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Home My WebLink About2861 , ~ " t - ` INSTAILMENT PROMISSORY NOTE ~ TURTL~ R~EF ASSOCIATES, INC. * ~n~ t~.a~wa = ~T.500.OQ s~N M IS) rnnwum for G~dit f1011@ J~~sen 6eath, Florlda 33457 ~`~•~°~ibi'~'"'~ _ ~ ~c~ o~~+.~,un? sw~w. : none o ~c ~o~ o~n« a+.~~ : none none ~,oT~ ~w. DATEd: Dtc~mber 12 .19 77. ~F s none ~uE: December 26 ,~a 8~, (~3i Anwunt FiMnc~d ~ 17~504.00 t,?, s, c, o, e. F~ s ~ fNl IntKp~ - i s ' PIACE: , fLORIpA (11 G~dit ImrKtp~tion i Fa wiw ~~aiwd. tM un~Mni~d (NuNndtK qlNd "Mslcf~") iointly and swerNly (if ,KI) a~ =-T mo.~ th~~ om? Wbn1a~ Io p~y to tM°~ o! tl~ 8~nic. at ia oNie~ laqd ~boM. tM ToW ~53 60 oa~. a,?•a• 120 ~ tu ~ s ol Aym~na tt~o~h INI at ri~htl d • • pwi monMhl irdtNteMnn o1: ~;n~ IM! FINANCE CHAROE I0 ~253. 60 (H, t. J. K. Ll i 0... ~m~Nlm~eu dw oe . 10 . wr! wf~qurnt iosWlm~nt~ du~ a~ lN) toW M Paym~na l(i + M) = s • ~?w„~,~t? ot ~~onth ~huNli~.teor~a wiM i Fi1~A~ ~,A~~OON PAV_~AENT oF: ANNUAL PEACENTAOE RATE ~Q.~x t ==r.. _....OU~ ~ TAS B~nk ~hMl inyloN i tNiinqwr~ey tharq~ a~intt tM IM~k~t on ~M? WYma~t which 1us b~ootnt du! M~d ctmai+~s in ddwk fa a pKiod in ~xoM~ oi 1O dsys ih sn ~n~oyr~t pual tb 5!6 of tM anwuet of tM pNnelpsl pMt of th~ p~ym~nt in d~/wlt. In th~ tvrnt tMt th~ Not~ b not p~id in full st nyturity, NI pay ment~, wM~h~ prin~ipsl, intt?at or otMrwir. sh~ll b~u inl~n~t at tM m~ximum Ipd r~b albw~d undK tM bwt of tM Sqtt oi Fbrid~. A!1 p~ym~nq m~ Mrtunda ~hNl b~ cr~dit~d flrlt to intNMt ~nd thM to piNCipN, how~v~r, in tM ~wnt ot d~tault, th~ 8ink m~y, in its folt dixr~tion, a~ly any psy~nNtt to ~nure~t. principN N+dla I~wlul ch~rqN MM aopwd. It i~ tM inhntio~ of ih~ p~r1NS hento that tM provi~ions hK~in eh~ll not P~~~ dinetly o? indM~etly lor lM p~yRl~llt O~ ! Q?Mtlr na of intK~t a? tM nt~ntion of a~qr othK elwg~ Uw~ is stlowrd by Isw. 1~, Ip~ a11y t~{Ofl, inta~st in ~xqp of weh I~yM rst~ or a chary~ proh~Nd bt? ~sw d+N~ ~t .ny ~im~ b~ aW. anv wch ~xo~ ~Aal~ richN con~~iwa and M itpqd ~t a WYmMt On tM principN w tN rtbnd~d dir~Ctly to ~M M~kN. - T1N Mak~t miy prqfy tM Mtih u~id babnt~ of th! loin ~i any tar~. N th~ Iptn if p~piid in tull. ~ocel~rat~d w nlinsnc~d. tM NbkM thNl no~iv~ s rel4hd ot tM uMatnsd ptNHon Of tM interht aod inwrsnp pr~niurm cornqited by tM Rut~ of 78's mtihod, expQt thst tIN 8ank shNl b~ MtitNd tO r~t~in a r»~nimum intpNt d~aro! Of ~ - CREOIT LIFE AND CHEb11 IIFE 8 DISABIIItY INSURANCE ARE VOLUNTARY AND NOT RE~UIREO FOR CREDIT. Suth ~nwranp towray~ is arailabtt at tM eo~t d~sipnstad b~low lor tM tKm o1 tM a~dit: (~1: tw Cndit Liie Inw~anw Ib) t tor C.~~dit lif~ ~ Diubility Inwt~nCl: - f Check~ Ct~dit Lit~ Inwrince is d~sirtd on tM lift of ~ ADP~. Birthdst~ BoR ? Credit Lite 8 biwbility Inwraoce N desir~d on ~ r-~ " Bi~ thdat~ U G~dit l~fe snd/a O~ability Inw~anq is not d~sir~d. ` < Date: ~~r 12~ 197j Spnature ~l . ryB Ot~ s~~~.~ ' As tetu~ity f th~ payment of th~ Note tM N4k~c AK~by snt~ to nk teC ~ty i es 'n the f 1 ~ An 0. di vi ded ~ ~ inLeresL 1n ~Turtle Reef Cond. I recor~d in~.~. ~oo~C 2~~, ~a e~~~°...°~`n~t-iteek'1~Z~n CBnd z8 E~ Un t i~e~ 9 n ond. a, t. os. respec ve y as escr n s~ ear ga~e ~ ~ncludinp all ina~. subttitutiom, rsplatMrnts. sdditions and sccasiont thtreto and in tM prooeids th~~~oi Ihtninatt~r caI1W "Co11~t~rd"1- Tha Wturiq ~nterett sl?N! alt0 pcun ~ny othsr ind~bt~dnqt w liability of th! MskK to tM 8ank di~~u a indi~~ct, atuolutt or Contirptnt, dw a ~o WCOm~ dw, rww !x• - ~s1~i+g a f~Nlter Misiny, includinp all futur~ advMeN or Iosns by the 8ank to tM Nbker. ' ~ TM Ban~is sbo yiwn s li~n and a s~curity int~rqt in sll prop~rty and sscuriiies o/ th~ ~AMce~. endo~~r, wn~Y, ywranta or sccwnmafscion p~rty of thK No« (he~Nn~her rNand to a[ht "Oblipon"1, nOw in Or at any limt ffpptar eominp imo Me conerol, euieody or poss~aion of ~h~ Banlc, wMtMr ior M~ ~x- ~ press~d purpop of b~in~ w~d by tM Bank a Co11~tKN. a for sny oth~r purpos~, snd upon any balanea o. balanc~ to eM a~di~ of ~ny ~ocouna. ineludirg ' ~.ust and a~ney aoeouna m~innin~d withtlw Bank by sny of tM Obl' qa~. and cM Ob~ipon spr~e io dNiw. [o ifr Bank sddi~ionN Cotl~arsl a m~ke wd~ wvmenn in nduction of the principil amount of th~ losn as ~h~ll b~ satisiaetory to the 8snk, in tht w~nt the afor~rtNn[iOMd Coll~t~r~l thall d~Clin~ in valu! or becpnr uiustiftattory to tM BMk. ' , • i Additions to, r~duetio~ or exchanq~s of, or wbstitutiora tor tMe Colbtersl, piyrrn~nt~ on account of Ma Ioan w n:cr~u~s ot th~ artw, a ocAa lo~ mad~ ' Qar~iNly a wholty upon tM Co1lat~rN, mry from ~im~ to dm~ M rnade wichoui sit~c~iog [h~ provi~ions oi thi~ Nou. TM !~nk sha11 ~x~rcis~ nuon~bN car~ in ~ ~ne custody snd pre~vation of tM CollataN to tM ~rt~nt raquind by pplicsWe:tsmu, sed ~hs11 b~ d~n~d to 1+w~ ~xaci~d rp~onaW~ can i1 it qk~s wch act~on tor tMt purpoN ss Nbka ~hall r~qoruW~ nqu~tt ie writinq. but no omis:ion to do any ~ct not nqu~tt~d by N4k~r shMl bt dNn»d ~ failur~ to ~xwcn~ ~ ~easonabl~ un, and no anissio~ to eomply wit1+ any nqw~t of IrNkN ~hs11 of i~sdt b~ d~m~d ~ I~ilun w exNCi~ ~~~wn~bN u.~. 8ank sha11 no~ oe bound co take any ttps ~qt~y to prp~rv~ ~ny rqhq in tM CotlatKal spaintt priw psrtits snd Malcer ~hNl tak~ all n~asswy st~p~ 1w such purposes. TM Bank or ~ts nomir~ mad npt oolbtt int~rpt on, o~ a prie~cipN 01, M~y Collattral ot piw ~ny notiet with r~~p~et to it.. ~ TM 8ank mty eontinut to hold ~ny Collaaral d~poNnd hK~und~r aftM th~ paym~nt ol-this Non, if at the ~ims of tM psymen~ x+d disehary~ Mnof snr ot_ ~ eM pania liabk for tM prym~nt h~nof ~ANI b~ tf»n dinetly a eontinq~ncly IiabN co [M B~nk p Malcer, ~ndorw.. wntv. yuars~ta or aocortrnodseion ps~ty of aoy o~Mr not~, drrft, bilt oI ucd~snp~, a otMr iratrunian, a oth~rwiw. ~fld tIN BM11( flMy thKN~IN ~XMCiM all .ipAts wiM n~p~a to aid Colbtasl ~ 9rsnud 1~r~in w~n thouph chu Non dall haw bNn wrrMdard co d~s 1M~Iur. ~ If th~ 8ank d~tms ittNt in~tur~ Or upOn tht 1?pp~nirq ot Nly Of tM Iollowirp ~ve~t~, ~ac1~ of whicA sliall coratitut~ ~ d~twli, NI liabilit~ o~ pch MskK to ~ the Bank, inClYdirq tM Mtir~ unpsid prinCipN Of tAff NOt~ Yld ~OC?Wd inqrpt. I~ ~m? un~an~d inq~~t and ~ny int~r~st in ~xont ot tM. maxinwm albw~d 1 by tsw and any nb~t~s rpuir~d by I~w, ~ANI imrrdiatNy a tMr~att~r, at du opcion of tM B~Mc. ~xapt Hut [h~ oocu.r~no~ oi (c) a(d) ~hall c~uw sutonNt- i rc acal~+atio~; witbout notip w d~rtwnd, b~earN du~ ~nd p~yaW~: (a) th~ t~ilur~ of ~ny Oblipo? W pKfam any obli~tion, Iwbility a daim to tM Bank, to pay ~ I ~ ~nterpt Mnon within 10dsyt ~itK it f~ dw. or it b no dw daa. afta it i~ biit~d a otMrwia rpuaud or d~rtwnd~d, a to pay ~ny othK lirbility what• ~ ~ soere. to tM B~nk wlNn dw: (bl tik dath of my individuN Obliqw. tM di~olution ol any p~rtr~~hip Obipa a tM diftotutio~, m~r~r w oa+wlid~tion with- ~ out tM Bank's pria writtM eonnnt ot ~ny eorpw~t~ ObliOO?; (e) tfN filinp of a p~tition in ba~kruptey or tM djudiption of insotwncy p b~nkruptey und~r any rwrp~niLtion, uanp~rt~~t, rNdjwtnwnt of drbt, diNOlution, tiquid~tion a simil~? proe~tdinq undK any F~al or ~t~u st~tut~, by w a~inst ~ny Otr~ya; fd) an applic~tion la tIN appointm~nt oi ~ naiv~r ta, of tM mrkinq o! ~ ppNrd s~qnm~nt to~ tM tHn~fit of ctMita~ by, ~ny Ob1qw; (N tM ~ntry ~ ~ os ~~t ap~imt an~r Obliya: (1) tM Nwinq M anY ~ttKhnMnt or perni~hnw~t, or th~ filirq of ~ny IMn, awimt ~ny propaty ol any Oblpor: I~) tM tNcino ot posstaion o! ~ny tubstantial pKt of tM prop~rty ot sny Oblioor ~t th~ irntrnp ol ~ny qov~rnmrntal wthafty; (h) tM d~t~.mination by tM 6an1c tMt a nwea~• ~ ~ at advpt~ ahsn~ ha~ otcu~r~d in tIN finM~tbl eondition M any Obliqor from tM condition~ Nt forth in tM rr~at r~pet financial fqt~m~nt ot wicN Ob1i/o~ ~ ~ nere[olon furni~Md [o tM B~nk, a from ~M eondido~ of weA Oblioor a~ Mntota~ mat no~ntly d'ndo~M to ~he Bsnk, a tha~ sn~ wKr~nty, ~p.~nation, ~ cert~f~cat~ er sbt«rMnt oi Nty Oblpor (wMthM oo~tainrd M thit Not~ a nof) pKUinin~ to or in conmctbn wiM Mis Not~ or th~ Ioen widmo~d bY MN NoM cnntaiiu an untrw sac.nrn~ 01 r~urial fae~ a ania co iran meu~lal f~ rNC~.ry in ordu co nrk. ~h~ ~uc~~i rn~d~ not myiNain~: or, (i) t1N M~gn- ~ msnl by My ~It~t Of ~f1y pYity ifl My O~ tM COII~tNN MIItAOYt IfM ptiOt wriltM CO/Nfflt Of tht 8af1k. TfN B~nk ~all Awr. but tAall not b~ linfit~d to, tM fdlowi~p ri~hq, Neh Of wAieh nqy b~ uc~reiMd at aAy tim~ wfNthK w not th4~ NOt~ ir dw: (i) to ~ pl~ o? in~af~? this Not~ ~nd tM Co11~t~rN ~nd tf~ BMik dyll d~e~wpon b~ nli~wd o/ NI dutia and ruponsibilitirs hK~undt~ aid rNi~wO han any and NI i~a~ility with rNp~et to any CollanrN w pbdp~d w trMai~rnd. and ~ny pNd~~ a tnnsf~ tha11/a all pu?po~ ~tsnd in tM plaa o1 th~ ~ntc h~?wndK ~nd haw NI tM ri0hts of tM Bank Iwr~unda: (if) to trand~ tM wlwN a~ny pKt of fh~ CollataN into tM n~nw of iqNf or ia nanin»: (Hi) t6 voa tM Co11atKN; ~ f+v? to notNy tM OWioon of ~ny Co1l~tarN to rrwk~ psym~nt to 1M B~nk of any ~mounq dw a to b~ooen~ dw thenon: Iv! to d«n~nd, ~w fa, oolbct, or ~ rT11k~ Nly tO1IlOf iN ~f MitIMM111 ~t f~bl~ IN1fA M f0 t~N tH~l; Vf) t0 f O? t O~ OONd{ O/ C0111tNM. ~ ""'~NK as use~ e~re~n means ~ur~e Ree~~ssoc~a~es, `~`n~.°Na ~/orCO~ ~s as~s ~ns . + ~ NOTICE: SEE OTHEfi SIOf fOR IMPORTANT INFORMATION ` n~ , 31z z~~s ' Fas ~s: a.,, ~i~r d(NJK PAGE ~r k.__n, _ : . _ - - - W~>,_.:.n_:>_ ~