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PROMISSORY NOTE
$ 497, 000.00 j„~~.e Florida D~Ce~b~]C' , 19-~ ~
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FOR VAL.UE RECEIVED the undersigned. jointly and severally~ promise to PAY TO THE ORDER OF
AD~ 11~iDDp~T g~iRNS, It~C. , a Florids corporatioa =
The principai sum of ~~g~Y 8~~ ~~~~0/100--DOLLiilRB----~
497, 000.00 ) together with the interest thereon from 1972 i
at the rate of 3 cent r a num untii aturi awf I mo e of the ni ed tes of America. ~
as follows: ~Y~~'e~ a~naa~ ps~nen~a o~' ~'~~;~~.~$d p~us `~~'teres~ bn ~~'ie - :
unpaid balance to th~ date of eacb sucb payment. the first of wbich shall !
be msde oa Dscember 1S, 1973, and on the 15th day of December of each ~
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year ther~alter until ptid in full.
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~'his note may ba prep~id in whole or in part any time after January 1, 1973. i
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All payments shall appy first to accrued interest, and the remainder, if any, to reduction of principal. If any instaltment of principal or
interest is not paid whe~ due, or upon any default in the performance of any of the covenants or agreements of this note, or of any
instrument now or hereafter evidencing or securing this note or the obligation represented hereby. the whoie indebtedness (including
principal and interest) remainir.g u~paid, shalt, at the option of the holder, becoropsi~~ediately due. payable and collectible. and while in ;
detault, this note and deferred interest shall bear interest at the rate of ~i percent per annum. S
Each maker and endorser severally waives demand. p~otest and notice of maturity, non-payment or protest and alt requirements neces-
sary to hold each of them liable as makers and endorsers. Each maker and endorser further agrees, jointy and severally, to pay atl
' ccsts of collection~ including reasonable attorney fees in case the principal of this note or any payment on the principal or any interest ~
i tnereon is not paid at the respective maturity thereof. or in case it becomes necessary to protect the security hereof. whether suit be ~
j brought ~~c. T~SZS, a Joint Venture between {
; N. ~RDIB and ~RRISON Li~TD
e Dgyg,~pp ,=NC„ a Florida corporati
pny- X.
r Payable at ~`•~~~C ~~"^r1/ L BY! ~ I"~ ~M~ ~Sean f
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_ ~i DI I,~~iD DSVELOpI~iBDI'1' INC .
~ (SeaQ
~ or such other place as shall be designated by the holder $Y= . ($pil~ ~
of this note in writing. ~ G~ ~Rg~gp~j~ ~g~, president
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