HomeMy WebLinkAbout2143 iNSTAILMENT PROMISSORY NOTE -
ra ff o
TURTLE REEF ASSOCIATES, INC. * tAl Amount Retx+ivad t 5.978.E
taAPIK HAM. (BI PrertNunt for Credit none
Jensen Beach, Florida 33457 ureroiw,uity Itts. _ :
- ICi ooeutttattary Stamps : none
oRFtc A _ lol OtMr Chergee liamitel = none
LEI = none
NOTE NO. - DATEO: sagest 18 .19 79 IFI = -none .
DUE: Std~tlll~Ql~' ~ , 19 ~ 1t31 Artqunt Fining! ~
IA. B. C. O, E, F) >R 978 ~ ,
IHI Interest f
PLACE: , FLORIDA 111 Credit htvestigation Tj
t
Fa velw received, tM undentigrted (MrNnstter alkid "Hiker") joinNy and severally lit KII Otiw _
more thM, one) promise to pay to tM order of tM , at is offiot? IbNd ibove,~~Tno~ iU i~_-~
of Payrrrgtrf ltrwn lNl at right) of , V a93• Dollars payabN in '
- - - - - - IMI fiNAMCE CHARGE
equal nwathly instal is oft • . tM first .4 es1 S:~
rnstaNmertt due on tuber ,1 ,and subeegtn.rtt irssaltmants dw on IH, 1. K. W ~ _
INi Total of Payments IQ t M) : 6
tM day of T10n~'on~ thereaftertto with i FINAL. BALLOON PAYMENT OF: ANNUAL PERCENTAtiE RATE __„3,?.,~~.
S DUE , 19'
TM flank shall impose a dNirtgttertcy clsarge ageatst tM Hiker on ally payment which his ber:ortte dw and rerrtaim in dt!fwlt for a period in ~ Of 10
days in an amount equal to 5% of tM amount of tM principal part of tM payment in default. In tM event that tM Noa b not geld in full at meteuity, all pay-
ments, whtEther principal, interest es otherwise. shell bee intergt st tM msxintum legal rate alkiwad order tM laws of the Staa of Florida. All payments tttetb
txreuflder shalt be rxedited first to interest and then to principal, htxwevar, in lift' event of default, the Battle tttay. in its fob discretion, apply any payment to
interest. principst and/or lawful tJtirges then stxruer:. It b ttta intention of tM pertiee Mrsto that tM.provbions herein tftNl not provide direedy or indiractN
for tM ptyment of a greeter rate of interest es tM retention of stay other d?irye titan b albwed by law. If, for any reason. interest in axpee M txrah 1eYM rate or
s charge prohibited by law shall st any-tint be paid. any such exgn shall either oonstitua and be treated a a payment on tM prirsclpN es be refunded diret:dll
to tM Maker. .
I / the Maker may prepay tM entire unpaid tiaprtce of tM loan at arty tine. If tM loan it prepaid in full, sceebrated es refinsngl, tM Halter-shall receive a
~`-~ir' ratans of tM tuae?ned portion oft tM interest and irgwana pnmwms computed by ttM RuN of 78's method, except Chet tM Bank shall b~wttitlN! to retain
, c. a iAn~rest dssrge of 66.00. _
~~~T LIFE AND CREDIT LIFE d DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such~irawarsoMcowrsEeis
available st tM cost designated Dhow tes tM term of tM rxadit: Isl _ for Credit [Jfe Inwrence lb) :
for Credit lah fl Obability Irtsttranot: -
Chetk ? Credit Lite Irtsurartce is desired on tM life of -
Appl. Birtltdsa
,
Box ? Crttdit life 1! Disability Insurance b desired on _
Birthdste
Credit Life and/o. Disability Inwrsrtce is not desired.
Date: AIfSuSt 18a 1979 signature
- ~'ut~i
1~: r~ic e -
signature
As security tes tM payment of the Note tM Maker hereby grants to fife Ban i e.eturty leaves. the following property: in [Igl"tl! Ree# fond I
rpr_nrded in 0. R. Book 263, pace 2002. Unit weeks S5 and 46 in Cared D-B, Apt: No. D-8 as
dog{:ri bed -i n ss i d 111mrtyatx . ~ -
inCludtng all irtuetises, substitutions, replacements, additions and sooetsiorts thereto and in tM prooaetls dteraot ilterainafter rued "Collateral"1. This setxrrity
interest sftsll afro tacure arty other ifrdebtedrtess es liability of tM 11ANcer to the Bank dancer or indirect, absolute or contingent, dw a to beCOnN dw, rear ex-
istirg es MrNtter arising, indtrding NI future advatta a loans D'1t tM Bank tb tM Meke~.
TM Bank b also pion ~a .lien and a security interest in all property and securities o1 the Maker, ertdoner, surety, guarantor or accanmodation perry of this
Note Ifterairtatter referred to as rite "Obligors"1, now in or st stay time hareaiter coming into tM wntrol, pntody or pomssion of tM Bank, wMtMr for the ax-
pre,ted purpose Of being used by tM Balk as Collaaral, or for any Other purpose, and upon arty. balance a< balances to tM credit of any aoeountt, irsekrdirtg
oust and agency accounts maintained withtM-Bank by arty of tM Obligors. and tM Obligors spree to dNiwr to the Bank sdditanM Collateral es-make such-
paymsnts in reduction of the principN amount of tM loan ss shall be satisfactory to tM Bank, in the event tM aforementioned Collateral shall detlirte in value
a. become ungtisfaetory to tM Bank.
Additiora to, ?eductiorts a exchanges of, es substitutions for tM Collateral, payments on ecoouet of this loan es irtaeases of tM ssrne, a otMr loans math ~
partially es wholly upon tM CollaterN, may from time to time M made without affecting the provisions of the Note. Tha Bank shall exercise rassatsble rrere in -
the custody. and praervetion of tht CollaterM to the extent required by applipWe statute, and shall ba deemed to haw exercised rpsonebta pre if it takes loch
action for that purpoa at Maker shall reMOntbly raqugt in writing, but no omission t0 do any act not ragtusted by Maker shall be deemed a ttilure to exercise
reasonable rare, and no omission to wmply with any ragtrett of Maker shall of itself be deemed a failure to exercise reasonable pre. Bank tihell rat be bound to
take any steps racessary to preserve any rights in tM Collateral against prior parties and Maker shall take all necessary steps for such purposes. TM Bank es its
nominee need not collect interest on, es a prirtcipM of, any Collateral es give shy notioFwith respect to it.
The Bank may continue to hold any-Collateral deposited hereunder s/ter the payntertt of thb Note, ii st tM time of tM payment and desrdsarge hereof any of
the perties liable for the psymatt hereof ahMl be then directly Or oontingentfy liable to tM Bank as Maker, endorser, suety, guarantor or aocortxttodstiort party
of any other note, dreft, bill of exrisatga, or other Mtsawrtertt, or otherwise, and the Bank may thereafter exercise NI rights with rettpsct to said Collsterel
9rsnted herein awn though this Noe shall haw been wnertdered to Ure Maker.
If the Bank deems itself iMeture es upon tM happening of any of tM tollowirig events, each of which shall txtrtstitute s default, NI liabilities Maker to
the Bank, including tM ant"ue unpaid prineipN of fhb Noe and arxxwd interest, Iter any unreerned inareK and any interest in excess of tM max albrsed
by Law and any rebates required by law, ihNl iaMy es dMreslfter, at tM option of tM flank, except that tM ocetrrrerice of.lel or Id) shall tames.
rc aeceleretion; without notice es derrsarsd, became dw and peyabb: (s1 the failure of any Obligor to perform any obligation, liability a claim to tM , to pay
interest Mreon within 10daya after it b due, es if there b no dw date, afar it is bilbd es,othervrbi requeead es demertdad, es to pay any other 1' it11 wMt-
soerer to tM Bank when dun, Ibi tM death of any individual Obliges, the dietalution of any partrNrship Obligor or tM dipolution, merger or consoiida_ with
out tM Bank's prior written eotgertt of any cespoaa Ohl ; le) tM filing of a petition in bankruptcy a tM aqudrptlnxs of intoivetseN a bankruptcy under
any raorgeni=atan, srrengarnent, raadjustrnent of debt, volution, liquidation es simibr proceeding under any FedaN a sea setae, by es egiina any
Oblges; Id1 sn appliptian fa tM appointment of a noiirar for, or tM rrtiltirtg of a general sseignmatt for the benefit M creditore by, any Obliges; lei tM entry
of judgment againn any obligor: Ill tM bwittg of any attachment a gunblttttatt, err flee filing of any Ibn, agaivtet arw property of any obliges: Igl eM taking of
possession of any wbstantiN Pert of tM property of any Obligor st tM instanq of arty gorernrrtental authority,: ltd tM determination by tM Bank tlsat a materi-
al adverq dangi has occurred in tM finerteial eortdition M any. Obligor irpilt tM tonditiorta fat forth in tM mod recent financial statement of vetch OWNes
heretotorh furnished to she Bank, a from the vwttdition of each Obliges sa iteretofara moat recently d'adoead to tM Bsrtk, es that any warranty, rapraeanation,
certifipte or statement Of any Obliges (whether oontaawd in thb Nob es null perginirq to or in oovtrtaetion with this Noa or tM loan widettced by this Noe
conains sn untrw satement o1 rttateriN fact err omits to sea rrrterbl fact necessary in order to make tM sytanertts made not mblaadiq; or, fit tM aesngr?~
meet by arty Maker Of any equity in any of tM Collaaral tiiii~ pries written consent of tM Bank. .
TM Bank thsH haw, but shall not be limrtevf~o tIN Jq g~% each of which may be exsreieed at sty tuna wftetiter a not fhb NoM b dw: lil to
pledge a traMter thb Noe and the CoOaterel sued fife Balk shall dteretrpest be relieved of all dudes and responsibilities hereunder and relieved ham any and MI
liability with respect to any Colaterel ao pbdged or transterrad, aM arty Pledgee or tramferee shall for sit purposes stand in tM Pboa of the eavtlt Itereuvidar and
have all the rights of Uta Bank heraurtder; liil to tratdar tM sNtob a any pert of tM Collawai into tM name of itsNf err its nominee: (iii) to voce tM CdbarN;
lir? to notify the Obligors of any Collaterel to make payment to tM Bank of any amoutm dw or to baconta due dsereon; ld to denrM, aua ter, collect, es
malts any. ea
I~r~r~ti~e err settbntent (t tfeenK ¢esirsbM with >yfargtpe to tM Co10wM.agd [vii to tyca _ or o1 of ooaede of CollaarM.
~ 'BANK as used herein means Turtle Reel SsaC1a eS, InCn /or`°~~s ~a~igns.
NOTICE: SEE OTHER SIDE FOR IMPORTAfYT,INFORMATION g~3~~ zi~3