HomeMy WebLinkAbout1469 sis,ooo.~o _ , la•,a
Ft)R VALUE RECF.IVED the undersigned, joint2y ~nd severally
hereinafter called the ASaker ~romise to pay to th~ order o~ t=~LD CQAST
GIPITAL CORP., a F2orida corporation, hereinafter called C~LD CnAST
at its offices at 1451 North I3ayshore Drive, ~liami, Flori.da thQ
pri~nci~al sum of FIFTEEN THOVSAND 1?NO r~0/100 ($15,400.00) i)c)LLARS,
with interest at the rate of ten (108) ner ccnt per r~nnun. Interest
only shall be payable for the !`irst year ending the 13th day of
February, 1975. Thereai`ter, Principal and Interest shall be payahZe
:nontl~ly in equal installmenta of S 318.72
until five ~~hars from date, at whtc t me
the ent re ~a ance o
hrinci~al and accrued interest shall be payable.
This note may be prepaid st any time in whnle or in part
~?ithout penAlt~?.
Thi9 note is secured hy a~!ortq~ge of even d~te herewith
and is to be construed and enforced accordincr to the laws of the
State of Florida. ttpon default of nrincipal Rnd/or interest c~ue
_ on any note secured by said *lortga_qe, ~11 notes so secured and
remainfnq unpafd shall forthwith ~ecom~ due and oayable notwith-
standfnc~ their tenor. Said !~ortgage encwhbers
. This note and defPrred interest oayments shall bear
interest at the rate of Fifteen (15$) ner cent ner annur~ fro~?.
~aturity until pai~.
ho indiv3c~ua1 endorspr hereunder shall hr_ • liaY~l~ fc?r
any interest in excess of the naxir.:ur.t leqal rate of interest charaeahle
to inc?ivictuals under the laws of the Stat~ of Flori~a.
T.dditions to, re~uctiona or er.char.c?es of, or suhstitutir.ns
~o~ the Collateral, payr.~ent on account of this Ioan or increases
af. Li~~ sar;e, or other Ioans rtade partialZv or whol2y tiaon ttie
Callateral, r:ay from tfine to tir.±e be :~ac~P wi.thout aff.ectir,cr the
provisions of this note. GOLt? L'OA~?' shall exerci9e reASOnAhle
care in the custody and nreservation of the Collateral to ~he
nxtent required 1~y anp2icahle str~tute and sh~ll he c~eerter? to h~vP
eYPrcisecl reasonarle care, :nd no o~rission ~o corsnlv ~~ith any
reauest of uaker ~hall of itself be deer.±e~ a failure to exercfse
reasc+nable care . GOL~ COAST shn2?. not be bounc3 to take anv ste~s
necessary to nreserve any riRhts in the Collateral aqr~fnst T?rtor
nartfes, And Maker shall take all necessary ste~s for such nurvos~s.
Ut~on t:~e happening of nny of the following events , each
of which shall constitute a deFau2t hereunc~Pr, a21 liahilities
of. each ~saker to GOLD COAST shall thereuron or. thereaftQr, at
the option of GnLD COAST without notice or derand, ~car~e duE
; and payable: (a) failure of anv nbligor (which term shall me~n
and inc~ude each ~"a}:er, endorser, surety anc~ a.varantor of this
note) to perform any aqreerrtent hereunder, to pay interest 1:ereon
; within ten da_ys after it is hi22ed or otherwlse re!TUested or demanded,
or to pay any other 2tabilitY whataoever to c30LD COAST when c~ue;
{?~y ttie filinq of any netition undpr the gankruntcy Act, or ar~y
si^~f.lar f~deral or state statute, by or a~r~inst anv Obli-;or;
(cy an anplication for the appointTMent of a receiver for the makina
of a general as~iqnment for tha benefit of creditors hy, or the
insolvency of any Obliqor; (d) the t~king of nossession ~nf any
substantial part of the property of ~ny Obliaor, collateraZfzed
Ly this loan, at the instance of ~+ny governmental autharity;
(e) the dissalution, merger, consolfdation or rPOrqan~.2ation of
any Obligor; (f) the asaignment hy any Maker of ~tny ecntity ir.
a~y of the Collateral with~ut the written consent of ~~Ln COA~T.
~OLD COA.ST shall havc the riaht to cause an aut'_it to
`~e ~aade of the ~oo1~s and r~cords of. PINES Tn PAL"1~ n'r'VT'LCPT'I~S, I':C. ,
" ? ~24 F~~,~E ~.468 -
MAROID p. KRAVtTZ, AITORN@Y AT I.AW, 264 EA8T FIFTH BTREET, HIALEAH. FIORIDA 33010
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