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HomeMy WebLinkAbout2908 . S 87 , 500 . 00 PR0:17ISSORY NOTE Stuart Florida. . ~ Y September 12, 1973 t FOR Vt1LUE RECEIVED, the undersigned, jointly and severally, PROMISE TO PAY to the order of jVALTER PILOT and KATHRYN PILOT, his wife ---------Eighty-seven Thousand, Five Hundred and no/100----- DOLLARS at 2525 NE 37th Dr. Ft. Lauderdale, Fla. or such other place as the holder hereof may designate in writing, together ~vith interest from date at the rate of -7.0- $ per annum on the unpaid balance until maturity . The said principal and interest ' j shall be due and payable as follows: ; ' ~ In five (5) annual installments, the first of $11,500.00 plus interest due on September $ I2, I974, and payments of $I9,000.00 each plus interest on the lZth day of September, - ~ each year thereafter until the 12th day of September, 19?8, at which time the entire ~ ! balance of principal plus accrued interest shall be due and payable in full. g R.ight of prepayment in full at any time without penalty, or in part at any time sub- ~ sequent to Janusry 1, 1974, is expressly reserved. ~ g ~ There shall be no personal liability on the part of the makers in connection svith this ~ note and the mortgage which secures it, and the holders hereof agree to look solely ~ to the land encumbered by the purchase money mor.tgage executed simultaneously 3 ~ here~vith by the makers for their security . ; ~ - ~ . ~ ~ ~ . ~ If default be made for -30- days in the payment of any installment of principal z shall at holder's option beoome due and payable without notice. Failure to exercise ~ - such option shall not constitute a waiver of the right to exercise the same in the ; event of subsequent default . After maturity both principal and accrued interest ~ _ shall bear interest at -10- $ per annum until paid. The makers and endorsers ' of this note further waive demand, notice of non-payment and protest. If this note is not paid at maturity and the same is placed with an attorney for collection, the makers and endorsers hereof agree to pay all costs of collecrion, including all _ kti court costs and reasonable attorney fees . ~ ~ (SEAL) x~ Joseph D. Farish, Jr. ` ~ ~ : ~ ~ ~n ~ ~ ~ " L~~~`If BOOK~~~ P~Gf SEAL Ray C . Osborne ~ ~ - ~ f ~ ~ ~ ~ ~ . r~.~.~ ~..~~,.w _ .