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Home My WebLink About0954 t ~ . . . ~ ~ INSTAILMENT PROMISSORY NOTE , ~ . ~ ° 10,9b2.00 1 TURTLE REEF ASSOCIATES, INC. * (A) Amoum R~uiwd s ; 9ANK NAME ~e~ wN^~~m ia c.bi~ none ~ Jensen Beach, Florida 33457 ~~aia~.a~~~, s ! tc? ooa,~,+~u..v sc.m~ s none ~ OFFICE ADDRE55 (p) QthK Clur~s (itamis~) s none . ~ Sept. 22 78 « s none ~ NOTE NO. DATEO: , 19 . (F) s none ~ (G) Amouot Fin~nc~d 1~ ~ 96't,~ ~ ~ DUE: OCL. 1 . 19 ~ IA, 8, C, D, F. F) S ; ~ (N) IntK~st " i-6~~_ ( PIACE: . FLUFi1DA (1) G~dit Inv~st~gation ~ IJI Oth~r = ' Fa vsiw ntt~wd. th~ ur~ipnW (hN~in~iter uil~d "Mak~r") loint{y and swerally (il iK) = i mo~e thsn a») promise to psy to t~i~ o_ f 4M ~ank, st ia oifiq list~d ~bove, the ~o~l , of Paym~~ts (trom (N) at riqht) of s~~;•~~~ pplluspiYabl~ in l~ (L) S ! e4wi monen~y ~nsuum.o?s ot t 144.8~ , ~n~ ~,,,t ~M~ F~NANCE CHAR(iE 6 422.4~ ~ (H, 1. J. K. L) _ ~ 1 mstallma+t dw o~ NOV. 1 , 19 ~$~~d wbs~qwnt inswllmenn dw on (N) Toal of Payrrwnts (G + M) s~• i 1he lstdsy ot ~~wnin ih~rufce._to~ttMr wrth s FINAL BAILOON PAYMEN ~OF• ANNUAL PERCENTA(iE RATE • % s _ ~UF - _ _ - : ~9 . ~ i The Bank shall imposa a delinqwncY chaqe ap~i~ut cM Msk~? on ~ny psyment whrcA has bscortN du~ and romsins in d~4ult for ~ p~riod in ~xc~ss ot 10 ~ days ~n an amount pual to 5~fi of th~ smou~t of the principsl part of tM payment in dsfsult. In tM went tl+~t the Noq is nOt paid in full ~t m~turity, dl pay- me~~s, wheche. p~incipal. intenst o~ otherwis~, shsll b~sr int~.at at th~ msximum legsl ra[e sllowsd urber che laws of tt~ Sate ot Flo.ids. All paym~nq msde nereunder shall be c?edited tirst [o i~ter~st and tMn to prineipal, howwer, in ths evMt oi d~fault, tM 8ank may, i~ iri tol~ dist?~tion, apply any payment M ~ ~ncerest, principsl and/o. lawfu~ charges then accrwd. It a the i~tention of the psrties her~[o tAst the provisions he*ein shall not prpvid~ dinctly or indirectly for che psyme~t of a greater nt~ oi interest or the retention of anV other charge than is allowed by law. li, tor sny rsasoo, inttrest in excess of wch I~SI rate or ~ a cha~ye proh~bit~d by law shsil st any time b~ psid, s~y weh exuss shNl eicher cons[itute snd be treated ss t aayment on th~ principsl or be .efund~d directly ! ~o the Maker. ' The Maker may p~epsy the entire unpa~d balsnce of the Iwn at any time. li the Iw~ is prepsid in tull, accelersted or refinanced, the Msker shsll receivs a ~ refu~d of 1Ae untar~ed portipn of the i~terest and insuranCe prlmiumf COrtiputed by thR Ru1e oi 78's mRthod, extept that tAe 8iok shsll ba entitled to retain j a m~~irtwm interest charge ot s6.00. 1 CREOIT IIFE ANO CREDIT LIFE A DISABILITY INSURANCE ARE YOLUNTARY AND NOT REQUIREO FOR CREDIT. Sueh inwrance covetsge is ? ava~table at the cost des~gnated below iw the term of the aedit: (a) S tw G~dit Life Inwrance (b) S 1 , tor C,~~dit lite 8 ~isability Insursnte: ~ Check ? G~dit Li(e Insurance is desired on the life oi + Appl. ~ Birthdste ~ Box ? Gedit life d~ O+ssbility Insuranee is desired on { 8irthdate j L"J Gedit life and/or Oiiability Inwranee is not desired. ' . ~ Sept. 22, 1978 ~ - ' ~ ~ aate: Signature ~ <'-i. . i Allen Martin Buseman ; . Siy~wcure • . . . . . : _ i As security tor the payment of the Note the Msker henby gra~ts to the Bank a seturity interest in the tdtowing propt~ty: t Cond. I, Recorded on 0. R. 8ook 263. Page 2002... Unit Weeks 3 an n on 1 ' Apt. No. D=29 as described in said mortga4e. ~ ~ncludi~g all incr~ases, wbstitutions, replacements, sdditions and accessions thercto aod in the proteeds tAereof (Mr~inaftt~ cal~ed "CollsterN"l. This s~curity = ~ntera~ shatl also secure ar+y otfie. indebtedrNtt w lisbility of the-Mak~r to the 8ank d~rett or ind~ract, sbsolu[e or con~inpem, due or ~o bscome du~, now ~x- j f ~sung or I~eaR~? a~isir~g, including sll tuture sdvsnc~s or Iwns by the Bank to the Maker. ' f ~ TM 8ank q alw given 8 I~en and s s~turity mterKt in all property and seturrt~es of the Maker, etdorser, wrlty, gus?sntor o~ atcommocfation p~rty of th~s ~ ~ Note Ih~reinsfte? referrad to ss the "Obligoa"!, now in or st any time hereafter cominp ioto tAe eon[rd, tustody w poss~ssion of tb~ Bsnk, wheiha. tw d?~ tx- ; p.essad purpos~ of beiny used by the Ba~k ss Cotbtersl, a ta any other purpose, a~d upon any balsnce or balances to the aadit of a~y aoeaunts, includirq i ! trusc sed syency sccounts mfinqined withthe 8ank by u~y of the Oblipors, and the Obligors agr~e to deliwr to tht 8ank additioMl Collateral w make such ~ ~ paymenn in nduction ot the principal amount of ths loan as sAalt be sstisfx[ory to the Bank, in the event the aforem~ntion~d Collaterst shsll d~ctine in vslue ' or betome unfatiststtory to the Bank. ~ € Additions to, nductions w exchanpts of, or wbstitutions tor the Collste~al, paym~nts on secou~t of this Iwn or ine.ssses of tM ssm~, o? other losns mad~ ~ ~ partially or wholly upon the CollsterN, m~y from time to time be made.without atfecting the provisions of 4his Note. The Bsnk shall ezerus~ rNto~abl~ cxe in ; ~ne custody snd praerv~tion o( the Colt~tenl to tM sxtenc required by app~icsble sta~ute, a~d shsll be d~errnd to 1+av~ ~x~.cised rwson~bl~ un if it tak~s wch act~o~ iw thst purpoa ~s M~k~r shslt rWSOnaWy rpuat in writing, but ~o omission to do aey xt ~ot nquaqd by MakK shNl be dNm~d a lailun to ~xKCete ; reaso~sbl~ can, ~nd no omission to canply with any nquest of Maker ~Asll ot itsslf be dsemed s fsilun to ext~cis~ reafo~abl~ can. Ba~k shdl not be bou~d to ~ take sny ftps neas~sry to pnsNVt My ryhtt in th~ CollatsrN spsintt prior parlies and Mak~r shall tske all n~cessary steps fp? wch purpofes. TM Bank or its ~ nomirw~ ne~d ?wt colbct inarat on, a a principsl of, ~ny Collsttral or 9ive a~y notice with rnp~et to it. ~ Th~ 8ank msy continu~ to hold sny Co11atKN dposit~d herwnder aftn ths psyment of Mis Non, if at the time of the psyment snd dischug~ htrwf sny of ; tM puti~s liabb for th~ psym~nt htrwf ~hall bs thN~ directly a eontirg~ntly liabls to tM B~nk ss Msker, endone~, wr~ty, 9uuantor or saort~mod~tion party i of sny oth~. not~, dnft, b~ll oi ~xchsn~, w othM ieqtrums~c, w othKwise, s~d ths B~nk mry thKesfter exKCise sll riphn with re~ct to ssid Colls[as1 ~ ~ grant~d herein tv~n ihagh this Non shall havr bNn wrnndtnd to tM RMker. i If tl~ Bsnk d~tms itself inpcurt a upa+ the h~pptnirp of any of ths followiny avents, eadi of which shall constitut~ a d~fwlt, all liabiliti~s oi pch Msk~~ to ~ tne Bank, includinp the tnti~~ unpaid p~ineip~l of ihis Not~ and accru~d intsrat, l~ sny un~arned inqnst md sny iet~rat in ~xpa of tM maxi~wm a1low~d i by Isw s~d sny reb~ta r~quir~d by I~w, sh~ll inrr»distdy or th~r~stter, st the option ot th~ B~nk, excep[ thst Me oaur~ence ot (c) a(d1 d~dl caua a~icomat- ; ~c axeleration:without notip ordem~nd, b~cornrdw ~nd WyabM: (s) th~ failun of s~r Oblqor W pKfam a~y oblip~tan, liability w elaim to tM B~nk, to pry ~ x ~ntere~t M?ton within ~Odsy~ sfi~r it i~ dtN, or if thNt is no du~ dat~, ~fta it is billed or odterwi~t requ~st~d ot dNn~ntlsd, Or to p~y any otMt liability what- ~ soever to th~ Bank whM dw; (b) tM duth of any individual Oblgw, th~ dissolution of any partnership Obli9a or tM dissolution, mtrq~ or oonsolid~tion with-; ~ out cM Sank't prior +~itan conant of sny caponu Oblqa: (e) tM filirg of ~ p~tition in bsnkruptcy w the adjudication of inwlv~ney a b~nk.uptcy undN_ ' ~ any .eory~niution, Knnpxmnt, radjwtn»nt of d~bt. ditsolucion, liquidatioo w similu proce~linp under any F~de?N a sab tt~t+su, by or p~inst ~ny - ~ Ob~ya; (dl sn sppliation fw th~ appointnw~t of s naiw? for, or tM mskinp of s q~neal as~iynm~nt tor M~ b~nsfit of cnditon by, ary OWi9or; tM ~ntry a o~ ~udyrnent sy~in~t any Oblipor: Itl tM iswinp of any machmrnt a y~rnahrrw~t, w tbe tiliep of any li~n. p~imt any propwty of sny Obliyor: (y) tM tdcinq of : ~ ~ possa~ion of any wbstantial P~rt of tM PraO~?b ot any Oblpa at tM irotar~ of ~ny qov~rnnwnal wthority: fhl cM d~t~rmination br eh~ 8an4 en.t ~ m~~~- { r a~ adver~ d~snpt 1~ oteu?nd in th~ fin~ncisl co~ditian oi sny Oblpor from Mt conditiau stt fath in tM most r~qnt fin~ncial stauma~t of w~h Oblqor. f ~ ne~etofw~ furnalNd to tM 8ank, w trom tt~e condition of wd~ Oblqor st M?•tofon most nantly discloNd to the Bank, or th~t ~ny vran~ntY, rp~a~natia+, ~ certifiua w stac~m~nt of any Oblga (wh~cMr eontsirnd in ~ha Noq a nocl PKainirg co w in oonn~etio~ with ihis Noa a tM Iwn wid~nad br Ma Noa ~ ~ conqirK an untrw stat~nt o~ mstai~l fact or omip to stat~ rr~tKial f~ct n~ohary in ader to m~ke th~ sut~ts m~ not malMd"aq: a, (i) eM ~aisn- } ment by amr MNw oi snY puity in sny oi th~ Coll~m~f without tM priw w~itttn eaatnt of thr B~nk. ' ~ ~ TM B~nk ~h~ll h~vr, but dull eat. b~ Iimit~d to. th~ followinp rgAp. tach of whid+ m~y be ~xKCis~d at any tim~ wMthK of noc thn Noa n dw: (il to ~ ~ P~edp~ or trar~f~? thi! Not~ ~d tM CoII~tKSI and tlN Bank shap dwtupon b~ rNiiwd ot ~It duti~s u~d rhpor~ibilitiK Mrwrd~r and rNifwd hom anY snd MI ! Iiabitity with n~p~e.K to any CollatNal w pbdp~d or tnnsfared. ~nd any pbdy~~ a tr~r~f~.N tAMI fo~ sll purpoaa ttMid in tM plsot of tht BNdc Mrwnd~ atd ~ hsv~ atl tM riqhts o! tM Bu~k h~~ur~;lii) to Varut~? tfN whol~ or arty psrt of th~ Coll~bral into ~M ns~rr of italf w in rwminN; liii) to wt~ th~ Collaural; ~ 1 iv1 ~o notify tla Oblipon of any Co1qt~.s1 to m~k~ psym~m to du Bank of wW ~mouna dw or eo b~oon~e du~ [I~eoe: (r) to d~rtynd, w~ for, colNet, a ~ rrNk~ sny eom~ S1r ~ttNnrnt it ~ with f to tM taN: vi) to • a ol of sny oq~dt of Collaqral. ' *'~1NK' as used ~iere~n means ~ur~e Ree~~ssoc';a~es,~`~`n ,~an~'/or`~~s ass~ns. j € , ~ NOTICE: SEE OTHER SIDE FOA IMVORTANT INFORMATION ~M~ FBS ~52 R~v. 7/77 ~ , -----z---~ - - _ - . - _ . _ _ - - -•3~ ~•~•z . .y:-.'~=4 ^4~ A ~l < ~~6~'.>..'