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Home My WebLink About0394 INSTALLMENT PROMiSSORY NOTE (A) Amount R~ce~ved = (8) Pr~mium (or Credit na~ Lil~/DisabilitY In:. S P. 0. 60X 61$~ JENSEN BFJICN, FL. 33457 (C) Oocumtnary Stampi s~ ~ OFFICE A~ORE55 (0) OtMr Cha~~p (~temite) _ ~~e ~p ~E~ s ~ NO7E NO. UATE~: JaO~ . 19„LLL• (F) S 1101N (Gl Amount Fina~ced 7UE: Flbj~~ Z , tg (A, B, C, O; E, Fl S_~~_ (H) Int~r~tt s P~aCE: , FIORIDA (1) Cwdit Inv~su9ation s~ UI OtMr s ~ Fo~ value nceived, the und~rsg~ed Ihatinafter caltad "Msksr") jointly and severally (ii (K) s r~~ ~nore than o~?e) prom~se to pay to the ord~. ot the Ba~k, at itt oif~ listed abo~re, the Tout ; ot Payments (lrom (N) at ri9ht) of Si2~~,.~ Oo~lar: wYable ~n iLL , S e~aual mo~thty installments of S 1~_Sl , th~ tirst ~M1 FINANCE CHARGE 4T~.'~Q (N, 1, J, K, l) S ~ns~allment dus on_ ~~h i , 19~, and wbsequent inttatlments due o~ INI Totsl ot Psymsnts IG f MI S • t~oy ~„-„,w ~1r.tgfrt? ?...;.t~. wi~h a PtNAt BALLOON PAYMENT OF: ANNUAC PERG~NTAGE RATE • 7(i 5 DUE , 19 The Bank shall irtKwse a dNinque~cy chargs against the Msker on any payme~t which hss become due and ?emains in detsult tor a period in expss o1 10 ~}ays ~n an amount equal to 596 of the amount of the pri~cipal part ol the payment in deiault. In the event that the Note is ~ot paid in fu11 at maturity, sl! pay menis, wl?ether pri~cipal, i~te?est or otherwise, shall bear interest at ths maximum legal rate illowed under the Isws of the State oi Fiorida. All payments mada hereunder shall be credited first to interest and the~ to printipal, howeMer, in the aveni o! detault, tMe Bsnk may, in its sole diuretion, apply sny payment to ~~,ce~est, prlncipat a~d/o. lawful charges then accrued. It is tAe intentipn ot the pa~ties hereto that the provisions herein shall r?ot provide dircctly or irtdirettly to, the payment of a greater rate of interest or the mtention ot any other charge than is allowed by law. If, tor any reason, interest in exceu ot wch te~al rate or cnarge prohibited by law shs1l at any time be paid, a~y wch excess sha11 either constitute a~d be trsat~d as a payment on the principal or be refundsd dir~rctly ~u the Nlalcer. The Maker may prepay the entire unpaid balance ot the loa~ at any time. If the ~oan is p~epaid in full, atcelerated or retinanced, t~e Maker shall recewe a ~ e~ und ot the unearned portion ot the ince~est and ~nwrance premiums computed by the Rule oi 78's method, except that the Bank shall be entitled to retain e m~nimum ~ntergst Charge of ~J.(b. CREOIT LIFE AlYO CREDIT UFE & DlSABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREOIT. Suth inwra~te coverage is ;va~tahle at the cost desrgnated below 1or the term o? the tredit: (a) S for Gedit L~~e Inwrance (b) S ~ +u~ Credit Life de Dissbility Inwranct: - Cneck ? C.edit Lite Insuraoce is desired on the tife ot - aPP~. Birthdat@ . B,x ? Credit L~fe d~ Disability Inwrance is desired on ' Birthdate ~ Gedit Li~e and/w Disabitlty Insurance is not desired. ' , Uate ~ntuw 17 _ ~nl Signature ~ "°~-~c~ ohn l. f li ier _ - S~9nature ` As security tor the paYment of che Noce the Make~ hereby grants to che 8an ter i property: ~N ~_~76~ undirided ~~ciuding a ~ncreases, wbstitutions, replxtments, ~tions and atcessio~s thereto and in tha (xotteds thereof (hereinafter talled "Collateral"1. Tha security :ncerest shall also secure any other i~debtedness w fiabiiity of the Maker to the Bank d~?ect o~ indirect, absolute or continpent, due or to become due, now ez- ~st~ng or hereafter arising, including all future adva~ca w loans by the Bank to the Maker. The Bank is atso givpn a lien and a security interest in all property and securities oi the Maker, endorser, wrety, guarantor or accommodation party of tAis "do[e Ihereinafter referred to as the "Obligori '1, now i~ w at any time he.wfte* com~ng into the control, custodY or pouestion ol tAe Ba~k, whether tw the ez- p~esxd purpose ot being used by the Bank as Collateral, or for any othe? purpose, and upon any balance or batances to the credit o( any accounts, includirg ~•ust and agency accounts maintained withthe Bank by any of the Obligors, and the Ubligors a4ree to detiver to the Ba~k additional Collateral or make such r~ayments in reduction of the pnncipal amount oi the loa~ as shall be satisfactory to the Bank, in tf?e eve~t the a~oremen[ianed Collateral shall decline in value ; t~ecome u~satistaCtory to the Bank. ' . Additions to, reductions or exchanges of, or wbstitutions for tl?e Collateral, payments on account ot this loan w increases of the same, or other loans made o3~~+ally or wholly upon the Collateral, may irom time to hrtx be made without aifecting the provisions of this Nota The Bankshall exercise reasonable care in ~ne custody and preservation of the Collateral to the exteni requ~red bY applicabte statute, aod shall be deemed to have exercised .easonable wre ii it takes such -~t~on for that purpose as AAake~ shal! reasonably request in writing, but ~o omission to do any act not requested by Maker shall be deemed a failure to exercise •easo~able wre, and no omiu~o~ to comply vrith a~y reqeiest of Maker shall of itselt be deemed a tailu~e to exercise reaso~able care. Bank shall ~ot be bound to cake any steps neteuary to preserve any rights in the Collateral against prior parties a~d Maker shall take all oeoessary steps for wCh purposes. The Bank or its nom~nee need npt colleCt inte?est on, or a p~incipal of, any Collaterat or give any ~otice with respect to it. The 8ank may cont;nue to hold any Collateral deposited he~euncfer after the payment of this Note, if at the time of the payment and discharqe hereoi any of tne parties liable for ihe payment hereof shall be then direttly or contingently liable to the Bank as Maker, endorser, wrety, guara~tor or aCCOmmodation party of any other note, draft, bill oi ex~a~ge, or other instrurt~ent, or otherwise, and the Be~k may thereafter exercise all rights with respect to said Collateral g~anted herein even tF?ough this Note shall have been wr~endered to the 11Raker. ?t the Bank deems itself insecure w upo~ the happening of any of the lollowing events, each of wh;ch shall mnstitu[e a default, all liabilities oi each Maker ta =.re Bank, including the entire unpaid prinCipal of this Note and actrued interest, less any unearned intetest and any interest in excett of the maximum allpwed by faw a~d any rebates reqwred by law, si~all irtunediatefy or thereafter, at the opiio~ of the 8ank, except that the occurre~ce of (c) o? (d) shall cause automat- :c acceleration; without notice w demand, becomedue and payable: (a) ~he failure of a~y pbtigor to perform any obligation, liability or daim to the Ba~k, to pay ~nterest he~eon within ~Odays atter it is due, w it there is no due date, aiter it is billed or othemise requested or demanded, ~ to pay any other liability what- saever to tht Bank whe~ due; (b) the death of any individual Qbligor, the dissolution of any partnership Obligor or the dissolution, merger or oonsolidation with- r~u~ fhe Bank's prio? written consent of any corporate OWigw; (c) the filing of a petition in ba~kruptcy or the adjudication of insolvency or bankruptcy under a~:y reorganization, arrangement, readjustment of debt, dissdution, liquidatiOn w similer proceeding under a~y Federal or state statute, by or against any Onlogor; (d) an application fw the appointment of a receiver for, or the making of a general assignment for the benetit of creditors by, any Obligor; (e) the entry o~ ~udgme~t agairut any Obliyor; If) the iswing of any ~ttathment or garnishrt~ent, or the filing of any lim, against any property of any Obligor; (g) the taking of possessio~ oi any wbstantial pa?t of the property ot any Obligor at the instance ot any yovernmental authority; (h) the determination by the Bartk that a matere- ai aclvers~dyrKp has oocurred i~ the (inancial condition o! any Ob1iQw lrom the conditior?s set fortn in the most retront financial statement ot wth Obligor he+etofore fun~ished to th~ Bank, w from the corKfition of wch Obligor as heretoforo most recently disdosed to the Bank, or that any wa.ranty, represen[ation, cert~ficate w statement of iny`Qbtigo. (wAether comained in this Note or not) Pertaining to w i~ co~nectio~ with this Note w the loan ev+denced by this Note contains an untrue sfstement ot mitereal f~aCt or omits to state rr~aterial fact netessary in order to make the statements made not misleadirg; or, !i) the assi9n- n,ent by any Maker o~ amr equity in amr oi the Collatersl without the priw writte~ conse~t of the Bank. The 6ank shall have, but shall not be timitcd to, the followi~g rights, each of which msy be ezercised st a~y time whether or not this Note is due: (i) to pted9e or traroter this Note a~d the Collaterat and the Bank sAall thereupon be reliersd of all duties and re~ponsibilities he?eurxfe~ and relieved from any and all ~rebility with iespstt to any Collatera! so pledgld pr tre~sferred, and eny p{ed9se W transferea shall to~ sll purposes stand in ihe place ot the Bank hereunde~ and have all the riyhts ot the Bank hereunder; (ii) to transier the whote or any part ot tM Collatersl into tAe name oi itself or its nominee; (iii) to vote tf?e Coltateral; (+v) to ~otify the Obligws of any Cottateral to make payment to the 8ank ot eny amoernt: due w to become dw tMreon; (v) to de~riand, we fo?, collect, or rnaice any compromise or settleme~?t it deems desirable with reference to the Collatwal; snd (vi) to take possession p control oi sny proceads ot Collate~sl. *"BANK" as used her~in aeans Turtle Reef Associates, Inc. and/or itg~#~~~.PAGE 386 NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION F65 752 Rev. 7!77 ~z~'~~-_~ '.._;e~~ ~ ~ , ~ y - - - - ~ a,, _ , . ~