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PROMISSORY NOTE
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$365,000.00 Fort Pierce, Florida, December Q3, 1974
~ D~.~~~ ~n: n - i-hP r~nAers i aped promises to pay to the order of
RONALD HOWE, AS TRUSTEE•under the Land Trust Agreement dated May 1, 1967
and recorded in O R Book page of the Public Records of
St. Lucie County, Florida, for the benefit of Gertrude H. Friedman~as
Executrix of the Estate of Max Friedman, deceased, Dorothy E. Howe, Ad-
ministratrix of the Estate of Iioward F.~}}owe, deceased, Paul R..Sperber,
Beatrice Abrams, Super Discount Supply, Inc., formerly known as Royal
Cleaners, Inc.., Max L. Bloch, as Trustee for the benefit of Jacqueline
Bloch, Jonathan David Bloch and Jay Laurence Bloch, and William
Schneider and Rose G. Schneider, his wife, the principal sum of THREE
HUNDRED SIXTY-FIVE 'P11OUSAND AND NO/100 DOLLARS ($365,000.00), together
with interest thereon from date at the rate of SEV}sN PER CENT (7$) per
annum until maturity, said principal and interest being payable as
follows:
In ten (10) equal annual installments of principal and accrued
.interest in the amount of FIFTY-ONE THOUSAND NINE HUNDRED SIXTY-EIGHT
AND 70/100 DOLLARS ($51,968.70). The first payment to be due on the
first anniversary of this note and a like payment shall be due and pay- _
,able on each subsequent anniversary date until this note has been paid
in -full.
This note ,nay be prepaid in whole or in part at any time without
penalty. Any prepayments shall be applied first to the next principal
payment or payments due on this note.
Neither the mc,ker nor any grantees of his shall have.any personal
liability for the payment of this note. The payment of any delinquent
principal, interest and/or costs which may become due and owing on this
note shall be solely from t}~e security given for the payment of this
note.
Each maker and endorser severally waives demand, notice of non-
payment and protest .end aI1 recluire~mrnt s nc~ces .ary to hold each of them
liable as makers and endorsers.
The maker agrees that if any installment becomes delinquent the
holder has the option to dc~rr~and payment of the whole unpaid balance.
Each maker and ~~,~dorser further ~c~~rec~s jointly and severally to
pay all costs of collection, including a reasonable attorney's fee in
case the principal of -this note or:ny }=ayment on the principal or any
interest thereon is not paid at the respective maturity thereof, or in
case it becomes nece_~sary to protect the :,~=curity hereof, whether suit
be br--ought or not.
This note is -secuT-ed by a purchase money first ,nortgage of even
date herewith and is t-c be construed and enforced according to the laws
of the State of Fi.orida; upon default in the principal and/or interest
due on any note secured by said ,nortyaye, all ,cotes so secured and re-
maining unpaid shall forthwith hc•co=ne due r~~?d }sayable notwithstanding
their i_cnor. t
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