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Home My WebLink About0978 z I * ~ ` ~ INSTAILMENT PROMISSORY NOTE ` , ~ , ~ ~ TURTLE REEF ASSOCIATES, INC. * ~ ~n~.~unoun~R.~.~wd s 7~,000.4~__ . 9ANK NAME (B~ PrNniuT fOr Ct~dll none Jensen Beach, Florida 33457 - ~~~•~Di"a~+`~' s IC) Oocuma~tarv Stamp~ t ~~ne OFFICE AODRESS (~I OthM CM~y~S (1tMtis~~ = none ~E~ = none~ ~ NOTE NO. DATED: Sept. 2~ ~g7$ , (F) s none~ ~ OCt. I HS . -?Gl Amount Financed ~~QQO. QQ ~ DUE: ,~g~ , (A, B, C. O, E, F) S IH) Inttrat i ' ~ PIACE: ~ . FLORIOA (11 G~dit Inwttiq~tion : ^ . ~ 1!1 OthK S Fo~ value r~tt~wd, the und~s~g~+ed (M~einaittr ulbd "Mske: jointly and s~v~crally tif - (K) _ mo~e tMn oM) Dromis~ to psy to the orda~ of th~ 8ank, st its otfio~ listed abovs, t 20Toul oi Psr~++•~n 11rom IN) at riyhtl ot il 102.4~ ~ poiars osvab~e 1~ _ cyw ~ r r w n t n h r i n: u l ~ m x+ t: o ~ S • . ~ M t~~ ~ IMI FINANCE CHAiiOE 4,102.40 ( H, I, . 1. K. U ' t ~ ~ns~sllm~nt dw on ~OV . 1 , 19~. a+d wbseqwnt insts{Ime~ts du~ on (N) Toul oi Paym~ntt ((i ; M) _ ~ the IS~tlay oi ~~onth tMnaft~ ta~etMr w_ch s FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAQE RATE 10. nA ~Xi S C ~UE - - 19 The Bs~k shall impo~i ~ dNinqu~ncy chargs apsintt tM Mak~? on ~mr psYm~nt whkh A~s b~com~ dw a+d nrtwlra in dt}~ult fw s palod In exce~ of 10 day: in sn amcunt squal to 5~(i of the amount of che priaipal part oi tM paymsnt in default. In tM tvent th~t th~ Nob h not p~id in fuU ~t maturi~y, sll pay- ~ menu, wheM~r p?incipsl, Interest or otherwifs, shill bar interest st the maximum leqsl raa sllorwd undK ths law~ of th~ 5t~t~ oi Flafd~. All paym~na md~ ne?eu~der shs11 bs credited tint to interest and then to principal, how~ver, in the wer?t of dafault, the Bank m~y~ in itt tol~ dixvetion, applY any payment to 1 ~nierest, principsl and/or lawiul charges then atcruld. It is the inta~tion ot the pariies her~to thst the provisionf f~Nein fhslt nOt prOVi~ di~~ttly or Indirletly ~ for ihe psymsnt ot a greste. nte of interest w the retention.of any other chsrge th;.n is allowed by law. II, lor snY reuon, int~r~st In ~xuif ot wch ty~l nt~ or a charge prohibited bY ~aw shatl at any t~me be paid. sny wch exuss shs11 e~the~ constituts uKf b~ trated a a p~yrr~nt on th~ prinelpsl or b~ tlfund~d dl~attly { i~ the Maker. ~ The Make~ may prepsy the entire unpaid balar+ee o1 the losn at sny time. If the losn b prepaid (n full, sceelerstad a rdlnanesd, th~ A14ke? shall r~ceiw a ~efund of the unsarned portion ot the ~~terest a~d inwronce premiums cort~puted by the Rute of 78's m~thod, except thst th! Bank shall b~ ent~tl~d to r~tsin ~ a mmimum inte~esf charye of CRE017 LiFE AND CREDIT LIFE m DISABILITY INSUpANCE ARE VOLUNTARY ANO NOT RE~UIREb FOq CREDIT. Such Inwrance covKa~e is ava~lsble at the cost designated below ior the term of the uedit: (a) t for Crsdlt Life Inwr~nce Ib1 s tor Credit li~e ~ ~isability InwraneE: i Check ? G~dit Life Insurance ~s des~red on the life of f Appl. - ~irthdat~ ~ ~ ~ Box ? Credit Li1e & Disability Insu+ance is tfesired on ~ 8irthdate ~ Gsdit L~te and/or Dissbility Inturance is not tlesired. _ . Date: S~Pt. 2~. 1978 Sig~ature l, ~ JO 1~1. Ch0 ~ ~ . ~ Si9nature ~ .f ~i' ~ ( - ~ i ! As securitx tw the payment of the Note the Maker hereby ants to the uri i si t~ r ri: In _Turtle Reef_Cond. - T recorded in OR. Book 263 P e 2002..Un~t week 1~ n Con~. an ~~`~ee n a d~; ~ ~ i'.ot~ Nos~ 0-12 ~and D-8 resgectivelv as descr e n sa r~ar gage. ~ i ~nclud~ng all incrsases, substitutions, replactrne~ts, sdditions and acceuioris thereto a~d in the proceeds thereot (herti~atter Celled "Collateral"1_ This s~curity i interatt st~slt aisp se[ur! any other indebtedMU or lisbility of the Msker to the Bsnk dir~ct o? i~dirott, absdute or continqeM, due or ~o b~com~ due, ~ow ~z• I f ~seirg oi he.atta srifing, including aU tuture advsnca o? loans by the B~nk to the Maker. ~ I The Bank a slto givtn a lien and s s~curity interest in all property and secur~ties ot the Miker, endor~er, wnty. guusntw or xtommcldstion p~rty of th~s i ~ Noea (hKein~ft~r reterreA to ss the "Obligors"1, now in of st any time hereafter comirg i~to the contrd, cuscody or posktsion ol the Bank, wMthe. for the ex- ~ press~d purpost ot beinp used by tM Bank ss Collstersl, or fw any other purpose, a~d upon aml bsl~nce or balancat to tM Ct~dit o~ ~nr ~otounts, includinp C r~us~ s~d sp~ncy accounts maint~ined withthe Bank by smr of the Obliyors, and the Obligors agr~e to deliver to iFK 8qnk additional Collat~nl or make wd? _ payments in rlduttion Of the priotipal smount of the loan as sAalt be satisfactory to the Bank, in the event the aforcmentioned Collateral shslf d~ctin~ in vs~ue ~ o~ become unsstist~ctory to the Bsnk. J Additian to, r~ductiont w e~cchsnpa of, w substitutions lor the Coltateral, paymertts o+~ account oi this loan or inuesses of ~he sanr, or otha loans mad~ ~ pa~tially or wlwtly upon the CollaterN, m~y from time to time be made without aitecting the provisions of thK Note. The 8snk sh~ll ~ztrc~s~ rpsonabit car~ in the tustody snd pnlt?v~tion o( the Collatera! to t1N txtent ~equired by applicsble statute, and shall be dNrtNd to hw~ ~zaCiied rwfot~~bl~ qn if it tilcfs wth ~ act~o~ for th~t putpw~.ss Msker shsll rqson~bly rqwtt in w?iting, but no omission to do sny act rat ~equ~st~d by Mak~~ shdl bt d~emd a lailun to ~zKCn~ reasonsbb an, and no omistion to comply with any nqu~st ot Nl~ker ~hsll oi itselt be d~em~d a tailure to sxKUSa rt~sonabl~ qre. Bank fhNl not be bound to take any stps nenfwry to presKVe any riyhq in the COllatKal egeinst prior parties and Maker shsll tike sll neutfary stps tw wCh purpotes. Th! BM~k Or ~ts ' romin~ nad not colleet interest on, o. ~ prineipsl oi, ~Mr Collateral or giw any notice witfi .eipact to it. ~ Th~ Bank msy continw to hold sny CotburN d~posited hereur~ after the paymsnt of Mis Not~, if at the time oi tM psyment and difchsryt M.~of any of ~ tM psrti~t lisbl~ tor the piynrnt Mreof shNl b~ th~n direCtly or contingently lisbh to tM Bsnk ss Nlaker, endwser, wr~ty, puaranta or aocommodation ps.ty ot any otM? note, draft, bill of ~xthsnye, w ot1~M instrumsnt, or otherwise, and the 8ank may thK~aftsr ex~.ciss all riphn witfi re~p~et [o taid Collste.al i gra~t~d herei~ aw~ thouph this Not~ ~hsll haw bNn wrnndersd to tM MalcN. ~ ~ If th~ Bank d~tms its~lf inMtun a upo~ the h~pp~niry of any of the fotlowing awnts, ~sd~ of which shsll oorotitut~ ~ d~fault; all liabilitia of pch iNsk~r tb~. f ine Bank, ineludinp th~ sntire unpsid prineipsi of thit Not~ snd accrusd inqrat. kss am? unwrned inMr~tt and sny int~r~t in ~xd~ of th~ maximum sllowrd r~ ~ b~ Iaw srd ~ny rebaea rpuirM by law, shsll irrrndl~tsly or tMresf W, at the option oi tM Bank, ~zdpt thst tM oocwr~nos of ~C1 or (d) tl~ll cw~t automat- K acule.stia+: witMout notioe a d~rtw~d, b~conr dw srd p~yaW~: 1~! the t~ilure ot aMr Oblipor to pKform aiW oblip~tia+.llability or daim to tM Bank, co p~y ~ ~ncerest Mreon within 10dsys afca it is dw,. w if thN~ is no dw dst~, ~fter it is billed w otF~uwne rpuast~d or dematd~d, w to p~y arry ot~r li~bility whst- ~ soever to th~ Bsnk wMn dw: (b) th~ dath of sny individwl Oblgor, the dis~o~ution of any putnsr~hq~ Oblqa a tM diaolution, rtwpK or oonsolid~tion with- ~ out tM Bank's pr'wr writta~ cont~nt of ury corpontt Obligor: (el ttN filinp of ~ qtition in b~nkruptcy or tM djudiutfo~ oi infolwncy a bankn~ptty undrr ~ any reory~ni=ation, art~nt, rpdjustm~nt of d~bt, distdution, liquid~tion w similsr procaedirg. undar anY F~N w sab ttstuu, by o? ap~inst an~? ~ Obigor: ~d) an application fa th~ appantm~nt of ~?~o~iN? fa, o~ th~ rrnkinp of a p~n~rst ss~ignmM+t for tM b~fit of cr~ditas by, anll Obti~a: cM ~ntR? oi ~udpenent ay~iiut ary Oblipor, (fl tM iswinp of ~ny att~chm~nt w~rnahma+t, w th~ filinp of ~ny lirn. aq~irot sny propKty ot sny Oblqa: (~1 tM nkay ot poss~ioe~ of any wbaantial psn of th~ proputy ot snY Obliqa at tM iiuanee of any ~~nR~ntal ~ud~aity: (h) tlu d~t~rmination by tM 8ank that ~ nrtai. ~ u ai adrars~ ehanp~ fw occwnd in t!N financid condition of iny Oblipor frwn the oonditans t~t fortfi in tM most r~ant firw~tial sa~nwnt ot-~yd~ Obfgo~ heretofo~~ furniM~~d to th~ Bsnk, o~ tran tht condition of wch Obltyor s~ heretofon most noa~tly difdowd to the B~nk, o~ that a+y wwrantY, np:~nqtton, cer~ifiut~ a stat~nMnt ot p~y Obfipo? IwMtlar conain~c! in thb Note w not) pertaieinp to w in eonnsction with thb Non o~ the loan wid~npd by Ma Noa contain~ an umn+~ ~UtMwnt of m~ttti~! faet or omiq to tbt~ mtnrial i~et mcafary in wde. to msk~ tht statMn~nu n~ not malwdiry: o~, (il tM a~ia+- ment by ~ny Ilblw of sny puity i~ sny Ot tM Co14tNa1 withaut th~ priw w?itten eon~et of tM 8ank. ~ Th~ Bank ~F?d) har~, but dwll not b~ timibd to. tM fdlowirq riqhu. ~~eh of which msy b~ ~x~reis~d ~t sny tim~ w1utM. w not this Noa a dw: li) to p1~dp~ o? tt~rol~r thi! Note ~nd tIM Co~latMN snd tM B~nfc ~lqll tMr~upa~ b~ r~INV~d of ill duti~t ~nd rMporitibilitiq INr~undN u~d rNi~wd hom ~ny snd all liabiltty with n~et to any Colbta~l w PNdY~d w traat~rnd. ~nd ~ny pbdpN w tran~IKN ~hdl tor ~II purpo~n st~nd IA tM pl~n of th~ sa~lc hKwnd~? a+d ~ hav~ alt tht rlqhq of tM 0~nk h~rwnd~?; (ill to tr~nsfM eh~ whol~ or ~ey pat of th~ CoU~tKal tnto dw nartr of iaelt w ia nomin»; (iiii to voa tlw Co1lat~rM: (iv) to ratify eM Oblipon of any CollatKal to mNc~ payrtMnt to i~ Bmlc of ~ny art~winu du~ a to b~eans dw thMnon; (r) to d~n+and, ~w tor, wlNct, o~ ~ ~ mak~ ~ny ca~ ~ttl~nt t m~ with co th~ wd; ~ vi) to • a o1 sny oa~d~ of Collstaa~. '~NK~ as use~ ~iere~n m~eans u~f r~e Ree~~ssoc'~a~es, `~`n~°ia ~'/or°~~s a~s 1 gns . ~ • ~ ~ NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION BOO~ ~~rW ~ ~ F85 7S2 R~v. )/~7 , - _ _ _ _ - .._..-r------ - - - - - - - . . - ~ - _ ~w~~._