HomeMy WebLinkAbout0309 PRO~IISSORY yOTE
5132, 500.00 Fort Pierce, E'lorida, ^iay 17 , 1979
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orci FOR V L,~ VEn i
S~H i~nST ~ r~l~~a~~ ON~- -F~~~~~J1N :
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e principa sum o ne un re T irty Two T ousan Five ~lun re 6
No/100 Dollars (5132,500.00), toqether w•ith interest thereon from
date, at the rate of seven percent per annum until maturity, both
principal ar.d interest beinq payable.,in lawful money of the United
5tates or its equ'lvalent at Sun Bank of St.Lucie Count•,111 ur.znce
Ave.,Ft.Pierce,Fla.~121-04858 , said principal and interest
paya e as o ok s:
Monthly installments in t'~e amount of 51,024.32, including
interest at the rate of 7$, commencing one sr.ont:: from the
date hereof.
Zn addition to the installr.ient payr.ients due hereunder, six
(6) months from the date hereof ~taker shall pay a lump sur~
payment of $15,000.00, which shall be applied to reduce
the principal balance of this obligation if installMent
palr.nents are current at the time; provided, hor:ever, that
upon payr.ier.t of said lur.tp sur.~ the r~onthly installment
payr.~ents due hereunder for the balance of the term s!~all
be reduced in accordance to the reduced principal balance.
Privilege is reserved to prepay in whole or in part at
any time without penalty.
Each maker and endorser severally waives demand, protest and notice of
maturity, non-payment or protest and all requirements necessary to
hold each of them liable as makers and enddrsers.
Each maker and endorser further agrees, jointly and severally, to Qay
all costs of collection, includinq a reasonable attorney's fee in case
the principal of this tlote or any payment on the principal or any
interest thereon is not paid at the respective r~aturity thereof, or
in case it becomes necessary to protect t~e securi±y hereof, ahether
suit be brought or not.
;t~:is ::ote and deferred interest payments shall bear interest at t~e
j ~a*e of seven perce.^.t per annum from maturity until paid.
j ~ i~i s:~ote is secured by a f irst mortgage of ever. date here.: it:z and is
E to be construed and enforced according to the laws of the ~tate of Florida;
; upor. default in the payment of principal and/or interest due or. ar:y ::ote
; secured by said :•lortgage, all ::otes so secured and rer.~aining ur.paid s::all
~ forthwith become due and payab~e noto:ithstanding their tenor.
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