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Home My WebLink About0930 ~ , . - i ; . ~ ~ INSTALLMENT PROMISSORY NOTE J' j ' ~ • TURTLE REEF ASSOCIATES, INC. * (A) Amoum R~iwd a 6-~lQ.OA 9ANK NAME (8) PrNnium (ot Cr~dlt none Jensen 6each, Florida 33457 ~+f•ia~+~~~v ~M. s - ~c~ o«~~,«+~.ry s~.~ s none OFFICE ~~RE55 (0) Othp Charq~s (iami:f) s none none Sept. 20, 79 +E~ _ NOTE NO. DATEO: . 19.._. (F) s none ~ ~ ~Ct. (G) Artwunt Fir?~ntad 6~1~.~ ~UE: 1 , ~g ~ IA. 8. C. D. E. FI s (H) Interat i ~ • _ PIACE: . FIORIDA (1) G~dit In~ttip~tion IJI OtMr = ~ Fo~ w~w r~ce~vsd. !M untNrsiyn~d (1+Ktin~it~r c~fl~d "Msker") lointly snd swerslly Iit IK) _ mort thsn ont) Womise to psY to the ordK oi tM Bank; at ia otfiq listed abow, th~ Toal 01 Paym~nts (trom (Nl at rightl of ~9.674.4~ Dollan psyabl~ in _~Q IL) _ eQua~ month~y i~uaumN+ts ot t , tM t~nt ~M? F~NANCE CHAROE 3 574.4 NOV . IH, t, .1. K. LI t ~nsalyn~ t dut on . 18____. and wMpwnt insul~menq dw oe (N) Total of P~vments t0 + M) i._ ~ • the IS~ of ~pwnth thtr~sftN to~tM_w~th. FiNn~ en~~ooN PnvMENT oF: ANNUAL PERCENTAOE qAtE ' ~X s e OUE - - -.19 TM eank ~Rd1 impo~ a dNinquency ch~.gt ~psinst tM M~kK oe anv. paYm~ot whkh hst b~corn~ dw ~nd nmalm In d~lsult !a s p~rlod In exqu of 10 ~ days i~ an amount equsl to ~76 0~ tM .rraun~ ot ~he p.incipsi pa.~ oi eM wyment ~n detsuit. th~ went th~t tiN Nob Is not p~id in full ~t maturlty, all pay ments, whathN principsl, int~r~st a othe~wi~e, shsll bar interat at tha maxlmum leyd ~aa allow~d urdp th~.law~ o~ tM 8tet~ oi Flwlda. All paym~nn msd~ herlWfdlr fhill b~ C~ldit~d (irft t0 itft~rKt ind tMn t0 prinCipil, how~ver, in th~ evKtt of delault, the 8ank ms1~ in tn:ol. discneton, apply any MYmint to ~neerest, p?incipsl sndlor lawful charges th~n accru~d. It a 1M intention of the psrf~es herato that the provitions Mr~in sh~ll not provkM dinctly or indinctly tor the psyme++t of a greater nte of i~terat or the r~tention ot sny•other chsrge ther+ b allowsd by law. 11, iw any r~ston, Int~rest in ~xqa of such (pd nce or a charye prohibit~d by 1aw shsll at any time be psid, sny wch ~xoess thdl either constituts sed b~ tnatsd ~s a WY~~t on th~ prlnelpd or b~ rsfunci~d dinctty ~ to the Msket. ~ ~ The 11A~k~r may prepay tM entir~ unpaid balanee ot the (oan st eny time. If the loe~ is prMpald In lull, scceler~tsd a re~lnanced, the Maker shsl! r~ceiw a_ ~efund ot the unes~ned po~tio~ of the interest and insuronce premiums computed bY tM Rule of 78's method, eYCept that th~ Bs~k shsll b~ entitl~d to rsiain ' a m~nimum intlrlft Charge Ot ' CRE~IT LIFE ANO CREb1T IIFE m OISABILITY INSURANCE ARE VOI.UNTAFiY AN~ NOT REQUIREO POq CREDIt. Such insuranee cow~age is available at tha eost deslgnated betow to~ the term of the credit: (s) s for Credlt Ufe Inwr~nce Ibl S tor Cr~dit li~e 8 Disabitity Inwrsrite: ~ ~ Check ? Gedit Lite Insurance is desired on the life of i qpp~. ~irthd~ta ' Box ? Gedit Liie 8 Disability Insurance is desired on Birthdate ~ Credit tile and/or Disabiliry Inwrancs is not desired. ~ ~ate: S@pt.20. 1978 s~y~at~~e ~ tG~ . , :t ~~u.Pi~/ , : ruce eave Si9nature ~~,.~~v ra t~ p~vm.~t o~ tn. No~e tne ~k~. n~..bv ~o t~. s~~k a~~~~ri ~~~e?~~ tn~ rou~,~~ Q~or~rv: I n Turtl e Reef Cond . I~ recarded i n 0 R Bnok 26~ Psge 2~D? un~, weelcc 43 ~nd 44 i n Cnnri _ n_9(1 _ Ant N~ n_2n 1 I mdudirg all intr~ases, wbstitutions, r~plsetments, itiorn and attessions thereto aod in the proceeds thereot iheninsfte~ call~d "Coli~t~rN"l. ThK f~curity ~ ~ mterest shsll also s~cure any othe~ irwlebtWntss or lisbility of the Maker to the Bank di.ect or indirect, absdute or contirgsnt, due or ~o bscan~ due, naw ~x- i ~ ~s[ing or h~raft~r srising, including atl futu~e advanca or losns by the Bank to the Msker. ~ i T1+e Bank is slso givan a Iie~ and s security i~tersst in a~l property and secunues of the ~ker, endoner, wr~ty, guKSntor or sccommodation p~rq oi ihn E Note (hKeinstte. referred to ~s the "Oblqas'1, now in o~ at s~+y cime hereafte~ comirg into Me contrd, a,stody or pouesswn oi th~ 8ank, whethe. fa Me ex- ~ press~d purpos~ oi b~irq used Oy tM Bank as Collata~, or for anY other purpcne, and upon any bslsnce or balsnc~s to th~ uedit of any socounn, inctuding ~ trust ~nd sptnty soCOUnts rnai~tsin~d withthe Bsnk b-y sny oi tlx Obliyors, and the Obligon sprse to dNiver to the Bank sdditional Co1lat~ral or m~ke such i ~ payments in reduction ot ch~ principst amou~t of the loen as shsll be sstistactory to the Bank, in the event the aforertwntioned Collattrsl shsll d~clin~.in vslue ~ on c~corr~s unsatittattory to tIN 8snk. . ~ Additio~s to, nductions w exch~nqes of, or wbstitutions /or the Collateral, paYments on sccount of this losn or inuesses of the sarrw, or othtr losns mad~ partislly oi wholly upon the Collstenl, msy irom time to time be rt~etfe-witl?out atfecting the provisions of this Note. The 8~nk shalt exerase r~ssa+abl~ tan in ~ rhe custody and premvstion of tM Collateral to the ext~nt rcquired by.applipble statute, and shsll be dNnNd to hav~ exNCisd nato~abb un il it tsk~s wc~ action fw thit purpose as Msk~r fhall reaso~~sWy t~qultt in writing, but no omission to do a~y sct r+ot nquaud by Mak~~ shall bs d~ert»d a tailur~ io ~x~ruse ; ~easa+abl~ csn, ~nd no omission to comply with a~y nquest o( Maker shalt ot itseli be d~emed a failur~ to exercis~ r~esonabb car~. Bank sha11 not be bound eo take sny :teps n~nsfary to prtserw ~ny rpha in tM Collatsral apsinst prior pa~ties and Mskar shall take all neces~ary st~ps tor wcl? purposes. The Bank or ~~s ; nomiMe r~d not coll~ct intenst on, o? a prineipil oi, any Collsteral or give any nociCe wieh respeCC to it. Tht 8ank msy conti~ue to hold ~mr CollstaN d~posiqd hereunder sfta the payment ot this Note, if at the time oi tM payment md diieharqe Mr~of any of ~ sM psni~s liable fo. th~ p~yrtrnc herwf d~Nl b~ tlNn dir~ctly or contirgently lisble to the 8snk ~s Maker, endo.ier, wr~tY, yuarantor or aocommod+uon ps~ty ~ of sny otM? not~, dratt, b~ll ot ~xe~anp~, or otMr in~trume?t, or otherwise, and the Bsnk rn~y th~resfter exNCise all riyhts with rs~ct to faid Collsttnl ~ g~anNd herein iwn thouQh this Not~ ~hsll havr bN~ ~urr~ntf~red to ths NbkK. If tM B~~k d~ertu italf in~ecuro or upon the h~pp~nMp of any of ths followinp evtnts, ach of which shall eot?stitut~ s d~fault, all liabiliti~s of s~ch Msk~r to ~ tne Bank, includinp the ~ntin unpsid prineipsl of thif Nott ~nd sccrued inttr~st, less sny uMarned intsrat and ~ny int~~ft in ezdsi oi th~ maximum altow~tf ~ by !aw snd any r~bstes rpuired by law, ~hall imn~diatslY or thK~aftf?, ~t the optbn of the Bank, sxcept that th~ occurrence ot 4e) or (dl ~hall cwa autom~t- ~ ~c xalaacan: wiMout nocio~ a d~rnwd, b~conw dw ~nd pstrabtr. the i~ilure of uty Ob1~Dr to p~rform any oblip~tion..li~bility or daim to tM B~nR, to p~y ~ ~ ~nce.at hKeon wiMin.lOdsy~ aitK it i: dw, w if dars a no due dat~, afn. it is bill~d w otherwia requeaed or demanded, a co p~y anlr othK liability what- § soeva to tht Bank wfNn dur, (bl th~ dath of sny ind'widuM Oblyw, tM d'arolution of any partnerd~ip Oblipa a tM dissolutbn, m~rpt~ or oonsolid~tio~ with• ; ~ out tIN 8ank's ptio? writt~n cot~ant of any ewpona Ob:ipor; (c) tfN filinp ot a p~tition in bankruptcy or th~ adjudiution oi iniohNncy or b~nknJpuy und~r t ~ any .eo?qsr?iution, Hr~wnt, radJustrn~nt of d~bt, distqlution, liquidrtion or similar proc~sdinp under ~ny F~ral or state lutut~, by w sy~inst anY ~ ~ Oblgo?; Id) sn applic~tFon ia tM appoinfm~nt of ~ nwiv~ ta, a tM nrkinp of a psnsnl as{pnm~nt fw th~ b~fit of cnditors by, smr Ob11qo~; (~i tM ~ntry ~ of ~~nt prirKt ~ny Qblipor: tt) tht ipufnp ot any ~tt~ehm~nt or ys~ni~nant, a tM filinp oi any li~n, a~iinf any p~oputY of amr Oblqor: ly) tM akirg ot ~ posseaio~ of aW wMt~ntial psrt of cM propKty of any Oblpor at tM imisnw oi ~ny qov~rmMntal ~uthwity: (h) ths d~t~rmin~tion by tM 8ank tMt ~ m~ari. ~ a1 adv~rp d+arp~ h~t octurr~d in tht finMicial eondition of any OblgOr from tM ~onditfo~u Mt forth in tM rtw~t nant tin~nciaf stat~m~nt ol tud+ Ob1ip? heretota~ furni~h~d to th~ 8snk, or fran tM eondition of wdi Obliqo? a~ heretofon most r~nntty disdoMd to the Bank, a tlut ~ny vwranhr, r~pr~nation. ce?tiiicst~ a~tat~m~nt of My Obli~or (wh~thM eonbin~d in this Not~ a not) p~.tslninq to o~ ie oonn~ction with ~hk Noh a tlu losn wid~nad br Mi~ Noa conuirn sn untrw sUt~nt of m~tKi~t f~ct w omitt to tut~ rrwt~rtd fact n~easry in ordK to rtake th~ statsnwnts.md~ not malwdi~p: a, (i) tM N~ipn- meo~ by any IuMIcN ot any aquity in sny of tM Collat~r~l witAout tM prior written eo~nt oi tlw 8ank. ~ ~ Th~ Bank shall haw, but ~hsll not b~ iimit~d to. tM iollowinp ~gha. ~aeh ot whieh rn~y b~ ~~ciad ~t +ny tim~ wRNthK or not this Noe~ i~ dw: (i) to } pl~dp~ a uam/K thb Noq ad tM ColbtKS1 ~nd tfN Bank ~MII th~reupon b~ rNbwtl of N1 dutiN ad rppont~ilitiN Mnutda and rNbwd hom ~r and MI i u~billty wlth rMp~cK to anY Coil~t~ral ~o pl~dq~d or banttM~d, ard N+Y pl«lp~~ o? transf~ dull for ~It purEw~n tt~nd in the Plap of th~ Bank h~rwed~? uid ~ hsv~ all tM ~i~hb of th~ 8a~k hKwndtr: lii) to tnmb? tM whob a any put of the Collata~l into th~ nsmt of i ~ri n«ninM: (i1i) to voa thr CollattrN: (iv) to ratif~r tM Oblqa~ oi any Co11~tKa1 to m~k~ p~?m~nt w th~ B~nk ot sny ~moun dw w w bkan~ ~~t~~fv) to d~nand: ~w fa. eolhct, a msk~ ~ny ea~ ~ wttMmN+t t rsDb with fK to eh~ t w vi) to • a ol of ~r ocMCN of Collat~?al. ~ B~~lK as use~ ~er~`e~n means -'~ur~'e Ree~ ~ss~ a~es ,`~`n~°` a°rr/orCO~~s ass i gns . , FBS 752 Rrv. 7I~7 ~nCE: SEE OTHER SIOE FOR IMVORTANT INFORMATION ~~R~~.rW , ~ - - _ - . -F ~3:,Y - - - - - _ ~ a~ a~" '"a`'"~'n r z ~ ~,:~u~,