HomeMy WebLinkAbout2077 PROMISSORY NOTE
S60,000.00 Fort Pierce, Florida
~rnmht~r 21 ~ 14i9
(Date of Note)
For value received, the undersigned, JOHN F. PI=E}FI•'FR
and JEAN M. PFIi1FFF.R husband and wife, doing business as
CARPETS BY FIVE-FOUR, 2306 Oak Drive, Fort Pierce, Florida
33450, promise to pay to the order of AGRICO CHEMICAL COMPANY,
at its office at Bank of Oklahoma Tower, One Williams Center,
Tulsa, Oklahoma 74172, on December 30, 1980 the principal
sum of SIXTY THOUSAND DOLLARS ($60,000.00). together with
interest on the unpaid balance thereof computed from the
- date of this Promissory Note at the rate of fifteen percent
(15y) per annum, said interest being payable at maturity
with principal as hereinafter set forth.
1. Principal and interE~;:t not paid when clue s}~all
bear interest from the due date thereof computed at the rate
of eighteen percent (18~) per annum until paid.
2. The makers hereof shall have the right to prepay
in whole or in part the unpaid Urincipal balance hereof at
any time, without prepayment pe~ilalty or premi.urn, FRUVIDED
that at the time of each such l~repayment~of principal the
makers shall pay all accrued interest on the amount of such
prepayment to the date thereof.
3. The undersigned makez-s and each surety, endorser
and guarantor hereof, jointly and severally, covenant and
agree that time is expressly of the essence hereof and that
~ (1) in the event payment of principal or interest payable
i
hereunder is not made when due or in the event of the breach
of any covenant or agreement contained iIi thr purchase money
real estate mortgage given this date to secure this Promissory
Note and any such defaults or failures have not been corrected
~ after ten (10) days written noi.ice and demand by the holder
hereof to do so sent by certified mail to the makers at
their address stated above (date of said notirc and demand
being date same is deposited iIt the [Inited St.atc~s Fast
Office, Tulsa, Oklahoma), or (2) should any of the makers or
any other party hereto make an assignment far t.hc benefit of
creditors or a receiver, custodian, liquidator, trustee or
like officer be appointed to take custody, possession ~r
_ control over any property of any party hereto and shell not:
have been discharged within sixty (60) days after such
appointment, or (3) in the event proceedings he instituted
by or against any maker or any other party here-t.o ulu~er any
bankruptcy act or amendment thereto and sue}~ bankruptcy
proceedings remain undismissed for a period of sixty (60)
days thereafter, or (4) should any maker or any ot}~er party
hereto admit in writing their inability to pay their debts
generally as they become due, or (5) any maker or any party
hereto voluntarily consents tc~ any bankruptcy ar receivership
proceedings, then and in any of~ such events, the- holder or
holders hereof may, at their UptlOIl, and wi-thout. further
notice or demand (both of which are hereby expressly waived
by the maker and all ether parties hereto) declare t-his
Promissory Note and all unpaid E~rincipal and accrued interest
~ -
iZ •y-~9
_ (~It ~7~ - - - ~Nl"7A