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Home My WebLink About0239 ~ INSTALLMENT PROMISSORY NOTE ~ ~ I ; TURTLE REEF ASSOCIATES, INC. * ~eu AmouM R~iwd s 4,04~-Q~ ~ BANK NAME (81 Pr~mium fo~ Cr~dit none Jensen Beach, Florida 33457 ~+~'~Oisb`~~"' _ ~c~ ~«~,~»~?~.ry s~.~~ s none OFFICE A~DRESS (0) OthK Cha~p~s (itNn~s~) s none ~e~ : none . - i NOTE NO. DATEO: AU9. 22 1978 s none i (G) Amount Finsnc~d ~ ~ f Sept. 1 83 iA. B, c, o. E, Fi s 4,040.00 ouE." , is~. ~ IHI Inqra~ t~ s PLACE: . FlOR1pA (ll Cr~d`t Invatlgatioe S ~ ~ U) Otl+~ ~ Fw wlw nce~ved, the unders~9ned (Mrainsit~r ulled "Mskei jointly and severally (it (K) s more tM~ oM) p~om~se to piy to the order oi tM 8~nk, st i~t ottlc~ listed above, the Total ~ o~ Psyrrwnts (from (N) st right) of ~S ~ollsrs paysble in _yx_ s IMI FINANCE CHAROE 1 111.00 equsl monthly instsUrt?ents ol S ~5 - . ~he first IH, I, J. K. U~ S ~ ~nstallment due on ~Ct. 1 , tg78, snd wbsequent installments dua o~ (N) Totsl of Paym~~ts (O + MI S-~~~_ ehe lstdsy o1 ~h Ilnonih thereafter_to~sth~r v~th a F~NA~ Bn~~OON P~4vMEN7 oF: ANNUAI PERCENTA~E RATE ' % ne - - - - S DUE ,19 Th~ Bank shsll impose a delinqwncY chsrge s9sin~t the Msk~r o~ aoy payrrnnt which h~s becom~ du~ sed r~malns In d~t~ult iw a pstiad in exo~ts of'10 ' i days in a~ amount epual to S~fr ot the smount ot the principsPput of the payment in deisult. lo tha ~vent that th~ Mob It nOt p~id ie full ~t rt~tu(ity~ all pay-1 i me~u, whather principal, interest or otherwit~, shall bear interest tba msximum leg~l r~te s11wMd unds? the lavw of th~ Stat~ of FIa1d~. AN paym~nn m~de ~ he.eunder shsll be credited first to interest and then to principsl, howev~r, in tM ~vent ot datsult, the Bank msyr in itf wl~ discrttion, apply anY psymen4 to t ~n?erest, principal snd/o. lawful cAarges then sccruod. It is tM intention of the parties hereto Met the provisions herein fhall not provid~ dir~Ctly or i~iirectly ~ for the payment of a greater tate of int~rest or the retention o( e~Y other chsrgs thsn if allowed by law. If,1w sny rNton, ~nt~r~~t in ~raa of weh tyd r~te or a charge prohibited by law shsll at any time be paid, any suth excess shsll either tonstitute snd b! trested ~t s payrtNnt On th~ prirulpal ot b~ retund~d di~ectly 4 ~o the Maker. - ~ The Maker may prepay the entire unpa~d balance of the losn at any time. li the (oa~ is prepald In full, acceleratad or r~~lr+anced, the AA~ker lheli rsceive s re~und ot the unearned port~o~ of the ~nterest and inwrance p~em~ums computed by the Rule ot 78'a m~thod, excspt thst tha Baok shall be entitl~d to r~tain ; a m~n~mum interest charge of 56.00. ' ~ CREUIT LIFE. AND CREOIT LIFE & DISABILITY INSURANCE ARE i/CLUNTARY AND NOT RE~UIHEb FOR CREOIt. Suth inwr~nce covKSye is ; avaJabk at the eost dssignated below to? the term ot the credit: (s) S for C?edit lite Inwra~ee (b) S 3 ror Gedit Lile & Oisability Inwrance: ~ ( Check ? C~~dit Life Insurance is des~red on the lite of _ ~ q~~, Blrihdab < ~ Box ' ? C?edit L~ie d~ OisebilitV Insurante is des~red on Birthdate ~ U Credit Life and/o~ O~sabili~y Inwrarrce is not desired _ ~ Aug. ~2,1978 ~ i Date' S~9nature ~ 0 orz ~ S~gnature ! ~ As secu.ity for tAe paymenf of the Noce the Maker hereby grants to the Bank e security interest in the foll i pr ~r 1 TuCt~ Q I~ef~~n~ I~ ~ rwrnrclPd i nOQ R Book 263, Page 2002 . Uni t 1~eek 34 i n Cond. D-~ ,~p~. ~o • as esc ~ ~ ~ : ! ~ncludmg aU irtcreases, substitu~ions, replscemen~s,.addiuons and acceu~ons thereto and in the proceeds thereot (hersinaiter cailed "Collsterel"1. Thn acuriq . ~ ~ mterest shall slso secure any other indebtedness or liability o~ the Maker to the Bank direct or induect, absolutt or continpent, due w to baom~ dw, now ~x- ; f ~s[~ng or 1~ereai[e. a«sing, includirtg all tuture advstxes w ~oans by the Bank to tAe Msker. s ~ The Bank is slw g~ven a I~en and a securi~v mterast in sll p~oper[y a~ secur~ties of the Maker, e~dorser, sur~ty, gu~rsntor o~ aCtommodatiOn party of lh~s ~ ~ Noie (hereinafter r~terred to as the "Obl?qo~s"1, now in or at any time hereaicer coming into the control, cu:tody or poss~u~on o( the Ba~k, wAethe. fw the ez- i I preued purpose of bein9 used by the 8ank as Collateral, or for any otha purpose, and upon a~N balanee or bslances to the uadit of ~ny ~oeounts, inetuding ; I trust and apenel/ accounts main[ained withthe 8ank by any oi the Obtiqors, and the Obligon sgree to deliver to the Bsnk addit~onsl Collattrsl a mske wch 's ~ payments in reduetion o~ the p.incipsl amount of the toan as shall be satisfactory to the Bank, in the event the aforemsncio~ed Collateral shall declir» in value + or become unsatisiactory co the Bank. i ~ Additions to, r~ductions or excha~?yss of, w wbttitutio~s (or the Collateral, payments on account oi this loan w incresses ot th~ wms, or other losns madt ; ~ parcially w wholly upon ths Collateral, may from time to time be rtisde without affecting the provisions of this Note. The Ba~k shalt exeruse r~asonsbl~ cafe i~ ; r the cuitody snd prsservation ot the Collstersl to the ~xtent required bV ePP~~~e statute, ar~d shall be dsemM to haw ~x~rcis~d nasonsble ure if it tika s~cA ! ~ act~on fw thst purpose as Maker shatl reasonsbly rpue~t in vy.~t~ng, but no omission to do any aet ~ot requatsd by Mak~r thdl be dwmrd ~ bilur~ to ~xaust ~easonsbl~ art, snd no omiuiore to comply with sny requet~ ot Maker shall of itsell be deemed a failure to sxercis~ reasonable care. Bank shall ~o~ Oe bound ~0 4 ? cake any steps necessary to preserve any riyht: in the Collaterel against prior partia and Msker shsll take all necess~ry steps fo? wch purposet. Tf~ B~nk o. ~~s ~ ~ nomi~ee need not collect i~t~rest on. or s pri~cipal ot, any Coilateral or qive any notiee with respect to it. ~ The Bank may continue to hold sny Colbt~rsl dpwsited hereuoder atter the payment oi Mis Note, if at the time of the psyment and d~sehu~e ~~reof any of ~ ~h~ psrtia liable for the pwment hereof shall b~ thN? dirxtly or contin9ently Iisble co the Bank as Msker, andorser, wnty, gusrantw w ~ocommodst~on pa•ty i ~ of any othe~ note, dratt, b~ll of exchanpt, or otha instrurtfent, o? otherwise, and the Ba~k may thereafter exsrcise a11 riphts with re~ct to ssid Collate.al 1 grsntad herein even though this Nou shaU haw buri wrrendered~to the Mak~?. ` ' If tt~e Bank deems itself insecun or upw+ the hsppenirp of any of the followiny events, esch of which shall constitute a d~t~ult, all liabilitia of ~scA Msktr to i s che Bank, inctudin9 the entire unpaid principal oi this Nots and accrued ineerat, {ess any un~a~nsd intanst snd a~y ~nt~rat in ~xwss of tM msximum ~tlow~d s by law snd any r~bstes rpui~ed by law, shall irtwrndistety or Meresite?, at the option of the Bank, txce~t thst the oecurrtnee of k) w(d) thall tsw~ autqmat- ' ~ i ~ K acceteratron; without notip ar dsm~d, b~oom~ dw ~nd palrable: the failure of a~y Oblgor to perform any oWiyrtion, liability or d~im to ths Bank, to psy a ; ~nterett Mreon within 10days after it is dw, w if NNrs is no due dste, atter it is bitled w oMerwite requested or dlmsnded, w to p~Y any othK li~bility whst• ~ soever to the Ba~k when dut; Ib) tM d~ath of any individusl Obli~or, tFte dimolution of any psnnership Obligtx-or tIN dissdution, m~?yt~ a ~onsol~tion with• s _ out.tM Bank's prio? vwitan consent of sny capw~t~ ~blpw: (c) ths filirg of s petitio~ in bsnkruptcy a the adjudiution o( insolwncy a ba~kruptcy ur~ i bl - any rwry~ni:ation, ar?w~ement, rudjustmtnt of cMbt, dissolution, liquidstion or similar prowedinp under any F~dtrsl w st~te st~tut~, by or aq~inst anY f, Obl~gor; (d) sn sppliqtion fw the ~ppointrt~snt of s receiwr fw, ot the mski~p of s gene.al ss~ignment for th~ b~nefit oi cr~ditas by, any Oblipw; tM ~ntry ~ oi iud~rntnt aysirut amr Obliyor; (f) tla iswinq of any ~asehm~nt w 9srnifhment, or th~ fllinp of any lien. ~painst any propertY of anY Oblpor: (9) tl+~ akirp ot ~ ~ possession of any wbstu~tiil p~rt of tM prop~rty ot am? Oblgor ~t tM imtance of any pov~rnm~ntal ~uthority; (h) tM d~nrnnination b~l tht BsNc that ~ rn~ari• - al adv~rst chsr?pe hu octurr~d in the financial tondition of sny Oblgor from the cond'+[ioos set iwth in th~ mott nqnt finantial sutlrrMnt of w~ch OWgor ~ hereiofa~ furnish~d to th~ Bsnk, or from ih~ tonditfon of aecf+ Oblipor a~ Mrttofore most ncently disdof~d to the B~n1c, w that a~y ws.r~nty, rpr~nqtion, ~ - certifitst~ a tt~t~mMt of sny Oblipor (wl?~thN contsin~d in [hb Not~ o~ not) peruininp to a in eonrnction with this Nob or th~ losn widenpd by thi~ Not~ conu~r?s an untrw tt~tern~nt oi mstuial ~aet w omiu to stste mst~ri~l tact n~cess~ry in ad~r to rtwke tM stattm~nts rtud~ rtot malNdiep; a, (i) tM ~MiOn- i ment by ~ny IM~k~r ol any puity in any ot tM Collat~rsl without th~ prior written consent ol tM 8ank. ' ~ j ~ Th~ Bank ~hsll hav~, but shsll not W limit~d to, tM ~ollowinp rght:, ~sch of whieh m~y bt ex~rcis~d at any tim~ whethtr or not Mis Not~ ia dw: ii) to ~ ~ pl~dp~ w tramf~r thh Non ~nd tl» Collaanl and th~ Bank shall tMr~upon b~ rNi~wd oi all dutia and rupon:ibilit~e~ Mrwnd~r and rNwwd from a~y ~nd all ~ liability with ntpat to sny Co1latKd to pf~dp~d or tnnsf~rnd, snd ~ny pbdp~e a t.sntf~?N thall Ior ~II purpo~a stand in tM pl~a oi tM 8ank hK~undK and ~ ~ have sll tM riqhq of th~ Bank Mrw~; (ii) to trantiM th~ whole or sny pxc of ths Collatnal into th~ nam~ of ics~lt w its nanin»: (ili) to ron th~ Collater~l: ~ U (~v) to notify th~ Oblipat oi ~ny Collsural to m~k~ psym~nt to th~ Bank oi any amounts dJs or to b~ du~ tiNnon; (v) to dN~rnd, rw fw, coil~et, a ~ mske any com~ a Q? ~ttlam~nt it rsW~ wiM f~r to th~ I t~.sl; s vi) to • possasi a of iny procNd~ of CoI1~t~ra1. , *'B~NK' as used ~er~e~n means '~ur~e Ree~~ssoc~a~es;~`~`nc. an~/or`~~s assigns. ~ ~~~4 ~ : . NOTICE: SEE OTHER SIUE FOR IMPORTANT INFORNIATION 600K PA~ ~ - FBS 7S? R~v. 7/77 - - - i = ~ ~ _ - - - ~ ' ~ - - r r - r . ~ ~ _ z 4- y~ w. . ~ . . s i . ~ ~ . F . . .g; .~~-`o- :r .:~'af_;.~-~...~..x'~,.._~^~.:. . . . ~ . . ~ ~ ,