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~ 1111STAlLMEl11'T PROMISSQAY HQT6~ L~
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tURTLE REEF ASSOCIATES, INC. * w Amount M.atied ! ' T102.60 ~ -
N roll 1111 fRemlum fe Credit ' nOnB
Jensen Nnech, Floridis 33457 ufE/W1Ehflltl< Iltt: !
Ict boalMMltarti rwnw ~ ` 1""F~~`
_ _ t01 Otltar ChIrSN utanded ~
August ~ 25 . 79 ~'Ab~te
p10Tk NO. bAtEb: .19..._.. 1~ l~On@~~
. Septefflber '6 ~ • 89 !a Alnouftt aln.nad 7102.00
- IHI InterNt !
PLACE: . FLORIf?A- 111 bredk IlwEetlgetlaii t
lJl OthEr !
For wive received, tM urtdersigrtad (hertainafter cNNd "Maker"1 lointiy and severally ht IKI -
mee tl+an or~.l proms to pay to tl» qrdK o! tM Wtdc, at tb office tbtad above, tM ToW
of ftaymena. troth iNl at_tightl of il~2E~29.20 tiohertpiyabM In 120 ~ IU
•awl tnonMly IfMtaitntNttt of ! ~O1-91 - tllE Illtt hull NI~u1 II~RL~Ahdt ! 5127.20
Irotallrrtent dw on_.._.,,_pCtp~.,6,~,.._. tg..,~., t~+til wbiegwnt Intalhttenb flue on IN! tttfal of wlrffnittt io ~ M1 !1~ .
tM..~sy of M tltsreaf~t*i~to~etltK with: FINAL BALLOON P/~YMENt OFe" ANIIIUAL I~ACdNtAOE AATIE •0
the link tile!! unpaee . tiejltwtleney charge agelntt file Maker an any paylnaMt Nlllbh hM bealnE.tlua and NM+aJnt IM ttafWlt lot • pErlod M axle
jtt of i0
days to an amount tt;ual tb R% of file amount of the princ4sal part of file payttNnt In dalwlt. hl #IN twEnt that the NINE b not gab In fWl at ttntut'by. all pay.
myna. whether prlttellfal, uttt><at aK athatwbe, atah bEir rntENst at the nwtununt (Iwl tab alloNEd tMdEr live jaMle of the tltEta of tslwi~l. Ali ppa'
~tttett~ ntstN '
herwnder shalt be credited t to interest and than to principal, however In tM event of tlefauit, the dNth Meltr N Ib tph diletE/lore, apply anti payment to
intt?rest. pritWStpal ahd/a. ktwful ehargK thin stxrud. tt b lire IntMttipt o~ tk1 pattiM hE?ato that the ~re~anl harEln Mtatl 1wt p?twlde tthEetlT or tttdlnctltr
(e the payment of a grwtN nb of Interen or tfta rateMlon of any othEr eharrE then b Ellewgd tN law. f; Iw alw taQEll. lnNrEtt In ExeM1 of Rleh +aae+ rate a
a dterga prohibited by law shalt at any time be pain. any loch axoest fltail aher txMtttttutE afwi b ttEaMd M a phrfnant Ifn the ptlflehfal Et ba reftlf:dEd dltECtlt?-`
to fly MakEr. - - _ . , . ~
the MEkMt !pair pMpal? d+E t~+tttE ufywld bllAuten W ells Mall at ling Wna. II !h1 IwM a pMIWd h Wq, agtwNlratld at.Mllwlle~d, tllg Alakat tllrNl tEeMrE
1 N ref and bf file uneerrtsd portion of the intarett attd IttsutattoE prefftNurlt eotnptlbd by tIN MuIE of 1r'1 rnElltod, UtBpt lhM the rash (hall pE fintltled to pain'
htarat lFta?~ of sl~.W. _
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LICE ANd CgEblt CIF! A blSAbfLItY t1~UgANGE AfiE VOLUNtAgY ANd Nbt I14a11M~b poM CNEhtt. rudt inw?atte. t~wt.o• h
availdlle at the eat tNtidltittrd below for file IerM of tM etadk: lal ! fW tAEdlf LMa ~fltUtanEE Ibl !
for Credh Uh d Wubiilty Irtturartca:
Check ? Gadit life~rtwrarta Is desired on tM Ith of
ApW. - - - ~+?Mdab -
Box ? Gedlt Lt}. A Glsablhty Inwrand b dalnd on
tllrthdeN
Credit t.lh spells OisatriUty htsurattee b not desired.
t)ste: Q ~ August 25, 1979 tilgneture •
_ clines
. !>wliatuw
As security for tM payment of the Note the Maker herNty grape to file fie a tecttr ty In In the Idlowlrq prtllNrtll: in Turtlf*..Reef
Cat1~. h RECOtoded on n. R. ~+k 2b3; Pig! ~nn2„, (trait
tt~isa?ke 2a and S ~n Cend_ D-13,~
ARt-!+n: D-.L~,_as ~escr_i.bed
in_said..mnr_tgaga -
mctudine all inueatet, substitutioro, raWeeerrtents, addition and aooession thereto snd in the proceeds thereof Ihereirtaftar felled "Collateral"1. This security
ineereft :hall sho setwre any othp irdebtadnpt a IlaWllty of the Maker to the Balk direct a tndireet, absolute a cotttingent, dw err to beeane dw, now ex-
isting a herpttsr srisittg, `ndudirg ail future advartop or loans try the Balk to the fulaker. - ~ tt
The (lank is also given a lien and a security interact in all property and securities of the Maker, ertdorsar, surety, guarantor or aeeontntod:tion perry of this
Note (hareirtafta referred to ss the "OWiEors"1, now M or~at any tints haraafur oonMtt~ into Me t~ntrol, ewtady or popapion of the flank, whether for tM ex-
pressed purpose of being used sty the Bank as Collaunl, a for any other purpota, and upon any txtlartes a 6alanoas to tM credit of any aocotrntc, irtcltrdirtg
crust and apatc!? atxwunts rrteintsirtad withtlte Bank by any of tM Obiigore, and file Obligor agree to deliver to tM flank additional Co?bterel a make such
paymiptts in reduction of the principal amount of tM loan as tits!! be saicfactory to the Bank, in the event the aforerrtantiorted Collateral shall dedirte in valve
or biEonr urtatbfactory to the 8snk. -
Additioro to, reduction a exchange of, a subctltution (e the Collateral, psymena on aotxwnt of Mb lose a itttreseet of the serna, a other Irons meda
partially a wholly upon tM Collateral, may from tints to tints be made without affeetirq file provitlortt of Mls Note. The Bank efts!! exercise reasonable pre in
the custody snd prpawtion of tM Collsmal to use extent required by applicable ststua, snd shNl be dnrrtad to haw exercaed raponabb pre if k take even ~
action for that purpow p Maker shall rpsortebly regtrast in writirq, but no onMssion to do any set not nqupnd by Msker Mall be deemed a failure co etrercas '
reasonable pre, srd no omistiet to comply with any reyuett of Maker shall of itatlf ba daarrtad • faNure to exercise reportable pre. Bank shall not be bound to
take spy steps naastary to preMrvs any righq in the Collateral agdrot prior partip and MMear shall take all rteoepary tape for suds purpowt. The Bank or its
nominee need not eolktet tnterast on, e • principal of, any Colbterel or Alva any notia.wiM respect to k.
The Bank msy corttinw to hold any Collateral depoeltsd ftsrwrder after the paymatt of this Noe, ii at file tlrrte of the pptrtene and discharge Mraof any of
file partiq liable fe tM payment hereof shalt be than diraeth/ or togtirtgenthtrbWa to tM Bank ere Melcer, endorser. surety. gtwante a aooorrwnodation party
of any other note. draft, bill of exdthrtaa, a oMer itutrtttrter~t, or oMarwise; and the Bank my thsrafter exertdee all righa with rppset to said CotlaarN
grsntad herein even though the Noe shah haw baett wrrertdtrsd tb tM Maker. '
If the Bank deems itsNf iruaeura a upon the happaning of arty of the fetlkxMtp.wna, Eadt of esltkh flail oortttltua a dafaWt, elf IlaWikip of each Maker tti
the Bank. including tM~entke unpaid principal sd fhb Noe ttnd atxrtlad ltttarpt, NM any unernad InMnet and any Inaratt In axt:ese of the naxYtttfrn a0owed~
by law and any rebates required by law, thali brrcladiaWy a Msraafbr, st the aptbn of the BNtic, except that the oecwrartoe of lei a ldl shall saute automat .
ie aoaleration: without notice a dsntsrtd, ttaoottt. riot attd payable: lal file faUun of any Oblgor to perfem any oblf{Mtfon, IbWltty a dsim to file Bank, to payJ
interest hereon within 10daye after it K dw, e N Mara ie no dw dace, after it b billed a otherwbs regweted a danwtded, a to pay any slier NM?ility what-J
soevar to tM Bank when dw; lbl tfte desM of any individual Obligor, the diMOfution of arty ftertrtership Obligor err the dissolution. rtrrger a oosaolidation vvith•
out the Bsnk's prior written tonsatt of arty eorporatE Oblige: (c) uts filing of • petition In bankruptcy a tla atfjtrdiauon of irot>fwlfty or bankruptcy urtdar
soy rerxgsnitstion, arnrtgntteet, readjustment of dtbt, dissolutoA, liquidation err similar proossdrtp tinder spy fydaral a sea statute, by or agsirtsc any
Oblge; ld) an application fe file appointment Of • receiver fp?, a ttw rrtskirtg of • genes! wigrtrttent fe uta ttertetit of t:reditas by, any Obligor; lei tM entry
of ludgrttent sgeinct arty Obligor: If1 tfa itwirg of any attachmettt a gunbhrrtatt.or the filiagaf-any lien, against any property Of any Obligor: igt tM king of
possession of any wbetantiel part of use property of irMr Oblige st tfta irtstsrtoa of any ~orarrtnprttsl authority; thl the dsterrrtirtation bypte~e at a - -
al adwrp obertga hat occurred in the flnarteW OdlidltloA Of any Obligor from the txtndkiatt set forth M tltE frtott recant tlttettclM sa~imetlt ObNgor
heretofore ftjrniMted to tM flank, a from the cortdttion of suds Obligor st IaratoforE enott reeantll? dMdoeed to tta Bank. a that arty warrarttt?, r goon,
cartificau or tatalrrtEnt of afar OWjge? ltNhathM EOntalned In fhb NoN err ttott pErtalNtq to tx M t:ottltn.Hlon wiM Mrs Noe a the loan avidenatl thi: Nob
contairo an urttrw t4temMt of fwtarbl faM of flfnlb tb taM ntetMlN fact rteastary In edtr to ttteke file ttaternuta made not midM/,,~~q: a, l the sesigrt-
ment by any Maka? of any equity in arty of-the f',tlllanral without the prior written eotaertt of the Bertk. ~
TM Bank shell hew, but shall not be (irrlited t0, tIN lollowirq rigtttr, each of wh~1t may be exeresed st arty time whether or-not t~ty hfoM is due: lit co
Wedge or tnlrfar Mb NOta attd t1N COltetarN afld tIN till!!! fllE(j.~ifipolt ba ?Nbv~d aN dutiM btd nitpomlbltitlet fNreundMstd rNiaved from arty snd all
liabiltty with respect to arty Collateral so pledged 0? ttattNrnd. and any f+ladMa a tile!! far all ptffptiwt ttsnd M the place of the rsnk ftarswtdsr and
hares aU the rl~lb of tfN !lank INraufldEr; l ll) to ttafltter tllE ttAlaM err any part of df~ Collsdnl alto the narla of ktMlf or Its rtorrtirtee; IUiI to roe titre Colim.al;
liv) to notify tM Obligor of any Collaterel to make paymartt to tfN Bank of spy amounts dw a to become due tlteraon; Irl to dentsrtd, sue tor, collect, e
make any aa~~K~ act U5n@It i~e"r'e~n m`~eans u'~
r~etORee~°`~SSO'c~a~es; `fi`n an ~r00~`~s es'~s'i°gn°
s:d` °f Co1""r~' -
NOTICff: SE6 OTHER 81DE FOR IMPORTANT,INFORMATION ^ ~tf'v~~~~ ~