HomeMy WebLinkAbout1527 . i
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, PROMISSORY NOTS I
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S11,000.00 ~~~i~~e , Florida
January 15, 1990 ~
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FOR VAI,UE RSC$IVBD, Stephen B. Spindler and Laura J. Hill, huaband and Wif~, ~
jointly and aeverally praniae to pay Blizabeth A. DeFrank, or order, the principal ;
sum of Bleven thousand and no/100 (S11,000.00) Dollars, With intereat fraa date
at the rate of nine and one half l9.5a) percent per annum on the unpaid balance
until paid at 2458 S.E. Elston St.,P~orrt St. Lucie,Fl. 34952 , or any other place
the holder nwy desiqnate in writinq, as folloWS:
Commencinq February 15, 1990, and continaing on the 15th
day of March and April, 1990, makera Will make payments of
principal and intereat in the amount of S 102.59 eacht
THBN
On May 15, 1990, iaakers Will m~ke a payment of 58,088.46 ,
representinq interest for the periocl April 15 to l~1ay 15. 1990,
and a reduc~ion of principal of Sigh~ thousand and no/100
($8,000.00) Dollars;
THBN
Commencinq on June I5, 1990, and continuinq on the 15th
day of each conaecutive month thereafter until paid, makers
Will make equal consecutive monthly payments of principal and
interest of $ 94•52 each.
Each payment Will be applied firat to interest and the
balance to principal. Any remaininq indebtedness, however,
if not paid sooner, Will be due on May 15, 1993. !lakers may
prepay the principal amount outstandinq in vrhole or in part
without penalty.
If any payment is not made within thirty (30) days after it is due, then,
at the option of holder, the entire principal amount and any accrued intereat aill
become immediately due and payable. Failure to exercise the acceleration option
will not waive the riqht to exercise it in the event of a subaequent default.
The makers jointly and severally wai•-e presentment, notice of diehonor and
protest.
The makers jointly and sevcrally aqree to pay all costs of collection, includinq
a reasonable attorney's fee, in case the principal of this Note or any payment
j on the principal or any interest is not paid at its respeative maturity, or in
~ case it becomes necessary to protect the security of the debt, whether suit is
E brought or not. ~
~ This Note is secured by a mortgage of even date and is to be construed and
enforced according to the laws of the State of Florida.
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2776 Semin~le Ad. /
Steph Spin ler
W.pa~m Bea~cfi, Fl. 33405
Laura J. Hill
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