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INSTALLMENT PROMISSORY NOTE , R •
' _
TURTLE REEF ASSOCIATES, INC. * ti,,,,,,,, ~.;,,.d~. = 4'4'~1.00
. . dANK NAAIE (B) `i /h
~~a = none
Jensen Beach, Florlda 33457 none
~cl oowm~nun? st.mps - s
OFFICE A R to? o~h.. a+~~ u~u.~ = none
= none
NOT~ k0. DATED: APri 1 7. .19 79 ~F~ = none :
April 21, ~ IG) Anwunt Fin~nud ' ~`fi~ v
DUE: , lg_. IA. 8. C. E. FI i~ • ,
IHl Innrat = ' ~ ~
PLACE: , FLORIDA G~dit Inv~ttiy~tion t
u? anK s
Fa vNw nc~iwd. tM ur~riipn~d (h~t~inattK plNd "Maica") iointly snd twerally lit
mw~ than orn1 D~omis~ to p~y to tM~~92oj t1~O8ank. ~t ia oifio~ litad at~ove. th~ Tgqi (K) _ .
ot PaymMtt (from IN) at ripNtl oi 4•1 ow~a" ~"v'b~' in IMI FINANCE CHAROE ~
equai nqnthly i~allmtnt;pf = ' , tM Iitst 1~5. ZO
mtaliqqrlt d1N On ~ ~ .19_. ~nd wbpqu~nt in~tsllm~nb du~ on ~H• I. J. K. tl :
(N) Tou1 oi Paym~na (G + M) _ •
Iht ~ldw ot~~wnch tharwttK to~tM~ with: F~NA~
8/?~~OON PAYMENT OF: ANNUAL PERCENTAGE RATE • %
S OUE ' , 19 •
TAe B~nk sMll irtK~oq ~ dNinqwncy dury~ ap~intt tM Mak~r on uW paYm~nt whieh i~ss boan~ du~ and rtmsins in d~fsult fpr a pKiod in ~xc~ of 10
days in an amouM pwl to 5~fi of th~ snwunt ot tM princq~sl part Of the p~Ynrnt in dttwlt. In tM w~nt that th~ Not~ it not paid in tull st nrtu~ity. all pay
me~ts. wMthsr principat. Intenst or othKwis~. shsll bar int~nst at tM macinwm lypl aa Nlow~d und~r tM t~ws of tM Stat~ oi Florid~. All paymanb m~
hereunde~ shNl b~ aedit~d tint to intKat ~+d Min to p~ineipal, Aow~r, in tM ewnt of d~fault, d~ 8ank may, in iq ~ob disattion, apply ~ny p~yment to
in«rat. prineipsl snd/w Iswful chugn tMe soerwd. 1[ a che intr~tion of tM p~rties her~to that tM provisions M~ei~ ~11 not P~ovid~ di~ectly w i~d'a~etly
(o~ tM p~ymN+t ot a g~ester rsq of inter~t or tM rotention of otM? chuqe thsn is slbw~d by I~w. li~ for ~ny r~uon, interKt in ~xaas of such IpN nte or
a chug~ prohibitrd by law sh~ll st any tirn~ be p~id, sny ~h txpss d~all either constituq snd be trNt~d as a psyrt~t on tM princip~l ot b~ r~fund«1 dinCtly
to tht M~kt~. -
Th~ IN~kK rn~y pr~psy tM ~ntin uopaid bsl~na of the Iwn at ury time. If tM to~n is pr~paid In full, soplMat~d a nii~npd, the N4kK thall no~iv~ •
relund ot ths unnrnad portion of the inter~st snd insurane~ premiums eornqitsd by tfw Rult of 78't m~tAod, ~xppt Mst tM Bank shNl bt MtitNd to nuin
a m~nimum i~tK~st chsrq~ of ~.0~. ' -
CREDIT IIFE ANO CREOIT LIFE ~ OISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREDIT. Such insunnqtowrspei~
availsble st tM cast designst~d bNow for tM term of the aedit: Is) s fw Cndit Lite Inwr~nq (b) S
for G~dit Lif~ ~ Disst>ility inwranta:
Check ? G~dit lit~ Iraursnct is d~sir~d oo tht lite of
APP~• 8i?thdau
Box ? Gedit life ~ Qisability I~aurance is d~sirsd on
,~J~ - - - - Bvthdst~
U Gedit Lite and/M Oissbility I~wnrKS is not desi~td.
oa?e: ~Apl~'11 1979 s~~~.~ 2 - ~
~ g . e
_ r, , ~
_ siynac~.
~ As security for the payment oi tM Not~ th~ Maka her~by grsntt to the Bank a secwity interest in the f lowinp propK : n Ur e e@
Cond. I Recorded on 0. R. Sook 263 Pa e 2002... Unit week 1~ n Con . D-
. o. , as escr n sa mortqaQe.
! ~~cluding sll intrWSes, subttitutioro. rptacements, additiOns end iCCestions thereto and in the prooeeds thenof (heninstter plNd "CplptKal"1. T!?q i~cutity
` mterast shslt •also setur~ sny oMer irKkbcWn~ts a tiability of the Mak~r to the Bink dinc[ or iodirsct, absoluq a tontinptm, due or to b~tom~ du~, now ex-
( ~sting a I+Kqtter srisinp, includ'eny ~II tuture advsnc~s or Iwrn by th~ Bsnk to cM Malcer_
f TM Bank q also pivNf s lien snd s ieCUrity int~r~tt in sll prop~rty snd seCUrities ot the (Ms~cer, endort~, wntY. 9wrsnea w accw~wnodatiOn p~rq ot thK
~ Not~ (hatein~ftar r~flrr~d to ss the "Oblipors"1, now in or al any time hera~tfqr oomirg into Me tontrol, q~ttody or pos~ssion ot tM Bs~lc, wMtMr lor the ~x-
w~ss~d purp~ oi b~irq used by [M 8aok a~ Couaqral, or fo~ sny othe? purposs, and upon sny balsnn or bslano~t to tM aWit oi any aoeounri. indudinp
trust and ap~nty socounts m~intsinld withthe B~nk by srry of the Obl'qo~s, snd the Obligo~i aprw to dNiver to tl» Bsnk sdditio~sl Collsmd or mMce a+tA
~ payment~ in nduction of the principal amount ot the loso as ~h~ll b~ sstisfactory to Me BaMc, in the event the sforem~etiw~ed Coliat~r~l ~hsll d~clirN in wlue
~ or betomM untitisf~tto~Y ~o t1N BM~k: .
Additions to, nductions or ~xehsrg~s ot, or s~stitutans for ths Collatersl, psymenq on sooou~t ot tnis bsn w inu~es of ttN am~, or oth~r lou+s m~ ~
partially or wl+olly upon tM Colburd, nuy irom tim~ to tim~ b~ n+sds wiMout affectirg Me provisiona of this Not~. TM Banksh~ll exKC~ nqonabN eare in
the tu~tody snd presKVStion oi the Coll~ttral t0 tM txt~nt rpuired by spplicsble ststute, snd fMll be dNnMd to haw~ ~xMCis~d r~on~bb pn ii it Ukq wcA
act~on tor thst putpo~ as Mrka shsll rwson~Wy nquKt i~ writiny, but ~o wnission to do sny act _not~rqwtud by N4k~r slull bt d~e~md ~ f~dun to ~xarcat
~essonsbl~ prt. ~rid no ominion to cornply wiM sny nquat of Nbk~ shell of itsNt be dsemsd a f~Mun to exacis~ nsson~bb csr~. 8ank shNl not be ba~+d ~o
~ake sny ~t~ps n~astary to pr~s~rw sny riphts in th~ CoNaural apaiiqt prior perties snd Msk~r shsll tak~ sll rNO~s~ary stp~ for wch purposes. Tht Bank or its
nomin~t nesd not cotl~et inarat on, w a prineip~l of. snlr Collatuat or give amr notice wiM re~p~et to it.
Th~ B~nk mry continw to hold sny Collstaal dposit~d Aer~under afta tAe psymsnt of this No», if at tM time of tM payment ~nd dad+arpe htreot sny ot
tM puti~ lia~t~ for tM prymtnt MrsOt ~hMl b~ th~n dirxtly or tontinyently IisbN to th~BaAk ~s M~ker, eMor~. wr~ty, quusntor or aooonwrw~tion pa•ty
oi any otMr not~. dratt. bitl of e~harp~, or otMr i~trum~nt, o: otl~rwise, and ths ~Qk m~y tl~qttsr ~x~rcis~ NI ripAts witA rhp~ct to.t~f Collate?N
qrant~0 h~r~in ~v~n thouph this Noq thsN I~aw bNn aur~ndtred to tM IWk~r_
I( th~ 8ank de~ms it~elf i~~tu~~ w upw~ th~ happ~ninp of any of tM foltowirg ~ad~ of which shall conttitut~ ~ d~fault, a111iabiliti~s o( NCA Mslur to
the Bsnk, intludinp th~ entin unpsid printipd of thfs Not~ and scc~u~d in»nst, ny unMrn~d intM~st and any int~~tt in ~xqn of tM mtxirtwrn albw~d
by Isw and any reb~ta rpuind by Iaw, ~11 inrrndiaaly or MenaftK, at tM opcan of tM Bank, ~xapt thst tM occu~rMq of (e) a(d! ~MI1 eaw~ sucomse-
~ M aoalention: without notia or demrd, b~oonM du~ ~nd p~yaW~: (a) tM fsilurs af any Oblipor to p~riorm ~ny oblp~tion, li~bility or daim to tM Bsnk. to psy
~ ~nurest h~?eon wiehin 10dsyt ~ft~r it ia dw. a if dw~ it no due d~n. sfqr it it bill~d ar od~ri~ rpu~tt~d or dNmt~d, a to p~y any otlN~ li~bility whac.
soeve~ to th~ Ba?k wMo dur, (b) tM dNth M sny iediriduN Oblqor. tM di~otution ot sny ps~tnsnhip Obli~or a the diaolution. rr~pa w oonalid~tion with-
~ out tM Bank': prior w+it~en conwnt oi ~ny corporaq Oblqor: (c) tM filiiq of ~ pttition in bsnkrupt~y or tM adjudiation of in~olwn~y a b~nkrupscy und~?
~ any reor~ni:ation; arr~~ent, nsdjust~ernt of d~bt, di~dution, liquid~tion w similar ptocMdirq under F~ra! or squ statute, by or aq~inst any
t Obhpa: (d1 sn application to~ th~ appointm~nt ot s?~ai~ru tqr. ar d» mskiny pf a y~nerat alNpnn»nt tor tfi~ b~n~fit of p~ditprs by. u~y Oblipa: (d tM a~try
~ oi lud~r~nt +p~imt ~nY Oblipor, (f} tM awinp of any stUehment w ynni~wr~nt, w tM lilina of any li~n, p~i~st ae1? P~~Y of sny Oblpor:l,) tM qkin0 ot I
~ poss~ssion of any wbstantiN p~rt of tlw propKty of any Oblipr st tM instsno~ of ~nr yovKnnMnW authority; (hl tM d~armin~tion by ch~ BaNc tMt ~ ma~r~ I~
; ai adwrs~ dynpt 1?u occurr~d in tM financitl ew~dition of any Oblipor from tM tonditio~t ~et forth in tM moq npnt financial statsmant M wieA OWipr
~ ~er~toiw~ furnith~d to du Bsnk, or fran tM cqtditbn of wch Oblipo? ~ h~r~totore mott notntly di~doMd to ths B~nk, or thtt ~ny vwrranty, r~trwnqtion,
~ cer~rticat~ w stanmu~t of ~ny Obli~a (wMtf~ oonuimd in tAi~ Noa a nod W?uinirg to or in aonnection witl+ ihis Noa w tM losn wid~nad M M+a Noa ;
ux+uins an untru~ ~utem~nt of rnrt~riN (~et or omits to ~tst~ m~t~rial faet n~c~y in ordtr to mdc~ tM stat~rtNnts md~ eot mittpdino: or, (i) tM a~i~r~
me~t by any IIAikM of ~ny puity in sny M tA~ Co14tKd witbout th~ prior writdn cawnt ot tM Bank. I
TM 8snk ~hall h~vr. but shNl not b~ limiud to, tM followirq riphq, peh of whid~ nwy be ~xaeiud ~t ~Mr tin~ wMthN or noe ebis Nw~ it dur. (i) to
P~~dY~ w tn~afa thM NoU and dM Collat~ral ~nd tM Bsnk thNl tMr~upw? b~ nli~wd of dl dutiM and raponsibilitia Mnund~r and n1i~Nd from ~ny and MI
liability vritA rhp~et to ~ny CollstaN q p4dp~d or tnn~tNr~d, ~nd sny pbdp~~ or t~miKN thall fo? a!1 purpoMt ~tae~! in th~ plaa of th~ 8ank h~nundar ~d .
hsw NI tM ri~ha ot tM 8ank hK~undrr;lii) to aaiuf~r tM whob a~ny p~rt of th~ Collat~rN Into tht n~me of ineH o. its nominN; (iii) to voa ch~ Coll~aal;
(iv) to eotity tM Oblqas oi aMr Collataal to mWc~ payn~t to the B~nlc of my ~mount~ dw w to b~oonw dw tMnon: (d to d~nwnd, wre fo?. oolNet. a
m~k~ anY +a s~td~mant it rabl~ with to cM mN; (vi1 to Wc~ poa~sti a ol of oc~ 0/ Collat~rsl. ~
~*~'B~NK~ as used e~r`e~n means u~r~e Ree~`O~~ssoc~ates, inc, en~/or°O~~'s as~'~ns. i
` NOTICE: SEE OTHER SIOE fOR IMPORTANT INFORMATION gOI~K~~`.~ii/ PAV` j
fB5 752 a.~?. ~n~ . . ;