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Home My WebLink About0983 ~ ~ ~ • , INSTALLMENT PROMISSORY NOTE ~ + 1ti.2~lE f~:.Ef A~Sth;i~TES. Ifl~.~ (A) Amount R~c~iwd s`~pp.p~ _ BANK NAME Prfmium for Crbit ~it~/pitability Ins. S b~~ 17. ~X 618~ JEI~~1.~~ Fl.. ~~7 tC) Oocum.oesry st.mas S- OFFICE AOORESS (DI OthN CMryp (it~m~i~) S _ S NOtE NO. DATE.O: 19 , 19_II, (Fi tfe ~ ~ 1 (G! Amount F;nanc~d DUE: ,~g a~. IA, 8, C, D, E, F? = 6~~_m (H) I~ttrqt s P~ACE: ~ , FLORIOA G~dit inwstiQstion S- 1'b!~! (Jl OtMr : - Fo~ va1u~ r*c~~wd. [he untlersigned Iher~in~ft~r Call~d "Maker") loi~tly and swerslly (ii (K) S more ihsn oM) promis~ to pay to the rdK of ths Ba~k, at its ollice listed above, the Totsl of Pavments (trom (Nl st rignt) ot ~1~.~.~ po~qr: paveb~e i~ (L) s . , the first ~MI FINANCE CHARGE equal montAly instatlments o( S (H, 1, J, K, L) S 3a~•~ ~ns?allment due on ~A• ~ , 19~, snd wbssquent in:tsllments due on (N) Total of P~yments (G + M) S ~ne l4tda of exh month thereafte?, toyett~er with a FtMAI. BA~IOON PAYMENT OF: ANNUAL PERCENTAGE RATE ID S ~ OUE M~ra..N•«.M~~~M~.~~.p.~ . The 8a~k shsti impose s delinQuency charge sgain:t the MakM on arry paymsnt whicfi hss become due a~d remains in detault fw a period in expss ot 70 days in an amount equal to 57fi of the amount of the principal pert ot the payment in dtfault. tn the event that ihe Note is not paid in tull at m~turity, sll pay- ments, whethe~ pri~cipal, i~terest or othenviu, shall bear inte~est st the maximum legal rate allowed under the laws of the State ot Ffo.ida. Att payments made heceund0~ SAatl be trad~ted tirst to interett ar?d then to p~intipsl, however, in the even~ of default, ~1~e Bank msy, in i~s sote discretion, apply any paymem to ~nierest, principal andla lawful charges then acc~ued. It is the intention ot the parties hereto that the provisions herein shall ~?ot p~ovide directly a indiractly ~er the payment of a g~eater rate of interest or the rete~tion o( any other charge ihan is atlowed by iaw. If, fw any reason, interest in exoess of wch legal rate o. a charge prphibitad by Iaw shatl at any lime be paid, any suth exCets shell either constitute and bs treatad as a payrti~.nt on the printipal w be re(unded directly to the Maker. The Maker may prepay the entire unpeid balanCe ot the loln at any time. If the loan is prepaid in full, sCtele~ated w rEfin.~nted, tAe Maker shall ~eceive a ~e~und of the unear~ied poruon oi the interesi and inwrance premiums cort+puted by the Rule of 78's method, ezcept chat the 8ank stwll be entitted to retain a minemum inte~eft tharge Of .~f.(b. CREOIT LIFE AND CREDIT IIFE d~ DISABILITY INSURANCE ARE VOIUNTAHY AND NOT REQUIRED FOR CREOIT. Such inwraoce covera9e is ava~table at the cost designated below tor the term oi the aedit: (a) S for Credit Life tnw~aoce (b) S ~or C~ed~t Life 8 Disability Insurance: Check ? Gedit lite Insurance is desired on the life of ~ "~U~ " Birthdate Box ? Gedit lite d~ Oisabil~ty Insurante is desired on y-_, Birtlxl te 2J Credit Li1t and/or Ditability Inwrante is not desired. Date: ~~r 1~+ !9~ S~gnature - Signature As security for the pa men[ 01 ehe Note tf~e Maker hereby grants to the n u ~ Kt in the tollowing per ~ ? i sterest i n Tu~t e_ R~t Co~d, i, raeord~d i e A R eent t~ ~ ~xr~ n.~. t,~,,,,~ Con~ D-7, llot. Nn. 0-7 as d~scr~h..~ iR s:t~ aarbgag~ . ~~~~~d~ ' ng all intreases, substitutians, repl2Cemp~ts, aclditiOnt and accessions thereto and in the proCeeds thereot (hereinaiter celled "Collateral"). This feWriry ~nterest sha11 also seture any other indebtedness or liability of the Maka to the Bank direct or indirect, absolute or contingent, due or to become due, now ex- ~st~ng or heteattEr arising, i~tluding all tuture advanCes or Ioans by thE Bank to the Maker_ The Bank is also given a IiM and a security interett in all property a~d securitieS of the Maker, endorser, wrety, guaranto~ or accommpdation party of Mis Note (here~nafter reter~ed to as the '"Obl~gors'1, now in or at any time hereafter coming into ihe rnntrol, tustody or possession of the Bank, wiut/?e. fp the ex- p~essed pu~pose ot being used by the Bank as Collateral, or fa any other puspose, a~d upo~ a~y balanCe or balances to the aedit ot a~y aocounts, includirg c~ust and agency accou~ts maintained withthe Bank by any of the Obligprs, and the Oblgws agree to deliver to the Bank additional ~ollate~al w make wch payments in reductio~? 01 the prir?cipal amount ot [he loan as shall be satisfactory to the Bank, in the evenc the aforemerttroned Collace?a1 shall decline in value o.• become unsatniactory to the Bank. Additions to, reductions or exchanges oi, or substitutions for the Cotlateral, payments on account of this loan or increases of the same, or othd loans made parc,ally w wholly upon the Collateral, may trom time to time be made withouc affecting the prwisions of this Note. The Bankshall ezerc~se reasonable care in 2he custody and preservauon o( the Cotlateral to the eztent requ~red by appticable statute, and shall be deemed to have exercised reasonablt care it it takes such ace~on for that purpose as Maker shall reasonably request in writinq, but no omission to do any act not requested by Maker shalt be deemed a failure to exe.cise ~easonable care, and no omiuion to compty with any request of Maker shatl 01 itself be deemed a failure to exercise reasonable care. Baok shall not be bound to ~ ake any steps necessary to preserve any rights in the Collate~at against prior parties and Maker shall take a!1 necessary steps to? such purposes. The Bank or its nom~nee need not collect ~nterest on, or a principal of, any Collateral or give any notice with refpe~t to it. The Bank may co~tinue to hold any Collateral deposited hereunder after the payrnent of this Note, if at the time of the payrtient and discharge hereof any of the parues hable for the payme~t hereof shall be then dirtttly or contingently liable to the Bank as INaker, endorser, wrety, guarat~tor w accornmodation pa~ty of any other rate, d.att, bill ot ezchange, w othe? instrument, or otherwise, and the Bank may thereafter exercise all rghts with respect to said Collateral g~anted he~ein even though this Note shall have bee~ wrrendered to the Maker. If the Bank dsems itseff insecure w upon the happening of a~y of the following events, each of which stwll constitu[e a default, a11 liabilities of each Maker to the Ba~k, including the entire unpaid pri~tipal of this Note and xtrued interett, leit any unearned interest and any intetest in exoers of the rtliximum allowef! t by law and any rebates ~equired by law, shall imrt~ediately or thereaiter, at the option of the Bank, except that the occwrence of (c) w(d) shall cause automat- ~c accelerauon;without notice orc~mand, becomeciue and payable: (al the failure of any Obligor to perform any obligation, liability w daim co the Bank, to pay ~nte.at hereon within ~Odays after it is due, or if there is no due date, after it is biiled or otherwise requesced or demanded, or to pay any other liability wfiat- e scever to the Bank when due; (b) the death of any individusl Obligor, the dissolution oi any partnership Obligor or the diuolution, rt~erger o~ ew~sol;dacion with- ~ ou2 the Bank's prio~ written consent ot any corpOrate OWigor; (c) the tiling oi a petition in bankruptcy or the adjudiwtion o( insolvency o? bankruptcy under ; any rewganization, ar~an9ement, readjustment of debt, dissolution, tiquidation or similar proCeeding under arry/ Federal a statt statute, by w against any Obl+gor; Id) an application for the appointment oi a receiver (w, w the making ot a general auignment fw the benefit of creditws by, any Obligw; (e) the entry 01 ~udgnxnt agairut any Obligo?; (f) the iswing of any attachment or garnishment, w the filirg of any lien, against any property of any Qbligor (g) tMe takiirg of pozsession of ar?y wbstantial part of the property of any Obligor at the instance ot any governmentat authwity; Ih) the dete.mination by ihe 8ank that a mauri- al adverse tbange h~ atturred in the financial tondition ot any Obligor from the conditions set forth in the most reoe~t finantial sWtement of wch OWigor heretofore furnished to the Bank, or from the eonditian of wch Obligo? as heretofwe most recently disdosed to the Bank, or that any vrarranty, representation, certificate w statement ot any Obligor (whether contai~ed in this Nots or ~oti pertain7ng to or in connettion with this Note a tAe loan evidenced by this Note contairu an untrue statement of material fact w omits to state matsrial fact necessary in order to make the statements rt+ade not misleadi~g; or, (i) the auign- ment by any Maker ot amr equi[y in any of the Colbterat without the priw vvritten consent of the Bank_ The Bank shall have, but shall not be limited to, the foltowin~ .ights, esch of which may bs exercised at any time whethe? o? Rot Mis Note is due: (i) to pteJys or tAnttK this Note aSM-th~ Collateral and the 8ank s1ia11 tl~ereuppn be ~elieved ot sll dutirs snd rssponsibilities hereunder and relievad from any and all 1 ~ab+lity with retpett to sny COllatenl so pladged pr trensferred, and s~y pledgee Or transferee sha11 fo~ all purposes stand in the plate Of the Ba~k he.aunder a~d have aU the rights oi the Bank Ae~eond!?; (ii) to tr8nsier the whok w any part of the Collsteral into the narM o~ itself or its narninee; (iii? to wte ths Collstersl; (~v1 to noti(y tAs Obligo.s of any Collateral to make payment to the Sank of any amounn due o? to becorr~e due thereon; (v) to dsmand, we tor, collect, a make anY compromise or se[demene it deems desirable with reference to [he Cotlatersl; and (vi) to uke posssssion w con~rd of any prooe~ds of Collsursl_ 1 *'B~IK" as used herein ssans Turtle Reef Associat~s. Inc. and/or its assi~s. ` NOTICE: SEE OTHER SIDE FOR IMVORTANT INFORMA710N A f FB5 752 Rev. 7l77 ~ nrL_~ D~rr ~1~~