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~ . ' INSTALLMENT PROMISSORY NOTE
, .
TURTLE REEF ASSOCIATES, INC. ~A1 A~now?t n.a+wd = 86,076_00 ~
w?M~ ts~ fa c~.d~t none
Je?tsen Beach, Florida 33457 u''~~'"~ s
~ ~cl ooou~w+~arr ~w~w
FFI oo ioi oa~« c~«. a~.~ s~ o e -
IEI 110~1@
NOTE NO. OJ1TE0: June 2y, = non~
~ . Ju1v 11 gg ~a ~~~'i"c,
d.w
E
i = 86 076.00
DUE: E
(Hi IntKNt = -
PIACE: . FlOR10A (li Gdlt tewMtlj~tbn
Fa vdw ne~~wd. dN undK~ia~d (Mnimtur cNNd ••MakK.•) lointh? and ~aib (H (K'~ ~-1~!t~~"
nwn eh~n oM) aomi~ eo vw to dw o~ . at ia oftio~ Ii~d abov~. MN Toni
ot P~ynrots (tran (N) ~t~r~htl ot ~13~~• ~ oo~an o~y~ +n 120 ~ IU
w u
d m
o n
t h h? ~ ~
s
u ~ ~ m N+ a o
t = 1, 337.58 . t h~ I i r t
t ~~u FINANCE CNAA08
~H. i. k. w : 5 0, 4 3 3. 6 0
,,,,~,,,N,t ~ o„ uQuc t 11 ,/91$,.. and aibMOwnt Ieatrlb+wMa dw on INI ToW of hynMnn Ib ~ MI t
tM~y of ~~wnth tlw~itirit~tM? wiM ~ FINAL BA~LOON PAYMEI~,T OF: ~~l ~p~~AOE pAT~ • %
t OUE ~ 10. ;
Th~ S.nk ~h.u Nnpo~i ~ dMlnaw+Kti dn?~ ~o~+n~t d~.1A~kM on am? pwn~+t whld+ !w b~oam dw and r~rn~ln~ In d~twlt ta ~ pK~od In ~ow ot 1d
d+vs M u+ anwunt pud to WG ol Nw «~wu~t of d+. a~aa~ a•~t ot eh. vw~++«+t u~ d.twlt. in dM wu+t dw4 ~ Notr w not w~d ~n h~11 n n»~Ner..~l p.~?.
nw+n. w1wt1~ w1t~Np~. ~na~ut or oM~ewlw. W~I! bar Ihtrntt ~t d+~ m~xMnum Ip~l ~~t! allowld und~? tM Iww o~ 1M tt~11~ 01 ~b?Idr. All p~y~+a nad~
herwnda shdi b~ endit~d firtt to intKat r+d tMn to Pti~p~l. how~~. in tM w~nt of d~huh. d~ d~nk~~Vj {n Ib ~otadi~»ti0n. ~pp~y MW PM~t to
int~nst. piecipd Mid/a (iwfu) dw~es ihN~ sopud. It h th~ inbntlon of fIN partNt h~nt0 dNt NN proriNNN hM~IM 111d1 Iqt WOVItM dk~tly ot Indk~ctly
~o. th~ O~Yma~t o/ a qr~tK qM of int~rNt or th~ rM~ntion of MM? otF~M chMq~ th~n N ~Ibwrd b~r bw. ll. ta ~n1? rwoh. IM~tNt M~~aM o1 weh IMd nn o?
a ch~rot P~ohibibd bY law th~ll ~t ~n1? tim~ b~ wid..~w a~ ~hd~ NNw. oonnkua M+d b~ ~t~d a~ ~ pwnwnt tin t!~ prtnab~ a b~ ntu~+drd d+hcdr
to th~ Obku.
7hr 1~'Ncf?+M? WNM1l thr rntlt~ un~id b~l~ne~ tj1 dw loMl H MW ttmr. (t Hw (osN N pri{wk1(n lull. ~br~~d ek ?MfirtN+e~d. th~ (Yfaieu ~11 r~eNw ~
refu~d of th~ unN?n~d ponion of tM int~nst and Maw~na pnmW+ns eomput~d by th~ qUi~ of TA'f n~thod, ~xo~pt that tM Ba~k ~II bt Mtitbd to r~qin
a rtuNmum intK~st d~tr0~ ot ~.0~.
CREOIt L1FE AND CREbIT LIFE A OISABI~ItY INSURANCE ApE vOLUNTAEiI/ ANO NOT pEI~IIIqEb Fdl Cq~blt. eud~ Itaur~np eowa~ b
svs~l~bb it t eat dylp?~t~d bdow for th~ t~.m of tir ehdit: W= for QNdl1 UF~ Iraur~noa (bl S
tor G~dit Li~s Oipbility lequr~:
Ch~ek ? G~dlt 4i~ Inwrana a d~tirW on th~ lit~ of
APP~• ~thd~b
Boz ? C~~dit Uie A Dissbility l~nu?ano~ b dNir~d on
dirtbdan
~ G~dit Lite and/o• Oisabiltty tnwand i~ not dyired. .
Date: a~~?~a, Sipn~tu v
~a e a r . a~mp e1
. .
Slpnaiun
rity (or th~ p~ym~nt of tM Not~ tM M~Icu haM~y ~nq to ~~n ' d. I"
recor~e~in OR. Book 263 Pa e 2002..Un~t Weeks 1 2S3 ~ 4 tn Gnd,~0~8`~~ t No 0- 8 as
descr n sa no age. . , ~ - ~
! mdudieq sll iner~s. subscicuearo, rsplao~nn. sddiYans ~nd soo~stia~s tl+~reto snd in th~ prooe~ds thtrsof (Aatinaft~r plbd "Colbenal"1. Th's s~wri~y
intenst ~MII aho s~eur~ sny oMer ind~M~dnps or li~bility o~ tM M~Ica co ch~ Bank dlnct a indinet, ~bwlun w oootirp~nt, dw a to baam dw, now ~x•
istin9 or h~rMitN ~risirq, indudirg NI tutw~ ~dvantp w lo~ns by th~ B~nk to tM Mrktr.
~ Tht 8ank i~ abo oiwn s ii~n ~nd a awri[y intKat in.all propKri ~nd uauici~s of th~ M~k~r, ~ndor~. sur~ty. puaranto. or sceommodation puty of tba
Not~ IlNnin~ftn ntKnd to ~s tM "Oblipors"1, now in w ~t any tim~ hsrMiqr comirg into 1M eontrd, autody or potMStion of th~ 9~nk, wA~thK fo~ tM ~x-
prhwd Pu~Pos~ of beinp ~i~d by tM 8snk ~s Collaqral. w fa an~? a~r P~~POt~r. and uL~ ~1l b~tana a balsneoa to tM endit of anp ~oeountf. indudlnp
f crust a~d a~ney ~oeaunu m~iotsimd withtht B~nk by sny of tM ~blipors, snd th~ OWqas prM to dMiva to th~ 8ank additionM CotbtKM a mNc~ wM
~ payma?q in nduetion oi tM prinripM amount at t!N lo~n M thdl b~ ~sti~faetory to tt+e Ba~k, in the Mnt tht afa~ntiond Collaqrat ~hNl d~din~ ie valw
I o? b~corrr urosti~t~etory to tM 8~+k. ,
Additio~a to, r~duetiera a exd~anpa of, w wbstitutbro fo? tM Collsce~N, psym~nn on ~ocount oi tliis Io~n or incnsNS oi the w~+~, a oM~r loans mad~
parlislly w wholly t~a~ tM CollaWal. mry f?om tinN to tim~ b! rr~ wlthout sffettirq tIN provbions M thit Nol~. Th~ 9~nk ~hdl ~xertiM nqonab4 tar~ in
the cunody and prp~rvatlon of tM Coll~qql to tlt~ ~xt~nt rpuind by applk~blt ststun. snd tlwll b~ d~ewd to hw~ ~xuea~d rw~on~bl~ e~n it ft tdca wM
xtion fa tlwt purpaw a IN~ka ~hall r~oewbly rpupt in writinp, but no anlssion to do any aet noc nqwsad by IN~Iw ~ha11 W dMrewd ~ f~flun to ~~?eia
~essonsbN can. and no omittion to oomply with aey r~qwtt of 6A~k~r ~hall 01 its~lt b~ dNm~d ~(ailun to ~~urcb~ nqon~bb Care. 8ank ~hall not b~ bound to
take ~ny stp~ ~ary to prauw ~tnt rphq in tM Co1btKM a~imt prior putiu and MtlcN thdl tak~ ~II n~o~t~ry tqp fa ~uth purpoMS. Tlr B~nk or itt ~
nomin~! rMrd not edbet G~LNNt oe, a a p?ineip~l d. M~y Co11aWa1 or piw ~ny oodp~ with rNp~et to it. . ~
TM 8udc nry oontinw to hold ~ny Collst~rM dqwfbd Mr~r afar th~ psym~nt of Mb Nob, if st tlw tinw ot th~ p~ym~nt snd di~eharp~ Mr~oi any ol
tha psrti~t IiM~N fw HN p~yrmnt l~wf ~ItNI M tMn dinCttly Or Continp~ntly Ii~DN to tlN BM~k u M~k~r, ~ndorMr. wntll. ~wantor or ~ownwnotlition WnY i
ot sny oMp noN, dralt, WII of ~~p~, or o1h~r instrurnsnt, a odarwi~, ud M~ B~nk mry dNrwftK ~x~?eiu MI ripha with ?Np~e.K to trid Collat~.al ~
prant~d Mr~in ~wn Wwqh ehb No» lhNl 1~ bNn wrr~nd~r~d to tM IM~iw. , :1
I( th~ B~nk dNrt~ it~lf iewc~n a upon tM h~ppMhq of ~ny uf t!N followln0 ~wnts, tich of w1~ld? ~11 oon~tttub ~ drfault, dl liabilitbt of pd+ M~ka to 1
ehe 8ank. ineludinp tM ~ntin unp~id principd of thi~ Noq and ~oerwd intnat, las a~y unwnd fnM?~t ~nd any Ints?at in of th~ mucinwrn allow~d
~ by I~w and any nbnK nqutr~d by IwM. ~hNl ierrwdi~aly a tMnsfq?. at the option of tM B~nlc. ~xppt ehat tM oocwr~np of (cl or (d) ~li eau~e autamat- ~
ic aaNKStion: wiMort nocia or drnMnd. Moony dw ~nd p~y~bN: (d th~ i~ilu~ ot an~r Obtipr b p~rfam ary obli~tfon, IVbiltt~r or e1~Mn to th~ Bank. to Ds1? ~
~nterpt hK~on withln 10dsy~ aft~r it is du~. or ff dNr~ it no dw dap, tftN it is bi1Nd or odNrwfl~ nq~wt~d or d~trw~d~d. a to pry ~ny odN? liabitity wh~t• ~
~ soevN to tht B~nk wA~~ dw: (b) tht dMth af any indivldud Oblqa, th~ dN~olution M sn1? Pr?trnnhip Oblioor a tM dh~oiutbn. nwY~? or oon~olidrtioe with• ~
out th~ Brnk's prior writbn eparnt of any oorpoqb Oblipr: k) dN flllnp of ~ ptiNon in b~nknlpteY or tM ad~udiation of intolwney or b~nk~uptey und~r ~
~ any norp~N~tian, arirq~nwnt. n~wm~nt d d~M. d'aeolutbn. Ifquid~tion a simibr pracwdi~q und~r any F~d~rM a ta~ mtua. by a p~in~t ~rw
Obtiqor; (d) ~n ~ppliation fa tM ~ppointerNnt of ~ r~oth~? for, a th~ nrkkp of a~.al ~Niynm~nt for tM b~fie of enditon by, any Oblf~or; b) tM ~natr -
, of ~udprn~et p~int a~y Oblqor: lt) tM hwirq d+n~? m~ehrn~nt a~rnW+nNnt. w tM tNirq of +n1? iNn. +p~imt ~rh? P?~Y o~ +~v ObliYo?:1l) tM akirg oi
aouasion o/ ~ny wb<t~ntial Prt of ~ prop~?ty ol any OWipr at tM imtana of any oov~rnnw~tal wthaity: (b) th~ d~armie~tbn by tM 6a~lc that a~eai• ~
~ si adwrt~ eharqt fw oowm~d in tM fin~ncW oor~dttbn af an~r pblipr irpn t1N oonditiotr rtt forth in tM mott r~nt firw~eiM aaanrnt d wd~ OWipr ~
hertto(On fumi~Md to th~ 9ank, a hom tM ea~didoe of wd~ Obltoor a~ h~rrtofon mat ?~anlty didoMd to tM 8~nk, or that ~a~r w~rr~ntt?. i~wN~aebn, +
certifia» a~beMnt of ~eMl abtlpr IMA~MIw oontMtNd In thk Nob o? notlOwWMn~ to or lA oonn~ctbn wld~ thb NoM a d+~ IoMt r+rMl~nad b1? thit NoM [
~ cont~ieK ~n untrw ~btMn~nt o1 n1~tMia1 bet or qnits to t4b nytKbl f~et Moa~sry in ordr+ w m~k~ clr aatM~w~a m~d~ not midNdi~: a. (1) tM aMi~F ~
ment b1l aiM? Mdw o~ ~nY squih? in siM of tIM Colbt~nl witlwut tM P~ior writt~n ow~Mnt of tM Brnk. 1
TM B~nlc ihdl hw~. but ~hNl not 6~ limibd to, th~ fdlowino ~ioAtt. NeA of wbich mN b~ ~x~reiNd at any tinr MA»th~r w not this NoM k dw: (i) to j
Pi~di~ o? trNrl~r thM Nop a~d eM Cdbbral and dN iM~k MNII thMnlp~on b~ rNNwe! of NI dutlM ~nd nlpo~ibllhlM IMrMrnd~r and rNl~wd han MM and a11 ;
liablllty w11b rMp~et to ahq Colbbtal w p~~d~ a van~/amd. and arr~? pld~N a u~ntl~ M~~N Mt d) pu?po~ ttand le dN P~a of th~ SM~Ic huwndK and
1+~ all t!N r{ohb of dN ~nk hNwmMr: U11 to te~?M thr whoM a any part d thi Collabr~l M~to th~ nanr ~ iwtf or ta nondnN: (Ul) to voM tM CollttMal;
1iv) to notify t!N Oblioor~ ot ~nY Colhb?N to mMt~ W1?nMnt to IM 6M~Ic ot a~tl ~nwueEp dw or m brooi~ d~N tlwwn: (d to d~nwd. ~N fo?. Co1Met, or ~ i
muc. anr oo~~Ar as""u
e~` ~ie"re~n
m'~eans ~ur~e`°Re ~ssoc~a~es; `~n~ an~~r°°~~s as~s'~ns°~"d'. c°~a'~. `t ,
~ nR ~
NOTICE: SEE OTHER SID@ fOt*lMPQRTANT tNFORMATION B~~z ,
FbS 782 p~v. 7/~1
~ _.~;`~~~5.,.~.-„~.?~ . _ - - ~ - - ; < - .