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Fort Pierce, Florida`'atlu&2'y j0 , 19 L'1.
For value received, I, we, or ~ither of us, promise to pay without defalcation to the order of
i:arr~~ i;onstr.~ction Cor~oratior. , at the office of rhe payee
herein in Fori Pierce, Florida or a! such other place as the psyee herein shall designate in writing, the
sum of E'~ a.~Q F- uG with interest from date at the rote of ~ ~•~ % per annum, pnyable
in monthly installments as foilows, to-wit: •
~: 4 ~ . U :;
~~~ •~~ - on thrl0th day of Feb2~uary 19 ~1 andi-liko~sw~w
on the corresponding day of each like succeeding month thereafter untit t~~e 1C.t:', tiay
of' ,~;Grc~~ ~1~~~; at wr:icll da.e the ther: unpaid acc~our~t of ti,e ~,r•inci~~ai
~alar~ce and an~~ accrued 2nterest thereon w2I1 ~e ciue & payab~e.
~~otwithstandin~ the below statec~ late pena2ty as a percentage of ~rrears
the tierein late per,alt;r is unc:erstooci *v be a flat 3i5.00 for eaci~ ai~~
every ^:ont~~ tY:e herein :iote 3s in arrears.
In the event any ~amou~ts cur~ently due and/or past due under the terms of this note are not paid
by the 25th day of the month, a late penalty of 5.09'0 of the combined amounts currently due and/or
past due, will be added to and collected with whatever amounts are due for the month in question. If
currently due andlor past due payments or pa-ts thereof under the terms of this note remain unpaid
at the end of any month, then said unpaid amount will be ca-ried forward ar.d added to the amounts
coming due under the terms of this note for subaequent months for the purpose of calculati~g subsequent
late penalties. Amounts due under the terms of this note are understood to be but not limited to.
(1). Regularly amortized interest and principa) payments.
(2) City and,!or county taxes when paid by the payee herein.
(3) Insurance premiums when .paid by the payee herein.
(4) Senior mortgage ~ payments •when paid by the payee herein.
(5) Street, sewer and water iiens when paid by the payee herein.
Each installment first shall be applied in the payment of the interest and then on the unpaid bal-
ance of the principal sum. If default is made i~ the payment of any installment when due, then at the
option of the holder, and without any other notice, all the remaining installments sha10 be due and payable at
onc~. Privilege is given to pay two or more installments at any installme~t maturity date, but this shall
not extend the time of maturity of any subseque~t installment. Neither forbearance, nor acceptance by
the holder hereof aher any default in any payment hereon, shal) be deemed extension.
Each maker, surety and endorsar hereof, jointly and severaliy, waives demand, presentment,
protest and notice of protest for nonpayment, and further agrees tb any exiension of time of payment,
either before or -after maturity, without notice to any of us; and to pay all costs of collettion, inciuding a
reasanable attorney's fee in the event of any default hereunder.
WITNESS THE HANDS AND SEAL OF EACH PARTY. (SEAL)
r:o~~er~ h. t,arr
(SEAL)
E3~C1'f.'8 '-i; . ~ n . . (SEAI)
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