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ON THISZQC~1__.UAY OF UgCCID~eL__ ________.19$(L_ FOR VALUE AECEIVEO, THE UNDEFiSIGNEO
he~e~nafter called Maker without r~gard to number a gender. jointly snd severally PROMISE TO PAY TO THE OROER OF
SOUTHEAST First National Bank of Fort Pierce~ ~
ne~e~natte~ called BANK,
TNEPRINCIPAISUMOF SI~_~Q~~-~II--~Q~I.Q~------------------•-----.--_OOIIARS
in 35 monthly a ments of $923.40. with the firsr payment due on
PAYABIE FP_t1Yt1AY~1Q~ d_~e [ l vmen~ nf ~57 _ 7n7 _ 11 _ beinQ a~~lp~t
~payment due on January 10, 1984.
Interest the~eo~ sha11 acc~ue from the date of fund;ng, camputed on the b~sis ot a 365 dsy ye~r. st the ANNUAL PERCENTAGE
RATE OF ___17__per C@1'lt
INTEREST SHALL BE PAYABLE to~ether_with ~rinciual payments
All payments sl~all !~e applieci first to accrued i~ite~est a~ui t1~e~~ to principal. Interest wil. aecrue at the rate of 1/365th of annuai
~nterest for each efay that principal is outstanding, but in no event shal) inte~est be ciue at a rate in excess of the highest lawful rate.
W~thoui limiting the generality of the foregoing, and notw~tf~standing any oral or written agreement, no deposit of funds sha~~ be
reyuired in connection u~rith this loan in an amount vtihicl- wil{, when deducted from the principal amount outstanding hereurxler,
cause the rate of interest hereunder to exceed the max~mum Iawful ydte.
If a~y payme~u ~s not made ~n full when due, the entue unpa~tl pr~nc~pal and ~ccrued inte~esi, less any unearnrd ~nterest and any
~nterest in excess o~ the rnoR~mum allowed by !aw anci any rebates requi~eci by law, shall at the opt~on ot the holde~ become
~mmediately due and payable ~v~thout rotite. Fa~ture to ezerc~~e tlie optio~ shafl ~~ot co~stitute a wa~ver of the wbsequent right to
F~xercise. AfTER MATURITY. INTEREST SHALL ACCRUE ON THE DELINQUENT PRINCIPAL BAIANCE AT THE HIGHEST
LAWFUL RATE OF INTEREST OR, IF NO MAXIMUM RATE 1S PRESCRIBED 8Y LAW. AT 189i6 PER ANNUM.
As security ior thr payment ot this note, 3r-ci any renewals, extensions or moti~tications tfiereof, and any other liabd~ties of the
F.IAKER to the BANK, hu~vever or whenever createct, MAKER I~eret~y grants to the BANK a security interest in:
property located at 405 Ixoria Avenue, Fort Pierce, Florida, more parti-
cularly described in mortgage of even date.
PREPAYMENT IN WNOLE OR IN PART AT ANY TIME, WITHOUT PENALTY, IS RESERVED
BY MAKER.
L~hether ~N Rp1 S(1CC~~+C ptOpB~tY K dCStnbed above dS 3dd~Uund~ at'i u~~fy 10~ IhP ~•ayme~ <<~~ 1h~5 NOi@ dfly renewals, e^tens~ons o~ maf~hca~~ons
•~~e~eot, a~x1 any o~he~ ~~:fbd~t~rs of MAKER tu BANK, ho~vr ~~~ whenrva rea:ed. 61AKER hc~e~~y plecfges w BANK any and aN prope~ty of MAKER
no~ or he.eat~a cfe~~ver~f ~o o~ Ie}~ m or com~ng ~nto ~he pn se~un, ~ onn~~t o. cus~alY of BANK, whe~her expressly as Collateral secur~ty or lor any
othl~ pu~pPi! (~M~ud~n9 cash. stoc~. and 01hN d~vWl~di, ancl all ~s ro wbu~~lx io~ ftCUrtUlS ~nC~dlfll t0, dedared, or graotMd ~n Connechon w~th suth
n~opertyl, and prope~ty ~fex~~bed ~n co~la~aal .~ce~pn u~ ot1s~~ wnems syned o. lum~she~l 6y the MAKER, a~-A any and all .epfxemems of any of
t~~e ~orlgoing, whetAt~ o~ nol ~n Ihe pOfflsseon 01 Banl. All such opC+ty d~t! any OIhN V~W~+~V ~ur~ng ma4e~'s ~~abd~ha to the Bank ardl he~eatter
c~e ~elerred to as °the Collasc~•it." The Coll~taal n afw p~eiSge~t as secu~~~y for a1~ ot~e• Iia1~il~~~es (Prlmary. seco~da~y, d~rKt, tunlingeM, solC.loim o.
rve~all, due or ro ~xcome due o~ wb~ch may be he~ea cnnuac~e~f o~ xqwr~d, of e.+ch Make~ I~nclud~ng each Make~ and any othe• persoM ~o gANK,
.•.hQthl~ wch I~ab~ht~es .+~+se ~n 1hC ~~ti+nJry COU~S! Cf b b~Si o~ not, H~yht ~s h!~lby !-P~tiily y~anted to ~he BANK at ~ts opuon ~o ~~anste~ a~ any ~~me
,~~self o~ ia ~ts nom~nee .-ny Cau~~eta1, and to rece~re h~ncunie tht~eon ~nc; huW Ihe same ns secunty Aen~or, or apply rt On tht p{~nc T»~ Or ~nte~est
•.e hrreo~ or due on any ~~ab~l~ty Sctu~tY1 he~eby. The 8 may com~nue ~o hold any ~~~Ige~l p~ope•ty depns~~ed he.eunAe~ alter the payrt~e~t ot M~s
~-~:e. ~f a~ ~he ume oF ihe peymen- ,nd d~scha~ge here~~~ an f th.~ parues hat.le ~o~ Ihe payment Aereof shall be the~ d~rettly o~ con~~nyenUy Isab~e ~o
~~~e BANK as ma-.e~, erxto~se., w~eir o~ guarantor of anv <~thc~ no~e. :S~aN, b~N oS ~xchange, or o~he~ mstrument, o~ oth~rw~se, and the BARlK may there-
~'~e~ e•eruse the ~~g~~s.,r+~h •asyKt to sa~ plecfge~l p.operry gramecl he rm~even thougb th~s no~e shatl have txen sunencllreA to the h1AKER.
1! ~s ~O~~t~y orxf sew•~afly cov~•n~~med and aq~eed weth ~hr Bank b e,,th MAKER, endwvr., s~~rety, 9u87J~1(O~, d~lA Ufh!( ~~arty IO th~s notC (atl O~
.vr,om are herruiatrer lo. brev~ty c:~ttrdOb~gor or OW~gu~s) tnat
t Atld~tn)ng IU, ~~rfrJN~S. ~~'AuCt~OnS Or PtChdrl~'f ~ O~ St~lu'~on 10r Ih~ COIIdIC~~lI, p3y~~w'~~tl OI~ aCCOUn~ OI th~S IOan Or ~nC~CdSB: of Ihr wme•. Or
•,•ne~ Ioans m~de p,unaliy ~r wholly upo~ the CoNater may Irom nm} ~u t~me br ma~te .v~thuui ..lleus~g the prov~s~o+~s ot fh~s note o. ~ne ~~~b~ht~NS oi
any party he~Eto. Bank shall exeruse reasoosWe cu~ in e c stody and pressrration of th~ Co~later~t ~nd fhilt be deemed t~ have exerc~sed reasonat~le
care ~f -t takes such acUOn to~ ~hat purpose as MakN sha1~ re oaWY re~iuest m writ~np, Lut no om~ssion to comply w~th a~y request of Maker sh01I o~ ~t-
seN ba detmed a tadure to exerase reasonable car~. W~1hou~ hm~t~ng the generalny af th~ forego~ng, ths Bank f!-sll haw no respons~b~hty 1or ascerta~nmg
any matunues, ca~ls, tonve~s~ons, exchan9es, offers, tenders w s~m~la~ matt~rf I~lat~ng t0 any O~ th! CO~~~tNil,nor tor inlaming the unders~gned v~n~h rr
spect to ar-y the*eot. BANK sha1~ not be bound to take any s~eps ~eccssary io preferve any r~ghts ~n the p~edged property aga~nst W~or parties, and
h1AKER shall ~ake all necessa.y sreps lor wcli Qu~poses. BANK o. ~ts nom~nel M!d nOt Cdlett ~Ml~ttt On Ot ptieK~pat OI any p4edged pruperty o~ g~ve
eny nOtK! whh rltpltt tp ~t, ~
7 Upon tAe happrn~ng ot any o1 Ih! }OIIO n9 lvtntt_ C h O) wh~~h Sha~~ CO»St~W[! d d"I.lull her[u'.Cffr. Or d the COSldLF~d1 ~t,a'f at a~ ~ i~me txcome
:msat~s~acto~y t0 BANK, or ~1 BAPSK sna~~ at y I~rw Aer ~tu'll ~nspru~..d~ hab~~~nesof ea~h Maker to BANY,_ w~+erh~•r q. nut ey~tt~r~ed !iy 11.~• nntt,
na~l thereupon o~ thereaftrr, at tt-e opt,on ot !C. w~ out „ot~ce~ o~ demand. becortie ciu.~ .ind paYablP ~~I }edure ot an~ Obl~~~r to :~rrlorm any
„~~eement herrunder w ~o uay ~n ~u~~, when due, any d~~y whatsor~ve+ tv BANK o~ any ~r~u..}~ment therrof Qr ~n[f~~•St thprrp~~. ib~ the A~aih ot ,~ny
b~~go~, Id the I~hng ol any peuaon undE.r the 8ankruptcv /~ct_ o~ .~r~Y s~m~~a~ f~pral pr slatr sratutl. bY ur ~9a~i~st Jny OW•qo~ Id~ o~~ .+pp~,c~ho~• to~
-•,~ apppmtmpnt uf ,f .rn•~ve~ tor, the mak~ng o~ a general asi+gmsw.+t fw tt+r benll~t o1 t~cd~to~t by, or the insolven~y u1 any Ob~~or. ~r1 the enny ol a
~.~lgmen~ aga~ns~ any Ob~~qor. 1~1 tne nswng ol any attachmems oi g.+rn~shment, or ahe 1~h~q ul any 4en. aga~nSt MY S+rQ[te~ty of ,~.~v Obt,9o.. Igi ~he
•..F~ng ot ppssess~o~ of a~~y x.bs~.+n~~,d part o~ IAe Wot~~1y o~ any Ob~~~,r ~t ~he ~nstan~e o} any governmenta~ authonly. (h1 cn~ ~f~cu~~ut~on, mcrq.~~,
~~nwi~ddlwn, O~ ~ea~g.t~uta~~on of a~y Obl~qor, (~) tht ctrtrrm~nal~o~ W BANK that a~nalrna~ adve.fe thange h,~s occuned ~~ Ihe /~n,fncral ~pndrt~0~ O~
~~~t Obhgor Irom thr co~~d~hons set lorth ~n 1he moSt rrtent t~nant~a~ statrment ol such Ob~g~r h.•retu~ore lu~n~shecf to BANK, o~ from ttie cond~~~v~: ot
uc-~ Obtgor as herrtolore most recPntly d~selosed to B~+NK ~n a~~y manner, o. ~nat any warraniy..ep.esentanon, cert,l~cate or S1atPine~nT Of any Uh~~qo~
~+vnetne~ conla~r.ed ~~~ ~h~s nuf~ o. nO~) pCt~d~mn9 10 O~ ~n c~~~~~PCt~o.. w~~h th~s Rote a ~he toa~~ rv~denced bv -h~s nore +s •~or truc•. ii1 ass•p~~menr Uy .~ny
•.tAKER OI Jny Pqu~fy n~ ,~rty O) IhC pled~ld COllallydl w.thOVt IhP w~,tt~n consent of BANK. Ik) (3durr t0 A•J d~~ ~h~ny5 ~C[r.SSO~V tu prnSviYp ;~rid
:a+nta~n tfie vafur and couect~b~~~tY of tne Co~lateral, ~nc~ud~nq, tx~t n01 I~m.~ld ~o, ~ne ua~m~nt o1 ~axes and p~e~~,~ums o+. VCht.P: of ~ntiu~ante On Iht
r.,e date w~thout ben~l~t o~ t~w q~.xr tx~~od
THE PROVISIONS ON THE REVERSE SIDE ARE A PART OF THIS NOTE
Address ___ •jACUBSON-REA~INC.
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