HomeMy WebLinkAbout0970 1 . • ~ /
~ . • ' - INSTALLMENT PROMISSORY NOTE f ~ •
~ti s
~URTIE,REEF ASSOCIATES, INC. * w,~,on~i a.~.~wa = 3874.63 f
6ANK NAME ~ei ~~m ea Gb~` none
Jensen Beach, Florida 33457 u~•ia~.w~~ev s
~ci o~,~,~ur s~ : none
OFFICE AOORE . (D) OMM CM~qM (itNni2~) s none
none ,
Sept. 11 78 . = none ~ ,
NOTE NO. ~ ~ OATED: . i9-~ (f) t _
Sept. 21 ,19 88 .~c~ B cfo
E
i s 3874.63
DuE: - ~~.5
1H1 Int~r~tt :
PIACE: . FLORIDA l1) Cndit inv~itigiuon i
lJl OtMr i
Fo~ valw rrt~~wd. tM u~dersqn~d (hKNn~ttN cs~Nd "MakN") jointly a~d s~vtrslly (i( (K) S
more tMn oMl Womis~ co paY to t~pr~~t yy~ Ba+lc, at ia oifiq ti~t~d abov~, tM?o 11 :
of PaY~nts (trom INl at riqAt) of O .[U pptlWt paYsbN in 12~
51. 21 , tM tint ~MI FINANCE CHARO~ 22]0. rj]
eqwl monthly insnllm~nts of f 7~ - tH, 1. J, K, L) S
~ns~Ntrn~n~ dw on ~Ct. 21 ,/9JSe... aid wbs~4wn[ iosrallme~a dw on (N? Totsf of Paym~np (G + MI S ,
tM 21 d~y of iacA~th thsnatter_to~ttM_w:M s FINAL BALIOON PAYMENT OF: ANNUAL PERCENTAGE RATE 1O.QO X
_ (IQfI DUE .19~ ,
The Bank sMll impoa ~ dNi~ncy char~ ap~inst tM IN~ka on amr psYm~nt which A~t b~can~ dw a~d nmsiro in d~bult fo~ s p~riod i~ txaa of 10
dsys in sn amoum equal to S~fi of tM urww+t of tM p?incipal psit of tM psrm~nt in d~fault. In th~~w~nt that th~ Nob is ~ot paid in tu11 at msturity, all pay
ments, wMthN principal. int~rat or otherwi», shMl b~sr intKSSt at tM maximum lepsl iat~ ~Ifow~d undaf t1~e Isws of tM State of ftorida. All paYm~nts md~
hereuncN~ fh~ll b~ u~diud tint to intttest and tMn to lxintipsl. however, in Me evMt oi debult, th~ BsN~ msy~ in its sol~ disCration. apply sny ph/ment M
mtsres~. princip~l snd/a tawful charg~s th~n serwd. It a tM intsntion ot tAe parti~s Mreto that tM Provisions Aerein s~utl not provide dinctly or iodirectly
~or th~ psymN+t ot a 9reate. nt~ of intaat o? tM rot~Mion ot aMr othtr charqs tha~ is sltowed bY law. lt, tor any rpso~, intenst in exuu of wch Ipd rate or
a cAs~ge prohibited bY ~aw sha~~ at any time bt psid, sMl such expss shNl either constitute snd be treat~d as a psyment o~ th~ principal or 6~ rtfundaf directly
to tAe MakRr.
17~e Msk~r m~y prepay tM mtir~ unpsid babnce af the loan st sny 1ime. If the toan is pr~psid in full, sccelented a nf ir?anced. the N4ker shsll ncs~v~ •
refund oi the unesrnad portion oi tha ~nteres[ and i~wrance premiums car~puted bY tAe Rul~•of 78's mathod, exospt that cM_ Bsnk s!?sll b~ entitl~d to .~uin
a rnmimum iottr~st cMsrye of ~.00. ~
CREOIT IIFE AND CREUlT LIFE ~ DISABILITY IIVSURANCE ARE VOLUNTAHY ANO NOT REQUIREO FOR CREDIT. Such inwrsnceeownye is
avaitsble st 1M cost des~grwted helow fw tAe cerm of ths asdit: (s) t for Gsdit Life Inwrsnea (b) S
for Crsdit life ~ Daa~ility Insurtaoe_ ~ - .
Check ? Gtdit lite tiuu~anc~ is desirad on tM Gte of
q~ 8i~chdau
Box ? Credit life ~ Ois~bility Inwrante is desired on
8~rthdats
. ~ Cr~dit Lile a~d/o~ Oisability Inwrsnc~ is not desired.
Date: S~'pt. 11 s 1478 Signaturo L~-~~-~- ~X~..~J.er~ I
rd Zel~lner ~
,
Sg~ature n ~
As security for tM paymsnt of t~?e Note the Msker hereby 9rants to the 8ank a secur~t
Ainteres~ in t~ dloewri proper n urt e ee
Cond. I, Recorded on 0. R. Book 263, Paqe 2002... Unit lieeks 28 and ~9 n Cond. D- , ~
A~tT No D-22 as described 1n said mertaaae
I ~ncludirg stl incnases, wbstitutions. nplsc~ments. additions and acoessio~a thereto and in the procteds thertof (her~insiter pil~d "Coilater~l"). This s~wnty
j ~nterest shsll alsO secun sny othn indebt~dnKS h cisbility oi the Maker to the 8a~k direct or i~dinct, absdute or contirg~nt, dw or to b~tant dw. now ex-.
! ~siing or herestter srisirg, intluding ati fuw.e advanns o~ los~s by the Bank to the Nl~ker. ~ ;
~ TA! BM?k is dso pivM a IiN~ and s s~turity interlst in sll proptrty and sewnties of t!N Miker, endoner, wrtty. 9u~?antor or sccannwdatan paty of this ±
~ Not~ (Mrtinsft~r r~(ur~d to ~s th~ "Oblgcrs"1, now in w at any iime henstur comirg into d~e oontrd, cuscody or poss~ssion of ~ht BsM~. wMthu /a da ~x- ~
~ p,es~d p~rpo~ ot p~;rq uud py ths 8snk as Collstasl. a fa sny othe. purpos~, and upon smr balsna or balsnc~s to tht aedit of ~Y ~ocounts. includiny
trust and ~ptneY sctounts te~intainad withtht Bsnk by s~ry of the Oblipors, anif the Obligors ~rN to dNiver to tM Bsnk additional Colladrsl o? mNce wch
paymtnts in redtittion of tIK principal smount of tht loin as shall bt sacis(a6sory to the Bsnk, in tMe avant the ~fo~ementio~ed Coltatsrsl shsU d~clir?~ in vNue ~
or bltortN urtsatitf~CtOry to tht 8ank. . ~
~ Additions to, r~duccions a txcfianpes of, or wMtitutio~s for the Co11a[enl, psyments on axount of this Ioan or inc.esqs of the s~m~, or otA~. lo~ra mad~ i
par~islly a nAwlly upo~ ttK CaltaterN, rt+sy trom ~im~ to rims b~ nuds wiil?o~t affecting the provisions of this Note. The 8ank shall extrc~s~ rwwnsbN csr~ in
~ ~he custody snd prNerwtion oi the Collatenl to th~ ~xt~nt requirod by applicsbte ststuta, aad shsll be dNrtNd to hav~ ~x~reiqd nssoarbh un ii tt Wca ach ~
act~on tor t11st pwpON as iM~k1t fAsll r~uontbly rpwtt in vKitirg, but no omissio~ to do anlr sct not nqu~sad by Msbr shMl be dMm~d a lailun w~xacise i
reasonaW~ cart, and no omiaioi~ to comply with sny nqwst ot MskK sMll oi itsdi be d»msd s isi{un to ~xacis~ reasonabb csre. BN+k shall not be ~ound ~o f
take sny stps MoKfary to pr~ve r+y ~yhts in tA~ Collater~l sp~inst prior pa~ties snd Mak~r sAsll tske all necessuy steps iw suth pu~poit~. Th~ B~nk or its 3
nomin~ r+~d not eoibct int~r~st on, w a printipsl of, snl/ Cotlaural or piw any notiee with re~tt to it. j-
TM 8ank m~y continw to hold arry Colltt~rsl d~po~ibd henunde? afte~ the psyment of thit Nott, if st ths timt of tM psyment snd diachary~ M~w~ anY of
ch~ psrtip Iiabb fw th~ p~ymMt Mnof ~all b~ tMn dinctly or oontinqenW liable to tha B~nk ss M~Icar, endorsar. wr~ty, quarsntor a saommod~tion ps.ty `
of any oc~w nbt~. dra(t, bilt ot ~xd?an~. or odNr i~trums+~t, w otMrwise, and dr 8ank m~y tM.~ait~r ~xKCife a11 ripl+ts with rpp~ct to ssid Colls~aal 1
grantrd fisrtin Mn thaqh Mis Nofi ~ha11 hiM bMn swrMdtnd to tM IN~1cK. ~
It cM Bsnk dMms itsdt insscuro a upon tfie ~app~ninq of sny of the foftowirgrevants, ~soh ot whicA shaH constitutt a drfwlt, all liabiliti~s o~ ~ach Msker to
tne Bank, includirq th~ N?tin unp~id principd of this Nou and aocru~d ina~at, las snY un~xn~d inter~st and a~y int~~tt in tzasu of ths rn~xirtwm sllow~d ,
bv Isw snd in1? nbrt~s rp4ind bY law, sh~tl inrr~~diat~iY or tl~ersdw, at t!w option of dN Bsnlc, ~xppt thst tM oocurr~no~ oi (c) a(d! fh~lt cww autamst- . i
~ K aca~stioa:wiMout notia or d~nw+d, b~c~arndw and psy~bN: lal th~ failun of sny Obliypr w pafwm any obli~tion, li~bility w d~im to 1M Bank, to p~y !
~ntenst hKwn withM 10d~ys sR~r it it dw. or ii dNrt a no du~ dau, aftN it is bilbd or o~ht~vviw rp~watsd or dKr~nd~d, or ta psy sny othrr liability whst- ~
~ soever to th~ ~aMc wfNn due: (b) tM dqd~ d amr individual Oblqw, th~ diadution d any patner~hip Oblipo? a d~e diaolution. ~r a oontolid~tion with- ~
~ out cl?~ BMk's priot vKitUn cons~nt of ~ny to~porst~ Oblipor, {c) tM fiing of ~ p~titio~ in bankrupUCy or tM adjudiAtron of insohrancy o? bsnkruptty undrt.~; ~
~ a~y rprp~nisation. Mr~rgNmnt, rNdjustrrMnt of d~bt. dino~utiOn, liquidrtion or- iwnibr procNdinp utdN M~Y F~al o~ ~tat~ statuu. bY a~~ ~^X. :
~Wqor: (d) an ~ppliatioo fa th~ appantmrnt oi a r~o~iva fqr, or tM mNcinp ot s y~nsnl ~ipnnwnt fa th~ b~n~fit of cnditors by. ~ny OWi~or, ld tM ~nW ~ !
~ o} iudpeNnt a~iett anY Obli~or: tf) tM iswinp of MMI fKathnw~t ot p~tni~hm~nt. w tht filirq of sny li~n, p~i~t ~nY P~~Y of sny OWpor:19) tM takag o~ ;
oosshsia~ of sny ~tial p~t of tM prop~rty of any Oblqor ~t tM inuria of any yov~rnm~nW wthaitY: (h) tM A~t~rmin~tion by Mt 6~nk tiut ~ nwta~• ~
~ ai adrs~tt tha~~ h~t occwnd in tlN firt~neiN oondition of anY Obli~o~ from tM conditions set (otth in th~ mott npnt tinaneiM siat~nt of web Ob~Mo~ ~
nc~eeofa~ furni~Md eo th~ Ba~k, or f~om th~ ea+dlcion of wel~ Oblipor a~ hu~tofore most nantly d'ndowd to ~h~ Bank, a that any vwranri, rpr~nation.
cer~itiua a satsnrnt M~ny Oblqor (wMtMr oonainrd in Ma Noa w notl P~inirq to a in oonn~etion witb chis Noa or tM 1wn ~vid~nad tha Ntoa !
~o~uirn an umrw aann+n~t ot nwariN bct or omia_~o aaa msta~al r~ec ~r in act~. to m~ke ch~ nac~m: m~d~ not mat~di~p: a, (il tM ~i~rr
mem by any MNw a amt wu+tv M~1? cr tM Collaaral without t!w Prior vKitan eoiaN?t ot tM Bink. • _
TM 8ank fiall hav~, but tlNll not b~ limit~d to. d~. fdlowi~p ~gha, lad~ 04 wlticfi m~y b~ sxl~ciMd ~t ~ny tirrN wi~tM* w not thif Noa ~i dw: (i1 to
plsdp~ a trMNfM this NoU ~nd tM Collaqr~l ~nd dN BM~It ~MII tM~u~x~n M rtlil~rrd ot all dutMs ind rapontibilitiN MnundK ~nd rNi~wd frOr11 ~nY and a11 ~
tcsbil~ty with *apct to s~qr Colbwai ~o pMdp~d o? uan~Nrnd. and ~nY PMdYN w trsraf~rM shall fo~ MI purpoMS sw~d in ths ptaa of tM Bank I~~und~r u~d I
tw~re NI tM rphts o1 th~ 8ank lru~u~: (ii) to trsn~N tM whoN or u~y part of th~ Collat~nl ietto tM nartr at iwtt or its non+irnt: iiil) to vab tM Cotl~teral:
~r u y
tiv) to notitY eM Oblipo~s oi+eY Colbtwal to m~k~~aym~nt to dN B~nlc of any amounts dw or m b~carN d~w cMnwn: (vl to d~rn~nd. ~w for, oolNet. o~ !
~k~ ~ O0~'~N
c~ as
u
ec~ ~iere~n
m~eans u'~r~e~Ree~~ssoc'~a~es; ~n~.~an~/or°°~`~s °ass~n°s`~. `O' ;
~ . - - . . •
NOTICE: SEE OTHER SIOE fOR IMPORTANT INFORMATION Q~ 2g5 a r~~r~
FBS T52 Rev. T/TT ~J~u~ ,~y ~
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