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Home My WebLink About0239 INSTALLMENT PROMISSORY NOTE TUR?LE REEf ASSOCIlIT~S, IItC.' ~A~ A~„a,~t A«e~~~ s 555Q.00 BANK NAME (B) Premium for Cred~t ~~Q lii~/Disabil~ty Ins. S P. 6. 60X 618, JENSE~1 BElICH, FL. 33457 (C) Uocumentary Stamps s~~ OFFICE AODRESS (O) Other Charges (item~re) S IEI S ~ NOTE NO. OATEO: F~~~~ 8• ,~g 'S , (FI S ~ (GI Amount Fina~ced ~ ~~E: Feb~"uarY 21 .,s 8$ iA. e. c. o. e. F~ S 5560. ~N? s • , FLORIDA (1) Credit Invest~gation S ~lt PLACE: IJI Other S Fo~ vatue r~;ce~ved, the unders~goecf (hereinaf[er called "Maker") 1o~Mly and severally (it (KI S ~ more than one) promise to pay to the order of the Bank, at its off~ce hs[ed above, the Total n~~ ot Payments Ifrom INI si r~ghtl 01 ~11.~ Ooliars payable in 12'J s IMI FINANCE CNARGE ~57 ~ equal mo~thly installments oi S e7~ ~ ~ • ~h° (ust (H, I, J, K, L) S ' ~nsiallme~t due o~ ~1°C~3 Ll ,/9JSi, and wbsequent installments due o~ (N) Totat oi Payments (G + M) S ' cne.~day ot eacn montn cne~eatte~, to9etner v~nth a F~NA~ BA~~OON PAVMEN7 OF: ANNUAI PERCENTAGE RATE • 96 5 ~QNE DUE .19-~-- The Bank shall impose a delinquency charge aga~nst the Nlaker on any payment which has becane due and rema~ns detault tw a period in exceu of ~O d~ys m an amount equal to 59r. ot the amount of the principal part o~ the payme~i in default. lo the even[ [hat the Note is not paid in tull at maturity, all pay ments, whether principal, i~terest or otherwise, sha11 bear interest at the maximum legal race allowed under the laws of the State of Flor~da. All payme~ts made . h~reunder shall be tredited first to interest and the~ to pnntipal, however, in the event oi detault, tAe Bank may, in its so~e diuretion, apply any payment to ~ncerest, prirxipal and/or lawtul char9es tAen accrued. It is the intention ot the parties hereto that the provisions herein shall not p~ovide direcily or indirectly tor the payment o~ a greater rate ot inte.est or the retention of any other charqe than is allowed by ~aw. If, tor any reason, ~nterest in exceu oi such legsl rate or s charge prohibited by law sAall at any time be paid, any wch exceu shal~ either constitute and be treated as a payment on the principal w be refunded directly to the Maker. The Maker may prepaY the entire unpaid balance of the loan at any time. If the loan is prepaid ~n full, accelerated or retinanced, the Make~ shall receive a~ ~eiund of the unearned port~on of the~est and insurance premiums computed Gy the Rule of 7$'s method, except that the Bank shall be entitled to retain mmimum inter~t tharge o( ' CREDIT LIFE AND CREOIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT HEQUIREO FOR CREDIT. Such i~wrance coverage is ava~Iable at the cost det~gnated be~ow for tAe te?m of the credrt: (a) S for Credit Lite Inwrance (b) S ; for Credit Life dc Uisability (nsurante: - Check ? Credit LHe Inwrance is desired on the hte of . • appl. - Birthdate Box ? Credit Lite & Disability Insurance ~s desired on B~rthdate LJ Credit Life and/or D~sability Insurante is not desired. ~ o~te fe~ruary 8~ 177g SigrWtur ~ 1 1~ J. 1i1c • Signature q~,.{,~ As security for the paY~~j of the Note the Maker hereby grants to the 8an w i~tt~~sflil the follow~ng property:~~1 ~•~769~ ~1R~iri~ int~rest in Turt7p ~ef ~Qed I, Eticcorded on a R Book 263: Pat~ 2~2... !lnit Meeks . r- ~ncluding all increases, subsututions, ~eplacements, additions and acceu~ons thereto and in the proceeds the~eof (heremafter caUed "Collateral"1_ Th~s securi[y ,n2erest shall alw secure any other indebtedneu or liabil~ty of the Make? to the Bank direct or indirect, absdute or contingent, due or ~o become due, now ex- ~st~ng or AereaitN arising, intluding all future advances w ~oans by the Bank to the Maker. ' The Bank is also g~ven a lien and a zecurity mterest m all property and securities oi the Maker, e~dorser, wrety, guarantor or accommodation party ot this f Note (hereinafter refe.red to as the "Obligors"1, ~ow in or at any time hereafter coming into the rnntrol, custody or possess~on of the Bank, whether tor the ex- , p~essed purpose ot being used by the Bank as Collateral, or tor any other purpose, and upon any ba~a~ce or balancet to the cred~t of any accounts, includ~ng •~us~ aod agency accounts ma~nta~ned wrththe Bank by any ot the Obligo?s, and the Qb~~gon agree to deliver to the Bank add~uonal Collateral or make such ` nayrr~ents in reduct~on oi the pr~~cipal amount of the loan as shall be satisfactory to the Bank, m the event the aforementioned Collateral lhatl dechne in va~ue I become unsat~s(actory to the Bank. . ~ Additions :o, reduct~ons o? exchanges of, or subs[itutions ~o. ~he Colla[eral, payments o~ accou~t o1 this loan or ~ncreases of the same, or other loans made p3r[~a11y w wholly upon the Collateral, may from ume to tirt?e be made without affect~~g the provisions of this Note. The Bankshall exerc~se reasonable care m ~ ~he custody and preservation oi the Collatera~ to the extent requ~red by app~~cable statute, and shall be deemed to have exerusecf reasonable care if it takes such :c!~on fw that purpcxe as Maker shall reasonably request in writing, but no omissio~ to do any act not requated by Maker shall be deemed a tailure to exercise ~ ~easonable care, and no omiuion to comply with any request o~ Maker shall ot itsNf be deemed a failure to exercise reasonable care. Ba~k shall not be bound to ~ ~.;ke any steps necessary to preserve any r~ghts in the Collateral against prior parues and Maker shall take all necessary steps fw such purposes_ The Bank or its ~ ~~ummee need oot collect interest on, or a p~~ncipa~ oi, any Collateral or give any notice with respect to it. ~ The Bank may continue to hold any Collateral deposited he~eunder after the payme~t of this Note, if at the time of the payment and discharge hereof any of ~ tne parties liable for the paVme~t hereof shall be then direCtly or contirtgently fiaWe to the Bank as Maker, endorser, sure[y, guaranto. or aCCOmmodation pa~ty ~ cf any othe? note, d?af[, bill of exchange, or other instrumem, or othervvise, and the Bank may thereaher exerc~se all rghn w~[h respecc to said Collateral ~ g~anted herein even thovgh this Note shall have been surrendered to the Maker. ~ ~ If the Bank deems itselt insecure w upon the happening of any ot the foliowir?g events, each of whicA sha~l constitute a default, all liabilities of each Maker to ~ tne Bank, including the entire unpaid princ~pal oi this Note a~?d accrued interest, less any unearned interest and any interest in excess oi the maximum allowed t;y law and any rebates required by law, shalt imrnediately or thereafter, at the option of the Bank, except that the ocsurrence of (c) or (d) shatl cause automat- ~ ~c accelerauon; without notice or demand, become due and payable: (ai the failure oi any Obligor to perform any obtigation, liability or daim to the Bank, to pay ~nterest hereon within l~days after it is due, or if there is no due date, after it is bilted or otherwise requested or demanded, or to pay any othK liebility what- scever to the Bank when due; (bl the death of any individuat Oblgor, the dissolution of any p2rtne~shiD OW igor w the dissolution, merger or oDnsolidation with- out the Ba~k's prior written cw?sent of any corporate Obligor: (c) the tiling of a petition in bankruptcy w the adjudication of insolvency w bank~uptcy u~de~ s any reorgannation, arrangement, readjustment of debt, dissolution, liquidation or simitar proceeding uoder any Federal or ttate statute, by or against any E Obi~gor; Id) an application fw the appointment of a recerver to?, or the making oi a general assignment fa the benefit of creditws by, any Obligor; (e) [hr ent .ry ~ oi ~udgment against any Obligor; (i) thB ~iwing of sny attachment or garnishment, or the filirg oi atry lien, against any property of any Obligor; (g) the taking of pozsession ot any wbstant~al part of the property of a~y Obligor at the ~nstance ot any governme~tal authwiry; (h) the deter.mination by the Bank that a materi- al advene change has occurred in the financial condition of any Obligor from the co~ditions set forth in the most recent tinancial statement oi wcA Obligor heretofore fur~islN[I to the Ba~k, Or trom the to~dition of wd~ Obligor as heretofore most reCently disdofed to the Bank, or that a~y warranty, rep?esentation, ~ ceri~f~cate or statement of any Obligcu (whether co~tained in this Note or notl pertaining to or i~ connection with this Note or the loan evidenced by this Note ~ contains a~ unirue statement of material tact or omits to state materiat fact necessary in order to make the statements made not misleadi~g: or, (i) the ass~gn- ~ ment by any Maker oi any equrty in any of the Collateral without the priw mitten consent of the Bank. a The Bank sha11 have, but stwll ~ot be limited to, the following rghu, each of which may be exercised at any time whether w not this Note is due: (il to ~ piedge or transfer this Note and t1~e Collateral and the Bank sl?all thereupon be relieved of all duties and responsibilities hereunder and relieved irom any a~d a!I ~ I~ab~lity with respect to any Collateral so pledqed or tra~sferr~i, and any pledpee or transferee shall tw alt purposes stand in the place of the Bank hereunder arxf ~ have all the rights of the Bank hereunder; (ii) to transfer the whole or any part of the Coltateral into tAe name oi itseH or its nominee; (iii) to wte the Collate2~; ~ (~v) to ~otify the Obligon nf any Collateral to make payme~t to the Bank of any amounts due or to become due tAereon; (v) to demand, we'tor, collect, o. make any compromne or settlement it deems desirable with reference to the Collateral; and (vi) to take posseu~on or co~trol oi any proceeds ot Collateral. a *"6ANK" as used t;zr~in a~eans T~rtle Reef hssociates, Inc. and[or tts assi~s. NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION g~RK ~~i ~ FB5 752 Rer. 7/~7 v - ~ . - - - ' -