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Resolution 80-407A L<£SOWFIIXi OF THE CITY OF iYX\Gl�%Op, FfARIOA, AP PPo"T"3SSORY NODE NO. lol, IO itc— to CQBANq/SEE+ — CIXRSM, AND 'RD: EXC(Y➢PZGV Tf¢',IIIDF, AND ROVIpII1G FOR CERTAIIJ MATTEAS� IU'y'ATEO Tf�HL'lDr AND FOR AN FFFECPIVE WF�REAS, the City of Lon9xmd, Florida (hereinafter "the City'), has hemtofore adopted Resolution No. 394 and Resolution No. 397, pursuant to which the City of LOngwooi has levied, established and filed final assess- emnts for a portion of the — of cert ivmvments, repair and surfacing o£ Land Ava:ue, against the pexwns and property and in the artowts set for]i an the final asse—t roll attached hereto as Exhibit A. C- assesarents therein pt—I d shall —a — to singularly and collect ly referred to as the Assessrtents"); and WhEFFPS, the City has —ivied the propxsea form of p�ssory note payable to Gmi&avil:/Seminole —,t,, a I? of which is attached hereto as FxhiIit a (Hereinafter the "eemussoxy dote"); and [VHERFAS, it is necessary, Proper and desirable, and in — interest If its Att— that. the City execute the Rxonussoxy Note, and obtain the ororeeas of the loan represented thereby Lor use by the City for lmrful mwrcipal Purposes; hCNJ, Tf�FEFDAE, BC IT PESOLVEp BY TtQ•; C— CUWII t— OF THE CITY OF iaX��, FIOR2pA, AS tYrLW S: 1) 1he fnxm of the Pewissory Note is hereby approved, and the thayor and the City Clerk are hereLy authorized t execute the sane on —f If the City of Lngwnd, Honda, as well as any other dociments required in osnnectron therewith, and such note, when executed, will constitute a valid and hinding obligation Of the City of iong od which Can lawfully iI Paid in 2) 'fie afore beought or threatened to Gallenge the legality, validity or sufficiency of the ram. :fie unpaid principal balance of each Assessment, and elate from which interest has accrued thereon, as set forth On Exhibit A, are true and -d i, it "N'j -tt, ly th, N . 101 $48 , 000.00 FOA VALUE AEC -1, the City of Longwood, Florida (hereinafter called "the i r"), hereby promises -to pay t order of C ank/Seminole (hereinafter "the Hol de x"), i a signs, at it, principal office i the City of selberry, Plorido uch ohher place as thenFlolder here- ofsshall designate i without demand o r before September 30, 1980, inwlawful m nay of the Ulit.d 5 tM1e principal s of F eight xhous and and No/100 Jolla rs ($48,000.00),e tog, they_ w ucM1 principal s lt the r of eight percents (A&)epee a tha d o£ uch payment. The s d piincip al du b a shall andCa and Payable i eq ualuan 1 lost al lme ntseof principalplus a ved .i. eing o Suly '1, 1981, n and o the t ntycfirst dayofsS ulymi ach succeeding y r, untilpaid in full. p Constitution andAi Jo£yt iof F'lo ri d ar,a thet�h arter and code of the I-d talution it anc duly adopted by t sp�t a A - , 1.J.. ory h shallube payable E t lien pon a and r eip[srbyhthe I rt Eroma those c - 397,,specialea ante liens e5tablisheduby R solution 4 w ilb w s'dulymadlpted by t .iu.y I" provided, that if 's uch special a t liens shall be determined to be invalid or unenforceable, in whole or in shall forthwith appropridte and pay the remaining principal opro vid11 further, that this P sory N and bils n e general ob Ligaeion oP t ee2ss uevt end the Holdar cheer©o£ush all n r have Ghe r.i ght t require o ompel the e e sof thwe epoof the I-, o levy adr valorem t sforthe payment of1 the pri ncipel of and interest on [his Promissory Mote. v i.ab le them Por o Aof or e e [ duey wde rx an of o pay anyPa pri n�ipal ys aforesaid a and if suchrdefault shall c - 'ib e for a periodsi of s ( days, then the ants that it wilt i me d.i it .relyly thereafter i - tutecpxoceedings Go collect all a s due i the m r bed in lo, ride s u euntabd thereaftexac t a�wille=peai,ti—erously proaec e a„,ntprocaeainys co fin. lna eermination. BHOOLD A RSON prepay all or part of any bf the Othe I Hereby i aid a nr c that willeprompt lyet n over to the —der hereof alltproceedstof such prepayment. e xssuDR c tnat i will n reducle, or defer anyapaymen t' due from the p sill ab le re for unaer tFe a said a and thati vi11 n books and r orris of al lspayments due or paid under naforesa is a which books a orris sha11 he r n��i .ton yt1l. T-11— he re.oF at all reasonable. times. a default s - pal0� unaer• o tF.e pathe pr_ay focmancepo Lakin 9s'e here.i n, thc,Holder h ,1 eof hall be e itl edst nab e and a ney's o£ o Itf rvasi anya n brough trby e theses Iofuany�sacF do Fault, i con aaaitit y an o tM1er oafux thcrce3 i.ef t IaFich the Holder may be entitled. RDBY —IT 1' Co, r Led ana declared by t th atTall a on ditibhs andcthil, required to e oshappen, and tocbe performed pre and i nh.'paned, ith the i of this P ory N ,nha1. and have be enaperformed i eegu lar and due formtana t e- r quired by the laws and C nof the S of Florida and the ordinances and r solati onsof the I applicable ere thto, ana t of this P ory N e does not i plate "bycob trtutronalaorestatutoxy limitations or provi- oaa i nee t sren Promr.,,ory 1+oee ana�nal..causedtcna acme tbe d by it. Attt teand i orporate t r neseal 1 be impressed hereon and d andtc sigd by i t s City Clerk, all zs o£ the z216ts daY of n gi �1980. C ITz OF LO—OOD, FLORIDA 2C L /Ll- "Y."ity Ploridz (SFnLI