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~ ~ r INS~TALIMENT PROMI8SORY NOTE: .
` t .
TURTLE REEF ASSOCIATES, INC. * ` tM ilmoun~ t~at~ = 6
NK NAME As (e) ~ ~a no e. j
Jensen BeaCh, Florida 33457 ~ - uh~°"'°ru"'
tc1 p~eun~nnn? s~.mw : no ~
oF ~c a (D) OcM• Char~u liewnizd t no e
~E) = none
NOTE NO. DATEa Nov. 10 .1978 . ~F~ : none
" Nov 21 gg '"'"01"` F~inad 6,30Q.00
DUE: ' ' , ~g" (A, b, C. . E. FI =
IHl int~rat i~ •
PIACE: . FLORIOJI (1) Chd1t lewttiq~tion =
IJI OthN = -
F.w wlw r~aiwd. tM undKtgrnd (Aa~in~teK e~INd '•MakM••) Iointhl snd sw~rslly lit (K) _
mon tMn om) promi» eo p~y to tM adK of dw 8~nk, ~t ia oltip ucad abov~, tM Toql
of paym~nts Nran IN) at ri~At) of - 59.991. 20 oo~brc wraAb ~n :
wusl monthly imtNln~nu ot t 83. 26 . ~y~ IMI FINANCE l:FIAROE
IH. 1. J. K. L) _
~~m~1lma+t dw on 21 .1~~.. ~nd wbwqua~t instNlrnMU du~ on (N) Toal oi ?wn»na i0 + M) f •
th~ 21SL~y pi ~eh~wnth thKwftN;~o~tl~ witA ~ FINAL BALl.00N PAYMENT OF: pNNUAI PERCENTAGB RATE
rwn
s ouE
. ,
Th~ 8ank d~dl inpo~e a dNinqwncti ehry~ a~in~t tiN 11A~ksr on atw p~NnN+~t which ha b~oon~ du~ ind nmdro in dtlwit for ~ p~iod in ucaM o~.10
day~ in .~w„m w~+~. ~0 51L o~ n,..mow~~ or a~. a~~+a~ r+~t o~ a~?~e a+ d.isuie. in d+. w«+e d+.t tn. No~. ~ r~oc v~ i~ ~u~~ n nn~u~+w. NI p~y.
men~s. wMM~. principsl. intKU; or od~, shdl bn~ MnrNt ~t th~ m~elmum !pd nul albw~d unda th~ I~ ot tM Sbt~ of Flor{d~. All p~ym~nts n~
MreundK ~ANI bt u~dit~d tint M inttr~st and tMn to prineip~l. horwrtr. in tM walt oi d~hult, tM B~nk insy in hf ~ol~ diuntion, apply ~nY psymint to
in~erest. printipN and/a IFrfut chary~t tlNn ~onu~d. It k tM intu+tion of tAe psrtiu hK~to th~t tM p?ovi~io~ut ~in ~It not prarid~7dinetly or indlr~ctly
iw tM W1lnwnt of s qr«tN qt~ o! {ntK~tt or tM roqntbn oi.~r otMr ehup~ th~n b aibw~d b~r law. lf, iw anY rwon, inb+~t in ~xpp of wch Ipd ~~b or
s~h+~ arohibit~d bS? ~aw ~1 at anr ~im~ b~ Wid, aM? wd~ ~xaa ~hMl Nt1+N ca»titut~ and b~ tnst~d p a P~YntMt on tFN P~~nefp~l orb ~~funeNtl dinetly
to-the MNca. -
Th~ M~k~r nW pnp~Y dw ~ntln unp~M bdanoe o1 the Iwn at ~ny tGrie. li th~ losn b pnpdd in full, aeula~t~d o? rtllrqno~d. tl~t'M~kK th~ll naiv~ ~
cetund oi iM u~Nrrntl po?tion of ths intK~st and inwranp pnmium~ eore~lut~d by tM Ruli of 78's nNtAod, ~xdpt thst tM Bank thNl b~ ~ntitl~d to ?~tsin
a minimum intNest da?a of ~.Q~.
CREOIT IIFE ANO CRE~IT LIFE ~ DISABILITY INSURANCE AHE VOIUNTAhY AND NOT RE~l11RED FOR CREOIT. Sueh irquranp cow?ap~ if ~
availsWt at the east d~sipnrnd bNow lo. tM t~.m of th~ eredit: (d s fw Cndit Ufe Inwr~no~ (b} S
tw GN1it Li~~ b pisrbility tnwqnp:
Check ? G~dit Lif~ Inwnr~ is d~sirtd on tM life of ~
Appl. 9Mthd~t~ ~
Box ? Gedit Lite ~ bisability Insursnoe is de~ind oo ~
~-y B'wthdat~
l:] Cndit Lif! and/a Oisability Insuranc~ it not deti?ed. / ~
~s.~:~ /1
Date: ~V. 10~ 1978 s~~tu,~ ~
e~~ ~ . r y , -
Si~,~tu~ ~
As security for Nw m~nt Of the Nott the Mslc~r yranri t tM ~s~
~.~in ' t pr ~ I~
reoorded i n~t. ~ook 263, Page ~~02. . Un~t I~eeks~~l an n na°. p. o. a
~
descri bed i n sat d,,,~nrtaaae _ -
~nciudi~g sll inerw~s, sub~ticutions. ?ptaqrtrnn. sdditions and atotssiont the?tto snd in dN proce~ds thtrwt (hK~insfqr u1Nd "Couaaral"1. Tha s~a,riey
~ inter~tt iAstl aNp t~CUre N~y otM? ind~bndnMS a lisbility oi the Mdcer to the 8ank dinet or indireCt, absolut~ or tontiny~nt, dw or to b~com~ dw, now t~c-
I i:c~rg or MrNft~c Kisirq, includinp a11 futwe sdvsnca w losns by UN Bank to tM Nh1c~r.
{ Tht Baek is a!w yiwn a litn snd a~curity int~nst in ~11 properq and fewriti~s of tM Msker, ~ndoner, wrthl. pursnea or sccanmodation puty of this
~ Not~ lhN~i~iftN nt~r~d to ~s the "Oblgas"1, tww in ot ~t any time re~pfter eominp into tM contrd, antody or pos~ssion oi tb~ Bank, wMtMr fw iM e:• •
prlft~d OYfPOp 0/ bfM10 Yf~d bY tIN Biflk ~i COII~tM~I. 01 f0~ MfY OMN? PIltDOff. i11d 1lp0/1 af~y bi1MIC~ Or b11~fIC~t t0 tlN C?~dit O~ af1Y a0COY11q. IfIClIJdi~fp l
; irust and ap~eey saouna mainuieed withth~ 8ank by ~ny of tM Oblipori, and tbe Oblipors ~prr to dN'wu to cht Bank additional Cotlat~rN a malce wch
` vav++~ts in nduetion of tM principal smount of tM losn as sh~ll b~ s~tistscto.y to the Bsnk, in the ~v~nt the aforarrwntiorNd Co1lat~rN ~hall d~clin~ in vdue
o? beconw urastitfactory to tAt B~nk. .
Additiaa to, nductiwa or ~xeA~n~s oi, or wbstitutions tw th~ Cotlsanl, psym~na on ~coount oi thit lo~r? w inues~n af tla am~, a oth~r loaiu m~ ~
partislly or wholly upon tM Co11aWN, mty from titrN to time b~ msde without sff~ctiny tht provisiwn of this Not~. Tf» Btnk ~hall ~x~ru~ tpwn~bN cart in
~he custody snd praKation ot th~ Co11atK~l [o tM ~xanc rpuirsd by pplic~W~ natun. snd shNl be dwrn~d co hwr ~xKCa~d r~qonaW~ can ii It aka aM
xtion for that pwpop as Milw dwll r~s~on~bly rpwit in writirg, but no omission to do any sct no,t r~quaad by Msk~r ~hMl b~ dNm~d a I~i1un to ~x~rci~ ~
~easonablt an, and no omistiOn to oortiply wiM a~y rpwft o/ Nl~k~r d?~II ot its~lf bf d~smed a fsilur~ i,p~xKCif~ rea~on~bl~ Car~. B~nk shafl not br bound to
take sny stpt n~q~tiry to p~rw ~ny riphtt in tM CollattrM apsiMt prior p~rtie! snd Msktr fhsll uk~ all ~y tt~p~ for wch putpoMS. Th~ B~nk or its ~
nomin~t nNd not coN~et inn.at on, a a princip~l of. rny Coltawat or piw any notia wiM rap~et to it.
Th~ B~nk m~y eontinue to Aold ~ny Co1lat~rM d~pw~t~d h~.wnder dter tl» piymsnt of Mit Nou, if st the time of tM pwment ~nd dikhr~t h~.~of sny o~ i
~n. psn~a ua~. io. tn. p.y~rn~ n.rw~ ,n.i~ a a+.n d~..cchr a oootinp~ntty IiabN to tht 8ank a Mslc~r, erwlor~er, wntY, puarsnta or ~ecoewnodatioo ps.ty ,
of ~ny otha rwU, drsft, bill oi ~xch~, o~ otMr imtrumrnt, or od~wis~, snd tM Bank nry dwrqfte? tx~rcin sll ri¢~q with rNp~et to aid Collaupl ~
g~raat~d henie fv~n thouph this Notr M~NI h~w bNn aunndend to.tM UMk~r. ~
If [M Bank dMnn indf inpcun a upon tM h~pp~l~irq ot sny of tM followinp events~ ~ad~ of which shsll eorotitut~ ~ dtiault, s~l tisbiliti~s oi peh MakK to
the Bank. ineludino th~ ~ntin unp~id prinCipN o1 thb Nou and aocrued inqnst. lps any ut»ern~d inbrpt and anY int~rat in txdp of tht m~ximum ~Ilow~d ~
by Isw and any r~t~s nquind by taw, d»II immdi~tNy or tMn~ttar. ~t th~ option.of tM Bsnlc. ~xapt thst UN oocurnnee of (c) a(d) dwl{ eaae automat-
~ K xcNaation: without notiet a d~nwid. bKam dw and pay~N: tM tailur~ of any Oblga to P~am any obliy~tion, liability or daim to dN d~nk. to P~1~ i
incerpt I~~on withie lOdsyt aft~r it it dw, o~ N tMn k no dw daa. aftK it b bilbd or od~erwiN rpwsnd or d~n~nd~d, a to pay aet? othK lirb+lity what~ ;
soevN to tM 8ank w1Nn dw: (bl tl» d~sd~ of any individual Obl~or. th~diaolution d arty psr[nsnhip Oblipa a tM diaolution. n»r~rar oonalid~tion wich- 1'
~ out tM Ba~k'~ pr'~or writtM ConMnt Of any Cwpa~t~ ObIgW: (C1 dN filinp oi ~ p~tition in b~nkruptcy a th~ adJu~pdon of inwlv~rw.y o~ b~nkntpicy undK ;
~ a~y no.p~nisacion, anrq~nrnt, rMdustirNnt ot drb[, d'a~olution, liquid~tia+ w simib? proe~di~q w+d~r ~r Frderal w iaa statuu, by a pa~c anr ~
" Ob~iya: (d) ~ ~ppliatiat for tIN ppointm~nt oi ~ npiv~? fa. a tM rrrkinp M a paMnl altipn~rnnt for th~ bNrfh ofi a~diton b~?, arry Obliqor: bt iM ~niry
~ ot ~~dYm~ni p~ir~t ~~1? Oblioor: (fl tM i~wiiq of am? attaehmrnt a y~rnahmrnt, or tht fitisp of sny INn. p~i~t ~nV P~~Y a~ ~Y OWpor: l,l th~ takin~ of
~ aoss~ioo of any ~ub~stantial psrt of th~ P?oqr~Y oi a~? Ob1qo? ~t d» imtana of ~ny ~nn»nul wMaity: (h) th~ d~wmin~tion by tM ~k M~t ~ nreui-
~ a1 sdwrq tharq~ Iw ooaund in tM fie~ancid eonditibn M any Oblfyor frotn tbt eonditiont Nt fotM in dN mat r~pnt fin~iN tt~t~rtNnt d~A Oblipr
~ na~toton furnblwd m th~ Ba~+lc. or hom tM ~onditbn of wdi Oblqw ~t her~tofae mat nanNy di~dowd to t1N Bar~lc. a th~t ~r wrranty. rpr~nation.
certifiqt~ a sta~MfMnt of any Obtlp~ lwh~tfiM COnWiNd ie M4 NoU o~ notl p~.biMrq to or Mt oonn~tion with this Nob a MN lo~n ~vitNnqd Oy ihi~ No1r
conain~ ~ umrw stannwnt of rrwtKisl ~aet a omits to ttm nrtwial hct ~tary in ada to mNu th~ st~t~mnts n~ eot mulMdi~q; a, li1 th~ wi~F
rrknt by sey AAdcM Of anf? quitY in M1y of tlN Co11~iN~1 vrithout tM p~'wr writt~n tOnNnt ot th~ BM+k.
Tt+~ B~nk ~Aall Mw, but dwll not b~ limiqd to, tM tdlowino riphp, weh of whicb rtwy b~ ~~arciMd ~t any tim~ wh~Ma w not thb NoM b dw: (i) to
P~~ or trsrNfM thM Noq ind tIN CollaeMal ~nd th~ BM~Ic !hN! d~Mwpon b~ rNi~wd of dl t~tiM and rNponiibllitiN h~nundM and rNNwd hom ~n~r and dl
IiaWllty with ~MP~t to an~r CdlaterN q pbd~d a tr~rofKnd. a~d srh? PNdY» a tandan,lh~ll foa all PurPo~ ~t~nd M tl~ Pwa of t!N ~nk Mr~uneN? and
hsw a11 tM ri0htf o~ tM 8anlc ha~und~?: If1) to tnmiM fM whoN or ary p~?t of tht Collat~rd Nw dw n~nN of inNf or iH nornin»: (iK) to ~w~ta th CaU~al:
(w) w eotHt? tlr ablloon ot anr Co14arM w nyk~ Pati?n~t ~o tM B~nlc oi an~r amount~ dw a to b~earN dw drnon: Iv) to d~nand. w~ for.. oolNet, a
t mNc~ uNr eoe~ Rr ~ttl~nwnt with to tM a?~I: vi) to a d of aq~dt,d Colfi>a~1. I
f ~N
C ds use~ ~iere~n m`~eans u~
r~e Ree~~ssoc~a~es ,~`n~an~/o~`~'~s a's~~ns .
~ .
NOTICE: SEE dtHEp SIDE FOR~1 ~ TANI'x INFOIi1111~1~ON , 3
F95 ~52 Atv. 7/7~ ~
s°o~x ~ ~ac~ ~ ~ ~
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