HomeMy WebLinkAbout0338PROMISSORY NOTE
$55,000.00 March 6, 1981 v~3 ~ v Fort Pierce ~ Florida. ~
FOR VALUE RECEIVED the undersigned promis e s to pay to the order of
JOHN E. THOFNER t he principal sum of FIFTY-FIVE THOUSl~ND and NO/100
DOLLARS ($55.000,00), to~+ ether with interest thereon from date, at the
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Commencingone year from the d ~~"reof installments of principal and
interest in the amou ~fi ~$~ 30,pp ~ and a like amount on the same ~f~
day of each succeedi~g~l~ar t ereafter for a period of 12 years and ,~
until sid in full exce t that the last ins lm t e he r'~"J~
p . p tal en du reunde
shall be in an amount necessary to fully pay the balance of principal
and interest due hereunder as amortized under the terms hereof.
Privilege is reserved to prepay this obligation in whole or in part
without penalty.
Each maker and endorser severally waives demand~ protest and notice of
~iatu~ity, t~onpaymen~ or ~ro~~~~ ~n~ a1i ~equiremen~s t~ecessa~y eo holci~
each of them liable as makers and endorsers.
Each maker and endorser further agrees, jointly and severally, to pay
all costs of collection, including a reasonable attorney's fee in case
the principal of -this note or any payment on the principal or any
interest thereon is not paid when due or at the respective maturity
thereof, or in case it becomes necessary to protect the security hereof,
whether suit be brought or not.
This note and deferred interest payments shall bear interest at the
rate of Twelve percent (12~) per annum from maturity until paid.
This note is secured by a second mortgage of even date herewith and
is to be construed and enforced according to the laws of the State of
Florida; upon default in the payment of principal and/or interest due
on the note secured by said mortgage, which shall continue for 15 dayS,
the note so secured and the remaining unpaid balance thereunder, includ
all accrued interest thereon, shall forthwith become due and payable in
full notwithstanding their tenor. ,
By acceptance hereof, payee agrees to pay when due all installments of
principal and interest payable under that certain promissory note given
by payee to WILLIAM F. H. KEIFER and VIRGINIA C. KEIFER, his wife,
which note is dated September 15, 1980, and is in the original principal
amount of $67,500.40 and is secured in part by the property which is
the subject ~atter of the aforesaid second mortgage of even date
herewith securing this obligation. In the event any installments of
principal and/or interest payable under the said promissory note to
WILLIAM F. H, KEIFER and VIRGINIA C. KEIFER, his wife~ are not paid
when the same become due and payable, waker shall have the right (but
not the obligation) to pay such installment due thereunder and to
apply any such payment so made as a credit against the next maturing
installment or installments of principal and interest due hereunder.
Furthermore~ by aaceptance of this obligation, payee agrees to indemnify
and hold harmless maker with respect said promissory note owing to
WILLIAM F. H. KEIFER and VIRGINIA . IFER, his wife.
- ~ ~AUL S. HENDREN
~ .-~ ' - .
{981 NAR -9 1W i i = 55 ~-u- ~ ~~=~. `-
F~~Ee ~hc ~~ ccanrn VIR INIA B. HENDREN
Si LUC~E CCUtITY.ft~.
~tOGER POITRA5
CLERK CIRCUit C~ D
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51955~
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~ ~~K 350 P;~E 338