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NL•'GO'PII?I3LE PROMISSORY NOTE
5250,000.00 Fort Lauderdale, Florida July 1977
For value received, we, the undersigned, do jointly and severally pranise to pay
in 2awful money of the United States of America, to thQ order of: CEN2vRY NATIONAL
BANK OF FORT LAUDERD]~LB at SO1 E. Las Olas Boulevard, Fort Lauderdale, Florida, or at
such other place as the holder of this note shall in writing designate, the principal
s~,un of: T.~O HUNDRED FIPTY TtiOUSAND DOI,I.ARS ($250,000.00) with interest thereon from
date at the rate of 9~ per centum per annum, with principal and interest payable as
herein provided:
Durinq the first six (6) months of the tezm of this indebtedness, interes~
only shall be payable on the lst day of each month, beginninq on the lst
day of Auqust, 1977, on the outstandinq balance on each of said dates.
Beqinninq on the lst day of February, 1978, the amount of $2,330.40, shall
be payable on the lst day of each consecutive month, until 1?pril 1, 1984,
at which time the remaining principal balance of $214,846.43, plus accrued
f.nterest, shall be due and payable.
The Loan Aqreement executed by the parties hereto, c2ated the ~ day of
July, 1977, is hereby inoorporated in full in this Note. '
Borrower shall have the right t4 prepay, without penal.ty, the moneys
provided for under the terms and conditions of this Note, after the first
anniversary of the Loan. , .
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In the event any installment of principal or interest is not paid within fifteen
(15) days after the same becanes due, the whole of said aggregate indebtedness hereby
evidenced shall forthwith automatically, without notive, became due and payable. Zn
the event of such acceleration of the maturity of the aqqregate indebtedness, interest
at the highest rate allowable without violating' usury laws shall be computed and be
required to be paid on the unpaid agqregate principal and interest accrued at time of
acceleration until the same is paid. Such canputation and exaction of interest shall
exclude "unearned interest", which may be othezwise included in each instalLnent,
anything herein to the contrary notwithstanding. No delay by the payee or holder of
this note, in enforcing the terms hereof, shall ever be construed as a waiver of his,
her or its right to enforce the same. The debt evidenced by this note, havinq once
been accelerated by reason of default, cannot be deceierated, save and except (a) by
an instrument in writing executed under seal by the ho2der of this note and also (b)
supported by independent good and valvable consideration. The acceptance by the
holder of this note of part payroent or part performance shall not be treated as
curinq any defanlt, nor shall the same operate as an estoppel or waiver. ,
Now, should it become necessary to collect this note through an attorney, either
of use, ~?hether raaker or endorser on this note, hereby agree to pay all costs of such
collection, including a reasonable attorneys' fee.~ A11 makers, endorsers and other
parties liable hereon severally waive presentments, protest and notice of dishonor,
and consent that time of payment may be extended without notioe thereof.
The raakers and endorsers,.and all persons who have assumed the obligation to pay
this promissor~ note, do hereby certify, warrant and represent unto the payee and
holder of this note as fellows: (a) Zt~.at all things required by law to be had and _
done and steps taken in order to make this a valid obligation have been had, taken
and done; (b) That the debt evidenced hereby and this pranissory note is a valid
subsisting debt and negotiable pramissory note; (c) That the makers and endorsers
and all persons hho have assumed the obligation Y.o pay this pranissory note have no
defense against the enforcement of this promissory note; (dj That the Court, wiYhout
the intervention of a jury, upon a motion for summary judgment or decree, may determine
and adjudicate aIi sums of money due hereunder, inc2udinq but not li-nited to'principal,
interest, reasonable att,~rneys• fees, litigation costs and other expenses.
R ORCEJ ST. LUCIE PACKING CORPORATION
Bernard Egan •l A
ROGEA P0~1RAS
^.t.EpM GIS:CUIT CCUP,T By:
" ~f'4`'`-n Bernard Egan, President
~;lizabeth Egan I~L 3 oz PN •
~J
ATTEST:
Charles M. Campbell 3~2~1~~ ~
~ BY=
Charles ~i. Campbell, Secretary ~
Barbara Anne Canpbell .
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