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` ~ ' ~ COLI,ATERAL INSTALMENT NOTE
N ' _ ' ~l T : - ' i ~~3~-.~---`
~ * , • ° . - . STUART, RIORID~~L~i.+s" IL.~.,~-~ 19-,~=~,i-
TM and~raian~d Und It mon tMn.a?~, ~ach of t~~m }olntly •nd s~vaally). h~nt~~ftn u11~d •'M~k~r' prqn~is~s to aay to th~ orda ot
, • ; ~ " ~ ~ BANK Of STUART •
h~nlnahN CNI~d "B~nk." ~t Its oMe~ a! 9TUART, /LORIDI? (w ~t such olh~r pl~c~ as th~ Aold~r h~hof m~y d~sl~nat~) tA~
sum of,.,,,5~,~ ~"1'1Al7Rr'71'1[j TI'll^,eP ~jJ,],(j~ 3(+f'~VL.~Q~~~.LANS (TOTAI OF PAYMENTS) In_~~.montMy
tnst~lm~nta ef Q6 CL_~:.3.~
ia ~ ~~Ch, oe th~ ~ day of woh succ~stlw month eomm~ncln~ on~s'~
~-!r_. 19~~
toptAtr wlth • 8A1100N PAYMENT In th~ amount of i~nn dw on , 19 . Th~ co~dl•
tions, If ~ny. tot htinancin~ th~ b~lloon paym~nt •r~ ~ _ . AU paym~~b
mede h~nund~? sAall b~ tredit~d lirst lo intenat ~nd I~wlul eharps lh~~ aceru~d ~nd th~ r~maind~? to p?Inclpsl. Th~ ~mount of this not~ Includas
tne procads ot i~~.~~P~us oth~r chsrg~s (D~scribs>~Q~CL1I11E'YLtFi~~/~a'U~it~1S ot i,1`' .~~2~
~..:~~~i~s AMOUNT FINANCEO o/ f~.~.Q'.°.~ ~ p~~• ~ FINANCE CHARGE ot s_.1,~3_7_G..2Q-__~wni~n emo~~e
~ne~ud~s let~nst o1 S1y.;3,~{_~.~.Q_.and er~dit 1~(e losurene~ pnmium of 1e~_~~~~_) nsu~ttn~ in an ANNUAL PERCENTAGE RATE
of~0~(~(,. Th~ Mak~? hss th~ right to pr~pay thls losn in full and obtaln s r~~und ot the un~am~d port~on of tM /fl1~MS char~~ tomputrd und~r the "Sum
ot tA~ ~itits" melhod.
As used herein the term "Collateral" shall mean and Include the folfow?ng pro~pe?ty wh~ch has been o~ !s h~eraby pledged. assigned
or conveyed to, or deposited Nith the Bank: ~S~ MOrt(~~[3e on Lot ~SS Sect:i.on II oy Outdoor
-~'~ese~s-e~--~TM°~~--a~-Ate~~e~--~ ' ~~o~~~a:
and any and etl other prcperty of every kind or descriptton now or hereaftar Fn the possession or under the control o/ Bank for any
reason, together w)th aif additions and substitutions hereafter pJedged fo or deposited with 8ank, and includrng all cash, stock and
o:her dividends and ali rtghts to subscribe tor securities incident to, declered. or granted in cQnnect+on w~th any prope?ty hereinabove
desciJbed or reterred to. As used herein, "liability" or "liabilities" means and inciudes this note and all obligations and tiabilities
(prrmary, seconda~y, direct. contingent, sole, joint or sevarai)~ due or to become t~ue or whlch may be hereatter contracted or ac•
quired of each Maker (including any Maker and any other person) to Bank. Maker warrants and agrees that Bank has and shall'
have a tien upon, security title to and a security intaest in al! the ColleteraJ sS securlty for the payment of this no • ard aif fiabili-
t~es, ,nciuding any extansions, nenewais or changes fn rorm of arty tnareoi. The surrender of fnEs note, upon payme~. v. Ofti~rwiSB,
shatl not aftect the riltht ot B~nk to rstain the Collateral for am other liabllitiss. .
CREDIT LIFE AND CREDIT LIFE d, DISABII,ITY INSURANCF, ARE VOLUNTARY AND NOT REQUIRED FOR CRE~~T. Sueh inwranc~ covarase ta svailabl~ at tA~
cost d~alQnst~d bNow fo~lAe tarm of the crWit: (s) S~ t0~ Crsdit lJfs InsuranC~ (D) S ~o~ C~bft Uf~ 3 UlsaDllity lnsuraat~
Check ~ Cr~dit lih Insuranes Is desirtd on th~ Iife of Birthdate_
'ti~'~~• ? Cr~dit W~ 1i ~Isability Insurane~ is desi?sd orL -
6:, x
~ Crodk Ufa andJor WsaWtity insuranc~ is not dasirad,
iDataL (Slgnsturt2_ - .
AdditlOns t0. reduttlons or reteas~s o~ exchangss of, or subst~tuttot~s tor th• Coitateiai. paym~nts on secount of this loan or increasss ot th~ tsm~
or oth~r bans mad~ pa~tiatly or wAolly upotf ths Cu:latarat, may Irom tims to time be made without atlectirtg thr provisiuns of this note. Bank sha~l
e>~rc~ze roasonable pro in lhe eustody and pres~n~atwn of ths Collateral to the e:tent required by appticabt~ statute, and fhnll bs Asem~d to Asre
exerc~sed roasonabl~ ean if It takas sueh aetion tor that purpose as Msk~r sAail reasonabtr royoest in writing, but no omitswn to ~+o any act noc
ror;onsted by Msker shal! be deemed a faiture to •xer.;iss rsasonab~• can, and no om:ss~on to comply w~th sny requ~st oi Irlake. ai~ail of lts~ll ba
^a_•med a(ailuro to e,cercise reasonaWe ean. Bank sheli not bs bound to take any steps n~cess~rY to proserve sry nXhts !n the C~l~atn.s: aKalnst
c~:or parties and Maker shatl take slI necassary stnps fof such purposes._ 8ank or its ~om~nea nasd not coi~ect interest on or prlnsipa~ of any Co~~
.,!eral or giw sny not¢~ w~th reapect to iG It ths Cottateral shall at any t~m• Wcoma unsat~:~actory to Bank, Msker sha~f within uns day s1tt~ de-
..a pl~dgs snd deposlt with Bank aa paR ot tha Coliateral ndd~tlooal property whtch Is satistactory to Bank_
Bank Is hereby granted s seturity Intsrest in a!t prop~rty of Neh ObliQOr (whlch t~rm shatl msan and Inctude ~ach maker, indorser, surety and
quarantor of thls note) now or at any 'ime hereaRer in the poss~sslon of Bank in any tapacity whatsoe~er, includ;ng but n~ri limited to any batsnce
share of any depoiit, trust, o? rgency account, as security !or th0 paym~nt of thfs ~ote, and a simitar sacur+ty ~nterest ~n a? sucA property ot
rach ~A;,ksr as seeurity for the psYment oi atl othor I~ablGties; snd 8a~k fhall haw th~ san:s rights as to such p~ap~rty as 1t has with respex:t to
o Co'labrsl. The hotde? of thft note may at any tims, whetAer Ot not thla note has maturld, chary(e any indebf~dnesa reprosentad Gy thls notc aga~nst acy
.__:~s~; account, ger.eral or speclal. of a~y obfigor heroon, retuming any un~arned interest or d~xuunt: but ta;luro lu sppty any part or all of sr•d ae.coun:
tn~s nota or to enfurce any of th~ rigAts herein g~Wn the ho~der shal! not atf~tt tl.e UaWtity of any oDGgor Aereon.
Bank shall have, but shell not be limited to, tha (ol:owlna rightt ~seA of wl~ich may b~ exercised at sny time whetAer or not this nde Is due:
to ptedgs or t~ansfar fhts note and the ~Collalerst and Dank shall t~~roupon bs refleved of atl dudes snd nsponsib~~+t~es hareuoder and re'ievecf
•om any and all iiaA iity with respett to any Coliatoraf so'ptedged o~ tnns(e?rsA, and any p!ed~Ee or trans~eree sAa!1 for nll pwpo+es stond in thF
~ce of Bank hareunder ~nA bavs alI the .ights ef Ra:ik Mreunder, (2) to transfer the .v~.~ta or any psrt oT the Gol'ate~a! ~nto the n: rne o! ~ts~M cr
c, nomiraa; (3) to v:,te tha Coliateral; to notify th0 ob::gors on any Cotiate~~l to maka pa~ment to Gank of any amou~~ts Cur ur to becum! dua
i e~eon; (5) to demand, sue tor, co!lect, or make any comp:omise _ or sett:ert~ent it tleems u~svraole wRh rat~ranta to ths Co!iaterai; and (G) to ta~a
;:•:ssesslon and euM~of ot any proceads o! Coiiatsral.
i Ths hsppenin8 ot any of tha followirg events shall constitute a~sefault hereundar. (s) fsiturs of any Obligor to pay In tW~ any fnstatment
j oayaL:e hereunder promptly whan it becomes due: /b) tallure ot any Ubl:gor t~ pay in fu? when dW any Inde'.te.Jnsss, ob!~gat~on. or 1!.+b+hty tn Eia~k
~ ..!„ts~~avur, or any ~n,ta~~nent Yie~euf or iulerest chercon: fc; l3~~uro of any Obt~gor to perform any aRreer.±ent hereuniier, (d! the de~th ot any Obl~gnr;
f e: any O~IigOr bacomes ir.so:rent or any Insolvency proceed~ngs tas sald terrs "~~sol~ent° anA "ir,soLency p~ocuefinqs" a~e defined in the U~i~f..~m
~~::nmarcial Code) are mstituted or ma6a b/ or agalnst any GOli~or, ar epP:~catior~ tor ths appointment of a rece~ver tor sny O~•igor m'.or :+ny of the
~ rssets of any ODligor• (fi the issuing of sny attachment or garn,shmdnt, ar the t~iin8 ot sny lien agtinst any prcperty ot any OUttgo~.
~ if at any time•any warranty, rep~esentation, certificat• or statem~nt uf er~r Cu;~K~f C..hetrsr to.dai„ad :r. t`~s r.oia ar r.:.S; ~ar:atr.!r.g !o ar !n cna-
~~ect~o~ w~th t~If note ~r the luan or credit eviaenced hy thls note, Is not true, or upon the happemng ot any event oI defau!t as AeDncd hsreirt, or ;i
~ Fl:,n:- at any time feels (nsxure to? any reason whaisoever, t9e amount bt al! law(u~ charqes and !he amount ot the orig~nat princiµal sum loaned .
~-r~ ~nder toqether with irterest on the ba:arce !l~areof ~ema~nir.g f~om time to lt~ne u^pa~d at !he h~ghest !ax}ul rate. ~e•.s atl payments that havA
~ .:a~ made herounder, appi~e:f, at the date ot each such payment, to accrued lawt~,l ~:ha~ges and !o intnrest st the h~g+~est !~wful rate on safd unpa:a
~ rcipa! batar.ce ar.d then 2o prinupsl, shali become due ar.i paynbte torth.v~th or thereafte? at the opfion o/ the BanR and «~thout not~ce or dern.~r~:~
~ in no avent and under no urcwns!ances shall BanM o? any hdCer hereo/ he eat3Ued to ~naecrued or uneamtd Interest or othAr charges, anA in no
~ .-^r anA under no c~KU~~s2ancas sbatt Bank ur any holGer herlof be eot:t:ed hefeur.der to receive at a~y time any cha~ges not a11o~e.: or pe:m:ttrd •
' ' ~'<•w or aiy interest or :nterest rate en axcess of the r.~aRimum altov+ed by ~aw); (i~) ~ank may, at its eption, tharoupon o+ therea~eer ctc!are au •,tr•ar
•b ~t,~s, or any of them selected 5y Bsnk (notwithsta•~d~ng any provisions thereo~). imn:ediately due and payaL•:e witt+o-t ~emac~t or no'ice of
tout wdh tuch aU;ustments, rf:+~iy, with r~spect to any Inlenst or other charQes ~s msy b« protided for in thr prornissory note or c.;i.er wnt:r.K
~eociog such liability); (~i+) @ank shall haw ar.o may exercisa without d~mand any and att tne rights and reme~iu~~ K~w~~t-~J to a sr_u*eA r.~r'r
n. n defau~t under thr U~~form Commerrial Coda or othPrxlse evatlab~s to Bank ;~oeiu:!ing thosP ava:~~btn under any wr:!ter. Ushu~nent in adr e~~,i,
.~~~s n~te rclatmg to ar.y o1 the '~ah~Iities Or anY secu.ctv Cee~efor) and, w~:hout :imiting the gene~ahty of t?~e !oregoing. Bank s?~a!i hare ih~ r~~;ht,
~.^~~rGately and wi!hout (urlRer actior. by it, to set of1 agm~st thi~ note Tfl money o+red by tiark in any capec~ty to each or any :`!~'iRO., wF.ethrr or
cue, and etso to set oN against aIf oth~r Iiab~i~ties ot ea~h Maks? to He~k a!I money owe.~ hl ~ar.k In any capac~ty to e.+ch u en~ b•+•Fr, nrid
~ ••~k shatl b~ daen~sd to nave r,,ercised sueh nght of se1 o/f and to h:,et mnde a charge aga~n•.t ' ny Such rr,oner ~m~ne~~ate~y .cn thr. occ~.r
e o( such defn~It or other event even trw'_~qh such charge Is mede O? ente+eA On [he boows e.1 Benic sut,~syue~T t~ e. tr, an~ f! the ~,:~g~
and ssveratly, promise anA aF,ree to pzy a!I experees ot Bank in the coltect~on et this note and In the enTorcement of rght n<<e u:er
~ ~ enfortement of nRh!s unrer or w{th rrspe~:t to env of ihe Col'ateral, Inc:Jding reasonab~'e a:tameys' feec~ Any P/AG r,AS uf rr~r o<<ater~?i or
a-y dicpnsition of any CO~~TtBI`l~ fiay be~ at-~phed by Dark to the p3yment of r~pe:~set ~n co~~nrcbon w~:h t'~e Co~•ntr~~!. ~c~.~.•.'~np ren~oneb'.•
t~.r _ys' tees and leqal expenses. 1/ any notit~cat~~n of intenc~ed dispos~tlcn of r~ny .f the Co'iatera! is re~ufreA hy iaw, a!i .eq~lreme-~ts ot reesnnable
~ cr shall be mot, ar.d sucn not~ce shatt bt Ceemnd pruparly Ri':en, if at least 'ive ~ays bEloro such d~sG~si!•on such not~::e t~ srrved c•r `l.nKr,~
rh.: manner hareina~ter p+ovicxd. Vpnn d~spositlor o/ any Co~latera~ Meker sha!1 De and rr.m.a.n La6'e ~or nny de~ ~~r~~cy: +nd 9anv sr~a'? acc~•unt
~ ker for rny surpt;is, but Dank shr.!1 have the right t~ apD!Y o~ any part o~ surh su~0~~s to the pay,+~ent o! aay t~n4~.it:es ahether O~ not
~ r,, er eny of tnem, tre then due, and ln~such or{!er of app~~cat on as fiank may lrom time to t+me efeCt.
; No delay or omission nn tne paR ot Qank (n e:ercising any rvght herounder sha!t operste as a wa~var of such rtght or of env other righf undar
!h s note. tf more than or,s party Sfial1 eYeru!e this no!e N~e term "Naker' sha!~ mean a!I ua~t~es s gnir,q t!.IS r~ots anA eech of thtn~, in~nt~y and sev
''Y As ULld h~,rr~~ !h~ sir.q~'.lf shatl i^.ciude the nlurat ancl tFS D':i~~: Sh.:' mean an~ irr~~.!~ t!~e s,:~g~'r•' nnd a~~/ 4rr.nc~1. oi v.:ietevrr genda•,
nctuCe all Rt~''~~R. l.nv vot ce to Maker s!~a~! ix s:fhciently sene^ for ail purposes i1 d.:cdd ~n t'~e mei', p4titag•• Dr~ueitl, a~~A*esst7 or
upoo the Fremises at, the add~ess shoxn fiereon or any other address sp~~earng on epr~k's ~ecorOs.
taakar ackr,awSeCqes reaeipt of a cemp!ated copY of th!s rtote r~ the rMve ~ae+. .
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