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Home My WebLink About0959 INSTALLMENT PROMISSORY NOTE TURTIE REEf J1SS~CIATES, INC.+ ta A~„o„~~ RK.~,,.d s 2691.00 BANK NAME (B) P~M1ium to~ Crldil ~ li(~/Dis~bility Inf. _ P. O. 60X 618. JENSEM dEAiCH. iL. 33457 ~c? s~~~ s OFFICE A~ORE55 (0) OthN ChugOt (it~mii~) _ ~ NOTE NO. ~ATED: 10~ . 19~. (F) _ JY~~ Z1 83 iG) Amount Fi~snc~d ~i~~ OUE: , ~g_; (A, B, C, O, E, FI t_~~_ • (H) Inqnst = PLACE: . FIORIDA (11 Crsdit Inv~stigstion _ = A~ (Jl OthK s For vslue nceivsd, the undersign~d IMreinsfar ca1Nd "Msker") jointly and sev~rally (it (K) S more ihsn one) prom~s~ to psy to thiQr~r~t~ 8a~k, at its oHic~ listsd above, tM Total of PaYrrwnts Ifrom INl at ri9htl of i~~• Oolla~s psYable in ~ (L) t equal monMly install ~ s ot S S7• 18 , the tint ~M) FINANCE CHARGE 7:~.~ ~O (H, 1, J, K, l) S ~nsta~nt due on ~d y 21 , 19_L~„ snd wbsequent installmenn due on (N) Total ot Psymsnts (G + M) 5~~~_ ihe ~a ~y~ach mon[h thereaiter, togsther with a FINAL BAIIOON PAYMENT OF: ~ • ANNUAL PERCENTAGE RATE~% S OUE , 19 The Bank shall impose a delinqwncy chsrge spsinst the Maker o~ a~y payment which has become due and remains in default (or s period in ~xqu oi 10 days ~n an amount -equal to.596 of the amount of the principal part of the payment in default. In the event that the Note is not psid in tull at maturity, al! psy- mencs, whetha principsl, interest w otherwise, shstl bear interest st the maximum lepat rate sllowed under the laws oi tMf State ot Florida. All psyments mada hereundsr shall be c~edited first to interest and then to p~intipsl, howeve., in tAe event ot de(ault, the Bsnk may, in its sote discretion, ipply sny psyment to ~nterest, principal and/or tawtul charges then attrued. It is the intention of the pa~ues hereto that the provisions herein shall not provid~ directly or indiractty for che psyment ot a greater .ate of interest or the retention oi any other charge than is allowed by law. If, for any reason, interest in exceu oi wch legsl rete w a charge prohibited by law shall st any time be paid. anY suth excess shall either constitute and be treated as a payment on the prinCipal or be re(unded direCtty !o the Maker. The Nlaker may prepay che entire unpaid balantE ot the loan at any time. li the loan is prepaid in full, eCceterated w refi~anCed, the Maker shall receive s ~efund of the unearned portion of the interest and insura~ce premiums computed by the Rule oi 78's method, except that the Bank shall be entitled to retain a mu»mum interest charge oi . CREDIT LIFE AND CHEOIT LIFE d~ DISABILITY tNSURANCE ARE VOLUNTARY AND NOT RE~UIRED FOH CREOIT. Suth i~surantetovsrage is ava~lable at It?e cost designaeed below for the term oi the credit: la) S for Credit Life Iniuratk:e (bl S fo~ Credit Life m Dissbility Insuraete: Check ? Credit lifE Inwrante ii desired on the tite of Appl. Bi~thdate Box ? Credit Life d~ Disebility Insurance is desired on Birthdate ~ Credit Life arsd/w Disability Inwrar?ce is not desired. v,~~ ' ~ ~ Signature ~ Da!e: • . Signature ~ As security fw th pay nt f t No[e the Maker hereby ants to the 8ank a securiry interest in the tplfc~ ro r• e ~:on~: ~ecat~d~d dn 0. I~. Book 263 u~~T n . . . it ~~cluding all increases, substitutioru, replacemeots, additions and accessions the~eto and in the proceeds thereof (hereinafter called °Collateral"). This security ~ncerest shall alw secure any other indebtedneu or liability of the Maker to the Bank direet or indirect, absolute or contingent, due or to become due, now ex- ~s:~r,g or hereafter arising, including alt (uture advances w loans by the Bank to the Maker. The Bank is also given a lien and a seturity interest in all property and securities of the Maker, endorser, wrety, guarantor or attommodation party of this i No[e Ihereinaitqr referred to as the "Obligors"1, now in or at any time hereatter coming into the co~trd, custody or pouession of the Bank, whether (or the ex- ! pressed purpose ot beinp used by the Bank as Collateral, w(or any other purpose, a~d upon any belance or bala~ces to the uedit of any actounu, including ;rust and epency accounts maintained withtF?e Bank by any of the Obtigors, and the Obligors agree to deliver to the Bank additional Collateral a make wch ; payments in reduction oi the principal amount of the loan as shall be satistactory to the Banic, in the event the aforementioned Collateral shall decline in value ! or becoms unsatisfactory to the Bank. ~ Additions to, reductions or exchanges ot, or wbititutions for the Collateral, payments on account of this loan or inaeases of the same, or other loans made j parc;ally w wholly upon the Collate?a1, may from time to time be made without afiec[ing the provisions ot this Note. The 8ank shall exercise reasorwble care in cne custody snd p~eservation of the Collateral to the extent required by applicable statute, and shall be deemed to have exercised reasonable pre ii it takes wch ` ~ 3cc~on fw that purpose as Maker shall ~easonably request in writing, but no omission to do any act not requested by Maker shall be deemed a failure to exercise ~ ~ ~easonable care, snd no omission ~o comply with amr request of Make. shall of itself be deemed a failure to exercise reasonable care. Bank shall not be bound to ; 4 rake any steps neceuary to prese?ve any rights in the Collateral against prior parties and Maker shall take all necessary steps tor wch purposes. The Bank or its € nomi~ee need nOt collect interest on, or a principsl of, any Cotlateral or give any ~otite with respett to it. ~ The Bank may continue to hoW any Collateral deposited hereunde? after the payrr~ent of this Note, if at tAe time ot the payment and discharge hereof any of the pa~ties liable for the payment hereoi sAall be thM directly or contirgently IiaWe to the Bank as Make?, endo~ser, surety, gua?antw or aotommodation parry ~ ot any other note, cha(t, bill oi ezchange, w other instrumeot, or otherwise, and the Bank may thereatte? exercise a11 rights with respect to said Collateral 3 g+anced herei~ even though this Note shsll have been wrrendered to the Maker. 6 ~ It the Ba~k deems itself insecure a upon the hsppening of any of the (ollowing events, each of which shall constitute a defauit, all liabilities ot esch Make. to A the Bank, including the entire unpaid principal ot this Note and accrued interest, leu any unearned interest arxf any interest in ezcess of the mazimum altowed ~ by law a~d any rebates required by law, shall imrnsdiatNy or thereatter, at the option of the Bsnk, except that the occurrence oi lc) or (d) shall cau~e automat- ~ ~c acceleration;without notice ordemand, becort~edue and payable: (a) the faiture of any Obligor to pertorm any obli9ation, liability w claim to the Bank, to pay ~ ~nrerest he~eon within 10days after it is due, w ii the~e is no due date, alter it is billed or otherwise requested or demanded, w to pay any other Iiability what- = sxver to the Bank when due; (b) the desth of arry individual Oblqor, the diualution ot any partnership Obligor w the diuolution, merger w oonsolidstion with- ~ out tM Bank's priw written eonsent oi any corporate Obtipor, (c) the filing of a petition in bankruptcy or the sdjudiation of insolve~cy or bankruptcy under - any rewganization, arra~gement, readjustment of debt, dissdution, liquidation or simila~ proceading under aMr Federal or state statute, by or apainst arry Obl~gor; (d) an application for tt~e appointment of a raceiver for, or the making ot a general assignment tor the benefit of creditors by, any Obtigor; (e) the entry of ~uclgment a9ainst aMr Obligor; (f) the iswing of sny sttsthment or garnishment, w the filitg of airy lien, againtt any property of any OWi9or; (g) the takinp of possession of any substantial part of the property of any Obli9w st the i~tance of any govemrt~tal authority; (h) the determi~atio~ by the Ba~lc that a materi- : al adverse chanye hss oocrr~ad in the (inat~tial tondition ot any Obligw irom the conditions set forth in the most recent financial statem~~t of sutA OWigw ~ f heretofor~ fur~'sshed t0`d?~ Bink, w from th~ condition of wch Oblipw as F~erotofwe most recently disclosed to the Bank, or that any vwrranty, representa*ion, t certificate or satement oi any Obligor Iwh~tMr oonqinsd in tha Note o? not) pertaininp to w in connection with this Note or the loan evidenud by Mis Note contaira an untrue statement of materisl fact o? omits to state materisl tact netesssry i~ wder to make the sWtements made not misl~sdirg; or, (i) tAe auipn- - ment by any Nbker of a~y equity i~ a~y oi the Collatersl without tbe prio? w?itten conse~t of ths Bank. ~ - The Bank shall haw, but sfis11 not b~ limit~d to, the tollowing ~qhts, each of which ~nsY be exercised at any time wMether w not this Note is due: (i! to pledge or tnrofer Mis Nott and ths Collatersl snd ths Bank shsll thereupon be rsti~vacf of all duties and responsibilities hereunder and rtlieved trom any and ali ~ i~ability with ~ap~ct to any Colbtasl so pl~dg~d w uarnferr~d, and any ptedpae w tnnsfar~e shall tor sll purposes stsnd in the plsce of the Bsnk hereunder snd " have all the rphts ot the Benk hereundsr; (ii) to tr~nsiN tM whok w any psrt of tM Collatersl into tht name of itself w its nomi~; (iii) to vot~ tFw Collatenl; ~ {~v) to notify d?~ Obliqors of any Collstsrsl to m~ke paYment to the Bsnk oi any amounq du~ w to becort~e dw thereon; (v) to danand, we fa, colf~ct, w - make sny compromist or settlemsnt it daerm desinbls with rsferenos to tM Colbteral; snd (vi) to ake possession w control of sny p~ooNds ot Collatenl. Y •"BA~IK" as used hereln ~ea~s~ Turtle R~et Assoclates, Inc. and/o~ 1ts uaiqra. ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION FBS 752 Rev. 7/77 0 R 292 - Bt~OK f:AG~ + - , , - ~ - ; ~ = . ~ , - t~~ ~ ~ ~~~x,"~'~~-, ~ i ~ ~ , ~ ~ ~ ~ ~