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Home My WebLink About2413 . 1 PROMISSORY NOTE OUNT: $760,000.00 EXECUTED AT: PALM BEACH,FLORIDA _ NTEREST RATE: 11 1/2$ EXECUTED ON: SEPTEMBERp~, 1979 FOR .VALUE RECEIVED,-the undersigned :jointly and severally romise~to pay FIRST NATIONAL BANK IN PALM BEACH, a national anking association, ar order, at 255 South County Road, Palm each, Florida, or at such ether place as the holder thereof may esignate in writing; the principal sum. of SEVEN HUNDRED AND. IXTY THOUSAND DOLLARS ($760,000.00); provided, however, this btigation shall bear interest only, at the rate-of eleven and gone-half percent (I1 1/2$) per annum, on amounts actually disbursed Ito or for the account of-the undersigned, which interest shall be ayable monthly after the date hereof until twenty four (24) months rom date, at which time the principal is due and payable in full, ogether with interest at the rate hereinabove stated. This indebtedness may '.~e prepaid in-whole or in part at any " ime without penalt_~. This note shall be considered in default when any payment. equired to be made hereunder shall not have been made within - hirty (30) days following its due date. In the event of such default or in the event of any other default in payment of any um or any obligation required by the. terms hereof, the entire- npaid principal and interest shall, at the option of the holder ereof, become immediately due and payable. In the event of any uch default full power and authority is hereby given to the payee i ank by each of the parties liable for the payment hereof to agply._ oward payment of the within indebtedness any balance then standing tto the credit of any accounts maintained with the payee bank by ~SUCh parties, and further, to sell, assign and deliver or otherwise i dispose of-any property or securities of such parties in the If possession of the payee bank in the manner prescribed by law for ealizing upon collateral security upon default, and including the ' emedies prescribed by Subsection 679.9-504, Florida Statutes. r s now or hereafter becomin ari:ies i All makers and endo ser g P ~ereto jointly and severally waive demand, notice of non-payment Viand protest, and agree to pay reasonable attorney's fees in the_ _ vent this promissory note is given to an attorney for collection, ogether with all other costs of collection. All parties liable for the payment hereof agree that additiona makers, endorsers, guarantors or sureties may become parties hereto- 4aithout notice to them and without affecting their liability here- ~nder. - This promissory note is secured by a mortgage deed of even _ date herewith between the makers and payee herein, on property situated in the State of Florida, and is to be construed according o laws of said state. TTEST: S.C.S. TARPON BAY, INC., a Florida Corporation Y is ~ Itsr [y~ ` G (Corporate Seal) NOTE: Home Federal Savings & Loan Association of Palm Beach has - no liability for the within indebtedness. BO~x3~.7 ~~2410