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$ 49,000.00 Jensen Beach ~ , Florida
October 16, 197$
FOR VALUE RECEIVED, I, we or any of us, jointly and severally,
romise to n° i
p pay to the orde: ..ROLINE C. PASTERNACK the sum of FOR1Y-
NINE THOUSAND AND NO/100 DOLLARS, at 525 Bay Point Road, Miami, FL 33137, '
with fnterest from October 16, 1978, at the rate of eight and three-
fourths per cent (8 3/4X) per annuai until paid, in the followrins manner
and on the fol2owing dates:
Principal and interest shall be paid in 300 conseeutfve, equal
monthly payments in the amount of $402.87 each, commencing on~November 20,
1978, and continuing thereafter on the 20th day of each month until paid
in full. The first payment due November 20, 1978, shall be in the amount
of S449.86, which includes interest from October 16, 1978, through
October 20, 1978, in the amount of $46.99. Interest shall be calculated
on the balance of principal from time to time remaitiing unpaid.
Unless otherwise specified, all payments shall be applied first
to interest and then to the next principal payments to come due. If any
of such payaents of principal or interest remain unpaid for thirty (30)
days after the same become due, the entire principal sum and accrued
interest thereon shall forthwith become due at the option of the holder.
There shall be no prepayments of prfncipal in ~rhole or fn part prior to
January 1, 1979. Principal may be paid in whole or in part without penalty
at any time after December 31, 1978.
_ If at any time Makers shall prepay any part of the principal due
hereunder, the balance of princfpal remaining after such prepayment, plus
interest at 8 3/4X per annum, shall be paid in consecutive equal monthly
installments on the 20th day of each month over that portion of the original
300 month•payment period remaining after the date of prepayment. The effect
of any-such prepay~aent shall be to reduce the monthly payments due there-
after to an amount necessary to amortize and pay the principal remaining
after such prepayment with interest at 8 3/4X per annum over that portion
of the original 300 month payment period remaining after the date of pre-
payment.
Now, sliould it become necessary to colZect this note through an
attorney, each of us, vhether maker, surety or endorser on this note
hereby agrees to pay all costs of such collection, including a reasonable -
attorney's fee. The drawers and endorsers severally waive presentment
for payment, protest and notice of protest for non-payment of this note,
and consent tliat time of payment may be extended without notice to them.
(SEAL)
DR. BENJAI~lIN J . HORBAL
(SEAL)
DR. ALDONA HORBAL
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