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Home My WebLink About0110 INSTALLMENT PROMISSORY NOTE . n~nE ~F ~~c~•*~T~,~ INC * (A1 Amount Rece~wd S 6102•~ fS~aLwae~¦ BANK NAME (8) Pr~mium fo~ Cred~t n«~ ur•~a~b~rN i~~. s P. O. 80X 618 ~ JEN.SEN BEIICH ~ FL. 33457 ~c~ ~xum~ntsry Stamps ' s~ OFFICE ADDRE55 (0) Other Cha~~et (itemii~) S~ January 31 78 ~E~ s q~ NOTE NO. OATEO~ , 19_. (p~ s nai~ (G) Amount Fina~cetl 6102•~ ouE: February 16 ,19 88. ~a, s, c, n. E. F~ s_, ~H~ ~~~.~Kt s • PLACE: , FLORIpA (1) Credit Invesugauon s npM (Jl Otl?er S A~ For vatue rece~vad, tAe u~ders~g~ed (Mreinafte~ calted "Makei') jo~ntly and severaNy (if (K) s n~ r,ore tha~ on~) promise to pay to tha o?der of the 6ank, st its otl~ce listed abow, the Toal o~ Paymtntf (from (Nl at riQht) Of3967b.~ Oolia+s payable in ,~Q,,.,. S~a~ fM) FINANCE CHARGE p/~ ec~ual mpnthly initellrt~ents of S , the tirtt 3~4. W (H, 1, J, K, L) S ~ns~at~m~nt due on Marcrl 16 , 19~.., and wbsequent installments due on (Nl Total of Payme~ts IG + M) S ~ che iGay of each month theresfte~, toyetne. w~th a FINA~ BAL~OON PAYMENT OF: ANNUAL PERCENTAGE RATE ' X. 5 ~E • OUE ~ . 19 The 8ank sAall impose a del~nquency charge aga~nst the Maker o~ any payment which has becwne due and remaini fn de(ault for a psriod in ezcess of 10 cfays in an amount equal to 576 ot the amount oi the princ~pal part of the payment in detault. In the event tAa~ the Note is not paid in tull at maturity, af) pay- ments, whetha principal, interest or otherwise, shall besr mterest at the maximum legal rate allowed under tAe laws oi tAe State of Florida. All payments made he~eur?d!~ shall be tredited first to i~terest and thM to printipal, however, in the event ot default, th! Bank rtWy, i~ its sde diuretion, appty e~y payment to ~ nterest, printipal and/a' lawiul charges tAen aCtrued. It is the +ntention oi the pa~ties hereto that the p?ovisions herein s1w11 nOt provide directly Or indirettly . to, the payment ot a 9reater rate of i~terest or the retention of any other charge ihan is allowed by law. If, tor any ~eason, interest in exceu of wch Iegs1 rate or c charge proh~b~ted by law shall at any time be paid, any wch exceu sAall either constitute and be treated as a payment on the p~incipal or be re(ur~ded d+rectly ~ cn the Maker. The Maker may prepay the ent~re u~paid tsalance ot the loan at any time. Ii the loa~ is prepaid in Iutl, accelerated or reii~anced, the Maker shall recerve a ~e~und of the unearoed portion o1 the inte~est and inwrance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain a m~nirtwm interest charge ot ~6.00. CREDIT IIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AMO NOT REQUtRED FOR CREDlT. Such ~nsurance coverage is available ai tAe cost designated below fo~ the term of the credit: (a) S ~or Gedrt Lite Insurance (b) S for Credit Life & Disability l~surante: Check ? Credit L~le Insurartct is des;red on tbe fife oi Appl. B~rthdate Box ? Credit Li1e & ~~sabihty Insurance is des~red o0 Bv[hdate ? Credit life and/or Disability Inwrance is not des+red. - od,e: January 31. 1978 S~g~ature ~ l~~-..~~'G~f BM an L I at~as , Signature ~ As seCUrity iw the payment ot the Note the Maker hereby g~ants to the Bank a n in es ~ ir?g property: ,ncludinq a~1 increases, wbstitutions, replacemenn, add~tioos and accessions thereto and in the proceeds thereoi ihereinafter ca ed "CoUa~eral"1: This securi[y ~ncerest shall also secure any other indebtedness or liability of the Maker to t1i! Bank dir~t Or ~ndirett, absolute or con[ingent, due w to become due, now ex- ~st~ng or hereatter aris~ng, includinq all tuture adva~ces or toans by the Bank to the Maker. The Br~k is also given a I~en and a security ~nte~est ~n a!1 prope?ty a~d setur~ties of the Maker, er?dorser, surety, guarantor or aCCOmmodatio~ party of this Note (hereinafte? referred to as the "Obl~gori '1, now in or at any time hereat[er com~ng into the control, custody or possess~on of the Bank, whether for the ex- o~essed purpose of be~ng used by the Bank as Collateral, a tw any othe~ purpose, and upon any balance or bata~ces to the credit ot any accounts, including t~ust and age~cy accounts ma~nta~ned w~ththe 8ank by any of ihe Obligors, and the Obligors agree to delive. to thp Ba~k addi~~onal Collate.al or make such payments in reducuon of the p~~ncipal amount o( the loan as shall be satisfactory to the Bank, m the event the atorementioned Collaterat shall decline in value er become unsahsfaetory to the Bank. - Additio~s to, ~eductions o~ exchanges of, or wbstitutions For the Collateral, payments on account of this loa~ or rnc.eases of the same, or other loans made pa~tially or whalty upon the Collateral, may from time to time be made without affec~ing the provisions of this Note. The Ba~k shall ezerc~se reasonable care in ;he custody and prese~vation of the Collateral to the eztenl ~equ~red by applicable statute, and shall be deemed to have exercised reasonable care if it takes such act~on fa that purpose as Maker shall reasonably request in writing, but no omission co do any act not requested by Maker shall be deemed a taiture to exercise reazonable care, and no omiuion to comply with any request ot Maker shall ot itself be deemed a failu.e to exercise reasonable care. Bank sha~l not be bound to cake any steps ~ecessary to preserve any rights in the Coltateral against prior parties a~?d Make. sha~~ take all necessary steps for wch purposes. The Bank or its nominee neai not collect interest on, or a p~incipal of, any Collateral or give any notice with respect to it. The Bank may continue to hold any Collateral deposited hereunder after the payr»eru o( this Mote, if at the time of the payment and discharge hereof any of rhe parties l~able for the payrt?ent hereof shall be then directly or contingentty liable to the Bank as Maker, endorser, wrety, guarantor or accommodatio~ party of any othe? ~ote, dratt, bill of excha~ge, or other instrument, or otherwise, and tAe Bank may the~eafter exercise afl rights w~th respect to said CoHateral 9ranted herein even though this Note shall have been surretidered to ihe Nlaker. If the Bank deems itseH insecure or upon the happening of any of the followin9 events, each o( which shall const~tute a delault, all liabilities of each Maker to the Bank, including the entire unpaid principal of this Note and accrued interest, Iess any unearned interest and any interest in exceu of the mazimum allowed by law and any rebaees requi~ed by 1aw, shall irt~mediately or thereaiter, at the option of the Bank, ezcept that the occurrence of (c1 0~ (d) shall cause automat- ~c acceleration; wrthout notioe or demand, becomedue and payable: (al the failure of any Obligor to periorm any obigation, liability or daim to the Bank, to pay ~nterest hereon withirt lOdays afte~ it is due, or if there is no due date, aicer it is billed or otherwise repuested or demanded, o~ to pay any other liabiliry what- sxver to the Bank when due; (b) the death of any indnidusl Obligor, the diuolution oi any partnership Obligw or the dissolurion, rtlerger or Consplidation with- ou[ the 8ank's pnw written co~sent of any corporate Obligo?; (c) the filing of a petition in bankruptcy or the adjudication oi insotvency or bankruptcy under any reorganitafio~, arrangement, r~adjustment oi debt, dissOlution, liquidation or similar proceeding under any Fedlral or state statute, by or against a~y Oblgor; (d) an application tor the appointme~t ot a receiver for, w the making of a general assignment for the bPnefit oi creditors by, any Oblegor; (ef the e~try o( ~udgme~t agai~st any Obligor; 1~) tne iswirg oi any attachmtnt o? 9arnishment, or the filing of any lien, against any property of any Obligor; (g) the taking ot possession of any wbstantial pa~t ot the property oT any Oblga at the instance of a~y governmental authority; (hl the determinatio~ by the Bank that a materi- a1 adverse change has occurred in the financial condition oi any Oblgo. from the condicions set (wth in the most recent financ~al statement ot wch Obligor heretofore furnished to the Bank, o? trorn the condition of wch Obligor as heretofore most recently disdosed to the Bank, w that any warranty, representation, ` ceri~ficace w sta[ement of any Obligor (whether contained in this Note or not) pertaining to or in co~nection with this Note w the loan evide~ced by this Note conca~ru an u~true statemene of material fact or omits to state material tact necessary in order to make ihe statements made ~ot misleading; w, (i) the auign- ment by any Maker o! any equity in any~of fhe Co~~steral withou[ the prior written consent of the Bank. The 8ank sha11 have, but s?ia11 not be limited to, tM following .ghts, eacA of which may ba exerc~sed at any time whethe. or not this Note is due= (i) ~o piedge or transter this Note and th! Collateral ~nd the Bank shsll thereupon be relievad oi all duties and responsibilities hereunder and relieved irom any and all i~ab~lity with respect to any CollatKal~fu pledged or transferred, a~d any piedgee or iranffereeshall fo~ all purposes stand ~n the place of the Bank 1?ereunder and have all tf~e riphts of tbe Bank liereunder; (~i) to transfer tAe whok or any part ot the Co~lateral into t1~e name of itselt or its nominee; (~ii) to vote the Collateral; Irvi to notity the Obligors of any Collateral to make payment to the Bank of any amounts due or to become due thereon; (v) to demand, we_for, coNect, or make any compromise a setttement it deems desirable with reterenca to the Collateral; and (vi) to take possession or control of arty proceeds of Coliateral. *"6ANK" as used herein ieeans Turtle Reet Associates, Inc. and/o~ 1ts assigns. NOTtCE: SEE OTHER SIDE FOR IMPORTANT INFORMATION ~ FB5 752 R~v. 7/J7 BO'.rti11~V~ r+~i~~ ~10 - , . - . _ _ . _ _ ,JC.-. - - - . _ . . _ . _ ._.~.s~^~