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PROMISSORY NOTE
,
57,040.00 (together with interest Date: ~ , 1979
at the rate of 10$ per annum) Place : ~ v. N. - ~ _ , Florida
FOR VALUE RECEIVED, the undersigned jointly and severally pro-
wise to pay to FELIPE P.- LADIA, M.D. and LILIA D. LADIA, M.D., as
Trustees of FELIPE P. LADIA, M.D., P.A. MONEY PURCHASE PENSION PLAN
AND TRUST, dated the 20th day of October, 1977, and recorded in ~
O.R. Book at Page et seq., Public Records of
St. Lucie County, Florida, or or er, n lawful money of the United
_ States of America, at Payee's address at 41S N.W. 4th St., Okeechobee,
Florida 33472, or such other place as Payee may hereafter designate.
in writing, the principa sum of SEVEN THOUSAND and no/100 DOLLARS
($7,000.00), together with interest on the principal balance hereof
from time to time existing at the following ger annum rate,-to-
wit: Ten per cent (10$) on the unpaid principal hereof:
In no event however, shall the annual interest rate pro-
vided herein exceed that permitted by law. Principal and interest
hereunder shall be payable in the ~bllowing manner:
Thirty-six (36) equal consecutive monthly ,
installments of TWO HUNDRED TWENTY-FIVE
and 88/100 DOLLARS ($225.88), which amount ~r141
includes principal and interest provided 4
for herein, the first of which shall be
due and payable on the day of ~ ZZ
n~.-~ , 19 7 9 , and on the same 19Z~ Abu Z9 ~
day of each month -thereafter until paid a~p p oatpEO
in full. Payments shall be applied first EC~TYfLA.
to interest and then to principal. Maker ~~cAg
shall have the right to ptepay this in- ~Ygt,F~Eo
debtedness in part or in dull at any.
time with interest to abate accordingly.
IT IS AGREED that in the event of default continuing for
fifteen (15) days in the. payment of any installment of principal
j or interest coming due hereunder the holder of this Note shall
have the option of accelerating the balance of this indebted-
ness and the accrued interest hereon, without notice and demanding
full payment of the same. ~
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IN THE EVENT it becomes necessary to enforce the collection
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j of this Note, the maker hereof, and all liable hereon, hereby
.agree to pay (and there shall be included in any judgment or
decree relative to the same) all costs of such enforcement, in-
cluding but not limited to, Court costs, appellate costs and
reasonable attorneys' fees including fees incurred on Appeal.
t Interest after default shall be at the highest rate allowed by law.
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t AND IT IS AGREED, that each of us whether maker, surety,
guarantor or endorser, r.ereby severally waives all rights of
presentment, demand 'for payment, protest, notice of protest and
notice of dishonor, and consents that this Note or any part }
hereof may be extended without notice, and further agrees that
~ any release, exchange, surrender, sale or other disposition of
all or any real property which secures the payment of this Note
i shall not release any party liable herefor or hereon.
f _ '
THIS NOTE is secured by a second real property mortgage
of even date encumbering real estate located in St. Lucie
~ County, Florida, and shall be construed in accordance with the
laws of tf:e State of Florida. The obligation of each party
liable hereon or. herefor may be enforced in any action to fare-
1 e said mortz~age or by sep`a'rate acti/oft hereon . .
CANOR.~ . BAGLIO / a ~YNGD~ITA B . B Gt3.~0
Box 3~.5 P~~F 1442