HomeMy WebLinkAbout0972 f.4 CLE-! ~ CwURT
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OEC 3 1135 a!' '79
the principal amount outstanding and shall not alter the due
date of any subsequent annual installment unless Holder agrees '
3
thereto in writing.
~ 3. Time is of the essence of this Promissory Note.
` 4. Any of the following events shall, at the option
y~. of the Holder, constitute a default hereunder, and upon such
default all sums evidenced hereby shall immediately become due
and payable without notice, at the option of Holder and shall
bear interest from the date of default at the highest rate of
interest permissible under the laws of Florida:
(a) Failure of the undersigned to pay any install-
ment hereunder within thirty days after same shall become due
and payable; or
(b) Failure of the undersigned to perform any of
the covenants, conditions, provisions or agreements contained
herein or in the mortgage oY any other agreement entered into
between the undersigned and Holder relating to the debt
evidenced hereby. .
5. Delay in exercising any of Holder's rights or options
hereunder shall not constitute a waiver thereof, and waiver of
any right or option shall not constitute a waiver of the right
to exercise the same in the event of any subsequent default.
6. Should suit be brought hereon, or the same be
placed in the hands of an attorney for collection, whether•or
not suit be r_iied, the undersigned shall pa;•, ~n addition to
the amour?t now due hereunder, all reasonable attorney's fees
and costs so incurred. Thy undersigned also agree(s) that any
suit for collection of any sums due hereunder may, at the option
I
{ of Holder, be brought i~ any court of competent jurisdiction in
~ the State of Florida, and the undersigned hereby consent to the
jurisdiction of Florida for the purpose of such suit.
~ 7. The undersigned, jointly and severally, and as com-
munity and as separate obligations, waive presentment, demand,
protest, notice of nonpayment, any release or discharge arising
from an extension of tine, discharge of a prior party, and any
and all homestead rights.
8. The indebtedness evidenced by this Note is secured
by a Mortgage dated April 1, 1977 and recorded in
Official Record Book 270 at Page 1109 Public Records
of St. Lucie County, Florida. All of the terms, conditions,
provisions and agreements of said tortgage are incorporated
hereir~bv reference.
All parties reto severally waive presentment (or payment, notice of dishonor, protest and notice of protest.
f This rote is executed by Central Bank and Trust Canpany. no! personally, but as Trustee as aforesaid in tM exercise of the power
and authority conferred upon and vested in it as such Trustee, and is payable only out of the property specifically described in said Mort-
gage stcafrir~ the payment hereof, by the enforcement of the povisions contained in said Mortgage. No personal liability shall be asserted
or be enforcible against the promisor or any person interested beneficially or otherwise in said property specifically described in said Mort- i
gage given to secure the payment hereof, or in the property or funds at any time subject to said trust agreement, because of or in respect
of this rote or the making, issue or transfer thereof. All such liability, if any, is expressly waived by each taker and holder hereof, but
nothing herein contained shall modify or discharge the personal liability expressly assumed by the gwrantor hereof, if any. Each original
and successive holder of this note accepts the same upon the express condition that ro duty shall rest upon the undersigned ro sequester
the rents, issues and profits arising from the property described in said Mortgage, or the proceeds arising from the sale or other disposi-
tion theneof, but that in case of default in the payment of this note or of any installment hereof, the sole remedy of tl+e holder shall be by
fo.ecbsure of the said Mortgage given ro secure the indebtedness evidenced by this Hots, in accordance with the ten++s and provisions in
said Mortgage set forth or by action to enforce the personal liability of the guarantor, if any, of the payment hereof, or both. .
RAI. BANK AN TRUST MPANY
(CORPORATE SEAL) • i : As rustee a: e d and no 1 y,
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e n~n~t . l~~ PI~iF' By , _ _