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, , INSTALIMENT PROMISSORY NOTE ' ~
tURTL~ RE6F ASSOCIAtES, INC. ta ~+oum ~wa ~ 12,226.00
BANK NA •I~) PtMN11M1 fOf C~it n~„~
Jensen 8pech, Florlde 33457 uh~°u'~u'~? i"'. ~
~c~ ooeun+an~? ~a~rw 1
c (D) oth~r Ch~N~ (Itunitd 1~~~-
1~"R6~te T"
NoT~ No. DAtEb: ~Pr11 26,1979 .~g 1~~ ~ n~~~.s„_„ .
lol AnaUnt F~~w+c~d _ ;
oue~ ~ 6~ .~a 89. e. c, a, E. ! 12 Y26.0~
IHI IntuMt ! •
PIACE: . FLORIDA (ll Cndlt I~wNtl{~Uon = "
Fw va~w r~iv~d. tM undeni~d Ih~ninafa. cdNd "Mab.") Iointly ~nd sfvtrally (If W) OthN ` ~ _
mw. th~n on~) womi~ to pw to the ord~r ol th~ ~+k. se ta oifla Ilst~d ~bow. ehr 1pW ~K)
of P~Ynwntt ltrom (N) ~t r{phl) ot 21 052.8~ bbllrtf WY~blf In icu ~u ~
saw~ nw++~+~r ~n.ta~~n+a+a or ! • ~ .:hr t~ht 1M1 I~II~ANCt ~iHANtit 8 826.80
~mtal~mytt dw on ~~It18 6 ,19 .~xtwbwe~wnt Insalin~+a dw wt (N• ~ J~ K, L ~._._.3..._.~
tne ddstr oi ~~anth tl~~afttr t tMr w_th a FiNAI 6AlLOON PAYMENT OF: (NI tbW b~ ~M1lMb i~i ~ 2 8Q
~ _ . ANNUAL I~pCtNtAOE qAt~e ~________x
S OUE - - - ~ 10:_,,,...
tha Wnk ~hdl Impw~ ~ d~lintW~ney ehw~ ~Intt tha Ailrkk utf ~tq? WY~4 Whibh II~ dUi rM1I f~Ml/IM In drl~ult la ~ pa~od in •xo.M or 10
days 1n an snioUni Wusl la !!~i of the snwunt of tM p?inelpyl p~.t o~ th~ WyMtiMt In d~lwll. I~I d1~ ~wet thd tl+~ Nt1b N not Wld In lull rt nyturlty.,~~ p.y- ~
mtntf. wh~NNr printlprl. Intlrut b~ otlN~NrIN. th~{i bN? MtHHt ~t th! IMUUiMlIM I~) f~N ~IbNlfd Utkllt NI/ (Nw N~ UM SttN b1 I~IbtkN. All payln~th ntad~
hereuedtr ~11 be u~diud first to iet~nst ~nd then to prineipsl, howhrer, in tht fwet oi tMfN11t. th. gn~k n~r. la al~ d~ntbn. Wply anY pWmMt to
n
~nterest. Wintk~ •nd/or lawtul chsry~s thM acawd. It k the tnt~ntton of N+! p~tlN h~t~io thrt th~ orWoM hM~in 1llrl) ~wt M?orid~ dl?~etl~ or ~ndlnetly
ror ihM pa~rmrnt o1 ~ 4rwtK r.a M tnt~~t or tM nnhtlon ot ~ny ntFNr ekrtq~ then b dldw~d b1~ I~w. f. (tl? rNy fN1oM. IMlIhM Uf ~aeN1 ot weh {~I nteor
~~~•a woh~e.d b~? ~aw sna~t et.~w e~m. b. wd.•m? wd~ ~xaa ~11 Ntl+~? au+~tltuM ~nd M t~NHd M t pwnNMt uM 1!N p?~ne~~ w W n~und~! dkktly
te t1+r Mrke.
n~. ~w~a h+n? w~aw ~+t~ uwaw ~ne~ ~ da ia~+ Ww +aw.11 !h~ IwM q a?~d wu, uw~?~ud w~lin~he~d, ?raw.. -
relund ot 4h~ unwrn~d portlon o1 t!u ~nt~ryt ~nd Inwr~ pt~rnwnu ron~flUNd by t!u pYl~ ot 1A'~ nN~had, ~itMpf thN !bM llrnk Ihdl ~~Mllti~d to r~t~in'
a minirtNlm IntNMt l11~?a 01
epEblt ~IFE ANb CqEblt LIFE A DISa~ILItY INSUqANC~ Aq~ VtlLUNtApY ANb NCft M~nUiMlb ~17M CMltilt. dueh tnwr•na eov.?.~. .
ewi1~W! t!N lOlt diltl~t~d blIOW 1Of tIN tHM1 OI tIN C?~dit: (d ! ~~u C~udl! LI~111hNlt~tu~ Ibl ~
tor Cr~dit Lif~ 6 OiMbility I~suranN:
Cheek O G~dit Uf~ Inwranc~ is tksitM on th~ lit~ oi ~
A~I. ~I?thd~ti '
6oz ?~redlt lit~ A Gbeblllty Inw?snet If dNlnd otl _
~-y tllHhd~h
L:J Cr~dit Lif~ ~ndlor DitabUlty InWr~nt~ (1 nof dHIrW. ; ~
~ .
oa~~: Ap1"i 1 26,1979 et~n.tuh x ~~U~(J ~ 1-c I
U O COV • • ~
~tuw"~ i
sscu i fw tht pay t th Not t ka? henby to tM k a~cu i r In~eh~ Iow np o i n Turtl e Reef `
"~on~:'~ recor8"ea `~n book~~ page ~~,,,un~'~ rreefc~' 9p~ in ~ond. '~-`b',`~i - ,as ~
escr n sa mor gage. .
+ndudinp a~l inuNSef, substitutiOra, r~plaClm~nts, sdditiorK snd ~cobsfions tlee~eto and in NN prote~ds th~rlot (hK~insftN alNd "Co1laMql"!. Thif f~a+rity ~
~~cerese ~su Nw ~cur~ any o~her ind~bt~dn~u or uability of th~ tM~k~r tp the 8ank dlnet a lndinet, ~btolut~ a wntlndrnt, dw or to Wcan~ aw, i+aw ex-
~s~ing w I~tattN ~isln~, ~ncludiny NI tuture advane~s a la~m by th~ 8ank to the Msker. ' ~ ~
~ Th~ Bsok i~ sl~o piwn a lien snd a security int~rKt in all property ~nd fecuritilf ot t1~! M~ker, endoner, wncy, qusr~nca or sccwnnwdation psr~y of Mu ~
~ No?t (ha~in~ita rt~e~red to ~s th~ "Oblipor~"1, now in or any titn~ heraf ter coml~g into the eontrd, eustody o~ pon~stion oi t1?~ Bank, wh~thK fw. the ~x• 1
pressM pu~por~ of beinp wW by tM 8ank a Colbtval, a(or any oth~r purpow, ~nd upon ~ny b~tsnu or Ml~nai to tM er~dlt o1 ~ny aecounts. ineludirtiga J t
~~ust and ap~ney aeeouon msinained wichth~ Bank by iny of elw Oblipon, and tl+~ Obliyon ~~e to dNiw~ to th~ Bank sdditional Coflst~rsl w m~lce such ~
~ payrr~nri in nduttion of tM p~intipal ~mount of tl~ lo~n q~Aall b~ sstitfattory to ths Bsnk, in the lvent ths afprN~ntion~d CollaterN fhsll d~clim in vslue ~
~ or becom~ umstisisetory to th~ Bsnk. : ~
t~ ;
Additions to, riductioin a~xcbanpn of, w wbstitutiaa fw cM Coltateral, p~ymenq on saount ot thb Iwn a incr~e~es of tM f~rtr, a otha Iwns m~~
par~Nqy a wholly upon th~ Collawal, m~y tton? tim! to tlnw b~ msde without sfilCNng~the Provitlont ot thb Not~. TM dankshall extrcifi rMSOnsbl~ tar~ in ° i
the Cuftody ind praervation oi the Collataral to th~ ~xt~nc rsquired by applkable:tstut~, and ~hall b! d~lm~d to hav~ lxNCis~d rMSOnabl~ tu~ it it t~k~s wtA ~
action ior thst purpoN ~s Mska sl~sll ns~on~Wy r~t in writing, but no omi~sion to do anY act rat nqwt»d bY MakK shall b~ dum~d ~ I~;lun to ~xKC~se ~
~essonabl~ pn, a~d no omiuiW~ to oomply with ~rnl r~qwst of IWkK thall of itselt be d~mid a fsflun to ~a~rslf~ rqlonsM~M dr~. 8ank ~hNl not bt bound to
cake sny st~ps ~ay to pr~w ~ny riphtt in tM Co11atNN psln~t prio? p~rtie~ and Mak~r fhdl bk~ ~II naeasry ~t~p tor wch pu~pot~t. thf B~nk or ~ts ~
nomine~ ~+Md not toll~ct int~rsst on. or a prlnelpd ot, u~y Collabnl or plve any notle~ wlth nlp~Ct~to It. ~
TM Bank rtry continw to hotd ~ny Colbt~nl dpo~it~d h~rwnd~r afte? tM paym~nt of thts Not~, if ~t tM tirn~ of tiw payrrwnt and di~hu~ ha~of any of ~
tM patas liabb fw tM p~ym~nt h~nof ~hMl bt th~n dinctty w oontinpMttly IiabN to tM 8ank as Maket, ~ndor~er, wr~ty, pwrsnta or ~ocomrl~qd~tion p~.ty ~
of sny othp not~, drstt, bill o! axch~~, a otlar iratruma~t, or otMrwist, ~nd tM 8ank m~y tM~tqfpr ~ztrelM dl riphq with ryp~et to s~id Collstasl
yrantld f1MfiR fVN~ th011QA thlf NOt~ ihNl h~V! bNn WIr~lldutd t0 tM 11A/klf. ~
If~th~ 8ank dNtnr itMlf inNeur~ w upon thr h~plhtny of rM~? 01 tha ~ollowlny rwni~, Heh o1 whkh fl+rll oamtltut~ a d~lault,.11 It~billtiN M~sc1~ Mak~r co j
the 8ank, irKiud~n~ ths ~ntln unpiid prir~elp~l of thb Nob N+d aec?wd Inbrpt. lau ~H~? uhMrfNd InMrMt Mxl rn~ (nt~rNt Ilf ~xe~N oi th~ enr~lmwn dlaw~d !
~ by law snd sny reb~tK rpuind by law, thdl In~bly a Hwinsft~r, ~t th~ optbn oi tl~ gadc, txapt th~t ths oau.r~ of Ic1 a(dl d~dl cauM wtomat- ~
~ ~c acceleration: wiMout notia w d~m~rd. b~ooerw dw ~nd p~y~blt: (d tM fallclr~ ot arry? ObHpo~ to p~rfwm uW obli~tian, li~biNty w daim to t!w B~nk, to psy ~
~ncerett Mreon wiMin 1Od~ys a1tN it it d~N, or li dNr~ b Ao dw dat~, atqr it is Wlbd a oth~rrvf~e rpwttsd or demand~d. a to piy ~ny othM liability whst- (
soeve/ to tM Bank wMn dw; (bl tM dNth oi aml iNdividual Oblipa, tIN di~solution oi any ~atnetfhip ObUqor or tfN di~olution, rnK~ o?oonwtid~tian witM
out tM Bank't prior writtM tonant oi sey eo~pO~atM Oblpa; (t) tIN filitp oi s p~tition in bM~krUptey W tM ~djudlCStlon ol inWlwncy a b~nkwptey unda ~
any .wrysnisation, ursrg~nent, ~bdju~rment of d~bt. di~wlutan, liquid~tion a ~imilar procysdirq und~r sny F~de.~~ or saa natuu. by or a~ies~ snr ~
Obigw; Id) sn appliertion fa tM ~1~pointlnMt of ~ r~0~iwr fqr, a tM nWcinO of s pNwral ~t for tM b~n~fit of cnditws by, ~ny Ob~ipw; tM ~na1r ~
o} iudqnwnt ptimt ~ny Obli9or: (t) th~ awinp oi u1y attaehm~nt w yunuhmMt, or th~ filinp oi sny Ii~n, p~in~t ~ml prop~rtY ol sny Oblgor: (yl N+~ ukino ot ~
posswion of sny wb~tsntisl pat of tM ptopKty of ~nY Oblpor at tM iratanc~ of ~ny povrnxmntil wtlw~ity: IN che d~mrpin~cion by cM Ba~c Mac ~ nwari-
a~ aAvKM ehanM h N ooeurr~d in t
M t ln~Ne 1 H i
d N d l t l o A o
t NIy O b
l i d
O t i?Wff H N C
W K I I t b f M Nt f b t t h I fl U N f l l d i
t M W n t i 1 h~ n C I M t t~ t
a n l tl l t o
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h O W g o r ~
ne~ecofor~ furnbh~d to tla ~ank, ar irbm tia ean~itlein of weh Obliqa a IN?ttofa! n~ost nantly diidaW to the Bank; a thst ~ny vwrranty, rp.~nq~~on,
ccrtlfle~t~ ot ~NtlllNilt ol ~Ily dNl~a (wM~thM eeMtMn~d In dN! NaM tlr.nQfi W~blh~~q to or Ia ea+n~etbn wlth thls Nob a the fan wldn+o~d br MK No~e ;
contaim an untrw ttat~nt ol mttltlfl i1~et o? ~AtIM tb stati ttrtKl~lliEt n~elau~r In ord~ tts nrk~ th~ ttatenwnts m~N not mitlNdin~; a, lil tM a~pn- ~
r?~em by sny I~A~Iw ot any ~qUity in sny oi th~ Ctl1111Hn) without th~ piwr w?itt~n ~fs~nt o/ iM 8ank. +
tM 8ank shal) Haw, but thill flot b~ Iirt4itN~ t8~ ~ followiAp ripAq, qeh oi whi~h nuy b~ ~xKeipd it arly ti~rM wfNthN w not thi~ NOq it dw: (i) to ~
pi~ a tranN~ Mb NOt~ Md NN OolqtlrN rfld dl~ rNYc MWI dNtwlpon W r~INwd of NI duHN and r~IpwbIb111tN! 1Nnundh a ~NNwd hom ~nr and a1~ i
I~sbillt~r wtth ri~p~et ta ~n~r Col4tinl a pl~Jwd or trM~ef ~Mnd, ~nd anY PM~kN a trwaf~ dNll fa ~fl purpo~ ~t~nd In th~ Plaa~ tl~ 8ink h~rwnd~? and (
tuw NI th~ rl~hb M tIN daMk k~rwMlu: (ll) M tNA1b? t!N wlwN e~ any pirt ol dN CollatN~l lnto th~ nanM of ~b~lf or ite nominN: litil to vou th~ Co11~ma1: ~
twl to notifp tM OWipon of ~ny Co~I~t~a1 to m~k~ prym~++t to eM BrMc oi any amounts dw o? to b~eonw dw th~non; (v) to d~nwiQ, ~w ior, eolNet, a E
rt?~k~ ~nY to~ iN 4? NttlNMnt it ~~sirabl~ with ntN M tht ~~SSOC78~ES ~`Yn~°pa
~'/or`°~tLS ~8~1 /lo~l~ of CollaUql. •
~ ~NK as used erei n means j ur~e Ree 9 ;
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NOTICE: SEE OTHER SIOE fOR IMPORTANT INFOFiMATION e~3~~ P~GE \~'hrV ,
F~s ~s: A~r. 7/~~
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