HomeMy WebLinkAbout2152 PURCHASE MONEY MORTGAGE NOTE
$SO,000.OQ Fort Pierce, Florida
December 1, 1978
FOR VALUE RECEIVED the undersigned promises to pay to the
order the UNITED PARTNERS III, INC., a Florida Corporation with its
principal place of business located at 405 Ixoria Avenue,
Fort Pierce,Florida 33450, the principal sum of Fifty Thousand and
no-one hundredths (50,000.00) Dollars together with interest
thereon at the-rate of nine (9X) percent per annum from this date
until maturity, both principal and interest being .payable in
lawful money of the United States of America, such principal and
interest payable in installments as follows:
1. Seventeen (17) equal monthly ayments of Two
Thousand and no-one hundredths ($2,000.00 Dollars with the first
payment to commence on January 1, 1979 and a like sum on the
corresponding day of each like succeeding period thereafter until
June 1, 1980, on which date the entire remaining principal balance
shall become due and payable in one BALLOON PAYMENT.
Such installment a ents shall be a lied first to
the interest accruing under the terms of thispNote and then to a
reduction of the principal indebtedness. A late payment charge
of five (57.) percent of the delinquent payment shall be added to
~ each installment remaining unpaid ten days after its due date.
The makers and endorsers of this Note further agree to
waive demand, notice of non-payment and prctest, and in the event
suit shall be brought for the collection hereof, or the samz has
to be collected upon demand of an attorney, to pgy reasonable
attorney's fees for making such collection. All ayments here-
under shall bear interest at the rate of nine (9X~percent per
annum from maturity until paid. This Note is secured by a
Mortgage,Security Agreements and Assignments of Mortgage Notes of
even dates herewith and is to be construed and enforced according
to the laws of the State of Florida; upon default in the payment
of principal and/or interest when due, the whole sum of principal
and interest remaining unpaid shall, at the option of the holders,
become immediately due and payable. Failure to exercise this
~ option shall not constitute a waiver of the right to exercise
the same in the event of subsequent default.
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