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MURTC;A(.~L•' :~07'E %
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$21,000.00 Orlaudo, Florida ~
August 24, 19?3 ! ;
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` FOR ~'ALU~ RECL•'IVED. the undersigned. jointly and severaily promise ~
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manner hei'einafter specified, the principal sum of TWI:N1'Y-O1~E TtiOUSAND i ;
DOLLARS ($21. 000 . 00) with interest frum date at the rate of eight per ce~tt (8 0) ~
per annum on the balance from time to time rPmaining unpaid . The said ~ `
principal and interest shall be payable in la~+~ful money of the United States of ~
America at Suite Z11, 3191 tlllaguire Boulevard, Orlando. I~,lorida 32803, or at ~ ~
such place as may hereafter be designated by written notice from the holder ~ ~
to the maker hereof; on-the date and in the manner foliowing: {
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Five (5) equal annual principal payments of S4 . ~00. 00 each,
together ~t~ith accrueci interest on the principal balar.ce
L from lime to time unpaid, with the first such annual Payment
~ due one year from the date hereof, and annually thereafter
on the anniversary date of this note.
i~ This note v~~ith interest is secured by three (3) mortgage on real estate.
of even date herewith, made by the makers in favor of the said payees, covering ~
--rea~propert~-}eea~ed-i~--A'l~iou-~ ~GCPOIa and St I ucie Counties, Florida, and i
d shall be consirued and enforced according to ihe la•xs of the State of Florida .
`'The terms of said mortgages are by this refei-ence made a part hereof.
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Z This note may be prepaid in whole or in part at any time, without '
; penalty .
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F In the event the Osceola County property aforesaid is sold . the makers
~ sliall pay to the holdei•s hereof at the time of said sa1e, the principal sum of
Z$6, 500.00 together ~vith accrued interest, and the remaining annual installments
~ shall be proportionately reduced by dividing the then remaining unpaid principal
~ balance by the number of annual instaliments remainit~g, to produce the new
o annual installment principal payment.
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o In the event the St. Lucie County pro~erty aforesaid is sold, the makers
shali pay to the holders hereof at the tinie of said sale, the principal stim of
j~~, 000. 00 together with accrt~ed inisres±, and the remaining annual installments
; ~ shall be proportionately reduced by dividing the then remaining unpaid principal
balance by the number of annual installments remaining, to produce the new ;
; annual instaliment principal payment. -
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E If default be made for thirty (30) days in the payment of any of the sums
or interest menfioned herein or in said mortgages. or in the performance of any
; of the agreements contained herein or in said mortgages, then the entire principal
sum and accrued interest shall at the option of the holders hereof beeome at
~ on..e due and coilectible «~ithout notice, time being of the essenee; and said '
principal sum and accrued interest sha11 both bear inieresi fror.~ 5uch iin~e w~lil j
~ paid at the highest rate allowable under the lativs of the State of Florida. Failure
; ~ to exercise this option shall not constitute a waiver of the right to exercise the
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sarc,e in lhe evetit of any subseyizent d~fautt. - .
' Each person liable hereon v~•hether maker or eiidorse2• hereby waives ~
~ presentment. protest, n~tice, notice of ~rotest ac~d notice vf dishonor and - ~
i a~rees to pay all costs, includin~ a reasonahle attorney's fee. whether suit be ,
~ brought or not, if, after maturity of this note or default hereunder, oi- under ~
#~aid mortgages, counsel shall be employed to collect this note or to protect the !
~ ~ security of said mortgages . ~ ~
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~ /s/ John C . Beebe (SEAL) ~
John C . Beebe ~
£ ORIf t1Y~; 1qU'i
` ~ ~°i' ~""11° /s/ Lillian M. Beebe
q (SEAL) ~
_ ,-e n,n s~ _ M~T s ~ n'y e,2 , c , c . . ~
~.U 3c,,,, Lillian M. Beebe ~
` OR Q
~ 1i ~r~~i..~ ~~'~~~c~~J i~'i.C- d00K~~V PACF~O~ ~
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