HomeMy WebLinkAbout1137 REplACEMENT NOTE N0. 1
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5205,000.00 Dated , 1980
FOR VALUE RECEIVED, the undersigned, hereinafter called "Maker"- •
promises to pay to the order of SUN BANK OF ST. LUCIE COUNTY, hereinafter
called "Bank" the principal sum of 5205,000.00, at its offices at 111 Orange
Avenue, Fort Pierce, Florida, together with interest thereon at the rate of
l2~ per annum, until maturity, with principal and interest payable in the
following manner: -
Principal and interest payments hereon shall be payable in
180 equal successive monthly installments as follows:
52,642.50 on the day of 1980, and a like
sum on the correspo~n~ing day of each succeeding month there-
after until the whole be fully paid. .
Both principal and interest arse payable in lawful money of _
the United States to the Bank at 111 Orange Avenue, Fort Pierce, Florida.
In the event of default in any payment of principal or interest
on the due date thereof, or upon the breach of any provision of the mortgage
or mortgages which secures this note, the Bank may at its option accelerate
maturity and the unpaid principal balance thereof and all accrued interest
shall thereupon became immediately due and payable without demand or notice
• and to set-off against this note all money owed by Bank in any capacity to
Maker, whether or not due, and to set-off against all other ]iabilities
of Maker to Bank, all money owed by Bank in any capacity to Maker.
tlaker waives demand, protest and notice of maturity, nonpayment
of protest and all requirements to hold it liable as Maker.
Maker further agrees to pay all costs of collection, including
reasonable attorneys' fees, (inclusive of any appellate proceedings) in
case the principal. of this note or any interest thereon is not paid at
the respective maturity thereof, whether suit be brought or not.
Bank is hereby given a lien upon and a security interest in all
property of Maker now or any time hereafter in the possession of Bank in any
capacity whatsoever, including but not limited to any balance or share of
any deposit, trust or agency account, as security for the payment of this ~
note and all other liabilities of Maker to Bank..
This note shall be governed as a validity, interpretation, construction,
effect and all other respects by the laws and decisions of the State of Florida.
In the event Bank determines it necessary to institute suit to collect on this
note, the action may be maintained by Bank in the State of Florida, and the
Maker does hereby consent to the institution of action in that jurisdiction
and waives any and all defenses it may have to the maintenance of the suit
in Florida.
This note is secured by a mortgage dated June 19, 1974, as modified
by a Mortgage Modification Agreement dated 1980,
between Maker and Bank and is entitled to t e benefits t ereof.
This note is binding upon Maker, and their heirs, personal
representatives, and assigns.
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