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PROMISSORY NOTE
$17,000.00 Fort Pierce, Florida, December 20,1979
For value received, the undersigned promise to pay to the order
of RAYMOND E. FORD, at 707 South 12th Street, Fort Pierce, Florida,
the principal sum of Seventeen-Thousand and no/100 Dollars ($17,000.00),
together with interest from date at the rate of thirteen per cent (13$)
per annum until maturity, said interest being payable annually on the
20th day of December, 1980, and on the 20th day of December, 1981,-and
said principal sum of Seventeen Thousand and no/100 Dollars ($17,000.00)
being payable as follows: Eight Thousand Five Hundred and no/100
Dollars ($8,500.00) on the 20th day of December, 1980, and the addi-
tional Eight Thousand Five Hundred and no/100 Dollars ($8,500.00) on
the 20th day of December, 1981, when the entire unpaid balance, if
j any, shall .forthwith become due and payable together with interest
i
thereon.
I
This promissory note shall be considered in default when any
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payment of principal or interest required to be made hereunder shall
not be paid on its due date, or if this promissory rote shall be se-
cured by a mortgage or other collateral instrument any breach in the
terms of such mortgage or collateral instrument shall likewise con-
stitute a default in this promissory note. While in default the whole
~ of said indebtedness, including unpaid principal, accrued interest
-
and other charges, shall bear interest at the rate of Thirteen per
cent (13$) per annum. If this promissory note shall continue in de-
fault-for a period of thirty (30) days, then the whole of said ins
debtedness shall, at the option of the holder, become immediately
due and payable, without notice, and until fully paid shall bear in-
COPY s~~ 322 p~F2s~ n