HomeMy WebLinkAbout2527 WRAi'-ARO11N1) NO'I'I:
Fort Pierce, Florida
March 3, 1980 $42,000.00
For value received, I or we, jointly and scwerally promise to
pay to the order of MARK COIlk:N and ROl~lat'1'A S. COIIi:N, his wife, fort
Pierce, Florida, FORTY-TWO TiIOUSAND AND NO/100----($42,000.cJ0)-----
DOLLARS, at 6104 liidden Pines Road, Fart Pierce, Florida, or as
designated by payee; in 240 monthly installments of $433.5?. The
first installment to become dur and payable on or before the 3rd clay
of April, A.U., 1980, and one installment to become dui and payable
on or before the 3rd day of each succeeding month for fifty-nine
consecutive months, which payments include interest from date at the
rate of 11$ per annum.
In any installment of this note is not paid at the time and place
specified, and such default continur_s for 15 clays, the entire amount
unpaid shall be due and payable at the election of the holder hereof.
All parties hereto, whether makers, enclorscrs, sureties, guarantors,
or otherwise, hereby waive demand, notice c,nd protest. If placed in
the hands of an attorney for collection, ;~e jointly Cznd severally
agree to pay reasonable attornr_y's fees, includ>.nd crppcllate proceed-
ings.
Each installment shall Ci rst be apnt ic~cl in payment of the
interest and then on the unpaid balance of the principal sum.
This note may be prepaid in wix~l:~ car in part at any time without
penalty.
(a) This is a "Wrap-Around" note, i.e., a portion of L-h~~
principal arlrount of this note is represc'ntc~d by the unpaid lkalance
of principal of that certain first lien promissory not-o dated
~)ecember 30,-197G, executed by Mark Cohen and Roberta S. Cohen, his
wife, and payable to First Federal Savings and Loan Association of Fort
Pierce, in the original principal anx~unt of $22, 100.00; and a portion}
of the principal anrount of this :rote .is rer~rcrsunted by the unpaid balance
of principal of that certain second lien promissory note dated February.
15, 1977, execute~3 by dark Cohen and !tobc~rta S. Cohen and payable to
th^ order of iiarold E. Sullivan and Mary Ellen Sullivan, his wife,
an the original principal amount of $7,100.00.
i
. (b) ~7ai:ei- shall make payment dirc•c•t fo I':ry~~c~. Payc~c~ .-rclrec~s t-.o
uay all of thr• installments of urincil>al and interest c~ayable under
th^ first note before the same becomes clue and nay~ihle. In the event
~ that any installment of principal and/or interest payable under the
~ first and second notes arc not ~~a Ld when t.Irc carne bl'CUrn~':i clue .ind
~ ~ able, r*raker shall have the rifht (bu! shill not hc~ ohliclated) to
t'- y
pay such installment payable unclrr t.:u~ fir:; t_ and second notes as they
become clu-~ and payable and lc~ ~rpply .rr?y _.uc•!r p.rynu~nt :.o m~ui,~ (talus
an atrroU?l.~.. equal to interest at" th(` tll~ltl~"; t_ ialwllrl rat(' on tll~' arilnrlnt of
such payment from the date of payment_ by maker to file date the next
4 maturing installment of intrr~~st- i s duc• under this note) , :rs crc~di t
against the next maturing inst.rllnu~nt of int~•res;. duce hc~reu•ulc•r in the
direct order of their maturity.
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Frances I'~~arl iJicholson.
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