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Home My WebLink About0938 i . INSTALLMENT PROMISSORY NOTE „ , Turtl ~ Ree~ naeoci atea ~ Ina. * (A1 Amount Raceived s 6 a 7~"~ .~?0 ~ BANK NAME (B) Premium lor Credrt lit0/Disability Ini. s t10l1Q P~O~ :~WC b1~3~ Janaen Sd?dCh~ Fl• ~3457 (C) OocumentaryStamps S AOAe OFFICE AODRESS . (O) Othe~ Char~s (itemi2e) s QDIIB lEl S ~IIO NOTE NO. UATED: Sept. 19 19 78• (F) S nOBQ t~UE: ~ OCt 1. , t9 88, (G) Amount Finanted 6.'04 IA, B, C, D, E, Fl S 0 ~H~ ~~~e?a~ s 975. PLACE: , FLORIDA (1) Credit Invest~gation S 110A~ o~n.. s nona For value received, tne undersgned Ihere~nafter called "Maker") lointly and serenlfy (it (K) S Q~O more than o~e) promise to pay to th•e order ot the Bank, at its otf~ce listed above, the Totsl Z10t10 of Payments (lrom (N) at right)St r71~ 626 ~ OO Oollars payable in 120 S lM1 FINANCE CHARGE eciual monthly installme~Ss ot S~; • , the first 3 9?6 ~~ld 1'IOY. IH, I, J. K, ll S ~nstatlment due o~ , 19_, and wbsequent installments due on (N) Total of Peyments IG + M) ~ne lday ot each month thereatter, together witA a FINAI. BAILOON PAYMENT OF: ANNUAL PERCENTAGE RATE ~ 96 g DO!!~ ~UE N~~MM1~~~~~~~~~~~~, 19 ~ .The Bank shall impose a deli~quency charge against the Maker on any payme~t which has become due and remains ~n default fw a period in excess oi 10 days in an artwu~t equal to 59(~ of the amount of the printipal part of the payment in detault. In the event that the Note is not paid in tull at matu?ity, all pay- mencs, whether principal, interest or otherwise, shall bear interest at the maxirrwm legal rate allowed u~der the Iaws o~ the State ot Flored~. All payments made ne~eut?der shall be credited tirst to interest and then to principal, however, in th8 event of defautt, the Bank rnay, in its sole distretion, apply any payment to ,ncerest, prir?cipal and/o? lawful charges then accrued. It is the in[ention of che parties hereto that the provisions herein shall not provide directly or indirectly for the payment of a greater rate of interest or the retention oi any other charge than is allowed by Iaw. If, for any reason, interest in exceu of wch legal rate or a cnarge prohibited by law shall at any time be paid, any suth excess shall either co~stitute a~d be treated as a payment on [he prinCipal or be refunded direCtly !o the Maker. The Maker may prepay the entire unpa~d balance ot the loan at any time. If the loan ~s p~epa~d m tull, accele~ated w refinanced, the Maker s~all receive a . ~efund o( the unearned portion of the interest and inwrance premiums computed by the Ru~e of 78's method, except that the Bank shall be enutled to retain a m~nirtWm interest charge of ~'1.00. CREOIT IIFE AND CREOIT LIFE d~ DISABILITY INSURANCE ARE VOLUNTARY AND rlOT RE~UIRED FOR CREDIT. Such tnsurancetoverage is ava~iatrle at the cost designated below for the term ot the credit: (a) S tor Credit Life Inwrance (b) S !or Credit Life ~ Disebility InwranCec - Check ? Credit Lite ~nwrance is desired on the life oi ' ApPI. BirthdatE Box ? Credit Life & Disab~l~ty Inwrante is desired o~ - _Birthdat ~Q Credit Lite and/or Disability Inwrante is not desired. ` Sept. 19, 1978 s;9~t~,e % Cate. . ~ ~ ~ /~3.4~ Signatureji. - u nt___L~_ As security for the pay nt of the Note the Maker her y rant to the Bank a urit interest i the tollowing propert : IA ~lr~e R~~ Cond. 1 reoor~lecl on O.R. Hoot~ic ~26~ P~ae ~00~, Uu~t we~cs 16~1 a Cond. D-1 .~n . o. 1 as ~acrioocf n sa ~ortyaqe. i ~ndudmg all increases, substitutions, replacements, additions and accessions thereto and in the.proceeds thereot (hereinafter called "Collateral"1. This security ~ ~nce~est shall also secure any other indebtedness or liability of the Maker to the Bank direct or indirect, absolute or contiryent, due or to become due, now ex- ~ ~st~ng or hereafter arising, including all future advances o~ lOa~s by the Ba~k to the Maker. The Bank is alio given a lien and a security ~ntereSt ~n all property and Seturities oi the Maker, endorser, surety, guarantor o~ atcommodetio~ party of tAis Nofe (hereinaiter re(erred to as the "Oblgors"1, now in or at any time hereafter comirg into the control, custody or posseu~on of the Bank, whether for the ex- s~~esseci purpose ot being used by the Bank as Collateral, or Iw any oiher purpose, and upon any balance or balances to the credit of any xcounts, inctudirg ~ ~•ust and agency accounts maintamed withthe Bank by any of the Obligors, and the Obligors agree to de~ive. to the Bank additional Collateral or make such c>ayments in reduction of the principal amount oi the loan as shall be satis(actory to the Bank, in the evenf the aforementioned Collateral shaN decline in value ~ <<~ become unsatisfactory to the Bank. Additions to, reductions or exchanges of, or substitutions for the Collateral, payments on actount of this loan or increases ot the sart?e, or other loans made ~ pa~ ~~ally a whol~y upon the Collateral, may from time to t~me be made without affecting the provisions of this Note. The 8ank shall exercise reasonable care in the custody and preservation of the Collaterat to the extent required by app~icable statute, and shall be deemed to have exercised reasonable care it it takes such act~on tor that purpose as Maker shall reasonably request in writin9, but no omission to do any act not requested by Maker shall be deemed a tailure to exercise . ~easonable care, and no om~ssion to comply with a~y request of Maker shall oi itself be deemed a failure to exercise reasonable care. Bank shall not be bound to t~~e any steps necessary to preserve any rlghts in the Collateral egainst prior parties and Maker thall take all necessary steps for wch purposes. The Ba~k or its o;,m~nee need not collect interest on, or a pr~ncipal oi, any Collateral o? give any notice with respect to it. The Bank may continue to hold any Collateral deposited hereunde~ aiter the payment of this Note, if at the time of the payment and discharge hereof any of tne parties liable for the payment hereot shall be then directly or co~tingently liable to the Bank as Maker, endorser, surety, guarantor or atcommodation party - of any other note, drait, bill of exchange, or othe~ instrument, or otherwise, and the Bank may thereafter exercise alf rights with respect to said Collateral g~anted herein even though this Note shall have been wrrendered to the Maker. ~ ~ If the Bank deems itself msecure w upon the happe~ing of any of the lollowing events, each oi which shall constitute a detault, all liabilit~es of exh Maker to tne Bank, includirg the ent~re unpaid prixipal of this Note and actrued interest, t~ss any unearned interest and any interett in excess of ihe maximum allowed ~ by law and any rebata required by iaw, shall imrt~ediately or therea(ter, at the optio~ of the Bank, except that the occurrence oi (c) or (d} shall cause automat- ~c acceleration;w~thout notice w demand, becomedue and payabte: (a) tt~e failure ot any Obtigor to perform any obligation, liability or claim to the Bank, to pay ~ ~nte.est hereon within lOdays after it is due, or if there is no due date, atter it is billed or otherwise requated.or demanded, or to pay any other liability what- ~ soever to the Ba~k when due; (bl the death o( any individusl Obligor, the dissolutibn oi any partnership Obligor or the dissolution, merger or co~wlidation with- ouc [he Bank's priw rwitten consent of any corporate OWigor; (c) the filirg of a petition in bankruptcy o~ the adjudication oi insolvency a bankruptcy under ~ any reorganization, arrangement, readjustrtient of debt, diuolution, liquidation or similar proteeding under any Federal w state statute, by w against any ~ Obl~gor; (d) an application for the appoin[rt~ent of a receiver for, o~ the making of a gene~al assignrtisnt for the benefit of creditors by, any Obligor;le) the entry of ~udgment agairat any Obligor; (f) the iswing of any attachmeM or garnishment, or the filing oi any lie~, against any property of any Obligor; (g) the taking oi ~ possession of a~y wbsta~ual part of the property of any Obtgw at the instance oi any governmental authority; Ih) the deterrrmina[ion by [he Bank that a ma[e~i- ~ at adverse charge has occurred in the financwl conditio~ of a~y Oblgw from the conditions set forth in ihe most recent finanual sta[ement of wch Obligor ~ he~etoforc furnished to the Baok, or from the condition oi wch Obligor as heretofore most recently disdosed to the Bank, o. that any warranty, representation, ~ cer~~ficate or statement of any Obligor (whether contained in this Note or not) pertainirg to or in con~ection anth this Note o. the Ioa~ evidenced by ihis Note r.~niair?s an untrue statement of material fact or omits to state material fact necessary in order to make the statements made not misleading; or, (i) tAe assign- ' r*+~n[ by a~y Maker of any equity in any of the Collateral witbout the prior written conse~t of the Bank_ ~ The Bank shall have, but shall not be limited to, the fol~owing rights, esch oi which may be exercised at any time wMether w. not this Note is due: (i) to ~ p!edge o~ trsnsfe? this Note and the Collateral and [he Bank shall thereupo~ be relieved ot all dutias a~d responsibifities hereunder and relisved (rom anY a~d all i ~ability with respect to any Collateral w pledged or t~ansferred, and sny pledgee w tr~?sferee shall for all purposes scand in the plsce of the Bank hereunde~ and have alt the rights of the Bank hereunder; (ii) to trarufer the whole or any part oi the Collateral into the nsme bi itself or its ~omines; (iii) to vote tlro Collateral; ~ 1iv1 to ratify the Obligors of a~y Collsu~al to make payment to the Bank oi a~y amounts due or to become dw thereo~; (v) to demand, we for, collect, w A make a~y,compromise w settlement it deems desirable with reterence to the Collateral; and (vi) to take possession w contrd oi any proceeds of Collateral. *Bankas~ uaad h~~ia ntr.ne Turtle Reet ~?asoe~ At~e inc. rnd/er ite aeeiRr.~. w + ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION i~~x~~ ~~i ~ i FBS 752 Rev. 7/77