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$500,000.00 ~ ~L'~,.~. ~ 1. a ,1980 -
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FOR VALUE RECEIVED, the unders red, jointly and severally, PROMISES TO PAY to the
order of MARGARET BEAUDOIN an LOUISE J. CHANCEY; A.C. CLIFFORD; JOSEPH M.
FITZGERALD and GRACE C. FITZ ERALD, s wife; THELSA SHEPPARD; and OTTO G.
KLEIN and EDNA M. RLEIN, his e; the um of
FIVE HUNDRED THOUSAND and No ---------------------------------------Dollars, s
at or such other place as the holders hereof
may es grate n wr g, toget r t n rest from date at the rate of 12 per centum
per annum on the unpaid balance until maturity.
The said principal and interest shall b and payable as follows:
$100,000.00 principal, together with tares one year from date, and a -like sum of prin-
cipal and the then accrued interest the ame day of each year thereafter until the
entire prindpal and all accrued but n interest shall have been paid in full.
There shall be no prepayment privileges on this note until January 2, 1981. After that '
date, upon the payment of the sum of S200, 000.00, then, and in that event, the Northerly ~
one-half of the properties mortgaged shall be released . The said payment for such re-
lease shall be credited to the next prindpal payments coming due under said note, but
the payments of interest shall continue y. - E'
This note is secured by a purchase mortgage on certain realty located in St. Lucie
County, Florida. The holder- of this a agrees to look only to the security for the pay-
~'i memt hereof, and recognizes and agr that part of the consideration for this transaction
~ is that the maker of the note and mortgage has no liability of any nature whatsoever for ~
the repayment of the note. - ~
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If default be made for 30 days in the ay t of any installment of principal or interest
- or any part thereof, the whole sum t maiming unpaid with interest shall at holder's
option become due and payable without ce. Failure to exercise such option shall not
constitute a waiver of the right to exec the same in the event of subsequent default.
After maturity, both prindpal and acc ed interest shall bear interest at 18 per centum
per annum until paid. The maker an endorser of this note further waives demand,
notice of ran-payment and protest. f this note is not paid at maturity and the same is
placed with an attorney for collectio ,the maker and endorser hereof agrees to pay all
costs of collection, including all court cysts and reasonable attorney fees.
ERSKINE CONTRACTING CORPORATION, •
an Ohio corporation
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