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Home My WebLink About0457 . . _ . ' . ~ INSTALLMENT PROMISSORY NOTE TUR`i1E ASS3CIATES~ YkC• ~ (Al Amount ii~csiv~d : a.302_87 9ANK AME (B) Pranium for Qr~dit Li(~/Oit~Wlity Int. • a 11011e P.O. ~OX b18. JE."iSEN R~AC!!. F1. 33457 (C) Docum~nary Sumpa OFFICE ADORE (O) OthN CharpM (itNnizf) :JjQ~~ IEl = ~c»~ NOTE NO. a?TEa Apri 1 11 ,19 78 _~,l~ oue: Apri 1 26 , t9 (A B C FD. E~ 1 =~•3~: ~ (H) Intentt = ~.s~-~ PIACE: . FIORIWI (1) Cr~dit Invptip~tioo (J) OtMr t Fw wlw r~uiwd, tM und~rsqrNC! (hKtinaftK calbd "Nlak~r"1 lointly ~nd s~ally (N (K) = nti mor~ than o~ promit~ to psy to tha ordM of t!N B~nk at in offip listed abovr, tM ToW of Paymtnq (from (NI at ripht) ot ~i3,;67.~ • Ooll~rtpaYsbN in ~ (u = l~i~ equai ma~MN i~wim~na ot i ~04.73 , tM fint ~M) FINANCE CHAROE ~~uf~. ~ inscallm~nt dus on ~ 26 ~ 19 8. s~cf wb~qw~+c insallrmna dw on (H, 1, J. K. L) t . INl Totsl of Psyrtrnts IG + M1 = 23~ I b7 - Hd che 26 of ~h month thK~aftN, tog~tM? wiM ~ FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAOE RATE j~~~ S ~ • DUE ~~NN~rr~~rr~~~~~~~~~~a?r~~.~.w TM Bsnk slall impost s dNinqueney chs?gt syiirat tM MakK on smr psymN?t which hss b~ean~ dut and nrt~iru in dsfwlt to? s pKiod in expa of 10 days in an amount equal to 5% of the amount of tht principal psrt oi tM psyment in d~fault. In the went Mat tM Note is not psid in full st.msturity, ~II psy me~ts, wheth~. principal, inte~est or othervvis~, shall bsar intKest at tM maximum legal nte sllowsd unde? the Isws oi the Stat~ of Florids. All psymM~tt matM hereunder sh~ll b~ cndit~d tirst to interest and tbe~ to principal, however, in the event of dsfault, tM B~nk m~y, in its tde di~cretion, apply sny paymset to interat, p?incipal snd/or law(ul chsryes then aocrued. It is tM i~tention ot the parti~s M.sto that the provisions hersin shsll not provid~ direetly or indirectly for ths payms~t of a greater rate of inte~est w tM rotention oi ~ny other charge than is sllowed by law. lf, fo? sny rtason. inter~st in expss oi wch IpN nte w a char9e prohibited by law shall at any tims bs paid, any wd+ exoess sAsll either constituce and be t?sated as a psyment on cM principal or b~ niunded di?ectly to the Mske~. . The Msker may prepay the entire w+paid balance of the Iwn st any time. If the loan is prepaid in full, aooelerated or ~efinancsd, the Maker shsll receive a refund of the unearned portion of the interest and inwranoe premiums computed by the Rule of 78`s method, ezoept that the Bs~k thall be entitled to rotein a minimum interest tharpe ot s6.00,' CREOIT LIFE AND CREDIT LIFE d~ ~ISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CRE~IT. Sud~ inwranee tovtrage is available at the cost desy~nated below for the term of the aedit: (a) S tor Gsdit life Inwrance (b) S for Cndit life ~ Disability I~surance: Check ? Gcdit Life liuurs~ce is desired on the lite of Appl. - Birthdate Boz ? Gedit LifE & Oisability Insurance is desired on r+~ Birthdate tP~ Gedit life and/or Disabitity Insursnce is not desired. Date: Apr~ ~ 11. 1978 Signature ~ Signature g As security for the payment of the Note the Maker hereby grants to the nrc a~ ~n erest in the foli ng proper~ti r'r~`~ '~fi;~~ a~~:P int~:~•es~ iti Tt~rtl~~ ~;~ef Cc~icE. I. recnrc~~a int!_P_ Geak ?r3, Pa~;P ~2--t~i 6tAr~Y~a~ 7{.--.*+ ~~nrt 7.~nt- t~n- !~7 as ~str~he~ tR s~tr aartg~~ . includinp all increases, wbstitutions, replscetnents, additions snd atcessbns thereto and in the p?ooeeds thereot (hareinafter called "Collatersl"1. Thit sceurity interest shall also ~ecure any other indebtedness or liability of the Maker to the Bank direct or indirsct, absolute or contingent, due or to betome due, now ex- i isti~g or hersaftN srising, including all future sdvances or loans by the 68nk to the tYWker. Tht 8snk is also given a lien a~d a seturity interest in all property and securities of the Maker, erKiorser, wrety, guarantor o? sccomrtadation perty of this Note (Mreinsfta nierred to as the "Obligc?rs"l, now in or at any time he?eafter ooming into the control, eustody or pcissession of the Bank, whether fw th~ ex- ~ pressed purpoq of b~irq used by ths Bsnk as Collateral, or for any other purpose, a~d upon amr balance or balances to the aedit of any socou~tt, includirg vust se~d ay~ncy sccounn m~intaincd witnthe Bank by aMr of the Obligon, and the Obli9ors agree to dNiver to the Bank additional Collateral w msks wd~ f payments in reduCtion of th! Wineipsl arnount of the loan as shall be satisfaetory to the Bank, in the event the atoromentioned Colleteral shall decline in value ~ or become wnatisfaCtory to che Bsnk. , Additions to, reductions w exchanges of, or wbstitutions for the Collaterat, payme~ts on aecount of this loan o? inaeases af the same, or otAer losns msdt partially or whotly upon ths Collaceral, may from time to time be rtiade w~thout aftectin~ the provisions of this Note. The Bankshall eze~cise rosso~able care in the custody and preservation of the Coll~teraf to the extent required by applicable statute, and shall be deerned to have exercisad ressonaWe csro if it tskes wd~ action iw that purpose ss Maker shall reaso~ably rsquest in vKiting, but no omission to do amr xt not reQuested by Maker shsll be deemad a failure to exercise reasonable care, and no omissio~ to comply with any request of Make? shall of itself be deemecf a failure to exercise ressonebte care. Bank:hall not be bound to take any steps neceuary to preservs any rights in the Coltatasl a~ainst prior parties and Maker shatl wke all necessary steps for wch purposes. The Bank or its nominee need not cOllett intersft on, ~r e prinCipsl of, sny Collateral or give any notice with respect to it. The Bank may continue to hold any Collatersl deposited hereunder atter the payment ot this Note, ii at the time of the payment and discharge hereof any of the parties liable for the psyment hereof shall be then directly a coniingently liable to the 8aok as Maker, endorser, wrery, guarantor or accommodation party of any other note, drsit, bill oi axcAange, or otha i~strument, or otherwiss, and ths Bank may thereatter exercise all righcs witl~ ~espect to said Collateral grant~d he.sie awn though this Nou shall hsv~ bee~ wrrenckred to the Maker. If tAe Bsnk deems itself inslcurs or upon the happening of'aey of the following events, each of which shall Corutitute a default, all liabilitiss of eseh Maker to the Bsnk, includinp the ~~tire unpaid principsl of this Note and sccrued interest, less any un~rned interest and any interest in ezoets of the maximum sllowsd by law snd sny rebatet required by fsw, sh~ll imr~diatNy or ther~atter, at the optan of the Bank, except that the oocurrence of (c) o? (dl she11 csu~e sutomst- ~ ic accNeration;without notioe ord~rtw~d, becanedus snd payable: (s) the isilure of any Oblgor to perform any oblgatiw~, liability or daim to the Bank, to psy interest hereon within 10dayt sftsr it is due, or if the?e is np due date, atter it is billed w otherwise racyuested or demandsd, o? to psy any other lisbility what- soever to the Bank whe~ due; (b) the death of amr individuN Oblipw, the dissolution oi sny pertnenhip Obli9or w the dissdution, me~r or oonsolidstion with- out tM Bank's prior written co~sent oi sny corporace Obliga; (c) the (ili~g oi a petition in bankruptcy or tt?e adjudication of insolwncy or bsnkruptcy unds? _ ~ any reprpanizatio~, arranyemsnt, r~sdju:tment of debt, ditsolution, liquidation or similar propeeding under any Federal Or stsM statute, by Or spsirKt any ~ Obligor; (d) an application for the sppointment of a reoeivsr fo?, or the makinp of a general assignrt~snt for the benefit of ~aditas by, any Obligw; (e) Ms tntry g of judgment apsi~ut any Obligor; (f) ths iswing of aM? att~chment or ysrnishment, w the filinp of a~y lien, apainst any property of sny OWgor; (y) th~ bking oi ~ possession of any substsntisl pan of the property of any Oblqo? at the iratance of any yovernmmtal suthority; (h) the decermination by the Bank that s materi- ~ al adv~rse d~srg~ has ooturred in the financial oo~dition ot m~y Oblipw from the conditions set (ath in tM rtwst recent finsncisl stetert~ent of wch Obliggor ~ heretofwe furnishad to the Bank, w from the condition of wch Obligor as hsreto(ae most rxently disdosed to d+e Bank, or thst any vwrranty, ~epr~sanqtion, certifipu a statem~nt oi sMr Oblpor IwhetMr oonbin~d in this Note a rat) perwininy to or in oonnection with this Noa w tM loa~ evidenad by this Note concai~u a~ untrus stetement of materisl fact or omin to stste materisl f~ct neceusry in order to make ths stetements mad~ not misl~sdirg; w, (i1 tM suiyn- ment by sMr Mslw oi sny puity in my oi tM Collatenl witl~out tM prior written content oi tM Bank.- TM Bank shsll haw, but shsll not be limit~d to, ths idlowinp rghts, esch of which may be ~xercised at any tims whetha or not this Nou is due: (i) to pledp~ a tr~rufa this Noa a~d tM Colbur~l end ths B~nk shs1l thereupon be relieved of all duties and raponsibiliti~s hereund~r a~d rNNV~d t~om any and all tiability with r~t to aMr Colbural so pt~dp~d ~x aarai~rnd, snd anY Pl~d~ or transie.es shall for all purposss stand in the plac~ of tM Bsnk hKwnda snd havs sll f!M ripha ot th~ Bank Mreundsr; (ii) to uuufN th~ whoN w amr put oi tM Collste.sl into tM name of itself or its nomin»; (iii) to vo» tM Collatenl; - (iv) to notify 1M Obliyo~s of any Colwmsl to rrnk~ p~yment to the Bank oi any amouna dw w to beconN dus tMreon; (v) to dem~nd, sue for, collect, o? mak~ any cwnpromi~ or ~sttlem~nt it ds~rns dairoble with nffrtnce to the Co11st~.st; and (vi) to uk~ possestion or control ot sny proos~ds of Collatenl. ~ *"~AI~K'' as uscd ~serein .:~c~;i~s Turt,e ~'ECf I'ssccaL-!~~, Irc. ar.c~/or it~ assi~r-s. ~ NOTtCE: SEE OTHER SIDE FOR IMPORTANT INFORMATION ~ R Fes ~s2 R.~. ~m - 600K 312 PAGE 45~ ~ ~ ~ - ~ ~ -