HomeMy WebLinkAbout0457 EXHIBIT "B"
PROMISSORY NOTE
5200,000.00 Stuart, Florida - July 18, 1977
For value received, the undersigned, 3ointly and severally promise to pay in lawful
money of the United States of America to the order of AMERICAN 6ANK OF MARTIN COUNTY at its
banking house in Martin County, Florida the principal sum of TWO HUNORED THOUSAND DOLLARS
(b200,000.00) together with interest from the date hereof at the rate of TEN PER CENTUM
(10~) PER ANNUM on the unpaid balance until paid, said principal and interest to be payable
as follavs:
~ The principal shall be paid in full on or before the 18th day
of July, 1980. The intcrest shall be paid quarter-annually on .
t~±p 1~~h c~ay nf pa~h (l~~nh~~s ,lan~~arj s OFril anrl .1~~1 j~p~o~ftip~~
until the entire principal and interest shall have been paid in full.
In case any payments of principal or interest are not paid within fifteen (15) days
after the same become due, the ~,hole of said principal and interest sum shall forthwith
become due and payable at the option of the holder hereof.
The undersigned makers hereby severally waive presentme~t for payment, notice of non-
payme~t, protest and notice of protest, and dili9ence of bringing suit against any party
hereto, and consent that time of payment may be extended at the option of the holder without
notice thereof to any of the parties hereto.
NoN, should it becane necessary to collect this note through an attorney, the undersigned
makers, jointly and severally agree to pay all costs of said collection, including reasonable ;
attorneys' fees and costs of appeal. ~
The holder hereof is hereby exoressly authorited to retain any general or special deposit,~
collateral. real or personal s~curity, or the proceeds thereof, belonginq to any of us. now or F
hereafter in the possession of the holder during the time this note rerrajns unpaid, and before `
or after maturity hereof may apply the same to this or any other debts or liabilities of the
undersigned to the holder, due or ~o become due.
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This note is secured by a mortgage encumbering real estate l~cated in St. Lucie CountY, ~
Florida of even date herewith. Interest shall accrue after maturity at the hiQhest rate
allowed by law. -
~TTEST: VICTORY C jST~J~~ION, INC. ~
Ey: ~ By: s -
' Virginia Georgeff Vic Georgef , President -
Secretary-Treasurer ~ _ s :
(SEAL `
{ (CORPO ; Vic Georgeff, Tnd~v~dua y }
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I s S (SEAL
i Yirgi ia Georgeff, Individually
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~ FIlEO AND RECOR~ED
ST. ROCER POITA~S ~A
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