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$I"IS,il~tl.r1 i PittSburqh, r-enn~ytv~3r.ia N~~,r~~m~~cr l'" ~
h'~1t< VAI.t?h' Ich:~~ lVh'1, l I~~~ ~u?•1vi:. l~.l~lcs.l ~~mi:~~::s 1 u ~~:~y t~,~ 1 I~~~ ~?r~l~,~•
R~~YAL ESTATES ASSOCIATE3, a Florida gencral ~dr~tl@CStlt~~
the principal sum of SEVEN HUNDRED SEVENTY FIVE THO`JSAND AN~ NO,/100 DOLLARS
together with interest thereon at the rate of seven (796) per ceat per annum
from date hereof (closing date) until maturity, both principal and interest
b~ing payable in Lawful Money of the United States, such princioal and
interest payable in insta2lments as follows: .
int~rest aa~r ~z the princ~Ya~ ~.~no~ant of ~750,ODQ,40, shall be due and
payable in qua~.terly installments of 796, or $13,125.00, commencing three ;
months from the date hereof and continuinq quarterly for eight oayments of '
interest•only. The principal amount of $750,000.00, shall be due and payable '
in twenty (20) equal quarterly installments of $37,500.00, plus interest of
seven (7961 per cent per annum on the unpaid principal balance, com~nencing
tw~ years and three months fram the date hereof, and continuing quarterly
until paid in full.
The remaining principal balance of $25,Oa0.00, shall be ~ue and payable
seven years an~ three months after the date hereof, and no interest shall
a~crue to that payment during the term ot this note.
~
Prepayment shall be permitted in whole or in part anytime after July 1, 1974,
with ten days prior written notice, with interest to the date of prepayment.
nayable at S•~ite 100~, 485 biadison Ave., New York City, New York 10022.
Such installment payments shall be ap~lied first to the interest accruing
under the terms of this note and then to a reduction of the principal
inde5tedness.
jne makers and endorsers of this r~v~e further agree t~ ~aaivs 3e~?and, n~t~ce
~f non-payment and protest, and in the event suit shall be brought for the
collection hereof, or the same has to be collected upon demand of any attorney,
to pay reasonable attorney's fees for making such collection. All payments
~ hereun3er shall bear interest at the rate of seven (796) per cent per aanum
4 fro:n maturity until paid. This note is secured by a first mortgage of even
~
date herewith and is to be construed and enforced according to the laws of
~ the State of Florida; upon default in the payment of principal and/or interest
~
~ when die, the wnole sum of principal and interest remaining unnaid shall, at
~ the o~tion af the holders, become immediately due and payable. Failure to
~ ~xercise this oQtion shall not constitute a waiver of the right to exercise
¢ the same in the event of subsequent default. .
~ ' , . ' ~ ' ' J ( % n
R_ ~ _
~ . ' ~c c"c ?c L ~ - ~ ~ 1~LL.~!~ l ~t - ~ ~ ~ ' ~ ~ ~ -
R. Marshall Brown '~Gretchen F. Brown .
i.: , ~ ~ ` _l L_ ~iC.C~cz.ru~s,r~Et~ ~ ,t -r j'
Tno-:~~- IIrown Susanna G. Brown
- - ~ _ ~ ` -a~. ' - { `~4 ~ 6 ~1.~- / r/~ - C~ ~ l '
E. ~realish ~ Margare A. Gre~lish
~ ~
~ ~nes W. Hart ^ o nne Hart
~ ~,.,j ' . . - : i c . ~C'~'~ r<< - . . i ~ ~ ~M~ •
~ Francis A. Astorino Mildred S. Astorino
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No~ 13 9 24 AH'73
~ ~ EXHIBIT "A"
ri~:~ ; . 269042
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~~s s~K22~ P~ 524 . ' _