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l~c~rtl e~f~e~f As soc i atcs , I nc . INtTAItMENT NOTE ?
BANK NAME (SKYf~ alld Ul1~l~YfNh i
P.~. ~;~3x Gli,, ~ans~n Seach, Flot•i~a ou•, v. ] 1 19 Kl = ~,8b1.8~' ~ ~
LOCATION • ~ ~
No1t Ne. ~ DaNd: m~ r• , 19 lo~n T~~ms:
P.«~.as ~ . 5, 3~32.,. ~0._._ ~
- Si-x-tY.- .{6G.).._ Months...- - - ct~u?RaE s _1_,479_._6~ ;
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after date the unders~gned, hereinafter called Maku jointly and severally Decument~ry .
promise(s) for value received to pay to the o~der ol t~he Bank, at its otfice Stamps ~
as iisted above the sum of (totat oi payments)_ Credit Lif~ or life °
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SIY T'tiL~L~SRiiD EIGti7 Nf;t~IDRED SIX7Y-O~E AWD ~0/100 d~Otsability)Ins.i ~
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po Othe ( mi )
ilars r ife ns = ~
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with_iotarost tfieraon at tM rete of • ~ 96 per ennum, all payable in S
~o -11a ~6 s - ;
monthly instellments of s. . ~ch o~ the ~ 1~~ day of ~
esch suaeuivs month commencirq on ~CC r _7 ~J1 . 19._ ~ ~ . to~sther wlth f . #
a BALIOON PAYMENT Of i-----._ .ya~~- Due X..- , 19 . ~fINANCED ~J,3n2. ~Q `
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A fine computed at the ~ate of =.OS per s1.00 on each instsl4r+~nt in defau~t fa ~~~~tely collected ~
a period in excess of 10 days msy be charyed fhe Meker. No such fine shal~ ezceed char es ~t ;
SS.00. Mska is required to pay all costs of collection, includiny a reaso~sble attor- 9 emite)
ney's fee if rofened for collectio~ or legal proceedinys. All payrnents. whethei prin• S '
cipal, iMerest or otherwise, not received when due shall bear inferest at 1096 per, i_...____.....___..._..____. ~
annum fram due datB until paid. All peyments m~de hereunder shall be credited, ANNUAL PERCENTAGE RATE __.__iQ~, ~
fint to interest, then to lawful charqes then accr~ed, and last to p.~ncipal. -
If the losn is prepaid in iull, saelerated or refinanced, the Maker shall as of tha dste of such event receive such refund of the un-
earned poAion of the credit life insurante premium snd finance charge and suth other credit as may be required by law ot as may be ~
neceuary to avoid usury, provided ~hat the Holder may retain a mimmum (insnce charge of =25.00, whethe~ or not otherwise esrrnd,
and except in the case of a ~efinsncing, no finance cha~9e w premium re~und shall be msde if it amounts to less than i1.00. Retention ,
of any minimum finarrce shall be in addition to se.vice charye if any. Any lanpuaye eliewhere herein to fhe contra?y notwithstandin~,
n~ither Bank nor sny holder hereof shalt receive or re~ain any charge or interest not allowed by law. ~
As secvrity for the psyment of this no~e Maker has pledged o. deposited with'Bank the follpwi~ :___.A O. ~7~~`,~ und i vi ded ~
interest---in....---Turtle__Reef_.~ond.--I.,,_reoj,rded jn J,R._..8ooic__2.~t~,~a'~ge:2~~1:::~TJn~t .'~kks •
a.!~~ _~._~_~.CQnd. ~-5,,_ApL _No_. i._-5 as--describe~--in said nortgage ~
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(includinq all cssh, atock and othe? d~vidends and all r~gh~s to suburibe for securities incidenr to, declared or pranted in connection with '
such property). which property, togerhe? with ali addit~ons aed substir~tions he?eafter pledged or deposited with Bank is calted the Co1- '
lateral. the Collateral is atso piedged as securi~y fa all other liabiliries to Bank, (prima?y, secondary, dircct, contingent, sole, ~oint or y
several), due a to become due or which may be hereafter contracted or acquired, of esch Maker (or of each Msker and any other per- i
son). The surrender of this note, upon payment or otherwise, shall ~ot affect the right of Bank to reta~n thc Collatera~ for such other j
liebilities.
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- CREDIT IIFE AND CRE01T LIfE ~ DISABILITY INSURANCE ARE VOIUNTARY AND NOT REQUIRED FOR CRE~IT. Such insurance ~
coveraqe is available at the cost designated below for the term of rhe crodit: (a) t. _ fa Credit Life In- ~
sursnce (b) S---------------_----•---.------ fa Credit life 6 Disabiliry Insurance:
Ci~ack ~
Appl. ? Credit life Insurance is desired on the life of j
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Boz
- BiHhdate i
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Ctedit life ~ Disability Insurante is desired on _ ;
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- BiAhdate
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Credit lxfe and/or Disability Insurance is not~sired.
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Date: • = • S~ynatureX .-'-,~-•y',''st ~;.i: -S='---?--------. -C)O1"Othy L, k:rie~er
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s~9~ar~~e .X_---.~' ~ - 'f~=- ~ r ..,-~dna C. !~ri eypr ~
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Additions to, reductions w exchanges of, or substitutions for the Collateral, peyments on account of this loan or increases of the
I ssme, or other loans made pertia{ly o? wholly upon the Collateral, may from time to time be made without affetting the proviyions: '
of this note. Bank shall exercise reaso~able ca?e in the custody and preservation of the Collatersl to the extent required by spplitabla.
statute, and shsll be deemed to have exercised .easonab~e care if ~t takes such action for that purpose as Maker shall reaso~ably rcquest
in writirg, but no omission to do any act noc requested by Maker shall be deemed a failure to exercise reasonable care, ar+d no omis-
~ sion to comply with any requesr of Meker sfiall of irself be deemed a failure to exercise reasonsble care. Ba~k shsll not be bound to
take sny steps necessary to preserve any rights in the Collateral against prior parties and Maker shall take all necessary steps for such
purposes. Bank or its nominee need not collett interest on o? printipal of any Collete?al or give any notice with respect to it.
If the Collstersl shell at any ~ime become unssr~lfactory to Bank, Meker shall withln one day after demand pledge and deposit
with Bank as part of fhe Collateral additior~al property which is safisfactory to Bank.
If Bank deems itse~f insecure, or upon the hsppening of any of the followi~g events, each of which shall constit~te a default herr
under, all liabilities of each Maker to Bank shall thereupa? or thereafter, at the option of Bank, without notice or demand, betome due
and payable: (s) the failu.e of any Obligor (which term shall mean and include each Maker, endwser, surety, snd guarantor of this
note) to pe~forjrt any agreement hereunder, to pay interest hereo~ within ten days after it is due, or if there be no due date, efter it
` is billed or otherwiu requested or demanded, to pay any other f~ability.whatsoever to Bank vichen due; (b) the death of eny Obliyo?;
~ (c) the filiny of eny petition under the Bankrupfcy Act, or any similar federat ar state statute, by orsy ainst any Obligp; sn applics-
tion fw the appointment of a receiver for, the making of age neral assignment for the benetit of creditors by, or the insolvency of sny
Obligor; (e) the entry of a judgerrKnt against any Obligor; (fj the issuing of any attathment o? yarnishment, or the filing of sny lien,
sqe~nst any property of any Obligor; (g) the takin9 of possession of any substantial part of the property of any Obliflw at the instance
of any governme~tel suthority; (h) the dissolution, merger, consolidation, or rewganization of any Obligor; (i) the assiynment by any
Maker of any equify in eny of the Collsteral without the wri»en consent of the Benk_ Each Obligw hereby waives any requireme~t of
notice w demand reflecting s~ch acceleration insofar as such reqoirement be in additio~ to the mere exercise of amr remedy afforded in
this Note or the institution of suit by the then holder.
Bank shall have, but shall not be Iimited to, the followiny riehts, each of which mey be exercised at sny time whether or not this
- note is c~ue: (i) to pledge or transfer this note and the Collateral and Bank shalt thereupon be relieved of sll duties and responsioilities
hereunder and relieved from any and aIE Iiabil~ty with .espect to any Collateral w pledged or transterred, and sny pledyee or t?ans-
feree shall for sll purposes stand in the plxe of Bank hereunder and heve all the ~ights of Bank hereunder; (ii) to tronsfer the whole
or any part of the Collateral into the name of itself or its nominee; (iii) to vote the Coliateral; (iv) to notify the Obligr.rs of any Col-
larerol to make payment to Bank of sny amounts due or to become due thereon; (v) to demand, sue for, collect, or make a~y compro-
mise or uttkment it dcems desirable with reference to the Collateral; and (vi) to take control of any proceeds of Cotlatersl.
8ank is hereby yivert a lien upon and a sec~rity interest in all property of each Obligor now or at any time hereafter in the pos-
session of Bank in any cspaciry whatsoever, includiny but not limited to any balance or share of any deposit, trust, ors~e ncy account,
as the seturify for the psyment of this note, and a similar lien upon and security interest in all suth property of each Maker es security
for the payment of all other liabilities of each Maker to Bank (includiny liabilities of erch Maker s~d any other perw~); and Bank shatl
hsve the same rights ss to such property as it I~as with respect to the Collateral.
If Bank deems itxlf insecure w upon the occ~rrence of any defeult hereunder Bank shall have the foretlosure and other remedies
of a sec~red parly under the Uniform Commercial Code, or other applicable law and, without limitinq the generality of the forepoiny,
Bank shall have the ~ight, immediately and without further sdion by it, to ser off against this ~ote ell money owed by Ba~k in any cs-
pacity to each or any Ahaker; and if such ~t off shall occur, Bank shall be deemed to have exercised such riyht of set off and to hevs
made a charye sgainst any such money immediately upon the occurrence of such defautt even though svch charge is made or entered
on the books of Bank subsequent thereto. Unless the Collsteral is pe?ishsble or threatens to decline speedily in velue or is of a type
customarily sold on a recognized market, dank will 9ive Meker reaso~able notice of the time snd place of any public ssle thereof or of
the time after which any privete sale or any other intended disposition thereof is to be mede. The requirement of reasonable notice shall
be met if svch notice is mailed, postage prepaid, to any Msker at the address given below or at any other address shown on the rec-
ords of the Bank, at Ieast five days be~ore the rime of the ssle or-dispositic+n. Upon disposition of any Colleterol efter the occvrrence
of any default hereunder, Maker shall be and remain liable for any de~iciency; and Bank shall account to Maker for any surplus, but
Ba~k shall have the right tp apply all or a~y pan of such surplus (or to hold the same as a reserve ayainst) any and all other liabilities
of each or any Maker to Bank.
No delay or omission on the part of Bank in exercising sny right hereunder shsll ope.ete as a wsiver of s~ch riyht or of any other
right undtr this note. Presentment, demand, protest, notice of dishonor, and exrensio~ of time without notice sre hereby waived by
esch •nd every Obliyor. The Obligo~s, jointly and severatly, promise snd aqree to pay all costs of collectio~ srd ressonable ~ttaneys'
fees (not less than 1096 of the principal sum) incurred or paid by Bank in enforcing this note upon the acurrants of ~ny defaulf.
Any notice to Maker shall bs sufficiently terved for all purposes if leh upon or plsced in the msil, postape prepsid, sddressed to the
premises at tha sddress shown below a eny other address shown o~ Bank's records.
Wherever this note is executed by a co-maker or endorstr who is the wife of e maker or endorser, the seid wife does hersby ex-
pressly acknowledpe the within debt as her jant and individval debt. .
Each of Maker acknowledfles receipt of e complered copy of thi~ Nots on the above date. ~
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Address. --~i',(~!si$1" •~YL?: • - ----__.~.~:..__r_~~_iY._.~--•---- (S~sh