HomeMy WebLinkAbout0875 . ~ ~ • 1~
. - • ~ INSTALLMENT PROMISSORY NOTE ~ ~
F'
TURTLE REEF ASSOCIATES, INC. * ~A? wnww+~ ~e«wo s 5'Tb0.00
S/1NK NAME ~e~ v.«~+^~ ~a a.o~t , none
Jensen Beach, Florida 33457 ~ . ur•~0~"~ s
tc? ooa~mM+t..,? sc«nv s none
OFFIC ~ io1 a,,.~ a~~ ~itM„u.~ = none
~ ' • = none
NOTE NO. onTEO: J~n 22 ~ .~s 79. ~F~ = none
Feb. 6 ~ 89 to! ~?awunt Fjn~nc~d 5~750.00
DUE: . 19_. (A. 6. C. D. E. P) =_~$Q..~
11i1 InurMt =
P~ACE: , FLORIDA C~dit lev~tti~tion :
U? OtMr =
For wlw nctiwd, tM u~sia~d (AK~ind1K ea1Nd "UA~kK"1 joindy snd Na~Nly (if (K) _
mon th~n oM1 promis~ to psy to tM ordK d tM 8adc, at ia offip list~d above, eM TotN
of Paymtnq (/rom (N) at rqntl of oaars wyaea cn 120 _
pua~ monthh? ir~cW o~ ~ • . th~ tirtt lMl FINANCE CHAR~iE $,3b8.80
(H, 1. J, K, U =
~nstNlrt~1.c dw on .19_. and wbMqu~nt iroW ~mMa du~ on (N) Toal of P~yn»na ((i + M) _ ~ • -
th~ 6twy of ~acA~wmh tlNndtKLto~etMr w~M a FINAL BALLOON PAYMENT Of: ANNUAL PERCENTAGE RATE • ~Kr_,
s r~vri oue . ig~ - ~
. . ? f
Th~ Bank s~all impw~ s dNuqwncy chwq~ p~inst tM IMdcK on any p~Ym~nt which hu b~oorrn dw ~nd rtm~fn in d~fwlt fa ~ pKiod i p ~ot 10
dsy: ~n an .nwunt ~yua~ ~o S% ot tM smouni ot th. p?ineips~ p..~ of ch~ p.ym~nt in dN•uie. ln eM ~v.ni tA.i d~ nloa b no~ paid in fu11 ~t nr~• , a11 pa~y
m.ea, wMM•r principsl. in~~~ a ocM~wia, sha11 bwr. int~s •t iM m•ximum tp.l nn.llorwd w~dv cM 1~ ot. ~h. Sun of Fb?id~. AII p~y a m~d~
hereur~ ~MII b~ u~dit~d fint to iriqrett. and MN? to prineipN, hoMwvrr. in tM Mnt of d~fault, th~ B~nk m~y~ in ib sol~ discntion, ~ppty sny p~ynNnt to
~n~uest. priecipN and/or tawful cAargq q~a~? souwd. It i~ th~ int~ntron oi tM p~rti~s htnto th~t tM provisia» Au~in shNl not providt dinetly w indinetly
1or th~ piyrM~t Of ~ grqtN ?aM of inqrpt or th! r~tMtiOn o1 any OthN eharg~ thuf is ilbwsd by law, lf~ ipr ~ny rN~on, i~tNtst in ~xp~i Of tuCh IpN qt~ Or
a ctw9t prohibiqd by law tf~stl at ~ml tirrN b~ p~id. s~ry wd~ ~xp~t shall ~ithp tonstitwa and b~ tnaad a~ payn~ent on tM {xineipal w h~ ntund~d dinetly
to the Mdctr. ' 1
TM Mskee may pnpay tM ~ntin u~w! b~lance ot the loan st ~ny tim~. It tM losn i~ pr~p~id in full, sccNaand a rNinsnpd. tM ~MkK sAsll neaiw a
refund of tM unprMd portion of th~ ~nt~rat snd inwnnq pr~miurtq eanputsd by tM Rul~ of 78'~ m~thod, ~xapt Mat che Bank shNl b~ MtitNd to nuin
a m~nimum int~r~st chsrqt of s6.~0,
CRE~IT LIFE A7dD CREDIT IIFE 3 DfSABILITY INSURANCE ARE VOLUNTARY ANO NOT RE~l11RED FOR CEiE01T. SucA imuran~ eov~ray~ is
available st tM cos~ daipnated below for tt~ tKm of tM rndit: (al s (or G~dit life Inwnnp (b) S
ior ~~dit Lif~ ~ pitability InfuanCt: E
Check ? G~dit Lite Inwnt~ce i~ d~sind on tM Iift of ~
APP~• BirthdaU
Box Q Gedit Life ~ Disability Inwra~te is tNsi?td on ~
r~ Bwthdste i
U CrWit Life and/or Oisability Inwranq is not desired. ~
1979 '
Jan 22, ~ ' ~
~ate: Signsture ~
ur e .
Sipn~tun ~
I1~ acurity for th~ p~yrtw~t of the Note tM NbkN Mnby yr~nts to tht Bsn ity in r t ~ fdt ~ In Turtl e_ Reef Cond . I ~ 3
recnrded i n OR. Boo k 263 . Paqe 2002. . Uni t Weett 44 and ~5 1 n~on~ ~`~p . o. - a ~
;
' ,nc ,np a mcrwes, subsci~uc~ons, r u. ~dd1ti011f ifM aCqffiOnf tll~flt0 itd 111 th! ptOCl~di thlllOf IhM~iMftN Cill~d "CollaarN"1. Tha ~euriq ~
, intenst shNl alfo qtw~ any otMt i~bt~dr~ts w liability of the M~kat to ths 8ank dinet o~ ind'rr~tt, absoluc~ or continp~nt, dw or ~o b~caM dw, now ~x-
~ ~stirg pr h~rptte? srising, intludiny ~II /utur~ adva~ps or losnt by the Bank to tM M~k~r. ~
Th~ 8~nk i~ ~Iso giwn s lien a~d s s~writy int~t in stl property snd s~curici~s ol tM ~A~k~r. endo?w.. sunty.9uManta or acconwrwdation paty of tha
~ Not~ (fwr~in~ftK niernd to as tM "Oblipors"1, now in w at any tim~ herqfter oominp into tM contrd, wstody or pop~scion of tM Bank, wMtlar for tl+~ uc- ~
p~emd Pu~Pos~ ot b~in~ w~d by tM Bsnk ss Collaunl. a for any oth~r w+rPos~, snd upon anY b~lana or bdanas to tM u~dit oi any aaoun», indudinp ~
! trust snd a~ney seeouot~ msinqin~d withtM Brnk
by ary oi th~ Obli~or~, and the Obliqon aprM to dalivK to tM Ba~k sdditional Co11a~a1 or mNa wch ~
~ paym~nu in r~duction of tM principsl amount oi tM lo~n s~ iMll b~ s~tisfactory to the Bsnlc. NI !hf Mllt thf ~~OfrftNllt~Oflb COII~tKM N1a11 ~IIM Ifl Y~III!
~ or bsCpfllf ufMitqf~ttOry t0 tM BMk. ,
~ Addi[ions to, nductiont p exchs~p~s of, w wb~titutions ~w tM Collatenl, paym~nts on aocount of thh loan or ine.~ of tM am~, or otMr loans m~
~ partislly or wholly upon tM Co1lst~rN, m~y from tim~ to tirn~ bt rtisdt without aH~ctinp cM provisions of this Not~. TM B~nk ~I+sll ~,cKC~» r~on~bl~ cart in ~
4 the cwtody snd prperwtion ot tht Collat~ral to th~ ~xt~nt rpui~d by appliesble sutut~, sod ~hNl b~ dMnrd to bav~ axNCiqd r~son~bN cu~ if h tak~s wtA
accion tor tMt pwpoa u Mrlcw shall r~orwbly ?~quat in writinp, but no omfssion to do ~ny act not raquaad by AA~kK ~hNl b d»m~d a f~ilun w~a~rci~t
resson~bb an. and no omiuio~ to tomplY with aey nqtNSt of M4kM d?NI of itsNt b~ d~etryd s i~ilu~ to ~xKCif~ nyoMbN tare. 8ank shall not pe bound to ~
cake sny ~t~ps rnps~uy to pr~rv~ ~ny rghn in dw CollstsrN aysin~t p.ior psrtiss ~d Maktr thsll tak~ all n~pq~ry s[~ps for sueh purpo~et. Th~ 8ank or its
nominM nNd not eoll~et int~rat on, or s prineipN pt, sey Collat~ral or piv~ sM? eotip wiM rqp~ct to it ~
TM Bank m~y oontinw to h~d any Co11atKN dpo~iad hKwr~r dtp che p~ym~nt of this Not~, if st tM time of th~ p~yrn~nt snd ditchary~ h~r~oi sny of ~
th~ pNtip IiaW~ fOr tIN paynrnt I~r~Of ~NMI b~ thM~ dir~tly or opntinprntly Ii~bN to t!N BM~k ~ M~k~r, ~nda~er, wr~ty. ~uarsntw or sooortrnodation ps?ty `
of p~y OthM not~. dqft. wn a.x~n.~+~., or odNr i~ttumrnt. Or od~Mwit~, and tM B~nk m~y therutt~r ~xKCi~s NI riphtt with r~t to p+d Co14wa1 ~
grent~d hfnin ~vN~ tholqh thif NoM t11Mi hM b~M1 iwtMtdN~d to tM M~ItK. ~
N ch~ 8ank dNnK italf i~cun a upon tM h~pp~nirq of any of fo1lowinq ewntt, ~scA of which ~hMt oomtitut~ ~ d~fault, NI lisbiliti~ of ~scA N4k~r to
ihe B~nk. i11C1Udlf1~ (hf Mtl~~ Yf1~ifl ~Ifincipl of thb Noq ~nd acuwd int~ntt. las ~y un~nrd inlKpt and ar~y int~tt in ~xpf~ oi tM m~xinwm albwa! i
by Isw and any r~b~tp rpuir~d by Uw, fh~ll i~frtNdiaLN~l or t1NrNft~r. ~t tM pptipn ot 1M B~nlt, ~xppt th~t tM oocwr~no~ oi (el or (d) ~MII CauM autQmat• ~
K soal~rstion: withort notio~ a d~m~nd, b~eam dw ~rd psyabN: (a) tM tailun of any Oblpa b P~wm ~ny obll~tion, Ibbility a d~im to th~ Bank. to p~y
inttr~tt fNnon within 1~d~ys iftK it i~ du~, or If dNt~ is no du~ dsU. aftN it is bill~d o~ otl~wiN r~wtt~d or dMttM~d~d, or to piy ~ny odNr I' , ility what• }
Y soevar to tM Bank vMa~ du~: (b1 tM daM of sny individual Obli~or, ~M di~otution ot aMr patr~ihp Oblioor a tht diaolution. m~rg~ a ' tion wiM- ~
~ out tM Bank's p?iw w?itttn cons~nt of any to~ponf~ Oblqor: (C) 1M fNiep of a p~tition in b~nluuptey or tiw adjudidNon oi intolwn~y or b~nk ued~r
~ a~y nor~niz~tion, uranp~m~nt. n~djus~rMnt ot abt, dil~olutiw~, iWui~d.tbn w~milsr proewdino w~d.. .ey F~daM w ~~sa intua. 4Y a ~Y
~ Oblqpr: fdl ~n sppliestion /ot tM appeintm~nt of a r~aivrr tor, o? tM trrlcino ot ~ p~ntwl awipmmnt to? tM b~mlit of u~ditors by. ~ery Oblgw: l~l tM ~ntry f
~ vt ~ud~n~ ~p~irut s~Y Oblipa: (f) tlN iaukq oi any m~ehn~nt oc prnqArnrnt, w tM (ilino of any li~n, p~irut arM? P~~Y o~ +~+Y eM qkin0 M t
vossmion of any wbstantial part of tM P~~h? of ~ny Oblioor at tM in~tana of any yoramn~nW ~utho?i~(N th~ d~t~rmin~tion by tM 6MMc eMt ~ nywi• _
~ ai advrrp dunp~ hp ooeurr~d in tA~ finrntiN oaidlapn of an~r Qbliopr from tfr tonditiw~s Mt forth in tlN most .~p~t finmeiM ttalMNnt of ~ueb Ob1ip?
~ nere~ofa~ furnaMd to tM 8ank, or fran tM eaidltion of weh Oblipor ar hrntofon mat npnth di~doMd to tM B~nlc, o. d»t mY warantY. nP?~nation.
~ certificaq w tqt~nNnt of ~ny Qblgpt IrMNtMr o0nt~i+Md in thi~ Nob or notl DKtaMNnY t0 0~ in o0ew~.'tiw~ wid~ tAis Not~ w th~ IoM~ ~?idrn~yd bY MN NoN i
conuin~ an untrw ~ut~nt o~ m~tuiN taat or omiq to ~qq rr»qrtal f~et ~y in ad~. to mdc~ th~ sut«rNnts rt~ not miHNdi~: w, (i) eM aeqn-
~ ment bY ~nY U+I~Icw ot snv wuitY M+~1? M tM Co11~tKa1 without th~ Prior w?itar? con~t ot tM 8~nk.
Th~ 8ank ~Asll hwr, but th~ll not b~ limiqd to. fM followirp ~qhti, ach ot whicf? nwy b~ uoKtiMd at any tirtN +MMtM? a not tha t~bM it dw: (i) to
p1~ or tntafK thi~ Nou and tIM Cotbt~nl and tlw BM~Ic dall iMnupon b~ n1i~Nd ot all dutiri ~nd rMpoe~ibiliti~t 1fMw~ ~nd rNi~Nd fran any and dl
n
Iiability witA n~pret to any COII~tMal !O pl~dOrd Or t?a1MfM~d. M~d MW PMd~M Ot ttMf~(MM ~Inll to? ~II purpo~s stand M tM pl~o~ Ot tlN B~nk MnundM Mld t
hsv~ NI tM ri~b of tM Bank hpwr~r:111) to u~ndM tM vMaN or any p~rt of 1M Collatual iMO tf~ ntnM d itwH p ip nominw: (iii) to wt~ th~ Coll~anl; 1
1 iv) to notiiy ~M OWipon o/ any Co11~taN to mNn psynMnt to th~ B~nlc of any ~mourn~ dw or to b~owrN dw th~r~on: (vy to d~nwnd, fw fa. oolNct, a ~
mstc~ in1? xttl~nNnt ' rsbN wid~ to tM tNa1; vi) to a W ot oca~de o1 ColUtKal. 3+
~*~'~NK~ as use~ e~r`e~n means ~ur~'re Ree~~ssoc~a~es, `~n .~an~/or°O~`~s as'~s~ns. ;
~ !
~ NOTICE: 8EE OTHEft SIDE FOR IMPORTANT INFORMATION BOO~~~.~~ V~ !
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