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$150,0OO.OQ Fort Lauderdale, Florida
June, 29~-, 1970
FOR VAL[.'E RECEIVED, the undersigned promises to pay to the order Of ELTON
MEI.TZER, RALPH DeCOVENY and BENJAMIN S, KALNICK, as Trustees, the princi-
pal sunc of ONE ~iUNDI;$D FIFTY THOUSAND DOLLAItS -t$150,OOD.QO) t~gether with
interest on the unpaid principal balance from June 8, 1970 at the rate of
SEVEN PER CENT (7~) per year, payable as folla~s:
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€ On June 8, 1971, the sum of $25,000.00 together with
! accrued interest at the rate herein set forth;
On Jun~ 8, 1972, the sum of $25,000.00 together with
accrued~interest at the rate hereS.n set forth; ~ .
On June 8, 1973, the sum of $25,000.00 together with
i ~ accrued interest at the rate herein set forth;
- On June 8, 1974, the sum of $25,000.00 together with
accrued interest at the rate herein set forth;
. On June 8, 1975, the sum of $25,000.00 together with
. accrued interest at the rate herein set forth; and
On June 8, 1976,. the sum of $25,000.00 together with
accrued interest at the rate heref.n set forth.
~ All payments of principal and interest.are to be made at:
~:zis obligation may be~paid in whole or in part at any time without penalty
or premium.
.'ais note shall be ia default if not paid within thirty (30) days from due .
° ctate; and thereafter interest shall be paid at the rate of TEN PER CE:~FT .
;10$) per annum.
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~f default be made on the payment of any installment of principal or inter-
est or in the performance of any of the tenn.s, covenants, or conditions of
that certain real estat~ mortgage of even date herewitt~ given to secure the
paym~ent hereof, then at the option of the holder hereof; the entire princi-
pa1 sum remaining unpaid, together with accrued interest, shall become im-
r.~ediately due ~and payable without notice. Upon default hereunder all persons
iiable hereon, jointly and severally, promise to pay all costs of collection,
_ iriciudinq reasonable attotney's fees.
Presentment for payment, demand, notice of dishonor-, protest and notice of
~rotest are hereby waived by .the make:: hereof.
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~ • ~185 ~19~ ~ ~ S. S -
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