HomeMy WebLinkAbout2659 PROMISSORY NOTE
s120,000.00 Winter Par{c, Florida ~
- Septembe~ 18, 1973
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FOR VALUE RECEIVED, the undersigned WALTER A. DUN, JR. AND BARBARA A. DUN
promise to pay to the order of W. A. GREGORY, in the manne~ hereinafter specified, the
principal sum of ONE HUNDRED TWENTY THOUSAND AND NO/100 DOLtARS (~120,000.00),
in lowful money of the United States, together with inte~est from date at the ~ate of eight (896)
percent per annum on the balance f~om time to time ~emaining unpoid. The said principal and
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--ir?~erest shall be payabls at-tha CIOtS~'ERS, --100_South-lntei(achen Avenue,_VKtnter_Pa
Flo~ida, or at such place as holder may hereafter designcte in writing to the maken hereof, on ~
the dates and in the manner following:
On JANUARY 5, 1974, there shall be due and payable the accrued interest
f~om date hereof, amounting to s2,866.70.
On JANUARY 5, 1975, cccrued interest in amount of ~9,600.00 shall be due
and payable, with a(ike amount due on the 5th day of JANUARY, 1976, and
the 5th day of JANUARY, 1977.
On JANUARY 5, 1978, there shal I be due cnd payable the amount of a7,068.82
principal plus cccrued interest, and the amount of ~7,068.82 principal plus
accrued interest on the 5th day of JANUARY each year thereafter until th~ 5th
day of JANUARY, 1994, on which date the balance of principal plus cccrued
interest shall be paid. Interest shall be paid on the unpaid principal balance
due as of each payment date.
There sholl be no prepayment privilege during the balance of the year of 1973. If the
Mortgagors herein desire to pay the principal of this note in full or in part any time after
JANUARY 5, 1974, and~PRIOR to JANUARY 5, 1978, they may do so upon payment of a
three pe~cent (3%) penalty on the amount prepaid on this note. AFTER JANUARY 5, 1978,
this note may be prepaid, in whole or in part, at any tirc~~, without penalty. Any prepayment
made shcl) carry accrued interest to date af such prepcyyment. The annuat payments specified -
shall continue until the entire principal plus accrued interest shall be paid in full. i
The Mortgagee herein agrees that the Mortgagors shall not be personally liable fo~ the
indebtedness evidenced by this promissory note and the Purchase Money Mortgage of even ~
date in origirwl amount of ~120,000.00 plus interest, and Mortgagee shall loo{c on{y to the ~
' property described in the Mortgage at the time of any default, for ful I payment and discharge :
~ of said indebtedness. `
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~ This note, with interest, is secured by a Purchase Money Mortgage of even date, on ~
~ certain real estote, and the terms of said mortgage are by this reference, mcde a part hereof. ;
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` If default be made in the payment of any of the sums or interest mentioned herein or ~
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~ in said mortgage, or in the perFormance of any of the agreements contoined he~ein or in said
~ mortgage, then the entire principal sum and accrved interest shall, at the option of the holder
~ soid principcyl wm and accrved interest shall both bear interest from such time until paid at the
~ highest rate allowable under the laws of the State of Florida. Failure to exe~cise this option
~ shall not constitute o waive~ of the right to exercise the same in the event of any subsequent =
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~ default. ' `
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~ The makers hereby waive presentment, protest, notice, notice of protest, ond notice
$ of dishonor and agree to pay all costs, including o reaso?wble attorney's fee, whe'rher su' be ,
brought or not, if, after maturity of this note or default hereunder, counsel shall be emp~oyed ~
; to collect this note. ~
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y= 7he undersigned waive presentment ror poyment, protest and notice of protest and- ~
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~ non-payment of this Note. „ ~
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F1LED ANp nECORDEO ±
~:5 ST.IUCIE CCl1NTY FLA. ~ /s/Wa~er A. Dun, Jr. (SEq~~
R~~F,~ ~~tTRAS 1 _`c. .
~r C~ Ft.i. 1_', ~t+1T ~Q~QT .~~Q~ Walter A. Dun, J~.
ri~ ccr^.r~ - _ t
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~ SEP 1~ 1 54 H'73 /s/Barbara A. Dun _ (SEAL)
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