HomeMy WebLinkAbout2199 ~ ~ INSTALLMENT PROMISSORY NOTE
TURTLE REEF ASSOCIATES, INC. ~ w Amount Reaiwal = 577,•40
r ~ Isi Prerrtiurn for c~.dit none .
Jensen Beach, Florida 33457 uh/aaab+uty Irte. :
(Cl Doeunrnury Stantpa ~ = none
. Fte a IDl other Chsrga~ (itemizel : none
- Ifel : none -
NoTI: Mo.: a?YEa Ausu><t 17. ]47Q . Is 1~ = none
(G) Amount Finirtcad 6~~•~~
ot1E• StPtember 1..1989. . ~s IA, B, c. D, F) s
ItA Interea t
PLACE: - .FLORIDA 111 Credit Invastigttion =
u1 Dear t .
for vattte nc~ivad, tM undersigrad fherainattar cNted "Maker"1 jointly and sawrstly lit IKI _
more thM Qne),prontiae to~ t0 tM order at its office laced shove, tM "~'r~~
of Payrrnnes (from INi at ? t) of j 1 ~ , Oo1Nrs payaule in ~ ~U
aqua; monMly irlttNlrrtent: of i 97: ~ - ,the first (Mf FINANCE CHARGE . ~
inatallrrteet dw on OCt.O~eM 1 , 19~, and strbsegtrent inswlrrant: dw on IH,1, J, K. ll t
IN1 ToW of Payments lG + M) = 11 _686. Sa
tM ---diyotiaeA~wnththandtai~o~tharwithEfINALBAILOONPAYMENTOF: - /~~(~CPERCENTAGE RATE 12-Cd -
: flVfl ~E -----19: -
TM Bgtk shah impop s dNinquertcY dutrge sgeimt tM Maker on any payment vrhieh Iles baoorra dw and remains in dNault fp a period in axgels Of t0
days in ari amount equal to 5% of tM antottnt of tM principal part of tM paymartt in default. In tM event tMt tM Nou is not paid-in full at msttarity. aM pay-
ments, nrDetMr.principal, interest or otherwia, sMll bear interest at tM maximum legal rata albwed under tM laws of tM Stau of Flo.ida. AU psynanu inatfa
herwitd~r sMN bt cnditad first to intarea and tMn to prirtdpal, however. in tM avant of defaun. the bank may. in its soN daaation, aPPIY any payrrte~t to
interest, prineiPel and/or lawful dirges then accrued. It a tM Murttion of des psrtia hereto that tM provaions larein altslt not provide directly ar tndiacely
tor- tM-gymant of s grater rate of intana or tM retention of any other Ntsrg? than a albwad by law. Ii, for any reason, interest in axpN of aticA legal rap a
s cl+ar~e proltrbitad by Isw shall at any time be paid. any suds excess shall aitlter oonstituta and be traaad a< a psynant on tM principal or be.rsfufidad directly .
to tM MNcar: -
TM Makaimay prepay tM satin unpaid balartoe of tM loan at any time. If the loan a prepaid in fuN, aoaNrated or .rafinartod, tl+e Maker shalt receive a .
refund of tM unwrtad ponion of tM interest and imtrrartca premwrms conputed by the Ruh of 78's method, except that tM Bank shah ba amitkrd to ngiit
a rrtinirntrm it~rest rltatge of x.00. ~
CREOtT LIFE AND CREDIT LIFE R DISABIt.ITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such irowanot txwaiaoa is
awitabla at tM oat desigratad bNow fa the term of tM audit: W t for Credit Lice Insurance Ib1 S
for Gadit uh a Disability Inwrance:
Chock - ? Credit Life Irtsursna is desired on the tiff of -
Appt. eirthdate
Box ? Credit lice i! Disability Insurance a desired on
~--yy Bathdata
l.f Credit Life sndla Oaability Insursrtce is not desired. ' .1
Date: Au9nSt 17, 1979 sigrawre l- f
-C/
y r.
siynitur(i -~'s'
I: aaveri f f'Qet7 7 fI V•~
~M ~t~R~ LO3 ~ ~`~b"i Unit Meeks 34 an~dt`3~l i
n ~o
do ~ ~~~1 a _Reef. Condp
as des, _ -
~ncludirg all inereeses, substitutions, nplsarrt.nu, additions and accessions thereto and in tM progeds thereof Il+ereirtatter called ''Collateral"1. This severity
interest sMlt also seven any other indebtedness or liability of the Maker to tM hank direct or indinef, abwlu» or contingsm, due or to become dw, noGr ax-
istirg or IarNttM arising, indudirg all future advances W lotus by tM Bank to tM Make.
Tha Bank it also given ~a lien and a severity interest in all property and securities of tM Mskei, ertdoretr, surety, gueranta or accannwdatan party of the
Note (Mraataftar referred to es tM "OWigors"!, now in or at any time hereafter coming into.Ete control, Custody or possession of tM flank, wMthar for the ax-
presu0 ptrrpoa d beatg used by tM Bank as Col4twal, or for any other purpose. and upon t~ belana or balattcea to tM vadit of any etxounq, indudinp
trust arw agency aooounts maintained withtM Bank by arty of tM Obligors, and tM Obligors sgra to dNiwr to tM 8snk additional CollaurM or make tueb
paymertn in gduction of tM principal amount of eM loan es shall be satisfsetory to the Bank, in tM avem the aiorarrantiorted Collaunl altall dadira in wlue
or beeorra wtsatisfaetory to tM Bank. .
Additions to, nductiora or exchanges oi, or substitutions for tM Collateral. payments on account of this-loan or increases of tM pros. w ocher loans made
partially or wholly upon the Collateral, may from time t0 time be made without s/fecting the provaiom of the Note. TM Bankshstl exercise raaeonabN era in
the custody and preservation of tM Collatarsl to tM extant required by appfirsble statute, and shall be darntid to have exarciad raesorabN can if it takes etrch
action to!t6at ptrrpoee es Maker sMll reesonnebly regwtt in writing, but no omission to do any act not nquesud by Maker eheil be desnad a /aiun to exercise
reasonable earl, and rw omission to comply with any ngwst of f1AAakei sMll of ittali be deemed a failure to t+xs+cisf r~ssonabN can: Bank dtslf not be bound to
take any sups neoestsry to preserve any rphu in tM Collateral apeiret prior parties and Maker shMl take Nl rtacessary asps for such purposes. rtM Bent or its
nominee Head not t:ollat:t interest on, or a principal of, any Col4tarsl a give any notioe.with respect to it.
TM 8snk may continw to hoW any CdlaurM depoated hereunder after tM payment of the Note, if st tM time of the payment and daeharga hereof any of
fife parries IabN for tM payment hereof shall be than dinetly a contingently liable to tM Bank as Maker, endorser. suety. guersntor or aaorrrrwdation party
of any other note, draft, bill of exchange, or other atarum.rtt, a otltarwia, and tM Bank may tltereafbr exareiw all rphts with respect to said Colawal
granted herein even though this Nou ahaN have bean surnrtdered to the Make.. - .
if the Bank darts itself insacun o? upon the ltappenirtg of any of tM following ewna, each of which shall constitute a default, all liabilities of eaeA Maker to
the Bank, irtdudinq the entire unpaid principal of this Noce and atxrtred interea, leaf any unearned intaraa and any interest in axr:ast of tM maxanunt Nbwad
by Ianr and any rebates nquirsd by law, shall intrradataly o? iharestter, st the option of the Bank, except that tM ooverrance of Ic1 or Idl tMH cause automat-
ic aocefention; without notice Or demand, baOOrrta dw and paysbN: Id tM fa"lun of any Oblgor to perform any obligation, liability or dean to tM Bank. to pay
interest ltanOn within 10deYS after it is dw, or H than is rto dw dace, afar it is billed Or otharwia ragtastad or dantartded, Or to pay any other liability what- -
soewr to tM Bank when dw: fbl eM dash of arty individual Oblgor, the dissolution of any partrtsrship Obliges a tM diswlution, nargaroroonsoliritionwitla
out tM Bank's prior written eornent of any corporau Obliges; Ici tM filing of a petition in bankruptcy or tht adjudication of irtsolvertcy a bankruptcy under
any reorganization. snartgsrram, readjustment oil debt, dasolution, liquidation or tartilar prrxaaadirg trrtder any Fadaal or stst~ amts, by or agaast any
Obligor; Id1 an application for the appdntmartt of a repivar tqr, or tM making of a gateral assignment for tM benefit of creditors sty, soy Obliges; lel tM entry
of ludgntant against any Obligor: Ill tM ipuirg of any attadnant a garrtisltrtant, or tM tiling of any lien, against any properhr of any Obligor; Igl tM takag of
possession of any strbstantisl part of tM property of any Obligor at the instance of any gowrnnantel authority: lh1 fig datarmirtetion M tM Bank that a nsesari-
al adverse large Ica ocGrrnd in tM tirtarteiN condition of any Obligor from tM oorxfitiors eat forth in tM mace recent firtaneial aaanant of each Obfigo?
heretofore furnisltad to tM Bank, or from tM egtdition of suds Oblipor•at tantofare most recently d'adoead to she Bank, or that any wanartty, repraaangtion,
certificate or statement of any OWigo? (whether oonuirtad in this No» a notl pertaining to or in connection vviNt this Nou or tM loco evidartead by dta Noce
contains an umrw statematt of material tact a ontitt to eau rratarial fact rtecesaary in order to naka tM statement: ntada not mialadatg; or, lil tM aaspn-
ment by any Maker of any equity in any d tM Collau?N without tM pr"tor written eoment of tM Bank.
TM Bank sfa11 haw, but shall not ba limited to, tM tolbwirq righu, each of whidt may ba exercised at arty tarts vvfatMr a riot this NoM is dw: Ill to
pledge or tnrstar this Note and tM Collateral and tM Bartle Ball darattport be relieved of ail duties and rasporsibilities larevrtder and relieved ham any and ell
liability with respect t0 any Collateral m pktrlgad or traetsfarred, and any pledgee or tnrehrN dtall to. aH purpoeas stand M tM plea of tM Bank Hounder and
haw aN tM rights of. the Bank Itaraurtdar: (fi) co tratefer the wlaM a soy part of tM Collaural into tM Meta of itsaM or iu nomiraa: (iiil to vote the Collagal;
liv) to notify tM Oblgas of any Colgtanl to make paymam to.tM Eantk of any sm~oulmaa~dwt or to b~ecooeptta duce daraat: (tv~) to demand. w for, eolNet, o.
m~a am? 'NK~ ast"use~` Mere n means uet~Ree~
sA soclaces; `1nC0e an~~r`O;LS aasS~ign°s:°` ~
NOTICE: SEE OTHER SIDE FOR IMYORTAttiT.INFORMATION
BOOe~~ PA6E2~~
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