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INSTALLMENT PROMISSORY NOTE
TURTLE REEF ASSOCIATES, INC. * iN ~~+a.o.~.a s 6'~~'~
oANK NAME - (8) PrNniYnl f0? (k~dit n~lie
Jensen Beach, f 1 ori da 33457 - ~~~0~~~"' _
~c~ o«~~t..,? sw~. = none
o F~c ~o~ oa~.r a~~.. ~~a~,~:~~ = none
~ ~e? s none -
NOTE NO. DATED: ~r' ~ 1~8 . (p) = none
(~il Anaunt Fin~no~d
DUE: NOV. Zl ,19 IA. B. C. O. E. FI i~~~_
IH1lntuat i s •
PIACE: , FLOFi1DA (1! G~dit levati~tio+~
Ul Oth~? i
Fw wlw r~o~iwd. tM und~s:9r~d (hK~iMttN qlNd "Malur'1 jointly ~nd s~wtNly (if lK) _
ma~ tl+~n on~) pranis~ co pay to th~ orc~q Qf t~@~nk~st ia otfiq lisad sbov~. t1~~~W (U ~ i
of PaynNnu (lrom (N) at ri~ht) of f 10 ~ 784. p~~ wy~N y~ 1
wwi mor?~h in.es~in»++a o~ t • ~ .~n. rnt 1M! FINANCE CNAROE 3~984.40
~@C 21 ,19 • v. ~nd wb~qw++t iraqllm~nn dw on (H, t. J. K. L) _ .
instNln~t dw on t (N) ToW of Paym~np ((i + M! _
21S~y o~ ~~,o„th thu~f~ to~thN with ~ FINAL_B~~~ooN P~rME~
oF: p~yNUAI PERCENTABE RATE '
S ~UE 19~
TM Bsek ~hall NrpaM a dNinpu~ncll d~a~ p~i~at th~ Mdur on snY p~Ym~nt which hat b~oanw d~M and nmdnt M d~twlt tor ~ pKiod in ~xoM~ ot 10
dsy~ in an smount pual to of tM smount oi tl+~ princlpal part of tM p~Y~t in d~i~ult. In tM w~t tMt th~ Not~ b not p~id in f ull at nyturity. NI p~y-
m~na, w1~thK pri~ipsl, int~rat o~ othKrrit~, Nwll bwr intuat at tFN maxlmum Ipd ntr ~Ibwd undK th~ l~wi of th~ 8taN oi FIorMl~. All p~yen~a m~
A~nundK sh~ll bt Cndit~d first to intsr~st snd tMn to principN. howlwt. in tM ~vrnt of d~fwlt. tM 8snk rtNyt in ib sol~ dira~tion. ~pply anY p~ymset to
inarat, principN snd/w lawtul ehu~n th~n ~opwd. It is tM inantion ot tM paniu l~to Mat tM provisions MnM th~11 not provid~ dtr~ctly a Indinctly
tor tM piym~nt of a~natK at~ of inttrat or tM htsntlon ot a~y otM~ clwy~ tlw~ i~ albw~d b~l law. 11~ for am r~on, lnte~t In ~qa of ~uch Ipd nt~ w
a~naro. won~nd ~r aw sn.~~ +~w ~~m. a a•~. ~~11 w~h ~xcats d~all eiNwr oo~ftitut~ ~nd b~ tn~bd at ~ p~yrMnt ot~ th~ Prinebd w M ntund~d d~.eN~r f
co the MNcK.
• ~jTh~ M~kK msy pr~pay th~ enttn unpaid bdano~ o! the _Iwn at u~y tirn~. li tNe lo~n b prep~ld In full, scpb.~ud a rdinanc~d. tM NMkK ~hall ~~aiw •
refund of eM un~srmd ponion of the in~Kat and i~r~nee praniums eomputed b~r tM Rub of 78's m~Mod. ~xppt that tM Bsnk sl+dl bt Mtitbd to nt~io
a miniinum inttrOSt ChMpt ot
CREOIT LIFE AND CREDIT LIFE 3 DISA8ILITY tNSURANCE ARE VOLUNTAFtY AND NOT RE~IJIHEp FOR CREOIT. Sud+ irouranp cownp~ is
avsilsW~ st ihs eost dtsipnat~d bNow for tM tam of th~ cndit: (d ~ fw G~dit Llf~ Insuranp (bl S
to? G~dit lit~ 8 Dissbility In~un~Ce:
Chack ? G~dit Lit~ Inwrsne~ it desir~d on tM lit~ of
Appl. - Birthdat~
Box ? Gedit lile ~ Disability Inwranq is d~sired o~ -
Bathdstt
~ Cradit Life and/a Ois~bility Inwrane~ is not desired.
. Nov. 7 1878 s ~ ~d.!'~e~~`'• ~
Date• • g re e ~
• / I
Si~fsture ~ '
r~corc~s"I`H"d"Rr"~~I81f`2~"° ' tn~ f ~ In 7urtle_ eef ~oo~. I, ~
.R:' • `$age ~~~`;`.sejEPn~'~ ~eek. ~n`~'on~. ~'0~~'°ar~$~"Clfi~`~~-rr~r . -m-
A~t. . - an - . ~
~ntludi~g all inu~net, wbstitutions, ~~pl~oKnents, sdditiaK and aooessions thertto and in tM procesds the~~ot (Mninaft~r esll~d "Collattral"1. Thia f~curity
~nterast shsll sts0 saur~ u~y othsr ind~bt~dnas or lisbility o( tM Mtktr to the Bank direct w indinct, sb~dun or tontirg~nt, dw or to b~tomt du~, now tx-
isting or hKwttN arising, inttuding dlluture ~dvanc~t a Iwns by tM 8ank to the IN~ker.
~ TM BM~k is sla piwn a lien and a f~curity intenst in N! papKty snd securities of ehe M~k~r. endon~r, wnty. pusranto? or sccanmodstion p~~ty ot thn
! Note (h~r~in~fta niernd to ss ehe "Oblipors"1, now in w at sny tim~ hensft~r comirg into the oontrol, ewtody or popnsan of tht Bank, wMtM? for eM ~x-
I Press~d purpos~ oi btinp uted by tM Bsnk ss Co1latNal. or for ~ny otMr pu~pos~. a~d upon ~ny balana or balsnc~s to dN endit ot any ~otountt, inNudinp
, trust snd p~ney aetounts msintsined withtM Bank by any of the Oblipon, snd the Obligwt prM to ddiwr to tM Bsnk sdditional Coll~t~?st w mMu wth
~ oayrrKnn in nduction ot the principN amount of the loan a~ shdl b~ ptistactory to the 8ank, in the ~vmt tM afor~m~ntionad Collat~nl tAall d~clirn in vslue
or bscom~ u~satistactory co [he B~nk. ~ . w
Additioeu to, nduetions a ~xda~p~s of, a wb~titutions ta tM Collsanl, psym~nts on aocount of this losn w inu~n of eh~ qrtM, or othe? loans msd~ I
partislly w wholly upw~ tM Co11atKN, m~y irom tirm to tima b~ rn~d~ witf~out sif~ctiny tM provisiwn of this Not~. Th~ Bank~lull exercis~ ~wso~+sbl~ cK~ ie ~
~he custod~l and pratrvation oi tM Coll~ttnl to tM ~xunt rpuind by applicsble statur: b•d da11 b~ dwnNd to Aa~r~ ~x~rciad r~non~bl~ ean ii it taka wch ~
xtion fw th~t pwpoM ss MskK sball naorably r~qu~tt in writi~g. bu~ no om~uion co do sny ~ not nqupad bY MakK s1~Nl be dKm~d ~ hNun to ~~u.cise
•easonsbl~ c~n. and no omission to comply with u~y rqwst of IN~kar sMll of itsdf be daemsd s failun to ~x~rciw r~aombl~ un. 8ank ~Full not b~ Dound to ~
cake smr stps n~aauy to pns~rv~ ~ny riphq in tM Collateral p~inst prior parties and Mak~~ shall tsk~ dl n~o~ss~ry st~ps for wth purpo~s- tM Bank or its
nominM nNd not oolt~ innntt on, a s prineipat of. any Collsbnl or ~ivt sny notia with rhp~et to it. ~
,
The 8aek m~y oontinw to hold any Coltaunl d~ait~d f~wndu sft~ir tht paymsnt oi this Nou, if st tM time of th~ psyment snd discharp~ M.eof any ot {
ttN putia liabN Ior th~ paymMt larwf thall b~ tMn dinetly a ooetinp~ntly Ii~bN to th~ 8ank a Msk~r, endo~~, wr~ty, puKSnta or aooommod~tion psrty i
of any oehn nott, dratt, bill of ~xehan~, nr odNr iratn+nunt, a oth~rwis~, snd ths Bank m~y tMrpft~r ~x~rci~ sll riphri with r«p~et to s~id Coll~ttrd ,
grant~d ha~in ~va~ thouph this Not~ shall ha~ bNn wrrMd~r~d to tM IWk~r. !
If qN Bank dNnn its~lf inqwn w upon th~ happ~ntno of sny of the folbwirq wents, ~ach of which ~tl oorutituU a dNault, ~Il liabiliti~t of pCh IN~k~r to t
the B~nk. intludin0 th~ ~ntir~ unp~id ptincip~l of dut Not~ and acuu~d int~rpt, las sRy un~umd inMat and anY intt?at in ~xat~ of th~ mucirtwm sllowrtl ;
by Isw snd sny r~tas_ rpuind by I~w, ~hall inrmdiaqlY oc dNrNft~t. ~t ths option of tM 8ank. exppt th~t tfN oocwnnc~ of It) w(d) l~ha11 CwM automst- ~
ic accelantion: without ratia a d~mrd, b~oo~n~ dw ~nd p~yable: (sI tM failun ot any Obli~or ~o pafpm ary oblip~tion, li~bility a d~im to tht Baek. to pay
~ innnst hKeon within 10da~n aita it is dw, a if dMn i~ no dw d~a, ~fta it a bill~d or od~wi~ rpu~st~d or d~rwnd~d, a to piy any otMr 1i~bitiey what=
~ soeve? to tl+~ Bank wfNn dw: lbl tM drsth of aoy individual Oblpor, tM d'a~Wution of aMr prtnenhip Oblipa or tM diaolution. mKyK w oomolid~tian vviM-
out tM B~nk's pria writt~n con»nt of ~~p/ ewponu Oblipa; (e) tM filinp of s p~tition in bankrupt~y a tht ~djudiation ot intolwney or l~nknptcy und~r
~ any •wrpanization. srranpNrrnt. n~djutanN+t ot d~bt. diadution, liquidstion a similar prooNdino unda ~ny F~N or saa:tatuct. by or aq~inst ~+t? ,
Obi~por: fdl an appliqtion tor tM appofntnrnt of ~ naivrr ta, ar th~ m~lcirp of s p~n~nl ~siprwrNnt fo~ tM b~mfit of cnditon by. ~rnr Ob~ipo.: l~l eM a+uy f
~ of ~~dprnnt aqsintt ~ny Oblipor, (fl tM is~uinp of sny ~ttahm~nt or y~rnuhm~ett, a tht iilinp oi ~rry li~n, ap~inst any prop~rty oi any Oblipr: tM takin, of ~
~ po:s~tsion of any ~baantial p~rt of tM propu~r..oi any Obf~a at tM instar~ of any yov~rnrr»nW wthaity: (h) tM d~tKmimtion by tM dsnk that ~ nwt~ri- ~
a1 adv~ntt dyrg~ ly~ oceurnd in the finineiN tonditia~ of snY Oblioa f~om tM tonditloes ut totth in tM mwt nant fimntial tut~mN~t of «+eb ODli~or #
~ heretofa~ furni~Md to tM Bank, w trom tM condltlon of weh Oblipor ~ hKttofort most nantfy d'adoMd to tht B~nk, a th~t any w~rranty, rprwnt~tion. ~
certifipq or ttatNrNnt of ~ny Obli~or (wMthsr oonWn~d in Mk Nob or eotl pKbininp to or in Conn~etion with tha Not~ or NN Iwn wid~nnd bY Mq Moa
conuim ao untrw st~qrtrnt ot nrpri~l f~ct w omiq to ~Lb m~tKial i~ct ~ in ordK to m~k~ tM stat~rwnts mdr not m'slNdirp; o~, (il th~ n~i~n- ;
mtnt bY~any IIA~IcK of any puity in any of tM Collat~nl without d+~ Prior writtM eawnt o( tlw Bank. ~
Th~ 9ank ~Aal! Mv~. but q+~ll not b~ linwt~d to. dN followinp ~gAti, pd~ of whkb mh? b~ ~x~rci~d ~t any tinN wlwtMr a rat thif No1~ q dw: li) to ~
Pbdp~ a tr~fK thk Nott and dM Co~laarN snd tM B~nlc ~sN iM*wpon b~ nliw~d of ~II dutia ~ed n~pon~ibi~itia l~wnda ~nd rNi~wd han ~nY ~nd all ,
liabitity with r«p~et to any Colpbnl w pbdp~d or trsntt~rrd, ~nd aM? pld~~ w trami~nt IAdi fa all purpoNt tt~nd in tM pl~a o1 th~ OaNc INrwnd~r ~nd i
1?nr~ all tl+~ riyhts ot tM 8ank MnundK;lii) to harnt~r tM whow a u~y p~rt of th~ Colbb?~I fnto th~ mnw of itwlf o~ iri non?inM; liti) to vob tM Co11~tKN: ~
(iv) io +atity tM Oblqat oi ~ny Collams~ co nrk~ p~ynrnt m tM B~nlc ot ~rw amouna dw;or to b~conr du~ clwrwn: (v) to d~nrrd. fw ta, oolNet. or
~k~ ~Y I~K~ as use~t ~re~n m~eans ~ur~e`~Ree~`'~~ssoc~a~es; `~n~a
n~'/or`~~s as~s~ign~5~ of Colym.l. ~
i .
NOTICE: SEE OTHER 81DE FOR IMPORTANT INFORMATION ~
K3iZ ~ ~ i
F95 752 Rw. 7/77 I
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