HomeMy WebLinkAbout1806 REPLACt:MENI MOTS N0. 1
b205,000.00 gated _~o~,G~yi ~ / 1980
FOR VALUE RECEIVED, the undersigned, hereinafter called "Maker"
promises to pay to the order of SUN BANK OF ST. LIICIE COIlN1Y, 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
12~ per annum, until maturity, with principal and interest payable in the
following zranner: •
Principal and interest payments hereon shall b~ payable in
180 equal successive nro~~thly installments as follows:
S2 , F42.50 on the S T day o f , 19{'0 , and a 1 i ke
sum on tl~e correspvnc~ing day rf~ac:h~ucceeding month there-
after tcititil the whole be fully paid.
Both principal end interest are payable in lawful money of
the United States to the Bank at 111 Orange ,1venue, Fort Pierce, Florida.
In the Fvent of .iufault in any payment of principal or interest
on ttie dug date thereof, or upor. the breach of any provision of the mortgage
or ~7ortgages which secures this note, the Gank may at its option accelerate
maturi ~y and the un~aicl principal bat ar~c~ thereof and all accrued ~nter•est
shill thereupon hecome immediately due and payable ~•rithout 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 liabilities
of Maker to Bank, all money owed by Bank in any capacity to taker. •
Plaker waives demand, protest and notice of maturity, nonpayment
of protest and all requirements to hold it liable as Maker.
Flaker further agrees to pay all costs of collection, including
reasonable a*torn:~ys' fees, (inclusi~~~ of any appellate proceedings) in
case the principal of this note or any interest thereon is nit paid at
the respective maturity thereof, ~•~hether suit be brought or not.
Bank is hereby given a lien-upon and a security interest in all
property of ~laker now nr an, time hc~t•eafter in the possession of Bank in any
c:~t:acity whatsoever, i~icluding but not 1 invited to any t~al,~nce or share of
an~~ deposit, trust or agency account, as sec~:r~ty for the payment of this
note a~~d X11 other liabilities v; M~l:er to Bank.
~ • This ~tott~ s~•al 1 to governed as a v,tl ~dity, inlerl:relation, constructirn~,
3 efFrci acid all rithe.~ r e'ac~`.s by tha la~:s : nd dec is ior, : of t'.ie Stole of Florida.
In the event Bank rirtermin~=, i-;, nCC~~SS~?"y to institut^ s~~it Fo collect on this
~ no'e, thn ;:.lion matt mai,;taine~± h~• Bank in the S*a}~ ~f ~lrrida, ar~i -the
A'a'-ee• dues I~ereby c~~~~:^nt tr; tae instituti~~n of action ire `.h:t jurisdiction .
and waivf~s any ar,~l all dPf?n .es i t c~ay have to the maintenance of the suit
ire Florida.
Thi; note is secured Ly a mcrtg~~ge dated June hg, 19'4, as modified
~ by a Portgage t"odi ficaticr r~greeTCnt datEJ 711-f~~~l~ 1930,
bQtween Maker and Bank and is entitled to tine benefit--, thereof.
This note i c binding upon Ma'rer , and their heirs , persor•al
representatives, and assigns. •
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iirt)K X32 PecE 1801
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