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f INSTALLIi~ENT.PROMISSORY NOTE *'~i ~ '
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TURTLE REEF ASSOCIAtES, INC. * ~ t,v ti,w~,~t~1.aw.d = 5~922
. e~?NK ~ is~ ~a c.~+t none
Jensen Beach, Floride 3345~ uh~°"'°"iN i"`' _ -
(c) ooounw+arv 8an+w ~j one
oR t A R (0) OMK ClarqN (it~m~~) ~ = none
. = none
NOTE NO. OATEO: Nov. 21 .~a 78 . ~F~ s none ~
~ ((i) Amo~iot Ftn~~ad 5 922 00
pV~: ! .19
~ IA. 9. C. O. E. F) _ •
tH) IntKat . . ~ _ •
PIACE: . FIORIDA (1) Ct~dk Inwtti~tion =
~ ~n an.~ s
Fa wlw na+wd. tM undK~pn~d lheain~f~r a1Md "Malc~r"1)ointty aod sw~r~lhr (U (KI =
mon than aNf O~omiq w P~Y to d+~ ac iri olfia lisud ~bov~, , ~
ot PsymMa Urom lN) st riphtl ot rn•'*~ polbrs piyabN in~~ (U . _
•aw~ ~d+h:~e.~~ ~noi • . ~n. rm IMI FINANCE CHAROE 4~
!H. 1. J. K. L! _
iraqHn~t dw on .19 ,~nd tuM~qwnt NnWtm~eb dw on ~ .
IN) ToW ot hym~u (O + M) _
~ne..~,~'e,y a~~'°„in ~h~.Mttat~~ wt~ a f~Ne?~ e~~~oON P~rME~
OF: ANNUAL PEpCENTAOE RATE • %
s DUE ~ 19'
TM Bsnk N~W tn~ ~ dNihawn~Y d~y~ pdiat eM M~IeK on Mw viYm~nt whieh hM bkan~ dw ~nd r~nalro In dNault fa a PKiod In ~xo~ d 1Q
day~ ie an amoune .vu~t to 5% of eM s~rwun~ of d+~ w~elpN V+<< of N+~ pwmint in d~fsul~. In th~ ~wnt that N+~ No1~ b nOt pdd In full at nwturit~?. NI p~y
mMtt. wMehp P~i~cipal. inmat o. otMrwi~, flull bMr Mt~rat ~t tM muc{nwm N~1 na atbwd undK th~ lawi of tM St~M oi Flo?Id~. Ap p~ynNnts m~
herMUW~t ~hNl bt c~~dited fint to int~rai and tMn to princip~l. howr~r, in tM t~t of d~fault, th~ 8ank^~~
in iq tol~ difention. appl~r ~ny p~y~nMt 0~^^ ~
innrest. pKineipN snd/or Nwtul eharqp tt+~n. ~oawd. It is th~ inoauion of tM psrtiu hK~to th~t th~ provaions MrNn dwll not p?ovkM dlhctly or IMkKtp~, .
fo. th~ psyen~nt ot ~ yratK ?st~ of int~rqt'w tl~ nt~ntion of ~ny otMr cha~qt Mw+ 4 albwed b~? I~w. If, tor an~r rwon,lnta~tt In ~xaM ot tueh Ip~l rau ow
a tharp~ prohibit~d by Iwv thNl ~c any tinft 1~ p~id, aMr lueh ~xoq~ ~fwll ~itfNr tonstitut~ and b~ trpt~d M a psynMnt On tFa prlnClpit w b~ nfundd dinctly i
to tM MdcM.
TM OA~ic~r rnay prpry tM Mtin u~aid bUana of d+~ bx~ ~t aMr tim~. If tl~ lou~ it pnpMd tn full, Kctb.~tW a n1ln~ne~d. tM QANcK sh~ll nc~iw a.
refund o( tM unprmd ponion of tM iocKest snd inw.ana premwnK comput~d by [hr Rul~ of 78's m~Mod, exppt th~t tM 8snk ~hall b~ ~ntitNd to nt~in
~ ~ninimum inanst ch~ra of ~.00. -
~ CREDIT LtFE AND CREDIT LIFE at OISABILITY INSURANCE ARE VOIUNTApY AND NOT RE~UIRED FOR CREDlT. Such lnturanp cov~tp~ i~
av`sll~ble at tM eost d~si~ad below to~ tht n?m of the aadit: (d i for Credit Lite Inw~ane~ (bl S
fpr GN1it Lih a Oitsbiliry (rl~urano~: - '
CMck ? GMlIt LitA f nwqr~ is dnir~d on tht lifs of
Appl. 6athdab _
Box ? G~dit'Life 8 Oissbility Insuane~ a dai.~d on
Birthdat~ -
u Cw~dit Lif~ snd/a Oisabili~y l~surana is not dasind.
~atr. ~ NE~V• 21. 147g _ Sgnsture
son . yr,
Sipnstu.t • I~
At t~writy for the paymMt ot tM NoU tM Mak~r her~bY 9?M~ts to the 8sn a " ~nu m the (dl ~ ~ ~
39 i n~D-~25 A t. Na. D- as
~escri6~d tn said ~nrr.qaae. ~
; meludino MI inuNt~. wbstitutions, rsptao~ments, additions aid s~uione tMrtto snd in tht p~oa«1t thenof IMninafqr plbd °Co11seHN"1. Thit aairity
I intenst thall ~ho s~wr~ ~nY otM? intl~bt~de~pf or liability of th~ M~kK to ths 8snk dinet o? i~dir~et, a6tolut~ or tontinp~nt, dw ar to b~com~ dw, now tx- i
~ istirg w MrNlta visiip, indudinq ~II tuture adanc~ a b~r~ by the Bank to tM M4kK. ~ ~
f TM Bank i~ abo ~ivrn s liee~ and a acurity in~qt in sll propsrty snd t~curities ot tM M~k~r, ~ndor~er. sunty, yu~rsnta or scconwnadnion p~rty of tha ~
' No~t Iha~h~r r~fa.~d co as tM "Oblipors"!. now in or at any tims Aaratur oominp into tM control, ewtody or po~aion ot th~ B~nlc, w1wtM. fw ~M ~x- ~
~ P?~ss~d purpos~ oi beirN uMd 01? tM 8ank at Ca11~t~a1. a for anY othu PurPo~. ~nd t~pon ~nY bslsne~ o~ bel~~on to th~ uedit ot any aotounri. ineludinY ;
vust ~nd p~ney aocounts m~inain~d withtM 8~nk by any of the ObtiOorf, snd tM Oblgws aynt to dNiwr to tM Bsnk ~dditioeal CollataM or n~Mc~ sueh '
pavm~na in r~duction of dw principsl smount of tM loa~ s~ sM11 b~ satisfsetwy to the 8snk, in tht ~v~nt th~ afor~r~writiawd Co1lat~ral ~hMl dalieN in wlw
or b~tprn unnti~faCtpry to tM B~nk. `°_'j
Additfom to, nduetion~ w ~xchan~s ot, or wb~titutions for the Collaurat, psym~na on aaount ot Mis Iwn w ina~aMS ot th~ ame, or oth~r loau n~ ' 1,
pan;Nly ar wholly upo~ th~ Co1lat~rN, mry t~o~n tim~ to time M rt~ wi~hout sft~eeinp du provisions of this Note. TM 8anksh~ll ex~rc~a r~pon~bN csr~ in
the wstod~/ ind pnarvatioo ot th~ Colln~ral to tb~ ~xt~nt nquirM bY appticsbl~ sututt. snd shNl b~ dNn»d to hav~ ~x~ciwd rwooabM pr~ if k tdcst wrM
xtion fa th~t purpow ~s M~k~r ~all rMtoryt~ly rlqu~st in w~itinp. but no omission to do aay ~t rat nqu~sad by MskK shMl b~ dNm~d ~ fadun w~ci~
~essa+~bN ah, ~nd no omiaion to comply wi~h anf? nqwa of Mslw shs11 oi itsNi b~ dNmsd s fsilun to ~xKCia reaombN ar~. 8ank ~hall not be pow~d to
takt any ~tpt n~q~nry to pra~rw sny rgh.t~ in dy CoI1stK~l apairnt priw psrtia snd Msktr shap take all i~asuy st~pt !or wch purpors. TM Bank a~ts
nominN ns~d not ooll~et intK~tt on, w a prk~i0~1 af. any Collstaal or 9ivi sny notia wiM rap~et to it. - ~
TfM B~nk nNy eontinw to hold any CollaWM dqwitmd hK~under dtM ths psymM~t of this Not~, if st tFw timt of thi piymMt and dirchup~ Mnof si?y of f
~M p~rti~ liabl~ (or tM p~ynw~t Mnof ~hM10~ ttNn dK~etly or oontinp~ntiy Ii~bM to ths Bank a~ IiA~lc~r, endoner. wntl?. puasntw or aooonrnodition Prri :
ot ~ny OthM iwU, drsft, bill d~xd~Ng~, p otfwr M~strtqn~nt, o~ oM~rwis~, and th~ 8ank m~y thKpftK ~xati~e NI riqhts with rpp~ct to wid ColbterM ;
qranad hKtin wa~ tha~ph tha Not~ Mw{f hsw E~ef a~nndmd to tM IiMlw. ?
If tM 8ank dNnK itMli in~eun or upan tMl~pp~ninp of sn~r of tM followiny ~a, ~ad~ of whieh slNll eo~ucitut~ ~ d~tault, Nl liabilitia of NcA Msk~r to i
tM Bank, inctudirq tM ~ntirt unp~W pineip~l of thi~ No» ~nd aocru}d inqn~t. ~as amr unarnd inar~tt and any fnt~rat in ~xpa of the m~cNrwm ~Ibrwd ~
by Isw ~nd any rabrqs nquu~d b1? law, ~Irdl inMn~tN~? or d~ir~fta, st ehe option of tM Binlc. ~xapt that tl~ oawr~no~ ot (c) w(d) fhdl ew~t autom~t• }
~ K s~ation: wiMo~t notia or d~M, b~oo~M du~ ~nd psyabN: ls) tM i~iNen ot any Ob17~w to p~riorm an~r obll~tion. li~bility or daim to tM Bank, to p~y
intaat AK~on within 10d~yt it a dw. O? H thw~ is no dw d~n. dM k is bill~d or od~ rpwat~d w dMw~d~d, a to p~1r a~y othN labi{ity whs[- ~
soever to t~ 8ank wMn dw: tb) tfw drtth of a~?Y IndivlduM ablgw. tM d'a~otution of anll P~~iP Oblka a tht d"a~otution. muY~r ar oon~olid~lion witlr i
ovt th~ Bank'~ p~ior writNn Co~Mttt of anY ~Otpon» Obli~or' k1 d+~ filinp of a p~tition in br~kruptty or th~ adjudie~tion M imofweK.y w b~knlpt~y un~
s~y norp~ni=stbn. arqe~trl~ert. ~ ot dMn. dillolutlon. ~14liitMtion or ~imibt VrOC~lin~ uedM anY FMlMN or st~t~ tt~tutt. bY Or a~in~t M~Y
Oblqor: (d) an aepliqtiae for tlw ~ppoitttnMnt Of ~ no~M? f4r, or tM trrkup M~ p~mrat aliipwrNen for tIN bw~fit of c~sditon by. a~y Obli~o?: ld tM ~ntry
~ ot ~~Mnt p~awt any pWpa: lfl tM ~uM~ of any attad~rt~utt or pwni~hnwnt. a Me tilfeq ot any Ii~n. p~inn ~ntl P~oP~Y a~ a~w Oplipr: tM akino o~
eos~ioe o~ any abstan~iM P~.oi a~e OroPVh? o~ ~nr Oblipr n fh~ lmt.na of an~ powrnnNnal ~uMaiW: (h) t1» d~u~miration by iM B.Mc n~.t ~ nrari.
' sl ad~rent dwnM f~ ateurnd in tM finrlCW Co~lition d~ty4bli0or from 1tN eondkiont tK fonh in tM mwt t~pnt fimntiM tqNnNnt d wrd~ Ob~ip? ~
nentofon turni~Md to th~ Qank, o? kan d+! coedition d weh Oblt~or ~ fNntofon mo~t nornth? d'adoMd eo th~ B~nk, or th~t ~ny w~rranttt. ?~~t~tion.
csr~~fic~a o? wamrnt of any Oblioor (MA+~fIN? aontain~A (n thi~ Not~ a ratl Aut~iM~D to o~ in aonn~etbn witb this Noa a eht Iwn widrnad br Ma Noa ~
conuin~ an untrw ~t~t ot n+~urW taet a omip co sb» nrt~risl hec rNawr~r M ordn to nrk~ cht amma~t: m~dr not QnatMdin~: or. li) th~
m~nt bv ~v 4MIc~r of MiY puter in an~r d th~ CoWNrN wiMout tM piwr writan eawnt of th~ 8w?h. " _
TM Bank Ihdl.lqv~, but Miall not b~ lin~ipd to. dy followirp riOhq. Nd~ of which ~n~y M~xMCi»d ~t any tinN MANihN or nOt Mif No1~ b dw: (i) to
pl~ o? tr~fM tbh NOa and tlr Co11~arM ~efd 1!N 8r~lc 11w11 t1NrMipon b~ rNi~w1! of W dutlM ~nd n~potyiWlitiN MrwndM ~nd rNNwd trom anll and dl
lisbiliry with rMp~et to anf? Coll~t~nl a pbdo/d o/ baiMf~rrd~ ~nd an1? P~«pM a tr~mt~ Mwll for aY Pu~P~ st~nd in tM P4~ of'tlM B~nk huwnd~r ~nd
hsv~ aN th~ rl~hn oi tM 6ank hp~undrr; (if) to vMKb? t!w wlwb o? ae1? p~rt ot tM Coll~4nl IMO th~ nanr M iwli w itt naninM:1N1) to voo~ tIN CoI1~M:
(iv) to naiip dN Oblipon oi +nt? Co1fa»nl ro m~k~ PM?nwee ao da 8~nlc of aiw amouna dw a to broonN dw ehK~on: (v) co d~n~nd, w,~ (a, owN~t, a ~
~ rn~k~ anl/ ooe~f~~? dSt
USB~ fl@I'~1 Il IIIE81'1S U~e~ e~~SSOC~f~L@S ~ l~C. dI10~Q `~l'L5 ess~'i
gn°s
d` ca~.o~.
~
~
. 80~ ~~f r ~:'.rc 3~ _
. NOTICE: SEE O?HER SIOE FOR IMPORTANT INFORMATION
F85 7S2 Rw. 7/77 ~ . -