HomeMy WebLinkAbout0623 ' ' ' - ~ h~`~ 1~~~ t . - • .
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~ - INSTAIIMENT PROMISSORY NOTE ~
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TURTLE REEF ASSOCIATES, INC. * t~u R.o.~,,.a = 4000 00 ~
BANK NAk1E ~ 161 P?N~iY/n Ipr G~dit
u~.~ow.au~ s none - _
P.O. 60X 618, JENSEN BEACH, FL, 33457 ~c? o~,~u~ s~ none ~
OFFICE AOOiiE55 (D~ OthN Chi/qp (iqflliZ~I s_ none
. ,
t~ s_ none
NOTE NO. OATEO: OCt. 26 .19 77, ~F~ s nnne
NOV . 6 (GI Amount Finsnc~d ~
Du E: , ~g 8Y (A, 8, C, D, E. F! S
~ ~H~ ~~«.~e s 2d99.4Q
PIACE: . FlOR1OA c..o~~ ~~„~~g.~~«+ s none~
o~nK s none
For wlu~ rsc~iwd, tM und~nign~d lh~.~inaftN ~INd "IM~k~i '1 laoNy and sr~sHy (it (Kl s none
more ~han on~) p~omis~ co Day co chs o.dK of clw Bsnk, ac ia offip lisad abov~, th~ ToW
ot PaYm~nts (lrom IN) st ~ig~tl ot ~~1Q4 _ Q~l pplt~n p~Ysby in .,_6t1., tu s nQn@`_`
lM1 FINANCE CNARGE 1099.40
eq~a+ monu?hr ~nsts~u~na ot 3 , th~ first (H~ J. K. U S 7~~
instsllrtwnt du~ oo ,19~Z. snd subs~qt~tt irtttsllrtwnp dut on (N) Toa1 ot Paym~na fG + wll t~Vy~
~ne 6t~dsy of ~acn nwoM c~.es+~~•, to~e~n~r w~M: F~~u?~ eA1.1.OW+~ vAYMENT OF: ANNUAL PERCENTAGE RATE • ~i •
5 ~nnn OUE ---------t-i9
The Bink shill irtipaN s dNinqueety ~iryf sy~i~ut tl» Mikfr On arry piynNnt w1~ieA hss b~can~ du~ ind tlnyie~s in dtfsylt fpr a pKiod in ~aCN~ o! 10
dayf in an sequnt ~pu~l to 5% of tM snwunt of tM printipsl psrt Of th~ psyn»nt in d~fsult. I~ tfN Mnt tAat tM Not~ is not p~id in full st rtyturity~ an p~y. '
me~n. wnnn~. w~neiroa~, inc~.est o. o~M.w'~s~. s1+a~~ bwr ietsr~st u ch~ msx4~wm ~1 nu a~~ow~d und~r tM laws ot tM Stsa ot Ptorid~. ~ui asyn»na n+~d~ ~
nereunder sh~ll b~ endit~d (irtt to intK~st and tMn to Wi~ciPM. horwwr, in tM ~+r~nt of d~hult, tM Bsnlc +~wY, in iq fol~ dad~tion, aOP~Y ~nY P~rin~ to
iniKlSt. PI~/1C1pi~ ~l~O~ IiWfUI ~~lif'fltf lhl~1 iO~fll~. ~i /f 1~N IfILMtWfl O~ f~1~ wfllp ~I~1KO 1~1it L1f~ pfOYl~lOfq NKl1f1 ~li~~ flQt Qf~0Y1l~ dIhCT~y 0/ 1f1d~f~h _
f or th~ p~ym~nt ot s gn~qt rst~ of iotattt or tht ?~antion of sny othK thsry~ Msn is a1b+~W by I~w: lf, tor any ~on, int~rut in ~xpu pf tueh Ip~{ rab p=
a cha?9~ PrQhibibd by law sAMI it sny tin+~ b~ psd. anY wth fxutt ~Asll lithM ca?stituq snd b~ uqbd at a paymeot on tM printipal or b~ tNund~d di~~ctl~'.
ro tM Mrlcp. ~ _ - ~ ~ -
_ . _ _ _ ' , . .
The t~ANcer nrY P~~v`1? d+e a+[in unDa~d b~lancs ot tM Iwn at sny t4+K. If th~ lo~n is P?~P~d in tu11. soo~krsnd a~~inN~o~d. the 1~lak~.~IqN ~r+~o~iN s`--
refund of th~ unwrMd portion Of the inter~st and i~sursnct ptemiums tomput~d by tl+~ Hut~ ot 78's nf~thod, fxapt Mst th~ 8ank shNl bt ~ntitNd tp htaie
a m~nimum inttnst C11ar~ of 56.00. - - - • - ' : ' _ -
CREOIT LiFE ANO CREDIT LIFE 3 OISA81lITY INSURANCE ARE VOLUNTARY AND NOT-RE~tJ1AED FOR CREOIT, ~eh in~ur~npcov~rp~ii
availaW~ st tM tast d~sgn~ad btlow fo~ tM t~nn oi th~ d~dit: Isl S ~ fo? G~dit 4h In~ur~~ (W S
for G~dit 4h at ~bility Imunnc~: - . _ . _ - -
Check ? Cradit~Lif~ Iroursrw it dtsir~ on tM lif~ of ~ - - - : - - • ' _ - -!e, ' -
_ . . . _ - • 'Bi~il~ ~ i: ~ • ' L•. _ . _ j _
Bo,c Q Gedit lib B:Disability liuuranq is d~sit~d on ' - ~ - . ' _ - -
. - - _ . . _ 6irthdate _ _ ~ - . : -
~ Cr~dit Liff andlO/ O'~ssbility Inw~ane~ is 1~Ot desired.
Da[s_ - OCt. 26 ~ 1977 ~ - s~acu . - - _ _ _ _ ^ _ _
Rabert J. F1 - -
sgna~ure _ . ' _
As securiry for the paymer?t oi the Note tM Maker he.eby g~ants to [ nk a seturity i~cerett i~ ~F~A.~.~. an (~]j~9~1
indud~ng all inueases, wbstitutions, replscert~ents. additans aod acoessions thereto :r+d io :Ae proceeds thereof (hereinafte. cslled ..Cpllatenl"). This sicurity
~nterest shsll also sxure any other irwebtedness os liabil~ty of the 7~ASker to the Bank dir~et or indiree[, absotuce or co~~in9ene, due or ~o bscome due, now ex-
; st: ng or AKe~her xising, induding atf futwt advancss a loans by tM Bank to du Mak~r. - -
Tt~~ Bank is abo giv~e ~ lisrt and a t~tu?ity i~t~nst in all prop~rty snd aacuriti~s of tht Msker, andoaer, wreb. 9~~~ orsooormnodacion p~rty of dNS -
No~e (hae~nafter refur~d to ss the "Obtigon"1. now in w at sny [irtK hus~fur eoming into ehe contrd. ouscudY or pos9ess~on of the Bsnk. wlrthlr fa tht ac- -
p~essad pupos~ of 6~ing wed by the 8mk as Collsten~, or tw aMr other purimse, and vpon my balance or balsnces to the uad;t of sr~y aecounts, incfudi~ -
crust and ag~ency accounts eeninqir+ed w~thtM Bsnk by a~ of tM OWigors, snd the Ob1N,prs agre~ to detivt~ to the Bank sddicional Colqter~l or mal,~ wd~ -
vavm~nts ~n nduction of th~ PrinciPsl xna~nt of tM Iwn s~ s1aU b~ a~Cufscte+Y co th~.BtNc. in th~ ~nt-th~ afor~+ention~#Callat~nl shM4d~din~ i~vM~N
or beeort~ W~sitisfsetOrl! to th~ Bank. _ - - - • - _ - . . • s~~ t1e -
_ _ _ _
Addicions eo, r~duc~ian o~ excharges of, or wbstitu~iw~s for tM CoHsms~, paymenls on sooouot d rha lom or inurssp ot d~ sun, or otAer lo~ns nfsd~== ~
parcia:ly a v~iwlly u~wn tht Cdlsts?sl, msy from rim~ to time be made ~ithout aff~aiig th~ provi~io~ of this Not~. The 8ankyqN.r~ae e~on~bft_pr~.i~i _
the custody and p~vation o~ the Colbtent to the extent nquir~d by appiiesbl~ ststutt,-and shs11 be dwn~d to iare exe.cad r~iso~able pr~ if it tak~ssuck-•.
act~on fw that purpose as Nbker SAall reaso~abiy r~quest io writing, but no omission to do any xt no: reqwsced by Msker ~hs11 b~ de~,r~ed s bHure to nnrci~~=-'
reasonaW~ cara, and no omission to tomply with any request of Mskar ~I+all of itsslf b~ d~emad a fsilun to exerene ressonabl~ ean. Bsnk slqll not b~ bound po '
rake aMr steps nec~sss.y to Weterve anY righp in the Collats~sl agsinst pr'ar osrties and Mak~r t1+sN tsk~ sll n~qstary st~ps for suCh py~pp~es, The gsnk or its.-„ i
nominee need not co~Net intMest on, or a priecipsl of, any Colbmal w giw sny nocioe wid~ m~psct te it. - - ~
Tne Bank may concinue to hold any Collaterst dapos+[cd h~.eu~ afcK [he payme~t ot this Nou, it st tM tim~ of [h~ psyment snd diseAsrg~ hKwf any pf
the parties I~ab1~ fw the Wyment hereof sh~ll be tAen ditectlY or contirgently IiabN to the Bank ss Maklr, endo~sK, wrety, guarantd ot socprtrnodatipn puty
of any othK note, drsft, bill of exchange, w other instrument, w_oMNVas~, and the Bsnk msy thKesfter ezercise atl righcs with rapect to ssid Co14tN'sl
g~anr_d here~n e~ren tlwugh this Piote shat( have b~een swrende~ed to tM 1Ytakar.
If che 8ank deems irsNf insccure w upon [he happening ot any of tAe followinq events, etch oi wAicA sbsll oonstituts a defwlt, all lisbilitia of each Msktr to
cne Bank, encluding the ?nrire unpaid p.~ncipal of this Note and aouwd interest. tess arry un~srned interesc and any ineterest in excess ot tht rtfsxim~m sNowsd =
by law ~+d arw reWtes required Dy iaw, shall imn~diateiy or Mereaf~e., at cM optwn of th~ Bs~k, e~ccept that ths ottw~encs of k1 or (d) shatl tau~ automat.
~c ~celeranan; nnthout notioe or d~rtarwf, becwns due and payaWe: iai th~ fsilure of any Obligw to perfo~m sny obligation, liability or dsin to the Bsnk, to psy
~n ter~ytt hKeon within 1Odiys ~ftsr it it due, d if thKe is np due datl, afcer it is billed o? otharrrisc ipuested w dertwnded, Or t0 pay sny Othlr IiabiliLy what-
s:?ve. m the Bsnk when dw; (b) th: dest~ of arty ind~vidual Gblgw, the dissWu~ioo of sny p~rtnerahip Qbligor or the diswlution, mergaoropmplid~~ion with.
ouc th~ Bank's p.io~ writt~n consent of a~y cwp~:rste OWiga; (c1 u+~ filing of a pttition in b~nkruptcy ar tht ad~udidtion of ieaoiv~ncy or bank.upt~ qrrdu
ar+y rAo.ganizat;on, aznnyernent, readjuatrnent o~ debt, dissolutwn, liquidstwn w similsr prowsdiny u:tder any Fede~al or stat~ ststute, by or ag~inst sny
Obl~gor: (dl an appliqtion for tAe aUpointmd+t of a nceiv~r fo~, w the mfking of a 9~nersl na~nt tor the benefit of creditds by, sny Obiigpr (~1 t!N e~yry
~f ~udgment against any OWigor: (tt the iswing of a~y attaohment w gt~rtisAme+u, o~ t!?e filirg of sny lien, against any property of a~y Obligor (gl tM qkirg o(
possession o? any substsntisl psrt of the properly of any ObligOr st the irotance of any gov~rnmenal authaity; (h) the dttNmination by tIN Bank tf+st s matKi-
aI adverse chanq~ has ooCUrred i~ t1+e finsncisl oondition of sny Obligpr frpn t1~s r,onditioe~s set forth in tiN rtlost reclnt tinantis( stitenlent o! ~udf Obigor
heretofcre furn~shed to the Bank, or from the co~dition of sudr Obfigor a~ 1~etofae most rKently disdwsd to the Bank, or thss a~y varranty. r~a~nqtio~,
certifieatt w statement of ~ny OWigor (whethM eontai~ed in 11~is Nots or nod Datsining to w in eonmctio~ with this Noq or tM loanevida+qd by this NoM .
co~rai~ a~ untrue stsusment of materisl fact o~ omia to ststt msterisl faet necesssry in order to npk~ tht ststem~nts msd~ not misle~ding; or, (i1 tM ssrign-
m•.nt by any Nlsker of any ~Quity in ~ny of tha Cofls~erai witRart tht Wior written tonient o! t!N 8ank. ~ - ,
Th~ 8ank shsll h~, but ~MII noc b~ iimi[~d co, cM /ollowirg rghts, a~df of wbid? inf~f? bs txr*eis~d st anp• tien~ whtdMr
or not this Moa is
due: (il ro~
pledq~ O/ t?snsfa thi! Nor and th! CAllatlril ir.d ds! BsNt fh~N tl~.eW W~ b~ nINOW Of W a1tNf ied rhpons~bi~itilf IflrNnMl~~ ind tllNlr~d h01t1 anY Md iN -
hab~lity vnith reso~et m sny Co~yteral so pl~dg~d or vsnsfarnd, snd s~y Pk~ or nand~ne shall tor a11 Puepo~s ~rand in tM plsa of the 8snk Mr~vnd~r sr~d
naw all th~ righta oi tht Bsnk MrwndM:lii) to trsnslK tfN w1ruN a~rry psrt M tM Coibqra~ into tM nsrn~ of itsNf o? its r~oinit+M: (iii) to w» tM Collsterai;
(~vl to not'ty the OWigors of any Collatersl to ~nske psyrt~eK to the Bsnk Of any sn~onnts dw or t0 blo0rt~e dut thereon: to dem~ed, sw fa` oWlsec, or
rryke slly CO~np~omise OI sttt~eerMnt it de~ms desirabfe with r~f~rMC~ to th~ Co14t~ra1: s~M1 (vij t0 tik! pOSStssion Or COntr01 pf sny prptNds pf Cpllat!/!1.
*"BANK" as used herein means Turtle -Reef Associates,: ~Inc. and/or .its. assigns. . w ~ ' ~
NQTICE: SEE OTHER SIDE fOR IMPORTANT INFORMATION U~~ t,
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