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Southeast Bank Note Number
ON THIS _1_ ~t OAY OF _-QCr.GbEr_ 19$Q,-FOR VALUE RECEIVED, THE UNDERSIGNED
Itetetnafter called Maker without regard to number or gender, jointly and severally PROMISE TO PAY TO THE ORDER OF
SOUTHEAST FIRST NATIONAL BANK OF FORT PIERCE
•~••te•rnolter callk~rf BANK,
I?1E PRINCIPAL suns oFTHIRTY-TWO_THOUSAND FOUR HUNDRED DOLLARS ANO NO/100-_(i32,400.OOboLLARs
1'AYAeLE _180 days from closing
I+tterest thereon shall accrue from the date of funding, computed on the basis of a 365 day year, at the ANNUAL PERCENTAGE
FiATE OF 14;~~* _ _
INTEREST SHALL BE PAYABLE Quarterly. with~he first~avlnent due on _T~~~lp~ana a payment
on the same day of each and every quarter thereafter with the final payment due Aril lp, 1981.=
A11 payments shall be applied first to accrued interest and then to principal. Interest wit. accrue at the rate of 1/36 of annual
.merest for each day that principal is outstanding, but in no event shall interest be due at a rate in excess of the highest lawful rate.
:Vithout limiting the generality of the foregoing, and notwithstanding any oral or written agreement, no deposit of funds shall be
r~quiretl in connection with this loan in an amount which will, when deducted from the principal amount outstanding hereunder,
c:attse the rate of interest hereunder to exceed the maximum lawful rate.
If any payment ii not made in full when due, the entire unpaid prittctpal end accrued Interest, less any unearned Interest and any
~+terest Ire excess of the maximum allowed by law and any rebates required by law, shall at the option of the holder become
~•+ttnelirately due and payable without rtottce. Failure to exercise the option shall not constitute a waiver of the subsequent right to
~•~rrctse. AFTER MATURITY, INTEREST SHALL ACCRUE ON THE DELINQUENT PRINCIPAL BALANCE AT THE HIGHEST
t AWFUL RATE OF INTEREST OR, IF NO MAXIMUM RATE IS PRESCRIBED BY LAW, AT 189f~ PER ANNUM.
As security for the payment of this note, and any renewals, extensions or modifications thereof, and any other liabilities of the
'.?AKER to the BANK, however or whenever createel, MAKER hereby grants to the BANK a security interesi in:
1st mortgage on Lot 8, Block 17, PORT ST. LUCIE SECTION TWENTY FIVE,
according to the plat thereof recorded in Plat Book 13, page 32, of the
public records of St. Lucie County, Florida.
rih<~. nr iiut ~pr•r',hr' tnopr•tly •s desctrbed dtrove d5 add+Gpnal SlClp+ly for the Irdymenl ul IhrS Note any reneWdlS, !xtlnsrOm Or mOdrlreallOflf
•~<.eot• anti any other IrabrLties of MAKER to BANK, however or wherever aeated• MAKEN hereby pledges to BANK any and all property of MAKER
•+.v w ~erealter delrverell to or leh m or camrng into the possession- control w custolfy of BANK, whether expressly as Collateral flCUrrty or for any
++~rr purpose Irncludrrtg cash, stock end other drvrdenlls, and all nghts to subscrrlte la secunties tncidem to, declared, or granted rw connection vwth such
n/>ertyl, aril property lkrscnbed m cotlaterat rlCerpts or other drxuments sgrtetl or lurmshlxf by the MAKER, and any and all replacements of any of
luregmng. Whether err not rn the possession of Bank. All such property aril any other property slcurrng maker's hahdrtres to the Bank wdl herNlter
rrfenert ro as "the Collateral" The Collateral rs also olectged as SeCUrr? cur all other halnlrtres Ipnmary, secondary, direct, contingent, sole, IOrnt or
• .trail, due or to IreClnr?r clue or Which may t?e hereaher contiactNt~ uuetl, of each Maker (rrttludrrtg each Maker anlf any other person) to BANK,
..•~•ahw Such !•st+dures arse m the ordinary rnurse nl husrrttss or ram, u;h rs herelry expressly granted to the BANK at its option to danslet at any ume
.reef! u< to r+s nominee any Collateral. aril to rete+ve the income the arwl hold the same as teCUrny herelor• or apply rt on the p++nc+pal or interest
• hrrron or uue on any habdrty secured hereby. The BAN ay worm a to hold an plerlr{er1 property depOSrted hereunder after the payment of this
at the rrrrte of the payntem an/t l'rsche.ge hrereol a o the pare s liable 1 the Payment here0l shall ire Men directly or conhngenrly bable to -
BANK as make,, rrwlorser, surety or guarantor of any of ore, draft, hdl of xchange, or other ms+rurnent, w otherwise, and the tIANK may there-
' •r•r rteruSe ?he ~ rghts w+th respect t0 strd pleltgpl prppert rantM hereto a though Ih+s note shall have been wrrendaerf to the MAKER.
u rnu•t+v .++><1 yv.•ratly covenanted mid sgrecd with t e Bank each MAKER, rrgl/xxr, wrety, guar:uuor, Aral udrrr p,,rty w th+s Wort (all of
i .•~~,m ,rr•• herr•n.d err fro h+rv+ty Called Oblrgpr Or Obligor sl that
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:+dd,rrrn:, rn• ..•htavr;• rrdul,trons Or excha sot. or w Utut.ons for the Collateral, payments on account of thrq lp,?n Or inpeases of the same, Or
• . r I,, rr-•, rn.utr l,,+r r.;dly pr Wholly upon tl ~ C lateral, y Iro?tt t+me to ume rte made} w•Ihout alledrng the prUVrv Un; 01 Ih+t nOtP Or the habddrli Of
eny party hereto. Bank ,hall e~.srciSe tea taro rn a custody and preservation of the Cdlateral and shall be dcemed to have exercised reawnabN
+re rt rt takes wch bction f tf~purpOSe aker 1 reasonably request in writing, but n0 OmrssiOn to comply with any request of Msksr shall of it-
u~lf be deemed a tadure toe etc reasonable ca?e. shout hmrting the generality of the foregoing, the Bank aha11 have no rssponsibility for st+certsinitty
..ray matuntres, calls, eonver one, exchanges, offers tenders Or similar matters relating to any of the Collateral nor for inlormrng the untlersrgrNd with rt
~,.r,-t w any thereof. BAN shall not be bound o take any steps necessary to preserve any rights m the pledged property against error parties, and
•.~aKER shall take all netessa y st for such tenses. BANK o. ds nominee need not cdlsct interest on or principal of any pledged property or giw
...y notice with respect to rt.
Upon the happrmnq of any of the totiow+ng events, each of Which shalt conitrtute a dr•lault hereundr._ pr rf the Col+eterar sr+ell at any time blCOnte
•.•+r,slac?ory to BANK • or rt BANK shall at any time deem +tseH ins!clxe, all habrlrt+es of each Maker to BANK, wnrthrr rn rrut rv,drnced by this note,
.rl therrutx+n nr thereafter, at the option of BANK- wrthout notice or demand, become due and payable lal t;taurr of env Oblgo. to perlorm any
rr•rerrynt htreurrdrr nr to pay rn lull, when due, any babrbty whatsoever to BANK Or any ustWllment therrol or interest tM•rron. Ibl the death of any ;
!td•gnr, tcl tlw hhnq ql any pehbOn under the Bankruptcy Act• 4r any srmrly Irderal M state sWtute• by Or ,rr{,r.n;t any Otrl:gor Id+ an apphcatron fpr
atMM+nrrnrm of .elr•vcr tor, the making of a general assignment Ipr the benefit of cretlrtors by, a the u+whrrncy of any Obl,gor, eel the entry of a
,clymrnt against eny Ublrgor, 11) the nwrng of any attachrrtents a girmshment, or the I+hng of any Iron- against any prolrrrty o1 any Ohlrgor; Igl the
+.rnq of possess•on ca any wbslanhal part o1 the property of any Obl+gw a1 the instance of any governmental authtxrty. Iht the drssoiution, mergN,
'~+wbdat,on, or reargar•.rat+on o1 any Obligor, Ire the determmahOn till BANK that a material adverse eharrge has ex:curred rn the Irnancra+ condrtron of
+ ; Ub!rgnr born the i ondrtions set lorth ,n the most recent IinanCrai statement of wch Ohlrgor heretulore lurnrshed to BANK- or }rt„n the corHjdrOn 01
h Old,go+ as h.•rrtnture most rrcemly drsctoul1 fo BANK m any manner, w that any warranty, represenlahon, certifrcatr or st.,t••rrrrnt o1 any QblrgOr
:.•~ethrr contmnrd ,n this Wore or Wall prrtarmng to or m eonreetroo with Mrs note a d•e loan ltrrdpnCed by thn note ,s not true. Ill assignment by any
• ~KER of ,ray ryu+ty m .eny rat the plrrfgert Copaterai wrthout the vvrrnen consent of BANK, (kl ladure to do .ell m~r,gs necessary to preserve and
•nrntarn pee v.+lur aid aNbrct.b•1•ty of the Collateral, includ•ng, but not Irmrted to, the payment of taxes and pr••mnrms o+• tN+I•ues of rnwrante on the
dat•• wrr:our trenrl.t ul tree grace per,od
t ?fE PROVISIONS ON THE REVERSE SIDE ARE A PART OF THIS NOTE.
~ Florida First Realty p. Dev:~iOrxl:^n~. Inc.
r ,
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..~4:r.~t5 - 58-6._ Bay_shore Road _ Q U_--- - . l_._~_ ~i~ - fsEALI
_ Johns}R'. Perroni , President J
- Nor t_h_ Fort _yers , F l o_r_i_ der 33903
(SEAL) ,
rest rate shall float with the prime lending rate
o Southeast ~rst ationa ~n1c of Miami '
e set at 2°' over prime as established on the first day of each month. Said interest rate .
tdblisned on the first day o ,Path month shall continue throughout the said month and shall
-established on t~.f~rst.da of each succeeding month. The Prime rate of Southeast First
.~~tal Bank of t4iami is present y 12.5".
~K340 e~E ~~5
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