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INSTALIMENT PROMIS90RY NOTE
, TURTLE REEF ASSOCIATES, INC. * ~N A««r.a s 5.643.00
0~..~t NAM[ ~e~ w«~,^^ fa c..a+~ none
Jensen Beach, Florida 33457 unio~.eu~~ _
~ci oo«~„»~~«r s~ s none
OFFtCE A aE ~o~ ~,,K Q,~,~ ~;~,,;Z.~ = none
Oct. 21 ~g : none
NOTE NO. DATED: ,19_. ~p~ = none
DUE: ~QV. 1 . , 19 ~ , (G) Anaunt Financ~d ~~~,3.~
(A, B. C. O. E, F) :
• (Hl IntK~tt = •
PLACE: , FLORIOA ~it Inv~tqttan =
(J) OcMr t
For vNw naiwd. tM und~si~Nd (hp~i~inr ca1Nd "N4ke~") lolntly and sw~slly (i(
mw~ thae ond p~ania to pay to th~ ada t ia oftip litad abov~. q~ (K) i -
ot Paymeots lt~an (Nl st rqht) of ~'iRa OollWt WY;bN io~~~ IL1 s
eqw~ moninN ~~uN~~n of: 7a. g$ , tn, hnt 1M1 FINANCE CHAROE 3~3~.60
insulirt~t dw oe Q~!C• 1 , 19_ZR and wb~qwnt installments dw on ~H, I, K. t
th~ l~y ot th thuNft~r t UN~ w~tl? a FINAL BALLOON PAYNIENT OF: ~N~ Totsl of Paym~np (G + M) = s9 9•
~~10" L°~!~~` - ANNUAL PERCENTAtiE RATE 10.00 %
S OUE ,19
TM Bank flytl irtpwe ~ dNi~y cMr~ a~irot tM M~ka on an~l psYm~nt which h~s b~earN dut and nm~ins in tNfwit for s p~riod in ~xaa ot lO
days in an anqunt pwt to 5% of tM anaunt ot Ms principsl pt?t of Ms paym~nt i~ d~tault. In dN Mnt that th~ Nou fs not p~id in /ull st nwt~uity, all pay
ments, wMtha p~incipsl; intKpt o~ otM~wis~, thall ba? intertst at tM maxirtwm Ipsl rat~ Nlow~d undK tM lawt ot tM Sqt~ oi Flo?id~: All paym~ntt m~
hsreundK thatl bt tndit~d fir:t to inmat and tMn to principN. how~wr, in tM w~nt ot dNault. tM B~Mc m~y~ in iq ~ discntion, apply ~y p~yn~?t to
mterest, Wiocipal and/w lawful ch~ryes then sarWd. It a tM ineentwn of iM partiet hento that tM provuions Mrtin sl?~II rqt prpvid~ dinctly a iodi~ectly
tor th~ paym~nt of s grqtu nt~ of intK~st w tM nta+tion of arry otMr chuy~ th~n is sllow~d fry law. lf, for any resson, intKat io ~xoaf of such IpN r~t~ or
a cha~9t prohibit~d by law sMll at any tirrr b~ psid. any wd+ ~xoas shall eitha~ cor+stitua aiW bt tnsqd a s psyment on the p.ineip~l or p~ nfurnl~d dinetN
~o the M~IcK. '
The Maku inty prlpsy th! antire u~id balsnet of the loan at anY time. If tM lotn is ppsid in fWl, atctltrsted or nfins~t~d. tM Mtlur shall ~~uivr a
refund o1 the uMarn~d ponion Of the intertst snd inw?ence premiumf ta~uted by tht Hulf of 78's tn~thod, ~xdpt thst tM Bs~k s1y11 b~ MtitlW to ntain
a r~lnimum int~rest dwye of .
CREDIT LIFE AND CREOIT LIFE d DISABILtTY INSURANCE ARE VOIUNTARY AND NOT RE~UIREO FOR CREDIT. Such inwrsneveov~ap~is
a.ailable at tM cost d~siqnsted belaw for tM te.m of the aadit: Is) S fw G~dit Life Inwr~nee 1b) :
tor (;r~dit life 8 Oissbility Inwrsnce:
Check ? G~dit life tr~suranct is desirld on the life of
aPP~• Birthdat~
Box ? Crldit Lite ~ Ditsbility Inwrante is desired on
,-i~ 8i?thdate
l._] C?edit lile and/w Oissbility Inwrance is not desired. •
oace: ~Ct. 21 ~ i97g Sipnaw~e ~ o"`~+'~ •
Dou las H, Walk ~ ~
Siyoature .
As seturity for tht payment oi the Not~ tM Mskei Mnby grsntt to tM 8an ;~~~a~ ~ a~~~~ ~.~~r~ n Turtl e Reef Cond. I ~
_ - - d~
~ncluding sll incr~saes. w titutions, nplsqments. sdditions and aoassions tl+ereto and in tht proceeds thenoi (h~nin~iter call~d "Coll~qrd"1. This ncurijy
I~ mterest sh~l Nso sscurt eny ot1~ intfebadMSS or liability of the Maker to the Baok dinct w indiract, absdut~ or wntinp~nt, dw or to b~tom~ dw, now ~x-
~ ~st+ ~
, ng or MrattK sritirg, including Nl luture sdva~c~s w Io~ns by iF~ 8ank to the Nl~ker.
~ The 8ank is_~so yiven s lien ~nd s s~turity intenst in stl ptopsrty snd ~ecurities ol the M~ksr, ~ndo?~. tur~ty. guxanto. w ateommodatiOn p~rty ot thK
~ scu
~ NoTe IMrtinsfta nterr~d to ss the "Obligon"1, now in or at any time herptcer comirg into tAe control, cwtody a poss~ssion ot cA~ S~nk, wMther (or th~ ~x-
P?ess~d purpo» M Mirq uled by th~ Bsnk as Collataal. or tor sny othK~P~~Pose. snd upon s~y balsnq Or balano~s to the p~dit of ~r aaount=, indudinp
crust snd sp~ney sotounu mtinqin~d withtM 8snk by a~1/ oi the Oblgon, and the Oblipors apr~t to dNiwr to tM Bank additionN Co1lat~rN w mNc~ weh
! payrn~nit in nductip~ oi tNe principsl amount of th~ loan ss shNl b~ fstisisctory to tht Bank, in the evtnt ths ~fortmtntioned Cotl~tersl shsll d~tlin~ in value
or b~tprr uMatisfat[Ory to the BM1k.
Additions m, nductiont w~xchsnpn ot, or sub~titutian (or tM Collateral, paymtna on aocou~t of this Iwn or inae~ps of ~ s~m~, or otber lo~?s m~ ~
partislly a wholly upon tM Colla rnay irom time to time b~ rt~le without aifecting the provipo~ of this Not~. TM Bank shsll enertis~ r~onabl~ tare in
the custody ax! prpervatio~ of t~IaterN to M~ sxt~nt tequind by spplitsble statut~, and ~hall b~ d~nwd to hsv~ ~xNtit~d rpfOn~ble pt~ if it qk~s wth
action for that pwpon a~ Nbk~? sha11 rpsombty rpu~st in vaitirg, but no omiuion to do any att not nqu~st~d by MakK ~MII b~ d~em~d ~ taitun to ~x~rciu
~eason~W~ cut, ~nd no omission to compiy with ~rty rpuest of M~ker ~stl of itself be dsem~d a feiluri to ~x~rci~e naaubN care. Bank shall not be Oound to
take ~Mr st~ps nenss~ry to pr~rvr ~ny rpha in cM Co11atKN a~sinst pria psrties and M~k~r shsll tske all n~oessvy st~ps ta such purpo~s. TM Bank o. ~ts ~
nominN n~sd not colbct ina~at on, a a prineipd of, ~ny Coll~qral or pive a~y notioa with resp~ct co it. _ ~
Th~ Bsnk ~msy continw to hotd any Co1lat~rN dposit~d ha~unde. ~fter the paymsnt oi this Not~, if at tfr tirne of th~ psyment and diuAu~ h~r~oi sny o~ ~
tM partia liabl~ tor tM pa~rrt»nt I~enof ~hall b~ tMn dinctly or contir~psntty lisbb m th~ Bsnk at Maker, endorser, wr~ty, pwrsnta or aocommai~tion ps~ty ~
of sm/ other ~ot~, draft, bilf of ~xd~anp~, or otlNr instrument, or oth~rwis~, ~nd tfr Ba~k m~y theruhK sx~reia sll riphn witfi r~qc~ to c~id Collatast ~
grannd herNn ~wn thagh this Not~ thall haN b~n wrrtntknd to ths Mska_
It tM B~nk dwms it~Nf irwcurt w~ipon tM hipp~nirq oi any of tht followinp events, ~aeh of whieh shsll oo~stitutt ~ d~fwlt, sll lisbilitia of exh Malc~r to ~
the Bank, inetudirp tIN ~ntin u~aid pcineipN of this Nou and ~otru~d initrat. Ips anY ur~ned ineer~st snd sny inta~st in ~xpss oi tM mueim~pn sllow~d
- try Iaw and any npstes rpuind by t~w, shNl inrmdisWy or tMnsftK, at tM option of tfN BsnR, exapt that th~ oawrsnot of (c10~ fdl ~1 csu~e sutomat• ~
~c accelN~tion;without notia wd~~rw~d, b~eom~du~ and p~y~bb: (d th~ f~ilun of any Oblgor to pKtorm sny oblip~tion, li~bility w d~im to tM B~nk, to pry
~ ~nceren M?~on within 10dsys aft~r it a dw, or ii th~.t a ~o dw d~a, attu ic is bill~d a otherwiw rpuat~d or den?~ncbd, or to p~y ~ny otf~ liabitity wMt- `
~ soever to tM B~nk wh~n dw: Ib) tM dath M any individud Oblgor, tM di~soiution of any psrtnar~ip Oblyw a tM diaolution. ~r or oonsolid~cian with•
~ ou~ tM 8ank't prior writt~n co~ant ot ~ny eorpaat~ Oblipa; (c) d+~ filinp of ~ p~tition in b~nkruptcy or tM adjudiation at inwlv~ncy or Mnkn~ptey unda
~ any rsor~niz~tion, ar~nt, rNdjustnwnt of d~bt, diuolution, liquid~tion o? titnibt ptoc.~~dinp under sny F~sl w statt ttatut~, by or a~imt ~ny
Ob~~or; (d1 an application tor th~ appointrrnnc oi a rao~iwr fw; w cM mrkirg ot a~rwral as~ignm~nt for M~ bernfit of cr~ditas by, sny OMiqor; tM ~ntry
~ or ~udyn»nt ay~irKt any ObliOw: (f) tM iauirq of any att~cAmrnt or quni~x+~nt, or dN filinp of any li~n, aparut aM? property of sny Oblqor: (q) tM akin~ of ~
posstssion of any wbsqntist pMt of tM prop~rty of ~ny Oblpor at th~ irutanq ot any pow~nnNntal wMaity: (h) tM d~t~rmiMtion by tM 6ank tMt ~ matui-
~ a~ adwn~ chanp~ ~
otturnd io tM fin~nci~l corwiition oi a~W Obligor from tM conditiont ~tt forM in tM moit nant financiM ~tat~m~nt at aeh Ob1ip. ~
neretofa~ furniiMd to tM Bank, or irom tM ew~dition of wd~ Oblqor w Mr~toton mott nantFy d'adoMd to the 8snk, o? that ~ny rwranty, r~pry~natian,
~ cer~ifieat~ w ~qt~nf~nt of sny Oblpor (wMthK oonbin~d in this Not~ a not) p~?taininp to w in oonn~ction with Mis Nott w tM twn ~vid~npd by tha Not~
cnnuina sn untrw aat~m~nt o1 nni~riat taet a omia to tt~a mstKiN (~et rwcass~y i~ wd~. to nNk~ th~ staart»nts m~ not miNNdinO: a, lil tM ~~grr
msnt by sny_ Nbk~r oi sny puity in any of tM Colliqrd without tM Pria +w?Rnn conNnt o( th~ Bsnk.
Tt~ Bsnk tl~all hm, but qwll not b~ limind to, tlN followinp rqhp, f~Cll O~ YYAICh /INy I1~ fXNCIMd ~t My t111N WINthN Ot 1iOt Mllf NO~! dIN: (i) to
P~~d~e or traabr Mis Noq ~nd iM Collaa~sl and tlN B~nk MNI tMr~upon b~ reli~wd M NI duti~s ~nd r«ponsibilitia h~rwnd~r ~nd rNawd frqn any ~nd MI
li~bility with rMpn,K to ~ny CollatKSl p pNdp~d or traipt~rrb, ~nd p~y pqdp~~ a tnnst~ q~Nl fo~ all purpo~ arnd in tM pl~a ot th~ 8~nlc Mrwnda and
hev~ sN tM rqAb Of tM 8ank ha~undu: (ii) to tnnd~r tfw whob or ~ny p~rt of thi Colltn?N into tM narr» of iqNf or iri oaninN: (iii) to vob th~ CollataN:
(iv) to noti(y tM Oblqas of eny Coll~b~sl w mNu paymrnt to th~ 8ank oi any ~mount~ dus o? to b~conr du~ dmron: (v) to d~nwnd. ~ut ta.. tolNet, a ~
r.n+c~ ~ntr Rr rttl~nt 't rab1~ with f~. co dN caaF• vi) w ~ a o~ o( any oa~d~ oi Collaaral.
~ ~*R'~NK as use~ e~re~n means ~ur~e Ree~~ssoc~a~es , `~`n~an~'/or~~s ass ~ns . ~
NOT1Cf: SEE OTHER SIDE fOfi IMPORTANT INFORMATION ~
~`3i~ ~ ~3 ~
F9S 752 R~v: 7/77 d~ ,
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