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Home My WebLink About0191 ' INSTALIMENT PROMISSORY NOTE , TURTLE RfEF ASSQrIA1~S. I!IC.' (A) Amou~t Rece~wd s 5~i24.00 BANK NAME IB) Premium lor Credit ,cue~ •~?un Lif~/pissbililv I~s. S P• 0• BOX 618~ VGRJLN ~~I~~ ~7 (C) Doturrwnury Stampt s n~ OFFICE ADORE55 IDI Other Char~s Iicemi:el S n~ ~e? s ~ NOTE NO. DATED: FebrUal",~l Z t9_78 ~F~ s p~ ouE: February 16 19 88 ~c~ iA Bu C FD, E~ s (H1 Inurest S P~ACE: . FLORIDA (l) Crsdit Invest~gation S ~~g IJI Othe? S For value rece~ved, the under:igned (hertinafter called "Maker") jointly a~d severslly (i( (K) S n~~ mors tAa~ one) promise to pay to tAe oj~pe ( he nk, at its oilice I~sted above, the Total . n~ oi Paymenn Ifrom (N) at right) of `j~~•~ Dollars paysble ~n Iro S IMI FINANCE CHARGE ~~7 ~ equal mon[hly installments of S • , the tirst ~H, 1, J, K, ll S-~E~ installmen}t~due on ~''~rch 16 , 19 78, ar+d subsequent installments due on (N) Total of Paymsnt: (G + Ml S •v~ the 16 tlMy oi each month thereatter, togeth~r with a FINAL BA~~OON PAYMENT OF: ANNUAL PERCENTAGE RATE ~(i = NOkE DUE - .1~-__ The 8ank shall impose a delinquency charge against the Maker on any paYment which Ass become due and remains in default tor a period i~ exqu ot lO days in an amount equal to 596 of the amount ot the principal part oi the paY~nt in default. In the event t1?at the Note is not paid in full at maturity, sfl pay- ments; whether principal, interest or otherwise, shall bear interest at tha maximum legal rate allowed under !he laws oi the State oi Florida. Atl payme~ts made hereunder shall be credited tirst to interest and then to principal, however, in the event oi default, the 8ank may, in its sole discretion, apply any payment to ~nterest, principal and/or lawtul charges then accrued. tt is the ~ntention of the pa~ties hereto ihat the provisions herein ihall not provide directfy or indireCtly tor the payment ot a g?eater rate of interest or the retention of any other charge thari is allowed by law. If, tor any reason, in;erest in excess of wch legal rate or a cha~ge prohibited by law shalt at any time be paid, any suth exCess shall eitAM cons[itute and be treated as e payment on [he princ~al or be refurKled directly to the Maker. - The Maker may prepay the entire unpa~d balance o( the loan at any time. If the loan ~s prepaid in full, accelerated or refinanced, the Maker shall recelve a re}und of the unear~ed port~on of the inte.est a~d inwrance premiums corr.puted by the Rule of 78's method, except that the Bank sha~~ be entitled to retain a mimrtwm inte~est charge of ~J.~. CREDIT LIFE AND CREDIT LIFE & OISABILITY INSURANCE ARE VO~UNTARY ANO NOT REQUIRED FOR.CREOtT. Such inwrancecoverage is ava~~able at the cost designated below for the te~m oi the credit: (a) S (or Credit Lite Inwrance (b) S for Gedit Lite d~ Disability Insurance: ~ Chetk ? Gedit Life Insurance is desired on the life oi qpp~. Birthdate Box ? Gedit L~te & O~sab~lity Insurance is desired on Birthdate ~ Credit Life aod/or Disa6iGty Inwrance is not desired. ~ February 2, ,1978 ' ~~J r ~ . Date: S:gnature . ~roc wet~s Signawre ~ As securi f the pa nt o the N te the Maker her gr ~ts o the 8ank a sece~ er ~n 'llowing ropert :dn ~•~/e~'~}' W~ ~n~eres~~'in fw~:~e +teef Cor*.c~. ~ecarde~! on Gook ~E3 ~aae . 1.r_ t , s an n a~ . t. f~o. D- as escr e n sa aort9aga. ~ncluding a~l increases, substitutions, ieptxements, additions ar?d ~ccessions the~eto and in the proceeds thereof (hereinafter called "Collateral"1. This security fnterest shalt also secure any other indebtedness or liability of the Maker to the Bank direc2 or indirect, absolute or co~tingent, due or to become due, now ex- ist~ng or hereafter a~ising, mtluding all future advanCes or ~oa~s by the Bank to the Maker. The Bank is also given a~~e~ and a security interest ~n all praperty and securiues of the~ Maker, endorser, surety, guarantor or accommodation party of tf~is Note (here~?witer referred to as the "Obl~gori'1, now in or at any time hereatter coming into the controt, custody or posseu~on of the Ba~k, whether for the ex- pressed purpose of being used by the Bank as Co~lateral, w for any other purpose, and upon any bala~ce or balances to the credit ot any accounts, including ~ trust and agency accounts maintamed w+ththe Bank by any of the Obligors, and the Obl~gors agree to deliver to the Bank additional Eollateral o. make such payr.ients in reduci~on oi the p*inupal amount of the loan as shall be satisfactory to the Bank, in the event the aforementioned Collateral shall decline in value or become unsatisfactory to ihe Bank. Add~uo~s to, ?eductions or exchanges of, or subst~tutions 1or the Collateral, paY~~tz on accouni o( this loan or increases of the same, or othe~ toans made partially or wholly upon the Collate?al, may irom time to time be made w~thout aftecting the provisions oi this Note. The Bankshall exeruse reasonable ca.e in the custody and prese~vation ot the Collateral to the extent required by applicab~e statute, and shall be deemed to have exercised reasonable care if it takes such act~on fo? that purpose as Maker shall reasonably request in writing, but no omiss~on to do any xt not requested by Malcer shall be deemed a failure to exercise ieasonable wre, and no omission to comply with any request o( Maker shall of itself be deemed a tailure to exerc~se reasonable care. Bank sha~l not be bound to take any steps necessary to preserve any r~ghts in the Collateral against prior parties and Maker shall take all necessary steps for wch purposes. The Bank qr its nominee need not collect interest on, or a principal of, anY Collate~al o? give any notice with respect to it. The Bank may co~tinue to hold any Collateral depos~ted hereunder after the payment ot this Note, if at the time oi the payment and discharge hereot any of the parua liable (w the pay+ne~t hereof shall be then directty or co~tirxJendy liable to the Bank as Maker, endo~ser, surety, guarantor or accommodation party of any other note, d~aft, bill of exchange, or other instrument, or otherwise, and the Bank may thereaite? exercise all .ights w~th respect to said Collate~al granted F~e.ein even though this Note shall have been surrendered to the Maker. If the Bank deems itself ~nsecure or upon the happen~ng of any of the follow~ng events, each of which shall consutute a default, all liab~l~ties oi each Maker to ~ the Bank, inctuding the entire unpaid principal of this Note and accrued interest, less any unear~ed interest and any interest in excess of the maximum allowed by law and any rebates required by law, shall imrt~ediately or thereafter, at the option of the Bank, except that the occurrence of (c) or (d) shall cause automat- ic accelerauon; without no~~ce o. demand, become due and payable: (a! ~he failure of any Obligor [o pertorm any obligation, Iiability or claim to the Bank, to pay interett hereon within lOdays after it is due, or if the~e is no due date, atter it is billgd pr otherwise requested or demanded, or to pay any otha liabiliry what- saever to the Bank when due; (b? the death of a~y indivldusl Obligor, the dissolution of any partnership OW~9w w the dissolution; mergeror oonsolidation with- out the Bartk's prior v~nitten consent o( any corporate Obligor; (c) the filing of a petition in bankruptcy w the adjudication of insolvency or ba~kruptcy under any reorganization, arrangement, readjustrtient ~f debt, dissolution, liquidatio~ or simitar proceedirg unde? any Federal or swte statute, by or a9ai~st any Obl~gor; (d) an application for the appoi~tment of a receiver (or, w the making of a general assignment for the benefit of credi[ors by, any Obtigor; (e) the entry oi ~udgment against any Obligor; (f) the iswing of any attachment or garnishment, w the filing of any lien, against any p~operty of any Obligor; (g) the taking of possession of any substantial part of the property oi any Obligor at the instance of a~y governmental authority; Ih) the determination by the Bank that a materi- al adverse thange Fws occurted in the finanC~al tondition of any Oblgor from the conditiorK set forth in the most recent tinancial statemEnt ot wch Obligor heretofore lurnished to tt?e Bank, or from the condition of wch Obligor as heretofore most recently disdosed to the Bank, or that any warranty, representation, cert~ticate or statement ot any Obligor iw1?ether co~tainad in this Note or not) pertaining to or in connection with this Note or the loan evidenced by this Note contairn an untrue statement of material fact or omits to state mate~isl fact necessary in order to make the statements made not misleading; w, (il the ass~gn- ment by any Maker oi any equ~ty in a~y o~ the Collateral without the prio? written consent of the Bank. The Bank shall havt, but shatl not b~ fimited to, the follow~ng rights, each of wliich may be exercised at eny time whether or not this Note is due: li) to p~edge o? transfer this Note snd th~ Collateral and the Bank shall thereupon be relieved o( all dut~es and rESponsibilitias hereunder and re~ieved from any and all liability with respeCt to any Collateral so pleclged or transterred, and any pledgee or transferee shell for all purposes stand in the place of the Bank hereunder a~d have all the rights o( the Bank hereunder; (ii) to transfe. the whole w any part oi the Collateral into the name oi icself w its nominee; (~ii) to vote the Collatcral; {iv) to notify the Oblgws of any Collatenl to make psyment to the Bank of any amounts due or to become due thereon; (v) to denwnd, we (o., collect, w make any compromise a settlement it deems desirable with reference to the Collaee~al; a~d (vi) to take posseuion o. control ot any proceeds oi Collateral. *"BAlIK" as ~nrd hersia t~eans T~le ~eef Assxiates. Inc. and/or its assiyns. . ' NOTICE: SEE OTHER SIDE FOR'IMPORTANT INFORMATION ~ R f fB5 75z Rev. /77 6~~ ~ , : - - ~ ' :