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INSTALLMENT PROMISSORY- NOT` ~ - a ?
tURTLE REEF ASSOCIATES, INC. * IAi A,nouM p.0e~d a ' 7110.00
NAat !C1 U eta t .
Jensen Beach, Florida 33457
Dalilrtafarti ~tafpfi
c IDI othtx Gt•rrp• Uttrnletll •t
IE! it le
Noll: No. -DATED: . tg~9 iFI ~ one •
lol Irlrtertoed 7110.00
twE• con#.d.e,t• t t tE.,..>3~ IA+ e. , D, 6. It1 f
.tee _
_ 1111 Inarest - ,3 •
PLACE: ,FLORIDA 111 Credk hteeetlgetfon fj
For value received. the urrwleersigrted ihesinata? eatNd "Make?") iointly and seveslly Ill ~ Kli Ota?u i
coos then anti prontia to pry to the of Nta , at Its oltiq lurid above, the'Co1d
of vwftrttri Ilran INI tit rlghti of Lz'43; 1LU IU
~lbrepayeblaln IIiAI HIi~11N~liL~HAMbt ~ 5133.60
egtrel monthly tttetatlmenri of : , tlla hht
imtNlntertt e!w on October .19 , twtd subsagwnt ttawlrttertb due on ,
lNl total of lhlyn+inb Id ~ bl!
tl+e~„day of ~~tortth tltereetter=to~ttltK with ~ FIN/U._~AILOON pAYM~Nt OF: ANNUAL MltpCtN1'A~l~ 11At1E •
ti - OUE .1E:..,...
TM Wok-shall 1rr11taea a tleltngwney tdterge agalntt the flAakar nrf trey peyfttnll ttlhlbh hie baettfni. d111 wttl rinl•Iw in tl•lNil! lift • pflrlod Ib exaeee of ~ -
days le in arrwtlnt equal to !!!6 of the amount d the wlnt:bal pact of tltepayriNrtR ih tlelauk. Irt t11• ateiM that tlti Nttii b Plot p•Id.M 1111) •tnlatwlty, aN
menri. wltefher prlndpel. lnaratt a otharwNa, dull bier Intitist •t tlta MaNhUM lord f•ti Idlaw•t1 tlt•!i? tiN lieee d1 Nf• •bM bf ft10r11le. AN '
herwrtder ,hell be credited first to interest end tften to prirtclpel, honvewr, In the event of defeuk, the rertk M Ib atsli dNatatlOn, apphl ahy to
interest, prktdpel atsd/or IaMAuI charges ttNrs eovued. It b tM tntentlon of tltl periba hereto thH the ptdtrNlont hMitn tilull not proldd• tlkeetly a Irldke~l
for the peymsrtt of a greeter sa of IntereeROr tM reantlon of arty odtM eh/rdr th•n N td101sed b1r lae11.11r 1ef qM1? fN1pM, Iblrrief IM lxtc•es of aieh ~ rtlga a
e charges prohibited bt? law shell et any time ba paid. any retch exaa eltall either ttonetltute altd b !ri•tId tat • piyitNMt tli1 UM d?InebN or brf relufttlW dkeetly '
to the AAakar. .
th• fYlikir m+t? pMp•1? th• rntlfi unpfltd bftllulii tli tM• lan N Iu1y 1UIal. I1 Nlll IIIIM M pNd•Id IM IONr alOlelrMH1111f Ifflllllllliid thg t111k•? IihWl recNwi •
refund of the unearned portion of the Interest and Meurartn prtwnNutls torttputed by Hw NW o11A'e ttlilit•d, ilt:alpt flit! Hlg !l.n~C elr•N!r• ifttltled to nWn
e minlnwm Interest t:har0e of >)Ils.dll.
C1iEDIt LIFE AND CpEbIT LIFE l>t OISA~ILItY fNBUpANCE ApE VOLuiuTAAY ?iNb NOt pEd1JIMl<b ~Dh CllEglt. •ltolt Iralt?ana t:overeoe b
ewllable d tM txlet tleslgrtabd below for flu tarftf of tlta txedR: la1 ! fd? Cridlt Lt1g lnsuhlt!• Ibl sl
for Credit Ub A Obability Insurance:
Check ? Gedit Ufe Inarrsnee b desired on the life of -
Appl, rktlldtit• .
[fax ? Cradlt Ub a Olseblllty Insurance b tfeslnd art -
,-~1_ ~ tllrthdea -
t_3 Ctedtt Ufe end/a Disablllty Inturerta h hot tieslrad.
oats: Faust 31 ~ 1979
aelin H. ryalnt
' liNnitu
As security for the payment of the Note tM Maker hereby grants to the Bank a In It>Mrlrsg property: -
Cend,, I;~cerdnd en Q„ R_ Reek 263,, PaQQ, 2a~2.. _ Unit Yeelrg 24 and 25 in Dnd. D-8e
Aft.. No. O=$,-as desrribad 'tn said aart~aT.
mcludinp all inueesa. substitutions, replaGrrMnri, additions and s00eetiont thereto and in the prooseds thereof (ltersiruftet p1Nd "Collateral"1. The sea+!ity
interest shell also secure-any othe? irtdebtednas a (lability of the Maker to tM Batik direct a indirect, absolute or extnttrrgant, dw or to becarn dw, rtow ex-
!I feting or hereafter wisirq, ,~ncludiry all futon edvarsees w locos by fate Bank to the Maker.
The Bank b also given a lien and a aWrity interest in all property and sewritiss of the Maker, ettdorsar, orrery, guarantor or scconwrwdstton party of this
Note Ihsreinatter referred to a the "Obligors"1, now in or at any time hetseftsr oondnp into the t:attrd, t:wtotly or poaaaion of the Benk, whether for tM sx-
prelted purposes of being used by tM Bank ee Collateral, ar for any other purpop, and upon any bdertoe or bNartoee to the vedlt of any at:eotsnri, ineludirg
trust and agency aocounri rrteinriirted withtlse Bank by any of tln Obligors, end du Obligors agrM to deliver to the Bank additiansl CopaarM or make such
paymenri in reduction of the principal amount of the loan at slsall b atafsctory to the Bsnk, to the Brent the aforententtorred Collateral shall dediru in wlue
or became urastiefaetory to tM Bank. ,
Additiom to, reductions o? exdtanges of, a wbstitutiom for the Cdlmnl, psyntenb on ecoarnt d fhb loan or inaeeses of the amt, or other loam made
partiNly a wholly upon the Collateral, may from time to tints be recede without efteetirtg Nrt protrWom of fhb Note. The 8rnk shall exartia ?auonable can in
the custody end prearwcion of tM Collaarsf to tM extent required by applicable stetua; and dull be to have axarciad naeaseble tyre H k trka suds
action for that pwpoa a Maker shall naonably raglrest in writing, but no ombsion to do any set not nsad by Maker shall b~ deemed • IWun to exercises
reasonable pre, and no omission to contplY with any request of Maker shall of Itself ba tieerrted a faflun to excreta renonabb as. Bank shat) not be bound to
take srty steps necessary to praetor arty righri in the Collateral ageirut prior psrtla and Maker Mtat) take all neasary steps for arch purpoMS. T_ hank or it:
nominee need not collect Interest on, or a prinelpsl of, any Collatasl or give any notlee+vnhh respect to h.
The Bank may t~rttinw to hold soy Cd4teral dspt>sttad herwnder afar tfta paymerst of fhb Nob, tf n the time of the paynrnt and diedtarge Mr • anY of
the panics liable for the, psymntt hereof shall be then directly or exnttirtgNtdy Ibble so the Bank as Maker. endorser, orrery, ~wnmor or aoeantrttoda pasty
of any other toes, draft, bill of axchange,.a other Matrwstertt, a otherwae. and the Bank may therafter sxsrcbe ell rlghri with rsspett to ssid (latent
gnntsd herein cunt though this Noes shall craw been wrrendered to iM Maker. ,
If rate Bank tiNnts itself irtseeun or upon tM happeelrtg of any M rate fdlowing ewnbr •arJt M vMtldl ehNt wrtetltute a ddwlt, all IlabNktee of eat:h Maker to
the Bank, indudirtd the ends unpaid prirtclpN o1 fhb Noes artd •eerwd InareN, MM any unaarttltd Inttr•et eAd arty Inaraet M axbNe of the nterrYrxrrn Nbrwd
bt? law and any rsbetN squired by few, shall tnxrrdtaaty or thesaftN, st the option of the Be?tlt. except that tM occwrent» of Ic1 or Idl shMl career wtonut-
Kacceleration; witfsoutnotice or dentartd, lteoonMdue and payable: lal tM faUun of any Obliges to perform soy obligstton, l lability or Nairn to tM Bank, to pay
interest hereon within tOdays after it is dw, or if tlyre b no dw dace, after it b billed a odrerwbe sgtrated or dernandsd, or to pay any other liability whet-
soever to the. Bank when due: ib) tM dath of any indiridurl Obligor. the dissolution of any fertrtanhip Obligor or the diesolutbn, merger a oorteolidation with-
out tM Bank's prior w?itten consent of any corpOrees Obligor; Ic) pre irtg 0i • petition In benknrpttiy or 1M aditrdidNon of ItMOlwnry or benkrttpsty undw
any rsorgsnizstion, srgrsgerrtertt, reedjustmMtt of debt,- dbsolvtiotte, li~dation a similar Proaaedtn0 urxler soy Fedatel or sea statues. b1l or ageirtst any
Oblgor; (dl an sppligtroa for the appointntatt of a soeltAi foi; bi thi corking of a getNral aalgrtnwtt for the benefit d txedtton bY, any Obligor; lel tM entry
of tutlgrrtent against any Obligor; Ih the boring of any stteehmartt or garrtishrrNrtt, or tM idirtg of any lien, agefmt any property of srty Obligor; tgl tM tMcYtg o1
posaeeiort of any etrbstantisl pert of tM praprrq Of any Obligor st tfte irttartcs of any govarnntentN authority: Ih1 tits dearmirution by die Bartle that • rruteri•
el sdvsrN tdtartge fta oowrrad in tM firwtt:W oortdltton of arty Obligor irorn tfN wrtditipria Bet fgrth in tIN roost tat:ant firtsnclM saterrtant of eudt Obligor
heretofore furnbhed to the Bank, or from the eortditbn d stteh Obltlpr ar haretofon retort raantly dbdosed to tM Basic, o? that arty warranty, reprNenestion,
certtfiaes or eaterttertt of •rey Oblggor (t•Itaeltar oentaNtad th fhb NoM a not) parWning td ar M oonrrctbn with fhb Nob 4r the loco widNtead tM fhb Noes
conaim sn untrw sLtemertf of rtMtarW feet a ontla tb tbta rrMterlN feet rtaeet~ary order to trteice tIM gt•tentMttt made Aot,mWadirlg: otr:li) the eMigrs•
merit by any Maker of any equtq in any d tln Collaesrel without flu prior written. tM Bank.
the Buck shell haw, but Ntsll not be fimfted to, the fdlowing rigltp, eioht 6f
~whitMs nuy rte ettercieed at any thrM veltatlser a not this NofA b dYe: lil to
pledges or trartefar thM Noes and tfti CotleterN and tiN I/artk Mall tltatallpon bi rNNwd Of a1f dtsttM and tatponilbllktas iwnuttda? and relieved from any end aH
liabuity with respect to arty Cdbteral a pledged a tnrrelerrad, ertd erect pladge• or traneferw for eN purpaN stand M Nte place of rate ~4 rod
hsve aN die rirlb of th• UtMlt harwMle?; iNl b ttttttsb? tln altob or any pert of tlta Collattiral o the ttarpe d ItMlf or itt ttorMrtee; lilii to vole _ .
(iv) to notify the Obligors of any CollaarN to mela payment to the Bank of any antourtri dw ar to baoonte dw thereon; iv1 to dement, a
make a^t? o~ *~K~ as u
e~` ~ie"r"`e~n means ~ur~e~Re`Messoc~a~es
; `fin an ~rCO~~s asps'
gi°rn°
s~ oO""~'
NOTICE: SEE OTHER SIDE FOR IMFOATANT,INFORMATION 3(m~~s- r~~~