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Home My WebLink About0254 INSTALLMENT PROMISSORY NOTE ~ TURTIk RE:EF ASSi~G1A~'ES, I"~C.* iw ~~„o~~~ R.n+~ s 10,~2.00 BANK NAME (8) Premium for Crldit n~~ ~~aia~nu~~v s P. 0. SOX 618, JAN,S~~{ S~ALH. FL. 33457 ~c? o«~~,,.~t~ry s~~~?~o. s~~* OFFICE ADORESS (0) Oth~r Chsr~s (~tfm~i~) Z n~~ February 2, 78 ~E~ s none NOTE NO. DATED: . 19_• IF) S~~~ February 16, . gg (G) Amount Fina~ 1~,~;~~ DUE: , ~g_, (A, B, C, D, E, FI S IH) Int~rest i ' ~ PIACE: . FLORIDA (1) Cr~dit InvesUgat~on S n~nQ IJI Othe. S For value racerved, the undersigned (Mrei~atttr tatled "Maker") jointly and sevaraliy (if (K) s j~~~{'~Q more than ooe) p~omise to pay to th order of the 8ank, at its otf ica liited abov~, the Toul ot Paym~nts (trom (NI at right) ot ~1_~3•~ Dollars payable in 1~ IL) S~+~`-~=o 1~ 1! tMl FINANCE CNARGE equal mo~thly ~nstallments of S • , the first IH, I, J. K. L) S lnstallment due on ~"~rch , ~8 78and wbsequent installments dw on (N) Total of Payments (G + M) S ~ne 1 6ttbsy ot eacn mo~~n i?~e?eatie., ~oyetr~ar w~~h s F~NA~ ea~~ooN PnvMENT oF: ANNUAL PERCENTAGE RATE • % s, ~Q~~E OUE . 19 TAe Bank shall impose a delinquency charge sqsinst the Maker on aMr payment which hss becorr~e due and remains i~ default for a period in ezuu ot 1~ days ~n an artwunt equal to 5X of the amount o( ihe principel part ot th! payment in default. In the event that the Note is not paid in full at maturity, all pay- men[s, whether p~incipal, interest or othervvise, shall bea. inte?est at t~e maximum legsl rate allowed under the laws of the State ot Ftorida. All psyments rnade hereunder ihall be credited first to interest and then to pnntipsl, however, in tAe event of default, the 68~k may, in its sole distretion, appty any psyment to ~nterest, prlncipal ant!/or lawful charges then atcrued. It is the in[ention o( the parties hereto tAat the provisions herein sha11 t?pt p?ovide direCtly or indirectly for the payment of a greater rate of interest w the retention oi any other charge than is allowsd by law. If, fw sny reason, i~terest in excets of wch legal rate or a charge prohibited by 1aw shall at any time be paid, a~y such excess sha11 either constiwte and be treated as a paymen[ on the principai or be ~efunded directly to the Maker. The Maker may prepay the entire unpaid batance oi the loa~ at any time. If the loan is prepaid ~n full, acceterated or refinanced; the Maker shall receive a re(und ot the unearned portio~ of the ~nterest and inw?ance p~emiums computed by the Rute oi 78's method, except that the Bank shall be ent~tled to retsi~ a m~nimum interest charge of 56,0~. CREDtT LIFE AND CREDIT LIFE d~ DlSABILITY INSURANCE ARE VOLUNTARY AND NOT HEQUIRED FOR CREDIT. Such inwrance coverage is available at the cost designated below for the term of the cred~i: (a) S tor C~edit Lite Inwrance (b) S tor Credit Li(e di Disability Inwrante: Check ? Cred~t liTe Inw~ance ~s des~?ed o~ the life oi qpp~. Birthdate Box ? Credrt Life & Disabihty Insurante is desired on Birthdate ~ 'M1 Credit Life and/or Q~sability low~ance is not desired. ~Z/` ~ ~ate: February 2~ 1978 S~gnacure Segnacure ~ • ~~ef' ~ As security fw the payment ot the Note the Maker hereby grants to the Bank a security interest in ~+a~~~~ p.or~tv:f n T'.~1'~~ e 7~l1i°f ~.M! T~ F~e~o1'~r~! it~ ~5~,.. P~ 23~..._linit!~let'~~ R anr ~ tR C.GR~'. 2~ . 11~~.t. N~. ~'-1~ ~s descrihe~ in taid asnM,~ree_~ ~ncludirg all incr~ses, wbstitutions, replaceme~ts, additions and accessions thereto and in the proceeds thereof (hereinafter called "Collate~al"l. This security ~ interest sha~~ also secure any other indebtedneu or Gability oi tF?e Maker to the Bank direct or ind~rect, absolute or contingent, due o~ to become due, now ex- 'i isUng or hereatter arising, including atl tuture advances o? ~oans by the Bank to the Maker. The Bank is also given a lien and a security interest in all p?operty and securities oi the Maker, endorser, wrety, guarantor or accommodation pa?ty of this Note (hereinatter re~erred to as ihe "Oblegors"l, now in or at any time he~eatter coming into the rnntrol, custody or possession of the Bank, wt?ether for the ez- , pressed purpose oi being used by the Bank as Collateral, or for any other purpose, and upon any batance or balances to the credit of any accounts, inctuding t~ust and agency accou~ts ma~ntained withthe Bank by a~y of the Obiigors, and ihe Obtigors agree to deliver to the Bank additional Collateral or make such payments in re~ucuon ot the p~~ncipal amount of the loan as sha~l be satisfactory to the Baok, in the event the aforert?entioned Collateral shalt decline in value or become unsatistactory to the Bank. Addit~o~s to, reduct~ons or ezchanges of, or substitutioos for the Collaterel, payments on account of this loan o. ~ncreases of the same, or other loans made pa.t~ally w wholly upon the Collateral, may from time to t~me be made without a(fecting the provisions of this Note. The Bankshat! exer~ise reasonable care in the custody and preservation o( the Collateral to the exteni required by app~~cable statute, arxi shall be deemed to have exercised reasonable care if it takes wch act~on tor that purpose as Maker shall reasonably request in writing, but no omission to do any xt not requested by Maker shall be deemed a tailure to exercise reasonabte care, and no omiuion to comply with a~y request of Maker shalt of itself be deemed a failure to exercise reasonable care. Bank shall not be bound to take any. steps neceuary to preserve any r~gl~ts in the Collateral against prior parues and Maker shall take all ~ecessary steps for wch purposes. The Bank or its nom~nee need not collect interest on, or a principal of, any Collateral o. give any notice with respect to it. The Bank may co~t~nue to hold any Collaterat deposited hereunder after the payrner?t of th~s Note, if at the time of the pay~nent a~d discharge hereof any of the parties liable tor the payment hereof shall be then directly or co~tingentty liabte to the Ba~k as llAaker, endorser, wrety, guarantor or accommodacion party of any other rate, dra~t, bill of exchange, o~ other instrument, or otherwise, a~d the Ba~k may thereafter exerase all rghts with respect to said Cotlate.al granted herein even though this Noce shall have been wrrendered to the Maker. If the Bank deems itself insecure o? upon the happenir?g of any of the following eve~ts, each of which shall constitute a default, all liabilities of each Maker to the Bank, including the entire unpaid principal oi this Note and accrued interest, less any unesrned interest and any interest in exceu of the maximum allowed by law and any rebates required by law, shall immed~ately or thereafter, at the option of the Bank, except that the occurrence of (c) or ld) shall cause automat- ic acceleration; without notice or demard, becomedue and payable: (a) the failure of any Obligor to pertorm any obligation, liability or daim to the Bank, to pay ~nterest hereon within 10days after it is due, w if there is no due date, after it is billed or otherwise requested or demanded, or to pay any other liability what- soever to the Bank when due; (b) the death of any individual Obligor, the dissolution of any partnership Obligor o~ the dissolution, merger w tonsolidetion with- out the Bank's prior mitten consent of any ccrporate Obligw; (c) the tiling ot a petition i~ bankruptcy or the adjudication of insolvency or bankruptcy under any reorgan~zation, arrangement, readjustment of debt, distolutio~, liquidation a similar proceeding unde? any Federal or state statute, by o~ against any Obligor; (d) an application for the appointmer)t of a receiver for, a the making oi a general auignment for the benefit of creditws by, any Obligor: (e) the entry oi judgment a~ai~st any Obligor; (i) the iswin9 of any attachment or garnishment, w the filirg oi any lien, aga~nst any property of any Obligor; Ig) tfie taking of possession of any substantiai part of the property ot any Obligor at the instance of any gcrrer~mental authority; (h) the determination by the Bank that a materi- al adverse change has occurred in the financial corwiition ot any Obligor from the conditions set iwth in the most recent financial statement of wch Obligor heretotwe turnished to the Bank, or from the conditio~ of wch Obligor as heretotae most recently disdosed to the Bank, or that any warranty, representation, cert+ticate or statement oi any Obligor (whether containad in this Note or rwt) per~ainir?g to or in connection with this Note or the loan evidenced by this Note contairn an untrue statement oi material fact or omits to state material (act necessary in order to make the statements made not misleading; or, (i) the assig~• ment by any Maka of any equity in any of the Collaterat without the priw written coruent of the Bank. The Bank shall have, but shall not be limited to, the followi~g rights, exh of wfiirh may be exercised at any time whethe~ w not this Note is due: (i) to pledge w transfe~ this Note and the Collatenl and the Bank shall thereupon be relieved of all duties and responsibilities hereunder and relieved from any and att I~ab~lity with respect to any Collateral so ptedged or transferred, a~d any pledgee or transferes shall (or all purposes stand in the place ot the Bank hereunder and have atl tl+e ~ights ot tM Bank hereuejde~; (ii) to trAnsisr the whole w any part of the Coltateral into tf?e name of itself or its nominee; (iii) to vote the Collateral; (iv) to notify the Obli9on of any ColUtKS! io mske payment to the 8ank of any amounts due or to become due thereon; (v) to demand, we fw, collect, w make any compromise w settlement it daems desirable with reference to the Collateral; and (vil to take possession or cor?trol ot a~y proceeds of Collateral. *"BA'tK" ~s used !~erein r~a;~s Turt~~ R:.~et ~issocia~t~s, Inc. an;/or ~~~~ns. ' NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMAT~ON BUpK PAGE ~ FBS 752 Rev. 7)77 • - , - - - - ~ . . . ~ ~ . _ w . . ~ _ - x~:~ ~ ~ .,a.~~~