HomeMy WebLinkAbout1436 . . ~ . _ _ .y' - .{,i . . . . x . ' _ r , - . . . ~ , . .
INSTALLMENT PROMISSORY NOTE
.
TURTLE REEF ASSOCIATES, INC. * ~~u ~,m R.o.~wd ~ 19,s2~.~
NK NAMt ~a C~t none
Jensen 8each, Florida 33457 ~'~'~0"'~"'~''"~ _
tct o«~,~+aro au~v~ = o e
OFFICE A E ~o~ o~n« c~~.. t~~.~:.~ s no~
none
NOTE NO. DATEG: ~une 17 ,,g 78 , ~F i none
o~E: ~uty i .t9 ~a~ ~ o~ i9,926.00
~N? s
PIACE: . FLORIDA (1) Gndk InvNtl~tlon =
u? octi.. _
fw wlw nuiv~d. tM undertip»d IAuNn~ftK ulNd "11A~k~r") ~ointly and ~we~slly (if ~K) _
mon th~~ on~ womi~ to ps~? to cM ada oi tM B~nk. ~t ia otfia liu~d abovs. li_al -
of P~ymtntt (from (N) ~t riyAt) ot ~31.,600.8C ~ ~~+wr•ba ZO
IMI FINANCE CHAqOE
wu~ nwnMH tmWinwnn o~ i 263.34 12,674.80
. IH. I. J. K. L) _
~ aw o~ AuQ. 1 ,~s.~$..~,a ~.vw~+e ~~r.~i~,,.+,a d~,. a+ (N) Toul M raymena (0 { M) = 31.600.80
tM " D~r of ~cA yqnth thaNltsrLto~d~ with a FINAI BALLOON PAYMENT OF: ANNUAL NERCENTAOE IIAYE 10.~ ~
r~vric
s • oue , i~~
Th~ 8~nk 1h~11 inKw~ a dNl~ dwrp~ apNM1 tM Mdur on ~ny p~Yrtwnt which hN b~oorn~ dw ~nd hnyirN in d~fwlt fp? a p~rlod in ucaK of 10
d~yf in an ~mount puai tc $~(r of th~ art~ount of tM principsl p~?t oi tht p~ym~nt in d~iwlt. In t!M wrnt that tIM NOt~ h nOt p~ In ii111 ~t nyturity, al) pa~r-
rn~~ts. wh~uu? pine~pal. ~nN?at a othKwir. ~N bar ihurbt n th~ n~e~tinwm 1~1 r~a sllow~d undK d+~ Isrw ol ~ sba ot Fio.ld~. All p~ynN++a mad~
hKw~ tlall b~ a~diad tirtt to inarat and th~n to prineipsl. hovwwr, in tM wrnt of d~fault, th~ ~ankna~ in Itf ~M dbention, ~ppiy ~nY p~yrt~ent to
~n~~rat. pincip~l and/or lawful chuqMt tMn atawd. it B tl+~ IetMtion of the p~rtiu h~nto tlut ih~ ProviNora f~?NM 11+d1 not prorld~ d4~etly or Indinetiy
tc+~ th~ p~ynrnt of a 9rMn? rat~ o~ int~?ut a th~ nt~ntion of any otMr cha?q~ t1w~ b ~Ibwsd b~? INw. If. to? sn~ rwon; Int~ntt i~? ~~?qM tN tueh Ipd na w
s ch~~ prohibit~d by Isw shall ~t seY tim~ b~ psid. ~ny wd~ ~xeas ~II Nch~r con~tltub ~nd b0 tr~~hd M~ paynNnt oM tM prlneb~l W b! t~fund~d direedy
to th~ M~ke.
ThM UA~kK may pr~pey th~ ~ntin unpsid bslina o+ tl+~ Iwn ~t MY tln~. il tkr Iwn k p~Wid In fuil. aec~l~nt~d or rtflrwnwd. th~ (~bk~r ~hall r~w •
retund of tM un~arnsd pwtion ot the in~e?est and inwranc~ prNniums conKwted by tM Rule oi 78'~ method, ~xoept that tM 9ank ~I{ b~ antttl~d to rsuin
a minimum interat durpt oi ~.00. .
CREOIt LIFE ANO CREDIT IIFE 8 ~iSABILITY (NSURANCE AqE VOLUNTAHY ANO NOT pE~UIREb FWi CpEblt. Such Irau~u~a cowra~ I:
awii~bl~ st tl» eost d~slpnsted b~low tor tM t~rm ol tM credit: lal ! fw Crrdlt Llt~ Inwra~a Ibl !
for C~~dit LiE~ 8•Dis~bility Insuranct: . -
Ch~ck_ ? G~diYLii~ I~uur~ne~ is dtsired pn tIN lif~ pt
APP~. ~ ~Irtltd~tr
Box - ? C~edit Liie a bis~bility Inwrsnee is desired on
r~ BbtMsn
L"J Gedit Lile and/or Disability Inwrana if not dssired. J
osce: June 17, 1978 s;~ti11reC>'C~-~~~
oe .
Si~natur~ . _ .
As s~curity for tM paym~nt oi the Noie ths M~Icu h~reby grs~ts to tla Bank ~ pc ~t~i' i rist in t ~ owu~ip pr t,,: i n urtl e Reef
Cnnd 1 t, RwrnrAr+rf nn [1 _ R_ Rnnlc ~R7~~~e?~t 2___ Uni t Weeks 45 , 46.47 snd 48 1 n
r_~~~, e_=T~r~, yo. A-1, as dessrihed in sai~ ~rtga~. ~
~ntludirg sll intrNSts. wbtututioru, reptatemintf. sdditiotK end acassions chereto and in the prooebt theraof (Mninsiqr qlbd "Collabral"1. Thq t~writy
II mce.a[ fhNl N~o s~eur~ sny o~ha ind~bndnq~ a Ii~bility of th~ M~k~r to the Baok ~et w indir~, ab~alua ol~continp~nt, dw or to Mcwn~ dw, now ~x-
i ~stinp or'Iw~atta arising, includirg ~II futu« sdvanc~s w loans by the Ba+k co the,~ rr ,1 ~a~ ~
i Tht 8ank is also 9iven a lien a~d ~ s~writy i~ta~st in ~II prop~trty and secu~ities of tM M~r. ~ndoner, wnty, pusranto. a sccoewnodstion p~?ty of d+is
Not~ (ir.~insfta nfernd to as th~ "Oblipori'1, now in w at any tirn~ herqt[tr eomirg into the oontrd, cuttody or po~sswn of tht 8ank, wMch~r ta eh~ ez-
~ D~~ss~d purpo~ oi b~iiy w~d by th~ Bn+k a ColbnrN, w fw srry other PurPoW. and upon anY balanca or balanoK to th~ a~dit of ~ny aceounq, indudinp
' T.ust and pency aeca~ncs rn~intsimd withth~ 8a~k by aMr of the Obli~on, and tAe Obligon spne to dd'w~. to tt» Bsnk ~ddition~l Coll~mal or m~k~ wch
~ pavm~ntt in ndvetioe of th~ p.incipsl smount of th~ loan as :hsll b~ sa~ist~ctory co the 8snk, in the awnt the ator~mention~d Coltst~rd ~Asll d~dirn in vslue
or becorrr uraatisfaccayro tM Bank.
ARlditian to, r~ductions or exehanpss of, or wbaitutions for ~he Collsteral, psym~nu on sccount ot tha losn or inaesrts oi th~ sun~, a otA~.lo~ns mad~
partislly or wholly upoe tIN Collatersl, mry (rdn tim~ to tirt~ b~ nwds without sfiectirg th~ provisions of thi~ Not~. TM BM~k sh~ll exaci~ r~onibl~ csn in
~he custody and pr~vation ot che Cotl~nrsl ~o th~ ~xt~nt requind by appliuble nstua, and shNl b~ dMrtNd to haw ~xaCiad rqtonabq un i/ 1e takh wM--
xtion fa thst purpop a~-IWkK dw11 r~son~bly nque~t in writinp, but no omission to do ~ny ~ct not riqu~sad by M~ka ~hMl be d«m~d a taNun eo au.c~se
~essonabl~ an, and no omission to cor~ply with any rpw~t ot IWkK shall oi itseli be d~em~d a fsiluro to exaci~ r~~soMbN ar~. B~nk sh~tl not be bound to
take sny ttps MO~aiary to prliKvt arry riphp in tht CollatKN apsinlt prao/ partie! u?d Mak~? ~MII tak~ all neptsWy stp~ (or wtb purpoMS. Tht Bank or its
nominM nud not oolbct int~rqt oo, w a princip~l ot, arry CollatKal or yive aoy notioe with r~ct to it.
TM Bank m~y continw to hold any Co11atKN drpodt~d h~nundu NtN tM paym~nt of thb Noq, if at ths tirr~ of tl» payrn~nt and d'aehary~ Mr~of aMr ot
th~ psrtia liaW~ ~or tM psym~nt Mrwf ~hall b~ tMn dinctly or tontin~ntly IisDl~ to tM Bank ~t M~k~r, erniorttr, wr~ty, yua.antor or ~comnodstion ps•ty
~ ot sny otha not~, dr~tt, bill oi ~xcF~sn~, q otMr instrum~nt, pr otMrwi~, snd th~ 8ank nry thKtaft~r ~x~rci~s all ri¢~p with rNpect to aid Collsurd
~ grsnted M?~in ~wn thouph thb Not~ dWl hav~ bNn wn~~d to t!M IN~ka.
If tM Bank d~tnq itwli im~eun a upon tM h~nlno of ~ny of the followinp wenn, ad~ of which sMyll oorutitut~ ~ d~(wlt, al4 li~bilitfu of ~sch Mak~r to
~ che 8ank, includino th~ Mtin unpsW principN of thb Not~ and accrwd inqrat, la~ arW unNrrnd inqntt snd any IntKqt in ~xq~t ot th~ maximum ~Ilow~d
~ bv law ~nd any nbst~s rpuind by law, ~Inll inrmdl~Wy or tMr~sit~r, ~t th~ optbn oi tM Bsnk, ~xppt th~t tla oawr~np of (e) or (d) d~all eaur automst-
~ ic xeekr~tion: without notip w d~nNnd, b~ooen~ du~ ~nd p~yapl~: qw fai{un ot ~ny Oblipor to p~rfwm any obH~tion, Ibbillty o? da&n to th~ Bank, to p~y
~ interpt h~reon wiMin 10d~y~ ~ftM it N dut, or ii tMn it no dw dat~, afq. it is billed a od~wir nquwt~d o~ dem.nd~d, w to pay any othM liability what-
~ soev~? to tM-Bank NAwn dw; (bl H+~ dWM oi any individu~l Oblgw, tMdiwolution o~ ~ny p~rcr»nhip Oblipa a Me diaofution, m~ry~ or oonwlid~tion with-
~ out iM Brnk's priw writtan co~nt of ~ny ewporab Oblqo?: lcl tlN filtno ot ~ p~titfon in b~nknptey or t!w adjudieatlon ot intolwncy o? b~nkruptey ur~
~ any rwry~niratan, arrseg~m~nt, rrdjuttment o1 d~bt, d'a:olution, liquid~tion a sunilu proa~dlrq under any F~rd w~bb tutut~, by w ap~inst any
~ Obiga: b) ~n applic~tion iw tfw ~ppointm~nt M~ nwMr fa, or th~ nakinq of i p~r~~l a~iprnn~nt fw th~ bNwtit ot crMl~a~ b~r. anY Obllpa: l~) tM a+ny
of ludynwnt ap~inft ~ryr Oblipo?: (i) tM Mwinp of any ~ttaebm~nt w y~rniihmMt. a th~ (Ninp of ~ny li~n, ap~irut sny property of anY ObliOpr: l'1 tM takirq of ~
~ possa~ioe of aoy substantiN p~rt of tM propKty of any ObliOa at tM irotane~ of a~sy 9ov~rnm~nt~l wMority: lh) tM d~t~rmin~tion by tM Yadc Mat ~ n+~eai• ~
~ a1 adv~?q ~hstq~ ha ox~rnd i~ tl~ finaneiN eotwJltion pf any Oblioot frqn th~ eonditbm !rt forth in tM moit r~nt ilr~tei~l tUqteNnt M ~ueh Oblipc
here~ota~ furnidNd to tM 8ank, or from tfN oondltion of wd~ Obllpor a~ Mr~totore mat r~ntly di~doNd to the 8u~k, a tha ~ wrranty, rpr~nat~on,
~ certifiut~ a ttat~nNnt of ~ny Obllow (whWNr oonWrnd M thk Not~ a not) patalnind to a in oa+n~etbn with ~his Nob a th~ lor~ pid~nqd by Mb Nob
~ containt ~n untru~ stat~rt»nt ot nrt~rW t~tt p onwq to stat~ nyWlal het rnawrY in wdn to nrk~ th~ stat~nts n~ not midMdin/; o?, (i) tM ~Niyn-
p me~t bY an~? M~Iw of any puity in ~ny of tM CoI1~tN~1 without tM D?ior writt~n conMnt of tM B~nk.
~ TM Bank thall haw, but ~hall not b~ limind to, flN fdbwirq riohn, ~ad~ of which m~y b~ ~xKei~d at any tim~ wh~tMr a not thb Noet 4 dw: (i) ~o
pl~clp~ o? trNMfw thi~ Noq Md th~ CoNsbral and t!N SNNc !lMII d~N~upon b~ MNwtl of MI dutlN ~nd nlpory1bf11tiN lNt~undu and rNif»d hoen ~nY and NI
II~Wllty wlth ?Nprct to any Co1btMN io pbd~d a tra~afKnd. ~nd any pl~el~w a tr~rufKN 1w11(or all purpo~ tt~nd (n th! plao~ of t!N ~a++k hM~uad~? and
~ ~ru
hav~ all tM ?I~hb of th~ !lank hpwneMr: lil) to tran~fw th~ whoM w ~ny prt oi th~ Cotlabnl Into th~ narrn of it~lf a itt eomlr~:111i1 to v~ot~ tM Co11~tKS1:
liv) to notHr tM Oblioort ~~nt? Collaaal w nrk~ p~ym~nZ to tM BMIc ot any ~mouna dw a to b~eon+~ dw th~hon: (vf to d~nrnd. wa ia. oolNey o~
r rtwk~ a~y Con~IQ DNI~IC~ MttIMllNft (t ~~Ni~bl~ whA nfNrp@to dN ~~SSOCI ~L@S~ 1~1Zp°"'a
~/or`°~`~s °a'ss
1 gn°
s:d' caa~..a.
as used erein means TurLl Ree !
. NOTICE: 8EE OTHER SIOE FOR IMPORTANT INFORMATION n~~~~ ~ t ry~ y
FB5 7S2 p~r. 7/7~ ~ ~ 1~-{
~.~iC, 3~J
~a-..~~.. ~r,wx~_....,.:~ u, - - - - - - - - .z~~~