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INSTALLMENT PROMISSORY NOTE
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TURTLE REEF ASSOCIATES, INC. * +a ~~+w?~~a~.+wd r: ~'920'~
~?NK NAMe ~e~ ~a c..d~~ none
Jensen Beach, Florida 33457 u~'~D1i~~"~ =~one
tc) tlocum~nurr guma =
OFFICE AOGRESS (p) C~~„„ : none =
tE~ s none
NOTE NO. ' DATE~: AI(gl~~+ g, ,~g-T8 tF? nOne
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(GI Amount Flnanud ~ 920.
AU9USt Z~ .~g~$ IA, 8, C, D, E, F) t •
^~?F•
- - ~ IHI Int~tt i ~ ~ : ~ - ~ - ~ -
PLACE: . FlOR1DA U) Cndit Invatip~tion
• ' IJ? OthK i
For valu~ r~~wd. tM undKSyeNd (l?KHryttK c~INd "Maker") lointiy snd s~ve~slly (il (KI =
mor~ tlue on~) P?~s~ to psY to tM ordK oi th~ B~nk, at iK otfic~ litad abovs. the Toql ~
ot ?aym~na Nrom INl at rightl ot _ S9. . SQ Dollus p~Y~btt io ~Q..._ tll =
evuat month~y insunm~m: ot t ~8.24 ,,the lint ~MI FINANCE CHAqOE 3,4~.80 ,
IH, I, J. K. L) _ ~
~nstNl~n~t
}dw on Sept. Z1 , 19 .~nd wbfeqwrlt intUllmentf dw on (N) ToW of PWmtna (0 + M) : ~ •
iM ~Iniyol~p~onthtMrNfter=tn~etM:withaFlNAlBALLOONPAYMENTOF: ANNUALPERCENTAO~HATE ~O.OO x ~
s ~w~~ pUE ~
TFa Bank ~11 impo~. a d.i~nqwney cn.ry~ s~nn N+. M.k.r a+ .nv wr~e whid+ ha baam dw and nmelro In d~fwi~ for ~ piriod in ~xaa of 10 ~
dsy~ ~n •n •moum evusi to S~X. of tM air+ount oi tM princfpal psrt o~ tM p~yrmnt in dtht111. In tM wMt tiNt th! Not~ i~ nbt pdd ie fUll ~t n+an,rtty, atl p,y
rrrnn, wh~th~? prinelpsl. IntKat or othtrwfw. sha~l bar Ihtsryt at th~ niaxinwm ly~l r~b aibw~d und~r th~ INw oi tM atrb of Florid~. All pwm~nq m~ -
hereunder shsll b~ cndiad fint to intKpt snd thM to printipsl, howrw?, +n tM ~wnt oi d~fault, th~ Wnk+~Vj io Its wb dbrntbn, ~pply +u~Y pavm~nc ~o ~
~n~aest, printipN snd/w Isw1u1 tharg~s t1~M ~cc~wd. It is th~ Int~ntion of th~ p~rtiu Mnto th~t th~ provl~iorb M~~Id ~ull not {aovkM dlnctty w indirectly
to. ci~ psYmN+t ot a 9r~enr rst~ of int~rat or tiw retantia~+ oi ~n~ oti+~r si~atgi ii~us K ~iiowsd toyr isw. if. iw srs~ rrr~on. iai~~t ia i.c~ u4 ~#s~i rst~ ~ i
a char9t prohibit~d bY ~sw sha~l st sny tirrM b~ psid. •ny weh ~xo~ss ~hal~ ~ieM. eon~tltua and b trl~t~d N a p~ynNht on th~ prlnelp~l W!~ tRfu+xLd dinetly ~
to tl~ M~kN.
th~ tibk~r nuy pi~piy th~ ~ntln unWW b~una o} ths Iwn si enY t~me. H Ih~ Iwh N pr~ld In tull, ~b.~trd o? wllnrne~d. tlu N4k~r ~11 naiw a ~
refund of tht u~MHrMd pOrtion Of thf inter~st snd inwrana premiums cortiputad by th~ Rui~ of ~8's m~thod, ~xqpt th~t tM Bank thN~ b~ Mtlti~d lo r~uin ~
a minimum intN~st thsrgt ot 1; ~
CREDIt LIFE AND CREOIT IIfE 3 OtSABILITY iNSURANCE ARE VOLUN1AItY AND NOT RE~UIREb FOR CiiEO1T. Such inNJranw cow?ape is ~
avsilsble st th~ cost dlsiqnsted below for th~ term of th~ uedlt: W! ta G~dit U(~ Inwrux~ Ib) ! j
tor Cr~dit LiE~ ~ Diaability Inwrance: - ~ ~
Check ? Gedit lit~ Insuranc~ is dair~d on tM lit~ of ~i
qpp~, ~Irthdab !
8ox 0 Credit Life d Disab+litY ~~sunntt is daired on ~
. }
Bkthd~te
~ Cr~dit li(t anil/or Oisability Inwrant~ it not desired. f
pa~e: AUQUSt 8, 1918 siy~+atu~e • ~ ~
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Siynatun ' #
ra ~„R»~t o+ tn. Not. ~n. M.k~ ~~.b„ ~.~~ts ~o ~n. e~~k ~~u~a~ ~n~ ra~~~~ p?oo.~ri: In Turtl e Reef Cond . I,~
rpcorded iond 9, q~ Untt Yeeks 43 a~d 44 in Cond. D-14. Apt. No. D-14 as ;
,I t
~ mc~uding at1 incr~sa. wbstiwcions. ?pbc~m~nn, bditlOfK ifld iCCBtSi0flf thQrQtO afld if1 th! p?OC!!dt thNlO/ (hfhiMitK C~II~d "Coltsbral"1. This ~++rity ?
` ~nterest shall slso secure any other ind~badrna a liability ol the Maker to tAs Bank db~ct or indir~ct, absdua or contirp~nt, dw a to b~con» dw, naw.~x- j
E ~stinq w Mrqtter srising, intludiny all lutu~~ sdvanns o? loms by the Bank to the Msker.
` TM B+nk. is also yiv~n s lien and a security intertst in slt praperty snd securitits oi the Maker, endont~, wr~ty, yuvsntw or xcomrt+o0stion p~tty of thia ;
Not~ IhK~in~fta rtt~rnd to ~s tM "Obligori'1, now in or st snY tirn~ I+ersslter cominp i~to the control, p?ttody oc poss~ss~on oi th~ B~nk, wMth~ fw tM ~x- t
pressed purpost of beirq u~ed by tM 8snk s~ Co1latKSt. w fw sny ather purpos~. snd upon sny balanu w bdsnop to tM v~dit of ~ny ~otounu. includirg i
; trust and s~~ey secounu msinuinad withtlw Bsnk by any of the Oblipors, and the Obligo.s spr~ to dNiwr to tM 8ank addition~l CollatKal w m~ke wd~ f
payrn~nu in nduction ot tfi~ principsl smount of tM losn ~ slwll De s~tisfattwy to the Bank, in the Mnt the aforerrrntan~d Co1laUrd ahall d~clin~ in vslue j
or betprtr uefatishttOry to tM Bsnk. . j
Additions to, r~ductions w exehsnpes ot, or subttitutions fw tM Collsttrsl, psymtnts on sccount of this losn a incrssres of tht am~, or oth~. loans mad~ j
aartiMly a wholly upon th~ Coll~tenl, m~y from tim~ to tirrr be rnsds without sifecting d+e provisions of tha Not~. TfN B~nk ihall ~nerc+s~ r~sonsbN can ~n 1
~ ~ne custody and p~~vation ot tM Collaterd to th~ ~xunt rpuind by applicsWe ststua, and p+al~ b~ dNrtwd to hav~ ~xaciwd r~son~bh an i~ it tskh wc~ ~
acc~on fa that purpoa as Msk~r ~hall reswr?~WY rpuat in w?itiny, but no omission to do u~y aet not nqu~snd by N4ks~ ~hall b~ dMm~d ~ 1a8un ~o t~cn~
rNfWHbI~ qn, ~nd no omission to co+nply with any rpwst of MskK ~11 ot itsrlt b~ ds~msd s fsilun to ~z~rci~ n~sonabl~ csre. Bank ~hs11 oot b~ bou~d to
take airyl ~tp~ Mo~sNry to pr~ any rghq in tM Coll~tsral ap~iMt priw psrtiet and M~k~? sh~ll tsk~ ~II ned~saty ftpt for wth purpoMt. Th~ 8ank or its ~
nomin~a nMd not coll~et inMrqt on, w s pritKipd of, anY Cotlat~rsl w giw ~ny notiat with re~Ct to it. t
Th~ Bank msy tontinut to Aold any Co11aWd d~posit~d h~rwndM sfter tM psyment of this Nota, if st the tirtN oi th~ paymtnt snd di~d~sry~ Mr~of any of ~
ih~ p~rti~s Ii~bN fw ~M p~ym~nt Aenof ~hNl b~ tlwn dir~etly a continpsntly lisble to tM B~rdc ss Mslcer. endonrr, wr~ty. 9uaranta or ~ocommod~tion ps?iv s
of ~ny otha not~, dr~it, bill ot ~xehu~p~, w otMr irocruma+t, w otMrwis~, and tM Bsnk rtay tfipqit~r. ~xKCi~ dl ri~u with rNp~ct to s~id Collatersl i
gra~qd M~sin w~n ehoupb this Noa s~ll hw~ bNn ~un~nel~hd to th~ M~kK. . 4
If tM 8ank d~trM it~lf ~nNCUrt or upon tM h~pp~nlnp of ~ny Of t1N (ollowinp w~ntf, ach of whieh shNl coratitut~ ~ tMfwlt, all liabilitia of peh Msks~ co ~
ihe 8aek, includirq tM ~ntin unpaid prineip~l ot thu Not~ ~nd a~cru~d int~rest, Mu any unprrnd in1K~tt ard sny intarqt in ~xda of th~ rraximum sfforwd t
~ by Iaw and any rab~ts ?puind bY Iaw. s!?NI imnN~ii~t~ly or Mandc~r, it th~ option of th~ Banlc. ~xapt that che oawnna oi tc10. ld} ~hatl ewa automat- ;
K accs4rstion: without notia ~r d~rtwid, brearN dw u~d psyaW~: tM /~Uun of ~y ObliOw to.puiam ~nY oblfp~tbn. II~Wlity or d~im to tIN Bank, to p~y i
mttrqt h~rwn within ~OdtYS ~ftN it i~ dW. or if th~r~ a no dw d~t~. ~ftp it is bill~d or othKwiw rpwst~d a dem~nd~d. or to ptY a~y othK lisbility what- j
a soevsr to tM B~nk wMn dw: (b) tM dath of any individual Oblqa. tM d'usofution of ~n110~?~~~iRObii~or or tht diaolution. mK~ w oontolid~tion witA- ~
out tFN Bank's pria writtM cora~nt of any torporaU Oblipor, (e1 th~ filltg of ~ p~Hdon in bN?kruptcy ot th~ ad~udiqtipn ot irqolrafcy a bMkn~ptey unOK ~
~ any r~wp~niz~tion, arra~nt, ~MdjufvrNnt o1 d~bt, diMdution, liquid.tion a ~imiur proc«dinp undu sny F.d~.~l w saa n~cut~, b1?.o? ap~inst snY r
Oblpw: (d) ~n ~pplication ta t1+t ~ppointrn~nt M~ r~o~hw? fpr. a th~ rrwkt~y ot a p~n~rd ~ipnnNnt fw th~ btmfic of u~ditorf by. snlr Oblfpa: b! tM ~ntry i
~
~ ot ~udqn»nt aq~imt ~ny Obliqor ft) t!N ifwinp Of N~y att~mMt o? y~rn~luMnt, ot tIN tilino of ~np li~n, p~ir~t uhl proprrty of sny Oblpor: l') tAt qkino of. i
~ posses~ion ot anY wbsuntial p~?t of tM proputy ot any Obli~or at th~ iiutana oi any pov~rnm~ntN wthaity: (h1 tM d~qrmirntion b~? tM 8~nlc tMt ~ n»sui- i
at sdv~rt~ ehanp~ hu oowrr~d in tM financiN tonditiw~ ot M~Y Obli00? fran t!w ea~ditioM Mt iorth in tIN molt r~qnt fimnCiM ~tatlm~nt oi weh Ob1po~ i
~ her~tofa~ fumi~h~d to th~ 6ank, w from tM eadltion of wd~ Obltpor r Iw~tota~ mat na++tiy diido»d to the 8ank. a thac any vwnantv. ~
ce.titiesn or tqt~nt of ~ny Oblqa (wMth~? ~tdmd in thb Not~ or not) PKtalnlnp to or in oonn~etbn with thk No1~ or th~ lasn ~vid~nad btr ehu Noa
~ co~uirK an untrw ~tanm~nt of rn~t~i~l laet p omit~ to stat~ m~urial fact n~e~y in wdrr to rtatu tfi~ stat~nwntt rnd~ not miNMdiep: o?, (il tM aMiorr i
ment by any M~kN of ~n1? ~quity in sny M tM ColbtKal without th~ prior written tawntbf tht Bank. ~
TM Bmk ~MII Mv~, but dwlt not b~ limitd to, th~ idtoMrinp ri~ha, pd~ ot wAicb mry b~ ~x~rciad at ~mr tim~ wh~th~r or not thb Nw~ a dw:.li) to
~ .
pl~dp~ or tr~f~r tAir Not~ ~nd th~ Co11s~uN ~nd tM 6M~Ic IhNI tlwnup~oe b~ rNNwd of MI elutlN ~rd r~l0~~litNt hKruedK and nU~wd tran snY and all
~ IfabiNty witF~ ?NP«.K to ~hy Co11~tMSl. a pbd~d a v~ahrnd, ~nd ~~1? d~~ o? tniKl~rM ~11 fo? dl purpo~ ~tand in tM plaa of th~ d~nk MrwrW~r ~nd
haw aN tM ri0htf o~ tht dank hM~un~Mr; ltl) to tr~ewf~? tM whoN a~ny pnt of tM Coll~ter~l lnto tM n~nr of italf w ia nonstn»; (ilil to wb th~ Cdl~arsl:
livl to notitll tM Oblpat of ~np to m~k~ P~1?mmt to tM B~nk of ~nY ~mouna dw w to b~oonM dw tMnon: (d to d~enrnd. ~w ta. eolNet. or
~ ~,.k. `~v «~~~N~(~ as~u~ hEre~n m"~eans u~
r~e~Re~e~jO~~ssocla~e~s; 1`n~° g11~~r~~s as~s'~ns~. ~~`m`~'
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NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION n p j
Fes ~sa a.~. ~i» ; .
i.~.-- BO f 27~ ~'.A~f 70~
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