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PRpMISSORY NOTB
North Palm Beacb, Florida !!ay 7, 1984
l. For value received the undersigned promisea to pay to the
~order of SSCURITY AND INVESTI~lENT CORPORATION OF THB PALM
BBACHSS, the principal sum of $13,500.00------------------------
TBIRTESN THOUSAND-FIVS HUNDRSD AND NO/100----------------Dollars
together With interest from date at the rate of 15.63t per annum
on all u~paid balances. iNTBRBST ONLY shall be payable in
monthly inatallments of ONE BUNDRBD SSVBNTY FIVE AND 84/100-----
($175.84), per month, beginning on the 15th day of June, 1984.,
and on the 15th day of eacti and every month thereaft~r until the
15th day of !lay,•A.D. 1987, at whfch time the entire balance
shall become due and payable.
2. Said payments shall be applied first to intereat on the ~
unpaid balance at the rate herein specified. Interest for each
calendar month shall be accrued on the first day of said month
and be computed o~ the unpaid balance of principa]. and interest
existing on the last day of the preceeding month. Thie note
shall be consfdered in default when any payment~required to tie
made hereunder, and any additional advances under this note or
the instrument securing same, ahall not have been made within
te~ (10) days following its due date and shall remain in default !
until said payment shall have been made. While in default this
note and any additional advance$ under this ~note or the ;
instrument securing same shall bear interest at the maximum
~ legal rate permitted in the State of Florida in lieu of the rate
~ hereinbefore specified. This note is secured by a SECOND
mortgage of even date. '
3. This note may be prepaid at any time after six months from
f date hereof with the payment of 38 on the then unpaid principal
~ balance. THIS NOTE MAY BE PREPAID AT ANY ~I!!E WITBIN SIX MONTHS
OF THE DATE HBREOF WITHOUT PENALTY. The payment of any larger or
additional sum in advance of the payments herein required shall
not relieve the maker of the payment of the regular monthly
installments herein provided. ~
4. If the effect of any part of the loan transaction evidenced
~ by this note resul.ts in interest (or charges deemed to be
F interest) paid or to be paid to the holder, being in excess of
~ the permissible civil usury limits as established by the laws of
` the State of Florida, then such excess will be promptly
refunded. ~ ~ .
~ 5. Al1 ersons now or
~ p hereafter becoming parties hereto jointly
and severally waive demand, notice of non-payment and protest, . ~
~ and agree that in the event.of default in the payment of any '
~ installment due hereunder for a period of ten (10) days, the
~ whole of said indebtedness shall thereupon at the option of the
~ holder, become immediately due and payable, and if this note
` becomes in default and is placed in the hands of an attorney for
~ collection, to pay reasonable attorney's fees and .all other
~ costs for makin - ch collections. This note shall be the joint
~ and everal. lig tion of all makers, ~fireties, guarantors and
~ end rs__ s_ an ahal be binding upon tt~m, t~heir s personal
~ te es~e tat ves, s cdessors and assig~s. , _
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''~6:~T l'~ en s n?ade to the moit ' f r r ts as to
'3 ~~ccc r~ n of the ihdebtedness eviden, d bp s note.
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3~ So , President Dou s Sousa, Individually
' '-b0 ~ INVEST!lSPTPS CORPORATION 6SS1,~
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~ ~Y --7 P 3 :31 `
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!~31 919
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