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INSTAIIMENT PROMISSORY NOTE
, .
TURTLE REEF ASSOCIATES, INC. * wmou~~ A.c.~wd . ; 6210.00
NK N,?M ~s~ ti.~ ~a a~an none
Jensen Beach, Florida 33457 " ua~oweu,w :
~c~ o~~a~v aa~a : one
. oF a ~o~ oa~.? cn.~.. ~~~«~u.~ : none
. = none ~
NOT~ NO. OJITED:^ Mov. 5 ,,g~g ~F~ = none
DUE: ~OY. 1~ ~ 19 ~ IGI (AAms
nC. D.~E~
1 : 6210.00
, IHR Int~rot i ~ ~
P~/1CE: - - . FIORID~A (l) Cndit Invwti~tion
u~ od,.. - s
Fo~ valw r~qivrd. tM uncNr~Nd.lhMNnaltK qlMd :'MakN") ioietht ~nd ~nllr lif (K) ~
ma~ th~n oetl pronw~ to psy M tMq~~t~ . tl iN offin list~d aboN. tM Topl _
ot P~yn+~ets (tronl fN) st tioAti ot ?9t34S.4~ Do11MS WY~bN in ~ (U ~
IMI FINANCE CHAROE
.awi nwnetih ~m~~,nu~n o~ 8 . n~. ~~t K. u = 3638.40
~malln»ne du~ on • .19 .~nd ~ubMqu~ne imqllm~na dw on ~ IN) Tont ot hymtnts (O.+ M) _ • -
tM 1~ ot~cL~onth th~attaLto~tMr~tA ~ PINAL BA~~OON PAYMENT OF: ~NUAL PERCENTAOE NArE • ~
s _ nvn DUE .19'
TM B~nlc sMll ie~pw~ ~ dMinqwne~? char~ p~tnat tlw ~ oe ~n~r WYm~nt wAich hN b~oan~ dw and nmd+r M dNwlt ta a iN?iod M enaK of 10 .
ctays in ~n ~mount pud to 6lfi o1 tM anwuot ot th~ p.indpsl psrt of th~ p~ym~nt in dttwk. In eh~ wa)t ttNt tM Not~ M not pNd in full ~t ~wtu?It~r, all p~y-
m~nts. wMtM? orindps~.lnt~st or otM~rt~. ~lull bar f+it~nst at th~ m~xien~m Ipd ~aa albw~l uod~r tM 1~ ot tM stm ot FIo.kM. All paymM+a msrM
Mrwr~ p?dl b~ cndit~d fint to inqrat snd tMn to principN. horwea. in tM w~nt of d~fault, tlN B~nk in it~ !oN ditcntion. ~pply ~ny p~ymM~t t0
intae~t. priocipal ~nd/0~ Iswful ehvya-tMn scp~d. It b th~ inqntion of th~ p~tia Mnto tA~t tM provi~~~ ~hMl not P~~~ dinetly p iedk~ethl .
tor tM piy~nt of ~~tN au M intena a cM ntMtion o~ ~nt? otMr dwy~ th~n b ~Ibw~d b1r Iwr. (l, ta any rwon, IntKUt In ~xaa of w~ef~ IpM rab or _
a chsrpt p~ohibit~d by Isw ~It it any timt b~ Wid. se1? wch ~xaa ~I~ a~tha eonseitua ~nd b~ uut~d r r p~ymd~t on th~ prlnelpsl a b~ r~fund~d drnedy
co tht MNcer. ' " ~
TIN 1~4kH m~Y pnp~y tM Mtiro unpaid bN~ne~ of th~ losn at ~ny tirrw: II tl+~ (wn b pnp~id In tull, ~opluand or n~lnano~d. th~ MNcK. ihdl r~iw
+efund of th~ u~Md ponlon of tM int~nst and in~wanc~ pnmiums ea~utsd by tM Rul~ of 78'~ nrthod, ~xppt that fM BMk shNl b~ ~ntitNd to nt~tn
a minirt~um intenft clwp~ R~ ~
CREOIT LIFE AND CFiEDIT LIFE t~ OISABILITY. INSURANCE ARE VOLUNT/1HY ANO NOT RE~UIqEO FOR CREOIT. Suth iMUr~te~tovKa~ b
svsilabl~ at iM oost d~sipr?~t~d bNaw for the a.m of t!» p~dit: for_Cndit LHe Irauranq (b) _
tw G~dit 4h di pi~tbility Inwrsntt:
CMck ? Cr~dit 4fe I~uurant~ it dssind on tM lif~ of
Appl. ~irthd~b
Box ? Gtdit Lit~ a pis~bility Inwraeq b dnirM! on
~-y ~ Birthd~tt
U Cndit Lii! ind/or Otssbility InwriefC! if not tlesiad. .
p,~.: Nov, 5, 1978 s;~,st„m C
- RoRa 6. Brockert
- si~nsn,n •
, As ~curity to~ the psymMt ot t I ~ tlw M~kK hK~r yrsnts to tM B~nk s»cu~ity interat the followirg prop~rty ~ i n Turtl e
' Reef Cond.
' e~ n n C-12
-
~
~ ~nc~udiny all inuws~. substitucion~. aplacenrni:. sdditions and acptsions thersto snd in th~ proa~ds th~rwf (1Nnin~itK all~d "Collaar . ky
~
E mterat shNl aho acun sny othK ind~budna~ a liability ot th~ MNcK to tM 8ank dinet w indinet, abwlut~ or eontiep~nt, du~ or to b~eorn~ dw, now ~x-
~ ntirg or h~rptta arisinp, includinp all futur~ sdvaens or loant by tM B~nk to tM IY4ktr.
i TM B~nk it Mso yivan a lisn snd a t~writy inta~tt in NI piopKty ~nd ~swriti~s oi tht MM«r. ee~don~r. wnty. pwranta or secomnwdation puty of tAa
~ Noc~ (lwrtinsher niwnd to as th~ "Obligors"1. eww in a ~t snY tirrr haNttN oominp imo tM eontrol. eu~cody or po~aion of t1u Bank, wMt1N. fa da ~x-
r P?~srd purpoN d beino uad bY tM 8snk ss Colbqral. w tar ~ny otf~ DurPop, snd uPOn a~Y bslane~ or b~~ to tM or~dit W a~W aotount~, indudinp
! irust and a~eney aaounts msinbin~d vvithth~ Benk by sny of the Oblipors, and th~ Oblipon ~prN to dNivw [o tM 8ank sdditional CWl~b?d or mdc~ ~ueh
oav~++aia ie nduction of tM principal amount ot dM {orn s~ ~hall b~ ~nisfsctory to ihe Bank, in the ~t th~ ~fwern~ncion~d CollatKS1 ~ha11 d~ctin~ in wtw
or beton~ ur~titf~etory to tIN Btnk. '
Addition~ to. nduttioni w ~xd~snpas of, or wbaitutiom fo~ tM Collat~nl. psyments on aotount oi Mit bsn or inaNMi o~ tM t~nr, or oMtr lo~ns matN
partislly or nA~IY upon tM Co1laUral. msy from tin~ Qo tim~ b~ msd~ without etfsctinp the provi~ions of this Not~. TM 6M~k fKafl tx~rtiN naot~abl~ qn in
iAe eustody ~nd pr~rvatioo oi the Coll~wal to de~ ~xt~nt requind by applie~bM ststut~, and d~Nl b~ dNnNd to hav~ ~x~reiad rN~oeabN c,~n if k t~lca wd~
xcion for tMt pu~pow s~ INdcw ~hslt nponrbl~ nq~~t in w?i~irg, but iro omission to do any an not nqu~sqd by MNcK s1N11 be dMm~d ~ f~dun m~~ci~
naswf~W~ ph, ~nd no wni~ipn to oornply with any r~qu~tt pf M~IcM fhall of itsNi b~ dNrt»t! a Eailurr to ~xKCi~ r~aoMbN qt~. 8ank fMll not b~ bow~d to
tak~ any st~pt n~asry to pr~vt Nry? rghtt in Nw Co11atKM apsirot {uior p~rties snd Maktr d~all tak~ MI ri~p~an? ttpt /or wch pu~poNS. Tht B~nk or its
nominN ~wd aot eolbet inUnst on, or a p?ineip~l of. anY Collateq! or yiw any notiq with r~tp~et to it_ '
Th~ Bank nry eontinw fo hold any Collac~rN ~Mporiad Mrwnda sha Nw paym~n~ of tl+is Noa, if st cM [inr ot th~ p~ym~nt and di~d~xy~ hawf any of
tM psrtia liabie for tM p~yn»nt htrwf ~hMl b~ th~n dinctty a oontirgMNy IisbN ta th~ B~nk a~ Msk~r, ~ndor~r, wr~ty, pwrsntor or ~oeoewnod+tion ps.ty ~
at any od~a not~. dr.ft. bill ~ 01 .xd~arq~. o~ ot?w iratrurtwit, or otlwrwis~, and th~ Bank nyy th~n~h~r .x~rci~ all .i~a wiM rMP~ct to ~aid Collatera
grsnad h~~in w~n thaqh fha Not~ ~hN11uN bNn a~nnd~nd to tM M~ka.
If th~ Bank dMns italf imaun w upon th~ Napp~niiq of sny ot chs followirg w~np. wch of which fhNl oonaitut~ ~ d~fault. sll liabilitiu of pch Malur to (
~ che 8ank, i~dudirp tM ~nt'u~ unpsid prineipM of thit Noa ~nd aceru~d inarpt, las snlr unwrmd intpat and any intKat in exeau of th~ msxirtwm albw~d
by ~sw ~nd sny rN~tK nquir~d by law, d~Nl inwn~dia»ly or dwn~itN. ~t eM option of tM Bank, ~xapt that tM oocu?rMa ot (e) w(d1 ~hafl eauM autom~t-
~ +c sooNa~tbn: witf~ort notia or daewd, b~owrr dw and p~yabl~: (a) tM failun ot any Oblioo? to p~rtorm aw ob~iq~tion, lirbNity o? dNm to ~ 8~nk, to pw
' incerat Mraon within 10d~yt ~ftar it b dw, a ii thMt b ea dw dsa, dtK it is bi1Md a otMrwiN rpu~bd or d~n~id~d, ar M psy anY od»r lability whst- ~
soevN to tM B~edc w!»n dur: (b) th~ dath of ~ey indivWuN Oblioor, tla disotution ot ~nt? P~te~~Ab OblfOor a tM dlMOlution. nwp~?weomolid~tionwith-
out tM 6ank'~ piwr vKitt~n Co~Nft of any oorpo?~M Obiipr. k) tM fili~q of ~ p~titlon in bankrup~ey or th~ adjudktNon of irqoh»ney o~ bsnknptey w~d~r
any no.p~ni~tion, arr~np~rrrnt, ri~djusan~nt of d~bt. d"a~otution, Ilquid~eion a ~imil~r poea~di~p undlM any F~d~ral w saa stan,a, b~r a aONme ~nt?
~ Ob~qa: Id) sn appliatwn for th~ a~ointn~?t of ~ naivrr for, w th~ mNcMp ot a oannl ~ipnnMnt fw tM b~fit of a~ditas by. sipl Obliqa: l~) iM a+a1r
~ of l,~pnwnt sp~itpt ~ny Qblqpr, (f! tIN bwiiq oi any attaehtn~nt or ~rn4hrmnt. o? tM fNinp ot any li~n. s~sinst any propvty of s~ry? Obli0or:1/) th~ t~kitp d
~ oossnsion oi any a~bstantial O~rt of ~ prop~.ty oi any ObtiOor n tA~ inaana oi ~r qowrnnwntal wd?or~ty: (h) dN d~n?rnio~tioe b~? thM Oank Mn a~Mri-
~ s~ ad~rarp ehanp~ het ooa~rnd in tM fin~neid aonditian of ~ny Obtioor from t!N tonditiom Nt forth in ih~ mott ~ant lirwneid tbtNeNnt o1 ad~ Ob1ip•
neretota~ fwni~Md to th~ B~nk, or tran tht eondition of ~ Oblf~w u h~tcofon mat nantly d'adowd to cha Ba~ie. a th~e a~y wnnnty. ~~p?~nt~~a+,
~ urufiau a aai~n~nt ot any Ob~ioor (wA~h~r oone.imd in ehis Not~ a ~+ot) vr?aid~q to or in oo~+n~cebn wid~ ehk Noa or eM br+ wid~nad br Mi~ Noa '
conaim an untru~ ~tat~mrnt ot ~qrlN faet w omip to ~t~t~ nrt~ial hct n~ppary in wd~r M msla tM ttat~nMnts rnMl~ not midMdi~; ot. Iq tM ~N
m~n~ by ~ny AO~ka o1 any pufty ie any oi tM ColrtaN without th~ pria nr~itta~ eonMet of th~ B~Mc.
Tht B~nlc d+~ll haw. but dfNl not b~ limlt~d to, t!N follpwin0 ri0btt, Neh ol whicA nny b~ ~x~?ei~d at any tim~ wMthM or not thb No1~ a dw: (i! W
P~~ a traKh? tbi~ Nob ~nd dM Cdi~t~rN ~nd tlw Srnk ~q dw?wPon b~ rNiw~d o1 NI ~tiM ~nd n~pon~iWlhfp MnutidK a~ ~di~wd han and dl
li~bility with ~ct to anr ColbtMai io pbd~d o? bansfamd. ~nd any pNd~~ oc tnialaM fhdl for dl PurPaM aand in tM Pl~o~ of NM Ilaek 1NrwndM ~nd
t+av~ aN tlN.ipha of th~ eank h~rwndK: ifi) to tr~t~r tfw whoN w uw pre ot d~ Collrtr.al into dw ranr of it~N a ia nomin»: (1ii) eo wt~ th~ CoU~t~M:
tivl w notifr tM Obli~on M~n~r ColtatKSF to m~k~ prym~nt to th~ 8ank M~r ~mount~ dw a to b~aonM du~ dwnon: (r) to dNrrnd, rw fa. eolbet, a
~k~ ~~~IK~ as
usec~ e~`re~n
m~eans u~
r~e`~Ree~~ssoc~a~es; `~n , an /orOO~`~s as'~s~nsO°~di.
£ .
NOTICE: SEE OTHER SIOE fOR tMPORTANT I~IFORMATION
FBS 752 RH. 7/77 . ~ 3 . ~ ~ ~
f ~
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