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Home My WebLink About0992 INSTALIMENT PROMISSORY NOTE TURTL~ REEF ASSOCIATES. IIIC.* (A) Amoum R~c~~~b s 5~.~ BANK NAME (B) P~tmium lor C~~dit ~ P. 0. e0X 618. JENSEN BEJU:H, FL. 327Ap L~~~IOis~bility (ns. _ lC) Oxum~otsry Sumps = A~~ OFFICE AOORESS . (D) Othlt Chiryef IittRliZf) =_~a'~ Jt~n~ ie~ s neee i NOTE NO. ~ATED: ,~g IF) = A~~ 4 J~ 21 ~ (G) Amount Finsnc~d ' IA, B, C, O, E, F) S 5~b•OQ ' DUE: • 19-• IHI Int~rest S_~~.r{a_ ' Pl_ACE: . FIORIDA (1) C~edit I~vestigstio~ = R~~ IJI Othe. S ...~N For valu~ r~ce~ved, the unders~gnsd (henins(ur esllad "Mak~~") iointly and severally (if (K) s mo~e than oM) P~omise to pay to the~ t~nk, at its o((ice listed above, the7~l (L) S O~ of Paymtnts (from (NI at right? ~ ~ Oollars WY~~~ the f~ IMI FINANCE CHARGE n ~ equal monthly installme~tsbf~ • (H, 1, J, K, L) S ~ ~nsta~~e~t due o , 19_, snd wbsequent installments due on (N) Total ot Psyments (G + M) i~,~,.~Q.__ ine day ot ~wnth tht~ealter, toyeih~. v~ric~a~j~s~~..ooN PAVtNENT oF: ANNUAL PERCENTAGE RATE ~~p..,_% s oue . ~s The Bank slw1l impose a delinqusnty charge against tM IN~ker o~ a~y paY~'~ent wAich has become due and remains in default for a period in ezcess ot 10 :~avs ~n an amount equal to.5% of the amount of the princ~pal pa.t of the payment i~ delault. 1~ the event thst the Note is not paid i~ full at maturity, all pay- ments, whether principal, interes! o? otherwise, :hall bear interest at the maxirtwm legal .ate allowed under ths laws of the State oi Florida. All payments msde hereunder shall be credited first to interest and then to principal, however, in the event of default, the Bank may, in its sole distretion, spply any payment to ~nterest, pri~tipal and/o~ lawful charges the~ accrued. It it the intention of the parties hereto that the provisions herein shall not p?ovide directly or itxlirectly for ihe payme~t oi a greater rate of interest or tM retentio~ ot any othe~ charge than is allowed by law_ li, for any reason, interest in excess oi weh legal rate o. a charge prohibited by law shall at any time be paid, any wch exceu shall either constitute and be treated as a payment on the principal or be refunded drectly to the Maker. The Maker rt?ay prepay the ent~re unpa~d balar?ce of the loan at any time. If the loan is prepaid in tull, acce~erated o. reiinanced, the Maker shall receive a ~efund of the unearned portion ot the interest a~d inwrartce prem~ums computed bY ~he Rule of 78's method, excepc that the Bank shall be en[itled to retain a mmirtwm interest cha~ge of Sr,1.OO. . CREDIT IIFE AND CREDIT LIFE b DISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREOIT. Such inwrance coverage is ava~Iable at the cost designated below fo. the term of the uedit: (a) S for Credit Life Inwrance (b) S f~r Credit Life m Disability Insurance: C~eck ? Credit iife Insurante is desired on the life of qPP~ Birthdate Box ? Credit Life d~ Disabiiity Insurance ~s desired on Birthdate ~ L} Credit life andlor DisObility I~surante is not desired. JU11@ 7s 1~1~8 ti2~ ~ u1~rw1~ ' Date: Signature ~ • Signature ' rt~ ~E~U~1~ ~oq~y~y~es4~~9l~(~~pej~(,~ i n Turtl e Reet ' AsseturitYf~~: i~~~tCQT'~@{1 ~e~~ir~.~~ICtLa3~k~ac~u~'ritCW[~.~.tllill'L 11~~~5 r1J a E1 ~ . ~ s 1 . . ~ . . ~nclud~ng all inCreases, wbs[i[utions, replatements, additiorK and atcessions the~eto and in the proceedi thereof (hereinafter called "Cotlateral"1. This slcurity ~ ~nterest shall also secure any other indebtedness or liability of the Maker to the Bank direct or indirect, absolute or contingent, due or to become due, now ex- ~st~ng or bereafter arising, intluding all tuture advaocef a loans by fAe Bank io the Nlaker. I The Bank is also given a lien and a security interest in atl property and securities of the Maker, endorser, wrety, gua~antor or accommodation party of this Note (hereinafte~ referred to as the "Obl~gors"1, now in or at any time heseafter comin9 into the rnntrd, custody or possession oi the Bank, whethe? fw the ex- ' p~essed purpose of being used by the Bank as Collateral, w tor any otha purpose, and upon amr balar.ce or balances to the credit of any accounu, including c~ust arxf agency accounts maintained vriththe Ba~k by amr of the Obligors, and the Obligors ag?ee to deliver to the Bank additional Collateral w make such ~ payments in ~eduction of the principal amount of the loan as sAall be satisfattory to the Bank, in the event the atorementionEd Collateral shall deCline in value ~ o~ become uruatisfactory to the Bank. ~ Additions to, reductions or exchanges of, w wbstitutions for the Collateral, payments on account of this loan or increases of the same, or other loans made A par[~ally or wholly upon the Collateral, may from time to time be made without affectir?y the provis~ons of this Note. The Bankshall exercise reasonable care in ~ che custody and prese~vation oi the Collateral to the extent required by applicable statute, a~d shall be deemed to have exercised reasonable cara if it takes such ~ achon for that purppse as Maker fAalt reasonably request in writing, but no omissio~ to do any att not requested by Maker shatl be deerned a failure to eze~cise r ~ reasonable care, a~d no omiuion to comply with any request of Maker shall of itself be deemed a failure [o exercise reasonable care. Bank shall ~ot be bound to . ' ~ take any steps oxessary to preserve any rights in the Collateral against prior parties and Maker shall take all neceuary steps fo~ wch purposes. The Bank or its nominee need not oollect interest on, or a principal of, any Co~~ateral or give any notice with resQett to it. ~ The Bank may continus to hold any Collateral deposited hereu~der aiter t1?e payrtient of this Note, if at the time ot the payment a~d discharge hereof any ot ; ~he parties lisble for the payment hereoi shall be then directly w contingendy liable to the Bank as Maker, endorser, wrety, guarantor or accommodation party ~ of any other note, drait, bill of excha~ge, or othe~ instrume~t, or o[herwise, and the Ba~k may thereafter exerc~se all rights with respect to said Collateral ~ gran[ed herein eren though this Note shall have been wrre~dered to the Maker. ~ If the Bank dsems itself insecure or upon the happe~ing of any of the followi~g events, each of which shall constitute a default, all liabilities oi each Maker to ~ che Bank, including the entire unpaid prir?cipal ot this Note and accrued i~terest, leu any unWrned interest and any interest i~ excett of the maximum allowed i ~ hy Iaw and any rebates required by law, shalf irtxnedistNy or thereafter, at the option ot tbe Bank, except that the occurre~ce of (cl or (d) shall cause sutomab { ~c acceleration: without notite w demand, becwnedue s~d payable: (a) the failure of any Obligor to perform any obli9ation, liability or claim to the Bank, to pay ~ interest hereon within lOdays after it is due, or it there +s no due date, atter it is billed w otherwise requated or demanded, w to pay any other liability what- { soever to the Bank when due; (b) the death of any individual Obligor, tMe dissolution df any partnership Obligor or tt?e dissolution, mergsr w ponsolidation with- ~ out ehe Ba~k's pria written consent oi any corporate OWigo?; (c) the fiting of a petition in bankruptty o~ the adjudication of insolvan~y or banktuptCy under any reorganization, arra~gement, resdjustment of debt, diuolution, liquidation or similar proceeding under any Fede~al or state statute, by or apainst any t { Obl~gor; Id) an application (or the appointment of s rsoeiver iw, or the making of a general assignment for the benefit of creditws by, any Obligor; (e) the entry 5 of judgrnent agsi~st any Obligo?; (i) the iswing ot any attathment or gsrnishme~t, or the tilirg of any lien, against any p~operty of any Obligor; (g) the taking of ~ ~ possessia+ of any wbstantisl part of the property of any Oblgor st ths i~tance of any governmentsl authority; (h) the determination by the Bank that s materi- i at adverse change hss oecurred in the finantisl condition o( any Obligor from the conditions set forth in the most recent (inanciel sWtement ot wch Obligor heretofws furnishsd to the Bank, or irom the condition of weh Obligor as heretofwe most recently disdosed to the Bank, w that any vvarranty, ~epresentation, ~ certificate or statertwnt oi a~y Obligo? (whecher contained in this Note w not) pertaining to o? in conns.:tion wich this Note or tM loan evidented by this Note - contains an1 ~tqSu~ statement Of material fatt w omits to sWte mate~iel (act netessery in wder to make the statements made not mislesding; or, the ass~gn- _ ~ menc by sny MqkN of amr equity in any of tM Collatersl without the prior mitten consent ot the Bsnk. n Th~ Bank shall have, but shall not be limited to, th~ following rights, exh ot whieh may be exercised at any time wF?ether w not tAis Note is due: (i) to ~ ptedg~ o. tnrafer Mis Note a~d tt+~ Collatersl snd the Bsek slwll thereupon be relieved of all dut~es snd responsibilities hsreunder and relie~rsd from soy and ali ~ I+ability with respsct to sr?y Collateral so pl~d~d or transtsrred, a~d 8ny pled~s or transfKae shsll tor alI purposes sta~d in the place of tht Bank hereundK and ~ have all the riyhts of tMe Bank hereundsr; (ii) to tnrutN ttk whole w aMr psrt of the Collsteral into the name of itsel( or its nominee; (iii) to wte tM Collatenl; ~ (rvl to notify th~ Oblgws oi sny Collateral to mske psymtnt to the 8ank ot any smouna due or to becorne due thereon; (v) to dern~nd, we for, coll~ct, or k mak~ sny compromise or setttemsnt it deams d~sirable with refKe~e to the Collatersl; snd (vi) to tsk~ possession w contrd oi ~ny proct~ds of Collatsrsl. ~ ~"BANK' as used herein Aeans Turtle Reet qssocia I~c- and/o~ its assl9na. ~ ~ NOTICE: SEE OTHER SIOE FOR IMPORTAIYT IN~~AAT(~N U R ~ ~ FBS ~ss Re~. BQQk ~ ~ P~,Cr ~ , - ~ - - - - - ~ ~ ~ ~~~~~rr ~ ~ ~ ~ ~ ~ ; ~ ~ ~ T ~yj~'`•.?u~.. ,~N:y' F ~ ~'-~~~.`'^~.~c~.F'.~` ` ct ~~E E~~~..~ ~ ~ ~ ~a~t~`~'-~,+`.~-. ~ j ~ . ~ ~ -