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~ ~ ~ INSTALLMENT PROMISSORY NOTE i
R'
TURTLE REEF ASSOCIATES,wINC. * ~a a.~,,,d - = 3,352.00
eAN ~?ME ~e~ v..~,m t~.~~ none
Jensen Beach, Florida 33457 ua~a.~~in, s
tc~ o«~~u.v sw~ = none
ORFICE ADORE ~ (D) OtM~ ChNq~! (it~Rlii~I s none
tE~ s none
MoT~ No. a?reo: M~rch 12 .,s 79 ~F~ s none
~ 11lbtia~ry 12 84 ~W A110Y4c,F'"~'~ 3 35a _00
~11E: ' .19_. (A. 9. D. E. FI i '
tH) Inbr~st = ' ~
PIACE: . FLORIDA (1) G~dit Invati~tion :
fw wlu~ r~ceiwd. cM unda:gned (hK~in~lu? plNd "Maksr") jaotly and sw~rNly (it (J! OtMr s_
ma~ thao on~) promis~ to pa~? to tM ~c~r QfjQt ~ilc, at itt oNiq lisUd abov~. th~ TpW (u = !
ol Payn~r~ts (lran (N) at rqhl) of 4~ Z/3. ZO pa~ ~y~ i~ 00 t f
evus~ mone+hr ~~~a~trn~nn ot s • .~e~ t~n~ IM! FINANCE CHAROE 9•~
~ns~N~e,.nt due on A1~ri , 19_. s~,a wbs.vu.ot ir~sn~~n,.nts au. on (H. J. K, l) s ' .
21 (N) Toal ot PayrnMts (G + M) i
c~+e S+~iy o~ ~~onth ~~~sttNttoptthK with : F~N/?~
eA~LOON PAYMENT OF: ANNUAL PERCENTAGE RATE • % -
S DUE ,19'
TM Bsnk shsll impo~ s ddinquency ch~rp~ sg~i~qt tM IWke? on any psYm~nt which h~s b~ean~. du~ ~nd nm~irq in d~fsult fw a p~rlod io ~xpa ot 10
days in sn smount pwl to b% of th~ amount ot the principal pa~t oi th~ payment, in d~twlt. In tM twnt tlNt th~ Nob b not p~id in fult at m~turity, NI pay- ~
ments, wAed?a p?incipal, inttnst or otherwise, si~sll b~ inUrost ~t tM msximum legsl qb Nbw~d u~da ths laws oi th~ Sqq oi Florid~. All paymenb nl~
Aereunder shsll b~ cr~dit~d first to intKSSt snd then to p?incipN, how~~ret, in tM evMt of d~fsult, the B~nk m~y, in it~ toN disCrelion, apply any p~ym~nt to
~nierest. pri~cipsl andlor Isw1u1 chug~s tMn aoerwd. It a tM intention of tM parties hertto Mat tM prwisia?s far~ie ~11 not provid~ dinctly a indir~ctly
to+ tM psvment of s grpter n~te of int~rast a tM rocention of sny od~ chuge than is albwed by law. Ii, tor any rpson, inttnst in txust of weh Ip~l wt~ w
a cl~s~qt prohibit~d by Isw shall st sny time bt paid, a~y suth expst ~hell eicl~e? tonscitut~ snd bt trtat~d ~t a p~ymM~t 1~ tM p.inclpa( or b~ nfuncl~l dinetl~l
to the NWca. • .
Th! M1kH Ifliy ~1?~~llY Mf Mtlt~ uepsid bslanc~ oi the losn at sny time. It tM losn b pr~paid In full, ~ccelKSted o..nfin~ne~d, tM IN~kK sAsll r~piw a ~
relund of tM u~xn~d pwtion of the interett snd iiuuranee premiums tomq~ted by tM Rule of 78's nNthod, ~icdpt.t~yit tAt Bank ~hall bt Mtitl~d to tetsi~
a minimum intapt chsrpt of s6.00. ~ i
CREDIT ItFE AND CREOIT IIFE ~ OISA8ILITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO F~ CREDIT. Such i~uranptownpe is ]
available st tIN cost desi~natsd below fa the term ot the aedit: s for G~dit Ufe I~wra~cs {b) t ~
for CrWit lih 8 Oisability Insuance:
Chetk ? G~dit lile Inwrance is desired on th~ Iife oi
~1PP~. . Birthdat~
Box ~ Cradit life ~ pissbitity Inwrarxe is desirad on .
Birthdate
~ Credit Life andlw Oisability Inwrance is not desired.
Date: ~ Q~1-'^~ ~ 2% ~ 9 7/ Signstu.e n'+G t'U J• J~G'a'`,p
• na . nn s ~ ~
f ~
. Siprwture 8011fliQ S tt1a.~1tS ~N--t..e_~ Y,a + Q'?'t.G~~
As sacurity for che paymenc of tAe Note the Msker her ~o t ea , ~ te. ~ f pr In Tur~] eReet Cor~d . I,
~
recorded i n 0. R. Book 263, Page Un~t ~`ee
c~~ ~n ~om~ R~. as escr ed
i in said m~rtsag,~_
i ~~cludirg a11 int~~ssK. whsticutioiK, nptaelrrMnts. sdditiOtK snd atoessions tAereto snd in the proceeds Mereoi (henenatt~r plled "Collat~ral"1. This s~turity ~
f ~~terest sl?NI slso tatun sny o[her indlbt~dn~ w liability of ch! Milca to the Bank dlrsct or indintt, absdute o. contirgsnt, due or to b~tome dw, now ~x-
~surg a M.ea(ta arising, includiny ~11 fuwre sdvanca a losns by the Baok ~o ~he Nl~ke~.
{ The Bank is alfo pivM~ s Iien snd s f~writy interKt in ~II prOplrty and securitNS ot the M~ker, endor~tr, wr~ty, yusrsntw w xcwtwrWdstiOn puty of thlt ~
~ Note Ihtrtinafter rtfpnd to as the "Oblgors"1; now in or at any timt hertaftK tomirg into Me contrd, wstody or possttsio~ oi th~ Bsnk, wMtMr fa tht ~x- ~
presfed purpose oi b~inp used by th~ Bank ss Colla»rsl, w lor sny other purpos~. and upon aery balann or bsl~s to tNe nedit oi sny ~ocou~q. indudiny }
t~ust and ~ney aaounn msintaierd withtM 8ank by any of the Oblipors, and the Obtigon agrN to dNivrr to tlw Bank additional CotbtNN w mNce sueh j
paym~nts in reduction of tlw principsl ~mount of th~ loan as shsll b~ ptisisctory to che Bank, ifl thR QVlllt th! i~0~lrtlffltiO~ltd COll~tftil fhi11 dKIiM i~1 YilUt~~ ~
or betorrl! u/KStistattOry to tIN Bank. .
Additions to, rsduttions w ~x `
cAsn~s ot, or wbstitutions fw tM Collatenl, psym~nn on saou~t of this Iwn or i~cr~s of tht or oth~r loans mxN .
partislly Or wlWlly uppn tM Cpllater~l, m~y from tims to time bt rt~sds without sifactiny tl~e provisio~s of this Note. Th~ 8ankshall ez~rcis~ rqsonabq txt in
The custody u~i pr~s~rvatioo ot cl+e Collatersl to tha ~xt~nt raquired by applicab~e statute, and shall bs dNrtwd to hsv~ ~xaciqd ~wwnabN an if it Wea wc1+ t
acc~oo for tbst purpoa a~ IM~k~r sAsll ~WSw~bly r~wtt in w.iting, but no omission to do u~y set not rsquaad by INsk~r shNl b~ dKm~d a/silun to ~n~rcise 1
reasonibtt tar~, and no omistian to oornply with atfy rpulst of M~ku fhall of itsslf be d~emed s fsilure W~xerti~ naton~bN pre. Bank shNl not be bound to
take any stp~ Mqsssry to prYNrv~ any riphtf i~ tht Collat~ral apaimt p~ior parties and M~Icer shall t~kt sl! Moess~ry K~W tot wth purpotes. TIN BN~k or its (
nomin~e nNd not colNet innrest on, or a p~i~eipd of, any Collataal w yiw any notice wiM nsp~ct to it. i
~
The Bank may continue to hold ~ny Co1latKd d~posit~d hsre~nder ~tter the paym~nt of this Non, ii st the tirrn of tht payment snd d~seh~y~ Mnof any of ~
eM parti~ liab{e for tM paym~nt henof ~hall b~ tMn dinctly a oontinpe~[ly IiabN to th~ Bank as M~ker, endorar, wr~ty, 9usrsntw or ~ocan~nodition pa•~y ~
01 any oth~r not~, dnft, bill of ~xchseq~, or othp instrum~nt, or othpwise, and tM B~nk m~y th~rpft~r exKCat sll rghts with ryp~ct to~yid Collattrsl i
9rantM lNrtin w~n thouph this Not~ shNl hiMt bN11 wrt~nd~rtd to t1N M~k~?. . ~
If t1~e 8snk d~ems icsMf iru~cun w upon tM hsppre~{rq ot ~ny of tA! followinp ~vents, ~sch of which sl?dl oo~utitut~ a d~f~ult, sll lisbilities of qd~ Msk~r to '
~ tne Ssnk, ineludinp th~ ~ntir~ unp~id principN of thit Non and seuu~d inqntt, l~ss sny un~ned inqnst and any int~t in ~xoys of tM m~xirtwm allovwd ?
by Isw a~d sny r~t~s rpuir~d by Isw, ~MII imn~distMy or dMrqfqr, st tM option ot tM 6aMc, ~xapt thst the oocwnnoe ai (e) w(d! sMll tawt automst- !
~ K socek.~tion: without nocia or d~mrnd. b~ooe» dw and psqaWr. (d tht failurt of a~y Oblipor to p~rfwm antr obli~tion, ti~biliq or daan to tM Brnlc. co p~y
~nter~tt hKepn within I Odsys aftK it ir dw, o? if 1hNe i~ no due dat~. af qt it is bill~d o? otlf~wiN nqust~d O? d~mM~d~e1, o~ to paN any othN li~bility what- f
~ soeve? to tht 8~nk vMNn dw: (b) th~ dwth oi ~ny individuM abligor. tM d'a~olution of any p~rtrnnhip Obli~w or d» dis~olution. mup~?or ooniolid~tion with- 1
~ out th~ B~nk's pr'wr w~itt~n con~nt d sny co~porstt Oblipor: (e) dw filirg of ~ qiitbn in b~nkruptcy a d+~ sdjudi~ation of insQlv~ncy w lqnknpay undK j
~ any reo~~nisation, sr?N~pMmet, tNdjutteNnt of d~bt, di~OlutiOn, liquid~tion a similar proa~dinp und~r sny F~d~rN oi ttate statuu, by o? sq~inst any j• I
~ Obti9w; (d1 ~n appliqtion fw th~ appointnwnt of s nqhra for, or dN rtrkirg of a peMral a~sipnm~nt fa tM b~fit ot cnditon by, any Oblqa; tM ~nay ;
of ~i~t any pp~ppr, (t) tM istuinp of any ~ttaehrmnt or y~rnithment, or tht tilinp of ~ny IiM. p~itat sny propatY of sny Obli~w: tht t~kino of i
~ vossession o1 an~ wbstantial ps~t of cM propaq? of any Oblqor at ch~ irutana of ~ny yov~rnrewnW auMaity: (h1 tl+~ d~tKmimtion by tht Bank tha~ ~ maeui• ~
~ a~ adwrq ehsnp~ f~u oow~nd in tM finsncirl taidition of an1/ Oblipor from tM cp~ditiw~t Mt torM in tIN most r~qnt finsnci~l squm~nt of w~d~ OWga 1
heretotor~ furni~d to the Br+k, or irom th~ condition of wd~ Obtga as lwr~cofors mat nantly di~daed to the Bsnk, a~hat any wrranty, rp.p~naiion, (
~ ce.~~tiest~ w sqanMnt of p~y Oblgor (wh~thp oonain~d in thie Not~ a natl p~?tafninp to or in oonmetion with tAii No~ a tM Io~n wid~ne~d bY MM Non ~
conuin~ s~ untrue ttatemMt of m~t~ri~l f~et w omip to sUU mstaial faet n~awry in ord~r to m~k~ th~ statarwnes n~ no~ mi~INdi~; a, (i) th~ a~pn• ~
mem by s~y Nylw oi any squity in any of- th~ Co1lat~rN without tM priw writt~n oora~nt of tM Bsnk.
Th~ 8ank thall Aav~. but shsll not b~ IimitsA to. tM tolfowinp rqhis. Neh of whith rt~t1r b~ ~~u?CiMd st any tirtN w1»tAK ot not thit No~ a dw: (i1 to !
P~sdY~ o? tr~ntfM tha Noq and tM Colt~tlrN and N» B~nlc tMll tlNnupOn b~ rMilv~d ot NI dutNt and rapon~ibilitMt Mnundtr N~d rNitv~d hom ~nY and all ~
liability witA ntp~ct to anY Co11s1uN q Pbdp~d or tn~sf~rr~d. ~nd anr plid~t o? trarNfKN fhall tOt aU purpoMS ttMw! in tM ptaq oi qw B~nk h~r~wdK ~t~d ,
hav~ NI tfN ripht= of dN Bank I~~i1fdN: lii) to tr~lar th~ whoN ainy_pYt o1 d~ CollatKN iMO tM nsnN of itMif a ip nominN: (iii) co wp tIN Collannl: ~
(iv) to notify th~ Oblipon of any Collaursl to nrlc~ p~ym~nt to tM Bmlc oi am? smounq dw w to Mooen~ du~ tMrwn: lv) to d~na~d. wN ta. coil~ct, or !
rrnk~ ~ny comRr pr wttNm~nt 't ma ¢airabN witb nf~r to th~ ~ol~t~ral apd (in) to 1~C an0~0Y'~tLS ~BSS
l9flo~dt of Co11~tKa1. ~
*'~NK' as use~ ~ierein means iur~e Reet ssoc~ates, n, :
NOTICE: SEE.OTHER SIDE fOR lMPORTAN? IMFORMATION b~,~~^,~ y ~
F65 752 R~v. 7/77 , ~ pUV~1 ~R~ ~ ±
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