HomeMy WebLinkAbout2157 , _ . PROMlSSORYv NOTE
- ' ~ Fort Pierce, Florida
, '~~ioY~?F~a
= 20 , 000 . OQ Ju ZX 6, , is~_
, _
FOR VALUE RECEIVED. the undersigned, jointly and se~_crally. promise to pay to !he order
~ ELECTRIG MOTOR WOF~:S, INC., a Florida corporation
the principat su~n ot ~ent thousand and 00 ~ 100 - Dol)ara
~ye~te as tolows: ~ O igation secure ereby s a e payaUle
in sixty (60) equa~ monthl instali:nents of Three hun~re~~
ninty-one dollars and thir~y-three cents each, including
interest at the rate of 6 1/2%_pe~-annum, the first payment
being due and payablP on or bef_ore the day of Atigust,-
1971, and monthly thereafter on the same
clay of each and
every suceeding month,
said paymenta to continue unGl the interest an:~ prir~cepal are paid in fu)1. each payment bcing
_ tppiied first to interest and the reroainder. it eny, tb principal, at St. L.LGi~ ~Q ntv
IIank
or such place as the holcler heteof desi~tes. This note or any part th~rcof may be prcpaid at any
time with interest thereon to date of pa}•ment onfy. If an~ ~ payment o[ interest or principat is not
raade within 30 da~~ atter it is due. the entire princepa! ahall be~rame du~ n~thout notice. Failur2
to exercise fhe rieht to accelrration shall not waive such right u~~on any sut~equ~nt doG~ult. In the
evcnt oi detault in payment all persons liable hereon-je~??tly and ae~•crall}• a.•aive protest and agrce to
pay all e:penses ot collecEion together with masonahte attorney's fces including ap~x~llate proc•c~clings,
A portian of the sum secured hereb is in pa}~men~ of a
covenant not to competc~ of even da~e herewitti execut~J by
b-~he payee in favor af the maker ancl expiring 24 months
a~ter date hereof, any violation of. t~hich ma~~ constitt1te
a set-off against d portion of the r~maining~sum due here~n. -
ELECTR.A-TR4NICS, INC.
goo~193 2155 ~ C~~ By
as Fresident