The URL can be used to link to this page

Home My WebLink About0102 INSTALLMENT PROMISSORY NOTE TIRCT~E REEF ASSOCIATES~ IMC. • (A) Amounl Recs~v~d = 5~922.00 BANK NAME . (6~ F?emium lor Credit AQ~ Lit~/Oisabil~ty Ins. S r•~• ~x 61d~ ~~N d~H~ 3~57 IC) Docume~tary Stamps S OFFICE ADORE55 (O) Othtr Charges (itemize) S ~~e IEI S NOTE NO. DATED: JanUar,y 3O , 19~. (F) s ouE: February 16 19` (G) Amoum Financed ~j,4i2.00 SH (A, 8, C, E, FI S (H) Inttr~st S PLACE: , FLORIDA Cradit Invesugation S IJI O~her S For value rece~ved, the unders~9ned (1?ereinafter called "Maker") lointly and severally (if (K) s ~}~e more than one) Prom~se co pay to ~he q~~r pt9tj?e pk, st its otf~ce Iisted above, th iT~toial oi Psyments Itrom IN) at r~ghtl ot zq~3 l• ~ Oollars payable i~ 0 fll S equal monthly ~nstailments of S • , the tirst ~M~ FINANCE CHARGE 3.~~9.2~ (H, 1, J, K, L) S ~nstall~nt due on March , 19_, and wbsequent installments due o~ (N) Totat of Payments (G + M) S • lb ~Y of each month thereatter, ~oyeener w~in a FiNe?~ Bn~~oON PAVMEN7 oF: ANNUAL PERCENTAGE RATE IO.WI y~ a ~E DUE ~~~~~~.MM•~~~~~M~~~~~N The Bank shall impose a del~nquency charge against the Make? on any payment which has become due and rema~rss in default fw a period in excess oi 10 days in an amount equal to 5~6 of the amount ot the principat part of the payment default. In the event that the No~e is not paid in tull at maturity, all pay- ments, whsther principal, incerest w otherwise, sha11 bear interest at the maximum legal race allowed under the laws of the Siate of Florida. All payments msde hereunder shalt be credited first to inte~est and tAe~ to priMipsl, however, in the event oi detault, the 88nk mey, in its sole d~uretion, epply any paymMt to mte~est, prinupal and/or iawiul charges then sccrued. It is the intention oi the perties hereto that the prOVis~o~s herein shall not prov~de dirlttly or indireCtly 1or tbe payment of a greacer rate of interest o~ the retent~en of any other charge than is allowed by law. If, lo. any reason, interest in exceu of wch legal rate or a charge prohibited by taw shall at any time be paid, any wch excess shall either constitute and be treated as a payment on tAe principal or be refunded directly to the Msker. Thc Maker may prepay the ent~re unpa~d balance of the loan at anY time. 11 ihe loan is prepaid ~n full, accele~ated o~ refinanced, tAe Maker shall receive a ~efund of the unearned port~on o1 the ~nte.est ar?d ~nsurance premiums computed by ihe Rule of 78's method, except that the Bank shall be entitled to retain a minimum ieterest charge o{ ~J.~. CREOIT LIFE AND CREDIT LIFE d~ DISABILITY INSURANCE ARE VOIUNTARY AND NOT REQUIREO FOR CREDIT. Such ~nwrance coverege is avadable at the cost designated below tor the term ot the credit: (a) S for Credit Life Inwrance tb) S for Credit L~1e &~Disabihty lnwrance= Check ~ Credit Lite Inwrance is desired ort the li(e of q~~ Birthdate Box ? Credit L~fe di D~sab~hty Insurance is desired on 8~rthdate C1 Crldit ~~~e and/Or DisabiGiy Insurante ii not desired. v oac~: January 30~ 1978 S~gnawre ~ E TdS , Signawre ' As security fw the ayme t of the N ce the Maker hereby grants to the n a secunty ~nterest in the tollowing pro rty: UT1 M i nteres t 1 n~urt~ e Ree~ Co:3d. I rE~:ordeJ i n d. R. Rook 263 e 200~. . Urii t Neeks 46 and 47 1 n . , . . as c n sa wo gage. including all increases, wbstitutions, replacements, additions and access~ons thereto and in the proceeds thereof Ihere~nafter catled °Collateral"l. This security mterest shall also secure any other indebtedness or liability of the Maker to the Bank direct or indirect, abtolute or contingent, due or to become due, ~ow ex- isting or hereatter arising, including.all ~uture advances w loans by the Bank to the Maker. The Bank is also given a I~en and a security mterest ~n all property and secunties of the Maker, endorser, surety, guarantor or accommodation party of this Note (hereinafter refe~red to as the "~blrgors"l, now in or at any ume hereafter comirg into the control, custody or possession of the Bank, whether for the ex- ( p.essed purpose oi being used by the Bank as Coltateral, or for any other purpose, and upo~ any balance or balances to the credit of any accounts, ~ncluding ~ trust and agenty xcounts mainiained w~ththe Bank by any oi the Obligors, and the Obligors agree to deliver [o the Bank additeonal Collateral or make such payments in reduction ot the D~~~~Pe~ amount o~ the loan as shall be satis(actory to the Bank, in the event the a~oreme~t~oned Coltateral shall decli~e in value • or become unsatistactory to the Bank. Add~hons to, reductions or exchanges ot, or subst~tuuons ~or the Cotlateral, payments on account oi th~s Ioan w~ncreases of the same, or other loa~s made part~ally o? wholly upon the Colla[e.al, may from time to time be made w~thout atfecting the provisions oi this Note. The Bank shall exe.uze reasonable wre in che custody and preseryation of the Collateral to the extent required by applicable statute, and shall be deemed to have ezerused reasonable care if it takes such act~on for that purpose as Maker shall reasonably request ~n wriung, but no omission to do any xt not requested by Maker shall be deemed a failure to txercise reasonable care, and no omiuion to comply with any request oi Maker shall ot itseH be deemed a failure to exercise reazonable care. Bank sha~l not be bound to take any steps necessary to preserve any nghts ~n the Collateral against prior parues and Maker shall take afl necessary steps iw such purposes. The Bank or its nominee neecf r?ot collett interest on, or a pr~ntipal o(, any Co~lateral or give any notice with res{xct to it. The Bank may continue to hold a~y Collateraf deposited Aereunder after the payrt~ent of this Note, it at the time of the payment and discharge hereof any ot the parties liabte for the payme~t hereot shall be then directly or contirgently liable to the Bank as Maker, endorser, su~ety, guara~tw or accommodation pa~ty of any otAe? note, d:aft, bill of excha~ge, or other instrument, or othe.wise, and the Bank may thereatter exe*c~se all rights with respect to said Collate~al granted herein eve~ though this Note shall have been su«endered to the Make~. If the Bank deems itself irtsecure or upon the happening ot any of the follow~ng events, each o1 which shall constitute a default, all liabilities of each Maker to the Bank, i~cl~ding the ent~re unpaid principal of this Note and accrued interest, less any unear~ed interest and any ~nterest in excett oi the maximum allowed by law and any rebates required by law, shall imrt~ediately or thereaiter, at the option of the Bank, except that the occurrence of (c) or (d) shall cause automat- ~c xceleration; wrthout notice or demand, becomedue and payable: (a) the tailure ot any Obligor to periorm any oW ~gation, liability or claim to the Bank, to pay ~nterest hereon within lOdays atter it is due, or if there is no due dace, after it ii billed w otherwise requested or demanded,.or to pay any other liability what- soever to the Ba~k when due; (b1 the death of any i~div~dual Obligor, the d~uolution of a~y pa~tnership OMigor or the disaolution, merger or oonso{idation with- out the Bank's priw mitten consent of any corporate Obligor; (c) the filirg oi a petition in bankruptcy or the adjudication of insolve~cy w bankruptcy under any reorganization, arra~gement, readjustment of debt, dissdution, liquidation w similar proceeding under a~y Federal or state statute, by or against any Obl~gor; !d) an application to~ the appointment of a receiver for, or the rt?aking of a general auignment tor the benefit of c~editors by, any Obligor; (el the entry oi judgment against any Obligo?; ('.1 the iswin9 of any attachment or garnishme~t, or the filing o~ any lien, against arey property oi any Obligor; (g) the takirg of possession of any wbstanual part of the property o~ any Obligor at the ir?stance ol any governmental authwity; (h) the determ~nation by the Bank that a materi- al advene change has occurred in the financial co~dition ot any Oblgw from the conditions set forth in the most recent tina~ual statement o( wch Obligor hereto(ore lurnished to the Bank, or from the cor?dition of wch Obligor as heretotore most recently disclosed to the Bank, o? that any warranty, representation, certiifcate o? statement ot any Oblgor (whether contained in this Note w not) pertaining to or in connectan with this Note or the loan evidenced by this Note contairu an untrue statement of mate~~al fact or omits to state material fact neceuary in order to make the statements made not misleading; or, (i) the ass~g~- ' ment dy any Maker oi amr equity in any of the Collateral without the prior writte~ consent of the Bank. The Bank shall have, but sha~l not be limited to, the tdlowing rights, each of which may be ezercised at any time vrhether or not this Note is due: (i) to pledgs a transfer this Note and the Co)Iatfral and the Bank shatl thereupon be relieved ot atl duties and responsibilities hereu~der and relieved from any and all IiaDility witF~ respect to any Collateral fo Ol~d or transfelred, snd any pledgee oi transteree shall for all purposes stand in the place of the Bank hereunder and have alt ths rights of the Bank hereund~r; l~i) to transfer tf~~ whole.or any part oi the Collateral into the name oi ~tulf or +ts nominee; (iii) to vote the Collateral; liv) to notify the Obligors oi any Collateral to make payment to the Bank ot a~y amounts due or to become due ehereon; (v) to demand, we1w, collect, o~ make any compromise p settlement it deems desirable with reference to the Collateral; and (vi) to take possession or control oi any proceeds of Coltateral. '"SA!!1C" u used herein veans Turtle Reef llssociates, Inc. and/or tts d~s NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION „ ~ FBS ,52 Reo. 80uK ~ PAGE ~,Q2 ~ . _ : _ _ . - _ . . ,;u:,~ - - - = ~