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Home My WebLink About0488 INSTALLMENT pROMISSORY NOTE ~.E ~F ~~~~S~ I~•~ (A1 Amount Rete~ved S BANK NAME (8) Prem~um for Cred~t P. O. BOX 618, JEIISEN 8EJ1CH, FL. 33457 `'~',~n~~''~~„~ i"s. s~ . (C) Oocum~ntary Stamps S ~QQC OFFICE AOORESS (p) Oth~r Char9et (~temizl) S._Q OQCwbe~ 28 77 1e~ s none NOTE NO. DATED~ , lg_, (F~ IGI Amount Financad ~uE:_ JallWry 6 , 19 (A, B. C. U, E, FI S_~•~ IH) Int~rest ~ _ ~t`~H.~ PLACE: , FLORIOA (t) Cr~dit Invesugauon Ul Other s [!0/3L+ For valu~ racewed. the uaders~gned (Mre~nafter CaHed "AAaker") ioindy and feverally li~ (K) s IIU[i `L~ mo~e than one) promise io pay to the r ocf.~hae ~k, at its otfice I~sted above, the 1 ot Payments (from (NI st ~ight) ot ~~s~v•~ pollars payabte in ~ S~~~-° ec~ual mo~thty insta~~ments of S • , che tirst ~M? FINANCE CHARGE (H, I, J, K, L) S~-~p~---- ~nstallme~t due on , 1 „ and wbsequent ~nsialiments due on (N) Total of Payments IG + M) S~~'"«•w ~n~~ day ot each month cheresiter, u,9eihe. w+~n a FiNA~ en~~ooN PAVt4tENT OF: ANNUAL PERCENTAGE RATE • % 5 ~ OUE , 19 The 8ank sAall impose a de~inquency charge against th~ Maker on a~y payment which has becqng due and remains in de(ault for a period in excas of 70 aays in ao amouot equa! to 5% of the amount ot the principal parl of the payment in default. In the event that the Note is not paid in tull at maturity, all pey- ments, wh~the• ;~.incipal, interest or othervvise, shall besr interest at the maximum legal rate allowed u~da. the laws of the State ot Florida. All payments made hereundsr shall be credited first to interest and then to printipal, however;•in the event of detauit, the 88nk tnay, in its sole discretion, apply a~y paymMt to ~nre.est, p~incipal and/or lawlu! charges then acc~ued. It is the intention of the par~ies hereto that the provisions herein shall not provide directly or ir?directly ~or the payment of a greater rate of interest w the ~etention of a~y other cAarge than n allowed by law, 11, for any reason, interest in excess oi wch legal rate w a charge proh~pited by law shall at any ume be paid, any wch excess shafi either constitute a~d be treated as a payment on the pri~cipa! a be refunded direeily co the AAake.. The Maker may prepay the e~tire unpa~d balance of the loan at a~y time. If the loan is prepa~d ~n tull, acce~erated o~ retinanced, the Maker shall receive a ~efund of the unearned portion of the ~nterest arxl insu~ance premiums computed by the Rule oi 7$'s method, except that the Bank shall be entitled to retain a m~nirrwm interest ch2rge of ' CREDIT LIFE ANU CREDIT LiFE & DISABtLITY iNSt1RANCE ARE VOLUNTARY AND MOT REQUIRED FOR CREDIT. Such ~nsurance coverage is ava~~abte at fhe cost desegrwted below (o~ the te~m o~ the credet: la) S fw Credii Lite Inwrance (b) S f;,r Credit l.ife & Disability Inwrance: Check ? Credit Life Insurance is desired on the life of ~ ~`p~1 Birthdate Box ? Credit lrfe & Disabil~ty Insuiance is des~red on 8irthdate ~ Credit Lite andlbr Disab~hty Inwrance ~s not detired. D~ce.be~ 2s, 19n ^vate S~gnatu . tb J. ~ Siqnature As secu?ity (or the payment of tAe Note the Nlaker F?er~y yrants to the Bank t h! I p.operty: ~~.~7695 vndivi~ed ~ 2 Z~ 1~ Sned_ D__-__12~~nt l~ D~] as dncCrtSBt~_5~;~~~ ~nc~ud~ng alI ~ncreases, wbsUtut~o~s, replacements, additior?s and acCessions thereto and in the proceeds thereot (heremafter ~a11ed °Collateral"1. This security ~nterest shall also secure any o[her indebtedneu or liability of the Maker to the Bank direct or indirect, absotuee or cont~ngent, due w to become due, now ex- ~su.ig or hereatter arising, ir?cludirtg aU future advances w loans by the Bank to the Maker. The Baok is also given a I~en and a security mteresl in all property and secu?ities of the Maker, enclorser, surety, guaramor or accommodation party o( this Noce (hereinaftN re(erred to as the "Obt~gors"1, now in or at any time hereaf[er coming into the rnntrol, custody or ppsseu~on oi the Bank, whether tor the ex- p~essed purpose ot be~ng used by the 8ank as Coltateral, or to. any other purpose, and upon any balaace or tialances to the credet of any accounts, ~ncluding ~~ust and ayency xcounts ma~ntained wrth the Ba~k by any o( the Obligors, a~d the Oblgors ag.ee to deliver to the Bank addit~onal Collateral or make such paymentf in reducho~ ot the pnncepal amount of the ~oan as shall be saUSfactory to the Bank, in the event the atorementioned Collateral shall decline in value o~ beco~rie unsatisfactory to the Bank. . Add~tions to, reductions or exchanges of, or substrtutioni ~or the CoHateral, payments on account ol init Ipan or ~ncreases of the same, or other loans made part~ally or wholly upon the Collateral, may from time to time be made witAout affecting the prov~sions oi this Note. The Bank shall exerc~se reasonable care m ~r,e custody and preservation o~ the Collateral to the extent requ~red by appl~able statute, and shall be deerned to have exercised reasonable care ii it takes such ~c c~o~ fw that purpose as Maker shall reasonabty request in w~iting, bui no omission to do any act not requested by Maker shall be deemed a lailure to exercise ~easonable ca~e, and no omission to comply wrth any request oi Maker shall of itseli be deerned a failure to exeruse reasonable care Bank sball not be bound to i.~ke any stsps neceuary to p~eserve a~y r~ghts i~ the Collateral against prlor parties and Maker shall take all necessary steps for wch purposes. The Bank or its nommee need ~ot co~tect interest on, o. a principat of, any Collate?a! o~ give any notice witb .espect to it. The Bank may conhnue to hold any Collaterat deposited hereunder aiter the payrt?ent of tfiis Note, i( at the tirt~e ot the payment and ditchar9e hereof any of ihe parties liable for the payment hereot shall tx then d~rectly or contingently Iiabte to the Bank as Maker, endorser, su:ety, guara~tor or accpmmodation party of any othe. note, d~aft, b~ll of exchange, or othe~ instrument, or otherwise, and the Ba~k may thereafter ezerc~se aN rights wrth respect to said Collateral q.anted he+e+n even though this Note shall have been surrer?dered to the Maker. It the 8ank deerra itseli insecure a upon the happgniru~ of any of the foflqwrt?g events, each ot which sball constitute a detault, all Iiabiliues of ~h Maker [o ~he Bank, i~cluding the entire unpa~d pr~nc~pal of this Note and accrued interest, leu any u~earned interest a~d any interest in excess of the maximum allowed by taw and any rebates reQwred by Iaw, shall imrnediately o. thereafter, at the opt~on ot the Bank, except that the oocurrence of (c) or 1d) shal! cause automat- ~c acceleration; without notice or demand, becorriedue and payable: (a) the (ailure of any Obligor to perform ~ny obligation, liability or claim to the Bank, to pay ~ntE~est hereon wi[hin 10days afte? ft is due, or ii there K no due date, atter it is billed or otherwise requested or demanded, or to pay any other liability what- scever to the Bank whe~ due; (b) the death ot any individual Obligor, the diuotution ot any partnership OW igor or the diuolution, me.ger or Cpnsolidat~on wirh- out she Bank's priw wntten consent of any corporate Obligor; (c) the fili~g oi a petition in bankruptcy or [he adjudication ot insolvency w bankruptcy under any reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceedi~g under any Federal or state statute, by or against any Obl~gor; (d) an application for the appointment of a receiver /or, or the making o( a 9e~ra1 assignment for tAe benefit of creditors by, any Obligor; (e! the entry ef ~udgrt~ent against any Obligor; (t) the ~swing of any attaChme~t or garnishment, or the filirg of aMr lien, against any property of any Obligor; (g) the taking oi possession of any wbstant~al part of the property ot any Obligor at the instance of any governmental authwity; (h1 the determi~atiort by the Bank that a materi- ai adverse change has occur~ed in the financial cwxlition of any Obtgw (rom the conditions ser /orth in the most recertt financial statement ot wch OWi9or heretofore tur~ished to the Bank, or trom t1?e condition of wth Obligor as heretofore most recently disdosed to the Bank, or that any warranty, representation, ce~~~t~cate or statement of anv Obligor (whether contained in this Note o. not) penainirg to or io co~nection with this Note or the loan evide~ced by this Note contairu an untrue statement of mate~ial fxt w.omits to statt mater~a~ fact neCeuary in ord~r to make the statements made not misieadirg; o~, 1i) the assign- meni by any Maker ot any equity in sny of tAs Collateral without the p~ia wri[ten consent oi the Bank. The Bank shaN Aave, but shall not be limited to, the to~lowirg rghts, eaCh of which may be exerc~xd at any time whether w not this Note is due: (i) to Fied9e w transfer this Note and the Coltateral and the Bank shall thereupon be relieved of alf duties and responsibilities hereunder and re(ieved trom any and atl !~ah~liry mth respeCt to any Collateral sp pledgsd o? transferred, and any piedgeR pr trsnsferee shall tor all pu~poses stand in che plate of the Bank henuncle~ and have all the rights of the Bank hereunder; (ii? to transte~ the whole or any part of the Collate~al into the ~ame oi itself o~ its nomin¢e; (iii) ~o vote the Collate?al; !~v) to notify the Obligors of any Collaceral to make payment to the Bank of any amounts due or !o become due thereo~; (v1 to demand, we ~w, collect, or n~ake any cor?~omise a iettlement it deems desirable with reference to the Collateral; and (vi) to take possessio~ o. control of a~y proceads of Collaurat. *`BANK' as ns~d herein ~eans Turtle Reef Aasociates, Inc. ~nd/ot~ its usigas. NOTICE: SEE OTHER StOE FOR tMPORTAIVT tNFORMATION ~~R 282 +A f ~QO Fes ,sz R~v Fv: K ~ ~ V z _ : ~ . _ a - - . ~ _ ~ = ~ . ~ _