HomeMy WebLinkAbout0737 I 1Jt~lL' i a~t~l.l-•~~. l ~ J1~ 1J /.J
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PROMISSORY NOTE
For value received, the undersigned both jointly and
severally promise to pay to the order of GENERAL DEVI?LOPMENT
CORP4RATION the principal sum of Forty-Five Thousand ($45,000.00)
and no/100 Dollars with interest thereon at the rate of nine (98)
per centum per annum from date until maturity, said interest beinq
payable in lawful money of-- the United States. of America at c/o .
Legal Department, General Development Corporation, 1111 South
Bayshore Drive, Mian!i, Florida 33131, or at such other address as
the holder from time to time may specify by written notice to the
maker, the principal and interest to be paid at the date or dates
and in the manner following:
The principal indebtedness evidence by this Note
shall be payable in sixty (60) equal and consec-
tive monthly installments of principal plus accrued
interest to date, beginning February l, 1976, and
- being due and payable on the first of each and
every consecutive month thereafter until paid in full.
Said indebtedness shall be prepayable in whole o.r
in part at any time without penalty.
This Note to be construed and enforced according to the
laws of the State of Florida, and is secured by a Chattel Mortgage
and Real Estate Mortgaqe of even date herewith.
If default be made in the payment of any of said sums of
interest or in the performance of any agreements contained herein,
then remaining unpaid with accrued interest shall immediately
become due and collectible without notice, time beinq of the essence
of this contract, and said principal sum and said accrued interest
shall both bear interest at the rate of ten per centum (10$), from
such time until paid.
Each maker and endorser waives presentment, protest,
notice of protest and notice of dishonor and agrees to pay all costs,
includinq a reasonable attorney's fee, whether suit be brought or
not, if counsel shall after maturity of this note or default here-
under or under said mortqage, be employed to collect this note or to
protect the security thereof.
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COL M. SIEGWALT
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$ ~ ~ in~State Documentary Stamps affixed to original
note and cance e .
~ Maker's Addresa:
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