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- PROMISSORY, NOTE
' • " Fort Pierce, Florida .
ll~kMsXt~~?CF424~d
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= 2,soo.oo July 6, _ ,19~i
FOR VALUE RCCEI~'ED. the undersigncd. jointly and sc~~erally. promise to pay to the order
o~ FON CHILDRES and BLANCtI Cti~LDRE~, husb~nd_~nd_kife ~ ~
the principal s~, o[ T~~o thou;:and , f ive hundred and 00 / 100 no~tarn
p:,~ab~Q ~ to~o..~:_ The principal suin shall be payable in tcventy-five
(25) equal monthly installments of One hui:dred dol?ars ($100.00)
together ~vith interest on the ur.paid balance at the rate of
6 1/2% per annum, interest payable monthly, the first paytnent
of principal and interest being due and payable on or before
the day of August, 1971, and monthly thereafter on the
same-Tcay each and every suceeding month.
said pay~ments to continue until the interest an~i princi{.nt am paid in full, each payment being
applied first to interesi snd the mmainder, if any, to principal. at St. Luc~~Co ~n _v
Bank
or such place as the holder hereof designatcs_ This note o; any part thcreof may be prcY?aid at any
time with intemst the~eon to date ot_p~vment only. IE any pa~mcnt of interest or principal is not
made w~thin 30 dacs after it is dui?, the entir~ ~iuci~al shatl become due ~+-ifhout notirn. Failure
to e:ercise the rieht to acceleration shall xot waire cuch right u~n an~ subeequent default. In the ~
e~ent of default in payment all persons liabie hereon jointly and se~•eralh• ~.•aiec pro2c~t and abrce to
pay all eapenses of collection together K7~~1 reasonab'.e attorne~•'s iees incladino a~~~ellate proce.~*dings.
This note is in payirent of a Covenant not to Compete of even ~
date hereof executed by the Payees in favor of the ma~:er and=
expiring 24 months after date hereof, any.violation of ~ahich__
may coitstitute a set-off against the remaining sum due
hereon. ELEC'fRA-TRONICS, INC.
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By .
~ _ as Pre~ident
w_.._ - _ _ E
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2~1-1 ~1~? ~
f~LEO 4ND RECORDED
ST ~~~~s COUNTY FL4
ROCFR POITR~S-
CLERK CInCUR CDUq~
RECORD YERIf1E0.~,_
~ 6 2 43 PM'?I ~'aoKl~ zZ~ s
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