HomeMy WebLinkAbout0980 INSTALLMENT PROMISSORY NOTE f
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TURTLE REEF ASSOCIATES, INC. * w wnwuo~ a.a+~,.d = 2970.Q0
6ANK NAME 1ei ~~~~~~~~ry = none
Jensen Beach, Florida. 33457 ~~~a~ = none
O FICE ADORE (D) OthM Chary~ IitNnl=~) = none
Oct. 6 ~g ~E~ = none
NOTE.NO. DATE~: , 19 . (F) = none
oue- ' ~ct. 16 . t9 83 ((3) Amount Fin~no~d 2970.00
s, c, o, E, F~ s
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PIACE: , FLORIpA (l) G~dit Invptip~UOn =
IJl OtAr :
Fo~ wlw r~wd. tM und~r~ipn~d (hNNnaftK talbd "Mak~r") ')ointly a~?d nverNly (il ~K) :
mw~ ~h~n ond p~om~s~ [o par ~o tMp~~ql NxBank. ai in oN~q i~it~d aDov~, tM ToyL
ot Payrntnq (trom IN) st rqhll of 6• ~V polyrs p~v~~ OU It) :
IMI FINANCE CHARQE
equa~ mond+ly iMtaUmK+ts o! t • . ~h~ IYSt (H, 1. J, K. L) = 8~b•60
~ns~Nlm~n~ dw a+ NOV . , 19 8. ~nd wbisqwnt intullnwnts dw on IN) ToW of P~ymtnn f(3 + M) = 3186 _ 60
th~~~y o1 ~thywelh tMrNitt?Lto~tfNr with a FINAL BALIOON PAV_MENT OF: ANNUAL PERCENTAOE pATE lO. QO %
s nvnr oue - - t' i~
TM Bank shatl impoM ~ dNirpwncy ch~rp~ p~intt tM bhkN on ~rh? p~YmN+t which ha~ b~coin~ du~ ~nd nm~lro I~ d~lwit fp a p~riod in ~xq~t o1 10 .1
dayf in ~n ~mounl pual to 6x of tM ~mouot of tM p~ineipsl psrt of tM paym~nt in d~fsult. In th~ w~nt th~t N+~ Nob b not Wid In tu11 sf nyturity, NI p~y ~
manp. wh~ch~r principa~. inar~st o. othaw~, shalt bwr i~~~t at tM m~xtmum lep~l rat~ ~Ibw~d und~r th~ Iww o! dr St~u ot Flatd~. All paym~nn nwd~
nerwnd~~ ~I+all b~ cnd~t~d f~nt to int~rKt ~nd tlun to principal. bawfwr, in cM ~wnc ot d~fau~~. th~ e~nk m~y) ~n In rol~ dixntFon. ~pp~y s~y p~yn~a,t ~o
mce.at. pinupN ~ndlo? lawful charyK tMn aoawd. It is th~ int~ntion of tM parti~s her~to Mst th~ p~ovisions I+N~M ~H not P~ovld~ dk~etly or indkecttY .
~or ~M p~ym~nt o! a 9rwu. ran of int~rMt or th~ nt~ntlon o~ any oth~. cF?arq~ than b sllowsd by I~w. It. tor any rwoe, int~~tt M~app of ~ueh Ip~l r~tt w
~ cM.p~ proNib~t~d by taw sh~11 at ~ny tirr~e b~ p~id. ~ny wei~ ~xo~a ~ha1t ~ithn eoastltuu and b~ u~~nd p~ynNnt a+ t!a p?Inelp~l or b~ r~funtNd d~netty
to th~ M~IcM.
TIN Ilbk~r m~y p?~p~y th~ ~nti~~ u~paid bflanC! of tIN foan it ~ny fime. II t1N IoNt h pr~pdd In full, acc~lu~t~d a?N{n~nqd, tk~ MakN shdl r~qiw a
~e~und o1 eM ur~uewd por~ion ot ~he imerKl and inwrsrK.y pr~n?iums td~putsd by the RUI~ of 78's m~thod, ~xqpt that tM B~nk thNl bt tnt~tl~d to nqin
e m~n~rtwm intert~t ths+p~ of ~.0~. t
t
CREOIT IIFf ANO CREOIT LIFE ~ OISABILITY INSURANCE ARE VOLUNTAHY AND NOT RE~UIRED FOR CpEDIT 8uth inwr~nq cowray~ is
avs~iabte st ~M tott desiqnsled bNow for the tt~m of the uedit: (ai ! fw G~d~t Lif~ Inwnnee Ib! _
to~ G~d~~ L~1~ 8 pesabihty Inw~ance:
Cn~ck ? G~dit li/e Inwranc~ n det~red on tht lih oi
ApP~~ ~irthditf
Box ? Credit lile a, Dis~bility Inwrsnu is desired o~ ~
~
r-~ 8'utf~dat~ '
L] CrWit L~fe and/o~ 0lpbdiry Insu~aot~ is nOt d~tired. ~
Qate: OCtLt~. i978 Spnstu~e ~ c ~(.,c,a_~ • ~
Ai1c Hopki~s
sqn,eu,. -
As s~tur t f t p mtet o1 t Nott t ~r ~b yr o t 8ank rity ~ r m 1 1 n ur ~ @f
~n~ '~ecord'e~ on '~`oo'k ~age 2~"'. . . '~Tn~~ 1~ee~C ~'n°°~8'n~=2~; . . -15
~s descrl bed i n sai d mort~q~._ ~
~ncludup a11 ~ntrqfes. subst~tutions, rpt~c~rnentt, sdditions and atussions tMreto and in tht proueds th~r~ot (Mt~indt~r calqd "Collabr~l"t. TAis f~cu~ity ~
~neerpt shs11 also s~c~.~ any other ind~bt~d~tst a liability ot tM Maker to th~ Bank dw~ct a ~nd~nct, sbsotuu a contin~nt, dw o? ~o b~com~ dw, now ~x•
' ~surg a Mrplt~r srisirg, intludinq ~II tutur~ ~dv~nqs p tosns by the Ba~k to th~ Mak<r. ~
I Tht Bank it ~I~o y~wo a INn and s s~curity int~t~st in all p~op~rty and sKUrities oi the Makt~, ~ndOner. wr~ry, puu~ntor ot xcwnenodation p~ty of ihis !
' NOt! (MffiM~tK ~~1frt~d t0 ~3 tht ~~OblpOrf f10W M O~ ~t Mfy tlrM 11pN~br COrtHnp intp t11~ Contrpl, plflOdy Or pO~itWtl 01 th~ B~nlt, wAlthM ~Or thf fx• ~
i n~essed purpos~ of bt~np u~tl by th~ Bsnk at Co11atKN, a for sny othK PurOoa, ~.n„ n~.~. o. a~ ~o ~n. a.e~t a aM? aaa,~n. inc{udirq
trust s~+d p~ney aocou~tt maintsin~d withtlM Bank by sny of tM Oblpon, snd tht Obligors syrN to dNivK to tM Bink sdditionsl Co11aWN w mNet weA i
f payrrMnts in r~ductia? of tht p~incipal ~mount ot th~ loan st sAsll b~ ptis(actory to tAt B~nk, in the twnt the ator~ntioMd Coll~tsral d?NI d~Clin~ in wlue
ur bKplfr uMitit(iGtOry t0 the Bsnk. .
~ /tidditions to, r~duciiorK a txchsnp~s oi, a wbstitutions 1a ~he Collatasl. psyrtrnts o~ Kcount ol tbit losn w inaeaNS of tM qnw.. or oth~r low mad~
~ psr~istly o. wholly upo~ ch~ Collsteral. ~rW trom time to Nmt W rt~sds without alfettirq tht provi~ipns of this Nole. TM Bank shNl tx~rtn~ r~ypna6l~ pn in ~
! t~e custody ~nd prq~rvation oi tM Co1latMd !o d~ ~xt~nt rpuir~d by pplicable statutt, ~nd q~sll b~ dKm~d eo haw ~x~rciwd rp~onabq eu~ ii it t~ka we~
; acuon for that purpoq ~s Nlaktr ~hall r~on~ply ~puKt i~ vMitinp, but no omission to do sny act not r~qu~qd by M~k~r ~lNII b~ dMrMO ~ fiilun to ~xsa~ ~
~ ~easonablt qr~. snd no OmiuiOn to tompiy with ~~y r~qwat of MsIcK tMll O/ itfdf b~ dKm~d ~ failurt to ~x~rtiM nato~~bN Cu~. BMk thall npf b~ b0u~d to
~ take sny ftpi nKe~iry to praNV~ iny ri~tt ill tM Cp11~tNN a~irat prio~ putie~ ~nd Maktr shall tak~ NI n~pasry ttps for ~uch purpoMS. Th~ Bank or ns
~ nomin~e r~d not colbct inUrqt on, w a princip~l of, any Co11~tNa1 or piw anY notia with re~ct to it.
~ Th~ B~k mry tw~ti~w to hold ~ny CollaterN dpo~ibd herWnder ~fter tht psyiMnt ol this Not~, if at tht tims oi th~ psyrn~nt and difehup~ Mr~of sny of
~ th~ partip liabb tor tM ptym~nt Mrwf ~AaN p~ tMn dii~ttly w oontinp~ntly IisbN to th~ 8ank p M~Ic~~, endor~er, wr~ty. 9u„•nto. o. aoc«nmoo.~~oo r,,.~y
~ ot sny otM? rat~, dr~1t, bilt ot ~xcharp~, a otM? irutrum~et, a othpwis~, and tM Bank may tMre~lttr ~z~rciw s11 riyhp witA ryp~ct ~o iad Col~stasl '
3 gfant~d Mr~io ~n thou~h Mis Not~ d~sll haw b~N~ wn~ndertd to tM Nl~krr. ~
A tt 1M Banlc dNms ittNf i~tun a upon dH h~pp~ninp o1 sny of th* fpllowin0 ~wnri, of which shNl oo~utitut~ ~ d~i~ult, d1li~bilitia of ~ch Mak~. to j
~ she Bsnk, ineludirp th~ ~ntin unpaid prineipN of thk No» and ~cerwd inoerpt, lp~ any un~nsd intK~t and ~ny fnlM~tt in ~xwst of th~ maximum ~Ibrwd ~
w br ~sw ~nd aev nbst~s rpuind by law, ~hNt inn~diatdy or tlNnatttr, at th~ option ot tht 8~nlc, ~xapt thst ~M oocur~~nu ot (e) a(dl dult eaur automat• ~
: K aceelv~twn: without notia a d~m~nd. b~oorn~ dw ~nd p~Yabb: (d tfN f~iiun ot any ObliDiu to p~rform any oblip~tbn. li~bility o. d~ien to dr Bank, to p~y ~
; ~nterta AKaon within 10d~yt atur it is dw, a it tMh a no dw dsu, attar it is bilt~d o? otherrriw nqupt~d or d~rtw~d~d, a to pay an1? othM li~bility whst-
k soear to tM Bank nRNn dw: (bl tM duM of any individuM Oblpa. tM di~olution of sny pKtnsnhip Qblipo? a tM dipolution. r~wqa a aonsolid~tion wiM-
i ovt tM Bank's prior writt~n tons~t of a~y corpp~~b Oblipor: (el tM /illnp of a p~tition in b~nktuptey or tta ~djudiqtion of irbolvMCy p b~nknptCy undM
r any ?torWni:ation, unnp~rt~tnt. nsdl'entrrNnt of d~bt. di~olution. Ilquidrtion w timitar WoeMdin4 w+du ~rrY F~dr~N d ttatt stRtup. by or a~intt ury -
Oblppr; (d) an application fw th~ apppi~br»nt o4 a?~osiwr fot, o? tlf~ m~kinp o! ~ pKNr~l anlpnm~nt for M~ blv~sfit of cr~ditat by, any Obliyor; (~l tM ~ntry
ot ~~~~t ap~irot N~y ObtiOor: (f) tM i»uMp of a~y ~tt~nw~t a q~rni~hm~nt, w th~ tilinp of any li~n, p~i~ut an~( propNty ot any Oblipr: t1M pkin~ e1 ~
oosssss~on ot ~ny fubstantiN DNt of tM DroputY ol ~ny Oblqw ae th~ irot~na of ~nY qov~rnnNntal wMwity: (h) cM d~a.mination by tM ~ank Mat ~ nrt~h ~
ai adrap ehaeq~ hp oeeurr~d ie ttw finaneid eondition of any Obli~or trom tM torwlitloeK Mt forth in tl~! rtw~t r~pnt (inM~t,M tqt~nrne of ~h OWipr
ne.~~otor~ furni~lwd to th~ B~nk, o? trom tM tpndltion M sueN ODliOor N hu~tofon most no~ntly di~doMd to tht BN~t, w tha~ ~ny wa~anty, rpr~nqtion, 1
~ ce~~~fieau a uat~en~nt of uiy ObtiOw (wh~tiwr ooneaimd i~ thlt Nott a not) pNt~Fnirq w or in eo~n~etion with thb Nots a tM Io~n Nrid~npd by tAi~ Noq ~
y cnntaiM ~n untrw ~uc~erMn~ 01 n~anrisl laet or omiu ~o wt~ ~rnthial f~et n~nsury in wd~. to mdc~ tM sut~rwnts rt~ad~.not mi~IMdirM; o?, !i) tM wi~ ~
ment by arry M~icN ot any puity in any o1 tf» Co14tKN withoui tM pr"~a w?itt~n tor?Mnt o( tf~t 8ank.
~ TM Bank ~hsll Aaw. but d?sll not b~ limiad to, th~ followin0 riqhts, ue~~of which m~y b~ uweipd at any tim~ wh~tMr a noe thn Nob i~ dw: (i) to
~ v~~dp~ a tnmi~r tAb Not~ and tM Co11~t~rN Md dN BMk ~11 tMnupon b~ rNi~Nd of all dutNt ~nd rMpon~ibilitiy I~wndK ~nd rNiw~ from ~ny and all ~
li~bility w{th ~~tp~et W any Co11atNN fo pbd~d o? VNqtNr~d. and any pi~dpn w tr~hr» ~hall for all purpw~s ~nnd in Nw pt~ of th~ sanic Mrwnd~r a~d ~
an c
~ hav~ all th~ rf~q of tM 6ank htnundir: lif) to tnnda tM wlwb a ~n~r pnt ot d~e Collstaal Mto tM nam~ d iwlf a ip norMn~: (t!i) to vot~ t1N Co11~b~M:
s i~vl to notify tM Oblipo?t o~~e~y Co14taM to nrk~ p~yn~t to tha 8ank of anysmou~ dw w to b~oon~ dw thtnon: (v) w cl~rrw~d, wt ta, eolt~et. a
m.k..m? e~q. ~r.na.ma~~ ~t ~wre" ~itia. w~d~ ~o ch. t Assocla~es° `~nC°ManO/orCO~~s a s'~noS.d~ ot~caw~.
'~N=C as used here~n mean~s ~ur~e _Ree
` NOTCE: SEE OTHEp SIDE FOR IMPORTANT INFORMATION ~Q~J ~
'z FBS ~s2 R.Y ~ BOQK ~.?v i PAGE •
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