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Home My WebLink About0135 ~ • INSTALIMENT PROMISSORY NOTE C AT~ j~ # lA) Amount R~ce~wd S,~.Qa_ BANK NAME ~ (B) Pr~mium lor Credit Lif~/pi~ability Ins. S Aa~ P. 0. 84X 618. JENSEN 6E11CN, FL. 33457 ~c? oa~m.~~..Y sta~ s__ ~ OFFICE AODRE55 f01 Oth~r Chary~s I~t~m~:d S s~ November 19 ~Ei s ~ NOTE NO. OATE~: . 19~. (F) S A~~ (G) Amount Firwnted OUE: ~C@Illb@1" 1 . ~g~, IA, B, C, O, E, FI S ~b~-~ ~H~ ~~a~~st s a1~1_2A PIACE: . FIORiDA (1) Gsdit Invesugauon = Om! (J) Othtr = For value rete~ved, the und~rsigned (hereinafter pll~d "Maker") jointty snd swerally (if (K) S ~ mwe tha~ ont) promise to pay to th!4 ord~r of 1the Bsnk, at its oltice listed above, the Totsl of Payments (from (N) at right) of +11 sl~a•~ Do11s~s paysble ia~._. S • IM? FINANCE CHARGE 41OI ZO equsl mo~thly installmen~an s , tM (irst • 1H, 1, J, K, L) S installme~t due on , 19_, and wbsequsnt installmenes due on 'A. ~,w_ (N) Tolsl o( Paymsnts IG + M) y~7~y~~`Y, tne 1Stdsy pi each month th~rea(te~, ~o9einw w+cn s FiN1?L BA~~oonl PAVMEN7 OF: ANNUAL PERCENTAGE RATE ~„Q~% S ~ OUE ~~'NlNN~~~~~~~~N~~ ~ ~9~,T The Bank shall impose a delinquency charge against the Make. o~ any payment whicli has becortie due and remains in detault to~ a period in ezcass of 10 days in an smai~t equal to 5°1~i of the amount of the p~incipat pe~t oi the psyment in deisult. In the event that the Note is not p~id in full at maturity, alt pay ments, whethe~ principal, interest or o•herwise, shall bear inte~est at the maximum legal rate aliowed uoder the Isws of the State of Florida. All payments made hereunder shall be credited tirst to in• erest and then to pri~cipsl, however, in the event of default; tF~e Bank may, in its sole discretion, apply any payment to ~nterest, principal and/w lawlul chan es the~ acc~ued. It is the intentio~ of the parties hereto that the provisions herein shall not provide directly or indirectly for the payment of a greater rate of ~nterest or the retentio~ O( a~y other tharge than is allowed by Isw. If, for any reason, interest in excess of wch legal rate or a charge prohibited by law shsll at any time be paid, any ~uch ezcess shall either constitute and be treated as a payment on the principal or be refunded direcdy to the Msker. The Maker may prepay ihe entire unpaid balance of che toan a[ any time. It the loan is prepaid in full, accelerated o? refinanced, the Maker shall receive a retund ot the unearned portion ot the interest and insurance premiums computed by the Rule of 78's method, except that the 6ank shall be ent~tled to retain a m~nimum interest tharge of CREOIT IIFE AND CREUIT IIFE d~ OISABIItTY INSURANCE ARE VOLUNTARY AND NOT REQUIREO FOR CREDIT. Such ~nsurance covera9e is available at tha cost designated below for the term of the credit: (a) S for Credit Lite Inw?ance (b) S ~or Credit life & Disebility Insurante: . ChKk ~ Credit Lite Insurante is desired on the life of Appl, Birthdate Box ? Credit Life & Disability Insurance is desired on Birthdate LO Credit Life and/or Oisability Inwrance is not desired. , oa~e: NOVembel" 19 , 1977 S~gnacure ~ ' Debra Sue K1ng S~gnatu?e As security fw the payment oi the Note the Mske~ hereby grants to tAe Bank a secuiity interest in the following property: an e~l~~ Il~~ V~d!!~ 0 and I1 ie Caed D-7, Ant_ Mn_ D-T as d~scslbed io said ~artaag~ ~nclud~rg ali fncreases, wbsti[utions, replacements, add~tior?s a~d xuss~ons thereto and in the proceeds thereof (hereinafter called "Collateral"1. This security ~nterest shall also secure any other indebtedneu or liability of the Maker to the Bank di.ect or indirect, absolute or con[i~gent, due w to become due, now ez- ~sung or hereatte~ ar~sing, inctuding all future advances or foans by the Bank to the Maker. The Bank is also given a I~en and a security ~nterest ~n all prope.ty and secu~ities of the Maker, endorser, wretw, guarantor or accommodatio~ party of this Note (he~dnalter referred to as the "Obligors"'1, ~ow in or at any time hereafter coming into the control, custody or possess~on oi the Bank, whether for the ez- pressed purpnse of be~r?g used by the Bank as Collaterat, w for anY other pu~pose, and upon a~y balance or balances to the credit ot any accounts, including crust and agency accounts mai~ta~~d vr~ththe Bank by any ot the Obligors, and the Oblgors agree to deliver to the Bank additional Collateral or make such payments in reduction of the p~~ncipal amount o~ the loan as shall be sat~sl~tory to the Bank, ~n the event the alorementioned Collateral shall decline in value o. become unsat~slactory to the Bank. Addit~ons to, reductions o~ exchanges oi, er substitutions for the Collateral, payments on account of this loan or increases ot the same, or other loans made partially w wholly upon the Collateral, may from time to time be made without aifecting the provis~ons of this Note. The Bankshall exerc~se reasonable care in the custody and preservation ot the Collateral to the extent required by applicable statute, and shall be deemed to have exercised reasonable care if it takes such action tw that purpose as MakerzfiattTearo~abty request in wnung, but o0 om~ssion to do any act not requested by Maker shall be deemed a faiture to exercise reasonable care, arxl no omission to comply with amr request of Maker shall of itself be deemed a failure to exercise reasonabte care. Bank shall not be bound to take any steps necessary to preserve any r~ghts in the Collateral against pnor part~es and Maker shall take all necessary steps tor wch purposes_ The Bank or its nominee need ~ot collect interest on, or a principal of, any Collateral or give any notice with respect to it. - The Bank may continue to hold any Collateral deposited he~eunder after the payrtxnt oi this Note, if at the time oi the payment and discharge hereo( any oi [he par[ies liable ta. the payment hereof shall be then di.ectly or contirgently Iiable to the Bank as Make?, endorser, wrety, guarantor or aocommodation party of any other note, draft, bill oi exchange, w other instrument, or otherwise, and the Bank may thereafter exerc~se all rghts w~th respect to said Collateral 9ranted herein even though this Note shall have been wrrendered to the Nlaker. 1( the Bank deems itseli insecure w upo~ the happe~ing o( any of the following events, each of which shall constitute a detault, alt liabilit~es of each Maker to the Bank, including the entire unpaid principal ot this Note and accrued interest, less any unearned interest and any interest in excess of the maximum allowed by law and any rebates requ~red by Iaw, shall imrt~ediately o~ thereafte?, at the option ot the Bank, except that the occurrence ot k) o~ (d) shall cause sutomat- ic accelera[ion; without notice or demand, becwrnedue and paysbte: (a) the ~ailure of any Obligor to pe~iorm a~y obligation, liability or claim to the Bank, to psy in[erest hereon witAin lOdays aiter it is due, or it there is no due da[e, after rt is billed or otherwise requested or demsnded, or to pay any othe~ liability what- soever to the Bank whe~ due; Ib) the deatA ot any individusl Obligor, the dissolutio~ of any partnership OW igor or the diuolution, merger or tonsolidstion with- out the Bank's prior written ca~sent of amr corporate Obligor; (cI the filing of a petition in bankruptcy or the adjudication of i~solvency w bankruptcy under any rewganization, ar~angement, readjustment of debt, dissolution, liquidauon or similar proceeding under any Federal or state statute, by or against any Obligor; (d) an application fo? the appointment of a reoeiver tor, or the making oi a general astignment tor the benefit of creditws by, any Ot~gor; (e) tf?e entry of judgrnent against~any Obligor; (ft tF?e iswing of any attachment or garnishment, or the filing of arry lien, ayainst any property of a~y Obl~gor; (g) the taking of poueasion oi any wbsta~tia~ part of ihe property ot any Obli9w at the instance of any governmental authority; (h) the dete.mination by the Bank that a materi- a1 adverse thange has otcurred in the financiat condition oi eny Obliqor (rom the conditiorK set fprth in the most recent financiat statement oi wch Obligor heretofore fur~ished to the Bank, or (rom the condit~on of wch Obligo. ss heretotwe most reeently disclosed to th. Bank, or that any warranty, ~epresentation, certiticate w statement of any Obligcx (whet~er contained in tAis Note o. noti pertainirg to w in con~ection with this Note w the Ioan evidenced by this Note ` concairK a~ untrue ststement oi material fact w omits to state material fatt netessary in wdRr to make the statements made not misleading: w, (i) the auigt?- ment by any Maker of any equity ~n any oi the Collsteral without [he prior written consent o1 the Bank. The Bank shall have, but shall opt be limited to, ~ bNowing ri~?ts, esch of wfiich may be exercised at any time wF?ether or not this Note is due: (i) to pledge or transfer this Note and the Collstersl and th~ Bank ~hsll thsreupon be relimred oi all duties and responsibiticies hereunder and rel~eved irom any and all liabitity with respect to any Collatersl so pledgsd o~ « ans(erred, snd any plecfpee or transferee shall tor a11 purposes stand in the ptace ot the Bank hereunder and have all the rghts of the Bank hereunder; (ii) to trans~~r the whole or any part o1 the Collateral into the narne of itsNf or its nominee; Iiii) to votQ the Collateral; • (iv) to notify the Obtigors of any Collateral to make payment to the Ba~k o( any amounts due w to become due thereo~; (v) to demand, we iw, cdlact, a~ make any compromise or settleme~t it deems desirable with retrrence to the Collateral; snd (vi) to take posseuion o~ control of sny proceeds of Collatera~. *"BANK" as used herein means Turtle Reef Associates, Inc.~and/or its assigns. NOTICE: SEE OTHER S10E FOR IMPpRTANT INFORMATION Oa R~Q~ r ~ FB5 752 Rev. 7/77 p~„K O ~a~E ~~5 - - - - - ~ ~ ~r-.1...~; . - . _ . . - . _ . . . _ r~k.~v~t~