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THI3 TRUST AGRE8I~NT roade the day of U~ , 1977,
betvreen ANDRfiW V. ALDI . present ly of Uaioa , New J~sey , 1~ELVIN
CHiALB~ preee4tly o~ 1l4plewood, Nea Jereey, BOC8FORD R. BRN,
presently oi Locuet, New Jerseq and llIt~AEL P. YANNBLL,
presently o! Califon, Nea Jersey, (hereiAafter referred to ae
the"Truetors") and ANDAB~ V. ALDI, presently o! Union, New
Jersey, aud DdSLVIN (~iIRL3, presently o! ldaplewood, New Jersey,
(hereiaafter referred to as the "Trustees"),
NITNE3SETH:
1~REA3, simultaneously with the execution hereof, the
Trustors have authorized and caused the disbursement of a loan
in the sum~of ON$ HUNDRI~D $IGHTY THOU3AND AND NO/100 ($180,000.00)
- DOLLARS to Intra.coastal Utilitfes Corporation, a Corporation
existing under the laws.of the 3tate of Florida and having its
principal place of business at Post Office Drawer AA, Port
- ~ Salerno, Flt~rida, -
~ WHSR13A3, one of the Trustors, more specifically Rochford H.
Ern, has advanced to Intracoaetal Utilities Corporatioa in
addition a loan in the sum of~ONE HUNDRSD TQOU3AND AND NO/100
(~100,000.00) DOLLARS, `
NHSRBAS, Intracoastal Utilities Corporation has made,
executed and delivered to tbe Z'rustees, in accordance with the
request of the Trustors, i~s Note dated August 9, 19??, and
made to the-order of Andrew V. Aldi, l~elvin Chirls, Trustees,
in the principal sum of T1~0 THUNDRED $IGHTY THOUSAND AND NO/100
($280,OU0.00) DOLLARS with interest thereon at the rate of
eight and one-6alf (8~~) percent per year from the date of
said Note. and as security therefor its Nortgage Desd(s) of ~
even date therewith of certai.n lands and premfses situate.
Iying and being in the County of ldartin and 3tate of Florida
and of ce.rtain lands and prem~ses situate, lying and being in
the County of S~. Lucie aad said State of Florida, a21 more
particularly described in the legal descriptions, consisting of
three pages, hereto annexed, and Collateral Agreement.
WHEREAS~ the s~id Note provides for payment of such
principal sum and interest in equal consecutive taonthly ~
installments of principal and interest fn the amount of THREB
THOUSAND FOUR HUNDRED SEVENTY-ONE AND 60/100 ($3,4?1.60) DOLLAAS,
commencing one month from the date of said Note and the entire
balance of unpaid principal and accumulated interest thirty-
six (36) months fran the date thereof, with each installment
payment to be applied first to the interest accruing thereunder
and then to the reduction of principal, and .
11HEREAS, the Turstors desire to provide for collection of
said Note by tbe Trustees and for distrfbution of payments ~
I~ thereunder in accordance with the terms and provisions berein
contained; _
' NOW THEREFOA~, for and in consideration of the premises
and the mutual promises~ undertakings,-covenants and oonditions
herein provided and contained Lhe Trustore agree with each
other and with the Trustees as follows:
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. 427 P~c~ 593 .
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