HomeMy WebLinkAbout2130 INSTALLMENT PROMISSQRY. NO~i'~ ~ '
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TUatLE REEF ASSOCIA?ES; -INC. * IA1 A~touht ra~.iwd ~ ! its89o~
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Jensen` beech, Florida 33457 Icl DoalhMnartist~na~ i e
Notk No. a?tEO: 24 August , tg 79 . IFt ~ one
- ~ tol Artlduttt ~l ~t•~ - ' ~ 11 880.0(1
IwE• ~r ,tB h, r. c, a,
- ~ Ilfl Interact ~ ~ r r
PLACE: ~ FLORIDA 111 Credit (Mvestlyetlon !
Fa velue received. tM undersiprtsd.lhpeinefter oslNd "Maker") ioinNy sod severally ht IJ) Other - >1 t
more thsn onrel proraW to psy to h lhr , at ib-offk• Ibted above. tlx'CQW IK) 1....rt~~-.~.,.
of fhymena (from IN) Et rlOltt! of d~7.60 ~ boUtw pth?•bl• to 1Zp lu ~I~,~, . ~ p~M~t- ~ ~ r t / r
•qu•+ nronthhr UHtO1lrtMlrh of ! , ttt• Ilht (H, i, ~1~. " - ~ 8,577.60.' ~
rn,tdlment, dw on 6 - ~ Br ~ 1A..~, •td eubsegtlant ttreailhttantl dlw on lNl etrW el. Mwntillb (d J ~1 f L • .
the~_day of ~~torrth theraftgito~drowith: FINAI_BALiLOON P/~,YAAEt3
~OF: /~NUAI i~pCtNtAOE pAT1E -12.00 %
S 0UE r'1l~a,~:
The lardi rihall Itttpgss • ti•htttltteney eheriye aoWru dt• 1AakM eltl any payttWk tt111kh live bt~ewllr.dlN ilMd NnldAe IM IldQik felt • pKlod In •xrrpe of 10. ,
davF In an smouM rquaf to d!i of the anrtount of tM p?ktellal peat ofi the paytirirtt M tblwlt. Id ill• tltl•ttt the tll• Nela.b Mot Wld In full at ttteturlty, aN .
netts, w!r•tlrer plnelpal, iAttlt•tt tN tlthtltwlM. tftaH ifiY 1ntllrNt •t the ltlarthfMlM lam tell Nlorwd tlftdot tIM Hate llt !h• •taa M FlotltY. AU p•ymartb
hNevrder shed be aadited rrrs to interest and then to principal, however M tM .vent of dafwlR tlt• Bank may, M fb stele dudttlon, apphr any
intsnst, prinrdpN and/or hwf~ tdraryee then snxrtned It k the Inantlat o~ tiri ptlttlM tl•tdo thB the prOtrNiotM h•r•IM Illell 1wt prtttrlde tiirictly a
to the payment of a fl~~ rate of Ibareet or tM r•t•ntiWt of trlty btFrk eharE• tlWt N MbMd by brie. Itr fa ~ trMOn. Ih11tMf In rxaee of fade bBel r or
a charge prohibited by bw ehaU at ant? time be paid, any each •xase tinell Nthsr eatutltua •td b• trreMd ~ • p~?trtlMt Wt t1M ptinelpN e• !N rNutrtbtt~ltectly
the 1~? eery p?MNy thM N+tItE ul+bl~d b~llb~ tlt db lanl M r1111.1Ih10.114M/ IdIM y li< fUllr r11111NWi u1 IIIIIwneld, dN Mdt~t di1111t•e~lN ~ _
refund of tlit# ur?earnted portbn of fir Intaast and Irpttratto• pr•mWnt1 tangoed by tIN R11N M 1!'1 mllhdd. btellM d1~1 f1N MMdt 1h~lt ~ •Mtltld to rattle
s tninlmurn Uter•et d±arp of ld,W. .
CpEblt LICE ANb CpEDIt LIFE d DISAlILIt1/ fNlIUpANCE AIDE VOLUNtAgY ANCI NOt MtfiUlM~b ~bM CIIEpIt. Weh hteuratsoeoovaraBe b . "
awllable at lire tort daeldtrat•d beksw for tft• ache of tM t>f•dlt: W ! ~ felt Qralllt LHd ~neut•tla• Ibl !1 ~ -
for Credit Uh a oiubfav Ingtrrenroe:
Check Credit Life Insurance b desired on the INe of
Appl. B t1a •
Box ? Credit Ut•'ll Dlsablhty Inwrarre• b dtytnd on
Credit Lib andlo• 0habillty Inetlntta It not tfoslrad.
Date: 24 August 1979 Blp~etur• -
~ Ha a
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a severity for lire payment of the Note the Maker yratri to the m er ea y, nC •
In Turtle Reef Cored 1, recorded i.8. Book 263, ~aee 2012, Unit s 3 , n n =
' D-~t- mot- No. D-27- as described in said Bartage.
includitrp all increeses, substitutions, repkrnorrrants, addniorrs and aotessiont iherato and in the proceeds thereof iheninatta p11ed "Collateral"1. This ssWrity
f interest shNi slso secure eny ottw indebtdnue a Ilabtlity of the Mek•r tQ tM 8ahic direct or Indirect, abeduts a t~nelrram. dw « to biy..-~+e dw. now es•
II istirg or heratgr arairg, i~tcludinp sH tutun advenoa a locos by the 8arrlc to the AAek•r.
The Bank is also given a lien and a security interest in all property and securities of the Mnrka, endorser, aunty, pWrsntor or acconrrrrodation party of thin
Note Ihereinaher referred to a tM "Obl;pors"I, now in a N any time herNfter coming into the cattrd, ctutody a poMession of the Bank, wMttra for the ex-
pressad purpose of being used by tM Bsrtlc sit Cdk?teral, err for any other purpose. and upon arty b~arra w baktrtees to lire rxadlt of any aooannts, indtdirrp
trust end eoeney sexounts meintairrd withtM Bank by any of the Oblioora, and dr• Obliptrrt pree to deliver to the Bank additional Cdlateral or make suds
payments In reduction of the principal smount of tM loan es shell be atbtactory to the Bank, in Nre ewem the aforementioned Colkrtenl rilrNl dsdine in vaiw
or become urwtiataetory to ifse 8enh.
Additions to, reduction a exdranpes of, or subatitutions (a the Collateral. peymatri on aocourtt of fhb keen or increases of the acme, a other loam merle
partially a vstrolly upon tM Cdlearsl, may from tlnN to lima be rrrsde without affecting the prosisbM of thb~lote. TM Bank shall •xerWe reesonabN sere in
the antody and preservation of tM Cdkrterat to the exam required by applkable itstua, and shad bs deemed to have exsrcNed reesonabN care if k take such
action for that purpoa sis Maker shNl reesombly request in writing, but no omission to do any act not tequesad by Maher shNl be deemed a faiyrn to~ixercist
.easorrabN can, end rro orrrisaioA to comply with any request of UAeker shall of Itself be do•nrid to frrlhrn;o exandse rauortabb tire. Bank shell not be bound to
take soy steps neassery to preearve any ri~rte in the Cdkrtaal ageirot prig pertfes and fiArrlter stroll qke all nreeessery saW for such purposes. Tire Bank or its
nominee need not oolliet Interest on, or a prkrcipal ot, any Cdlatenl o? eve any notk~.with rWpeCt to tt.
TM Beak may eorstinue to hokt any Cdlaaral dopaaited Iwrwrder afar the peynNnt of tlrb Noe. If at tM lime of the poyment sod disdrarga ttereot any of
fire pertias liable for fire payrrtare hereof shall bo then directly a eoncirrOerstly liatrle to tbs Brnk a. Mdcer, endorser. wrety, Etwanta a aocontrnodation party
of soy Deena noes, draft. biH of exchanrge, a other irratrurrrerrt, a oMerwbe, and the 8enk may thoresfta sxerda all rights with respect to said Collateral
4rsnted herein even thouoh this Noe shell have been aurrerrdered m the Maker.
It tM Bank deans itMlf insenwn or upon the happening of any d the fdktwinp nrMte. Melr M tt/rk:h shell eorletfWa • default. d111aWIftMs d sonde Maker to
the Bank. including the entire unpaid fx?nek~ of thM Noe end •ocrued interest, hies atw uheanrad Inar•et end any inttrreet m aru:Me of the maxYnum albrwd
by krw and any. rebates required by law, shall inrtradkstely or dreneiter, at the option of the Natt~c, •xapt that the oeewrona of Icl a Id! shall automat-
ic aoceNration: vvitfrout notice a demand, become dtr• sod psyabh: lal the tsikue of any Obligor toperform s+n1!#1nlMptlon, iiebility or dsirtr to dra to pay
interest hereon within 10dws afar it h dw, a If fleece b no dw dsa, after it b billed a othtrwiN nquasad or denrerded, or to pay soy other liab" vshat•
never to tM Bank when dw: Ibl tM death of any hrdividual Obligor, the dissohrtion of any trsrtr»rship Obligor or the dfssohrtion, merger a oonsdkts with-
wt tM Bank: prior written consent oI any corporate Obligor; k! dr••fuirrg of a,pnitlon Iw bshkrupecy or the atlludiation ~ in/oiwerey o? bankrup carder
soy reorseniza:ion. arsr?grrtrent, raadlustment of debt, dissdutiorr-~iquidetion or similar prooeedrg under srry Fsda.l or eaa staara. bh or piiaet any .
Oblgor; ldi sn applir~tion to fire appointment d • r•c•iwr,fvr, a Nr rrtahirrg of a ~errenl wigttrttant for tM benNlt of creditors by, any Obligor: la tens enuy-
ot wdgment apeirnt any Obligor; Ifl tM iauitrg of aistli sttaohrrrent a gernMhnwrt, or tM f dintg of any lien, ageiMt soy properly of soy Obligor; the eMrinq of
possession of any substantial part of the prapaty of any Obligor at the irtstarree of erW governntsnW authority: IM the detarttirretion by the Bark than t nnsteri-
aa adverse dratge hN orxurgd in the finatrefN edrtdltktn of any Oblfgbr from dN r~rtdltlotrt set forth IA the mat ttraerrt flnratreiaf satement d wdr Obligor
heretofore fumfshed to the Bank, o? frtlrtn the torrdlNewr of each ObUgor K heretofo» moat roenth? dbNoMd to the Bank. o? drat any werrantY, representation,
certitkea a etaartNnt of fifty Obtyot lwfNtilar •slltauled M thM Noe err not) pabb+MO to a M oonrteeti0n fhb Noa a the keen •eWenc•d try thk Noes
conaint sn uMr1N statertMAt Of met•rial feet df gfltiM t0 eaa rtteterbl fact eteeeMMy In order t0 mdta lets Wtrrronts rrtod• twl misleding; a, lil dre assgn-
rrrent by snit Maker of sryr equity in any of the Gllbanl without the prior wr eoraertt of tens Bank.
7M Bank shall hsve, but shall not be Nrtttited td. !lN fdlowirtg ri~tsl,~ijiltich may be exorcised st any time whether a not thit NoM is dw: lil to
pledge a tratsfen' thfe Nob and tIM Oe11wrN aid dig ~afdc Nwp WirNlpoft W rNMwd of all fIWIM and r•~oneiWlKMe ltar•urder and rN_lered from atw and ail
liability with taspett to any ColMtad to pledged tk transfetnd. end Mr'il pktdgae tx ttarMt•rN shell fix aN purposes sand M tM plea d tiro Bank hMeurder and
have all the ryhtt a)f ttM Hank INrNlndtw; INI to ttefWr /tM ttAtob et ally pert of the ColbtHai MKO tM trNtl• of ItsNf a its troruirlaR; lull to voso UraCplletarM;
liv) to notify tM Obtigort of any Cdkrtrrnl m mMte payment tp 1M bank of arry antoums dw or t0 becartra dw tlreroon; Id to derrterrd, sue fa, bQ1Nb, or
m.ke «w ~~~K~ as ~use~` Mere n means u~
r~'re ssoc~a~es
; `fi`n . an ~fi°0~~s as~
giprns°`~. °~~~`"y'"'1'
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