HomeMy WebLinkAbout0988 ~ . lNSTALLMENT PROMISSORY NOTE , j
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TURTLE REEF ASSOCIATES, INC. * ~n1 ~wue~ A.o.~wa = 6.100.Q0
NK NAM< (S) L1t~%
uDinNbi`IitY 1M1 = none
Jensen 8each, Flarida 33457 ~~~s~ : none
off~c A' lo~ och« ch.ryp ~~um~:d = none
« = none
MOTE NO. DATEG: Jun! 22 .19 78 ~F~ = none
ld) Anaunt Pinanad 61100.~ i
DUE~ JU~y 1 ~~g ~ !A, s, C, O. E, PI :
IHI IntNN~ _ • • ~
P~nCE: , PLORIOA (1} Cndit InvMtiq~tbn :
~ u~ an.~ s
Fa vNw r~cHwd. tM und~rsprwd (ha~inafta calbd "MakK") jointly ~nd swK~lly (it (K' ' i
mon ~Mn on~l p~omis~ a p~Y to th~ a ot tM~ •i ia o1f~o11isqd.bow. tM Toul
oi Paym~nts (lrom (NI at riqht) of ~9 674.4b p,u,,, P,r~, 120 _
IM! fINANCE CHARQE
~w~.~ moacnh ~nsc~~m~~s ot: • .:h. tka ~H. t. K. s 3•574.40
~n:u t dw on AU9. i , 19 8. aa! wb~wnt instaltn~p dw on
!N) ToW of Paym~nq ((i • Ml = ~ •
~~ne day ot ~~onin ~n~.wit~rsto~iM: w:ch a F~NA~
sA~~00N PAV_MENT OF=- ANNUA4 PERCENTA~iE RATE • ~i ~
S OUE . 1~-
TA~ 9~nk shall impop a dN~~pwnty d?arq~ a~in~t tM Nbka on am? WYm~n~ which Iw b~ du~ and ~~im in dNwlt for ~ D~?ia! i~ ~xaK of 10
days in an snaunt eqwl to C% of tM atewunt of tM prineipM pat ot tM psymp?t in d~fwit. In tM ~t tMt th~ Nott b not paid in luii ~t nwtu~ity, NI pay
menes, wh~th~r principal, intN~t o. othawif~, ~hall bNr intaKt at the +nanirtwm Ip~i nt~ Nbw~d und~r tht bws of tM Suu o/ Flo.itlr, AII ppm~na mad~
herwnd~r fhNi bt ued~t~d ti~st to inqttft and tMe1 t0 ptincipN. how~r, tn tM ~wn~ of afwlt, ~M 8~ek m~y, in ia wN di~~ion,appty any p~ymu~t ~o
;~?er~~, prie~cipsl ~ndJa ~swful ehu9es MN? ~eerwd. It ia tM inqntion oi tM p~rtiN ha~to dNt tM provi~iwq hptin thall not p~OVid~ dir~ttly a indir~ttly
ror ih~ paym~nt ol ~ yr~ster rste of intK~st w tl+~ nt~ntion of ~ny othN chup~ tlw+ is albw~d by law, ll, for ~ny r~on, intKpt in txaa o1 ~uch IpM rat~ a
a c1?srqt prohib~qd by Iaw shall at sny timt b~ paid, sny wch ~xptt shdl ~itAe~ ton=titut~ ~nd b~ mstW M~ psyen~nt on tM p~ineip~N or b~ r~fund~d dir~ctty
1 o t he NA~ker. -
Th~ Mak~t may pr~psY tM ~nti:~ unpaid bslana oi tM losn at sny tim~. tt th~ Iwn is pr~p~id in full, aocNK~ud or rtfi~?anud, th~ M~ku sANI r~w s
~e und ot the unesrn~d po.tion ot ~Me i~t~r~st and inwneu pnmwms ewr~wtM by tM Ruh of 78's m~thod, ~xppt th~t tIM BaI1k fhNl O~ Mt~tl~d t0 /~1~i11
a m~~~mum int~rKt CMrq~ ol fs,~.
CREOIT LIFE AND CREDIT LIFE A OISABILITY INSURANCE ARE VOLUNTARY ANO NOT REDUIRED FOR CREOIT. Such imur~npcovMpt is !
available ~I tM C031 fNsqMt~d btIOW (Or th! t~rm O( th! pMlit: f for G~dit Li1~ Inwrsnd (b) ~ ~
~or Cr~dit Lifs 8 Dnabihrr I~su.anp:
Chetk ? GWrt Life liuursnte is ~irtd on tht lih oi
Appt• BirtAdat~
Bo¦ ? C.edit L~fe b Ois~bility Inwranq is daind on .
r~ BatAdatt
u CrWit L~te and/a O~~i~i~y Inwrsnu is not d~s~~~d.
o„e___ June 22, 197i ~,9,,,~~n
. rn
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As sacunty for tM psvm~nt of tl+t Note tM QANca hK~by qrantt ro tM 8a k
sn
~~ty intaat m th~ ollowi
I, recorded 1 n 0. R. Book 263. Paq~ 2002 . Urti t Weeks 48 and 49 1 n C~On~~3- , p. o. -
as descrit~wd in said mnrtgagtl - j
~nNudmp a11 mcrpks. wbttiwtiont, rplaC~rtrntt. sddicio~ anA atpstqm 1hp~to snd in tM prop~ thK~o( (MrtiMttlr taU~d "Co11~t~r~1"1. Thk t~turity ;
~nceres~ ~hall slso Nture ~nY oth~~ ind~bt~dMir p li~biliq of tM MNc~r to tht 8~nk dintt o~ indu~tt, ab~olut~ or co~tirp~nt. dw or to b~com~ dw. now ~x- ~
i ~st~ng or huwtt~r a~~urg, ~ncludinp all tuwn sdvaney o? Io~ns by the Bank to tht Ibt~ker. ~
j Th~ B~nk q also 9ivan a li~n sn0 s tKwrity inlN~ft M ~II proptrty and lttuntip of tht M~(c~r, MdorMr. wr~tY. 9ua.an~c? a sccammoda~an pnty of Mn
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tvoce Ihp~insftN r~f~rr~d to ~s tM "Obl' ~
~po.s"1, now in or st sny tinr Mrpfetr oominp into tl~~ eontrol, e~ncody a po~~on of ih~ B~nk, wMe1+K fa dN ~x-
a~eswd pu~pwe ot b~inq used by tM 8ank a Coll~earat, or for any oth~r purpost. snd upoe~ any bslane~ w bNane~t to th~ aWit oi M~y aotounts. intludinp ~
' «usi snd p~ney ~ceounts msintNnW withtM Bank by any of tM Oblport, s~d d~e Oblipon pnt to dNiwr to tM B~nk sdditional ColbarM a mNa weh ~
€ oavmtntf in ndu~tiw~ ot th~ printipsl amount of th~ Ip~n q s1N11 W satisfaetory to tM 8ank. in tM ~wnt tM atorNn~ntiorNd CollaurN d~sN d~ditN in valw
o~ betorr» unsstqfactory to t1M Bank. . !
Additions to, ~~ductiont w eYChanp~s of, o~ wb~titutioM fOr th~ Collsie"ral, p~ynrnts p~ aocount pf q~y loan p~ ~ncr~s of tM s~m~, or othN lo~ns mad~
~ pa«~a~ly a wholly upon-~M Col4tsal, m~y /ronf tinn~ to tinlt b~ rtydt wfthout sfhCtiny tM Provision~ of thit Npt~. TM Bank q~sll ~xpC~ r~ppn~bN Cp~
; ihe custody and pr~rvation o( tM Col{~t~r~l to th~ ~xt~nt rpuind by applksWt tistut~, snd ~hNl b~ dNrt»d to haN ~xNCiwd rNwn~bN t~r~ if h qk~ weA
= acaon to~ that purpoa a~ Illyk~r thall r~b1y rpw~t in w~itinp, but no omi:sion to do ~ny att not i
€ ~eason~6b can. and no omipion to eompty with ~~ad bt~ MNnr ~hM~ b~ dwm~d ~ ~~ilun w uw•e~
sny rpWtt Of IM~kN ~hall o~ it~Nf b~ dMrt1~d a t~ifutt to ~x~tc~s~ r~atOn~bN car~. Bank lhNl not bt bow~d to ~
~ ~ake snY stps n~ee~y to prnKVe ~ny rphtt in tM CollaqrN apsin~t prior psrtiea aud M~kK sAall t~lw alt n~ont~ry stp~ for wch pu~po~s. TM B~nk or ~tt
: nominN nNd not CoINCt intitpt On. Or ~ prinCipN Of, arly COflatM~) pr ~~y nptiO~ Wit11 r~~Ct t0 it.
~ Th~ Bsnk rnsy ContinW to hold any Co11~tNN dpoliNd hMlund~r dter tM paynlMlt of thi~ NpU, if st tIN tirtN of tIM paymtnl an/1 d~Aarq~ h~.p/ any of
' ~M patia liabN fa tM piyma+t h~nof ~1~a11 b~ tMn dN~ctM or oontinq~ntly IiabM to tM 8ank p Maker, ~ndorNr, wnty, qwnntw a aoeonwnodstion ps.iY
~ 01 sny otMr ~ot~, daft, bfl! o~ ~xehan~, o? odNr intt?uma~t, or otlNrwiM, and dr Bink rewy thM~sftN ~xatis~ NI riphts with rpp~et to said CollayrN
r granqd MrNf1 fwn thOUph thif NOtf fbNt hav~ lN~e1 WnMd~~M t0 tM IYi~kN. ~ ~ , 1
~ I f tM Bank dNn» itfNt inptun pr upon th~ b~pp~~i~q pt any of tM tollowinp ~wnts, ~sd~ oi wNid? diNl constitut~ ~ d~tault, sll liabilitNt of och to ~
dN
~ ,Re Sank, uxiud~rq cM •ni~n un~~d a~nci~ ot :hi~ Noa and aoeruw iaar~. Na any urwrrwd inNr~ ~nd ~ny inurpt in ~xoas.ot ~M nwcurar~~o~wd
~ bv Isw ~d any r~bst~ rpui~~d by Iaw, ~hNl inre~WeNy or qNr~afqr. ~t qN option of tM d~nlc, suapt thn tM oawnnp oi (el or ld) M~NI eawt au~omac- ~
= :c aceN~.~tbn: wf[hout notia or d~nw~d, b~oonydw and p~yaWr. (d th~ failun of ~ny Obiga to pwfwn? a~y oblqnion, I1~bNicy o~ daNn W eM B~nk, to psy
g ~nierpt hp~ within 1~d~ys aftN it is dw, or if tAN~ ia no du~ d~q. alqt it is bill~d or oth~rvvi» rpi»tt~d or d~msnd~d, or to p~y a~y othM liability what• ~
~ sorwr to c(» Bank wlNn dw; tb) tM dwth o~ any individuN Oblpa, tM di~olution ot any p~?tn~nAip Oblpa or tM dipolution, m~r~tr a oomolid~tion with- ~
~ out tM Bank's pria writqn tonft~t of sny torpprab Oblpor: k) tM filirp o/ ~ p~tition in b~nkruptcy or tM adjudie~tion pt imolwncy w b~nk.nptcy undp ~
a any r~orp~nis~tion, ananq~rt~nt. ~wdjuttrtNnt of.d~bt, di~l0iutiOn, liquid~tion a amilr proardin~ unda ~ny F~d~.N a sua =tatuu, by w pN~t sny I
~ Ob~~yor; (dl an appliption fa tM appointrn~nt o~ ~ npiNr for, a tM nrkiiq ot a p~n~rN at+prwrNnt /w da b~n~tit of cr~ditors by, srry Oblipr;l~) tM ~ndy ~
ot ~~~Nt any Oblipor: (f) tM i~uirq M~ny att~ehm~nt w yNni~hmMft. or Mf /ilino M any li~n. a~inst ~nY P~aPMt1? oi ~n1? Oblipr: i0) th~ t~kup o1 {
noss~uion of any wbtunciN Pkt of tM W~t1l 0/ anY ObliOor at eM iettana of ~nY Yor~nnNntal wthaity: (hi ~M dKamin~tion by d~t Wnk tl~ ~ nwara
- ai adv~.p ehanp~ f~p oaurnd in tA~ fiiwuiN oondition p/ any pblppr from tM eonditiwr ut tonh in eM moa rrpnt tin~neisl staunwnt pt wKh Ob1i~a ;
i ne+~~o(as turni~Md to d+~ 8ank, a irom th~ ~onditfon of wd~ Ob1ga r hK~wfon mwt npntly d'adw~d to tM S~+k. a tMt ~ny w~ranty. rp.~nncion,. ~
; cer~~fieat~ o. ~at~mre~t of any Obliopr (wMtMr oontain~d in q~i~ Mpn or not) p«tainiep to or in oonn~e~bn wid~ Ma NoN a M~ Iwn wid~no~d by eha Noa ~
z cnn4~iu M untrW ~qtNn~nt OI rt1~tKy1 /~t p/ pllfjq t0 tflb nMtN~M ~~Ct ~ in ordq to nrlc~ th~ tUttnwnts n~ bot midNdi~: Or. ti) tM wi0n- ~
~ ment by any IIA~kp oi any puity in sny d tM Co11~q?~I without tM ptior writN~ tonMnt o/ tf» Bank. +
i
~ TM Bank qiall hwr. but ~MII not b~ limlt~d to, q» fWtowinp ~iqhq. pdi of whieh nyy b~ ~xMeiMd ~t ~rW tim~ wAwtA~r w not thi~ Noa n dw: (i) to ~
o~sap~ a tnrKf~. ~y Not~ and tM Collaarsl and tM ~nk ~MN tMnupoe b~ n1iMd ot alt du~ u~d nlpo~uibilitiN Mrwnd~? snd rNiwrd fran ~nY ~nd MI ;
n ~,abdity wiM r~~p~et to any Collata~! ~o pNdp~d ot tr~fKr~d, ~nd aml pqdp~~ o? uam~~rN fhMl tw aN DuryoN~ tt~nd in tM pbo~ of d» B~nk bsnundM ~nd ?
~ hsv~ dl tM ripht~ oi tlw BaMc Mrwnd~: lif) to traml~r tfN nAwl~ a any p~rt o1 th~ Co11~tNS1 into tM n~tm of ipNf o~ itf natninN: (iii) to wa th~ Co11~tNa1: i
~ 1 ~v1 ~o ootity tM Oblipw~ o~ ~nY ColbarN w nrk~ paynrnt w tM Br~lc M any anwum~ dw or to b~oorrN dw (rl w d~~w+d. ~ fa. ~olNet, a !
~ ~k~ ~~*~'~NK~ as use~t ~iere~n m~eans u~r~e`~ReeT`O+ASSOClateS° `~`n~/~LS as~s'~n°
s:d` °f Co1~`~' ~
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i NOTICE: SEE O?HER SIDE fQq IMPORTANT INFORMATIQN OGK~ ~ ~+r~ i
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