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PROMIS$ORY NOTE
$ 220,040.00 .
Fort Pierce, Florida June 29 ~.D., 1979
FOR VALUE RECEIVED, I or we, jointly and severally, promise
to pay to the order of FLOYD C. WELCH of 1901 York Court, Fort
Pierce, Florida 33450
~Two hundred and twenty thousand and no/100 Dollars
at 1901 York Court, Fort Pierce, Florida, in 240 monthly installments
of Two Thousand, Eighty Six Dollbra and Seventy Five Cents,
($2,086.75), the first installment to become due and payable on .
or before the 28th day of July A.D., 19.T9, and one installment
to become due and payable on or before the 28th day of each
succeeding month until the vhole of the indebtedness is paid,
including interest from date at the rate of 9 3/4$ per annum.
If any fnstallment of this note is not paid at the time and ~
place specified and such default continues for thirty days, the
entire amount unpaid shall be due and payable at the election of
the holder hereof. All parties hereto, whether makers, endorsers,
sureties, guarantors, or otherwise, hereby waive demand, notice and
protest. If placed in the hands of an attorney for collection, we
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~ jointly and severally agree to pay reasonable attorney`s fees,
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ff including attorney's fees on the appellate level. _
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~ Each installment first shall be applied in payment of the
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~ interest and then on the unpaid balance of the principal sum.
~ The principal of this note may be prepaid in whole or in
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~ part at any time after January 1, 1980, with interest to date of
payment without penalty. All prepayments shall be applied to the
_ installment or installments of principal last maturing. -
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~ This note and deferred interest payments shall bear interest
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~ at the rate of 10$ per annum from maturity until paid. This note is
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~ secured by a first mortgage of even date and is to be construed and
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