HomeMy WebLinkAbout0091 _ _ , ~ _ .
. - . . • ~ ~ :
i ? /
• ~ INSTALLMENT PROMISSORY NOTE a ~
•
~ TURTIE REEF ASSRCIATES, INC:~ ~ i~ ~,,.d = 3,32I.OQ _
~ N~~, - is? ~a c..a~e none
Jensen Beach, Florida .33~57 u~•~01~''~'~ • ~
~ ~ct oownwn.rv.st.~o. s ;
OFFIC aess ~o~ oeh.. aw?~ ~+am~:.~ = no e
- = none
Oct. 30, none
NOTE NO. DATEO: . 19 8 (F) _
(0) Anaunt Fl~r~!
OUE: 11' . 19 $3 IA. 8. C. D. E. FI t 3 •
~ (H) Inq?~t = •
PLACE: . F~ORIDA (1) G~lit Inwlti~tion
For v~lw npiv~d..th~ undKSipn~d (hu~inNtK eslNd "N4kN") jointly ~nd sw~rslfy (it (KI ~
ma~ tAM ontl promit~ to psY to th~ ada nat iq Afiiq Iqqd abovr. tMqr ql '
01 Paymt~ts (lrom (N) ~t~ripht) of~~~
: " • OolUrsp~y~b4 in (U :
.~w~ e~w~+e~ti ir~eNM~na t ! i~ , ~M ti~e !MI fHl '.NANCE`d1AR0E = 913.20 :
i~ t dw on • 1~ .19 . ~nd wMqwnt instalim~na dw on (Nj Toa of ~n~nri (0 ~ M) S ~ • ~
~M~~y of ~h~wn~ thKattK t tha with a FINAL BALLOON PAYMENT OF: .
I10?i ANNUAL PEqCENTAOE RATE X
oue , ~s-
T1w B~nk ~1 impw~ dNuwwncl? ch~rP p~t dn IWkrr,on uhl MYmn~t whicl~ h~ b~oanN dw and nm~im in d~fwit to? ~ wr~od ~~.xan a 10 ~
dayi in ~n N?~ount ~pud to SXr of th~ amouet of dN prineip~l pi.t ot tlw ppym~nt ie d~tault. in 1M w~nt th~t tM Not~ b not p~W fn tull ~t en~turity, sN p~y
nunts. wh~thK principal. ineNpt or othanvil~. shall bMr Mt~rNt at th~ macimum Ipil r~u dbw~d undK dN IwM ot th~ 8Ut~ oi FlorkM. Ail paym~nts rnd~
he?wodn shNl bt u~dit~d firtt to i~t~nst and dwn to priecipal, hov~wr, in tM-~w~+t of difault, tM BMk rn~y in Ht al~ di~cntfon. +~ppl~any p~ym~nt to
~n~~ra~ prieeipsl and/o~ IaNAu1 chsryn cMn aouwd. It b cM int~ntio~ ot tM partie~ MnM th~t tM provi~bns ~In ~hNl not provid~ dhwily a indlnetly
1a tM pryn~+t of a~rptK aM Of inttrat w dN nt~ntion ot M~? othK ehsryN tlw~ b~Ilowd b~l Iwr. ll. to? ~r rwon, intantt in ~xoat of such NON ap or _
a c1w~ prohibitd by Iwr ~11 at any dm~ b~ psid. ~ny wch ~xe~ ~hali NtMr eon~titua and M dtahd a a pWm~nt on th~ pNncipd or b~~ltund~d dk~edy
to th~ UA~k~r.
Th~ Msk~r msy pr~r th~ ~ntiro unp~id bNsna o~ dM loan at any tim~. If th~ Iwn k pnprid M full, upbr~t~d or rtlin~nad, t!N IIAakK ~hall naivt •
refund of ti~ unp.Md Ponion ot the intKat and inw.~nq premiunK canputsd by tM Rul~ of ~8'~ m~tbod, ixppt that tM 8ank tAdi b~ ~ntitbd to nUin
a minimum interat dwy~ of ~.0~. .
CiiEO1T ~IfE Al~b CREOtT IIFE a OISABILITY INSURANCE AR~ VOLUNTA~iY ANO NOT qE~UIliED FOR CpEDIT. 8udrimursnateaw?aMb
aralyW~ st tM cott d~st~nstW bNow tor tbe t~rm ot tM u~dit: (d s tw Cndit Lff~ I~aunnc~ (b1 :
fw G~dit li~f 8 Disability Inwano~: _ -
CINek ? G~dit lit~ Imursnq h dairtd on tM litt oi
Appl. ~irtlfdat~
Box ? Gedit Lite 8 Dissbility Inwr~no~ is Wsiru! o0
Buthdat~ -
~ G~dit Lite and/a Dissbility lewranq is not desired.
o,~.: Oct. 30, 1978 s;~,,.t„m
~ ~ - ~
~ . S+ynaturf • . .
r n. o+ ~ ~n. M.k.. .o ~ ~ in .a~ i ~ In__ Turtl e Reef Cond. I
recorc~eg ~ n~'~. ~oo~C Page~~: . ~n~ ~I~ee~C ~ ~n ~on~. . ~o.
ir sai~+ mr~rtgaqe.
~ncludinp ol incrpses.. wbltitutions, replacern~ntt, ~dditi0ns and atqssionc tMreto ind in tl~ prop~dt the?wt (henirqftN pll~d "Co11atKN"l. Thit qwrity
~ ~nc~rat shsll al~o s~cu?~ any othN ind~bt~drr~ or liability oi tl~ Msker to tM B~nk dinct o. indinet, ~olute or continp~nt, dut or io bKOn+~ dw, naw ~x-
; istirg or hNpitN arain~, includirq ~Il tuturo adv~ a lo~ns by th~ B~+k to iM Mske~.
I
~ TAt Bank is aWo qivrn a lien and s r~curity ieuntt in all properH and ~ewriti~s oi the Msk~., endoner. anty. ywr~ntw or xcorrwnodstan pwq of ~ha
I NOU I1N~tMiftN /f/MrW to ~s tM "Oblgors'7, now in a~t sny tirn~ herwiter comina into Me conaol, antody or po~session ot ~h~ Bsnk, wM~M. tor th~ ~x-
F D~~d OurDO» of ban0 u~6 bY tM 8snk u CoI1~tKN. a for smr othK P~?Dos~, and upon uMl bNana a bdsi~ to tM u~dlt oi anV ~ocouna, indudinp
t~ust u~d p~ney aooouna n~inuin~d withth~ B~nk by ~ny of th~ Oblipon, and tM Oblipo?s syr« to dNivM to tM Bsnk sddition~l Co1latKd w mMc~ weh
~ psyrtwnb in nduetiat of tM printipsl smount of tht !wn as shall b~ tstisfsctory co tM BM+k, in tM went N~t afonrt~entiaNd Colbtenl ~hsll d~diM in valw
or b~tarM urqatitfactory to tht 8s~k.
Additions to, nduction~ o: ~xehan~s oi, or substitutans tw tM Cotlste~sl, WYrn~nq on aocount of thit losn or ina~aas of tht or otha loiru msd~
psrtislly o? wlwlly upon tM Colbt~rN, m~y (rom tim~ to tin+e b~ rtwds without affeeeinq tM provisions of tha Not~. TfN 8ank fha11 ~z~rcia r~onabb car~ in
~he custody snd p.ae~v~tioi~ ot tM Collarnsl to th~ ~xt~nt requind by applicabl~ statute, and ~hall b~ d~md to h~ ~xacipd rMSOn~bN ca~~ if it tMcK wch
xtion fw thst purpow u MsicM d~Nl roaonsbly rpw~t in writirg, but eo omirsion to do ~ny aet not nquaad by Nl~ka rhatl be dMnrd ~ 4Nun w wrei~
.~sson~bl~ an, snd no on+iftion to comply with any r~quqt of N41c~. sMll oi iuelf bt d~sn»d a failun to ~x~rcis~ nasa+sW~ ur~. B~nk ~Full not be Dound to
takt sny stqt neo~ry to p~rvt any ri~q in tIN Co11~Un1 aysintt prior psrtip and Mak~r ~hall tak~ ~II n~oewry tt~p far wth purpo~e~. TM Bank or its
nomin~e iwd. not eolket inepat on. w s prineipd ot. any Cdlat~ral or piva ~rsy nottc~ rrith r~sp~ct to i~. -
TM B~nk m~y continw to hold a~y CollatNM d~poat~d MrwndK afta the paym~nt of thn NoM, if st the tinM of tM paym~nt snd diteharq~ Mrq( sny oi
th~ ~rtip liabl~ (w th~ psy~rnt herwf ~hNl b~ th~n dinctly or oontiny~ntly IisbN to th~ 8ank a~ Maker, endone.. wnty, puaranto~ o~ aoeorrwnodstion paty
ot sny other not~, dr~ft, bili oi ~xcl+aq~, or otlw in~trunrnt, or oth~rwi~s..and th~ 8snk m~y tMnsfnr ~xucia NI riphts with rNp~ct to iaid Collatasl
q~snt~d heqin w~n t1~aqA Mi~ Not~ ihNl Aw~ t~n wrr~~d to tM IMNcK. ~
If tht Bank dMm~ italf inNCUn a upon tM ~M~q M any of cAe follovwny rwnts, ach of which ~hsll oorqtitut~ ~ d~fault, NI Ii~bilitNs of Nch AA~ka to f
tM Bank, includirp t!a ~ntire unp~id pri~ei~l of thb troq and soeru~d inanst, lar any un~rn~d. intK~st ~nd ~ny int~rqt in ~zo~a of th~ rtwcNnurn dlow~d ~
by I~w and sny nbaua nqui?~d by law, d~NJ imn~diaqly w MMnsiqr, ac 1M opsion of tM B~nlc. ~xapt that tM oocwrMq of fc) a(d) ~MII eau~e aucomst-
it aot~br~tion: without notip or dtmM~d, b~DOm~ dw ~nd piy~bl~: (al dN hHYn of any Oblloor to pNionn sny oblfation, lf~ility o? daim to tM 8a+~k, to pW !
_ interest Mnon witfsie 10dsys ~fqr it is dw, or if th~rt it no dus dsb, af~-it,js bi1Nd or od~ ~puht~d or dertunded, w to psy ~ny od+K li~bifity what• !
~ soevar to tM Bank wh~n dw: (bl tM dath o1 any individual OWqo?, tiN diaolution ot ~ny patna~hip OblFpor or tM diaolution, n~r c? oonwlid~tion wiM-
~ out tM B~nk's prior wrht~n coia~nt or ~ny eorporab Oblgw: (el 1M filinp ef ~ p~ticion in Mnkrup~cy a d+~ sd~udiation of irouiwney or b~nkruptey und~r
~ any..~orpsni~tion, arnrq~n~nt. ?NOlusurNnt ot d~bt. d'atdution. ~fauid~tan a simi~sr a~oa~cN~w w~dn «w ~N or ~ae. se~euu.lw o? p~in~t «~r I
Ob~ga: (d) ~n appllqtion for t!N appointmme of ~ no~1vM fa. or tM mrkin~ of ~ p~rN a~ipntrnnt fw dN O~n~fit of enditon by. any Obtf~w: (d tM ~niry y'
~ o} iudyrt~t psimt mY Oblqor: Ifl tM iwinp of anY ~tt~chm~nt a y~rni~hm~nt, os tM fNinp of ~n1? IIM. ap~L~st ~nY PraP~?hl of ~~l? Ob1iYo?: th~ takiM d ~
~ 9oss~aion of any wbttantisl p~rt of tM prop~rty oi iny Oblipr at tM i~tat~a of ~nY Yowrnm~ntal ~uMorit~?:11?1 tM d~tMmin~tion by th~ ea~c tlnt ~ nrt~~- ~
aI adw.t~ dwq~ has oppurd in tM finMfe~l ow~dition d any Oblgor from tF» oonditbe~ ~t tOtth in tM rew~t r~pnt fimneiM ttaun~t d wKh OWipr
herttoiw~ furniiMd ta th~ 8ank, w from th~ eadltion of sueh Oblipor a~ hpttoton mat r~Ny d'adowd to th~ B~nk, or tMt ~ny wrrantN, rpnNnqtion.
ce~tifieaq a tqnnNnt of ~ny Obli~or (vrMtha oontaitMd {n tbN Nob a not) Wrbinitg to or in oonn~etfon with this Not~ a tIN lo~n widrno~d bY thit MoM '
conai~ an untru~ sbam~nt oi ernriN taet or omiv to ttaq nwtuW fact r~wy in ad~r to m~k~ tM stata~nt~ m~d~ not malMdky: a. (i) tM awi~rr
~ ment by-~ny M~k~r oi any puity in ~ny ol dN Coll~qnl without tIN ptior w~ht~n eo~nt Of tM B~nk.
Tla 9ank ~11 hsv~, but qw11 not b~ limit~d to. th~ tdlowinp riphtf„ Meh of whid~ nwy W~xKCiMd at any tim~ wl~[Mr ~ not tbis NoM a dw: li) to
~ M~di~ o? trtntf~t tl~ Not~ ~nd tM Co11stNN rld tlM ~rnlc 1hN1 d1Mtu00e b~ rtli~wtl ot NI dutiM and n~poiwiblNtirt I~rwndK ~nd rNisv~d f?om MiY and ~11
~tsbaHq wtdr rNp.et to «w cou~ard a p~.d~.d « a.n.hrnd. «,d aw p~ o. aany..« ~U ra.u aurao~ ~ana ~n th. abo. ot ai. sMk 1~und.r «~d ~
~ hs~r~ aN th~ ~ht~ 01 th~ dank hwwndp: (lil to t?~i~r the whoM a a~rY w?t of d~s ~o1hNn1 ~to tM r~ o! h~N/ a i» nominM: (11ii to No~,~ Colt~wal:
tiv! co notNy tM Oblqon d any Co1~atKM w nrla p~ynrnt to tM 6anlc d arw ana~nv dw « to MoonM d~w d»noA: fv) m d~+d, wN tot. edbet, w
rr~k. sny a~~r~Cg. a~s uspd 11E1"~111 tl~ans u'f
r~e~Re~e~ssoc'~n~es; `~nC°~ ana'~r: l~s es~s
gi~n°s!"d` d~.
~ '8AIV1 . . _
NOTICE: SEE OTNER StOE fOfi IMPORTANT INFORMATION ~ ~
FBS ~S2 RIV. 7/77 ~
~Q~K 332
: . ~ -