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Home My WebLink About0094 ~ INSTALLMENT PROMISSORY NOTE TURTLE itEEF 1lSSOCIATES, INC.* (A) Amou~t Raceiwd s 5~_00 BANK NAME (8) Premium tor Cred~t Lif~/pisabd~tY Ins. S P. 0. 80X 61$~ ~ JENSEit 6E/ICH~ F1.. 334S7 (CI Documenury Scsmp: sJO~_ pFF~CE AD~RESS (01 Oth~r Chary~s (~t~miz~) S_~~, IEI S NOTE NO. OATED: Jd11Ua1"y/ ,30 ,~y78 . ~F~ s er~ lG) Amoum Financed ~ February 16 .19 88_ iA, e, c, o. E. Fi s 5~• DUE~ IH) Interest S • PLACE= . FLORIDA Credit Invesugat~on S~~~ IJI Othe~ S For value reCe~ved, the und~rsgned (hereinafter Wlled "Maker") jomtly and sRvenlly 1if (K) S~~ more thao oee) prom~se to pay to the order ot ths Bank, at iu oft~ce Ilsted abovs, the Totel pa~ of Payrtrents (from (Ni at right) ot ~~:l~-4{~ pollars payabie i~ _ l~` s e:r~a1 monthly installments of S 11_L , the tint ~M) FINANCE CHARGE March 16 ~ ~g 78 (H, 1, J, K, U S 31$2• ~ ~nstallment due on , and wbsequent installme~ts dus o~ (N) Tota~ o( Payrtrnts (G ~ M) S~~• ~ ihe 16 dsy of exh momh thereafter, ~o9s~ner wiin s FiNA~ BA~~ooN PAVMEN70F: ANNUAL PER~ENTAGE RATE X 5 I~E DUE -~~«~~~~«~M , 1}~~~ The Bank shaN impose a dellnquency charge against !M Maker on a~y payme~t which has become due and remains in deisult (w a period in excess ot 1O ctays in an amount equal to 5~J(~ of the amount ot the princ~pal part of the payment i~ default. In the event that the Note is not paid irt tull at maturity, all pay- men~s, whether principal, interest or otherwise, shall bear incerest at the maximum legal rete allowed u~der the laws of the State ot Florida. All payme~ts made nereundet shall be credited first to interest and then to printipal, howeve~, in the event of detault, the Bank rtwy, i~ its sole diuretion, apply any paymMt to ~nce~est, principal and/o. lawful charges then acc~ued. It is the inte~tion of the par~ies he~eto ~hat the p?ovisions herein shall no~ provide directly or indiractly for che payment of a greater rate of inte~est o~ ihe re[e~[ion oi any other charge than is allowed by law. If, tor any ~eason, interest in excess of wch legal rate or a cnarge prohibited by law shalt at anjr [irtte be pa~d, any wch extess shalt either constituts and be treated as a paY~nt on the prinCipsl w be refunded direCtly • co the Maker. The Maker may prepay the entire unpa~d balance of the loan at any time. If the loart is prepaid in full, aCcelerated of ref~nanced, the Maker shall reCCive a ~efund ot the unearned portio~ of the interest and insurance premiums computed by tAe Rule of 78's method, except that the Bank shall be entitled to retain ~ minimum intergst tharge of CREDIT LIFE AND CREDIT LIFE & OISABILITY INSURANCE ARE VOLUNTARY AND NOT REUUIRED FOR CREOIT. Suth inwrance coverage is ava~iable at the cost des~gnated below for the term of the credit: (a) S tor Credit Life Inwrance (b) S .'o~ Credit Lite d~ DisObility Inw~ante: ' Check ? Crtdit L~fe Insurante is desired on the hte of . Appl. Birthdate Box ? Gedit lite & D~sabil~ty Inwrance ~s desired o~ ~ B~rthdate ~ Credit Li(e a~d/o~ Oisabit~ty Inwrarece is not desired. oate January 30 ~ i97H S~gnaw~e ~~~'~y q ua rs ~ S~gnature `-'~L "rA e~G ~r~ Y a S As secu?iiy fo. the payment o~ the Note the Maker he~eby grants to che Bank a secu?ity interest i~ the tollowing property: ..~tl n_ ~75~ ~mdi ri ded 7 ~ ~ ~nclud~ng all increases, substitutions, replacemen[s, additions and accessions the~eto and in the p?oceeds c ereof (hereinatcer wlled "Collateral"1. This secur~[y f ~r,terest shaU also secure any other indebtedness w tiability of the Maker to tha Bank d~rect or indirect, absolute or continqent, due o~ to become due, now ex- ~s~~ng or hereafte~ arising, including all future advances or loans by the Bank to the Maker. ~ The Bank is also grveo a lien and a secunty ~nterest in all property awd securiUes of the Maker, endOrser, wrety, guarantor or accommodetion party of this Noce (hereinafter referred to as the "Obl~gors"1, now i~ or at any time hereafter coming into the control, cus[ody or posseu~on ot the Bank, whether for the ex- { p~essed purpose of being used by the Bank as Collate~al, or for any other purpou, and upon any balance or balances to the credit ot any accounts, including ~•us~ and agency accounts ma~ntained w~thihe Bank by any of the Obllgors, and the Obl~gors ag~ee to deliver to the Bank addrtional Collateral w make such ~ oavments in reduttion of the pnnupal amount oi the loan as shall be satislactory to the Bank, ~n the event the a~orementioned Col{ateral shatl decli~ i~ value ~ become unsatisfactory to the Bank_ ~ Add~uons to, reductions or exchanges of, or wbs~itutions for the Collateral, payments on account of thls loan or i~creases of the same, or other loans made o.~~ c~ally or wholly upon the Collacerel, may from time to ume be made w~thout aifecting the provisions of this Note. The Bank shall exerc~se reasonable ca~e in ~ +ne custody arxi preservation ot the Collateral to the extent requued by applicable statute, and shall be deemed to have exercised reasonable care if it takes such .;c±~on Fo. that purpose as Maker shall reasonably request in writing, but no omiss~on to do any act not requested by Mafcer shall be deemed a failure to exercise ~ ~easonable care, and ra om~ssion to comply with any request of Maker shall of itsel( be deemed a failure to exercise reasonable care. Bank shall not be bound to cake any steps necessary to preserve any nghts in the Collateral against priw parties a~d Maker shall take all necessary steps fw wch purposes. The Bank or its ~ ;:om~nee need not coUect interest on, or a principal of, any CoUateral or give any notice with respect to it. 3 ~ The Bank may continy~e to hold any Collateral deposrted hereunder after the payrnent of this Note, aT the time oi the payment and discharge hereof any of ~ che pa.ties liable for the payment he.eoi shall be then directly or contingently tiable to the Bank as Maker, er?dorser, wrety, 9uarantw or accommodation party ~ oi any other note, d~a(t, bill oi exrl?ange, or other instrument, or otherwise, and the Bank may thereafter exercise all rights with resp¢ct to said Collateral s q~anted herein even though this Note shall have been wrrendered to the Maker. ~ ? If the Bank deems itselt insecure or upon the happening oi any ot the following events, each of which shall constrtute a default, all IiabiGt~es of each Maker to ~ ?ne Bank, including the entire unpaid principal o( this Note and accrued interest, less any unear~ed interest and any interest in excess of the meximum allowed k by law and any rebates required by lavr, shall irtwned~ately or tAereatter, at the optwn ot the Bank, except that the occurrence of 1c) or (d) shall cause automat- ~ ~c ~ccelerat~on;without notice w demand, become due aod payable°la) the failure ot any Obligor to pertorm any obligation, liability or claim to the Bank, to pay ' ,nte.est hereon within 10days after it is due, or ii there is no due date, atter it is bblled w otherwise requested or demanded, or to pay any otAer liability what- - z~ever to the 8ank when due; (bl the death of any indrvidual Obligor, the dissolutio~ oi any partnership Obligor or the dissolution, merger or oonsolidauo~ with- 4 ~uc the Bank's priw written consent of any corporate Obligor; (c) the fihng of a petition in bankruptcy w the adjudicauon of insolvency w bankruptcy under any reorganization, arran9er»ent, readjustme~t of debt, dissolution, liquidation or similar proceeding under a~y Federal or state statute, by or against any ~ Ool~gpr, (d) an appficatio~ for the appointment of a reoeiver tor, w the making of a general assignme~t for the be~efit of creditws by, any Obligor, (el the entry a ot ~udgrt~ent against any Ob~igw; (f1 the ~swing ot any aaachment or garoishment, or the filing of any lien, against any prope~ty of any Ob~igor, (g) the taking of ; oossession of any substant~al part ot the property of any Oblgor at the ~nstance of a~y gover~mental authority; (h) the determination by the Bank that a materi- t al adverse change has otturred in the finantial condition of any Obligor irom the co~ditions set forth in the most retent financial statement o( suth OWigor heretofo?e lurnished_to the Bank, or irom the cOnditior? of wth Oblgor at heretotore most reCently dittlofed to the Bank, w thac any vrarra~ty, represe~tatipn, cer~~ficate or statement of any Obligor (whather contai~ed ~n tAis Noce or notl pertainirg to or in connection with this Note or the loan evidenced by this Note r con~a~ns an untrue statement oi material (act or omits to state material txt necessary in order to make the statements made not misleadirg: o~, (~1 the assign- < ment by any Maker of any equiry m a~y o( the Collateral without the prior written consent oi the Bank. ~ The Bank shatl have, but ~hall noi be Iimit~d to, the foliowing rghu, exh oi which msy be ezercised at any time whether or not this Note is due: (i) to piedge a trans(er this Not~ snd the Collaur~l and the Bank sFwtl thereupon be relieved of all duties a~d responsibilities hereunder and relieved from any and all - i,aDil~ty with respect to any Collateral so pled(}d pr trantfened, and a~y pledyee or trans(eree shatl for all purposes stand in the place ot the Bank hereurxfe~ arxf s; have all the rghts of the Bank hereunder; (ii) to transfsr the whole w any part of the Collateral i~to the name oi itseN or its nominee; (iii? to vote the Collateral; ~ {~vl to notify the Oblgws ot any Colbteral to mske pa~rment to She Bank of any amouna due w to beC~ne due thereon; (v) to demand, we 1a, collect, o~ € make a~y compromise or setdement it deems desi.able with refere~ce to the Collateral; and (vi) to Wke possession w control of any procetds of Collateral. ¢ *"BlWK" as used herei~ ~eans Turtie R~et Associates, Iac. and/orp~~s . NOTICE: SEE OTHER SIDE fOR IMPORTANT INFORMATION BO~K ~AC~ ~ F 65 752 Rev. 7/7~ ~ ~ . _ . ax.-~ . _ . ~ - - . . - - - ~ - . _ ~;ii~