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-i' INSTALLMENT PRCMISSt~R~I N~tE. `1 ,
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TURTI~. REEF- ~ASSQCIATES, INC..* ~ ~ tN /?nlow+: R.r~slwa ~ s
Aft fel ~renaiarnt for Credit none
Jensen- 8e~ich-, Florida X3457 ~itelQiMbilit~?1>M. s_..~ne...._,._...
- ICs : Ootufr~srjt $tan+vs s
~ ~ l0! oUt.? chwga lit«ni:sl ~ none
- - • . ~ . ~ - fs? ~ :none
NOTli NO, - D~?TEO: ~ JNiy~ ~6, , , is 79 . lfl _ -none
- lo?< ~?nloont~Fi~+ono.u 736.00 -
_ - IH1 lttaresf s t
.
PV?CB: _ - : , ' _ : ` - ~ ~ , ~LORID/l 111 Credit ImAttipction _ f _ " "
- Othw =fir ~ .
Fa vNw . tM uradw:igrted lhwaimfgr asked "Maker"1 jointly and swwaUy. (if ` " tKl _ ~ _ i
eion than octal pr to pay to Mrs tM oaNc, at its off ia», lislaa above. d„-T _
Of Peymerats.~lr«n.INI a, +ll+t1 a ~~2• - ,polyrs paysble in fq *
. l~ FJ CHANaf: 2486 ~ $0
post nanthly utsWhetartts d 8 ~ - ~ the Nest f11. . K. ~L1 ° i
i/lstail c.dul on ~ Autwst 26 - - iB~. and aritsaquant imtaittraaraa des cn - (N) ToW of Payntatts,lG ~ M1 _
~r~n •
~ ~dw oi~aeA n~ontl? tMsattTri~o~tlw:=tip: FINAL BAl~00N PAYMENT*Of: - KNNWt~ PERCENTAGE RATS • %
: ~~t~ OUE ;19:_::.::... ~ _
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TM sank MtaN urwtose a delirtquMCy dtwgs a8afntt thi Mekar on any paynNOt whidt-has become. due-and rnr~aira in rlefault.tor i faK+pd a aarass of 10
dsys in an sntount equal to 5% of,tM amoaa~t of tM principal part of .the payment in ~atault. In the event than the Nor b not paiid in fait at maturity, all psiy-
meeta, whethw principal; intaeN4 or otbsnivisa, shah bear inte?aat at tM mexinturn lpN rata albwpd asides tM lam of tIN Stara o~lRlbridla: AB paynkntt made
heteurtdar fitail bi credited fa;t to httaraat.and than to priracipd, howswi, in the.want'of datauh, the Tank nMy.'in iescola diserltioty apply any payrewttso:
interest, principal wM/or lawful dtargas shag accrued. It h lira intantioe of tM parties Mesa thti:tM protrisiom Iawrriri shall not p?oridr dafietly «irdincthl
rM the. payment of a graatM na of intwat or tM retention of any oNtw dtargs than b atfowad by Iwv, lf, fa ariy taasefn. tnterast a eugep of each NDaI me a : .
s charge Prohibited by-taw sitsit et snll ci+rte be PMd. arW.sud~.xgpa shill a+thalr oonstituta and a traa/ad a. f»Ylmnt on tM Pra+cip~al or bi rafundalf diraetltl .
to the frMka?. - . : - = " : - -
Thai Makes maY PtaPiy tM cretin unpaid balance of the lose at any lima. if eM• loan it'prepaid M full.. seoelwated « relinanoad, tM Meker shall receive a
refund of tM unawnad portion. of the interest and irtarrsnte prareiuna,wmPutd by that RuN of ~8's method. exppt that tM.Battk shall ba erltitlad to retain . ,
s minimum interest Ntnga of ~.Cp,, - . ~ -
t:ftEDIT kIF.E AND CREDIT I.iFE la DISABILITY tNBURANCE ARE VOLUNTARY ANO NOT REQl11RE0 FOR CREDIT, 8ueh"inwrartoscorwagt is
sgilable st the Best designated bNow fa tM term of tM eradh: W i fa ar'redit Lib Inwanoa lb1 t -
f«Credit l+b !Disability IrMrrrartot: -
Gnck ? Cndh Lib irrsarrartea is desired on tM lih.of
Apps. - _ a3irthdata
Box ? f~edit life 8 pisability Irawranp is desired on ~ -
n
cr-i~s to "
- t..l Credit "Lift end/or OifabilitY Inwrana h not desired, .
Date Juiy~~a~ - signature
- r-
signiturr - _
A: sfKUrity f« the payment of tM Noe tn. Meker hetaby grans to ills Beek a facwity .ell ty: i it Turl1 • Reef -
ARC. tea: a-19. as des~~d in laid ea 9~ j -
~ inchding all ini:rasses, substitutiora, nPlaoararents. addnioni and aooafsions thweto and in tht prooNds thereof Ilaareineftar plied "CoAataral"1. This fawrity
interest shall also. peon arty other tndabtsdrrss « liability of tM Make to thi Bank direct « indirect, absolute a oontingant, des « to bee«ne dui,
~r es-
istiraA Or hKpf ter wising, induding ~H bran advMk7aa or loans by the Bank to the Maker.
TM Bank it also givers a lisp and a security intsnst in all property end sawrities of tM Mekar, ertdorear, surety. guarant« a sccorrrmodscion pwiy~f~this
Kota ihenhtaftw ?ettarred to as tfae "Obligors'9, stow in «at any time hweaftw Doming into tM control, custody a pofsassion of the Bank, wMthw for tl~i,ax- .
praeed purpoea o1 bfnng wad by tM 9ank as Cotiataral, « t« any other purpofa, and upon any balance a balartcif to eM o»dit of arty. secure, inekrd
trust and agency aooounu nuintainad withtM Bank by sny of tM Obligors, and tM ObliSort sgraa t0 datives to tM Bank additionM CWateral a make ftreft
psymaats k reduction of.the prirtcipat. amount of tM loan at shNl bt setufaetory to the Bsrdt, in the went tM afonrnattiorred Colk+terat-shah dadirte in wive -
a become aaMatistactory t0 *M Bank. -
Additions to, reduetiarts « exeftartgas , Ot substitutiats fa eM ColUtwat, peym«ta on aoeowtt of this ban w intxaases of tM fame. a othw loans trade
Pwtially or wholly upon tM a;ollatersl, rely from lima to tints ba nteda without affecting iM provifione of this Nou. The Bank shalt sxwasa raeaonebla Cara in
iht a+st9dY end praeervation of tM Colatwal b tlae extuat .te4uired by apptipble =tatU>f, end-shah ba deemed to haw etutreifsd renorttba are if h tetra ends -
sctiott -tor that purport a: Makes shNi reasonably regwst in wricieg, but no omisfion w do arry set not requested by Makes shag M daanwi abilun to exercise
raesoneba ate, and nq omission to comply whit any request of alakrr shag of itfeN bs dsemad • fsilure to exwcisa ragonabla an. Sank shNf not bar ttowtd ao .
take any steps rtaoatwy to praarve atq? ri~ra in tM CollatarM apeinst Prior pestles and Makes thaB take all rtaasgry ftsps t« such pwpotas. TM Bank « is
nominee rMad not collect atterest on, a a principal ot, arty Collatwal a give any notia.widt respect to it. -
TM Bank may contirwe to hold any Colkateral deposited Mrwrtdw sftei tM peyment of this Note, if at the time of the payment and disetaarga twreof sny of
rite pestles Baba to tits payment hereof shah be tMn directly «oontutpanW liable to tM sank as Maker, endorser; surety. gwrantor a aooontrnodrtion pwa j
of any othw rase, haft, bill of axdtartga. « othw irtstrwrtant,: or atharwise, and the Bank may MwNher exweiss elf rphte with nsoeaot to said CoNat
grsngd hwain even though this Note short have bpn sunertdend to tM Maker. - ~
If the Bank deems iaelf iraectrn ar upon iM Mppsrtirtg of any of dte followiq owns, esch of.which shall ooratitute a default, ail 1iab8itias of eaa;h Maker to -
tr+e Bank. including tIN entire unpaid princip~M Of tftit Nola and acerw0 Interest, tress sny tNaawned inwest end any interest iR excess of tfta maxirrwn? albwad
by taw and any nbags regtrued by aw, shah irrmadisgh? a thareafbrr at the option of tM Bartle, except that tM ooprrrwta of kl « Idf shall ewes automat-
ic aeeetaratifln; withprt rolls «dentand, baoonaadw and payabN: sal tM fsiNrre of arty Obligor so pert«m sny o6liption:Iiebtlity. «eleim to tM Bank, to pay
ingrest hereon within 10dys aftw h a des. & if tltare a no due dart, asses h b Ditlad «.otharwise regarasgd or dentartdad, or to pay any other liability what-.
foevw-to tM Bank when des: lbl tM dsedt- of any individual Obiq«, lire dissolution of any partnership Obligor a tM ditaolution, nrrOSr «oardidstion with-
out the Benk's prior written corpartt of any oorponta-Oblige; lei site tiling o(a petition in bankruptcy or the sdjud~atlon of ittsolwriry er banknupsry under
any reorganisation. wraragantant, reedjwtrrtarat d debt. dasoh+tion, Nquklation or similes prooaading under any Federal « sag atfnute, by « against any
Oba~gor; (dl an appliption for tM appofntntant d a naives for, o`t tM ataltirtg of a gutanl eMignrrtant for tM barrfh d etaditOrs by, arty Obligor; (el tM eclair
of jydgrnarlt against wry Obligor, lf) tM,iswiirg M arty attaehnwtt a< Wit, a tM fdirp of wry lien, pNrta.wry property of sny Obliges: lgl tM tMtirtg M
Possession of any substantial part of tM property of eny Obligor at ills irMtarlCa of any govwrtraterttM auth«ity: lhl tM detarrnirtation by tM sank that a !Elasari-
sl sdvenM dlNage has Ooa:wred in dte firtandel oortditiolt Ot any Obligor front the conditions let forth in than mat rears financial satamaitt M soots Obligor
heratof«a brnidted to tM Barth, a front tM c«tditlon of slydt Obligor as hwato/on most scantly disdoaad to the 8snk, « that any twrwnnttl. raprwntation.
artifiaq « ftaterrtant d any Obligor (whedtw oentairtad in this Noe « not) pertainirq to « in connection with this NoN « tM loam wirNna:ad by this Noe
contains an untrw steamers of nrteriN bet or omip to. sate material-fact naatsiry &i.ordw m metre tM statemena nteda not mislaadira~: ip the aasign~
mart bti any Mabr of any equity in any of ttie CoNagrM without the priatr writtara cerNantt o1 tM Bank. '
TM Bank >fiftt have: but f11Ni rest b~ limier! m, ih~fellowirag rights, each o! whkh may be exweisad st any rinse whsthw « rte this Nee M des: "li) to
pUdge a: traraafer this Note and tM Coilaaral atii0 rite Bank. shah dtarwpon bt nlieveat of aN darWa and nspornibilitiM htnaandw and rMiavad trap any end aY
Iiability with respect t0 any CottsterN a pledged a-trerMhrred, anQ ~ntt f>tadgM «tanderee shah for aN purposes stand in tM Plea of tM dank' ltarearrtdar and
lrwe all tM rigita of tM Bank harwndar; lul to transfer. tM whoa «aasy part of tfae Col4taal.jt?to t~ r~ierns d iaeff or its rtorrtirtee: (iii) to vote the Coilasaral;
1iv1 to notify tM Obligor of arty CotiatarM a creaks payrstartt'o tM Bank of any wnorrttet dui a to baootttt des thereon; Iy1 to darnaM, saes for, ooNaee. «
~w `°3'K~ a'
s us'e` ~ier`e~n
means u~ re`~Ree'ssoc~a~es
; tin an ~r00~~s as~s'1
gl~'.°` '
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F9ti 1•S2 Res. rm B~ t PA$~(JV~7V