HomeMy WebLinkAbout0855 ,
~ ~ INSTALLMENT PROMISSORY NOTE
TURTLE REEF ASSOCIATES, INC. w~,~~ s 7599~00 ~
. . QANK NAME none
Jensen Beach, Florida 33A57 u~.ic~~a+iw i^~. s
~c~ o«~~t~.v st.~ s none .
~ OFFICE ADORE (O) OtIN~ ChMqu litNflit~) s none
te? = none
NoT~ No. on,reo: March 22, ,1e 79 ~F~ = none
Apr11 6, ~ w~~~ F~~.e - 7598.00
oue: ,1e 89. e, c, o, e. F? s-.~89".-68--
lF+f ~niena = ~
PLACE: , FLORIpA ~itlmhqg~tion =
Fo~ wlw naiwd. tM und~:gnecf (hN~inNtK u1Md "IM~k~~") lointhl snd stvs~slly iif (J) Ot1+K =
ma~ ihin o~) Womit~ to pay to order of Mtg~~ , at its oftiq list~d abow, the7q
q~ (K~ :
ot Paym~oa Hrom IN? s~ riqlrtl oi 13 083.60 - pa~= psy~p~ in 1[U IU t
eaw+ moo~nw ~~nuum.na o~ 3 • .~n~ rrst IMI FINANCE CHARQE ~85. 60
~ns~allmcnt du~ on ~ 6~ 19 9. and wb~qwnc insullm.na du~ on (H, 1, J. K, l) _
• IN) Totai of P~yn~a ((i + M) t~~~•~-~
~n.~y ot ~~~n tn.n.tu.Lto~.cn.r w~d, s F~NA~
BA~~ooN Pnv_MEn~
OF: ANNUAL PERCENTAGE RATE • %
s oue , ~9~
~ The Bsek sNsN i~ s daiieqwncy chsry~ aysirut da Mak~r on any psVment whicA Aa~ b~oort~t. dw and nrryiro in detwlt fa a pwiod in ~xp~t ot 10 ~
days in an smount pusl to 5'X ot tM smou~t of the p?incipal part of th~ psym~nt i~ deiwtt. In tM wint tMt tM Not~ is not psid in futl at mtturity, sll pa~y-
rne~cs, wAe~ha principal, inter~st a otAKwis~, shstl bar inttnst st tM msximum le~l ra[~ albw~d und~ ths lawt oi tM St~te oi F{o?icf~. All psyn»na m~
hereund~er shall b~ tndit~d fint to int~nst snd dNn to printipsl, howe~r, in tM ewnt oi d~fsult, tht Bank may, in itt ~oN discntion, apply any p~yme~t t0
~n~eresc, pri~cip~l s~dlw lawful chuges th~n socrwd. It is tM ints~tion of th~ parties hs~eto N?at tM provisions Mrein shsll not p~ovide dinctly a ind'n~etN
tor tM psyn~p+t of s gre~t~r rate of intaat or the reantion of s~yr othsr charge than a slbwcd by law. If, fo? sny rpson, inter~st in exust of such IpN r~te or
a cAa~ prohibitW Dy 1sw shslt at say tims b~ psid, sMr weh exceu sAall athe. constitua and b~ tnat~d ss a paym~nt on tM principsl or be nfund~d dihcily
to tM M~kar. .
The IWker may prepay the ~ntin unpsid balance of th~ toan at any time. Ii the losn is prepaid in tull, sccelersted w nfinanad, the IN~k~. shsll neeiw ~
.eiund of ~he unW.ned portioo of che intere~i snd inw.snce premiums eorn~utad by the Rule oi 78's method, exoapt dut ~M Baok shN1 b~ MZitNd io r~uin
a minimum intN~ft Chs~p~ ot ~'1,~.
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CREDtT LIFE AND CREOIT LIFE 8 DISABIIITY INSURANCE ARE VOLUNTARY AN~ NOT REQUIRED FOR CREOIT. Such iriwranp eovrtaye is
available si tM cast dtsiynsted below fa tht term of the asdit: (a) = fo. Gedit Life Inwr~np (b) S
for GWit Life d~ ~issbility lnsu~ance:
Check ? G~dit life Insurance is desired on tM lifs oi
APP1• Birthdate
Box ? Credit Life Sc Disability Inwrance is desired o0
r~ 8irthdate .
U G~di~ Lite and/or Oisahility Inwranc~ is eot desired. ~
Date: ~~f1 22, 1979 " s~~~.~ - ! •
. - . , N rbert . ~
Signaarc
As security fpr the payment oi the Note tNe Maker Aersby gra~ts to tAe a interest ~n t lowing proplrty:_~~~_
0 P ~ 235... Unit Weeks 34 and 35
n. C-
. o. - as reco e on sa aar g ge.
mcluding all intrqses, wbstitucions. r~plstertKnts, additions and accessions thereto and in tt?t proceeds therwt (henin~iter call~d "Colbttrd"1. This s~writy
' mterest shell alt0 ssture any othK inttlbtadnets or (isbility of tAe Miker to th! Bank duect or indirlCt, abtolut! or continpent, dw or to b~tom~ dw, now tx-
~ ~stieg or heteaftN stisirg, intludiog aU future ~dvanc~s pr Ip~ns by the Bsnk to tAe Msker.
~ , . .
~ Tht Bank it ilso vM s lien a~d ~ s~curi
pi ty int~rtst in atl prapert~l and sccurities ot the M~ker, endorm, wnty. 9uarsnta or accorrwnodation puty of Mis
E No~e (Mr~iratter nferred to as the "Obligon"1, now in o? at sny time herufcer comirg ioto the control, cuscody or pots~sion oi tAe Bsnk, wAe~ha for the ~x-
j press~d purpose ot b~in~ u~ed by the 9a~k ss Collamal, o~ tw sny otMr purpose, and upon sny balanc~ or batane~s to the a~dit ot sny sccounn, indudinp
' trust and sy~ney apcounts maintained withthe Bank by sny of the Oblipors, snd the Obligor~ sgne to dNiv~r to tM Bsnk additionN CollaterM w m~k~ such ~
~ paym~nts in reduction of cM prlncipsl amount oi tlf~ Iwn ss shall be sstistaetory to tfie Bsnk, i~ the event che siwement7oned Collater*~hsll deNin~ in value
or become urastisiactory to tM Bank.
~ Additions to, nductions or exchsrg~s oi, or wbttitutions for the Collaural, paymenK on axount of this losn or incnsses of th~ sart~, or othK Io~ns m~ ~
partislly w vrholly upon the CollatarM, miy trom time to tims be tnsde vvithoui sifecting tht prov'nions Of this Not~. The 8~nk sMll exertqe r~ssonsbN Car~ ie
sne custody ~nd praervuion oi the Coll~teal to d+~ exant required by app~icsMe:iatute, and shall6e d~errNd to hav~ ~xKCised rpsonable cH~ if it tskes wch
act~on tor tl~st pwpos~ ~s Malce~ sMll ressonaWy rpw~c in w?iting, but no omission to do my act not requaad by Msk~r shNl be dNm~d a i~ilun co ~xercist
~easonsWf ql~, snd no omisiion to canply with a~ry rpuat af N4ker shsll ot itself b~ dsemed s taAur~ to ~x~rcis~ reasomble ars• 8ank shN1 no~ be bound ~o ~
take any stqt neC~tsiry to preserv~ sny riyht~ in tM Collateral ayaitqt prip puties and Malc~r shNl take all neCessary step~ for wth purposes. TAe Bank or ics ~
nominN r~eed ~ot collect inter~st on, or s ptincipsl of, ~ny Collatenl or yive any notip with respsct to it. ~
Tht Bank msy oontinue to hold any Co1lstKS1 d~posited hereurder after the paymN?t of this Notl, if et tM time oi the psyment and dischar~ herlo[ sny of
the puti~s liablt tor t!N paymMt hereof ~IfNI b~ tMn direetly o? continytntty IisbN to tM Bsnk a= MNcer, endaser, wnri, pus.anta Or aoeo~rwrwd~tion pa•ri
of sml otM+ noa, drsft, bill of ~xehu~p~, w othN ie~ttrum~nt, or oth~rwis~, snd the Bank may tl?~rNfit? ex~rciss all rghu with rhpect to aid Colb[snt
grantad Aer~in ewn thoupl~ tbis Nott shslt hwt b~M~ surt~nd~red to tl~ IN~k~r_
li th~ Bank dwm~ itself irtsatun p upon th~ happMinp of sny of tlte followinp eve~ts, each ot wAich shNl tonstitutt a ai~ult, sll lisbilitia of ssch Malc~~ to
~ the 8ank, intluding tM ~ntin u~psid prineipN Of dfis Not~ and scuu~d inttrat, le~ sMr un~imed inLerat ~nd sny inqr~st in ~xetp of th~ msxiim~nt slbwN! ~
by Isw and any retistes requir~d by law, ~hNl imrndi~tely or tMrqft~r, at tfi~ option oi tM Bank, exClpt that the oCturr~nee of (c) or (d) fhNl csuM sutomat- E
„ ~c accelerstion:without notie~ ord~nw~d, b~oortrdw and piyaW~: ls) the failurs of any Oblipor to ppform u~y oblip~tion. tisbility w daim to tM Bank, to pry i
~nterpt hKeon within 10dsys ati~r it if dw, or if th~n a no dw dste. ~fta it is billsd o? odNrwi~ requuted o? darn~nded, or to pty sny otM? li~bility what- i
~ soeve. to tM 8ank wh~n dw; (b) [h~ d~sM of aMr ind'widual ablgor, tM dissoNUian of any psrcnenhip Oblipor or tM dissolution, rt~.~ o?oo~~olid~tian with- ~
~ out th~ Bank's priw writt~n consent of soy corporab Oblipor; (c) 1M filinp of s p~tition in bsnkruptCy or ths adjudiption of insolwnCY or bsnk~uptCy und~?
a~y rtory~niz~cion, srrsrg~msnt, n~di~stmsnt of d~bt. di~olucion, liquidation w similar proc~eding uMe~ any F~derN or :uu ~tstua, by w a~in~t sny ~
~ Ob~~gor; id) sn application fa th~ at~pantment of ~ npivrr for, or tM m~kin~ oi s~~~I sstipnrtNntfor tM b~n~fit of u~ditors by, sny Ob1yw; tM M[ry ~
ot ~~~t ~psimt ~oy Obliqor: (fl tM isainy ot ~ny ~ttachm~nt or p~rnhhm~nt. or tM filinp of any li~n, ap~inst ~ny propeny of any Oblpor: tl+~ akirq M
p possas~on of sny fubstantial p~rt of q~ prop~rty of ~m Oblpa at tM irounee of ~ny yowrnnwntal ~utlwrit~r: (h1 tM d~tKmi~tion by tht Budc that ~ nrari- ~
~ al adve?s~ ehsnp~ hss opeutr~d in d~t finanti~l tondition of any Oblgor irom tM tonditiont s~t forth in tM mott r~pnt fin~nciN sUttm~nt ot ~ueh Ob1ga
ne.etotort ~urnitlwd to tM 8ank, or from th~ tondition oi wd~ Oblqw si herewfor~ rtwst nqntly di~do~t1 to the Bsnk, or th~t ~ny wrr?~nty, r~p~nation,
~ cert~ticst~ or tUt~nNnt of ~ny Oblipw (wMth~t oontaiMd 'en this Nots or not) p~rtaininp to or in oonn~ction witA this Noq w tM laan wid~ne~d by tl+is Not~
~ cor?uira an untru~ stat~m~nt ot tn~tui~l i~tt w omip to tt~te tn~terial faet r~ry in order to m~k~ th~ ~atKrNnts m~ not mitlpdino: o`. (il~ tM M~gn-
mem by any IWIw of sny puicy in aMr of ch~ Collat~nl without tM prar written caq~nt o! tM Bank.
~ Th~ Bank ~SII hav~, but shsll not W limit~d to, t!M followinp rghu, fiCh OI YYhICh ftliy b~ QtKCiMd aT Nly tiRf! WINtAN O~ 1fOt thtf NOt~ if dW: (i! to
P~adp! or tramfM this Not~ ~nd tM Co11atK~1 snd th~ B~nk tl~ll thN~upon b~ reli~wd oi sll dutNS snd ~Npontibilititf lNr~und~r and rNi~wd hqn !ny ~nd NI
lisbility with r~sp~ct to any Collat~ral ~o pbdy~d or van~fund. and anlr pbdpM or transtKN ~hMl for a!1 purpo~s stand in tM ptaq oi th~ BN+k hK~undK ~nd
haMe sll tM ripAtf of th~ 8snk ha~ur~r: (ii) to tnnttN tM whof~ o. any p~rt of tM Coll~arsl into tM nartM of itsdf or in nominN: (iii) to wa th~ Coll~te?al: ~
livf w nociiy tM Oblipon o/ any Coflamsl to mda p~ym~nt to dw B~nlc of anY ~mounts duf or to b~can~ dw tMrwn: (v) to d«n~nd, wk for. eolbct. or
P ~k~ ~ ~
*~'B~NK~ es
used e~rein m~eans ~ur~e`~Ree~~ssoc'~a~es; ~`n .~°i~"an~/or°O~`~s °assign°sid' °i ~0~~~'
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NOTICE: SEE OTHER SI~E FOR IMPORTANT INFOHMATION g~~~ PAGE ~
FBS ~52 R~v. 7/77
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