HomeMy WebLinkAbout1448 5650~000.00 AT FOR? PIERCB, FLORIDA Novea~bsr~_, 1975.
AS HSItBINAFTER SET FORTN aext after date, ve, or either of
us. promise to pay to the order of FIRST NATIONAL BANK OF FORT PIExCB ~
the sum of SYX HUNDRBD AND FIFTY THOUSAND AND 00/100 DOLLARS for value
received, papable at 300 South Sixth Street~ FoYt Pierce. Florida..
If default is made ia any payment when due, then at the
option of the holder, and without any other notice, all the remaining
balance shall be due and payable at once. ~
And each af us whether maker, guarantor or endorser, heYeby
severally waives and renounces any and all homestead exemption rights we
may have under the Constitution or laws of the State of Florida, or aay
other State or United Statea, as against this note; and each further
waives d.emand notice of non-payment and protast, and in event it becomes
necessary to collect this note through an attorncy, agrees to pay all
costs of collection including reasonable attorney's fee.
This note shall bear interest on the outstanding balance at
an annua2 rate equal to three percent (3X) atiove the vrime base rAte of
FIRST NATIONAL CITY BANK, New York City, New Yozk, ad~usted monthly,
with a minimum interest rate of ten and one~half percent (10 1/2X) per
annum, interest payable quarterly.
This note shall be payable in quarterly installments in the
folloWing manner, to-Wit:
IE
f $37,500.00 plus interest on February 15, 1976
$37,500.00 plus interest on Nay 15, 1976
4 $37,500.00 plus interest on August 15, 1976 ~
~ $37,500.00 plus interest on November 15, 1976 ~
`
~ $62,500.00 plus interest an February 1S, 1977
$62,500.00 plus interest on Hay 15, 1977 _
. $62,500.00 plus~interest on August 15, 1977
$62,500.00 plus interest on November 15, 1977
~ $62,500.00 plus i»terest on February-15, 1978
$62,500.00 plus interest on May 15, 1978
~ . $62,500.00 plus interest on Augu6t 15, 1978
~ $62,500..00 plus interest on November 15~ 1978
~ In the event the real property given ta secure the payment
~ of this promisaory note is txanaferred or convcyed by payors hereof, or
~
s
~ either of them, withaut written consent of the c~ortgagee, payee shall
~ have the option to accelerate the outatanding balance of principal and
s
~ interest due on eaid note.
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~ ° ~ ~ PAe ~44
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