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PRf1MISSORY NOTE a
MAai~1~Ox, D. C. ~ ~
$37,500.00 Ao~a~t ~.7 , 1970
FOR VALUE RECEIVED, the undersigned, 3 ointly and severally,
promise to pay to.the order of SPENCER B. GILBERT, at First Nationa~ -
Bank, Fort~Pierce, Florida, the principal-sum of THIRTY SEVEN
THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($37,500.00), with interest
at the rate of seven per cent (7~) per annum fraa date until paid
in installments as follows: - ~ -
2
Payment ` ~
Vumber Date Due Prin_ cipal : _
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1 December 1, 1970 $2,000.00 + accrued interest on the . ~
, . ~_-remaining unpaid princi-
2 , - March : ^ 1 , 1971 3,227.27 ,r,al balance . ~i
June ' . . . 1971., . 3,22.~.27= ~ . . n .
4 September _ 1 , 1971 ` , 3;,2;27.2Z, . " "
S December 1, 1971 3,227.27 " " "
6 Ma~ch ~1 , _ 1972 3,227 .27 . " " " •
7 Jurie ~ 1972 . 3,227.27 . " " "
8 September _1 1972 3,227.~7 " " _ " ;
9 December 1 , 1972 3,227.27 " - ~ ° " . " ~ i
10, March 1, 1973 3,227.27 " " ~
11 June 1, 1973 3,227.27 " "
12 September -r, 1973 3,227.27 " " "
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If ~ny installment be not promptly paid with~n ten (10) days next ~
after the same becomes due, then,.at the option of the holder tiereof,. - f
; the full amount remaining due upon this note shall thereupon become
€ due and paya6le at once,together with all_other indeb~tedness stipu-
lated in this note and in the mortgage given to secure the same. ~
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The maker3and endorser agrees to pay all costs of collection,
including a reasonable attorney's fee in case the principal of this
note or any payment on the pri~ncfpal~or any interest thereon is not.
paid at th~ respective maturity thereof, or in case it becomes
necessary to protect the security hereof, whether suit be brought
or not . ~ -
This note and de#erred interest payments sha11 bear interest at~ .
the rate of seven per cent (7%) per ann'um from maturity until paid. ,
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All or any part of this-- note~ inay be prepaid at any time without
penalty or pr~mium after January 1, 1971. . - _
This note is secured by a Purchase Money Mortgage of even date
herewith and is~to be consCrued and en~orced~accord~ng to thelaws.
of the State of_. Florida~. - . ~ - - ` - ~
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SOUT~IALL, ING.
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-:1;~ ~Y~.;~ President
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~,~c~ -rt
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~ ' reCary . . = i~ PlIGE~:.LT•~ ~
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(SEAL) _ . .
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