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. Riversids National 9~nk Nots Numbe~
ON THIS ZElUl DAY OF ~ Juiy ~g 84 FOR VALUE RECEIVE~. THE UNOERSIGNEO
hsreinahe~ callsd "Makar" w~thout regard to numb~? or p~nd~r, jointly •nd sev~rslly PROMISE TO PAY TO THE ORDER OF
RIVERSIDE NATIONAL BANK OF FLORIDA 2211 OkeechoDee Rd. Ft. Pierce, Fl. 33450 '
here~nahs~ callsd "Bsnk."
FORTY FIVE THOUSAND AND NO/100----------------~~___________
THE PRINCIPAL SUM OF DOILARS
in qudrterly interest-only payments, beginning on October 30, 1984, and one
PAYABLE i a~~a~y~nt c~f_Rrinc{~ al anri a~rruPr~ intPrPCt r~e~P nn _TanuarT ~(1~ 19R5_
Interest therson shall accrue from the dat~ ot tundm~. comput~d on the bas~~ of a 385 day yser, at the ANNUAI PERCENTAGE
RATEOF 15.00 percent _
INTEFiEST SHALL 8E PAYABLE ~arterlv. beginning on October 30. 1984
All psyments shall Ds spplisd tirst to accrued intsrsst ~nd thsn to principal. Interest w~ll accrus at ths rsts of 1/386th of ~n~uN intersst
~or eech day that principsl is outstsnding. but in no ~wnt ~hall int~nst b~ dus at s rate in excess of tM highsst Iewtul r~ts. Without
limrting the gensrality oi the foregomg. ~nd ~othwith~t~ndin~ ~ny orel or writtsn agrsement, no deposit of funds shall bs rsquired in
connection with this loen m en emount which witl, whe~ d~duct~d from tAe principal amount outstandinp hsrsundsi, caus~ the rste of
~nterest hereunder to exceed the maximum lewful ate.
If any payment is not made in full when dus, ths s~tirs unpsid principal and accruad interest. Isss any unsamsd intsrest and sny
~nterest In excess of the meximum ellowsd by law snd sny rsb~tss rsquirsd by lew. shall at the option of ths holdsr bsCOms immediateiy
due and payable withou! notice. Failurs to sxsrciss ths option shall not constitute a waiver ot the subsequent nyht to exe~ciss such -
option. AFTER MATURITY. INTEREST SHALL ACCRUE ON THE DEUN~UENT PRINCIPAL BALANCE AT THE HIGHEST LAW~UL
RATE OF IkTEREST OR. IF NO MAXIMUM RATE IS PRESCRIBED BY LAW. AT 1896 PER ANNUM.
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As security (or the payment of this note. snd any nnew~ls, extsnsions or modifications thereof. a~d any othsr liabilities of ths Maksr ~
to the Bank. howevar or whenever c~eatsd. Meksr hsreby prants to ths Bank a secunty interest in: Lot 15, Block 271, PORT
ST. LUCIE SECTION THREE, according to the Plat thereof, as recorded in Plat Book 12, pages 13A
tFirough 13I, of the Public Records of St. Luc ~ounty, Florida.
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THIS LOAN IS PAYABLE IN FU",.L AT THF END OF 6 S. YOU MUST REPAY THE ENTIRE PRINCIPAL
BAi.ANCE OF TtiE LOAN AND UNPAID INTEREST TH D. THE BANK IS UNDER NO OBLIGATION TO REFINANCE
THG LOAN AT THAT TIME. YOU WILL THEREFQRE~ REQUIRED TO MAKE PAYMENT OUT OF OTHER ASSETS YOU
MAY OWN, OR YOU WILL HAVE TO FIND A LEN~ER WILLING TO LEND YOU THE MONEY AT PREVAILING MARKET**
Whether p not spsafic propsrty ~s dexnbsA ~bovs. ~s Wditanal s~cunty ~jp~ p~yrrNM p} th~s Nots. any renewils. axtensanf w rtqdhut~ons tfw~of. ~nd any otAN
hab+ht~es ol Maker to Bank. howwa or wAensvsr crsat~d. MskK MrWy p{~dp~s to B~nk ~ny and ~N props.ty ot Maks~ now or hsrsaha d~Mwnd to or 1~h m or tomirp
~mo ~he posssssan. connd or custody ol B~nk. wMtl+w up~saly ~s cdl~tuN s~wrny w la u~y otMr purposs (u~clud~ng cssh. sto~k and othK bvda~ds. ~nd ~q nyht~ to
subscnbs Iw secunu~s nad~nt to. d~clusd. or prsnt~d m eoiwwaan Mnth wcA prop~rtyl. and proparry deur~bed ~n coUaia~) racs~pts a othw docum~nts s~pn~d or
fwrosRSd by tM M~ker. and ury ~nd all rsplsums~ts ol ~ny ot tM Iwppnp. wMth~r p~ rqt ~n tM posssss+on ot Bsnk AII suctl propwty ~nd any pth~ prcpKty s~curinp
Maker's Aab~l~tms to tAe 8ank wJl nsrasher De rets~rsd to ~s "tAa CoN~t~r~l " TM CollatuN ~s ~ISO plsdpsd as secunty fw ab oth~r w~b~htMS (pnmary, s~condary, drr~ct.
conu~pent sols. ~an[ a sawral?. due « to bscom~ dus w wtucn m~y b~ A~rufia conv~ct~d or ~cqu~rsd. ot axh Mskm (~nchid~ng wch Malur ~nd any otl~ p~rsw~) to
Bank wAether suth GaD~huss anss ~n il?s ordinary toune of busu»ss or rqt R~pht ~s hw~by ~apr~ssly era~tW to the Bank at ~ts optan to U~nst~r at any urtw to ~IS~I~ a to
~ts nommee sny Co1lat~r~1, aod to rscerve fhe ~neorr» tMr~on ~nd hold tM sarrN u s~cunty Mnfa. w~pply ~t on the pnnapal a u~tsr~st Aw hw~on p dw on any dsb~ty %
j secured nereDy TM BaNi may conbnue to AoW ~nY PI~dO~d prop~rtY d~Pouqd INrwndw ~h~r tM payment ol th~s not~, d~t ths Gm~ of ttN paym~nt uid d~sthsrp~
~ nereol any ol the parUSS b~Dls for tAe paymenl Asrsol sA~ll b~ tMn dwKtly Or conOr?pNitly I~~bl~ to Ihe Bsnk ss maker. ~ndorser. Sur~ty or flwru~tor ot any otlw~ rqH.
! Aiah. bJl ol eachsngs a othsr ~nstrument, oi otAerwa~. ~nd tM 8adt m~y tMtNh~r ~a~rass ihe npMs wiM rospsct to sad pkdpsd prpp~rry 9nM~d herNn av~n Up~ph
tA~s nWe sMll Mw bsen aurrsndsrsd co tM Mak~r
i
~ It is ~antly and sevsrelly covsnanted ~nd ~gr~sd v~ntn tM Bank by wch Mak~r. ~ndws~r, sunty. gusronto~. snd other party to dus not~ INI of whom sr~ h~rwuhK ta s
brevrty cNl~d Obhyor or Obl~gws) that _
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w 1 Addrtwns to. ~eteases. rsductans or eact~angss of a wbsututwns tw tM Collateral. p~ym~nts on account ot tn~s loan or incrsasss ol tM sam~, or othsr Ip~~ n?~d~
uarually w whoily upon tM Collatersl msy from ume to Um~ b~ mad~ rvrthout dt~ct~np tAs prov~s~ons ot th~s note or tAe tiab~IrtNS oi any party A~r~to Bank sMY es~ras~ A
~ reaso~abb ure m the custody a~d prsssnauon of ths Co11~ar~1 ~nd ahall b~ dNm~d to haw aa~rc~sed rsssonabb cars ~f u ukss wch ~ct~on for th~t pwpos~ as Mak~r
~ sha:l roasen~W~r rpusst ~n wnt~np. ~ut no om~ss~on to comply wrth ~ny rpwst of M~kv sluu ol ~tssH be deemed e la~lurs to saerus~ rsasonaW~ tW~. W~Mout Ymidnp tM
~ generahry ot tM torsgaog. ths Bsnk sAaU Mve no respons~b4ty Iw ~xMUninp ~ny matunu~s. cdls. cornsrsions. sxchanpes, oHers. t~tW~n or s~m~lu manKS nt~W~p to
~ any of tAe CoUaterel. nw fa ~nform~ng ths unders~pnsd nntA resp~ct ro~ny tMrwf Bank shall not be bound to take any stsps n~tsssary to pr~s~rv~ u~y nphb in th~_
pledpad prop~rty ap~~nst prwr part~es. end M~ksr shall uk~ ~N nK~ssuy st~ps 1p wch purpos~s Bsnk or its nom~nN nsed np~ tq~ct int~rp~ pn pr prncp~ p~ ~ny
~ D~edged WopsrtY w Ww ~rry not~cs vrit~ nspsct to n
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~ 2 Upon ths Mppsrwr?p ot ~ny ol tl~e lollowmg svsms. esch ol wh~ch s1uU cOMG[ut~ ~ d~l~ult herwndsr. or ~f the CoOateral stwll at any t~rt?~ b~cortN wn~W(aCtpry tp
Benk a d Bank stNll ~t iny t~me deem ~1seN msecu~~. e0 l~~Wht~es of ~~ch Malur to 8ank. wMthsr or not evrdencsd by tMs not~, sha0 [Mr~upon a th~r~a(tK, at th~
oplion cl Bank. w+thout not~ts or Oemand becornn due ~rd pay~bl~ lulur~ pl Hfy Obl~pq to perlwm ~ny apreement hsrsundsr a to p~y m tuU. wtNn du~, ~~?y I~aE~Mty
whstsoever to Bank o~ ~ny ~nsts{:ment thereul o~ ~nterost thx~on. Ib) tM dNth ol ~~y Oblqor: Iq tAS hhr~ ol any peutwn undu tM Bankruptcy Act. a s~r s~mdu t~~l
~ a sute suwl• by or spnnsl ~ny 01~1q~ur ldi en rpphceuon (or tM ppanm~nt ol s r~urv~r tor. tM m~?~ng ol a gsnsral azspnmsm tw tA~ O~rwfit ot u~dto~s by or tM
~ mwlvency ol any OWigw. {d IM sntry of a p~a»rrwnt ags~nsl ~ny dblpo?: (!1 tM qswtq OI ~ny ~tt~thments or garrushmanL ot tAs (dnq ot ~ny t~. aqNnst any p~op~rty ol
~ eny Ob4{~rx. lyl tM tNung o1 possessiun n! nny subsl~nUN p~rt d ttw ptop~(1r O~ ~ny OD4ypr ~i lAe msunce ot any qovsrnmsnul suthonry: IA) tM d~ssokrtion, m~rp~r,
` , consol~datron a rwrganuabon ol eny Obnycx Id ths MtNm~tan by B~n? tMt ~ m~t~rN1 Wv~tw tAan9e h~s occurred m tM tuunctN torW~tqn ol sny pbMqpt h.~m ttr
~ . cond~~ans se~ lorth m ttro most recent hnanaal slstement ol wch OW~ppr AK~tolor~ furrnsl~d to Bank, or from ths cor~rtwn oF wch Oblpw u Mnto(as most tac~ntly
~ 6iscloHd lo B~M ~n ~ny rMnrMr. or t~al ~ny wa~r~nty. rpr~nt~twn. prtdrcaq a sut~m~nt ol ~ny Obl~por IwAett»r conq~nW m this ~at~ a not) p~rt~~rwp to or n
~ corx~sctan v~nt~ ~MS not~ a tM b~n ~v~dsMed D thn nou ~s rat trw: (1) •
y urpnm~nt by My M~ksr ol ~ny squily ~n ~ny ol tM pt~dpsd Colt~tad nnthout tM wntt~n
consa~~ ol B~n1~. !kl I~dur~ to do ~u cn~nps t1eCNMfy to p~wM ~nd memuu? tM v~be ~nd cou~ct~Wl~ty ol [h~ CoHaa»I. u~cludW?Q. but r?ot ~~rtnad
to. the paYment ol axsa ~nd premwms o~ polw~~s of ~nwrsnu on tM dw d~t~ w~thout D~re~frt of th~ prau psnod
TNE PRUVISIONS ON THE REVERSE SIDE ARE A PART OF THIS NOTE.
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` Sunshine Builders of St. Lucie, Inc.
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: ~ ~ . ~ i
~ Address by" ' ~ ' ' ~'4-' ~ ~EAU
James F. Herndon, President ~
~ by ; C .-.-y' ` ~ . < < . ~ . _ .
TSEAL~
~ ~Joann Herndon, Secretar f
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**RATES, WHICH ru~~ QF rONSIDERABLY HIGHER THAN THE INTEREST RATE OF THIS LOAN,
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r ~ ~ch~ PAGE ~7~
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