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HomeMy WebLinkAbout1957 the terms and obligations called for under said notes and mortgages ~ and to have all of the property described in said mortgages be the collateral for the total amount remaining unpaid on said promissory notes. ' NOW THEREFORE, in consideration of the premises and other good and valuable considerations, the receipt of which is hereby acknowledged, the parties hereto agree that the terms of said ` 3 promissory notes and mortgages shall provide the followinq: ; 1. As of the ~ate of the execution of this agreement, the s • present unpaid balance owing on said notes and mortgages is in the ; aggregate sum of Seven Hundred Fifty-one Thousand Twenty Seven and ; ~ 39/100 Dollars ($751,027.39), and the obligation created under said - ~ ~ promissory notes shall now be as follows: ~ ~ 1 k Y On or before July 1, 1979, for value received, the Mortgagors = ~ jointly and severally, promise to pay to the order of Windmill ~ ~ ~ ~ Villages of America, Inc., a Florida corporation, at P. O. Box 4154, ~ ~ Sarasota, Florida 33578, the sum of Seven Hundred Fifty-one Thousand ~ Twenty Seven and 39/100 Dollars ($751,027.39) together with interest ~ - ~ 4 thereon from date at the rate of per annum with quarter-annual ~ ; payments on principal thereon starting three (3) months from date ; of Twenty Five Thousand Dollars ($25,000.00) each, together with f . E interest on the unpaid balance to be paid with said principal pay- ! ~ ment until July 1, 1979, at which time all of the remaining unpaid ~ ~ balance of principal shall be paid, together with interest thereon. Time is of the essence and if default is made in the payment of any part of the principal or interest for thirty days, the holder shall have the option to declare the entire principal and interest ~ ~ ~ immediately due and payable without notice. ~ All makers and endorsers now or hereafter becoming liable x: ~ hereon, jointly and severally waive demand, presentment, notice of ~ nonpayment and protests, and agree that if this note becomes in : ~ t ~ default and is placed in the hands of an attorney for collectior~ to ~ pay reasonable attorney's fees including appellate proceedings and all other costs of collection, and that the holder may extend the ~ Y' time for payment from time to time or forbear to enforce payment _2 ~ R ~8 PA~~~54 ` do~ ~ ~~,.~,r: . ~ - ~ ~ '~'.~r ~ ~Yt, A • ~"~x.5~.,~ _ ~3. ^f^f' . . . . _ _ . . . _ _ .