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Home My WebLink About0079 INSTALLMENT PROMISSORY NOTE .N~~ ~S~iA~c * IAl Amount Rate~v~d S ~16•~ i~ BANK NAM (B) l t~%~pisebilityr~t s ~ P. 0. BOX 618, JENSEN 8EJ1CH, f1.. 33457 ~c~ oa„~,.~~a.,, s~~~: s ~e OFFICE A~ORESS (0) Oth~+ Chuga (item~ze) _ ~ February? 6. 1e~ s non~ NOTE NO. OATEO: . 19 IF) S ~k (G? Amount Financed ~16.~ DUE- F~~~ 21s , 19 (A, B, C. U, E. F1 S (H) Interest S ~~1~~ PLACE' . FIORIDA (1) Gedit I~vest~9atio~ S ~ IJI Other S For value rece~ved, the undersigned (hereinsfter called "Maker") jo~nUy and severally (it (K) S more than a?el promise to pay ~o he ordtr f tAe Bank, at its otlicy listed above, the Total ~ of Payments (trom (N) at right) of 13 Opllsrs psyable in 1~ S equal montAly ~nstallments o( S • . ~he t~nt ~M~ FINANCE CHARGE (H, I, J: K, l) S ~r.stallment due on , 19_, and subsaquent installments due on ~N) Total of Payments (G + M) S~~~ the 21 day of eath month thertaiter, toyether with a FIN/?l. BA~~OON PE?YMENT OF: ANNUAL PERCENTAGE RATE ~m % S ~E DUE •~~~~~w~w~~ , lg~~~- . The Bank shall impose a delinquency charge against the Maker on any payment which has become due a~d remains in default for a period in ~xuss oi 10 ciays ~n an amount equal to 5'16 of the amount ot the principal par! of the payment in detault. In the event that the Note is ~ot paid in tull at maturity, all psy men~s, whether principal, interest w otherwise, shall bear incerest at tAe maximum legal rate allowed under the laws of tAe State of Florida. A11 psyments made nereunder shall be credited tirst to interest and chen to printipal, however, in the event of'deteult, the Bank may, in its sole diuretion, apply any payment to mierest, principal and/or lawful charges then accrued. It is tbe ~ntention ot the parties hereto that ~he provisions herein shall not provide directly w indirectly for che payment of a greater rate of interest w the retention of any other charge than is allowed by law. I(, tor sny reason, i~terest i~ excess of wch legat ~ate or a charge prohibited by law thall at any time be paid, any suth excess shall either constitute and be treated as a payment on the principal w be refunded directly ~o the Maker. The Maker r?wy p~epay the ent~re unpaid balante oi the loan at any time. If the loan is prepaid i~ tull, attelerated or refinanteti, the Maker shall receive a ~e~und oi the unearned portion of the interest and inwrance prerreiums computed by the Rule of 78"s method, except that the Bank shall be entitled to retain a m~n~mum interest charge of ~.00. CREDIT LIFE AND CREOIT LIFE d~ UISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREDIT. Such insurancetoverage is ava~iable at the cost des~gnated below (or the term of the aedrt: (a) S. tor Credit Life Inwrance (b1 S for Credit Li(e di Disability Insurance: Cneck ? Credit lite Inwrance is desired on ~he lite of Apo~. Birthdate Box ? C~edit L~te ~ Oisabihty Insurance is desired on - - ~ irthdate ~ Credit L~fe and/or Disability lowrante is ~ot desired ; February 6, 1978 ti .~~~.-c-- . ~ / Date Segnat e ' `L - T'~!~ RO~~ 911~ . . Signature ~ As security iw the payment oi the Note the Make. hereby gra~ts to the Bank ~ tn~c~es propercy: ~ ~ ieterpst ie Turtl~ Raef Ce~d_ I~ I~mrded na O.R_ Bon~ 263~ Paae 2002... Un1t iieelcs 28. 29 in Cond. D-17, A~t.~lo. D-I7 as~escribed tn~a~a ¦nrr~~~_ :nclud~ng all intreases, substitutions, replacements, additions end atcestions thereto arxl in Me proteeds thereot (hereinatter talled "Collateral"1. This SECUrity ~r,cerest shall also secure any other ~ndebtedneu w liability of tt~e Ntaka to the Bank direct or indirect, absolute or contingent, due w to become due, now ez- ~st~ng or hereafter arising, including a11 tuture advances w loans by the Bank to the Maker. ' The Bank is alto given a 6en a~d a seturity mterest m alI property and securities ot the Maker, endorser, wrety, guarantor or accommodation party of thit ~ No~e (bereinafter referred to as che "Obligori '1, npw in or at anY bme hereaiter coming mto the rnntrpl, cuseody or possess~on of the Bank, whether for the ex- ~ ~~essed purpose ot be~ng used by the Bank as Collaterat, or for any other purpote, and upon any balance or balances to the credrt of any accounts, includ~ng ~~~,s~ and agency xcounts ma~ntai+?ed vntAthe Bank by any o( the Obligors, and the Obtigors agree to deliver to the Bank add~t~onal Coltateral or make wch ~ ;~ayments in reduction of the principal amcunt of the loan as shall be setisfactory to the Bank, in the event the aforementior?ed Collateral shall decline in value 't u~ become unsatisfactory to the Bank. R ~ Additions to, reduct~ons or exchanges of, or subst~tutions for the Collateral, payments on account of this loan w ~ncreases of the same, or ather loans made € o~~~ ~aily or whotly upo~ the Collateral, may from time to time be made w~thout affectinq the provisions ot this Note. The Bank shall exerc~se reasonable care m _ ~r.e custody and preservation of the Collateral to the extent requ~red by applicable statute, and shall be deemed to have exercised reaso~able care if it takes such ~ 3cc~on iw that purpose as Maker sAatl reasonably reQuest in viniting, but no omission to do a~y act ~ot requested by Maker shall be deemed a failure to exercise ~ • easonable care, and no omiuion to comply with any request of Maker shall of ~tself be deemed a failure to exercise reaso~able care. Bank shatl not be bound to r~ke any steps necessary to preserve a~y +ights m the Collateral against priw parties ar?d Maker shall take all necessary steps fw such purpos*_:. The Bank or its n~m:nee need not collect inte~est on, o. a principal of, a~y Collateral or give any notice with respect to it. ~ ~ The Bank may continue to hotd any Collaterat deposited he.eunder aiter the payrr~ent of this Note, ii at tAe time of the payment and discharge hereot any oi ihe parties liable (or the payment hereof shall be then directly or contingently liabte to the Bank as Maker, endorser, w~ety, guara~tor or xcommodation party ~ of any other rwte, d.aft, bill oi exchange, o~ other instrument, or otherwise, and the Bank may thereafter exercise a!1 rights w~ih respect to said Collateral ~ a~an[ed herein eve~ though this Note sball have bee~ surrendered to the Make~. ~ If the Bank deerta itself insecure or upon the happe~ing oi any of the tollowing events, each of which shall constitute a default, all liabilities ot each Maker to ~ ; ne Bank, including the entire unpaid principal o( this Note and accrued i~terest, less any unearned interest and any interest in exceu of the max~mum allowed p i~y law and any rebates required by law, shall inxnediatNy or thereafter, ,;t the option of the Bank, except tnat the occurrence ot (c) or (d) shall cause automat- accel_wation;without n~tice or demand, becomedue and payable: (a) the failure of any Obligor to perform any obligation, liabil~ry w cla+m to the Bank, to pay ~^[e~est hereon within 10days after it is due, or ii there is no due date, atter it is blled or otherwise requested or demarxfed, or to pay any other liability what- soever to the Bank whe~ due; Ib1 the death of any individua! Obligor, the dissolution ot any pertrrership Obligor or the dissolution, merger or opnsplidation with- 3 out the Ba~k's priw wrinen consent oi any corporate Obli9w; ic) the filing o~ a petition in bankruptcy or the adjudication of insolvency or bankruptcy under $ ~ny rewganization, arrangement, readjustment o( debt, diuolution, liquidation or similar proceeding under any Federal w state statute, by or against any Obi~gor; (d) an applitation tor tl?e appointment of a receiver tor, or the making of a general assignment for tne benefit of creditors by, any Oblgor; (e) the e~try i of ~udgment against any Obligor; the iswing of any atischment w garnishment, w the tiling of any lien, a9ainst any property of any Obli9or, (g1 the taking oi possession of any wbstanual part of the property ot any Obligor at the iratance of any governmental authority; (h) the determination by the Bank that a materi- i ai adverse cAange has occurred in [he financiat co~dition o( any Obligcu from the conditiorn set forth in the mott recent fina~c~al seatement of wch Obligor ; " r.e•e[otore fur~ished co the Bank, or irom the conditio~ oi wch Obligor as fieretofore most recently disdosed to the Bank, or that any rrarranty, representation, ~ ce~t~ficate w statement o( any Obligor (whether contained in this Note or not) pertaining to or in connection wi[h this Note or the loan evidenced by this Note ~ contairu an untrue statement ot material fact Or omits to sWte matenal fact neCeisary in order to rrWke the stetements made not mnleadi ng: or, (il the auign- ~ rr,ent by any Maker ot any equity ~n any of the Collsteral without the prior written consent oi the Bank. ~ The Bank shall have, but shall not be limi[ed to, the (ollowing rights, exh ef wfiich may be exe?cised at any time whethe? w not fhis Note is due: li) to ~ piedge a transfer this Note and the Collateral and the 8ank shall therevpon be relievecf ot all duties and responsibilities hereunder and relieved from any a~d all i~ablhty with respect to aoy Collateral w pledged w transfe~red, and any pledgee or transferee shsll for all purposes stand in the place o( the Bank hereunder an~ have at1 the rights of tbe Bank h~r~under; (ii) to tral~l~? fhe whok or aoy part of tFie Collateral into tMe rwrt~e of itself or its nominee; (iii) to vote. the Collate.al: ~ ~~v) [o ratify the Obligors oi any ~ollateral to malt~ p~yw~ent tn [he Ba~k of any amounts due or to become due thereon; (vl to demand, we fw, cotlect, or ~ n,ake any compromise or settlement it deems desireWe with reference to the Collateral; and (vi) to take possession or control of any procesds of Collateral. ~ ~"BANK" u used tke~ein ~eans Turtle Reet Associates, Inc. aad/o~ i~ s. F R ~ NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION 80GK~~ PAt';E ~ B5 752 ev. 7/7 - c: . . :g ~ . . . . . , _ . . _ ~ _ - . . . . . . . ~