HomeMy WebLinkAbout2653 -^s--
r .5.:.. . - .
. - INSTALMENT PRO~IAi&&ORY NOTE
TURTLE REEF ASSOCIATES, -INC. * ~ ~ - iA? Amount Raeaiwd - i -
. la lrsttnwen for r,~r - .none
i~lt~/pleebNity tae.
Jensen Beach; ,~torida'-33457 ° - - ne - _
- ICI .ao~w+~~rtr 8wnv - _
- ~ - - ~ l01 other cn„?~ {it«ra:a, 3~~'lOt1e .
NoT~ Na - a?TEO: ~ ~ ~lu9uat`5 ' . ia7~
: - none
" Ictl Afitotsttt FinM~oed -
~~.~t E - ~ off... u. s. ~ o. e, Ft _
rr r • x
Dale: -
-
_ ~ , F40RiQA . .
i
t.1?GE: ~ - (1!. Crllydh Inw~tij~tion 'f`~`"1i~1«~"~
- 1~1 " Other ~
fact wNuu retnired, tM uMasigrad ihereirafe~r a1Nd "Mskp-") jointly artd st~ranlly (it IK1 _
rewr~ Mat and promist? to My to tM~~o.~~dxr~~of tM ~rlk. at ib offiq litpd xbo+~.:l+e'faM
of a i/rein {Nf st riglttl-of-..~. -Ooliertpaysbla Nt ~ 1d.1 - , _ _
monatly irl~t~ilnrrtts of:: lM! l=1111i11iiCE ft1ARGl ' 126 ~ •
~N+M - ; tM cwt tH,1.1. K. l1 ~ •
unggnteett~dw on - ~t 6 ~ ,/9,~,. erd sttbaagttant icaatlnana dos os INi Totef of f'aylnertb la ~ tttl' i
rite ~ 'day at ~dt f Pw_MEKr ~ANNWIL PERCENTAGE AATE ~lG.: -
: t'*t-fir F1rNAl
f3A~ ~~OF-_
The Bank stall import s dNinqueney duryx ~ttt 1M Maker on any paynanf vrftich hat baoane dui and nitairte in default for i ptirie)d in [?iestaie of 10
days iA an amouftt equN to ~ of-tlr amount of tM prindpM part of tM psynant, in dafsuh. in tM swan that tha• Noq.k trot Pekl in fuN st metW'itll, ~ P+th `
matt;, MAtr+tMr ~ntiRM. inttarrmt Or oM~wiq, tM~tl i~ir kigrustst tht. mniintual aY!i rNu sllowud uhdu? tht.lwra of tltt Sgq of Flo?idk: /Ul ptaytaaua malt.
flail ba aeditpi first tq. Murs~et- snd thiu m priadpal, hcwtMwt. in tM tlvr!rtt c~ defauk, thi Bsetk nt!Y. b ib soh ttisaation,,epply any pav+rartt td
intK«t, {Kbtcipii. a9d/or .hwlu~.thv~R tht+n aoattad: tt ii ti» ingntion ~ tM partiK Mreto that tM provuions lnruin MtN1 got prprkN t~et~ Or i~di~th.
for the p~ymant Of is heater tees of interest or tM retention of arty other than is albwad by I~w. It, for airy reesp?, interest in atcate ;of eutdt legal rag or
• charge pohtUitad by iRw shsN at any time ba pak4 any such excess shall NMa eonstituas and bt trptad m • prymistt on tM principal a-ba raturtd~d dirattly' .
to the MNce?. - . , . _ . ~ -
The ttlaker may prepay the entire urKtaid bakwtq of tM ban at arty'tittte: if the lean ie prepaid M terN, seaMntad or refirarioed, the Maker shsN raaivs a
r:tend of rite unaaned portion oft artdarta pranwms coniputt?d by- tfte RuM of 7B's nathod, except that tM
r,r~~~~ r .
Y'
CREOIT UFE .AND f.IiEQIT if ISi?EiLtTY JNSUR/?NCE ARE VOLUNTARY AND NOT REOtJIHEO FOFi CREDIT. 8uoh iraurana oowrlw is
switeble at tM s:ostdes+grtstad bNow for Nis tarot of the credit: la1= for Credit life Irnunnot Ib1 t
for Credit I-ih t~ Disability lrauranoe: _ .
Chester ~ tkedt tits iratugta k desired on tM lih of
MW B~sttdaa
Box ~ Gedit lih at pisability Insursnte k desired on .
- ftirthtlatti ,
L.] Credit fife snd/or f)itability frburartee is not desird. - ~ - - -
Date: AugUtt 5 , 1979 - signature
- Sipnstus - ,
~altowint>rovra:In Turtle Reef Cond.'-
As sawritY for tM paynant at 1M Note tM Meha Mrab1? g?anb m tM Bk m to e-
ineludaq sl ieter~es, substitutions. b. add'niota and aooeesiorts theeeto snd in tM prooteds thereof Ihereirnttsr ealNd''CollagrN^f. This sawrity
interest shah also eecwe sny other ir~debt~dneM or liability of the Maker to ther 8snk dtreet or indirect. absolua or tontingsnt, dot or fo Meorm data. now ex-
istirq o? haeattar arising, irtehtdirty aH futon t?dvaneM or bens by the. Bank to tM Makac: -
The Bcrtk k alw fa'a^ s INn and s ,.eu.ity intsxest in sty property and securities of rtes Mpw, atdoresr, aunty. guaantoc or acoontrnottation perry of the
Note ihe?Nrafar. referred to a rite"Oblgore"f, now in a ae,rty limb heater oombg imo rite control. wstodY a possession of tlta Bank. wMtha to. the ex-
pretad t~P~ of beirq used by the Bank es ColMwat, or for any other purpose. and upon. am? belata or. bsianae to tM credit of arty accourtb. irtehrding :
trutt end agnley aoevtdite miintainsd withtM WMc by.any of tM Obligors, and the Obligors agree to detiwr m tM Bank additiortM ColMteral or make strelt
paY~rna b raduetion of the prindpN amount of the ban. a Hall ba sa;Wactory to tM Batfc, in the cant tl+a aforementioned CollaarM slaw dadine k+ wlue -
or beeonie unatisfactorY toMf Hank. -
Additions m,. nduttiaa or •xdarpes of, or eubstieutiora fo? the Colbterel, p~ynwtb on ao4ottnt of this ben or irtereales of rile sarrts, or oche. loans made =
partaitli ttr witolhr upon .tM CotiatarN, rosy from time m tine bt made without affaeting die Prarkions of thk Note: TM Bank shall exetaq rMSOrtaable can .in -
the txrstodY and ptesKwtion of tM Collateral m M_ a axtMt required by ~ppliesDle stawtit. and tttaN bt+ deanted to hwa exercised natooebN era it it-takes tud+ -
sction for tits! purport. es Msk~I sfaN reatorlabhl rMittest in writwg, but no omision to do pry set not.requagd by, kAakar slaty be deairad s failure to t?xertiM
raasonebla. sal. and no omission m comply with any ragwst of Maker shall of itsMf 6a Oesrrted"a fn7ure m exacna reponeble sere. sank shall not bs bound t0
tska amt. steps nea'swY to praesrve arty ri0lta in the Coihteal againes prior parties snd Maker sitaU sake all raoessery saps for such purPae3- The 8artk a its
nominee need not collect interest on, a a principal of, arty CdMtenl oa give sny notio«wiM retpaet to it. -
The Bank may continue m hold anY CouaarM deposited hasurtds afar tM paymstt of thk Nog, if at the time of the paymtrtt and dacharge hereof any of
tM parties !labia for tla peynant hereof steep ba then dtnctty Or eorttirpattly liable m rite Ba»k as Maker. endorser. surety, guarsntor Or aooonrrtodacion party
of arpt other note, drslt, bill d axdartgs, or otter imtnttrtettt, or otitawise, and tM Bank may thenefter axaebe MI ri¢~b with rwpcet to said-Colfataraf
grafted hNNn even titoetgit tltk Nog tftsM Itsvt hart eurnrdsed m tM Maker- . - -
If the Bank deans ibdf insecure or tipwt the Ileppenirq of artlr of the foilowirg events, eedt of which shell oonstituq a default, ail liabilities d each Maker m -
tM Bank. including tM entire unpaid principN M thk Noet and soerwd lrtgrest, Mss any urasrnsd interest and any interest in execs Of tM msxinetrm aNowad
by Mw and any rebates required by law. siteB Y a. at tM option of tM Bank. except-that tits oonrrnrtce of k1 a ldl shall oauss automat-'
ie secalaation:without notice ordenNrtd, beoortndue and payable: let tM failure of eml Obligor M perform am? obligation, lisb~ltY or tasirt m the Bark, m-pN :
interest hereat within,l0deye afar it _k due, or N there ie no dw dap, Nat it k bllMd or odarwke requesad err dsttartded, or ttl pay any other liability whot-
toever -m tM Bank when dtN: tbj rite dsad~ of arty individuN Oblpor, tM dissolution of sty pertnaship Obligor or eM dissolution, rrarger or oortaolidetion with-
out the Bank°s tx~ writaet sonsant of anY eaPonq ObNgo?: k1 tM til'ntg of a pltition in bankruptcy or tM adjudintion of imolvaner or bankrttpsti? under
sny reorganisation, arrstgerrartt, readjustment d debt. dpspiution, liquidation or s<irnilar IxocaednY utwlet anY FedsM or tart eLtYq. try or aleitat any
Oblpor; Id! an sppfiation fo? the sppointmertt of a naiver tor. or dta rrakirtp tlf s geraral awigrretptt for tlta benefit of creditors bY. srp? Oblipr; b) the sett!!
of r+dgn+att ageirtst any Obligor: lfl tM isettirq of any attadrrartt a dsretfslMrtant, or eM filirp of any lint, aMirtst sell prq~tY of any Oblipr: U1 the taklty of
possession of any wbststtai pat d the property of any ObNgor at die inetartce of sp? govarttsrrtal authority: ?h1 tM dnrrmieation by tAo BaNc tMt s ertaeeti-
sl adverse darpe has coeurred q tlta firtarKisl oortdtion of sty Obligor from tM tonditione sty forth in the mat repro firtarteiel staterttsnt d Audi Oblipi
heretofore furnished m the Bank, or from the oortdition of sud'+ Obligor as heretofore most raoenih diedoead to rite Bartle, or that apt. wrrsKl?, raprgesteation,
certifipq or wgment of any Obligor !whether oonteirad in thk Note a not} p~rtNttirq to or h ortraction wilt this Noso a des bat widened by chit Nog ~
contains an umrua stsarnntt of rrateriN feet a oatiq to stag. rrrtaiial tact rtaeasray in order m make fir syternertb nude not n+ielsadiA: er, li! rtes a1dMr
rant by any Maker of sty equity in any of t71a Collgeral without ttta pries written eoraeM of the 8enk. -
The Bank shah hart, but theN not ba lintiad to, dta foiiowirtg ritlltb, each of while may ba axaoieed at any time wNttta or not d?k Note w dw: {ll to .
pledge a traryfer the Nog srtd the CoMagrel attd tM Bade sftaB tMreupon be rafiawd of a1i duties aid neponsi4ilities ftereurldar and rNiaYed hom any and aN .
liability with retpeae Le any CWMgrN e0 OMdMd or aaroHmO, and snl/ fd~o Ot tnnshree shell for aB pYrpoMe etaiw! in tits plea of ties-Rack MnWtder and
hare aN tM riMtts of the Bank Itssewtdar: liil m trartefar tM tiNtola or any: pert of tM Collagrel into the-etsnta of ibMf or ifs notttMtea: (iNt to vois tht Co1Ngn1:
livl m notify tM Obligors d ent? ColMtersil m rosin peymertt to tits Bank of sr:;r smoutm-due or_ >p beoara due thtraon; (v! to demand. eia ter, cdlact. or
~K~ as'~use~ I~ere~n
m~ea~s ~ur~e~~ ss~oc~a~e~s;'~`n an ~r`~ asps
gi~n°
s
a` ~Ol~
' - NOTICE: BEE f7THER stOE FOR IMPORTANT INFORMATION ~wRt3~4 I~~~~
FRS 732 ftw. 7J77 I