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Home My WebLink About0758 INSTAl.LMENT PROMISSORY NOTE ~ TURTLE R~EF 1lSSOCIAT~S~ INC_~ (A) Amount R~cs~ved S~6a.`~ BANK NAME (8) Premium ~or Credit ~~r.~a~~~~~ s no~~c ~ P. 0. F30x 618, JEhS~t1 BEACH, FL. 33457 ~c~ ~«~~~~a.v sie~ s ennc~ OFFlC£ AL~ORESS 101 Otha Cha~~s !:;~m~sel t p4n~ ~E, s nona ~OTE NO. OATEO: ~y 31 .~s 78 tFi s none ouE: June 11 ~/9 $3 iG' (A e c fo E.`F? s~60. ~JO ~H~ ~~~.~~t s ~ ~3. ~ PLACE: , FLORIDA Crsdit Inwstigation s n4ng IJI Other S n~~~ For value received, the undersig~ed (herei~sfter called "Maker") jointly and severally (it (K' s mo?e than o~el prom~se to pay to the ordK of tM Bank, at its office listed above, the Total ot Payments (trom IN) at ri9ht) oi ~~7~;~ ~ j~Q Do~lars payabk in _fjQ s nOt1A IM! FINANCE CHARGE g13. 10 eyual monthly inscallment of S , the (i~st (H, 1, J, K, l) S ` ~ns~alyne due on ~~~y , 19_, and wbsequent installments due on (N) Totat oi Payments (G i M) S [he l l~ ot each month thereatter, together with a FINAL BA~~oON PAYMENT OF: ANNUAL PERCENTAGE RATE % 5 OUE - ' , 19 ~ The Bank shall irn~wse a delinquenty charge agai~st the Maker on any payment wi~ich has become due and rert?ains in detault fw a period in exoess of 1~ Uays i~ an amount equal to 5% of the amou~t of the pri~cipal part ot the payment in default. In the event that the Note is not paid in full at maturity, all psy- mencs, whether principal, interest or otherwise, shall bear interest at the maximum legal rate allowed under the laws of the State oi Flwida. All payments made nereunder shall be credited first to interest and then to printipal, however, in the event of detault, the Bank may, in its sole diuretion, apply soy payment to ~nte~est, principal and/or lawful charges then accrued. It is the intention oi the parties hereto that the provisions herein shall not provide directly or indirectly tor che payment of a greater rate of interest or the retention of any other charge than is allowed by law. If, tor any reason, interest in excess oi wch legal rate or a charge prohibited by law shall at any ume be pa~d, any wth exCess shail e~the~ consutute and oe treated as a payment on [he principai w oe retundeti directiy to the Maker. The Maker may prepay the entire unpaid balance oi the loa~ at any time. If the Ioan is prepaid in (utl, accelerated or refinanced, the Maker shall receive a -e{und of the unearned poruon of the interest and insurance premiums cort~uted by the Rute of 7$'s method, ezcept that the Bank shall be entitled to retain ~ m~ninium interest charge ot ~.0~. - CREDIT IIFE ANU CREDIT IIfE 6 OISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO FOR CREOIT. Suth i~surancecoverage is ,va~!able at the cost designated below for the term of tF?e credit: (a) S tor Credit Life Inwrance (b) S !or Credit LifE d~ Disabil~ty Insurar?te: Check ? Credit Life Insurance is desireci on the I~te ot 4pp~. Birthdate B:x ? C~edit lite & Disability Insurance is desued on Birthdate ~ Credit Life and/or Disability Insurance is not desued. ~ /J vace 31 ~ 197$ S~ynature L Y ~ . EC i Signatu A As secunty for the payment oi the Note the Maker hereby grants to the Bank a secur y ~iR€r~est ~n the o ~ng property= n~~ " as P.~scri6~d in said gert~aae ~~cluding all increates, substitutions, replacements, additions a~d acceuions thereto and in the proceeds the?eof (hereinatter called "Cotlateral"1. This Seturity ~ncerest shall also secure any other indebtedoess or liability of che Maker to the Bank direct or indirect, absolute or concingent, due or to become due, now ex- ! ~s2~ng or hereafter arising, including all future advances a loans by the Bank to the Maker. _ i The 8ank is also given a lien and a security interest ~n all property and securities ot the Maker, ¢ndorser, wrety, guarantor or accommodation party of this € Note (hereinafte~ referred to as the "Obligori'1, now in or at any time hereaiter coming i~to thecontrd, custody or posseu~on of the Bank, whether fw the ex- ~ p~essed purpose of.being used by the Bank as Collateral, w for any other purpose, ar?d upon any balance or balances to the credit of any accounts, includirg t~usc and agency accounts maintai~ed withthe Bank by any ot the Obligors, and the Obligors agree to deliver to the Bank additio~al Collateral or make such 4 oeyments in reduction of the principal amount of the toan as shall be satisfactory to the Bank, in the event the aforementioned Collateral shall decline in value ~ o- oecome unsatisiactwy to tAe Bank. ~ Additions to, reductions a exchanges of, or substitutions fo. the Collateral, payments on account of this loan a increases of the same, or other toans made ~ pa•~ially or wholly upon the Collateral, may trom time to time be made without affect:ng the provisionz of this Note. ?he Bank shall exerc~se reasonable care in ~ rhe custody and preservatior? of the Collateral to the extent required by appliwble statute, and shall be ~emed to have ezercised reasonable care if it Wkes such acc~on fw that purpose as Maker shall reasonably requett in vwitirg, but no omission to do any act not requested by Maker shall be deemed a failure to exercise ~ ~easonabte care, and no omission to comply with any request ot Maker shatl oi itself be deemed a failure to exercise reasonable care. Bank shall not be bound to ~ cake any steps neceuary to preserve any rights in the Collateral aqainst p?ior parties and Maker shall take all ~ecessary steps for such purposes. The Bank or its nc~m~~ee neetf not collett interest on, or a printipal of, any Collateral or give any notice with respect to it. g The Bank may continue to hold any Collateral deposited hereunder after the payment of this Note, if at the time of the payment and discharge hereof any of ~ the parties liable tor the payment hereof shall be then directly or continge~tly liable to the Bank as Maker, endorser, wrety, guarantor or aocommodation party of any other note, draft, bill of exchange, or otha instrument, or otherwise, and the Bank may thereafte. exercise all rights with respect co said Collateral ' ~ g+anted herein even though this Note shall have been wrrendered to the Maker. i - If the Bank deems itseli insecure a upon the happening of any of the following events, each of which shall consti[ute a default, all liabilities of each Maker to ~ ti,e Bank, including the entire unpaid principal of this Note and accrued interest, leu any unea?ned interest and any interest in exceu of the maximum allowed ~ by law and any rebates required by law, shall immediately or the~eaiter, at the op[ion oi [he Bank, ezcept that the occurrence of (c) w(d) shall cause sutomat- ~c acceleration;without notice wdemand, becomedue and payable: (a) the failure of any Obligor to pertorm any obligation, liability or claim to the Bank, to pay _T :nterest he~eon within lOdays after-it is due, w ii there is no due date, afce~ it is billed o? otherwise requested or demanded, a to pay any other liability wha.- soever to the Bank when due; (b) the death of any individusl Obligor, the diuofution oi any partnership OWigw or the diswlution, merger w oonsolidetion with- ou[ che Ba~k's priqr writte~ rnnsent of any co?porate Oblgw; fe) the filing of a petition in bankruptcy w the adjudication of insolvency a bankruptcy under = any reprganization, arrangement, readjustment of debt, disspiution, liquitfation o~ similar p~oceedii~g under any Federal w sWte statute, by or against aey ' Obligor; (d) an application fw tbe appointment of a reteiver tor, or the making oi a general assignment for the benefit of creditors by, any Obligor; (t) the entry ~ ~ of ~udgment against arry~~b!'iyor; (f) the iswing of any attachment or garnishment, or the fifing of any lien, against any property ot any Obligor; (g) the taking oi ~ ~ posseuion oi any wbstantial part o~ the prope~ty of any Obliyor at tAe instance of any gonernmental authority; (h) the dete~mination by the Bank thac a materi- ~ al adverse change has oocurred in the fi~ancial eondition of any Obligor from the co~ditions set forth in the most recent financial statement of wch Oblgw r heretofore furnished to the Bank, or from the condition o1 wth Obligor as heretotorc most recently disclosed to the Bank, or that any rvarranty, representation, ~ ce~tifiute Or statement oi any Obligor lwhether tontained in this Note w not) pertaining to or in connection with this Note or the loan evideticed by this Note ~ concains an untrue statement ot material tact w omits to state materisl fact necessary in order to make the statemerts made not misteadirg; or, (i) the assign- ; ~ ment by any Maker oi any equity in s~y of the Collatera! without the prior written consent of the 8enk. { ~ ng ights, each of which may bs exercised at any time whether a not this Note is due: li) to ^ The Bank shal{ have, but shall not be limited to, ths fottowi r ~ plecfge or traroter this Note and tbe ~•otlateral and tM 8ank shall thereupon be relieved oi all dutia and rssponsibilities hereundQr and ralieved from any and all ~ ~ I iability with nspeCt to any Collsteral so pt~dg~d or transfetnd, snd any plctk,~ee or trens(eree sball for ~II purposes stand in the place of the 8snk hereunder and ~ have all the rqhts of tbe Bank hereunder; (ii) to transfK the whole or any psrt o( the Collateral into the name o~ itself or its nominee; (iii) to vote the Collatenl; # ~ 1~v) to notify the Oblqas of a~y Coilateral to make paym~~t to the Bank oi any amounu due or to become due thereon; (v) to derrwnd, we fa, collect, a ; make a~y comp?omise or ssttlement it dsems desirsble with referenee to the Collataal; and (vi) to take possession or control ot any p?oo~eds oi Collattral. ! u ~ *"8ANK" as use3 hc:rn~~ a~'rl~ F.aef Ass~~1~~~s Inc. ~ndl,F 1ts assigns. I ER IDE FOR IMPORTANT IN~ORMATION ~ FBS 752 Rev. 7/77 ~ .v r .1 _ " ' _ . . . _ ~ mx'~-~ ' • ~ ~h,~.'~`' ,~,~'~~-a~-y ~ ~.-.~s. 3 ~ y~~ :V,z~'~~.~~ . ~ - `~„`"1" _ ~ -