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Home My WebLink About0361 PROMISSORY NOTE . . . $ 522,500.00 Vero Beach, Florida September 1, 1977 As below specified, after date, I, we or either of us promise to pay to the order of IARRY HAMILTON the sum of ~ --FIVS HUNDRED ~1ENTY-TWO THOUSAND FIVL HUNDRED AND NO/100 DOI.I~ARS for value received, payable~at the office of John H, Sutherland, Attorney at Law, 321 - 21st Street, Vero 8each, Florida, or such other place as payee may designate in writing, with interest from September 1, 1977 at the rate of 8'~ per annum until paid; interest payable annually as below specified. ~ And each of us whether maker, guarantor or endorser, hereby - severally wa3,ves and renounces any and all homestead exemption ~rights we may have under the Constitution or Laws of the State of- Florida, or any other State, or United States, as against this note; and each further waives demand, notice of non-payment and ~ ~protest, and in the event it beco~s.necessary to collect this note through an attorneq. agrees to pay all costs of collection,. ~ including reasonable attorney's fee. The principal and interest of this note shall be due and - payable as_follows: The principal sum of $ 47,500.00 shall be due on January 15, 1978. All unpaid accrued interest from September 1, 1977 to June 1, 1978 shall be due-and payable on ~ June 1, 1978. Commencing June 1, 1979 the principal and interest shall be due and payable fn annual installments of $ 45,000.00 per year and continuing on the same date of each and every year thereaftex until 19 annual installments have been paid in full - and on the 20th installment, namely; June 1, 1998, the entire unpaid balance shall immediately become due snd payable. Interest ~ shall accrue at the rate of 8x per annum on the unpaid balance from tine to time remaining and all payments shall be applied : first to accrued interest and remainder to principal. In the event of a default iu any payment of principal or interest which~ default shall not be corrected within 30 days thereafter, or in - the event of a default in the performance of any of the agree- I ments contained herein or in said ~rtgage, then the entire ' principal sum and accrued interest shall, at the option of the holder hereof, become at once due and collectible-without notice, time being of the ess~nce; said principal sum and accrued interest ~ shall bear interest at the highest rate allowable under the laws : of the State of Florida: Failure to~exercise this option shall not constitute a waiver of the right to exercise same in the event of any subsequeat default. Commencing on January l, 1979, the entire note may be prepaid without penalty. TRIPLE M GROVES, a General PERSONAL ENDORSEMENT: ~ Partnerahip /s/ 0. R. Mintoti By 0. R. Minton~ (SEAL) . . . . ton, ag ng artner : _Shirlev n ~ • „ . . /s~_0~._ R. Minton. _Jr. - , - /s/ Berryman T. Minton . /s/ John L. Minton . - The above individuals personally endorsing this note do hereby agree . that each and every one of them shall be personallq responsible for the ~ paynaent of the entire amouat due on said note and each endorser shall peraonallq guarantee the payment of the same. _ EX~IIBIT 8 ~ ~~x 274 P~ 36Q ~ o~,~ ,o~, K ~+~+o „~o - _ ~._y