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demand, be accelerated and become imr,~ediately due and payable:
(a) Failure of any maker to pay any interest or principn~ under
this Note or other obligation herein ~when demanded or within
15 days of whe~ same becomes due, (b) Any warranty~ tepre-
se~`
ntation or statement made or furnished to Payee or on behal.f
of any Maker in connection with this Note to induce Payee to
make loan to Maker provinq to have been false in any material
respect when made or furnished; {c) The death, dissolution,
termination of existence, insolv~ncy, business failure,
appointment 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
' aqainst, any Maker; (d) Failure of any corporate Maker to main-
tain its co~porate existence in goad 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,
I~ replevin or attachment; or the filing of any lien against any
( property of, debts due, or rights of, any .Maker, to specifically
( include commencement of any action or proceeding to seize monies
of any Maker on deposit in substantial part of the property of
any Maker at the instance of any governmental authority; (g)
i Assignment or transfer by a Maker of any interest in the
~ property of collateral which secures this Note, without the
f written consent of Payee; or (h) Any default under the Mortgage
+ by which this Note is secured.
I
i( This Note is secured by a Purchase Money First Mortgage of
i even date herewith executed and delivered by Maker, in favor of
1 Payee,~encumbering properties in St. Lucie Connty, Florida. The
provisions of this Note and the provisions of the aforementioned .
Mortgage shall be construed 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
~ 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 (
~ invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Note. ~
~ e ake a 1 n sers and uarantors of this Note
, Th M r and 1 e dor g
, j hereby waive demand, presentment, notice of non-payment,
M dishonor and protest, and agree in case suit shall be brought
' ' for the collection hereof, or if it is necessary to place the
~ same in the hands of an attorney for collection, to pay reason-
I ~ able attorney's fees in accordance with provisions for the same
provided hereinafter.
' ~
~ 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 payment of any~ sums due hereunde~, or
, ~ for the performance of any covenant or stipulation hereiri or in
~ the Mortgage securing the loan represented by this Note, or the
release of the Maker or any other party, or the agreement of
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 d ischarge of the Maker or any other party, or the F
~ taking or releasing or other or additional security, shall not
~ in any way release or affect the liability of the Maker and/or
~ ~ of the endorsers or guarantors of this Note, all rights against
+ such parties being expressly reserved. ~
" !I
~ 1I This Note may not be amended or modified, nor shall any
~ waiver of any provision hereof be effective, except by an
~ i` instrument in writing executed by the holder of this Note.
; i Maker hereby waives a trial by jury and the right to inter-
` pose any counterclaim or offset of any nature and description in
` I any litigation between any Makers or Maker and Payee with
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