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Home My WebLink About0785 ~ INSTALLMENT PROMISSORY NOTE ~ r TURTLE REEF ASSOCIATES, INC. * lN~ ~„,o~~~ = 2970.00 . . _ . BANK NAMS ~s~ f~ none Jensen Beach, Florida 33451~ uf•ia..e+i~~ i^.. s tc~ o«„~~,ry s~ = none OFF! E A aE ~c? o~n.. cti..~.. t~t«~,~:.~ = none = none NOTE NO. DATED: 5, ~g 78 ~F~ = none pUE: NOV. 18 ,19 83 1~31 Anwunt FinM~e~d 2970.~ IA. 8. C, E. FI ! ' (H) IntKMt t ~ PIACE: . FLORIOA IQ G~dit imrati~tion = - IJI OtM. _ For wlw na~wd. iM undKSipn~d (hKNnNar a1Md "IN~ka") ioinHy s~?d iaverslly (if (K) _ mon than on~) Momis~ to p~y to tM o~r ot tM 8ank. at its oltiq list~d abov~. tM Totd ~u : ot Paym~a ttrorri INI ~t r~phtl or~ Ooi~vs p~ysbM ~n __~Q I~A1 FINANCE CHARDE .vual moe~H+N ~eatal~mN+a~ • ~ - . . tn. ~irsc ~H, K. ~t ~ s 816.60 ~ruullmN?e dw on • . 19____. snd wb~qu~nc iraailm~na du~ an (N) Toql of PaynNna (0 + Ml t • tM~~day of ~ch~onth thKafn.Lto~tM_ with s FINAL BALLOON PAYMENT OF: • qNNUAL PERCENTAOE RATE 10.00 % flpTl S QUE .19' Tn~ 9ank ~hs11 impoM s dNi~y cMrp~ apN~at eM 1N~IcK ~n ~m? a~rm.ne which hp h~oam du~ and ~anair~ M dNw1e fa ~ p~rlod In ~xa~ o~ 10 , days io an amouM pud to S~ of tM snwunt of tM pindpsl pMt oi th~ Wyrtrot M d~fault. In tM wMt th~t tlr Nob b not paid in full ~t m~tuNty, NI p~y mants, wMthK pi~, int~rat o? othKwiN, shali bar inbntt ~t th~ nqxirtwm 1~1 rm albw~d ued~r th~ taMa of tl» 8tab oi Flo?Id~. All payn~t~ mad~ herwr~ sbsll b~ tndit~d tint to intwat ~nd dan to principal, how~vtr. in tM w~a~t of d~fwit, the Bank msy) in iri sob di~ention. ~pply any payn~t to ~ntenst, princip~l and/or Iawtul chsryes th~n soauM. It is tM intMtion of tAe p~rti~t hento that tM provida+s i~Nn ~11 not provid~ d'u~ctly O? indi~~ctly ~or i1a payman ot a prnu. aa of io~Kai or tfie rot~ntion of sny o~ cMr~ tFwo b ~lbwsd by 1aw. li. ta an~ naon, lnt~r~tt In ~xaa of ~ueh Ipd na a a ch~~ prohibit~d by law shsll st any tirm b~ psid. ~M? weh ~xoKt thall ~itf?N constitut~ ~nd be ms~d a~ ~ payn»nt on d» prlndpal or b~ hturwi~d di~eedy to the MskK. The N4ker m~y prep~y th~ Mtin unp~id b~lano~ of Ms Iwn at any Nrtr. li the (oan b pr~pald M tull, soodKand or r~tln~ead, th~ M~kK shsll r~aiv~ ~ ~efund of tht unprmd po?tion of c1+e intKat and i~uursno~ premiums canputed by tM Rul~ of 78's m~chod, ~xppt that tM Bank ~hNl b~ ~ntitbd to reuin a minimum inbr~st chsrpe of ~6.~0. CREOIT LIFE AND CREDIT LIFE ~ OISABILITY INSURANCE ARE VOLUNTAHV ANO NOT RE~UIRED FOR CREOIT. Suth Inwranpto~a~ is ava~I~bM at tM eost d~si~nat~d ~elow fw the tam of the n~dit: S fw C~sdit Ute Iraur~np (b) t tor G~dit Lif~ ~ Disability Inwranoe_ Chetk ~ Cr~dit Lite Insura~oe is daired on t!a lif~ oi Appl. 8lrthdau Box ? Credit lite ~ Dissbility Inwranoe is desirod on ~-y Birthdate U Credit lite and/or Oisability InwranC~ is not desired. ~ . .l i---- Nov. 5, ` f~ oate: 1978 Sqnatu.s ~ uc an . es ' Siynsturo j ~ As setutity fw tAe p~yrrrnt oi the Not~ tht Mskp herlby qrsnts to tht Bank s securiq intere~t in tfie fdlowi p?op~rty: n ur e @~E d Cond. I Recorded on 0. R. Book 86 Pa e 235... Unit Yeek 48~n Con . ~ ' o. - as escr be n s mort9a9e. ~ I ~ ~ncludi~g ~II intr~, substitutia», rplstert~entf, additip~s ard aoc~ssions tAereto snd in the prooeeds MKtoi (henin~ft~r ta1Nd "Co11sE~rN"1. This s~eurity j ~ntaat shalt alto sepire any otAa ir~bt~drws~ o? lisbility of cM Msker to che B~nk dinct a indinct, absdua a continy~nt, dw a co b~com~ dw, now ~x- ~ isting w herNttK srisiny, i~cludiny sll futun sdvanc~ or losn~ by the 8ank to tM Nbker. ~ Th~ 8ank is abo piv~n a lien snd s t~writy int~rat in all popsrty snd securities oi tM Miker. ~ndor~. wnty. pusrantor a acconwnodstion party of this Nots (hK~inlft~r nternd to as the "Oblgon"1, now in w at a~y [ime Aetptur Comirg into tA~ eontrol, cu:tady or poa~s~an of tM Bank, wMtMr tor th~ ~x- press~d purpoq p( btinp usad by tIM 8snk s~ Collat~rsl, or for sny othK purpos~, and upon u~y balanq or btlsno~c to t1N a~dit oi any apeounri. indudinp ~ ' vust snd ~ytney aorounts msinqin~d withtM 8ank by uiy of th~ Oblgon, snd du Obligon aprM to dNivN to tM Bsnk additionN Co1lat~rM w mdc~ such ~ y paymentf in r~duction of the principsl smount of tl~ losn ss shNl be satisfactory to the 8ank, in the ~wnt the afonmentiawd Co1l~terN thsll d~dint in value ~ or becpnr» u~nitisl~Ctory to th~ BN~k. , ! Additions to, r~ductions a exchsryes oi, w sub~titutions tor tht Collsural, psyments on sceount o~ this loan a inaesMS of ch~ ssrm, or otMr Iwns mad~ ~ partislly w vrhotly upon tM ColbterN, mry fran tinr to time b~ rn~e without sHectinp Ms provisions of this Note. TM Bank sh~ll exerus~ rw~o++sblt ean in ~he w~tody snd pr~rvation oi tM Collatenl to the ~xunt requind by applieable satut~, snd shsll b~ dMn~d to hw~ ~xacis~d rqfon~bl~ pn i/ it tNca wch action fw tiwt purpop ss N4tc~i ~sll rwsombly nquKt in w?itirg, but no omission to do u~y set not r~qunt~d b~r Maka dull b~ d«m~d ~ failun m~zKeis~ ~eason~bN can, and no omistion to comply with a~y nqwst ot MakK ahall oi itsdf be d~em~d a failun to ~xKCi~e rtao~bM un• 6ank thNl not b~ bound to ` take sny stp~ nsa~sry to pr~ any riqhts in tM Collate~N p~inst piwr psrties snd Maktr thsll tak~ stl n~oawry st~pa tor wch purpott~. TM B~nk or its ~ nominN nMd not eolbet innrpt on, a s prineip~l ot, ~ny Collaaral or yiv~ ~ny nocie~ witA rhpet to it. Th~ Bsnk rtay eontinue to hold ~ny Coll~t~nl d~po~iqd MreundK sfter ti~e psymsnt of ihis Noa, if st the tirr» of ch~ p~ynrnt snd di~eharg~ Mreof any ot ~ tht patip IiabM for th~ psyrn~nt htrsof dull b~ tM~ dinctly or oontinpently IisbN to t!N Bank ~ Maic~r, endoner, wr~ty, quusntw o~ soeanmodition psrty ~ of sny otMr not~. drsft. bill of ~xchNp~, or od~ iratrumait. or otMrwis~. and tM Bsnk m~y thKtait~r exKCis~ all riphq with r~t to said Collstenl . grsnt~d lN~fin Me1 tl1011ph thif NOt~ f11N) h~Y! l7~Nf furr~fld~r~d to tM M~kK- ~ If th~ Bank ds~m~ italf ins~eun or upo~ tM h~pp~nfrp of s~ryr of the followinp ~vsnts, qd~ of which shstl oonstituc~ s d~fsult, all liabilitia of ~sch Msk~r to ' the 8ank, includin0 th~ ~ntin unpaid principd of thit NoU and socru~d inter~t, las ~ny unarnd int~~st and any int~nst in ~~s of th~ m~xprwm ~tlowrd ~ ~ by Isw and any r~t~t rpuind by liw, dfNl in~disuly or M~r~aitK. at tht option of tM Ba~+lc. ~xapt d~at tht oceurrtna of (el or (d) ~hall eauM autan~t- ~ ~ ~c aooeleration:witbout notia wd~e+rd, b~oort»dw ~nd p~yaW~: la) th~ fai{un of an~r Obli~or to p~?torm any obli~tia+, li~biliq or d~im to tM 8ank, to psy i a ~nterat INrwn within 10dqn aftK it n dut, w N th~n & no dw daa, afta it is bill~d or otMrwi~ nqu~ad or d~nd~d, a to ptY ~nY otM? li~bility wl~at- t 5 soev~r to tM 8~nk wMn dw: (b) th~ dath of aey individwl Oblga, tM d'arolutia+ oi anY P~?tn~nhiP Obliyor a dN disrolucion. m~r~r a eomolid~tion wich- ! ~ out tM 8ank'f priot writt~n eon~nt of ~ny eorporsq Oblipw; (c) tM filinp of ~ p~tition in bankruptey or tM adjudiqdon of intolwncy or b~nkruptey u~dM ~ any ..o.y~nt~tion, urarg.m.nt. .adiwu~wee oi d~bt. diaolution, ~iquWnion a similsr woea.~ltrq wda aw F.d~.N o? san sacuu, b~? a~~ a~w f ~ Oblqor; (d) an appliqtion fp tM ~ppointn~t of ~ npivr? fqr, a tM m~kinp ot s~nl a~ipnn~nt fw tM b~miit of cnditors by, any Oblqor; (d tM a+try ~ ot ~~{y~nt apsir~tt sny Oblqor: (f) tM iauirg of any m~chm~nt or p~rnisbmMt, ar tM filiry oi my lia~, p~inst sny proqrty of iny Oblpor: (9) th~ aki~g oi i wr ~ ; aoss~uion of any wbscsntial pac of tM P?~W?h? oi any Oblqa at tM ir~t~na ot any qowrnnrnd wda~ity: (f~) cM d~tKmi~tion by tM ladc tMt ~ m~ari- ~ a1 advKp ~hsnp~ hn oceurnd in th~ financial eondition M~+Y Oblioor from tl+~ conditions at forth in tl~ mwt r~pnt fimnciM stst~reiMt of wKh Ob1ga ~ her~totw~ fumalNd to th~ Bank, or irom th~ oood{doe d weh OWipo? a Mrttofa~ mat r~anHy d'adoNd to tM 8~nlc, ar th~c ~ny rwranty. rp.~nation, j ~ cer~itieau a iaanrnt of .r~r Obti~w (wMtM. oontaimd M thi~ Notr w ~+otl wrtaininp eo a in oonn.c~ion wid~ ~his Noa or cM ~o~n ~vidM~ad bv ~K Noa cont~in an untru~ sbnrrrnt of nnariN bet or omiq. to ttia nrtari~l f~ct ~ary in ord~r to nyk~ tM staamM+ts n~ not midNdino; a, (i) tM ~gn- ~ ~ ~ ment by sny IN~k~r o1 sny ~quity in any oi t!w CoNatnN without tM pr"~a writqn oorwnt ot tlw BM~k. ~ i TM Bank ~hall h~v~, but pull not b~ timit~d to, th~ followino ~iqha, peh of whieh m~y b~ ~~arca~d ~t any tinr wMthp a r+ot thk Nop i~ dw: (i) to + PI~dP~ or tnrofM thii Nob ~nd tIN Collaar~l and dN 81nk Msll tMnupon b~ rNi~wd oi NI dutiN Nd nlpomiWlltia l~wndK ~nd nlinr~d hort~ and MI i Ifabilit~r with r«p~et to arW Coll~bnl fo pbd~d a tneafand. and any pbd~t or tn~~ fMll fa all pur~wp~ stand in tl~ pl~o~ of tM 8aidc h~rwnd~ ~nd # have sll tM ri~ts oi th~ 8ank h~rwMn: lfi) to trsmfK th~ wbob w my pr[ ot th~ Co11atN~l Mto eM rnrtr ot itMlf w ia ~aminM: liiil to vob tM Coll~t~sl; ~ liv) to eatify tM ObliQon d any Co1laarN to m~k~ pWm~nt to tM 8ank ot ~ny imou~+ri dw or co b~oon» dw tf~~on: (v) to d~rn~nd, w~ for. oolNet. a ~ mNc. ~+~t? eor~+Qr Rr ~tclenrnt rrbN with to tF~ anl: vi) to . a a oi ~ny ~ of Co1lae~al. ! '~1N~t as use~ ~iere~n means ~ur~e Ree~~ssoc~a~es, `~`n .~°~"`an~/or`~`~s assigns. • ' ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION ~~3~2 fB5 7SZ R~v. 7/~~