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Home My WebLink About0850 t - . r -~~-f , ~ INSTALl.MENT PROMISSORY NOTE ` t i , ~ * (A) Amount R~iwd s '~t411~w ~RTLE R~E? ASSOCIATES. IMC. ; BANK NAME (81 Prtmium tor Credit Lit~/Disability Ins. S '.0• ~ ~d~ ~ ~7 (Cl Documentsry Stemps s OFFICE ADORESS 10) Oth~r Chargss (itemizd S ~ _l ~e~ s ~ ; NOTE NO. DATEO: YVn~ Sa . 19~~ (F) t ~ (G) Amou~t Financed 3~~i1•~ JW{@ 16 , 19~ IA, B, C, D. E, F? S DU E: ' (H) Int~rat = • ~ PLACE: . FIORIDA. (1) Gedit Inv~tigation s IJ) OtMr S For value reteived. the undersigned (hereinafter tslled "Maker") lointly and severslly (it (K) s more than orn) promise to pay to tha o~de~ of Me Ba~k, st iu office listed above, the Total , of Paymenn (from (N) at right) of _ Ootlars payable in ~ _ ~ eyual month~y insca~~rne~t: ot S - • , the ~irst ~M) FINANCE CHARGE (H, 1, J, K, LI S-~-.~ ~nstallme~t due on ~(j~lb . 1~_. snd wbsequent insWllments due on (N) Total of Paymena (G + MI S che1~day ot each mo~th thereafter, togsther with a FINAI. BA~l.00N PAYMENT OF: ANNUAL PERCENTAGE RATE • 9L s ~ oue . The 8ank shall impose a delinquer?cy charge agsinst tAe Maker on any payment wl~ich has becort~e due and remains in deisult tor a period in excess of 1~ days in an amount equal to 5% ot the amount of the principal part ot the payment in defautt. In the event tAat the Noie is not paid in full at maturity, all pay ments, whether principal, interest or othervvise, shall bear interest at the maximum legal rate allowed under the laws oi the State of Flwida. All psymen~is made hereunder shall be credited first to interest end then to principal, however, in the ever+t of detault, the Bank may, in its sole dix~etion, apply any payment to ~ncerest, principal and/or lawtul charges then atcrued. It is the intention of the parties hereto that the provisions herein shall not provide directly o? indirectly for the payment ot a greater rate of interest or the retention of any other charge than is allowed by law. If, (or any reaso~, interest in ezcess bt such legal rate o? a charge prohibited by taw shall at any time be paid, any wch ezceu shall either constitute and be t.eated as a payment on the principal or be retundad dirattly to the Make?. The Make~ may prepay the entire unpaid balance oi the loan at any time. It the loa~ is prepaid in full, accelerated or refinanced, the Maker shall receive a ~efund oi the unearned portion of the interest a~d inwrance premiums computed by the Rute of 78's method, excep[ that the Ba~k shell be entitted to retain a m~nimum interest clWrge of ~J.~. CREDIT IIFE AND CREDIT LIFE & DISABIIITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT_ Such inwrance coverage is ava~lable at the cost designated below for the [erm of the aedit= (a) S for Credit Life Inwrance (b) S for Credit Life & Disability Inwrante: Check ? Credit Life Insurance is desired on the life oi qpp~, Birthdate 8ox ? Credit life & Oisability Insurance is desired on - Birthdate ~ Credit Life and/or Disability InwranCe ~s t desired. 1 i `J!~`! ~7 ~ g r ~ T ~ ~y~ Date: ~ Si nature~ r~~ --s l`~ - ieo~ _ M~lktr Sigrwture • As security tot the payment of the Note the Maker hereby grants to the Bank a seturity interest in the following prope~ty: p t • a~ r~cnrd~d ie A R esek 256~ Ma~~~. tlult Wk 13 1e Cn~d. C-12, A~t. lb_ [-12 as d~se~h~d . i• s~td ~srtaa~e. . ~ncl~ding all increases, wbstitutio~s, replacements, additions and accessions there[o and in the proceeds thereoi (hereinaf[er called "Collateral"1. This security 4 ~ncerest shall also secure any other indebted~esx w li~ility of the Maker co the Bank direct or indirect, absolute or contingent, due or to txcome due, now ex- ' ~scing or hereatte~ arising, intluding all future advatxes w toans by the Bank to the Maker. ~ The Bank a also given a lie~ and a security interest in all property and securities oi the Make~, enciorser, wrety, guarantor or accommodation party of this ~ Note (hereinafter reterred to as the "Obligors"1, now in or at any time.hereafcer comi~g into the control, custodY or posseuion of the Bank, whetha for the ez- pressed purpose of being used by the Bank as Collateral, or fw any other purpose, and upon any balance or balances to the uedit of any aocounu, ineluding ` c~usc and agency accounts maintained withthe 8ank by any ot the Obligors, and the Obligors agree to GEliver to the Bank additional Collateral or make wcA ~ payments in reduction of the principal amount of the loan as shall be satis(actory to the Bank, in the event the aforementioned Collateral shall decline in value ~ or become unsatisfactory to tF~e Bank. ~ Additions to, reductions or excha~ges of, or substitutions for che Collateral, payments on accou~t of this toan or increases of the same, or other loans made partially or wholly upon the Collateral, may from time to time be made without aftecting the provisions of this Note. The Bank shall exercise reasonable care in the custody and preservation of the Collateral to the extent required by applicable s[a[ute, and shall be deemed to have exercised reasa?able care if it takes wch act~on for thac purpose as Maker shall reasonabty request in writing, but no omission to do any att not requested by Maker shall be deemed a tailure to exercise reasonable care, and no omiuion to comply with any request of Maker shall of itselt be deemed a failure to exercise reaso~able care. Ba~k shall ~ot be bound to take any steps necessary to preserve any rights in the Collatera~ against prior parties and Maker shall take all necessary steps fo~ wch purposes. The Bank or its nominee need not collect interest on, Or a principal ot, any Collateral or give anY notice with respect to it. r The Bank may co~tinue to hold any Collateral deposited hereunder atter the payrt~ent ot this Note, at the time of the payment arxl diseharge hereof any of [he parties liable tor the payment hereof shall be then directfy or contingently liable to the Bank as Maker, endorser, wrety, guarantor or accommodation pariy of any othe. note, draft, bill o( exchange, or other instrument, o~ otherwise, and the Bank may thereafter exercise atl rights with respect to said Collateral granted I~erein even though this Note shall have beer? wrrendered to the Maker. If the Ba~k deems itself insecure or upon the happening of any of the (ollowing events, each of which shall constitute a default, all liabilities of each Maker to the Bank, including the entire unpaid pri~cipal oi this Note and accrued interest, less any unearned interest and any interest in excess of the mazimum allowed by law and a~y rebates required by law, shall imrnediatdy or thereafter, at the optwn of the Bank, except that the occu.rence of (c1 or fd1 shall cause sutomat- ~ ~c acceleration; without notice w demand, bewmedue and payable: (a) the failure of any Obligor to perform any obligation, liability or claim to the Bank, to pay ~ ~nterest hereon within 10days after it is due, or if there is no due date, after it is billed or otherwise requested or demanded, w to pay any othe~ liability what- ~ soever to the Bank when due; (b) the death of any individual Obligor, the dissolutio~ of any partnership OWigor w the dissolution, merger w consolidation with- ~ ou[ the Bank's priw written consent ot any corporate Obligw; icl the iiling of a petition in bankruptcy or the adjudication of insolvency or bankruptcy ur?de~ any reorganilation, arra~gement, readjustme~t of debt, dissolution, liquidation or similar proceeding w~der any Federal w sWte statute, by or against any ~ Obligor; (d) an applitation for the appointment oi a receiver for, or the making of a general assignme~t for the benefit of cteditors by, aRy Oblgw; (e) the et?try ~ of judgrt~ent against any Obligor; (fl the iuuirg of any attathment or gamishment, or the filing of any lien, agamst any property of any OWigor, (g) the taking of ~ possession ot any substantial part of the property ot any Obligor at the irutance of any gover~mental authority; (h) the determination by the Bank that a materi- ~ al adverse change has oocurred in the financial cw~dition of a~y Obli9or from the conditions set iwth in the most recent firwr?cial statement of weh Obligor heretoforo furnished to the Bank, or from the condition ot wch Obligor as heretofore most recently disclosed to the Bank, or that any warra~ty, representation, cer[ificate or statement of a~y Oblgw (whether contained in this Note or not) pertaining to or in rnnnection with this Note or the loan evidenced by this Note contairn an untrue statement oi material fact or omits to state mate~ial fact necessary in order to make the statemenis made not misleading: or, (il the auign- ment by any Make~ of am equity i~ any of the Collateral without the prior written consent ot the Bank. The Bank shall have, but sha11 not be limited to, the following rights, esch oi which may be exe~cised at any time whether w not this Note is due: (i) to i pledge or transfer this Note and the Cotlateral a~d the Bank shall thereupon be relieved ot all duties and responsibilities hereunder and relieved from a~y and all j Iiability with respeet to any Collateral so pledysd or trans(erred, and any pledgee or transferee shall for alt purposes sta~d in the plsce of the Bank he~eu~der and ~ have all the rights of the Bank hereu~der; (ii) to trarnter the whote w any part of the Collateral i~to the name ot itself or its nominee; liii) to wte the Collateral; (~v) to notify the Obligors ot a~y Collateral to make psyment to the Bank of any amounts due or to become due thereon; (v) to demand, we for, collect, or ~ make sny wmpromise or settlement it deems desirable with ~eference to the Collateral; and {vi) to take posseuion or control ot any proceeds of Collateral. ~"~AIt1C" ~s w~d I~re1~ Mans T~rtl~ Re~t Assoclata Inc. a~o~ its usl9ns. NOTICE: SEE OTHER SIDE FOR IMPORTAI~IT INFORMAT ON ~85~52 Rev.7/77 go,K312 faGE $4~