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PROVIDED ALWAYS, that if said Mortgagor shall pay unto said Mortgagee the certain Promis-
sory Note hereinafter substantially copied or identified, to wit:
s 5,000.00 Fort Piers, Fbrida July 2 19 80
FOR VALUE RECEIVED, the undersigned, jointly and severally, promise to pay to the order of
City ofi fort Pierce
Five Thousand Dollars,
at Finance Director, Ci tv of Fort Pierce or other such place as the lalder
hereof may designate in writing without interest as long as the naalccrs hereof continually make then res- ;
idencx at 2516 Avenue I _ E
Fort Pierce, Florida 33450
If the makers or their heirs shall fail to make their residence thereat, or shall transfer the said
property within five (S) years of the date hereof, then, there shall be due to the City of Fort Pierce 1
an amount determined in accordance with the following schedule:
Percent (96) of Gru?t
First Year: 10096
Second Year: 8096
_ 'Third Year; 6096
Fourth Year: 4096
Fifth Year: 2096
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Upon the transfer or failure to continue to reside in the premises, principal shall bear interest at the ~
legal rate until paid. The makers and endorsers of this Note furthu waive demand, notice of non-payment
and protest. If this Note is not paid at maturity and the same is placed with an attonney for collection, the s
makers and endorsers hereof agree to pay all costs of collection, including all court costs and reasonable ~
attorney's fees.
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~~334 P~~ 647