PROMISSORY NOTE FLORIDA TURNKEY 61 UNIT PROJECT
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PROMISSORY NOTE
$24,990.00
Jacksonville, Florida, August 17, 1981
FOR VALUE RECEIVED, the undersigned, jointly and severally, promise
to pay to the order of the CITY OF CLEARWATER, STATE OF FLORIDA, the principal
sum of TWENTY-FOUR THOUSAND NINE HUNDRED NINETY AND NO/100 ($24,990.00) DOLLARS
with NO interest thereon or on the balance thereof remaining from time to time
unpaid, principal and interest being payable in lawful money of the United
States of America at P..O. Box 4748, Clearwater, Florida 33518, or at such
other address as the holder from time to time may specify by written notice
to the maker, said principal to be paid at the date and in the manner following:
principal shall be payable when a building permit for FL 075-002, Florida Turnkey
61 Unit Project is granted by the City of Clearwater, Florida, or January 1, 1982,
whichever is sooner.
This note is to be construed and enforced according to the laws of
the State of Florida.
If default be made in the payment of any of said sums or interest or in the
performance of any agreements contained herein then, at the option of the holder of this
note, the principal sum then remaining unpaid, with accrued interest, shall immediately
become due and collectible without notice, time being of the essence hereof, and said
principal sum and said accrued interest shall both bear interest at the highest lawful
rate per annum, from such time until paid.
Each maker and endorser waives presentment, protest, notice of protest and
notice of dishonor and agrees to pay all costs, including a reasonable attorney's fee,
whether suit be brought or not, if counsel shall, after maturity of this note or default
hereunder, be employed to collect this note.
Atte42 t;'~
Alvin A. Leitman, Secretary
Maker I s Address:
2109 Gulf Life Tower
Jacksonville, Florida 32207
EASTERN PROJECT DEVELOPERS, INC.
By: /)/ U-d I? /{ ~ ~~
Mi chae 1 A. Ake, res i dent .
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