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- EXHIBIT "B"
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COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH ~
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M ORTGAGE NOTE
Riviera Beach, Florida
a 130,000.00 ' January ~ 1973
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~ ON OR BEFORE eighteen MONTHS AFTER DATE, for value
received, the undersigned jointly and severally promise to pay to the order of
COMMUTIITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEAC~-:,
at the office of said Association in Ri viera Beach, Florida, the sum of ONE
HUNDRED THIRTY THOUSAND AND NO/100--------------------- DOLLARS ~
1 0,000.00 together with intefest as hereinafter stated, from date hereui ~
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until full~g~id. - Interest shall be paid in~nnuag installments, and the first ~
such ~nnuagr+ payment shall be due on the loth day of June , 1973 ,
and subsequent payments shall~be due on the lOth day a= the month of each
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period thereof, until all sums secured by this note and the mortgage securing this
note have been fully paid. Prepaynnents on the principal sum due may be made at
any time.
Payments made on the indebtedness secured by this note shall be
applied first to repayment of monies paid by COMMUIVITY FEDERAL SAVINGS AND ~
LOAN ASSOCIATION' OF RIVIERA BEACH in accordance ~vith the terms of the mort-
gage securing this note, and thereafter shall be applied to payment of accrued interest,
and lastly to the payment of principal.
one-
Interest on unpaid balances shall be computed at the rate of . eiqht& half
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percent ( 8~ per annui~~. Interest for each calendar month shall be accrued on '
the first day of said month and be computed on the unpaid balance of principal and_
:nterest existing on the last day of the preceding month. This note shall be considered ,
in default when any payment required to be made hereunder shall not have been made
on its due date, and shall remain in default until said payment has b~een made. While
in default, this note shail bear interest at the rate of ten percent ( 10 '
, per annurn in lieu of the rate hereinbefore specified.
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All persons no~~v or hereafter becoming parties hereto severally waive
derra nd, notice of non-payment and protest and jointly and severally agree that in the
• event of default in the payment of any interest due hereunder for a period of thirty
(30) days, the whole of said indebtedness shall thereupon at tl-.e option of the holder ~
become immediately due arxi payable, and if this note becomes in default and is ~
'placed in the hands of an attorney for collection, to pay reasonable attorneys= fees and .
~ all othex costs for making such collection thereof. • _
S/Geo~ge Apostolo oulos (Seal) BEACH CLUB COLONY OF STUART, INC.
George Apostolopoulos,
~ Individually By:S/ Georqe Apostolo~oulos
George Apostolopoulos,•President
~ ~Catherine L.Ap~stolopoulos (Seal) ~ .
Catherine L.Apostolopoulos,
Zndividually (Corp. Seal)
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