HomeMy WebLinkAbout1329 including December 2, 1985; during this period, where interest only is
provided to be paid, the Maker shall have the absolute right, in addition
to the payment of interest, to make principal payments on the unpaid princi-
pal balance in equal•monthly amounts of 61,000.00 or more on each day that
interest payments are required to be made; Commencing January 2, 1986,
the remaining balance of principal due under this note, after applying all
deductions of principal theretofore paid by the Maker, shall be paid in
equal monthly installments, including principal and interest, in such monthly
amount as shall be required to fully amortize the balance of the principal
and accrued interest in one hundred and eighty (180) equal consecutive
monthly installments, each such monthly installment to be applied first
to accrued interest and then to the reduction of principal.
It is understood and agreed, that prior to the installment due on
January 2, 1986 whether such installment is'made under any of the options
granted to the I?taker as to the manmer of payments as set forth above, the
Maker may change from one option to the other at any time as the Maker so
selects, with the provision however, that beginning with the payment due
January 2, 1986, the remaining balance of principal and interest shall be
due and payable in equal monthly installments including principal and
interest in such monthly amount as shall be required to fully amortize the
balance of principal and accrued interest in one hundred and eighty (180)
I
equal and consecutive monthly installments, each such monthly installment
to be applied first to accrued interest and then to the reduction of prin-
cipal. In any event, and at all times, after December 31, 1980,-the Maker
shall have the right to prepay principal in full or in part at any time
without penalty or premium.
This note is secured by a purchase money mortgage of even date and
is subject to the terms and conditions contained therein.
K 1980 JUN -4 AM ~ 45
Alken Corporation of St. Lucie County,
Fu.EC R ~FC~o~~~ a Florida corporation.
si~R
cc~c cm By /g
m:ceatvfaa~a~~ 1 xan ems, er e, resident
r
Attest /-S~
F en et ertino, ecretary
(Corporate Seal)
$~oK332 P~E13~27
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