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Home My WebLink About2856 . INSTALLMENT PROMISSORY NOTE TUR'TI.E iiE~F AS~IATES ~ tTIC. • ~A) Amount R~ceiv~d = 3.7:)!). Q:1 BANK NAME (8) PrNnium to~ Credit Lih/pisability ins. S P.O. gOX 62$~ JEPlSEN BEACH~FfI. 33457 p~~~isrySiamps s ~n~ OFFICE AODRESS 101 OtM. Chsr~s lit•miz.l s nona lEl i NOTE NO. ~ATED: M.l~"rh ~ 1 ,~s18. 1F1 t ~ ouE: March 21 ,1e 88, ~G~ iA e cFO E i s 9'T~•~ (H) Interes~ t • PIACE• , FlOR1~A G~it Investigation i otn~. s aane For valw rece~ved, the undersipned (he~ainaiter called "Maker") jo~ntly and severslly (i( (K) s ~re more than one) p~omise to pay to tM orde~ ot the Bank, at its offiq listed above, th~ Total oi Paymsnts (from (N) at right) ot 5 Oo11a~s payable in _~(.y 1L) _ equalmonthlyinstallmqat~ii 1 2~•2 78 ,thef~rst ~M~ F~NANCE CHARGE 5~~~~ (H. I, J. K. l) S ~nstallment dus on Ap , 19 . and wbsequent installmenu due oo ~ (N) Toal of Payments (G + M) S ~ • cne_~de ~~~f ~e~ h month theresiter, co9ecner wiin a FiNA~ BA~I.ooN PAVMENT OF: ANNUAL PERCENTAGE RATE • % S DUE The Bank shall impose a delinqueney charge against the Maker on a~y payment which has becane due and remains in default tor a period in ezpn ot 10 days i~ an amount equal to 5% of the amount of the principal pa~t of the psyme~t in detault. In the event that the Note is not psid in tull at maturity, all psy- ments, whether. principal, interest or otherwise, shall bear interest at the maximum te9a1 r~te allowed under the laws of the State of Florida. All payments made hereunder shall be credited first to interest and then to pri~tipat, however, in the evMt oi default, the Bank may, in its sole diuretion, apply any payment to ~ncerest, principat and/or lawful charges then aocrued. It is the intentioo of the parties hereto that the provisions hercin shall not provide directly or indirsctly for the paymsnt of a greater rate of i~terest or the retention of any other chargs than is allowed by law. It, tor any reason, interest in exceu of such legsl rate or a charge prohibited by law shall at any time be paid, a~y wch exteu shall either tonstitute and be tr~ated as a payment on the principal or be returxled directly ta the NWker. The Maker may prepay the entire unpaid balance ot the loan at a~y time. If the loan is prepaid in full, actelerated or retinanted, the Maker shall receive a refund of the unear~ed portion oi the interest and inwrance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain a minirtwm interest tharge of CREDIT LIFE AND CREDIT LIFE & OISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO FOR CREDIT. Suth inwrante toverage is available at the cost designated below for the term of the credit: (a) S for Gedit Life Inwrance (b) S for Credit lite ~ Disability Inw?ar+te: Check ? Credit life Inwrance is desired on the lite of Appl. Birthdate Box ? Gedit Life & Disebility Inwrante is desired on Bi~thdate U^ Credit Life and/w Disability Inwrance is not desired. ~aee: Ma1^Ch 11 ~ 1978 Signature Signature ~ As security for the yment of the Note he Maker hereb rants to the Bank a uri inter t i he ollo ing ro .~r Turtl e RaEf rilyd . Z~ r~e~rded in A.F. 8aok ~5u, RAge ~L~~.. l~nit uee~cs ~3 a~~ ~n ~onc~. ~-~5, p. as ' described in said sort~aae. ~ncluding all intre0ses, wbstitutions, replacements, additions and actessions thereto and in the p?oceeds thereof (hereinatter called "Collateral"). This security ~ ~ncerest shall also secure any other indebtedneu or liability of the Maker to the Bank direct or indirect, absolute or contingent, due or [o become due, now ex- { ~sting or hereafter arising, including all future advances or loans by the Bank to the N~aker. . ~ The Bank is also given a lie~ and a security interest in all property and securities of the Maker, endorser, wrety, guarantor or accommodation party oi this ~ Note (hereinatier ~eferred to as the "Obligors"1, now in or at any time hereafter coming into the rnntrd, custody or pozseuion of the Bank, whether for the ex- pressed purpose of being used by the Bank as Collateral, or tor any other purpose, and upon any batance or balances to the credit of any accounts, including ' ~rust and agency accounts mainta~ned withthe Bank by a~y of the Obligors, and the Obligors agree to deliver to the Bank additional Collateral or make wch payments in reduction oi the prir?cipal artwunt of the ~oan as shalf be satisfactory to the Bank, in the event ihe atorementioned Collateral shall decline in value o~ become unsatisfactory to the Ba~k. Additions to, red~ictions or exchanges oi, or subst~tutions tor the Coltateral, payments on account ot this loan or increases ot the same, or other loans made partially o? wholly upon the Collateral, may from time to time be made without aifecting the provisions of this Note. The Bankshall exercise reasonable care in ~he custody and preservation oi the Collateral to the extent required by applicable statute, and shalt be deerned to have exercised reasonable care if it takes such action for that purpose as Maker shall reasonaWy requestin writi~g, but no omission to do any act not requested by Maker shall be deemed a failure to exercise reasonable care, and no omiuion to cortiply with a~y requat of Maker shall of itself be deemed a taifure to exercise reasonab{e wre. Bank shall not be bound to 2ake any steps necessary to preserve any rights in the Cotlateral against prior parties and Maker shall take all necessary steps tor wch purposes. The Bank or its nominee need not collect interest on, pr a principal of, any Collateral or give any notice with ~espett to it. The Bank may continue to hold any Collateral deposited hereunder atte~ the payment of this Note, i( at the time of the payment and discharqe hereof any of the parties lieble for the payment hereof shall be then directly or contingently liable to the Bank as Maker, endorser, wrety, guarantw or accommodation party ot any other note, drait, bill of exchange, or other instrument, or otherwise, and the Bank may the~eatter exercise all rights with respect to said Collateral g~anted herein even though this Note shall have been wrrendered to tAe Maker. If the Bank deems itselt insecure or upon the happening of a~y o( the following events, each of which shall constitute a detault, aIl liabilities of each Maker to ~ tne Bank, inCluding the entire unpaid principal of this Note and atcrued interett, less any unearned interest and any interest in exceu of the maximum allowed by law and any rebates required by law, shall immediately or thereafter, at the option of the Bank, exapt that the occurrence ot (c) a(d) shall cause automat- ~ :c acceleration; without ~otice or demand, become due and payable= (a) the tailure of any Obligor to perform any obligation, Iiability o? Claim to the Ba~k, to pay ~ ~ncerest hereon within lOdays after it is due, or if there is no due date, after it is dlled w otherwise requated or dema~ded, or to pay any othe~ liabitity what- ~ scever to the Bank whe~ due; Ib) the death of a~y individual Obtigw, the dissotution of any partnership Obligor or the dissolution, merger w oonsolidation with- ouc the Bank's prior written consent oi any cwporate Obligor; (cl the filing of a petition in benkruptcy or the adjudiqtion of inwlvency or bankruptcy urxler ~ any reorganization, arrangement, readjustment of debt, diuolution, liquidation a similar proceeding uoder any Federal o? state statute, by or against any Obligor; fd) an applicatio~ fo. the appointment of a receiver for, or the making of a general assignment (or the benefit of creditors by, any Obligor; (e) the entry ~ o? ~udgrnent against a~y Obtigor; the iswing of any attachment or garnishment, w the filing ot any lien, against any property of any Obligor; lg) the Wking of ~ ~ssession of any substantial part oi the property oi any Obligor a[ the ~nstance of any governmantal authority; (h) the determination by the Bank that a materi- ~ s. al adverse charx~e has occurred in the financial conditio~ of any Obligor from the conditio~s set torth in the most rece~t financial statement of wch Obligor heretofore (urnished to the Bank, or from the conditiOn of wch Obligor as heretofore most recently disdosed to the Ba~k, or that any warranty, representation, ~ ceriificate or statement of any Obligor (whether contained in this Note or not) pertaining to or in connection with this Note o~ the loan evidenced by this Note i contains a~ untrue statement of material tact w omits to state material fact neceuary in order to make the statements rt~ade not misieading; or, (i) the assign- ment by any Maker of any equity in any of the Collateral without the priw vKitten consent of thE 8ank. The Bank shall have, but shall not be limiced to, the following rights, eath of whith n?ay be eKercised at any time whether or ~+ot this Note is due: (i) to ! ~ pledge or transfer this Note and the Collateral and the Bank sAall thereupon be relieved oi sU dutNS a~d responsibilities Mreunder aod relieved from any and all 1~ability witl~ respect to any Collateral so pledged or trs~sferred, and any plede,~ee or transferee shall for all purposes stand in ths placa of the Bank he~eundd and ~ ~ have all ihe rights ot the Bank hereunder; (ii) to vansfer the whole or any part oi the Gollateral into the name oi itself or its nominee; (iii) to vote the Collateral; Gv) to ootity the Obli9ors of any Collateral to make payment to the Bank oi any amounu due w to become due thereon; (v) to dernand, we for, collect, w ~ ~ make a~y comprwtw~e or settl~ment it deems desi~able with re(erence to the Collate~al; and (vi) to take posseuior? w control oi a~y proceeds of Collateral. ~ *"BIINK" as useJ he~1n ~ea~s Tur~~e rcezf Associates, Ir.c. and/at its assigns. ~ NOTICE: SEE OTHEfi SIDE FOR IMPORTANT INFORMATION , Fss ~52 c~•~_ . - 3~~~_)K3~:~. 1'~~:t y.'_,Jcl~ , - - - - - ~ _ .w:__~ _ . ~ . . . : . . ~