HomeMy WebLinkAbout0071 ~ . ~ , ~
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• ~ INSTAI~;MENT PROMISSORY MOTE - -
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~ TURTLE REEF ASSOCIATES, INC. * ~,~o„n, ~,,.d = 6282.00
OANK NAb1E ~e~ n~~+ ra c..a+~ none
Jensen Beach, Florida 33457 ~f'~0~'~~~"' _
~ci o~~~n? st.mw = none f
oF ~c R to? o~.~ c~,.~~ at.~„r:.? : none
none
NOTE NO. OATEO: Nov. 24 ,19 78 ~F? = none
ia? Fa~ 6282.00
ou~: ~ Dec. 6 ,~s
~ u. e. c. o. e. F~ .
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PLACE: . FLORIpA (1) G'~t Invwtl~tion
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Fo? wlw r~+wd. tIK undenipr»d ihK~intttK eNNd "MakK") iointh? ~nd tt~rally (it (K) i
mon thM ontl Womis~ to p~y c.o tM or ~r ot tM 8ank, st ia ottiq list~d abov~, tM Toal
of paym~net If?an (N) at ripht) oi 9962.40 ay~ M 120 lu s ,
sqwl monthly installn~nts of = • . th~ ttrst iMl FINANCE CHAROE 368~.4~
(H. 1. J. K. L) _
entqll }t~ ,dw on Jl~• , 19__. Nd wbMqualt inst~lim~nit dw on iN) Tptal of Paym~nt= (0 + MI i •
tM ~~r of ~~wnth tMeNfttr;to~tha witA s FINAL BAILOON PAYMENT OF: ~NUAI PERCENTAO~ RATE 1_
S OUE . 19'
TM Bsnk dWll impo~ a dNin4~Nn~Y durp~ sp~ie~t tM MekK on ~nY pYnNnt whiCh hM boarr du~ and r~roim ~ elif~ult fa ~ pMiod il~ txoNi of 10
days in an anwunt ~pual to 5% ot th~ ~eraunt oi tM p?ineipal pKt of dr p~yn»nt in tf~fault. (n tM w~nt that tM Nob M eot ptW in fufl ~t nntuHty. ali p~y
mena. wMchK princ~pal. inur~st o~ othKwb~. ~hdl bar int~nst ~t tM n~cinwm Ipd at~ Nlorwd unda tM Iwrs ot th~ 8fm of Flaldr. All pa~rm~na mad~
herw~du ~Iyli b~ p~dit~d tint to intK~tt and M~n to pletipil, how~~, in thi w~nt of d~fwlt, tM 8ank mtyj in iq soN di~ntion, ~pply any p~ynNnt to -
mtaest, prineipN and/a lawful chugfs th~n ~opwd. it is tM inqntion of tM partia Mrtto th~t tM prwisioes herNn dwll not providt dinctlY or Mdir~cclY
fw ~ paym~nt ot a yrwtK ratt ot innrpt a tM nt~ntla+ of any otMr d~srp~ th~n b albw~d b~r I~w. If, tw any npon. iet~nst In ~xeat of ~ueb tpN qq or
s chup~ prohibind by law slwll at arW tirri~ b~ paid, any wch ~xqu ~hall ~itMr ooestitut~ and b.tnabd at ~ paymMt oe ttw prlnCipd w b~ nfund~d dihetly
to th~ MNc~r. - _
1'h~ IiA~k~? m~y p~~pay tM lnti.~ unpaid bdsno~ of tM losn at ~ny tim~. if th~ losn b pr«fskl.In futl. acalKSt~d o? nfirnnad. tM ~4k~? ~II nqiw s
retund ot the un~srnd portioo of tM intenst snd ir~wanq p?emiunq canputed by tM Rul~ of 78's mtthod, ~xeept dNt tM 8ank shNl b~ MtitNd to nUin
a mi~imum intN~st chsrq~ oi ~ -
CfiE01T LiFE AND CREDIT IIFE A OISABILITY INSURANCE ARE VOLUNTARY ANO NOT FiEQU1RED FOR CREOIT_ Such inw?~na covKa~ is
avsilsbl~ at tM oost daiynat~d below fo? tM tKm o( t!w cndit: (sl = fa C~ndit lHe Insuranc~ (b) _
tor Caedit Li~~ ~ pi~ability Insuanu: .
Ch~ck ? G~dit lite I~aursnce is desind on tM lit~ of
Appl. Birtfdat~ -
Box fl Gedit lif~ ~ Dissbility Inw~ant~ is dtsi~~d on
r~1 Birthdste ~
L"J Gedit Life and/or Ois~bility lesunnc~ is not desired.
Date: ~ V. 24. 19T8 ~ s~sw ~
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Siy~stu?e " ' v • ~
~~.«,.~ty ro. ~ c o tAe Not c~~. t. ~k acu.~ '~~n f 1 r~ T~rtl e_ R~t _ ~
~on~:"~', ~ecor~e~ on ~oo~C `~6~, ~age ~L~~:. . "lin~~ c~f°~`~'4~~ . -6 ;
' at. No. 0-26 as described i~ said mort4a9e. i
~nc~udinp a11 inuases. wbstitutions, nplsarn~ntt, additior~s and accescions iherero sad in ths p~oce~ds tAenoi (h~r~inaitp ultW "Collaanl"1. This s~curity
4 ~ntenst shsll afso tscure sny otMr indabt~dn~ or liability of the MakK to tM 8ank dinct or indinct, ah~olut~ or continq~nt, dw ar to b~can~ du~, now ~x-
~ ~s~ing or I~Ntttr ~rainq, includiny ~~1 iuture ~dvancss or loa~s by th~ B~nk to tM Maker. ~
TM Bank K alto piwn a lien snd ~ Mwrity intatst in sll propNty and securities ot tM M~k~r, ~ndonK, w~~tY. q~w~ntor a stto?r~modstion party of d+n ~
~ Note IhK~in~itK ntpnd to as the "Oblipors"1, now i~ or at sny tim~ heraft~r oomirg into tM eontrd, custady or poswaan of tht ~ar?k, wMtA~ fw tM ~x-
press~d pwpcu~ o! btinp u»d b~r th~ gank ss ColbarM, a ior any oU~er purpo~, snd upon any bslaw w b~lano~s to th~ a~di~ df~~ny ~oeouna, indudin~ i
` crust snd ~pMey aeeountt m~inqin~d withth~ BM+k by sny of the Oblippr~, and the abliqon pr~e to dNivK to th~ 8ank sdditional'CollataN or m~k~ weh
paym~ntt in nduetiof~ oi th~ pincipN smount oi tM !ou? a~ sfisll W sstisiattwy to the Bsnk, in tM av~nt the atorNntnciorad CollaarN shsil d~din~ in vslw 1
~ or bltpm~ uraatiffsCtory t0 tM Bank. ' ~
~ AdditioM to, nduCtions w txehanpa o~, w wbttitutiota tor th~ Collattral, piymtnts ot~ aecount of thi~ losn or incr~~tt of tM sarrn, or oth~r losn~ mad~ ;
partislly w rAwlly upon tM Collataal, may from tinN to tims b~ nud~ without affectirp ch~ provisions of tAit Nou. TM B~nk ~hsll ~z~rus~ r~onabl~ esr~ in
the custody and pr~vatio~ of tM Co11atK~l to tlN ~xta~t rpuir~d by applicsbl~ statut~, snd ~a11 b~ d~~d to haw ~x~rciad ~MSOn~bt~ an it it aka wc~
acuon for th~t pwpoa u Msk~r tlwll rqsaybly nquNt in writins, but no omission to do sny ut not nqu~sad by Maka dull be dNn»d ~ failun to ~xuciw
~easonabl~ pn, ~nd no omiaion to comply with any rpueu of MskK ~MII of itself be d~tm~d ~ failure to ~xKCi~s reaonabN cut. Bank ~hNl not be bou++d ~o
take ~ny st~ps Maauy to pns~rw ~ny ripF~t~ in dw Co1latKS1 aytintt piar pktiet and Maktr ~fqll tsks a!1 rnoeqary stpt for weh purpoN~. TA~ BM~k o~ ~ts j
nominN nMd not eoltact inanst on, a a prineip~l of, ~ny Cdlaanl or piw ~ny notiw with reipat to it.
TM BNtk m~y oontinw to hold Mry Colt~tKN d~poiit~d htrN~nd~r sftN tht psyrmr?t of this Noq, if st tM tirtN of tM piyrntn[ snd di~charpt htr~of sny of
t1?~ pivti~t liablt tor tht p~ym~nt hK~of ~hNl b~ th~n dinetly or oontinya~Hy Ii~W~ to tM 8ank as Msk~r, endo~ar. wnty. yua~to. a aooorexewdation ps•ty ~
of ~ny otM. nott, dr~ft, bill ot ~xdanp~, or othw inst?uma~t, a odwrwis~, and tM 8ank msy MapftK exuca~ all ripha with rap~et to aid Co11ac~+s1 ~
grant~d her~in wa~ thagh this Noa thall h~w bN~ wr?M~d~nd to tM IN~k~r. i
If th~ 8ank durrr~ italf im~curt a upon th~ happ~Mrq of sny of th~ /ollowirg ~nn, each of which shall oor?stitut~ ~ d~fault, stl liabilitia of weh bt~ker to !
che Bsnk, inefudirg dk ~nti~~ unp~id principN of thb Nob and aarwd in~nst. lai ~ny urwsrmd int~r~st and sny inbrat in ~xo~a of th~ mucirnum allow~d ?
by law ~nd'any nbstes rpuir~d by law. ~II imr»diatah? o? th~ttsfqr, st th~ option of fM 8~nlt. ~xppt thst tM oocwrMO~ of (C} o~ (d) ~ItMI CauN automat- {
¢ ic soubntion:wid~out notia ad~nwid, b~oonrdu~ and p~yablt: (d tM f~ilurs of aW ObliDor to pKto?m ~ny oblip~tion, li~bility o~ cbim to tM 8ank, to p~y ~
d mcerpt hKeoe withie 10d~ys aft~r it is dw. w ii tMr~ a no dw daa. ~ftN it a bill«! a od~rwif~ r~quaad or d~nd~d. a to pay any otl+N Ii~bAity what- ;
~ soevr. to th~ Bank wMn dw: (bl tM dqtA o! any indiridual ObliOor, th~ diaolution of any p~rtna~hip Obliya a cM diaolution. m~rq~ o? oon~olid~tion wiM- ~
out tM 8ank't prior vKitt~n ea~Nnt of ~ny eorporaq Oblioo?: (e) f!N tilinp ol ~ p~tition in b~nknp~Cy or 1M ~udie~tiOn of iMOh~M~1,y or b~nkrYpoty und~K
~ any ..o.q~niz~tion, ar.n~rn.nt. n~d'iusurrne ot d~br. di.dueion. ~fvuid.tion o? fimilar proe.~di~q undu sny F~dad ~o. :ua scatua, by or p~i~ac a~w f
~ Obl,yw: (d? an appliqtion to~ tht ~ppointn»nt of a?~aivK iqr. or tM m~kinp ot s,~?~ii~i`p~nwnt for tM b~n~iit of cnditors by. uW Oblgor: (d tM a+try i
~ of ~~pnw~t aq~imt any Oblpa: (tl tiw Nwinp of any madfm~nt or y~nfthnf~nt, o~ th~ fNirq oi any li~n. p~imt ~ny prop~rty ol a~y Oblpor: th~ tdci~y oi ~
Pas~usioe of any wbstantial0~rt ot tM P?op~rH oi any Obliow at dr imtano~ of amr qov~nrtwntM wthaiq: (h) tM cMtt~miMtion by th~ daMc that ~ nrt~ri-
~u
~ al advsrt~ eMrp~ Na~ oopur~d ie tM finM~cW oondition of ~n11 ObliOw from tM ewiditioet at torth in tM mwt r~cant fin~ncial sqMnNnt M wKh OWipr 1
haretofa~ furei~Md to t1M 8snk, w iron~ tla eondhion of wch Oblipo? sr h~rttofort moa no~ntly di~dowd to the BaNc. a chat any w~rnnty. nWwnption. i
ce.~itiua a~uanrnt of .ny Ob~qa iwMeh~. oonaimd ~n thi~ Nou w notl vwt.ini~q co o. in oonneeeion with in~ Noa a cM ~wn wid~~ad br u~y Iroa
ux?uin~ ao untrw nat~nt M n~t~riN f~ct w omip to ttw nrtaiaf f~tt mo~aary in ortNr to rmk~ t!r sut~rmnts rt~ad~ not rnwNadi~: o?, (i) cM ~ip~ ~
ment by ap? MlkK M any ~qulty in sny M tM Colbtr?sl witbout th~ priot w?ittM torn~nt o( tM B~nk.
Th~ 8ank d~sll htvM. but th~ll not b~ limit~d to, t!N tolbwinp ti¢~tt, Mch ot whief? m~y b~x~rciMd at any tinN wMihN or not d~n NoM i~ dur. (i) to ;
P~~ a t~Nf~? thir Noq snd tM Coll~twM snd tM BNik thNl tMr~n~poe b~ rNf~wd o1 dl dutiN uid nlpon~ibilhMs INrwr~r ~nd rNi~wd hotn aM/ and MI ;
liabitit~t with roqet to at~ Colbt~ral io pl~d~d w usnsf~n~d. and N?1? W~dYM o? t~a~uf~rN ~11 to~ all purpoM~ tt~nd ie tM pbq ot tlw 9ank hMwndu and t
hav~ aN tM riOha oi tM 9snk hKwndK: lfi) to tqnd~r th~ w1aN or ~ny prt of th~ Collabr~l ~to th~ nanr of iwli a ia nanhw~: (iii) co vot~ tM Co14t~?al: i
(iv) w nacihr tlN Obli9wt o1.rw Co~l~ma1 to nrk~ paynw~c eo dN Brnk of ~r?v .mouet~ dw o. eo b~eonM d~r chKwn: (v1 co d«~w~d. w fa. oo11Kt, or ~ i
~i ~ ~~NK~ as use~ ~iiere~n
m`~eans ~ur~e`~Ree~~ssoc~°a~es; `Y"nZP°"and~/~r°°~~s °as~'~~
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NOTICE: SEE OTHEH SIOE FOR INFORMATtON x ~ '
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Fes ~s: a.,~. ~n~ 6Q*~X PASE
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