HomeMy WebLinkAbout0988 NOT~
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$39,~00.~0 Fort FiPrce, Florida ~
March ].4 , 1986
FOR VALUE RECEIYED, the undersigned, TERESA A. WASHINGTON,
as principal obligor, promises to pay without defalcation to.the
order of CLARENCE F. HALL, the principal sun~ of '~hirty Nine
Thousand ($39~0OO.OQ) Dollars, together with interest thereon at
the rate of ?2$ per annum from March 14, 1985 until maturity,
both principal and interest being payable in lawful money of the
United States in equal monthly instaliments of Four Hundred Ten
Dol.lars and Seventy Six Cents ($910.76) each, with the first
payment commencing on April 14, 1986, and a like sum due and
payable on the 14t~ day of each succeeding month thereafter until
entire sum named is paid in full.
This Nate may be prepaid at any time without penalty.
The principal and interest shall be payable at 1120 Clifton
Lane, Port St. Lucie, Florida 33452, or at such other place or
places as the legal holder hereof shall-from time to time
designate.
This Note is secured by a Purchase Money Wraparaund Second
Mortgage of even date herewith given by TERESA A. WASHINGTON, to
CLARENCE F. HALL, upon real property located in St. Lucie County,
Florida and•collateral thereof, the tQrms and conditions of which
are hereby expressly made a part hereof. .
Each instailment first shall be applied in payment of the
interest and then on the unpaid balance of the principal sum.
Upon default in the payment of any installment under this Note or
in any of the covenants or conditions contained in said Mortgage,
the holder of the Note may, without notice, at his option, declare
all the rerr.ainder of saici debt immediately due and payable and
any failure to exercise this option shall not constitute a waiver
of the right to execute the ~ame at any subsequent time.
The holder of the Note, by accepting this Note, acknowledges
for himself, his heirs, personal representatives, successors and
assigns, that there is ane outstanding promissory note secured bv
a first mortgage dated Jannary lU, 1986 to Rams~y Products
C~rgoration Employee Profit Sharing Trust, recorded on January
13, 1986, in OR Book 488, Page 1155, of the Public Records of St.
Lucie County, Florida, in the original p~incipal afnount of Thir~y
Thousand ($30,000.00) Dollars, and the holder of this Note
accepts responsibility for payment af the aforesaid promissory
note and first mortgage and payments as required thereby as the
same become due and payable, and shall hold the makeE- hereof ~
harmless on account of said pror~issory note.and first mortgage so
long as payments of tY.e maker hereof are timely made on this Note ~
and so long as there shall be no default by the maker hereof ~
under the terms of the aforesaid first mortgage or of the ;
Mortgage of even date herewith ~etween the maker hereof and the ~
payee of this Note. . j
It is f ~
urther agreed t~at the maker a~nd each indorser, d
surety,and guarantor, jointly and severally, shall pay all costs !
of callec.*_ion of this Note, regardless of whether legal ~
~
proceedings are filed, including a r~asonable attorney's fee, l`,;
including a13 costs, ex?ens~s and attorney's fees for any trial, j
xetrial, rehea~ing or appeals, on failure to pay any installment ~
payment or any accrued interest ~ue hereunder on the due date ~
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