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^[[3800.00]] Clarement, California, ^[[April 28]] 19^[[20]] No. ^[[9682]]

^[[Six months]] after date, without grace, for value received, ^[[I]] promise to pay to THE FIRST NATIONAL BANK OF CLAREMONT, or order, at its banking house in the city of Claremont, California, ^[[Thirty eight hundred]] DOLLARS, with interest, payable ^[[quarterly]] at the rate of ^[[7]] per cent per annum from date until paid, and attorney's fees of ten per cent on the amount then unpaid, if suit be commenced or other proceedings be taken to enforce the payment of this note.
Should the interest not be paid when due, the whole sum of principal and interest shall become immediately due and payable at the option of the holder of this note, and interest shall be compounded monthly thereafter,  and bear the same rate as the principal. Principal and interest payable in gold coin of the United States of America of the present standard. The makers and endorsers of this note hereby waive diligence, demand, presentment, protest and notice.
And ^[[I]] hereby transfer to and deposit with THE FIRST NATIONAL BANK OF CLAREMONT at [[space left blank]] own risk and expense, as security for the payment of this and every other indebtedness and liability to said Bank, due or to become due, or that may hereafter be contracted, the following property, of which ^[[I am]] the sole owner, to wit: 
^[[5 shares Mutual Building & Loan Ass'n Stock $500]]
^[[Certificates [[?]] Home [[Bldrs?]] 1800]] 
the market value of which is now $[[space left blank]]
And [[I]] hereby give THE FIRST NATIONAL BANK OF CLAREMONT, its successors or assigns, a lien on any collaterals pledged to secure any note made or endorsed by ^[[me]] which said THE FIRST NATIONAL BANK OF CLAREMONT may now or hereafter hold, and on such other collaterals as ^[[I]] may pledge hereinafter, with power to said THE FIRST NATIONAL BANK OF CLAREMONT, or any officer thereof or any assignee of this note, as follows:
In the event of non-payment hereof at maturity, to collect or enforce, or in its or their discretion, compromise the collection or enforcement, or to sell the whole or any part of said securities at public or private sale, at any time or times thereafter, without any demand of payment or performance, advertisement, or notice of sale (all of the same being hereby expressly waived); to endorse, transfer and deliver said securities to any purchaser thereof, or become purchaser of the whole or any part of the same, discharged from any right of redemption, at any such sale; and after deducting all expenses incurred in that behalf, or in protecting said securities, and after deducting one per cent commissions on such sales, to apply the residue to pay any liabilities of the undersigned, as the holder of this note shall deem proper; to sell said securities, or any part thereof in the manner above provided, if at any time before maturity of this note the holder shall call for additional security, and the undersigned shall fail to furnish forthwith, upon demand in person, or within two days after deposit of demand in the post office directed to the undersigned at the address given below, such additional security as the holder shall deem proper. In the taking of any action, or the making of any compromise or adjustment respecting the securities hereby pledged, the holder shall not be liable for error of judgment, lack of diligence or anything except bad faith. The holder is under no obligation to protect, enforce, collect, take action or realize upon any of said securities. Any amount paid by the holder in protecting said securities shall be added to and bear the same interest as the principal sum. Any overplus received by the holder from the sale or collection of collateral shall be returned to the undersigned, and the undersigned agrees to pay the holder any deficiency upon demand.
ADDRESS ^[[Claremont]]              ^[[Jesse L. Morain]]
^[[Cancelled]] ^[[?]]
DEC 15 1920 THE FIRST NATIONAL BANK OF CLAREMONT, CALIF [[stamp]]
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