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HomeMy WebLinkAbout0935 A M E R I C A N B A N K PROMISSORY NOTE : $ 31,000.00 Stuart, Florida ----June 10 - - - 19_~~.. , FOR VALUE RECE NED, the Undersigned, (jointly and severally, if more than one) promises to pay to AMERICAN BANK OF MARTIN COUNTY or their order, in the caanner hereinafter specified, the principal sum of THIRTY-ONE THOUSAND - and no/100 DOLLARS----------------------------------------- 31 000.00 ) - - - with interest from this date at the rate of TWELVE and ONE-HALF--------------- percent ( 12.50 X) per annum on the balance from time to time remaining unpaid. The said principal and interest shall be payable in lawful money of the United States of America at 4313 U. S. Highway One South~ Stuart, Florida 33497, or at such other place as may hereafter be designated by written hotice from the holder to the maker hereof, on the date and in the manner as follows: Interest only on the principal amount actually disbursed to the Borrower shall be paid in consecutive monthly installments, the first due on the lOth day of the month following the first disbursement to the Borrower and the•remaining installments due on the like date in succeeding months thereafter. On the lOth - day of December, 1983, the entire principal balance with all accrued but unpaid interest shall be due and payable in full. i 148~ ; , . - ~ ~ . . ` 6~~1~ ~ ~ f ~ If the note holder has not received the full amount of any pa~nent by the end ~ of fifteen (15) calendar days after the date it is due, a late charge fn the ar~aunt ~ of FOUR percent (4X) of the principal and inter~sz payment wi12 be charged. Such ~ late charge will be paid only once on any late pay:~ent. ~ ~ ~ This note with interest is secured by a mortgage on real estate, of even date herewith r~ade by the maker hereof in favor of the said payee, and shall be construed and enforced according to the laws of the State of Florida. If defoult be r.~ade in the paynent of any of the su~s or interest mentioned herein or in said mortgage, or in the performance of any of the agreenents contained herein or in said mortgage, then the entire principal sum and accrued interest shall at the option of the holder hereof become at once due and collectible without ~ notice, time being of the essence; and said principal sum and accrued interest shall ~ both bear interest from such ti~e until paid at the highest rate allo~:able under the laws of the State of Florida. Failure to exercise this option shall not consti[ute a waiver of the right to exercise the same in the event of any subsequent uefault. ~ ~ Each person liable hereon whether maker or endorser, hereby ~:aives presentment. protest, notice, notice of protest and notice of dishonor and agrees to pay all ~ costs, inclUding a reasonable attorney's fee, whether suit be brought ot not, if, ~ after naturity of this note or default hereunder, or under said mortgage, coUnsel shall be employed to collect this note or to protect the security of said mortgage. ~ kfienever used herein the terms "holder". "maker" and "payee" shall be constr~ed ~ in the singular or plural as thercontext may require or admit. ~ ~ ~ Maker's Address: ~ Henry Swider, Jr. ~ ^ ~ ~ 303 Seminole Street Stuart, Florida 33494 ~ ~ - Linda }~imsep ' ~~~f ~ EXHIBIT ~1 ~ ~ ~ _ _ ~ ~ - . a,~~~ ~ 1~.~~ < i ~~;s: