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US $7,000.00 STUART, F'LORIDA
JANUARY a~, 1990
FOIt VALUE RECEIVED, the undersiyr~ed promises to pay to
M~NDER, INC., a Elorida corporation, or order, the principal sum of
S~VEN THOUSAN~ and NO/100 DOLLARS i$7,000.00), together with interest
thereon f rom daY_P at t.hP ratP nf TFN t~ n=~~nx~ ~ p~`R(`~A1T .-.o.-
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maturity. Said principal and interest due thereon to paid in monthly
installments of ONE HUNDRED FORTY EIGHT DOLLARS and 73/100 ($148.73)
with the first payment due on the da..d day of February, 1990 and
monthly thereafter until the ~a.~ day of January, 1991, at which time
the entire outstanding principal balance, together with interest dtie
thereon shall he du~ and payable in its entirety. Al1 payments shall
be made to Munder, Inc., a E'lnrida corporation, at 1948 S.E. Port St.
Lucie Blvd., Port St. Lucie, Florida 34952, or at such other place as
the holder hereof may designate in writing.
This obligation may be prepaid without penalty.
If any monthly installment under this note is not paid when
due and remains unpaid after thirty (30) days, this note shall be
considered in default and the entire sum of principal outstanding and
accrued interest shall be due and payable at the option of the note
holder. Interest due during default shall be EIGHTEIId (18.OOX)
PER CENT per annum.
Each maker and endorser severally waives demand, prot:esL and
notice of maturity, non-payment or protest and all requirements
necessary to hold each cf them liable as maker and endorser.
Each maker and endorser further agrees, jointl}~ and
severally, to pay all costs of collection, includiny a reasonable
attorney's fees in case the principal of this note and any payment on
the principal or any interest thereon is not-. paid at the respective
maturity thereof, or in case it becomes necessary to prot.ert the
security hereof, whether suit be brought or not.
This note and deferred interest payments shall bear interest
~ at the rate of EI(~iTEII~' (18.00~) _ PER CENT per annum f rom
; maturity until paid.
;
j The mortgage executed of even date herewith to secure to
repayment of the monies due hereunder shall be construec3 and enforced
~ according to the laws of the State of Florida; upon default in the
payment of principal and/or interest when due, the whole sum of
! principal or interest remaininy unpaid shall, at the option of the
~ holder, bec~me immediately due and payable. Failure to exercise this
~ option shall not constitute a waiver of this right in the event of. a
~ subsequent default.
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` . QUAIL HOMES, INC, ,
~ ~ ~ , : ~ D a Florida corporation
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` GARY J . S7R~ _ ,
President ~ .
Makers address:
574 S.E. Port St. Lucie Blvd.
Port St. Lucie, Florida 34984
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