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$840,000.00 Palm Beach Oo~nty, Florida Januaxy 4, 1980 +
FOR VAIN 1~7CEI11EQ, the undersigned jointly and -severally promises to pay
too the order of TB13CAt~lE SIIG~t (JOAtPICN the principal sun of -Eight :iuxl.red
Pbrty Thousand Dollars $840,000.00, together with interest therern from date at
the rate of Ten (10$) Peroett per annuct-until maturity, both priricapal and -interest
being payable in ].awful money_of the United States at 314 F Aayal poinciana Plaza,-
. Palm Beach, Florida, ar «t such other place as the holder hereof may desirnza~t~e
in writing. The principal shall be payable in Ten (1Q) equal annual installments
eamnenci,rig One (1) year- ff+an date hereof. In shall ba paid at each principal
maturing date. Each instalment payment shall 'ted-first on the interest.
-then due; and the ranaiixjer on principal; t shah there cease -
the principal so .credited. ~1
-Provided rsi.gned shall have the right
to defer atotal- of -Two (2) - annual p is with the atrotmt of sane to be
ballooc~ed and ~3yable at it~aturity, - _ 4, 1990. Any deferred principal
shall continue to bear interest at f Ten (10$) Percent Ix_r annua, with
suds, interest being payable at each pat matttriryg date. -
In the event the propP.rty which is securing this note b}~~ virtue of a Second .
l~brtgage is sold prior to maturity of this note and/or payment in full, then and
in such event, the Payee, hereof shall have the right tD aooellerate the payment of _
all mess. -
Each maker and endorser severally waives danand, protest and notice of maturity. _
non-payment or protest acid all requi.rem?nts ne~s:ary to hold each of them liable
as maJcers and endorsers.
Each maker and endorser furthP.r agrees, jointly and severally, to pay all -
costs of eollecticn, inrludi.ng a reasonable attorney's fee in case the principal
of t'iis note or any paymPn~ on the principal or any interest thereon is not paid
at the respective maturity thereof, or in case it beeames• necessary to pnot-,ec_t the
security hereof, whether suit be brrught or not.
This note and deferY~ed interest payimnts-shall bear interest at '.he rate of -
Ten (10$) Percent, per annun from maturity until paid. - -
This note is secured by a Second Mortgage of even date herewith ar3 is tD be
consts~~ed and enforced according m .the laws of tt;e State of Florida, upon default
in the- payment of principal and/or interest when due, the whole sun of principal
and interest remaining inpaid shall, of the option of the -holder, b~zoome iim>Lciiately
- due and payable. - -
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_ r MA3~C~ II~i~ID C7C~P~ATIQ~ -
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, , ' - , Vice Pres t +
- ' F to t ~ ~ (SEAL)
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