HomeMy WebLinkAbout1810 s702,000.00 Fort Pierce, Florida, July 12, 1979
~ As specified below, ROTH PROPERTIES, a Florida General Partnership,
promises to pay to the.order of WILLIAM A. THOMAS, as Trustee, ~702,000.00
for value received, payable at Fort Pierce, Florida, together with interest
on unpaid balances from time to time outstanding at the rate of 8-1/2% per
annum until paid.
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The first payment of interest only shall be made 18 months from the ;
date of this Note. Commencing with 24 months from the date of this Note,
amortization and interest shall be paid in equal semi-annual installments, ;
which shall be based upon an amortization schedule of 15 years of payments;
provided, however, that there shall be a balloon payment at the 20th semi-
annual installment due.
1'his Note may be prepaid in whole or in part at any time without
penalty after January l, 1980. Any such prepayment shall be applied to the
' next installment or installments due hereunder.
This Note is secured by a Purchase Money Mortgage of even date here-
with. It is expressly understood that the Maker has no personal liability
hereunder and the only remedy of the Holder in the event of default shall be
~ to foreclose the Purchase Money Mortgage whicf~ secures the debt evidenced
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i hereby. -
~ The terms of said Mortgage are by reference made a part hereof.
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~ It is agreed that time is of the essence of this contract and that
~ in the event of default in payment of any installment for a period of 30 days,
the holder of this Note may, at his option, declare all the remainder of said ~
debt due and collectable, and any failure to exercise said option shall not
constitute a waiver of the right to exercise the same at any other time.
~ Should it become necessary to collect this note through an attorney
~ or by legal proceedings, the undersigned promises to pay al-1 costs of collection
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~ including a reasonable attorney's fee. The undersigned waives presentment for
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~ payment, protest, notice of protest, and non-payment of this Note. _
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~ ROTH PROPERT a F1 ori da Gen
j'Par xfer hi p
~ By ~..~~.~.......i ~ ( SEAt
~ ENNETH W. RO H
~,,~?K 312 PdGF 1g08 .
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