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Home My WebLink About2673 ~~1'~ ~u0U.0U Exhibit B N~~v~~~ul~~~~ 1 , v:~lvo ~ctCivcd 11~~• und~•~~i~~n~•d joi~~llr c~~ul eoverolly ~~~uie~is~• tu p~~y ~u ~h~: ~?r~l~•i ol W1~1~!'T:12 I:. ~II.:J~1.1:1: ~ - a Florida corporation Mi mi, Florici~ ~'~~111'At1Y' SOUTUI:A:~T~ / c~~ ~~s principol ofTic~• at A500 piscaync I31 Vci. , it~~• Five ::undred twenty-five_.~!}lou pona s~s 525, 000.00---=-----~-""-"' ~.,,:~c5p~~1 tium of . . ' . . ~~•ine. w~~h interosl irom ilolc hNrvoF on unpaid principal af Ihv ~ote of three and OI1C`-half ~erccn~ ~ 1~•~~~ ,.~:r annum above the prime rate of interest charged from tim~ to time by ~outh- ~ast ~irst National Bank of Miami, but in no event shall thc interest be dur~ ~-~t: : rate in excess of the l~ighest lawful rate permissable under the laws oF tilc :~r.ate of Florida or ]~e less than a basic rate of eleven and one quarter ocrccnt (11 1/4$) per annum. Intr_rnst: ~~nly shall l~c duc ancl ~ay~lble on thc first ~iay of: thc m~nt~~ ~~:lo~.:ing the initial advance hereunder, and on the ~'irst day ot' each ~:u~~~~•::~+~'~~ -~:t:: tnereafter for eleven months. Principal payments of $10,937.50; plus :~:t~.rest computed on the princi~al balance from time to time remaininq, shalt :,c: due and payable in forty-eight successive monthly installments commenciit.~ •::~~h the first day of the thirteenth month following ths initial advance here- u:~cier. The principal balance remaining, togethe~ w~.th any accrued interesL ttlereon shall be due and payable on the first c~ay of sixty-£irst month fol- 7,owing the initial advance hereunder. This Note is secured by a real estate mortgage of even date herewi.th, ~~ncl is subject to the terms thereof. It is not the intention of. the parties hereto to make any agreement •::zich sha~l be violative of the laws of the State of Florida relating to usury. In no event shall Maker pay or Payee accept or charge anv interest which together with'any other charges on the principal or any portion thereof, ;?oc•:svever computed, shall exceed the maximum legal rate of interest allo~rable ~r.der the laws of the State o£ Florida. Should any provision of this Note or 3ny existing or further Notes, Loan Agreements, or any other agreement bet- •:r~en the parties be construed to require the payment of interest, which, to- ~ether with any other charges on the principal, or any portion thereof, ex- ~•~ed siich maximum legal rate of interest, then any such excess shall be and is -.~~-~:ty waive~, and shall be credited to the outstanding balance. It is understood and agreed that with respect to DAVID E. GOODMAN, ~t:~IVIDUALLY AND AS TRUSTEE, MORRIS GATES, INDIVIDUALLY AND AS TRUSTEE, AI~'NA GrT~S, I']DIVIDUALLY AND AS TRUSTEE, SYLVIA M. GORDON AND MICHAEL M. GORDON tr,at the liability of said t4akers hereunder shall not exceed the value of ~ t:~e property securing this debt and that the Payee shall look only to the -~ro~erky encumbered by the Mortgage securing this deb~, the Makers S. DAVID ~ ~:-.^~S, tiAMIE GATES, DONALD LANDY ANb LAURA LANDY ~as well as the guarantor , ~ ~atisf}~ any deficiency judgment. This Loan may be prepaid in full only durir.g the fourth or fifth ye.~z- -;1 th~ Loan . rn~••r~~~t nr•n~under shali bc charRcd nnly on the sum~ ~dvsnced (rom lhe date of advance to lhe Jstc o[ repayment ar~f Interest lrap /he d.~tr o( rr.t~: t~i the J:.le of sdr~nre Iti w•riced. ' ~ . T~c maKers, cndorsers, Bua~:ntors. aurelies and ~11 otAe~ partles llable for thc paymeet ot a~g~gd~ d„~ d~ ~a pKOme due undc: laws of the State of ~ ~ -•.i ~hia nule waive thc ri~;ht~uf er.~n~Di~~n undcr the_ and wai~•e preacnt tenl, protest and Ao+-•ar.:~, • e. t j.ro!ist, drmand aud of J~.hun~~! and nonpaymant pf Ihb note, and cansent that lhe or~ncn c~rrof thall havc U a n~;At, wilhnul n~.li~+r. : :,r.}- ua~~ at any• tiuic ~~~Ih rn~ parly hcreto, o~ lo ~rant ~ny ezteasiun ur cxtc~isiuns ot umc for pay~urnt o[ any u said indrLledness n~ :.n: ~ :.:ul~cnees or forbrar~nc.•< wh.,iruc~cr, or msy rrlcase any ot tbe seou~ity for lhls nute or swranlors oI this nut. w?huu? In any vray sQrcttn:; - .:~ta of ~ny o1t~M Mart~ f~~t thc p~~mm~t of lhis nole. - F.acA r..ax~t and ln~crxr fs~rth~r a~r~e~, Jointir and sevenlly. lo pay all costs of tutiecUon, tncludln~ • teawnablr ~ttorney s fee in cau• tAc ~.;.;1 c( tAis nute or any ~.-r>w~nl un ?he prfnelpal or any lnterest Ihereon b not p+id at the re?pecti~•e maWrity ~hrn if, ur In cau it bec.,m.•s - tc. , r~u•~t the secunty hrreut, wha•the~ syjt be brouiht ot not. ~ i cr pr:~cip:d, nr any inalallmenl of pnnclpal, unless paid wheq~.!y y~ e tleL m ~e.~ the r.?aximum lE.' al rate . • . pa~mcnt unlcu paid wh.•n duc,:hall bear Intcrest at the +~=Q~i~~ 1~~A1 id~6.Y , 9 7 his nutc is aecured by an~ and all callateral presently and herealter hel~ Dy the payee from the maker and Yfrcn ur ag~ccd to be ~ivrn t,! t~r ::>er n~ the maker, plus any and a!! cultatenl prcsenUy w hercaller held by the pa~cc ~IVen os ajreed to be ~l?en by an~ th1M party,o parUcs (_r • c i ~ncfit of the mater hereuL 7'hfs note is to be canstrucd and enforeed accordlnC ~o lhe Is~ri ol the___ _ State o f_FZorida ~ pon dcfault in 1hc pnnripal and/ur interest due hcreunder or on any notes held by lhc payee hcreundcr anJ ~n•cr by the maMer hera~f, ali n~s due Mrcuns~er snA on •ru uthcr nr,tes held by the payet and glven by maker hercot an.l remalnin~ unpaid, s6~11 :~rlhwilh bewme duc uid ~ nnt N•ith•t~nJm~ Ihc~r trn~~r. l~~.m thi• ~N~urrenec a+ lu ~np maker, cndorsrr ~r Ruarantor of any nt the tnlloNln~; evcnts: making of any mi~rcp~~~~ •ntations tu Ihe p~tir.• i.•: ,:~~•.,tir ~.f oL•ainin~ ercJ~~ or :.n ~••.~.~nci~.~i uf eredil: voluntary or Involunlary apyllcrlion tor, or appuintmenl uf. a~e~-• ~vi•r, 61in~ o( a culun~ic. ~...f m~a~~~ D~ ~~ti~.n un~irr ~n? uf tlu• IfankruPlcY ~aws or amenAmenla Ihcrcto; tsswnce Of a warrant of allachmenl ur (.r distrc« ~~r d~~t~ iu~~. of lax licn; eOtry ui a ~udc~n~•m :.~amst any of Ihem or aRainsl the prupe?ty of any of them: failure to pay, w1t1 n~IJ, collecl or rrm~t .~u. r t:~x dr6cirney wRtD aati~ ~util or du~•: ~uspcnsion nr !iquidatlnn ot uwal buslness; fallure, a[ter demand, to turm.h ti ancial in[nrn~a0on ~•r t~~ ;n~ptcuon a! an)- t„wk~ or u cunls: dr(ault in Ihe pa)ment o~ /xrfunnance d lhis nole or any obli~ation to, or ~uirM In an~• mannrr L. ~r it= ass~cr.;. ~his note and ail ~~~b~•r ~~Ali~atfons, direct or eontingent, and regaNless ot ho~rever or ~chenever creilcJ. ~f such ~naker or end~~r~rr •!•n pa>.•e >hall become aue ~nd ~..~>:~ble immeAiriely al the opllon of lhe payee or Its assigns wilhuut demand ur n. t~re. Each maker aod en• r.?.1 • .r. an. Lu~;atiun iwhethrr ur nn1 ari..~ng out of or rel~lin~ lo thfs note or such other ebligations? In which par•er and any o[ ldem shal[ Dc ad- ~ ;,srurs, ~ra~ces trisl by ~ury and Ihr r~~ht lo Interpose any defease, set oQ vr counlerclabn of por naWre or descripli .n. r^ . ~.V /s/ David E. Goodman" /s/~S. David Gates ~.r D~ . G gjt~~~~~ ;;pUNjY F~~~ w S. ~?AVII~ GATES $ _/s/ Morris Gates t--;~^~5 ~ N /s/ Mamie Gates T '~lORRIS GATES C~«~.~ 1~ IE GATES 1r+ /s/ Anna Gates A~r.c ~ ~ ~ = " - ~ S~lvia M. Gordon ~ ::.:::A GATES U~ 1~ ~p 53 a 5 ~ SYLVIA 1~1. GORDON /s/'Donald Landy « - /s/ Michael M ~Gordon ;;:;AT.D LANDY fiECBRDED IN THE dffipAt RffAROS 300K ~ MICHAEL M. GO ON • Of BROWARD COUHT7. fLORIOA ~~~C~ P~~~ _::r~a LP?_*lDY • • v k~TING CQU~iIY ADtili`~isiK.;r~R P9 • 14 of 14 , - - ~ - - r~,.;~;~. ` - ~ i-~- _ ~ : ~ _ .