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demand, be accelerated and become immediately due and payable:
~(a) Failure o€ any maker to pay any interest or principal under
this Note or other obligation herein when demanded or within
15 days of when same becomes due, (b) Any warranty, repre-
' se-
ntation or statement made or furnished to Payee or on behalf
i of any Maker in connection with this Note to induce Payee to
make a loan to Maker proving to have been false in any material
~ respect when made or furnished; (c) The death, dissolution,
~ termination of existence, insolvency, business failure,
~ app~intment of a Receiver for any part of the property of,
;-Assignment for the Benefit of Creditors by, or the commencement
~ of any proceeding under the Bankruptcy or Insolvency Laws by or
against, any Maker; (d) Failure of any corporate Maker to main-
tain its corporate existence in good standing; (e) The entry of
any judgment or the assessment and/or filing of any tax lien ~
against any Maker; the issuance of any writ or garnishment,
replevin or attachment; or the filing of any lien against any
~'l property of, debts due, or rights of, any Maker, to specifically
f include commencement of any action or proceeding to seize nanies
` of any Maker on deposit in substantial part of the property of
I any Maker at the instance of any governmental authority; (g)
~ Assignment or transfer by a Maker of any intere~t in the
~ property .of collateral. which secures this Note, without the
written consent of Payee; or (h) Any default under the Mortgage
1 by which this Note is secured. ~
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' This Note is secured by a Purchase Money First Mortgage of
even date herewith executed and delivered by Maker, in favor of
Payee, encumbering properties in St. Lucie County, Florida. The
prov i s ions vf th is Note and the prov i s ions of the af orement ioned
Mortgage shall be co nstrued according to the laws of the State
of Florida. Whenever possible, each provision of this Note
shall be interpreted in such manner as to be effective and valid
. 4 under applicable law, but if any provision of this Note shall be
( prohibited by or invalid under, applicable law, such provision
shall be ineffective to the extent of such prohibition or
ij invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Note.
I The Maker and all endorsers and guarantors of this Note
ji hereby waive demand, presentment, notice of non-payment,
Ilf dishonor and rotest and a ree in case suit shall be brou ht
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` for the collection hereof, or if it is necessary to place the
~ same in the hands of an attorney for collection, to pay reason- !
~ ~ able attorney's fees in accordance with provisions for the same ~
E ~i provided hereinafter.
s
I ji All parties liable for the payment hereof consent and agree
that the granting to the Maker or to any other party of any
extension of time for the paymerit of any sums due hereunder, or
for the performance of any covenant or stipulation herein or in
~ the Mortgage securing the loan represe~ted by this Note, or the
~ release of the Maker or any other party, or the agreement of
I Payee not to sue the Maker or any other party, or the suspension
~ of the right to enforce this Note against the Maker or any other
~ party, or the discharge of the Maker or any other party, or the
~ ~ taking or releasing or other or additional security, shall not
~ in any way release or affect the liability of the Maker and/or
a of the endorsers or guarantors of this Note, all rights against r=
~ such parties being expressly reserved. I
~ i;
, This Note may not be amended or modified, nor shall any
~ waiver of any provision hereof be effective, except by an
! ~l instrument in writing executed by the holder of this Note.
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i Maker hereby waives a trial by jury and the right to intez- ;
$ _ pose any counterclaim or offset of any nature and description in '
~ ii any litiqation between any Makers or Maker and Payee with
il
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