HomeMy WebLinkAbout0601 ~
~
• t
. 1
' INSTALLMENT NOTE •
~152,250.00 Fort Pierce, Florida October 1, 1976
For value received we, jointly and severally, as principal promise '
{
to gay without de~alcdtion to ths order of LEVERETT SHAW GR4VES, ~
. {
INCORPORATED at the office of said payee in Fort Pierce, Florida, the ~
sum of One Hundred Fifty-~ao Thousand Z1ao Hundred Fifty and no/100ths
~
Dollars with interest from date at the rate of 8$ per annum, annual
installments, payable as follows, to-wit: $3,000.00 from the first ~
proceeds of the fruit sale; $14,925.00 plus interest on the lst day
of October, 1977 and $14,925.00 plus interest on the lst day of October ~
~f eacb succeeding year thereafter until the whole sum named is fu21y
paid.
Each installment first shall be applied in payment of the interest
and then on the unpaid balance of the principal sum. If default is
made in the payment of any installment when due, then, at the option
of the,payee all the remaining installments shalZ become due and
payable at once. The parties hereto agree and understand that except
for the $3,000.00 of fruit proceeds set out in the mortgage and except
for the proceeds of the 8-3 property, no additional payments shall
~
~ be made to the Mortgagee until after August 31, 1977, or such other
~ period of time as is required to preserve for the Mortgagee the '
~ privilege to treat the sale as an installment sale for its income tax
~ purposes.
Should it become necessary to collect this note through an
~ attorney, either of us, whether maker, suret~r or indorser on this note
hereby agrees to pay all costs of.collection, including a reasonable
~ attorney's fee.
The makers, sureties and indorsers hereof severaily waive present-
ment, protest and notice of protest for non-payment of this note and
agree that the time of its maturity may be extended before or after
~ maturity and do further severally agree to any renewal thereof be-
~
~
~ fore or after maturity, without notice of them.
~ ( SEAL )
~
~
~ ( SEAL )
~ - (SEAL)
~ $ State docu-
~ mentary stamps attached
~ original note and (SEAL)
cancelled.
~
~ ~
f
Rll
~f~ " `K 258 F~~r 595