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R ~ INSTAI.LMENT PROINISSORY NOTE ~ +
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~ TURTLE REEF ASSOCIATES, INC. * t~ ~~,a.n;,,~ = 5,824.00
~u+K N~e 19) P~nmiwn 1a G~di~ !
Je~sen Beach , Fl or1 da 33457 . ua~oa.wuW i~.. = none
~c~ ooa?~an? st.~w s_._.none - ,
. oF ~c R . (0) OthM Ch~9p (itanli.~ = no e.; . .
_ , s none
NOT~ NO. ~ DATED: Jan. 30 ,1979 ~ f~ = none
~a r?c~ww+t F~o~d 5 ~824.00
~,E; Feb. 16 .~s99 . _ a. c. E. F~ .
~H? ~i~~.?.,~ t ' •
'•~qC~: . . FLORiQA (1) Cndlt InvMtiy~tion =
lJ) OtIM~ _
Fw wlw ne~+wd. tM Y11d~ffi011K1 (AK~iM~tN C~INII "Maku") jointh? snd ~Nly (if (K) ~ :
more th~n on~l p~omis~ ~o p~y Ro tM o~r Q~ ~ik. at in otfic~ tisud abovs, ~IoM . -
o~ PaymN?a I~rom iNl ti ri~hcl of~~• ZD polpn p~yabb M ~ W t
76. y4 ~ v ttiu F~I~c.~ CNApo~ 3 411.2 ~
puN monthiy instdl [s o/= . th~ firft IH.~1.`J,.K. L) - = s
~~uallnrnt dut on ~~~h .18_. and wb~qu~nt iostsllm~nts dus on (N) TotN ot s • .
tM 16~ ot ~h~wnth tMrpitK t N~ wiM : FINAL BAILOON PAYMENT OF: ~~a t6 t M? _ ~
nvn s°a! ANNUAL PERCENTAOE RATE • %
t QUE - .19. _
TM Bsnk d~all in+por ~ dNi~qwney eh~rq~ s~imt eM IriakK on a~y psyma~t whieA ha~ Wean~.dw arid nmalns in.dhault for ~ pKiod in ~xa~ ot 10
days in an ~amouet eqwl ta 5% ot th~ anwunt ot th~ priec~pal p~rt oi d~ wym~nt tn d~tw~c. In tM wrnt that th~ Not~ h eot piid in ful n matu.ity. al~ p,yr.
m~nn. wheth~. prineipsl. intKpc or oM~wi~. shdl bar intsrat ~t tM mucinwm Ipd r~ts a1low~d undw tM faa of tM Stab ot Ftor' All paym~na msdr
herwnd~r shsll W e.«lit~d tirst to i~t~rnt and d~ to p~ie~p~. howrver. in th~ ~wnt o( d~fault. tM B~nk mry. in it~ soN disention. anY p~ymant to
~nceras~, principN and/a Iawlut ch~rgp eMn ~ouwd. It is tM inta~tion Of tht psrti~s hsreto th~t tht provisions Mnin shNl oot P~ovfd~ dibctly or indirectly
(or tM paym~nc of ~~rqc~ at~ of ieter~t a tM ntention of ~ny oth~r d+uy~ chan i~ dbwsd by law. If, for ~ny r~on, inta~st in ~xa~ ot ~ueh I~yd nq a
a ths~ PrOhibibd by Isw shNl ~t any timt tN piid. ~e1? fuCh exqts shall litA!? COnttitut~ and bt tnatM as s psyrMnt on th~ prineipal w-~itfundK! dir~Cdy
to tht AAdcK. -
TM M~k~?m~y p~apay th~ eini~e unp~id bslsnp~ of~th~ Iwn at ~ny tirr~e. It the loan ~t pr~p~id In full, KqlKatd a niinfnqd. th~ A~41cK shall nqiv~ a
i retund of ~he unarmd portion of,tM inta~st snd i~ur~ premiums carputod by tM Rule of 78's m~tbod, txapt Mat Na Bank shN1 I~ ~ntitNd to nain
_ a minimum intw~tt chu~ of s6.00.
CHEDIT LIFE AND CREOIT LIFE 8 OISABILITY IMSURANCE ARE VOIUNTARY AND NOT RE~UIRED FOR CREOIT. Suth inwrand covKa~ is
avsilable ~t tM cost dasipnsted ~elow for tM t~.m of tt~ credit: (a1= fa G~dit Life Inwr~na (b) i
lor Credit Life te Oiqbility Inwranof:
Ch~tk ? G~dit lii~ Iruurar~ is d~sind on tM lite of
App~. - 8irthd~tf
Box ? Gadit lite ~ Dissbility Itnuranct is desirod on
' - . thdate
C9 Credi~ Life and/a Oissbi~ity Inwranoe is not desired. ~ ,
Oate: ~ ~ 7 Synamre
SiQostu?! •
As qwrity fa the payment of the Note the Maker Mraby 9renq to tM Bsn a ~tv nurat ~mn~e t ~ a In Turt~ Reef Cond. I~~
r~cerded in D.R. ~k 263,,Paae 235..Un1t Neeks IS ~nd 19 1n Cond.~-~~p . o. - as ~
cies~t hed i n sai d s~or~tgaaa. j
i ~ncludinp sll incrMS~s, wbstitutions, nplsc~rn~nts. ~dditions snd acpssions thereto srxl in the proce~ds thenot (Mnin~fter ull~d "Collateral"1. Tha s~eu~ity
inter~st shall ~bo ~sairi stiy otMr i~d~bt~dn~ w liability of tM Nbker to the Ba~k direct or ind'uett, sbsdun or eontinp~nt, dw d to b~com~ dw, nav tx-
~st~ng a Mrninr s.aing, intludin~ ~II futu~e sdrsnas or los~u Dy the Bank to tM M~ke~.
~
E TM 8ank it also piv~n s li~n ~nd s s~curity interKt in all property and seturieies ol tl~ Mikcr. endor~r, ~urtty. ptw~ntor or atcotnmodation p~rty of M~s
Note (Mr~inaiter nfarnd to ss tl+~ "Obli~as'1, now in or at ~nY tirrN MarMfeer comirg into the conud, custody or poaKSion ot tM 8snk, wMthK for t!~ ~x-
I pnssad purpole ot btino uted by tM 9ank at Collataal. p tor sny other purposl, snd upon ~ny bslsott w btlantls to iht v~dit at any aotounts, includinp
~ t.ust snd apen~y aetountt msint~insd withtM Bank by sny oi the Ob~ipon, ard the Ob~ipon aprK to daliva to cM Bank sddi~ional Collataal w m~lce weh
paYmtrta i~ r~duction ot the p~intipai smount of th~ loan s~ shatl b~ atafactory to tAe Bsnk, in the went tAf afortm~ntior»d Collat~rsl sl+sll d~dir~ i~ wlw
o? becqrN u~ustistittory to tlN Bsnk. - .
Additions to, r~ductio~x w exel~sn~s ot, or wbttitutions /or the Cotlatsral, psymsnts on aecount of this loin p incr~s of th~ prM, a othar losns mW~
partially w wtwlh upoe tht Collataal. may frwn tilne to tima b~ rr~ade without stfectiry tht provisions of thK Nott. Tht 8anktMll ~ztrcift r~sonsbl~ tan in
the tuftody and pr~servation of tM Collaaral to dN ~xt~nt ~equind b~/ applicsble satute, and thNl be dNm~d to bsv~ ~xMCiqd rN~onabh pn if it t~kp s~dt
action fo~ Nwt purpoW a 1M~rka•sh~ll rpsoMbly nqwa in wri~irg, but no omission to do sny act noc rpuaad by IN~k~? ~hNl b~ dN~n~d i fa~un to ~x~reik
~easonaWt eK~, and no omision to comply with any rpuac ot Maksr shall of itssli be deemed a f~ilurs eo exKCise r~a~onaWe csre. 8ank dull not be bound to ~
~ake sny stqs n~uy to pra~rw ~ny rqhn In tAs ColbtKat aqsi~t prior p~rties ~nd Malctr shstl tske all necessary st~ps iw wth purpwtt- Ths B~nk or its
nomin~ nqd not oolqet inttrpt oo, or a principd oi. ~nY CdlstNal or ~iw any notke~with retp~ci to it. -
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TM 8snk mry continue to hold ~ny Coll~tasl dposiqd haeunder dta ths payma~t of this Not~, if at tM timt of tM psyrrrnt snd diuhapt hereot any of !
tls~ parti~s liabb fo? tM p~ymMt Mnof ~l~MI b~ th~n dinctly or oontinyently tisbN to th~ 8ank ~s Msker, endorser, waty, 9uusntw or ~ooortNnod~tion p~?ty ;
of sny otMr not~, dnft, bill o/ ~xd~srq~, or otMr imtrummt, or od+awis~, snd tM Bsnk msy thupft~r exereis~ sll ripha with rypect to s~id Col4terN ~
grillt~d hNlN11 f~l~f/ thOY¢I thit I110t~ fhill hM bMfl NN?~fld~t~d i0 t~N ~kN. ~ ~ ~ . ~
If the 6~nk dums icseti ins~cun a Won tM hpp~ninq of sey of the followinp eva~ts, ~ach ot which shall oonstitut~ s d~taul~, ~11 lisbiliti~s of peh M~k~r to i
the Bsnk, inNudirg ~~ntin unp~id principsl ot thit Nou snd ~ceru~d.inar~t, las any ur~ned inarut snd any inanst in ~xwrs ot tM mucinwm Nlowrd j
by 4w ~nd any nbsta nquird by t~w. ~hsll imnMdiaaly or dNnsfqr, it dN option oi dw Bank, ~xapt thst da oocw~ena of icl a ld) d+aN cawe ~uton+ac• ~
~c acceteration: without netip w d~nw~d, brooem due ~nd p~yabl~: th~ fsilurt ot ~ny Oblipor to qriorm sny obli~tion, li~bility a dsim to t!N Bsnk, to p~y
~ inurqt Mr~on within lOds~n ~fta it is dw, or M tMn it no dw d~a, afta it is bilNd a od~wis~ rpuat~d or dNnatd~d, or co pry ~ny otMr ti~bility what-
~ soevw to tl+~ B~nk wh~n dw:16) tht dpth of any individual Oblqor, tM d'acdutian ot anlr patn~~hip Oblipw or tM di~Mution, nw~ or oonwiid~tion with-
out tM Bsnk's priw w.itta+ cora~nt of ~ny corpont~ Obliqor: (e) th~ filinp oi ~ pttition in b~nkruptcy or tM sdjudidtion of in~olwncy w b~nkn~ptcy unda
~ any r~wp~ni=ation, srranp~nt, n~djustnwnt of d~bt, di~solution. liquidation a_ sinu'hr proeMdir?p under any F~dusl or sqt~ statuu, by or a~in~t anY
Obl~gor ldl M ~ppliption fp th~ ~ppoi~tm~nt ot ~?~u1vK fpr. o? th~ n»Itirq d s~lr~etll s~ipnrtMnt for th~ beewfit ~t u~diton by. sn~? Obli9or, tA~ N?try
~ o~ wdyre~~t psimt mY ablipor: fft tM i»uirg of anY attaebrtwnt or p~rnbhrrMnt. or tM filinp of sny liu?, ap~inst anY P~~?~Y o~ r~1? Oblqor: {i) eM qkin~ ot
~ poss~tiion M sny wbsuntiN ps?t of tM property of ~ny Oblqw st tM i~ntsnq of any poNr~rn~nal ~uthaity: (h1 tM d~tKmination by tM 6ank that ~ nytri•
~ al advert~ ~hanp~ hp oaurr~0 ie tM finaneiN tondition Of any Oblipo? from th~ ep~d'Rio~» ut fortN in d» most r~ant finantial stsumMt of wxA Oblipr
nereto(a~ Iurni~Md to the Bank, w irom the condi[ion of wch Obli~w n ha~cofon mae r~t1y d'adowd to she Ssnk, w that ~ny wsnancy. rp.amaeioe,
~ cer~~fipq a ~taanNnt of an~r C)blqa lwMtM? oont~ind in Mw Nob a notl p~rtainirq to w in oonn~ction wiM this Non w tM losn ~vid~npd b~r tAa Nore
cnntains an untru~ ~qtNrrnt ot rmt~riN faet a omiq to ftatt m~tKiN i~ct rnc~ry in order to rryk~ t!N st~t~nNnu rn~N not mitlMdiro; o?, (il cM ~F.
ment M? +~Y Wlw M sny ~quity in ~ny ot tM Colltt~rd witl~out th~ D~iot writtln tOnMnt of th~ Bank. _ . '
Th~ Bank ~hNl haw, bue fMlt not b~ limiqd to. iFN tollovrinp riqhq, aeh oi whicb er~sy b~ ~xKCa~d ~t any tiirN wh~tha or noe tf+i~ NoN a dw: li) w
P~~dp~ or tr~f~r tba Nob ~nd tM Co11~qrM and tlN 8anlc Nfll fNi~a~d of all ~futia ~nd nlponsibilkiN f~windK ~nd rNi~wd hom a~lr and all
iiability with rMp~ct to anY Co1NarN w pMd~d or tr~t~n~d. ~rd~a~M~~ or tran~f~ rhMl to? all Pu~P«a aand in tM P4o~ ot th~ Sanllc t+M~undK snd
hav~ N1 tM rfOhes of NN Bank h~rwndn; (ii) to enndK tM whofi a sny prt of th~ Coll~awl into tbs n~rtr oi itwlf o. ia ~ominM: INil eo votr dr CoN~ard:
I~vl co notify da Oblipon M sny Co1lsa.st to msk~ Pwman to tM BrMc of anY anwwro dw or to broon» dw dNnon: (v) to d~n~nil. wN fo?. wlMet, or
~ ~k~ ~y ~*~'B~NK~ as~use~t ~er~e~n m~eans ~ur~e~Ree~~ssoc'~e~es; `~n~. an or°O~~s ass~°`pn°~~' .
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~ NOTICE: SEE OTHER tlOf fOR IMPORTANT IN~OAMATI !
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Fes 752 R•v. 7/~7 ' • - _ ~
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