HomeMy WebLinkAbout2455 F
RENEWAL ~
PROMISSORY NOTE ~
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$ 89,278.24 December 29, 1989
Fort Pierce, Florida
For value received, I/We, jointly and severally, promise to pay, without
defalcation, to the order of PIARIDA 1d~TIONl~L HaNR, 501 Orange Avenue,
P. O. Box 3469, Fort Pierce, Florida 34950, the sum of $89,278.24, with ;
interest from the date of disbursement at a rate of interest which shall ~
be a variable rate and shall be periodically adjusted upwardly or
downwardly by reference to the Florida National Bank Pri.une Rate, which I
shall be set and established by the Senior Credit Committee of Florida
National Bank, which rate shall be known as the Index. The interest
hereon shall be at a rate of interest equal to the Index. As of the
date hereof, said Index is 10.5$, so that the initial rate shall be
10.5$ per annum. The interest on this loan will be calculated on the
"Actual Days/360 Day Method".
Payments upon principal and interest shall be payable as follows:
By the payment oj 5619.99 upon principal commencing the 29th day of lanuary, 1990,
and upon the sam~ day of each rnonth thereajter, except Feb~uary which said payment
will 6e due upon the 28th day of Feb~uary, through and ineluding the 29th day oj
Novem6e~, 1992, together with o final balloon payment upon the 29th day of
Decembe~, 1992 in the principal amount of 567,578.59. To each payment of princepal
there shall 6e added all acc~ued, unpaid interest.
Each installment first shall be applied in payment of the interest and
then on the unpaid balance of the principal sum. If default is made in
the payment of any installment when due and such default continues 30
days, then at the option of the holder, and without any other notice,
all the remaininq installments shall be due and payable at once.
Privilege is qiven to prepay this Note in whole or in part at any time
~aithout penalty. Neither forbearance nor acceptance by the holder
thereof after any defaults in payments hereon shall be deemed an
extension. A late payment charge of 5.0$ of the amount of the payment
due shall be added to each installment remaining unpaid fifteen (15)
days after the due date and a similar charge for each installment
remaining unpaid fifteen (15) days after each succeeding payment due
; date.
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i Each maker, surety and endorser hereof, jointly and severally, waives
4 demand, presentment, protest and notice of protest for nonpayment, and
further agrees to any extension of time of payment, either before or
! after maturity, without notice to any of us; and to pay all costs of
~ collection, including a reasonable attorney's fee for all proceedings,
€ trial or appellate, in the event of any default hereunder, and hereby
~ severally waives all benefit of homestead and exemption under the
~ Constitution and laws of each State of the United States as aqainst this
~ obligation or any extension or renewal hereof.
~ Witness the hand and seal of each party.
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~ /s/ James C. Crawford
JAMES C . CRAWFORD
~ /s/ Joanne L,_ Crawford
a JOANNE L. CRAWFORD
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