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default under this Note or the Mortgage as amended from time
to time.
AIl payments shall be first applied to payment of
accrued and unpaid interest and then to payment of princi-
pal. Payments shali be made at 340 Hawthorn, Glencoe,
Illinois 60022 or at such other place as the holder hereof
may designate from time to time in written notice to Maker.
This indebtedness may be prepaid at any time
without penatty or premium in whole or in part.
Payment shall be made in legal tender of the
United States. This Note may not be modified orally but
only by an agreement in writing signed by the parly againsL
whom enforcement of any waiver, change, modification or dis-
charge is sought. AIl parties to this Note, whether maker,
principal, surety, guarantor or endorser hereby waive pre-
sentment for payment, protest, notice of protest, demand,
filing of suit and diligence in colfecting this Note or
enforcing its terms and wa~ve notice and demand.
AIl endorsements and/or guaranties of this Note
shall have the same effect as though the endorser and/or
guarantor were the primar~y obligor on this Note and Payee
need not seek to enforce its remedies or exhaust its re-
medies against any maker, endorser or guarantor of this Note
prior to proceeding against any other maker, endorser or
guarantor, as a prime obligor, in the event of a default
under this Note.
,
Payee shall be entitled to be reimbursed for all
costs, fees and expenses incurred in collection, including
withbut limitation, reasonable attorneys' fees, which it may
incur, whether incurred in -settlement, suit or appeals.
Each endorse~ and guarantor hereof consents,
without notice, to any and all extensions of time, changes .
in term of payment, or any other modifications made in the.
terms hereof and each endorser and guarantor agrees to
. continue to be liable to pay the amounts due hereunder with
i interest at the rate herein indicated, as and when due.
~
The provisions of the Mortgage as amended f rom
f time to time are ~i~corporated herein by reference and a
' default under the terms of the Mortgage as so amended shall
be deemed a default hereunder. In the event of a defaulL
f under this Note or the Mortgage, as amended, the entire _
indebtedness evidenced by this Note shall, at the option of
~ Payee, acceterate and become due.and payabte.
,
~ After default, interest on the unpaid principal
~ amount of the indebtedness evidenced by this Note shall ~
; accrue and be payable at the maximum rate allowed by Florida ~
! law. ~
` , 1981.
S i gned th i s day of .
; (
~ tJCEAN HARBOUR OF NrJRTH BEACH *
I Si~S4O'7 DEVELOPMENT CORPORATION , ;
a Florida corporation
' 1°31 I S :!1. 3~ ~ ~
I (Previously known as OCEAN HARBOUR
' ~ : ~ ~ ' DEVELOPMENT CORPORATION )
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BY: C~~~~ (seAL) ~ .
AN H. ~ ~ , Pre ent ,
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BY ~ ~ . ,
. S , ecreta y
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