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EXHIBIT 6.11.2
MORTGAGE NOTE
$182,000.00 ORLANDO, FLORIDA
MAY 6, 1999
FOR VALUE RECEIVED, MIRACOM CORPORATION, a Nevada corporation,
authorized to do business in the State of Florida (hereinafter the "Maker"),
promises to pay to XXXXXXXXXXX INVESTMENTS, INC., a Florida corporation
(hereinafter the "Payee"), in the manner hereinafter specified, the principal
sum of ONE HUNDRED EIGHTY TWO THOUSAND AND NO/100 DOLLARS ($182,000.00), with
interest at the rate of nine and one-half percent (9 1/2%) per annum on the
balance from time to time remaining unpaid. Principal and interest shall be
payable in lawful money of the United States of America at 000 Xxxx Xxxxxxx
Xxxx, Xxxxxxx, Xxxxxxx 00000, or at such other place as may hereafter be
designated by written notice from the Payee to the Maker. This Note shall be
payable as follows:
Monthly payments of interest only in the amount of One
Thousand Four Hundred Forty and 83/100 Dollars ($1,440.83)
shall be due and payable commencing on September 1, 1999, and
thereafter upon the first (1st) day of each consecutive month
thereafter for the next five (5) months. The first payment due
on September 1, 1999 shall be a prorated amount prorated from
the date of execution of this Note through January 30, 1999.
Monthly payments of principal and interest in the amount of
One Thousand Nine Hundred and 49/100 Dollars ($1,900.49) shall
be due and payable commencing February 1, 2000, and thereafter
upon the first (1st) day of each consecutive month thereafter
during the term of this Note. Such payments are amortized over
fifteen (15) years.
The outstanding principal balance of this Note, plus any
accrued but unpaid interest shall be due and payable in full
on July 31, 2002; provided however that, if any interest in
the real property securing this Note is transferred or
conveyed (other than a transfer or conveyance to an affiliated
entity) all principal and interest shall become immediately
due and payable at the option of the holder of this Note.
This Note may be prepaid in whole or in part at any time without
penalty. Any such prepayment shall be applied first to unpaid interest, if any,
and then to principal. Interest hereunder shall be calculated on the basis of a
year consisting of three hundred sixty-five (365) days.
This Note, with interest, is secured by a Mortgage of even date
herewith, to be recorded in the Public Records of Seminole County, Florida,
executed by the Maker in favor of Payee ("Mortgage").
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In the event any payment or any portion of any payment is made more
than fifteen days after it is due, there shall be a late charge in the amount of
five (5%) percent of the scheduled amount due.
If default be made for thirty (30) days after receipt by Maker of
written notice from Payee in the payment of any of the sums or interest
mentioned herein or in the Mortgage, or in the performance of any of the
agreements contained herein or in the Mortgage, then the entire principal sum
and any unpaid accrued interest shall at the option of the Payee become at once
due and collectible, time being of the essence; and said principal sum and
accrued interest shall both bear interest from such time until paid at the
highest rate allowable under the laws of the State of Florida. Failure to
exercise this option shall not constitute a waiver of the right to exercise the
same in the event of any subsequent default.
Maker hereby waives presentment, protest, notice, 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, and including reasonable
attorney's fees on appeal of any lower court decision, if, after maturity of
this Note or default hereunder, counsel is employed to collect this Note or to
protect the security of the Mortgage.
Maker, and the undersigned representative of Maker, represents that
Maker has full power, authority and legal right to execute and deliver this Note
and that the indebtedness evidenced hereby constitutes a valid and binding
obligation of Maker.
The terms of this Note shall be governed by the laws of the State of
Florida.
Whenever used, the singular number shall include the plural, the plural
the singular, as the context may require, and the words "Payee" and "Maker"
shall include their respective successors and assigns.
IN WITNESS WHEREOF, Maker has executed and delivered this instrument
this ____ day of June, 1999, effective as of the day and year first above
written.
MAKER:
Maker's Address: MIRACOM CORPORATION,
a Nevada corporation
By: /s/ Xxxxx XxXxxxx
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Name: Xxxxx XxXxxxx
Title: President
(Corporate Seal)
Documentary Stamps in the amount of $525.00, have been paid and affixed to the
Mortgage.
