HomeMy WebLinkAbout0973 ;
NOTE ~ f ~
$75,0OO.OQ Port St. Lucie, F'lorida
October 1985.
FOR VALU~ R~CEIVED, on or befoare March 6, 1987 , the
undersigned, RICKEY L. FARRELL, as Trustee, PRESTON HIX, L.
WILLIAM PUI,LEN and UMBERTO D~LUCA, (the "Mak~r") her~by, jointly
and severally, promise to pay t~ the order of First American Bank
of St. Lucie County, at such time oX times ~s provided for herein
or in the Loan Agr~ement dated March 7, 1986 and Modificatio~
Agreement thereto dated October 8, 1486, between the Maker and
the payee hereof (collectively, the "Loan Agreement"), the
principal sum of SEVENTY FIVE THOUSAND DOLLARS ($75,000.00) or
such lesser sum as shall from time to time be outstanding under
the Loans (as defined in~the Goan Agreement) with interest
thereon from the c3ate hereof until the date of maturity at that
r~te set forth in the Laan AgreemenL. The principal evidenced °
hereby toge~her with interest sha11 be payable as pravided in the t
Loan Agreement and with interest after matu~rity at the rate of
eighteen (18$) percent pex annum until paid. A11 payments of
principal and interest are to be made at the office of the payee
at 10000 South U.S. Nighway One, Port St. Lucie, Florida, in such
coin or currency of the United States of America as is at the
time of payment, legal tender for the payment of public and ~
private debts.
This Note is made pursuant to, and is entitled to th~
; b~nef its of the I,oan Agreement and various flther Transaction
~ Documents described in the Loan Agreement betwe~n Maker and payee
~ hereof. Re£erence is made to the Loan Agreement and other
~ Transaction Documents for a statement of the rights of the holder
- oE this Note and rights and limitations of rights of the tdaker.
'Phe Maker agrees to make payments of principal of this Note as
specified in the Loan Agreement. '
The obligation evidenced hereby is secur~d by a Mortgage
described in that certain Mortgage Modif ication Agreement of even
date herewith, ~nd the terms of said Mortgage are hereby referred
~ to, and by this reference are incorporated herein.~ Any default
~ under th~ terms and conditions of said Mortgage shall constitute
~ ~a def ault hereunder.
~ The principal amount of this Note tog~ther with accrued
~ interest thereon may be decl.ared due and payable in the manner
~ and wi~h the effect provided in the Loan Agreement, The Maker
~ and any endorsers and guarantors waive pre~entment, demanrl, f
~ notice of dishonor and protest and any and all other notice and _ ~
~ r~quirements necessary to bind them hereunder. The Maker agrees ~
~ to pay all r~easonabl~ costs a~d expenses in connecti~n with the
enforcement of this Note, including reasonable attorney's fees.
The liability of RICKEY L. FARRELL, as Trustee, is solely
that of Trustee acting for others, and he shall not have personal
liability far any defici.ency judgment on this Note or th~
Mortgage secured hereby.
L. FA L As Trustee
~~--~GC'~.',G~'~-~.. .
PR~ST4N HIX
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