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This Note is secured by a mortgage (ths Mortgage), dated the date
hereof, of property situated In the Sgte of Florida, granted by the Maker to
the Payee, fio which reference is hereby made for a description of the
mortgaged-property, the nature and extent of the security, the rights of
the Playas in respect thereof and the terms and conditions upon which this
Note is issued.
The Maker. agrees that.it shall be bound by any agreement extending
the time or modifying the above terms of payment, made by the Payee and
the owner or owners of the property affected by the Mortgage, whether with
or without notice to the Maker, and the Maker~shall.continue liable to pay .
the amount due hereunder, but with interest at a rate no greater than the
Interest Rate, according to the terms of any such agreement of extension or
modification. - .
The unpaid balance of the Principal Amount, plus accrued interest
shsll_¢ecome due and payable at the. option of the Payee under the happening-
of an event by. which said balance shall or may become due and payable
under the terms of the Mortgage.
This Note may not be changed orally, but only by en agreement in
writing, signed by the party against whom enforcement of any waiver, -
change, modification or discharge is sought.
_ A11 parties to this Note, whether Maker, principal, surety, guarantor -
or endorser, hereby -waive presentment for payment, demand, protest,
notice of protest, and notice of dishonor, and expressly agree jointly and
severally to remain and continue bound for the .payment of the principal and
interest provided for by the terms of this Note, notwithstanding any exten-
sion or extensions of the tune of, or for the payment of said principal or
interest,. or any change or changes in the amount.or amounts agreed to be
paid under or by virtue of the obligation to pay provided for in this Note,
or any change or changes by way of release or surrender or substitution
of any-real property and collateral, or either, held as security for this
Note, and waive a!I and every kind of notice of such extension or extensions,
change or changes, and agree that the same may be made without the joinder -
of the Maker.
r
- ~ /s/ William E. Grace
-
~ /s/ Margaret W. Grace
s James A. Grace
/ /
s
a~aK 303 ?354
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