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' L•141 809-10•03-MIA
NOTE
tGitr and Sty~~ •
~
=_4QaQ00:00 (Daie) ~ ,1g.,,22___
Fot value receired, the uudersi~cd promiaes to pay to the order ot BANK OF STUART
~ . ' • . '
. (P~ree) . ,
u its of(ice iu tLe oiq dt Stu8Yt , State of _ Florida ~
or ~t 6oldet's optio~, at aoch othe~ piace as may be desi~ated irom tiene to time Iry the holdec FORTY 'CIIOUSAND AND
K01100-----•---------•--------------------•--------------------------------- doll~rs,
(write oot amoant)
wit6 isterest'o~ aapaid pcincipal eompnted trom thc date oi each advanee to t6e anderai~ned at the rate ot 8 peceeat
per aauum. paymeut to be made in inatallments rs (ollows:
Installments, including principal aud interest, each in the amount of ~
$S11.00, payable aaonthly, beginning one ~(1) month•from date, each said
installment to be first applied to interest accrued to_the date of
receipt of said installment, and the balance, if any, to principal, ~nd
the balance of principal and interest payable on or before five (5) years fran
date.
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P~~~ t oi anr iaat411mmt o( ptiacipal or interest o~ring oo t6ia Note msy be made prior to t6e matoritp date theteof without
71~e terau x'~ndebtedna~s" as uaed herein shall mean the indebtednesa evidenced br t6is Note. inclading principal, iaterest.
end e:peasea. wLe~hei cantingent. uo~v dae or 6ereattcr to become dne and ~rhethet 6eretotore or contemporaneonsly 6ercwit6 or
herea[ter ooatracted: '[be term "Collateral" as osed in this Note shall maan ear fanda. ,goareatiea. or otLer propeny ot ri~hts
therein of aay aature w6rtsoeve~ or tbeproceeds thereof w6ich may 6ave been. are, or hereatter map be, hypothecated. directly or
indi~ectlp 6y the asdusiped or others. in connection with, or aw secaritr (or, !6e Indebtedneas oraar part thereof. Zhe Collater-
al, and eacb part thercot. s6a11 secare t6e Indebtedness and each paft tkereot. 'Ibe cavenants and coaditiona s6t torth or refetred •
to in aer and all instrnmeats of 6ypo~hecatioo constitating Ihe Coliaterel are herelry incotporated in this Nota as oo~eaaqts and
conditiona of the.nndetsi~ed with ~he same (orce aad et(ect as t6ougb aach covenents and cooditiona were fally set tott6 herein.
'11e lndebtedness shall immedistely become dne and payeble. rvit6oat notice or demend, npon tAe appoiatmeat ot ~~rM!s'_yi~r ~r
~^-?'~A~!~ ~~C~w:: L:::wiiT" vF ia~oiWli ;O[ [~C t1~~tf81 ed or for aa O~ jl8 t'O E~ Of O ~ I~IE ~1~10 O~ f l~ll0~ Ot '
~ ~r. ~ r p P h. ~ s ~ br
against the nudersi~ad ander t6e proviaions ot anr State enaol~ency law or ander tLe provisioas of the B~nkmptcp Aet of 1898.
as umended, or apon t6e a~akia6 b~r the andersiped ot ~ assipment [or thc beneCt of ita creditora. Holder is antLotised to de-
clare oll or any part oi tbe Indebtedness immediately dne and paywble opoe the 6appening o[ ~ny oI ~he follo~ring eveata:
(11 Failnre to pa~r aa~r p~d ot t6e Indebtedoess wheu due; (2) nonperfomaace b~r t6e nnderaigoed of anr aareement witb, or mr ooa- .
diiiou isposed Iry. Holdet or Small Businesa Admiaistration (6eceinatter called "SBA"), ot either of tLan, witt~ cespeet w the in-
debtedaess; Holder's diacovery of t6e andersigped's tailnre in asy applicstion ot the oadersi~ncd w Holder or SHA W disclose
any [act deemed bp Holdet to be materia) or of t6e matiag therein or ia aar ot the aaid a~edneats. or ia oar atfidavit or ot6er doc-
umentssa6mitted in conaection ~ritk aaid epplication or the iadebtedaeas, of any miarepreaentatioa bp. oo be~~if of. or for the beae-
fit of the eadewl~p ed; (4) t6e reorganixatton (ot6er then ~ reorganizatios parooant to any o( the pmvieioos oI t~e Bank~aQtcp Act of
1898, os a~eaded) or merger or cone~olidation ol the undersi~ued (or t6e makiag ot any a6reeaeat t6eroior) MritLoat.tie pnor writtea
conseat o(Holder; t~e o~derai~?ed's tailare doly to acconnt, w$older's aatisfaction. et sad? time ot times as $older m:y ro-
quire. (or a~r o( t6e Collatet~l, o~ proceeds t6eteof, comiag into the contwl of tLe andersi~ed; or (6) the iastitatioa oi asr enit
aifecting the aade~aigped deaaed bJr $older w affect adverselr its interest herenndet in t6e Collateral orotberwiee. Holder's fail-
ure to eYercise ita rig~ta nader this paragraph s6a11 notconstitnte a~raiver tLereot. '
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S6A FORM 14? i6-7t1 IiEF: N~ 81W1 PREVIOUS =OITIONf AND S~A f011MS 1N, ~~A. 5~0 AND 590A ARE 0650LETE
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