HomeMy WebLinkAbout2153 cs-
- - . -
a'tiI •
r ~ INSTALLMENT. PROMISSORY NOTE
- ~ ~
~ . ~
tUR'tl~ REEF A5SOCIATE~S, INC. ~ w Amount Mealyad s `~,~=.~•~4 •
NK NAM IBi for t iiC11E
Jensen Beach, Florida 33457 ~ . ~--'y~~----
lal lioearlllnlnttlry ~ttiltlpii a
_ .Iot-othftr ohr,>M utm~a a'~i~"_"
NOTE NO. ~ ~ W?tEO: Au9u:t 27 , tg 79. j~j ~ ~'"'i~ton.".e
la ~ AnIOYnt 1:
OUE: 3eatanlber 11, . tg~.. < tA, e. a, o~""ile~i1 ~ s"~':781.00 ,
IIq Internet _ s! • ~ `
PLACE: , FLORIDA Iq tkadtt ttruaatlnatlon ~ '
For wIw retkived, tl[a undersigrtad (Mretnatter cNled "Maker") loinW atld severNhr ll I~itl _
more then anfl t>?orn1N tO Wr to tM order of fife Bardt, at to oftlQa Ibad above. the Td~~~ IU ~
otPayrttant~littrttiiN!!t?~ttl_nl.,._,~~aZQ~_ tlelNntt~yhhhlti~_.. _ _ '
ravel monthly IMtNInNlln a i 95.01 - , the Ilht li~_ R~i~ANOt I~i~iApbR - -
+rutNlmnnt t~ue on . to~r rind tubeetNrant 1ntWhttantl thin HN r J. ~k, L ~
IM~_day of ~d nanth tMrasft~r t thK with FI AL~BALLOON p VMENt OF: (NI ?bbl ol. M~MMnb 10 ~ M1 ~
nQ~ L ~ _1_~! !i__._- ~?NNUAL l~pCtN~'A05 pAtt_ 1.?.00:_x
the Hank slt.l) antlple•y dalutq~eney ttlerpe ipahat the lilakat on tultt WyinwH wh~h hie btlelunh-tl1N find ttirls~lta III t1glWlt Ibr ~ barlod In •,[ow of it1
day: In an amount bgllal~ eel of tM amount of the princtpal part of Ills payltMnt IM tlalWh. ht thg tlwnt flint !hh Nob b Mot p~ld In lull M tnatuNiq. ah pW v
Hann. whether prllrcNld, In{atast or othaewiM, dlalf ttM? Miita!<t H the iMptlntuht IilNl Nb NblMld tMt1M Ihti IM11 of lho ttrM of !•hNlrN. All paylrlal[h mrdo .
hereunder shNl be.cnditad first to ins?est and then to principal. howwer in fife avant of dahuk, tiM Narfft n1Ar M jheol~ t1110ratbn, ipplq any pigment to .
interest, pehtelpN atwi/a lawful ehargn than acenred. it 1s d[e Intantton o~ thtf pari<lae harat0 tIN WblilllotM haeaht Ihilll 1W! MrovkM dteaetly yr hldkaethi
for the payment of a eraasK rata of Inunat'de the realttlon M tiny etltN ~!N thlltt N llklesld !q1 Itwl?, Il, for trtrotl, IMlkut In attain of sLlh ~ ?ate a
a r:harge prohibited by lasv.ll+all et any. time be pNd, any suds ettcese shell either lonetltua and ba trtlrtNd ~ a pi+IltNMt oil tM fi+N+e41N a 6g rafulwlld dl?setiy ' . _
to the Milker.
the 1M![ht nlgr~Wgplltr ligl tiMtlM unp~kl bMlwler W dl~ IwM N twit IMIi. Ii !NI ItNM M IM full, tlllitlNli111 ut:Mllwllpd t!1! ~llut IIIrY1 ?aalwl
ralund of• the unearrtad. poi of fife Interasf and Insursu[oa ptnmwml lontllutad bll tIN ula of 1wa rnlthod, btYlpt thN IIN dan~t Nldt ~ rrltltkd t
s minimum interMt t~etpo Of~.110. - ~ t/ :
t;pEbl1 LIFE ANp t:pEWt LIkE ll g11s1?utLltY INSUgANCE AqE VtfLUNti1gY ANI! N!!t MIt1U1M11! koM Cllttllt. dueh Inwrana corarap h
ewllable d the lost deelWlat~d below for the hrM of the ortMht: itl ! idr llradlt Llhl llulltanw IW i
for Gedit UM 8 Obability IMugnca:
Check ? Credit Llte Inwranee is desired on the IHe of
~+ppl. - - ~hthdittr '
Box L] Credit LHa A Gtsebljlty Inwrana b dalnd on - `
Nuthdah
Credit LNe and/or Obablhty Insuratioa b not tlellrrd. /J ~ - - -y - -
oate: 27 /Waust 1979 ~n.wre ~7~*~d~,.,,~0~
Frank in R. Fedor
- ll~nlltun
As severity ror the pwm.nc of the Note the MNcar hereby grans to t)te ~ ly In the fdlowl[q property: In Turt1 a Reef Cons,
yes^rded.. in n_tz, R~~,~ an. ~ , tMit a•~e le ~ in, ~+nd D-i~+ dec. Nn. D-13 a!s
including NI ineresaes, wMti[u[iwts, rep es, additior?s and accessions thereto and in the prooads dareof Itiereinafar celled "ColtearN"1. The severity
interest shN! Nso secure any OthN indebtedness Or Ilabllity of the Maker to the dank dkeet or u[dNact, absdute o< tontln0ent, dw or to bteana dw, now ex-
isting or hMMfter arising, i~nduding NI lutun adverfds Or loans by tM Bank to tM Maker.
The Bank i! Ns0 given a Ian and a saturity interest in.Nl property and securities of tM Maker, endorser, surety, guarantor or aceonrtrnodationpnrty of this
Note lhereinaftar rNerrad to es the "Obligors"1, now in or at any time haraftar eontinp into the egntrd, autody or possession of tM Bank, wMtha for tM ex-
pressed purpoa of being used t111 tM Bank es CollaterN, or fa any other purpose, and upon any baler[ee or bNenees to_tha edit of atxwlna, including
trust and speney aoearna maintained withtM Bank by any of the Obligors, and the Obligors agrp to dNMr to the Bank additional ColleterN or make such
payments in reduction of the prindpN amount of the loan es sttatl ba atisfaetory to the Bank, In the went the aforementioned CollatarN shall decline in value
or txcomt uraatistaaory to tM Bank. •
Additions to, reductions or txchanges of, or substitutior» for the CoibterN, payments an acwuet of fhb loan or irweaes of the tams, a other Ioans made ~
partially o? vrtwlly upon tM ColbterN, may from time to tine be nude without atfactlrtg the p?ovbiom of this Note. TM Bank shall exercise reesonable rare in
tru custody and preservation of tM CollaterN to the ixtent required by sppliable status, and shall be desnted to have exerebad reesortsbte tyre it it takes such
action for tMt purpose as Maker sttNl reasorybly request to writhg, but no omission to do any net not raquessd by MNter s11e11 be deemed a failure to exercise
reasonable an, and no omiesion to corrtprY wim any rettuest of MNcer shall of rtsNf ba deemed a fatlun to exerclw reesonabN an. Bank shall not be bound to
take any steps negswy to preserve any ri~ra In the CoilaterN ageintst Pryor fArtres and Maker shall take NI netiNrary step foe such purposes. the Bank or its
nominee need Hoc collaet interest on, o? a prktNpal of, any Collateral or give any notkefwith respell to lt.
The Bank may eattinw to hold any CollaterN deposited hereunder after the payment of fhb Note, if at the tlnta of the payment and disdtarge hereof any of
the psrtia liable for the payment hereof shah be then directly or oontingeettly liable to tl[e Bank as Maker, attdaesr, wrety, guarantor or soeommodation party
of any other note, draft, bit) of exchange, or other Mgtrumartt, of otherwise, and ttta Bank may ttlareefter exercbe NI riplta with respect to aid Colbtpal
granted herein even though fhb Note shall fteve been wrrenderd to the Makat.
It the Bank deems itself inNeun of upon the happehing M etny of the followfnr evenbr tads bt t+ehbh tltrll wttstltuta ! dalault, alI IIabI1kW of Maker to
the Bank, indudlntl the entire uetpaid p?lneipN of fhb Non and kayoed Intarast, INI any urwrnad Inttlreet and any IntenH h aitrlae of the ma[ allowed
by Iaw and any rebates required by law, shall Inrnetaahly or Ulargfter, st tNe optkxt of the except that the oeoewrena d! k! a ids shall caws somat-
ic scceNation; without notice or demertd, tteoorne dw and paysbb: la! the fauun of any Obligor to perform say obligatktn, liability or claim to the Bank. to pay -
intered Aeraon within 10dwe afar it is dw, a H ttlate 1. no dw des, after it b billed of odterwbe equated or dentrlded, err to pay any other IiaDility vrt[at•
:Dever to tM Bank when due: tbl the dwth of sty individual Obligor, the dissolution of ar[y ~Mtnership Obligor a the dissolution. merger or ooesolidetion with
ou[ tM Bank's prior writtah consent of any corpdrab Obligor; kt the filing of • petition Iw bankruptWl or the etquttkaNon of Inaolwr[cy or ttenkruptcy under
any reorganisation, arrangMnent, readjustment of dtabt, dissolution, liquidation or simile p~o~eading under any FederN or stets status, br or against arty
Ob~igw: (dI an appliption tW tIN appolntmant of a raleider tor, or tIN nYklrg M • genatN alti(~[eNtlt for t!N beMfit of creditors sty, any Obrigor; te) tM entry
of lodgment against any Obligor; If) tM issuing of ally ettaehr[tant or garnfshnsant, a the f8trtg of any lien, agaieat any property of any Oblpor; lg) fife skieg of
possession of any s„b.tantiN part ct fife p?opaty or Obligor at ttte ifletartoe cf any governmental audtaity: Its) the datermasation M d[e Bank that. maasri-
a1 adverN ehanga has acewgd M the flrtartalal tldfMNtlon Of any Obllpr ttom the loeedltiOlM set frtrUt )n file mat reeaflt flnulciN statanant d wdt Obligor
heretotae futnlshad t0 the Bank, or from the lOfldltf0n of suds Obligor as'hepatofoM shoat latently dbdoMd to the Bank, of that any warranty, representation,
certlf sari or ttatamMlt of aM? Obll/or Iwhattur aonitunad MAIN ii1d~M'~notl putaMing tb or M oOnlMetbn with this Nob or the loan widened bt? this Nos
canuilp sn untrw statalnlnt of fMatMlal fast df tlfNa tb tYaH materiM fact rteoselany in order to make tiM wtemata r[wN not mblaadilp: a, li) d[e assign-
ment by any Maker of any egrrlty M arty of the Ctlllatital without the pries written eoroa[t of the BantC:'
TM dank sf[all have, but shall not be linritad td, ttte /oflowing rights, each of which may be exercised at any time whether or not this Nola b dw: ii) to
Wedge a tanMs>r thN Nbh and tIN ObtitlarW Md dN ritlgt lfralf Nlafaupgfs ba rNMMd 1rf stl define and ralponllWlltiaa tNtauntNrsad rallav~d been any and Nl
Iiabillty with raspelK to any Collattl?N a pLdBed k Barrfetrad, and ru[y pled~ea or trulefarw ehlil nor au pur{wbs vend M the pleoi of tree 9~Itl[ hanurwier and
have aN the rtEhb el chi bank hMgundar; lhl to trtiprtar chi tyhela or sing part d tiN Collateral Mtn the iw[la d ibNt o? Ib nomtfiae; iiiij to orb Nw Collat~tN:`
tiv) ro notify the Obligors of any CollaterN to mNtb payment to des Bank of any alrsourtys dw err to beoorrla dw thereon: Ivl to demand. sw for. eolleeti«
~>.It. "~'c~ as used ~te"ireans' u~'r~e~°Ree~p1~ssoc~a~es
; tY`n~°"a
~/orOO~`~s a~
gf°r'n°
s:~.` °f
_
NOVICE: 8EE OTHER SIDE fOR IMPORTANT,INFORMATION BUTA~~~ •
crc r... 1171 ~ •