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PROVID8D1, AI.~AYS~ t6at it t~a l[w~t~,or ~+aD pa~ uato t6e 1[oet~~ee the is~lebt~dseM erideaoed by a
oertain proaaiMOr~ oels af ~ t1~s ~ollo~rini is woed~ aad fi~ra is a t~ve aopp ta~~rit:
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~ ~ P R O M I S S 0 R Y N 0 T E
$13p,000.00 Fort Pierce, Florida
• June 23, 1970 ~
FOR VALUE RECEIV~D, the undersigned, promises to pay -
to the order of CENTRAL BA~1K A;VD TRUST COMPANY, a Florida
_ corporation, as Trustee and noC personally, having its principal.
- office- at 1313 N.W. 36th Street, Miami, ~ Florida, ti~e principal
~ sum of ONE HUNDRED~THIRTY THOUSAND and 00/100 ($130,0OO.OJ}
DOLI~iRS, together witb interest from. the date hereof, at the ~
~ rate of seven and o~e-half (7170) per cent per annum on reducing
. balances, at the office of Central Bank and Trus~ Company, or
at such other place as the hoZder hereof may from time to time
hereafter designate in writing, in installments of TWENTY-SIX
THOUSAND and 00/100 ($26,OOQ.00) DOLLARS on June 23,1971,
' - June 23,1972, June 23,1973, June 23,I974 ~and June 23,1975,
_ the entire principal sum being prepayable~in whole or in part:at
. any time without penalty. Preraymen~ shall apply to the next
~ maturing installment. ~
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; Interest shall be payable on unpaid balances annually
~ hereafter, beginning June 23, 1971.
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- If any installment of principal or interest is not ~
paid within thirtq (30} days after the sa~e shall become due,
'I then at the election of the holder, Che ~ntire principal baianc e
, . and all accrued interest shall at once become due and~payable,
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; and failure to exercise that option shall not waive the right to
; exercise it in the evenC of subsequent default. Should this note
, be placeri in the hands of an Attorney for collection, I promise
to pay a reasonable.Attorney's fee.~ Protest and notice thereof
. are waived. This note is secured by a purchase moaey mortgage
on real, prop~rty of even date, recorded in the_Publ ic Records of
St. Lucie County, F2orida.
e/James L. Pauson L. S.
. ~ ~ ~ ,James L. Paxson
~185. 00 atgte atampe ori inal note and cancel~ed.
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