HomeMy WebLinkAbout2992 PURCHASE MONEY MORTGAGE NOTE
598,102.76 Fort Pierce, Florida
May 1, 1979
FOR VALUE RECEIVED the undersigned makers, KRALHINKLE
PHOTOGRAPHY GROUP, INC., a Florida Corporation having its principal
place of business at 940 South 4th Street, Fort Pierce, Florida,
promise to pay to the order of JOSEPH F. CORSO and D1AE A. CORSO,HIS
WIFE the principal sum of Ninety Eight Thousand One l~undred Two and
76/100 (598,102.76) Dollars together with interest thereon at the
rate of ten (10$) percent per annum from this date until maturity,
both principal and interest being payable in lawful money of the .
United States of America, such principal and interest payable in
installments as follows: -
Eighteen (18) equal monthly payments of 5800.00 with the first
payment to commence on June 1, 1979 and a like sum on the
corresponding day of each like succeeding period thereafter until
the eighteenth payment is made.
Three Hundred forty-two (342) equal monthly payments of
5871.35 with the first payment to commence December 1, 1980 and a
like sum on the corresponding day of each like succeeding period
thereafter until the remaining principal balance is paid in full.
The maker of this Note shall have the right to prepay this
vote in part or in whole without penalty after January 1, 1984.
Should the maker wish to prepay prior to that date, then it may be
done only by mutual agreement of the parties at the time the maker
wishes to prepay. which may provide fkor a penaltytdepeHndent solely
ag~~ tae ro°lor~ioQa~esattnouani`O~owardm~herp~epapyfYie~itho~ t~ied~irs~r~3o~eto
afid i~lort~ay~ mentioned below.
Suc installment payments shall be applied first to the interest
accruing under the terms of this Note and then to a reduction of the
principal indebtedness. '
The makers and endorsers of this Note further agree to waive
demand, notice of non-payment and protest, and in the event suit
shall be brought for the collection hereof, or the same has to be
collected upon demand of an attorney, to pay reasonable attorney's
fees for making such collection. All payments hereunder shall bear
j interest at the rate of ten (10$) percent per annum from maturity
until paid. This Note is secured by a Wraparound Mortgage of even
date 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. -
l This Purchase Money Mortgage Note and the Mortgage which secures.
it are not assumable and may not be assigned to any other party by
the makers and endorsers of this Note and that if any attempt to~ ,
assign this Note is made by the makers and endorsers, then it shall
be considered a default under the terms of this Note and the whole
sum of principal and interest remaining unpaidshall, 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
s exercise the s~uze in the event of any subsequent default.
On February 1, 1973 Joseph F. Corso and Mae A. Corso, his wife
3 executed a Promissory tiote~payable to Florida Bank at Fort Pierce in
the principal amount of $47,000.00 which Note is secured by a Mortgage
dated February 1, 1973 and covering the same real estate in the
.
sooK3U7 ~E299i
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