HomeMy WebLinkAbout0833 - PROMISSORY NOTE
S 73,900.00 PORT ST. LUCIE, FLORIDA
MAY 16, 1979
FOR VALUE RECEIVED, we ~ointly promise Co pay to the order of
FRED A. MASCIELLO and BESSIE I. MASCIELLO
Route 04, Box 69G
Fort Pierce, Florida 33450
the sum of.SEVENTY-THREE THOUSAND NINE HUNDRED and No/100----------------------DpLLqRS
~ with interest upon the unpaid principal balance hereof at the rate of Nine and One-Half
(9 1/2X) per cent per annum. Interest only, at that rate, shall be due on the 16th day
of each month hereafter to and including October 16, 1979. Thereafter, a principal pay-
ment of $8,000.00 and uqpaid interest shall be due on the 16th day of November, 1979,
and a payment of accrued interest only shall be made on December 16, 1979.
Beginning January 16, 1980, interest and principal shall be due and payable in
I
k the amount of $575.78 and a like sum on the corresponding day of each and every month
I
thereafter until April 16, 1981, and the final payment of $64,981.54 together with
accrued interest shall be due and payable on May 16, 1981. Each payment when made shall
be first applied in payment of interest and the remainder Co the unpaid principal balance.
The Borrower shall pay to the note holder a late charge of five (5X) per cent of
any monthly installment not received b t e note holder ~rithin ten (10) days after the
instal~ment is due.
Borrower agrees to retai ~o~qf~a e p otection insurance for this note until
maturity. lJ
.
Each maker and endorser verally waives demand, protest and notice of maturity,
non-payment or protest and all requirements necessary to hold each of them liable as
makers and endorsers.
Each maker and endorser further agrees, ~ ointly and severally, to pay all costs of
collection, including a reasonable attorney~s fee in case the principal of this note or
any payment on the principal or any interest thereon is not paid at the respective
maturity thereof, or in case it becomes necessary to protect the security hereof, Whether
suit be brought or not. .
This note is secured by a Purchase Money Mortgage of even date herewith and is to
~ be construed and enforced according to the laws of the State of Florida; upon default
C in the payment of principal and/or interest due on any note secured by said Mortgage,
all notes so secured and remaining unpaid shall forthwith become due and payable notwith-
standing their tenor.
The makers of this note hereby reserve the right of prepayment in whole at any
time without penalty. -
The tax required by Section 201.08 of the Florida Statutes has been paid and proper
stamps have been affixed to the Mortgage which secures the obligations evidenced by this
note.
THIS NOTE IS NOT ASSIGNABLE. ~
~ ~ (Seal)
JOHN E. PETERSON
~'C'`..Cc~.!'e*J • ,~~~1-/.~~~de~ ( S ea 1)
PATRICIA A. PETERSON
go~~~ 309 PAGE 83z
~ _ - - - - ~
~ ~ ~ ~
~ ~