HomeMy WebLinkAbout0815 ~ INSTALIMENT PROMISSORY NOTE !
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~ 6280 00
TURTt~E REEF ASSOCIATES, INC. * ~N ~w~ s •
6ANK NAME (s) hN111uT fa G~t none
Jensen 8each, ~lorida 33457 uh~a,~+~~n, s
tc? oow~nn? sw~ = none
OFFICE ApORE ~p~ ~;~N,,,~.~ = none
~ = none
NOTE NO. ~ATEO: 31 .~e 78 . ~F~ = none
DtJE: ~ Jafl. 11 ,/9 $9 , (W Anqunt Finan~~d 62$0.~
(A, 9, C. O. E, FI t
IHI Inar~t = •
PIACE: . FLORIQA (1) tandit levrtti~tioe =
Fw vNw r~qiwd. tM und~:iqn~d th~nin~iq~ plNd "N4kK"1 iointiy and ~ally (it (J) OthK = .
ma~ ~h~n on~) womi~ [o pw to tM q~pt UU ' at iu oitia ~isad abov~. tM I9Ja1 ( ~I t
of Paym~np (i~om IN) ~t rqhti oi Ootqn paysbM in 2Z(!
IM1 fINANCE CHAROE 36$0 00
eqwl tnonthly i~UllmMn of = • . tM tirit (H. 1. J. K. L) _ •
~rxullm~nt dw on Flb. 11 ,-]9~ ~nd wbs~q~Nnt imtNlmMts dw on ~
• (N) Total af PeymMa (G + M? i '
~M,_,~d~y oi ~~wnth tMrNftKLto~tMr w_M a FINAL BALLOON PAYMENT_oF: ~?~yNUAL PERCENTAGE RATE ~
s ovE = , i9 ~
TM 8snk p~all impon a dNinqwncy chary~ s~r.a tM IN~ka on any p~Ym~nt which Iw b~oom~ du~ and nmsim in d~f~ult for ~ pKiod in ~xp~t~bf 10
dsys in an amount qu~l to 6% of tM amount of th~ prineipai p~.t of dw p~rmrnt in d~i~ult. In tM w~nt tMt tM Noa is not pNd in full st rn~tu~ity, aN pty-
ments, wM[ha princip~l. intsrat a otMrwis~. shMl bsr Mt~rat ~Y tM ms~cimum Iprl r~q ~Ibw~d undM tM Isws oi tM Sute ot Flaid~. All payee~nn n~d~
Aereur~ sh~ll bt u~dit~d tint to int~~~it and thM to principN, how~wr, in t6t ~nt of d~fault, tM B~nk m~y, in its wN ditcntion, ppty any p~ynMnt to
~n«rest, piineipal ~nd/or Iawful chsrya Ma+ ioawd. It i~ eM inantion of ch~ psrtia Mr~to tAat tM provi~io~a h~rein d+all not provid~ dinetly a indlr~etly
tor th~ p~ynrnt of a grat~. na of inurat or tM ht~ntion of ~ny ocAK d~arq~ th~n is albw~d by Isw. lf, for ~ny rw~q~, intRnsc in ~xqa of such IpN ab or
a cha~ prohibit~d by law shNl at a~ timt b~ paid, sny wdi ~xass ~MI~ NtMr oo~atitua and b~ mat~d a~ s psym~nt oe tM principa~ or b~ nfund~d dihctty
to tM M~k~r. • _
TM Mak~. mxy pnp~y cM anin ur+psid bsl~na of dw Iwn .t ~nY tim~. Ii th~ bn~ a pnpsid in full, ~coeNr•nd or nfinsnqd. Nr M~kK diNl no~iw •
refund ot tM unw~n~t;~or~ion of cM.intK~st snd inwraeq premiuna eon+puad by tM Rul~ oi 78's m~thod, ~xppt that tM 8snk ~11 b~ ~ntitNd to nuin
a minimum inter~st thup~ ot
CREDIT IIFE AND CREDIT LIFE 8 OISABILITY IMSURANCE ARE VOLUNTARY AND NOT RE~t11RED FOR CREDIT. Such imuranp covK~ ia
avail~ble st tM cast d~sipnst~d bNow for tM t~.m of the cr~dit: (a) S for GWit Life Inwn~q (b) S
for G~dit Li(e 3 Dissbility Inw~anp: .
Chack ? G~dit life Inwrsna is desind on thslii~ of
A~pl. Birthdst~ ~
Box ? Crsdit Life 8 Oissbility ItKUrsnot is desirM oe
r-i~ Birthdats
U C?edit_Lite aod/or pisabili[y Inwranc~ is not d~sired. ' • '
~
Date: D~C~eI" 31. 1978 s~~~m
ne . w , nson ~
si~n,a,~.
As s~writy for the psyment ot tM Noc~ th~ Msk~r Mnby yr~nu to tM Ban s~cw~ munst ~n followi ~1 Ul" ! E@
R. _Sook 2~~, Raqe 20~2.. . Unit lieeks ~ an n n. ,
Cond. I Re~orded on 0. _
p. a. ,a sr .
includirg sll inCrNfef, substitutiortf, tpliONnN1t~, sdditiOrK and sCCessiOrK thQretO ~nd in iM prOCeedt tI1KlOf (hN~itl~iMr Cs11W "CpllaqrN~~1- Tha Nw?ity
i ~nterest shsll also iccurt aW otMr ind~bt~diwst w liability of tM Mska to the 8ank dinet a indinct, abdutt ot continp~nt, dw a to b~COrM dw, iww ~x-
~ ~siing or Mratter ritinp. includinp NI futu?~ ~Qvanea or lo~ns by th~ Bank to tM M~ictr.
j Th~ 8ank a alto 9ivrn ~ lien and s Mwrity intN~st in all prop~rq srid s~curitNS ot tM ~AMcK, endoc~. wr~ty. ywrantor or accommodatqn p~ty ot Mis~
{ Noa lharNn~fc~ nt~rnd to a ch~ "Obliyors"1, now in or ~t any ~inw hKqftK cominp into th! control, cuaody or po~r.ssion of NN Bsnk, wMtMr for tM ~x-~. J
~ prtst~d purpoM of btinY u~sd.bY tM Bink as Co11aWN. or fw iny OMM P~~POSt. snd upon anY bsl~nC~ or bslanelt t0 dN u~dit of M~? aOCOUnts. indudin~
trust ~d p~ncy aeeouna msintsirnd withU~ 8ank by any of tM Oblqon, and ehe Obliyas apr~ to dfliva to tM Bsnk additionM Co11sa.N a mMce wch -~t
! pavm~nts in nduction of th~ p?incipal ~mount of tM Iwn s~ ~hNl b~ utisfaetory to the B~nlc, i~ th~ ~wnt tM ~tor~~tia»d Collanrq ~11 d~dir~ in value=l
f a bsconN uMStaiattory to tM B~nk. , _
~
e Addiciom to, nd~,ctions w txehanpa of, a wbaitutiau fw tha Collatenl, psyrtwnn on sowunt of tha loan a inawet of cM a+n~, w oth~r loins mad~
partislly or wholly upon tM Collst~rN, msy from tinN to tim~ b~ ir~sd~ without ~ifectirq tM prov'Kio~q of Mit Not~. TM B~r?kshNl aurci~ r~ttonaDl~ t~r~ in
tAe custody and prhav~tion of th~ CollatNd to tM ~xt~nt rpuitid by pplitaDM stttut~. snd fMll b~ dMrtrd to hav~ nnrCiwd rNSOn~bN qh il it taka ~utA
action for thst purpow as Nbk~r shsll r~onably rpuNt.in writi~g. but no omission to do any aet not r~quwad by Mak~r ihdl b~ dMenrd s f~ilun to ~xweik
reasonsbb qn, and no omiaion to eompty with any nqwst of IN~k~r ~11 of itsdt be dNm~d ~ failun to ~x~rci~ naon~bN an. B~nk ~hNl not b~ bound to
take sm? st~ps Ma~tary to pns~rvs any ~iphq in tM CotbUpl ap~in~t pr'wr psrtws snd Ma1cK sh~ll tske all r~oas~ry st~ps for ~uch purpo~t. T~Bank o~ its
nomirMt nNd not colbct intK~t on, a s principd M. any Cotlaa.al o? piw sny notio~ with rap~ct to it.
TM 8ae~k m~y eontinw to hofd ~ny Collat~rat d~poatsd Mrwnder sfta tM p~ym~nt of this Noq, if st th~ tirr~ of th~ psymtnt ~nd dad~arq~ hiirwf sny of .i
tn. ~~a i~aa. ro. d+. p,ym.~t n..wf .nau a n»n aneehr a oonunoa~~hr ~na. co ~n. ea„k «r~.r, ~ndonK: wnri. ~usnntw a~oeommod~tion ps.ty ~
ot sny other note. drah, bill ot ~xdtuq~, or o/M? intt?um~nt, or o~. ~nd dr Bank nNy U~fter ~x~r~ NI riphp wiM rpp~et to said CoNata~l o
grant~d Mrt~n fv~n thagh this Not~ ihNl Mvr bNf1 wr?NwJK~d to 11N IIIMk1r. , , ~
If tM B~nk d~s ittNf inWCUn w upoe tM hrpp~ninp of sny of tfie tollowiny ~nt~; t~d~ of whid~ thNyCf~atitut~ s d~fwlt, all lisbiliti~s of peA M~krr to
the 8ank, includinp dN ~ntir~ unpsid ptineipN of tAi~ Not~ ~nd aoeru~d interat, lut ~ny un~srn~d ind/~i[ ~nd any intKnt in ~xq1t of tM m~xim~wn allprwd j
by law arM sny nb~t~s rpuir~d by law. th~11 inrn~tMy o~ tMnaftK. ~t tM eption oi tM B«ik. ~itcapt tFut tM oocu?rtna of (e) or (d1 thall tauM wtomat• i
K ace~kration; without notiq or d~m~nel, b~ooerM dw ~nd p~yabN: (d th~ falun of aey Oblioor to pufam any obliatan,li~biliey w da~n to th~ 6ank, to pw ~
interpt Mr~on within 10dtyt ~ft~r it it dw, Or N tMn it no dw d~u, ~f~r it is bilbd a od~wiM rpuKqd or d~rtwfdrd. or to pty any otMr Ipbility whst- ~
~ soever to tM Bsnk wh~n dw: (b) tM dMM of any indiridual Oblqor, th~ d'a~olution of any pKCn~nhip Oblipor or iM diMOlution. mK~ ar aoe~olidnion witA-
ovt tM 6ank'~ pri0r writqn ConMM oE sity co~porab Obliyor: (e1 tIN fUinp of ~ qtitlon in b~nkruptCy Or tht sdjudidtion ot imolvNUy or bMlkrYpeCy undM
~ any r~paniz~tion, ~rnrg~nunt, rMdlWtrtwnt of d~bt, dittolution, Ifquid~tion w similK prooNdin~ undM any F~N w ftlt! tqtuU, bY o? ~YMnst arpl ~
Obipor: ldt an appliation ta tht appointn»nt of ~ naiw~r iqr. or th~ m~kirq o1 s p~sl mipnnMnt tor th~ b~fit M aMita: by. ~ny Obliya: (d tM ~ntry ~
~ Q~ I~dpme~t sp~~ntt anY Obli~or: (f) tlw hwi~g of ~ny tttaoMrrnt or arnitlwr~nt. or tM filitp of ~ny IiM, a~intt ~rw P~oP~?h/ af ~+Y ~~:1,) tlN t~fcap of +
~ poss~aion oi ~ny p~tuqntial pMt af dw propKty d any Oblpa n ch~ irrtanp of any ~mfbntal M,tAority: (N cM d~a~rninacion by tM ~n1c tAac • nwari• ~
ai adwn~ eharp~ fws oeturr~d in tM finM~ciN ~ondition of any Oblqor irom !i?~ eonditions ~t forM in d» molt nqnt fin~nCiN itst~rtNnt of w~d~ Ob1i/o?
~ n~retota~ fumi~Md to th~ Bank, w from tht eondition of weh Oblipo? at Mr~totae mat nantl~r di~dowd eo tM B~e~lc, a that ~r w~nanty. rp~wnt~tion, ~
cer~ifiuu a ~aum~nt of ~ny OWioo~ (wMtMr oonain~d in tbt~ Noa a not) wrt~ininp to w in aa+n~ctan wid~ cha Noa or ch~ lo~n ~rid~nqd by ~ha Noa t
~ conqins ~n untrw ~tat~nt of nnt~ri~l faet w omia to ~ata nrtni~l faet ~ry ie~ ord~r to rtrlc~ tl+~ tut~rrrnts n~ not miNMdiro: a. (i) tM ~i~n- ~
ment bY +~1? IM~1w oi any puity i~ sny of tM Co1latMal witAout ih~ Pria writnn eon~t of iM 8~nk. ~
TM B~nk ~hatl haN, but shall not b~ limiqd to, tM fdlowirq ~qhp, aeh ot whid+ m~y M aa?eiwd at ~ny tuns wh~tMr w noc Mi~ No~ a dw: (i) ~o ~
pl~ or tr~mirt this NoU and tM Co1lat~rN and tM BM~Ic i!?NI tMr~~~on b~ rNi~~l of all dutiM and rMpauibilitiu Miwnd~r ~nd rNi~Nd hWn M~Y and ~II ~
i~ability with r«pat to «+r CWlat~r~l a pNdp~d or tnnsfu.~d, and any pNdy~~ a trMafKw ~NI fo? dt purpo~ ~wd in tM plao~ of dN 9~nk lNrwe~r and
~ hsv~ MI N+~ rqhb of tM Bank haw~da: (U) to u~br tM wfwN a ~n1r p~rt of th~ Colbtasl imo tM n~nr of ittslf or ia naninN: (iii) to vo» tM Coll~t~rd: ~
(iv) to notify tM Oblioors ot ~ny Colbtwal W nwk~ psyen~nt to dN B~nk ot any ~rt~ounp dw or to b~oonw dw tM~~on: (v) w dMt~~d, fu~ for, eoiMet. or
rn~k~ anY eor~ R? MttNrnMt nbN wifh to t!N tNN: 1~vi) to Wc~ powa~io~ o~ OI of opW~ of Co11MarN. `
'~NK as use~ e{~re~n means ~ur~e Ree~~ssoc a es, tnc, ana/or°°~~s ass~ns. ;
i i
NOTICE: SEE OTHER SIDE fOR IMPOiiTANT INFORMATION OR ~
Fss ~ss R.,?. ~m BOQK~1~" P~SE ' i
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