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INSTALLMENT NO'"E ND. 1
$90,000.00 Fort Pierce, Florida,
MAY 18, 1980
For value receive! I a6 principal, promise to pay Mithout defalcation
-to the order Qf PATRfCK A. LALLY, a single .adult, at
the office of uaid payee in Fort Pierce, the sum of
-------NINETY THOUSAND DOLLARS k
Mith interest Prom date at the rate oP TNelve Percent (12~) per annum,
in_monthly installments, payable as follows:
X1600.00 per month includinE principal and interest commencing
JUNE 18, 1980, and X1600.00 on the 18th day of each suoceeding month
thereafter. until JULY 18, 1984 when a payment of X6,600 including
principal and interest shall be~made; and
31600.00 per month including principal and interest commencing
AUGUST 16, 1984, and $1600.00 on the 18th day of each succeeding month
through MAY 18, 1985: and
A BALLOON PAYMENT of 333.598.45 principal plus interest to date
of of 3335.98 on JUNE 18, 1985.
THE SCHEDL~LED PAYMENTS ON THIS NOTE INCLUDE INTEREST EARNED ON
PRINCIPITL OF A NO'•'E DESIGNATED "INSTALLMENT NOTE N0. 2• GIVEN IN
CONJUNCTICI~ WITH THIS tiOTE.
THIS NOTE IS GI~~Lh Ii~: CCKJUr:C~'ION MITH A ~1RAP-AROUND MORTGAtZS NROM THE
I'.AY.F.° TO THE PAYEE, EXECUT~:D "_'HE 26TH DAY OF MAY ~ , 1980,
AND THE TERMS AND CONDITIONS OF SAID MORTGAGE ARE INCORPORATED HESEIN
BY RERERENCE. _
Each installment first shall be applied in payment of the interest
and then on the unpaid balance of the principal sum. If default is
made in the payment of any installment Mhen due, then, at option of the
payee all the reraainins~ installments shall become due and pa;~able at
once. Privile¢e is given to pay two or :amore installments at any time.
Should it become .necessary to collect this note through an attorney,
either of us, whether c~aker, surety or indorser on this note, hereby
I earPes to pay all costs of collection, including a reasonable attorney's
fee.
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The maKers, sureties and indorsers hereof severally waive presentment,
protest and notice of protest for non-pRyr~ent of this note and agree
that the time o:' its maturity oay be extended before or after waturity
r and coo further Feverally agree to any renexal thereof before or after
~ ~ maturity, xithout notice of them.
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(SEAL)
~ Frank Guerriero
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