqaqe which refer to and contain provisions relievinq the maker
of this note from any personal liability for the payment of this f
note; and the payees, by the acceptance of this note, do hereby :
covenant and aqree with the maker that the payees or holders of ;
this note, from time to time, shall never in~stitute any proceedings
or actions to enforce personal liability against the maker for the
payment af this note, but the payees or holders.of this note may
have such rights as are provided for in said mortqage.
The payees he=ein, who are the mortqagees named in the purchase
money mortqage qiven to secure this indebtedness, have this day ~
made, e3:ecuted and delivered to St. Lucie Abstract & Title Insurance
Co., a Florida corporation of Ft. Pierce, Florida, as escrow aqent,
the partial releases of mortqage and satisfaction of mortgage re-
quired to be delivered to the mortqaqor or its successor in interest
as payments required under this note are made. St. Lucie Abstract
i Title Insurance Co., a Florida corporation of Ft. Pierce, Florida, s
as escrow aqent, shall hold said partial releases of mortqaqe and ;
satisfaction of mortqaqe for the use and benefit of General Develop- ~
i -2 0 R
! BOOK 184 PA6E~69~
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