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Home My WebLink About2952 • - PRCMIS.gORY N(yIE 5338,675.00 Florida -January 15, 1980 FOR VALUE RECEIVED the undersigned, jointly and severally, promise to PAY 'PO Z48; ORDER aF JOEIIB A. HOAG, AS TRUSTEE The principal sum of Zhree Hundred 'thirty-Eight Thousand Six Hundred Seventy-Five and no/100 Dollars ($338,675.00) together with the interest thereon from January 15, 1980 at the rate of ten (10$) percent per annum until maturity, all payable in lawful rr_ney of the United States of America, as folla:~ Interest rn the unpaid principal balance of this Note shall be paid semi- annually oomtencing July 15, 1980 and each January 15th and July 15th there- after until January 15, 1985. Principal payments in the amount of Forty-Tao Thwsand Zhree Hundred Thirty-Four and 38/100 ($42,334.38) shall be made annually eatmencing January 15, 1981 and on the same date each year there- after through January 15, 1984. In addition to such principal payments, the aforementioned interest at the rate of ten (10~) percent per annum shall likewise be paid. Ch January 15, 1985, the entire remaining princi- pal balance of this Promi.ssrny Nate, together with accrued and unpaid interest, shall be due and payable in full. Tlus Promissory Note, and the trortgage by which it is secured, may be prepaid in whole or in part at any time without penalty. Neither Burlington Investments, Ltd., nor the undersigned agent of Burlington Investments, Ltd., shall be personally liable upon this ~mnissory Note, but the Payee herein shall look only to the ser.-urity of the Nbrtgage by which this Promissory Note is secured. - All oayr.>fnts shall apply first to accnx~d interest, and the remainder, if any, to reduction of principal. If any installment of principal or interest is not paid when due, or upon any default in the performance of any of the covenants or agreements of this note, or of any instru~mt now or hereafter evidencing or securing this Hate or the obligation represented hereby, the whole indebtedness (including principal and interest) remaining unpaid, shall, at the option of the holder, became immediately due, payable and collectible, and while in default, this note and deferred interest shall bear interest at the rate of twelve (12$) percent per annum. Each maker and endorser severally waives demand, protest and notice of maturity, Han-payment or protest and ~ all requirements necessary to hold each of them liable as makers and endorsers. ` Each maker and endorser further agrees, jointly and severally, to pay all costs of collection, including reasonable attorney fees in case the principal of this note or any payment on the principal or any_interest thereon is not paid at the respective maturity thereof, or in case it bec.~ames necessary to protect the security hereof, whether suit be brought or not. Payable at Q. p . B o ~ `r (Seal ) Stuart . rior~~4 any (Seal) BY: TH or such other place as shall be designated by the holder of this note in writing. f a,` z~ 4'72960 ~pN ~ 7 PN tiz ~ ~ ~ O ~ 19Q4 FILE01?NC FECOKOE 0 5 ROGER POITRAS~ CLERK CIRCUIT CRT AECO^0~'EpIFI[0-~ ""l a~~!3 P~~E?94i