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PRQMISSORY NOTS
$54, 600.00 STUART, Flar ida, 3 , 1972
FOR VALU~ R$CSIVED, the undersigned, jointly and severally,
PRQMIS$ TO PAY to the order of DOYLS ROGSRS, Trustee, Fifty Four •
Thousand Six Hundred and NO/100 Dollars, at P. O. Box 431, Palm Beach,
Florida, or such other place as the holder hereof may designate in
writing, together with interest fraa date at the rate of seven and
one half (7~96) per centum per annum on~the unpaid balance until~
maturity. T'he said principal and interest shall be due and payable
as follaws: T'he principal shall be payable in three (3) annual
installments, the first two (2) such annual installments sha21 each
be in the sum of Ten Thousand Nine 8undred Z~venty ($10,920.00)
Dollars_and shall be payable one (1) and two (2) years respectively
after date, the third annual installment shall be in the sum of
'rhirty Two Thousand Seven 8undred Sixty ($32,760.00) Dollars and
shall be due th~cee (3) years after date. Interest on the outstanding
and unpaid balances of the principal shall be payable with each
annual installment of the principal. T'he maker nwy prepay any part
or all of the unpaid principal at any time before due without pay-
ment of premium therefor. ~
T'his note is secured by purchase money mortgage of even
date herewith made by the maker hereof, as Mortgaqor, unto the
payee hereof, as Mortgagee, encumbering property in St. Lucie County,
Florida; and all p ersons to whom these presents may come are referred
to said purchase money mortgage where it appears among the public
records of St. Lucie County, Florida, for the effect upon this note
of those portions of the mortgage which refer to and contain pro-
visions relieving the maker of this note from any peraonal liability
for the payment of ~the within note. ,
If default be made for thirty (30) days in the payment
of.any installment of principal or interest or any part thereof, the
whole sum then remaining unpaid with interest shall at holder's
option become due and payable without notice. Failure to exercise
such option shall not constitute a waiver of the right to exercise
the same in the event of subsequent default. After maturity both
; priacipal and accruen interest shall bear interest at seven and
f one-half (7~96,) per centum ~er annum until paid. The makers and _
i endorsers of this note further waive demand, notice of non-payment
I and protest. If this note is not paid at maturity and the same is
E placed with an attorney for collectio~,the makers and endorsers
t hereof agree to pay all costs of collection, includinq all court
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; costs and reasonable attorney fees.
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~~~~E STUART ST. LUCIE ESTATES, INC. , a
ATTEST: Florida Corporation
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~ b k. By: ~J~~~ o
Se retary Joseph Go a, Vice-Preside~t
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