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Home My WebLink About0268 ' INSTALIMENT PROMISSORY NOTE (A) Amount Rece~ved S 5~$~•~ Tut~ FEF scw'I~ES~.~lC.* BANK N ME (B) P~em~um for Cred~t ~'e P. 0. BOX 618. .JENSEN BEIICH, FL. 3345~ L~~~~Oissbil~ty Ins. _ ~c) ooc~rnenw.~ sta~ws s flofle OFFICE AOpiiE55 (D) Other Chsrget (~tem~ie) S ~~e IEI t ~e NOTE NO. OATED: Febl"Udl^x ZO • . 19.~. (F) S (G) Amount Financed 5~~.~ oue: March 6 , ~g~, (A, B, C, O, E, FI S ~H~ ~~te~~, s-3~;~IR00"- PLACE: " , FLORIOA Credit Invest~gat~on S IJI Othe~ S M!f@ For value rece~ved, the unde~signed (hecei~atte~ called "'Maker"}~o~~tly and severally lif (K) S more tAan one) prom~se to pay w the order of the Bank, at rts oti~ce hsted above, ~he Topl ~Re of Payments (trom (NI a~ r~qhtl ot 9 246.~fl pollars payable ~n I20 _ equal mo~thly ~nstallments of S •0 ~ ~he ~~~st IM! FINANCE CHARGE 3~416.~ (H, 1, J, K, LI S 9 246.0~ ~nstaliment due on Apri 1 6 , 19~, and wbsequent instaliments due on (N) Total of Payments (G + M) S the6th day ot eacn monin tne~eatce~, together with a FINAI BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE • % S N~E DUE .19--~. The Bank shatl impose a dehnquency cAarge agamst [he Maker on any payment which has become due and remains in default (w s period in excess ot 10 days in a~ amount equal to 59L ot the amount ot c1~e principal part of the payment ~n default. In the event that the Note is ~ot paid in tull at maturity, a11 pay- ments, whethec principal, interest or oihe.w~se, shatl bear interest at the maximum legal rate altowed under the laws oi the State of Florida. All payme~ts made hereunder shall be credited tirst to incerest and then to principal, however, in the event'o( defaul~, tAe Bank may, in its sole diuretion, apply any payment to ~nterest, principal and/or lawiul charges then accrued. It ~s the inte~tion of the parties hereto that the provisio~s heiein shall not provide direttly or indirectly for the payment of a grwter rate oi inte.est or the retention of ar?y other charge tha~ is allowed by law. If, tor any reason, interest in excess of wch legal rate or a charge prohlbited by law shall at any time be paid, any wch excess shall either constitute and be treated as a payme~t on the principal or be retunded directly to the Maker. The Maker may prepay the enUre unpa~d balance o( the loan at any time. If the loan is p~epaid m(ull, accelerated o: retinanced, the Maker shall r~e~ve a refund of the unearned portion of the interest ar?d inwrance premiumz computed by the Rule of 78's method, except tAat the Bank shatl be entitled to retain a minimum interest cAarge oi S6,(I0. CREOIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREOIT. Such ~nwrance coverage is available at the cost desi9nated below for ihe term of the credit: (a) S for Credit l~fe Inwrance (b) S for GEdit Lite dr D~sabilrty Insurante: Chcck ? Credii life tnsurance is desired on the life q~ App1. Bu~hdate Box ? Credit L~fe & D~sabi6ty Insurance is desued on Bvthdate ~ Credit Life and/or D~sab~tity Inwrance is not desired. ' ~ oa~e: February 20, 1978 S~gnature T- N. FIBUShe@I' • , ~!GL-~/ S~gr~awre - • In Turtie Reef Oond. I, As secur~ty f t e ay n of tfie N[e th Maker hereby ra ts t t Bank a ur~ i terest in t followirg pro rt recor~e~ ~n ~.~t. Boo~C 2~6, P 2~3~..~hn~t ile~~c 2~ ~n COn~. C-12 an~ t~n ee n . C=6 . - r~espec ~ y as n sa s~rbgage. - ~ncluding all increases, subst~tutions, replacements, additions and accessions thereto and in the proceeds thereoi (heremaf[er caUed "Coltateral"1. This secunty ~I mterest shall also secure any other ~rxfebtedneu or hability of the Maker to the Bank d~rect or indirect, absolute o. contingent, due or to become due, now ex- ~ istirg or hereafter arising, ~ntluding eU future advantes or loans by the Bank to the Maker. f The Bank is also given a hen and a secunty mterest ~n all property and secunues of the Maker, endorser, wrety, guarantor or accommodation party of this Note (hereinafter rete~red to as the "Obl~gori '1, now in o? at any time hereatter com+ng into ~he control, custody or possess~on of the Bank, whether for the ex- pressed purpose oi be~ng used by the Bank as Collateral, or for any other purpose, and upon any balance or balances to the credit oi a~y accounts, including trust and agency actounts mamta~ned wrththe Bank by any of the Ob6gors, and the Oblgors agree to detiver to the Bank addiuonal Collateral or make such payments in reduct~on of the pr~nupa~ amount of the loan as shall be sat~sfactory to the Bank, ~n the event the aforementioned Collateral shalf decline in value or become unsatisfactory to the Bank. Addihons to, reducuons or exchanges oi, o: subsutuuons for [he Collateral, payme~ts on account of this loan or ~ncreases of the same, or o[her loans made partially or wholly upoo the Collate~al, may Irom [~me to dme be rnade wrthou[ alfec[iog the provis~ons oi this Note. The Bank sAall ezerase reasonable care in the custody and preservation o( the Cotlateral to the extent requ~red by applicable stature, and shall be deemed to have exerc~sed reasonable care if it Wkes such action tor that purpnse as Maker shall reasonably request in writ~ng, but no om~ssion to do any act not requested by Maker sha~l be deemed a tailure to exercise reaso~able care, and no om~ssion to comply with any request of Maker shatl oi itsel( be deemed a failure to exercise reasonable care. Bank shall not be bound to take any steps necessary to preserve any rights in the Collatera~ against priw parties and Maker shall take all necessary steps fw such purposes. The Bank or its nominee need not collect ~nterest on, or a prmcipal oi, any Collateral or give any notire with respect to ~t. The Bank may continue to hofd any Collateral deposited hereunder after the payment of this Note, if at the time of the payment and dis~arge hereof any ot the parties liabte fw the payment hereot shall be then directly or contingently liable to the Bank as Maker, endorser, wrety, guarantor or accommodat~on party of any other note, draft, bill ut exchange, or other instrument, or othe~wise, and the Bank may thereafter exercise all rights w~th respect to sa~d Collateral granted here~n even though this Note shall have been surre~dered to the Maker. ti the Bank deems itseN insecure or upon thp happening of any of the following events, each of which shall constitute a default, all liabilities ot each Maker to the Bank, includ~ng the entire unpaid principal of this Note and accrued interest, less any unearned interest and any incerest in excess ot the maximum allowed by law and any rebates required by law, shall imrtied~ately or thereafta, at the option of the Bank, except that the occurrence ot (cl or (d) shall cause automat- ic acce~erat~on; without notice or demand, becomedue and payable: (a) the (ailure of any Obligor to pe?fo.m any obligation, liability or claim to the Bank, to pay interest hereon within lOdays after ic is due, or if there is no due da[e, atter it is billed or otherwise requested or derrwnded, or co p3y any other liability what- ~ soeve? to the Bank when due; (b) the death of any individual Obligor, the diuolution oi anV partnership OWigor or the dissolution, merger or oonsolidation with- out the Bank's prior written co~se~t of any corporate OWigor; (c1 the filing of a petition in bankruptcy w the adjudication of insolvency w bankruptcy under any reorganization, arra~gement, readjustment of debt, diuotution, I~quidation w similar proceeding under any Federal or state statute, by or against any Obtigor; (d) an application for the appointment of a receiver for, or the making oi a general auignment for the benefit oi creditws by, any OWigor; (e) the entry ~ of judgment against any Obligor; (f) the isw~ng of any attxhment or garnishment, or the filing ot any lien, against any p~operty oi any Obligor; (g) the taking of possession of a~y wbsta~t~al part of the property ot any Oblgw at the instance of any governmental authwity; Ih) the determination by the Ba~k that a materi- al adverse change has otsurred in the financial condifion ot any Obligor irom the conditions set forth in the most retent financial sta[ement of wch Obligex heretofore turnished to the Bank, or from the condition of wch Obligor as heretofore most recently disdosed to the Bank, or that any vrarranty, representation, certif~cate o. statement of a~y Oblgor (whetha contained in this Note w notl pe?taining to or in connection wnh this Note or the loan evidenced by this Note concains an untrue statement oi materiat fact or omits to state material (act ~ecessary in order to make the statements made not misleading: o., (il the assig~- me~t by a~y Maker of arry equrty in any o( the Collateral without the prio~ written conse~t of the 8ank. The Bank'shall heve, but shatl not be limited to, the followirg rights, each ot which may be exercaed at any time whether w not this Note is due: (i1 to pledge w transte~ tltis NOte and th! Collatenl and the Bank shall chereupo~ be retieved of all dutils and refpOnsib~litiss Ixreunder and relieved (rom any and all hab~liry nnth respect to any Collateral so pledged or transferred, and any pledgee or transferee shall tor all purposes stand in the place of the Bank hereunde? and have all the rights ot the Bank hereu~der; (~i) to transfer the whole o~ any part of the Collateral into the name oi itself o~ ~ts nominee; (iii) to wte the Collateral; (iv) to notity the Obligors ot any Collateral to make payment ro the Bank oi any amounts due or to become due thereon; tv) to demand, we (or, collect, w make a~y cdmp.omise a settlement it deems desirable with reference to the Collateral; and (vi) to take possession or con[rol of any proceeds ot Collateral. *"BANK" as useA herein ueans Turtle Reef Associates, Inc. and/o~ its assigns. NOTICE: SEE OTNEH SIOE FOR IMPORTANT INFORMATION O R ~Q~ f~~1e F85 752 Rev. 7/77 BOJK C7 Fl'~GF (,U~ ~ . . _ _ _ _ - _ _ y . ~