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; 301,100.00
i~liami, Ftorica
rlarch 4, ~ ~ g 81
FOR VAIUE RECElVED, Lhe unCers"sg~ed, jo+ntly and severally, prcmi;e to pay to the
order of P~.'I'E CLF~'~CX1S
the principal sum of Three Hurxired One Th~ousand, One Hurx~red Dollars.
together with interest thereon f~om date at the rate of nine peroerit (9$) per annun
as follvws:
Ornmencing on March 4, 1981~ t~z~e shall be three (3) ~nnual instalL~nts
of interest only, as oor~uted on the outstanding principal balance. Qa~mencing on March 4,
1985, there shall be nine (9) ec~ial annual instalLr~its of principal in the aarount of
$33,455.56 each, plus interest on the outstanding principal balance, with the last such .
installment of principal plus interest being due and payable on March 4, 1993.
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This Note may be prepaid in whole or in part at any time without penalty. This Note is
c=Yecuted by Ralpti Pelaez, not personally, but as Z'rustee, and nothing herein vontained
shall be vonstrued as creating any personal liability ori Falph Pelaez or on any beneficiaYy
for whom he is trustee to pay this Note, and each original and suc~ssive halder hereof
shall look solel~ to the real property encunbered by the mortgage securing this Note for
any rec.~eovezy or repayment d4~ ~reunder or under such mortgage.
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SL LUCIF CCUYf Y.f l.1.
ROGER Pp~tRA5
fLERK C14CUlT CiWRT
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519U9p
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Upon failure to pay any instailment within 30 days of the due date thereof, the holder
may, at its option, accelerate the maturity and the unpaid principal balance plus accrued
interest to date of default shall thereupon become due and payable without demand or -
notice. ' ~
Payable at such other place as the payee or ho{der hereof may hereafter ~designate in writ-
ing in lawful money of the United States of America.
Each maker and endorser severally waives demand, protest, notice of maturity and non-
payment and all other requirements necessary to hold each of them liable as makers and
endorsers.
Each maker and endorser further agrees, jointly and severally, to pay all costs of col-
~ectian, inctuding a r~asonab{e attorneys' fee, in case the principal of this note or any
principal or interest payme~t is not paid when due, whether suit be brought or not. Such
attorneys' fees include both trial and appeltate attorneys' fees.
while in default, this note shall bear interest at the rate of eleven percent (11$)
The provisions of this note and the mortgage of even date herewith securing same shall be
ccnstrued and interpreted and atl rights and obligations hereunder determined in accord-
ance with -Ftorida taw. • ~
~n no event shall interest (including any cha~5e or fee held to be interest by a court of
ccmpetent • jurisdicti~n ) accrue to be payable hereon in excess of the highest contract rata
allowable by law for tf~e time such indebtedness shall be outstanding and unpaid, and if by
reasan of acceleration of maturity of such indebtedness, or f~r any other reason, interest
;n excess of the highest legal rate shall ~be due or paid, any such excess shall constitute
and be treated as a payment on the principal hereof and shall operate to reduce such
~rincipal by the amount ot such exc2ss, or if in excess of the principal indebtedness such
excess shalt. be refunded to the maker.
. lSeal)
Ralph Pelaez, as Trustee anc~ not
E~iIBIT "B„
personally
(~ (Seal )
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