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PROMISSORY NOTE
187,938.76
Palm Beach, Florida
/L~o,.c7[ ZS- . 19 81
BEIIvG It:DEBTED, FOR VALt;E RECEIVED, the undersigned promises
to pay to the order of St. Lucie Rock b Sr:ell Co., a Florida cor-
poration, at such ~iace or places as the holders hereof r~~ay desig--
nate in writi~g, the principal sum of S187,938.76, together with
interest thereon at ~he rate of ten percent ( 10~ ) per annurr~, pay-
a51e in equal monthiy installments of 53,993.14, incl~ding inter-
est. The first r:onthly installr~e~t of S3,9y3.14 s;~.all be due and
payable on the lst day of April, 1981, and subsequent monthl~ in-
stallments shall due anc3 payable on the lst day of each and every
calendar r~ont~ thereafter, until tfe prir.cipa~ ar.c3 interest are
fvlly paid.
Tr,is note srall be consider~d in defa~lt-..hF.en a~y Fa?me;,r re-
q~ired to be r:ane nere~nder shall not have 5een a:,ade wit'r:ir, tr:ir~y
(30) days following its due date. In the eve;!t of such default or
?n the ever:t of any other default in payment of any s~T or any oh-
lig~tion req~ired by the ter.:,s hereof, the entire unpaid halance
shall at the ol,tion of t~,e holaer hereaf, becon:e i:r.medi~tely due
a:,c3 Fayable. In the e~~ert of default cf payT:ent, tr,e r~;a}:er. k•ill
pay all costs o~ collection, incl~uir.g~a reasonable attorneys'
fee.
:r: is no*.c is securF•~~ by a p~rchase :*.oney f i rst ,~ort<:ace of
even u~atE, ex~c~tcd ~y tt-.~ iraYEL ir. favor of St. L~cie Rocf b
S~e~I Co., a ~iorida cor;oraticr;.
Tr:is note r,uy 'r,e prepaid :n ~hole or ir~ part at any tim~•
aftE-r .Tan~ary i, i5~~, with the ::tutual consent of the parties as
evidenced by a writing.
'rt. P:erce ContracLing Co~p.,
a 'r'~orida corporation
.
Ey : ~ 1 ~'~-~
c~~K351 Pa~E1344 Its: n,,%~°~,~`- ,
(Corp. Seal)