HomeMy WebLinkAbout0792 • :
$2,269,160.00. Orlando, Florida
December 14, 1979
PROMISSORY NOTE
FOR VALUE RECEIVED, the undersigned, (jointly and severally,
if more than one) promises to pay to PRICE GROVES, INC., or order, in
the manner hereinafter specified,-the principal sum of Two Million .Two
Hundred Sixty Nine Thousand One Hundred Sixty and 00/100 Dollars
(_$2,269,160.00), with interest from date at the rate of -10- percent.
per annum on tfie balance from time to time remaining unpaid. The said
principal and interest shall be payable in lawful money of the'United
States of America at 2040 Hoffner Avenue, Orlando, Florida 32809 or
such place as may hereafter be designated by written notice from the
holder to the maker hereof, on the date and in the manner following:
1. A first principal payment in the amount of One Hillion One
Hundred Thirty Four Thousand-Five Hundred Eighty and 00/100 (51,134,580.00
shall be due and payable on January 16, 1980.
2. A second and final principal payment in the amount of One
Million One Hundred Thirty Four Thousand Five Hundred Eighty and 00/100
(.$1,134,580.00) shall be due and payable on January 16, 1981.
3, Accrued and unpaid interest shall be due and payable on each
principal payment date.
Mortgagor shall have the right to prepay this indebtedness at
any time in whole or in part without penalty or fee, provided, however,
no prepayment shall be permitted during the year 1979.
This note with interest is secured by a mortgage on real estate,
of even date herewith, made by the maker hereof in favor of the said
payee, and shall be construed and enforced according to the laws of
the State of Florida.
If -default be made in the payment of any of the sums or interest
mentioned herein or in said mortgage, or in the performance of any of
the agreements contained herein or in said mortgage, then the entire
principal sum and accrued interest shall at the option of the holder
hereof become at once due and collectible without notice, time being
of the essence; and said principal sum and accrued interest shall both
bear interest from such time until paid at the highest rate allowable
under the laws of the State of Florida. Failure to exercise this
option shall not constitute a waiver of the right to exercise the same
in the event of any subsequent default.
f Each person liable hereon whether maker or endorser, hereby
waives presentment, protest, notice, notice of protest and notice of
dishonor and agrees to pay all costs, including a reasonable attorney's
fee, whether suit be brought or not, if, after maturity of this note
s or default hereunder, or under said mortgage, counsel shall be employed
to collect this note or to protect the security of said mortgage..
Whenever used herein the terms "holder", "maker" and "payee"
shall be construed in the singular or plural as the context may require
or admit.
r
~ ~ BLUE THREE GROVES LIMITED
a~' ,~~i
ItEC~^' ~ 8 ~
~ Maker's Address: 4! y~
DEC 1? ~ s2
216 East Jackson Street
Orlando, Florida 32801 By: S
Y
EXHIBIT "A" - ~~~~K~/~ p?f;F i