The URL can be used to link to this page

Home My WebLink About1117 , , INSTALLMENT PROMISSORY NOTE TURTLE REEf- IISS4CIATES. III~. ! (A) Amount R~iwd : 16 .00 ; BANK NAME (B) Premium for Credit . ~~r•~a~~i~cy i~:. s ~x ~81 ~ ~~t ~ IC1 Oocurtnntarv StamPS S OFFICE AOORESS (01 OthN Cf?sryss Iitemiz~l = Nov. 10 78 ~E~ s ~ ~ NOTE NO. DATEO: _ , 19_. (F) S DUE: NOV. ZI , 19 . (G) Amount Finonced .i` (A, 8, C, D, E, F) t IH) IntK~st = PLACE: , FI.ORIOA ~~~t tnwstigation : ~ ' IJl QtMr S For value received, thQ Ufldl~figflBd (hNfiM~tN Call~d ~~Maker"! joincly and sevenlly (ii (K) S ~ more than oM) promis~ to pay to the or ~r of tM 8ank, at in office listed abov~, tha Toal ~ of PaymenK (trom (N) at right) oi 6 Oollsrs payable in ~.Y_ s equal mo~thly insallments of S ~•a , t~?e tint ~Ml FINANCE CHARGE Q (H, I, J, K, L) S~ ~nstalllr~ent due on ~C • 21 , 19 7yand wbsequent i~stallments due on (N) Total of Payments (G * M) S a•,,'w •~r 1 che 21 of each month thereafter, iogsther with a FINAI. BAI.IOON PAYMENT OF: pNNUAL PERCENTAGE RATE 1O_m 'x ~ S DUE ~ N~~~M~~NY~~Mw~~~~M~~ ~ The Bank shall impose a delinqueney charge against the Maker on any payme~t which hss become due and romai~s in defsult for a period in ezuss of ~0 days in an amount equal to 59L of the amount oI the principal psrt of the payme~t in detault. tn the event that the Note is not paid i~ full at maturity, sll p~y- ments, whether pri~cipal, interest or otherwise, shall bear interest at the maxirtwm legsl rate allowed under the laws ot the State of Florida, All psyments msde he~eunder shall be credited first to interest and then to principal, however, in the event ot default, the Ba~k may, in its sole discretion, apply any psyment to. ~nterest, printipal and/or lawtul charges then accrued. It is the intention of the parties hereto that the provisio~s herein Shall not provide directly or indireC~ly for the payment of a greater rate of interest or the retention of any other charge tha~ is allowad by ~aw. It, for any reaso~, inte~est in exceu of wch legal rate or a charge prohibited by law shslt at any time be paid, any wch excess shatl either eo~stitute and be treated as a payment o~ the p?incipal or be refunded directly to the Maker. + The Maker may prepay the entire unpaid balante ot the loan at any time. If the loa~ is prepaid in full, atcelerated or retinanced, the Maker shall receive a refund of the unearned portion of the interest and inwra~ce premiu+ns computed by the Rule of 78's method, except that the Bank shall be e~titled to retain a minimum interest tharge oi CREDIT LIFE AND CREUIT LIFE & OISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRE~ FOR CREDIT. Suth inwra~ce coverage is ava~lable at the cost designated below for the term of the aedit: (a) S for Credit Life Inwrance (b) S for Credit Lite & Disabiiity Insurance: Check ? Credit Life Inwrance is desired on the life ot AppL Birthdate ~ Boz ? Credit Life & Disability Insurante is desired on ~ Bi~thdate ~ ~ Credit Life and/or Disability Inwrance is not desired. ~ Nov. 10, 1978 . ~ Date: Signature . • ~ Signature ~ As security fw the payment ot the Note the Maker hereby grants to the ri following property. • ~ ri~ in D-12 d ~ ~ncluding all increases, wbstitutions, replaceme~ts, additions and accessions thereto and in the proceeds thereo (hereinafter called "Collateral"~ i ~ncerest shall also secure any otAer indebtedneu or liability of the Maker to the Bank direct or indirect, absdute or contingent, due or to betome ue, a~~Tex~ ~ cst~ng or hereafter arising, including all future advances or toans by the Bank to the Maker_ The Bank is also given a lien and a security interest in all property and seturities of the Maker, endorser, surety, guarantor or accommodation party of this ~ Note (hereinafter rete~red to as the "Obligors now in w at any time F~ereafte~ comin9 into the contrd, custody or possession of the Bank, whether tor the ex- ~ p.essed purpose of being used by the Bank as Collateral, w for any other purpose, and upon a~y balance or balances to the credit of any accounts, includirg ~ erust and agency accounts maintained withthe Bank by any oi the Obligors, and the Obligors agree to deliver to the Bank additional Collateral or make wch ~ ~ayments in reductiort of the principal amount of the loan as shall be satisiactory to the Bank, in the eve~t the aforementio~ed Collateral shall decline in value o~ becort~e unsatisiactory to the Bank. Additions to, reductions or exchanges of, or substitutions for the Collateral, payments on account of this loan or increases of the same, or other foa~s made part~ally w wholly upon the Collateral, may from time to time be made without affecting the provisions of this Note. The Bank shall ezercise reasonabie care in *.he cuscody and preservation o( the Collateral to the extent required by applicabfe statute, and shall be deemed to have exercised reasonable care ii it takes wch acc~on for chat purpose as Maker sha11 ?wsonably request in w.iting, but no omission to do any act not requested by Maker shall be deemed a failure to exercise : easonabte care, and no omiuion to comply with any request of Maker shall of it;elt be deemed a tailure to exercise reasonable wre. Bank shall ~ot be bound to cake any steps neceuary to preserve any rights in the Collateral against prior parties and Maker shall take all necessary steps tor such purposes. The Bank or its nom+nee need not collett interest on, or a principal of, any Collateral or give any notite with respeCt to it. The Bank may continue to hold any Collateral deposited hereunder after the payme~t o( this Note, if at t1~e time of the payment and discharge hereoi any of the parties liable for the payment hereof shall be then directly or contingentty liable to the Bank as Maker, endorser, wrety, guarantw or accommodation party . ~ of any other note, draft, bill o( exd~ange, or other instrument, or otherwise, and the Bank may thereaiter exercise all rights with respect to said Collateral granted herein even though this Note shall have bee~ wrrendered to the Maker. If the Bank deems itself insecure or upon the happening of any of the following events, exh of which shall constitute a default, all liabitities of each Maker to the Bank, including the entire unpaid principal oi this Note a~d xc.ued interett, less any u~earned interest and a~y interest in excess of the rtwximuin allowed ~ by law and any rebates required by law, shail imrt~ediately or thereatte., at the option of the Bank, except that the occurrence of (cl or (d) shall cause automat- ~ ~c acceleration; without notice or demand, becomedue and payable: (a) the failure of any Obligor to pertwm any obligation, liability or claim to the Bank, to pay ~ ~ncerest hereon.within lOdays after it is due, or if there is no due date, after it is bitled or otherwise requested or demanded, w to pay a~y other liability what- soever to the Bank when due; (b) the death of any individual Obligor, the dissolution of any partnership Obligix o~ the diuolution, merger or oot~solidation with- ~ out the Bank's prior written consent oi any corporate ~Dbligor; (c) the filing ot a petition in bankruptcy or the adjudication of insolvency or bankruptcy under any reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proteeding under arry Federal or state statute, by or against any ~ Obligor; (d) an application for tlie appointment of a receiver tor, or the making of a general assig~ment for the benefit of creditws by, any Obligor; (e) the entry ~ of ~udgment against a~y Obligor; tf1 the iswing of any attathme~t or garnishment, or the filing of any lien, against any property of any Obligor; (g) the taking of possession of a~y wbstantial part of the property oi any Obligor at the instance oi any governmental authwity; (h) the determination by the Ba~k that a materi- ~ a1 adverse change has occurred in the tinancial conditio~ of any Obligor from the conditions set forth in the most recent tirw~cial statement of wch OWigor ~ neretofore furnisF~ed to the Bank, or from the condition of wch Obligor as heretotore most recently disclosed to the Bank, or that any warranry, representacion, certificate or statement ot any Obliyor (whether contained in this Note or notl pertaining to or in connection with this Note w the loan evidenced by this Note concains an untrue statement of material tac~ w omits to state material (act necessary in order to make the statements made ~ot misleading; w, f~) the assign- ~ men[ by any Make. ot any equity in any of tha Collateral without the prior written consent oi the Bank. The Bank shall have, buc shall ~ot be limited to, the fdlowirg righu, esch of which may be ezercised at any time whether w ~ot this Note is due: (i) to pledge or transfe? this Note and the Cotlatenl and the Bank shall thereupon be relieved of all duties and responsibilities hereurxler and retieved from any and all I iability witl~ respect to a~y Collateral so pledged or traruferred, and any. pleclgee or tra~sferae shal~ tor all purposes stand in the place of the Bar?k he.eunder and have all the rights oi the Bank hereunder; (ii) to transier the whole or any part oi the Collsteral into the name of itself or its nominee; liii) to vote the Collateral; f iv) to notify the Obligws ot a~y Collateral to make payment to the Bank oi sny amountt due or to become due thereo~; (v) to demand, we iw, collect, or - make any comprw~if~ ar s~ttleme~t it deems desirable with reference to the Collateral; and (vi) to wke posseuion or rnntrol oi any proceeds of Collateral. ° *¦g~~ ~ henin seaas Turtle Reef Assoclates, Inc. snd/or its assigas. ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT tNFORMATION (~R~~ Fes ~5z R~~ ~,T~ . a~~~~K • 2 ~.115 ~ _ - - - _ _ . . a _ . _ . _