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HomeMy WebLinkAbout0943 ~ ~ ~ demand, be accelerated and become inmediately due and payable: y~ ( a) F'ailure of 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 ~ 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, I 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 ~ against, any Maker; id) Failure of any corporate Maker to main- ~ tain its corporate existence in qood standing; (e) The entry of any judgment or the assessment andjor filing of any tax lien i~ against any Maker; the issuance of any writ or garnishment, replevin or attachmeat; or the filing of any lien against any property of, debts due, or rights of, any Maker, to specifically include commencemen~ of any action or proceeding to seize monies !I of any Maker on deposit in substantial part of the property of il any Maker at the instance of any governmental authority; (g) Assignment or transfer by a Maker of any interest in the property of collateral which secures this Note, without the ~ written consent of Payee; or (h) Any default under the Mortgage by wh ich th is Note is secured . ~ This Note is secured by a Purchase Money First Mortgage of 4) even date herewith execnted and delivered by Maker, in favor of Payee, encumbering properties in St. Lucie County, Florida. The provisions of this Note and the provisions of the aforementioned ~i Mortgaqe shall be construed according to the laws of the State of Florida. Whenever possible, each provision of this Note '.I 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 ! I~ or the remaining provisions of this Note. ~E I ,j The Maker and all endorsers and guarantors of this Note ~ hereby waive demand, presentment, notice of non-payment, f 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 atterney for collection, to pay reason- ! abl~e at torney' s fees in accordance with provis ions for the same k provided hereinafter. I c 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 hereunder, or ` for the performance of any covenant or stipulation herein or in ~ ;i the Mortgage securing the loan represented by this Note, or the release of the Maker or any other party, or the agreement of ~ ii 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 ~ y' taking or releasing or other or additional security, shall not i k ; in any way release or affect the liability of the Maker and/or _ of the endorsers or quarantors of this Note, all rights against ~ such parties being expressly reserved. ~ + This Note may not be amended or modified, nor shall any ~ : waiver of any provision hereof be effective, except by an ' ~ instrument in writing executed by the holder of this Note. Maker hereby waives a trial by jury and the right to inter- ` ' pose any counterclaim or offset of any nature and description in ~ ~ any litigation between any Makers or Maker and Payee with ~ ; ~ ~ ~ E ~ ~ i ~ + ~ tl~ ~1 pAGE 94~ ~ ~ gooK ~ ~ ~ I .