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INSTALLMENT PROMiSSORIf NOTE = Hl
TURTLE REEF ASSOCIATES, INC. * tai Amount Rar~.ly.d : 7,36-eo
NAM Isl Prerttitam for`f;redit none
Jensen beach, Florida 33457 Lite/DitebNity Ir», f
j Ica Dowftrturtary stt?rttps - = none
ot= ICE ADDRESS _ . ~ a lo? Oehtr Charger littrrrii.) : none
none
NOTE No. DATED: August 30, ,19 79 , IF) = none
131 Amount Finarrad 7436.00
ouE• - Septeeber 11 ,18 89 . iw, s. c. D. E, F? s -
IH!-,Ingrtet t
PLACE: , FlOA10A 111 'Credit tnvatigation =
1.11 Otha i
Fa vettat reaiwd, tM undasigrrtd Ilraeirrafter a1Nd "Maker"1lointly end ttwrally (if 1K1
mtxe than orre) promiae,to pay to tM adtr of tM 8srtk, at its offip listed above, tla Toth
sl $Q5 QQ Ool4rt psyabie in ~s~ IU ~ _
of Paymanei (from IN? at right) e~ •
.quN monthly irrstNlfngtts ot: 106.Y1 , tM tint lMi FINANCE CHARQE _ 5~9,
OCt- 11 - ,18_~ and subttgtaetrt itrsWlrrrents dw ari Ill, 1, J. K, LI '
arggllmMt dw on ~ INl ToW of Payments lf3 + M) 8
dra~ of-aarbOwetth tMrethar wrth • FINAL BALLOON PAYMENT Of~ ' . .
f --L~O~~=------------~------19,- - ANNUAL"PERCENTAGE RATE li
_ -DUE
TM Bank shall irripoit a dNitrquentY charge agsirrct tlra MNtar on any psymant which has become due and rerttaint in defwlt for a period in exotw o 10
days in sn amount tquaF to S'X of the amount of tM principal part of the psymq?t in dNwlt. In tM went that tM Noq itinot paid in full st rmturity, tl(I~y
manta, whether principal,.intarast or otherwise, shall boar interest at tM maximum legal rant Mowed under tM taws of the Stag of Florida. Ali psyrntn
herwnder shell ere aedit~d first to interact and then to' prirtdpN, hawwr, in tM went of defwlt, the Bank may, in hs toN diteretion, apply any pit to
interest, prirrtisaN and/a lawful dwga then soaruad. It s the intw?tior~ of tM parties hereto that tM provisions herein than rat provide directly or irtctly
for 1M payment of s greater rate of interest or tM mention of any other charge than is Mowed by Isw. If, for any reason, interest in exact of loch Ipd nq a
a charge prohibited by law shNl at soy time be paid, any sud? exetct than Nthtr eottstituq and bt treated at a paynrart on tM principal or W refunded directly
to tM tNNur.
The Maker may prepay rift entire unpaid balara of the loan st any trine. tt the loco s prptid M full, scalersted a rtfinarrad, tM AAaker shNl receive a
refund of the unarnd portion of tM interest and inwnnce piemiwrrs computed by cM Rule of ~8's method, except that tM Bsnk shNl ba entitNd to ntsin
a minimum interest tharpe of 56.00.
CREDIT LIFE AND Cr1EDIT LIFE 8 DISABILITY INSURANCE_ARE VOLUNTARY. ANO NOT REQUIRED FOR CREDIT. Such instarana coversge is
swilabte at the tat designated below for the term of the credit: {sit for Credit LHe Irtwrsna lb1 t
for Gedit Lih 8 Disability Inwrarrot:
Check ? Gedit Life Inwrsnce is desired on the life of _
APPI. - ~ Birthdate _
Box ? Gedit life !4 Disability lnsurarrce is desired on - ~ -
Birthdate
t.~ Credit Life end/or Disability Insurance is not desired.
Date: August 30, 1979 signsture ~I~df+v s~~E~'!/1,la/
n R. Norris
Sgnstun - ~ '
A: security for the psyrrrsnt of the Not. the Maker irsr grants to ttrt Bank tecw~ inter rn al i pr n urt e
-Coed I , Recorded on~. R. Book 2~3, Pam ~~02... ~°t ~ee`~s an n
Cored D-20a Aet_ ND_ D-20. as described in iid nlortaaae.
inctudirg all increstet, wbttitutwnt, rtplsarrrents, additions and sotetsiorK thereto end in the praceadt tlrertof (hereinafter p11W "Collateral"1. Tha security
interest shell also secure soy other irrdebttdnKS or liability of the Maker to the Bank director indirect, sbsoluq or contingent, dw a to become dw, now tx-
taring or Mrsafter erisirrg, inducting all future adwrras a loans by the Bank to the Maker.
The 6+nk it Nso given's liar and a security interest in ell poperty and securities of the Maker, errdorser, suety, guarsntor or accommodation party of this
Note IMninaher referred. to ss the "Obligor"1, now in or at any time hereafter coming into the control, ctastody a possession of the Bsnk, wMtMr for the ex-
pressad purpose of being used by the Bank at ColtsttrN, or for soy other purpose, and upon soy bNarce or bslaras to tM uedit of any aecountt, includirrg
gust end sgeney acoounr maintained withtltt Bank by any of tM Obligor, end the Obligors spree to dNiver to the Bsnk additional CollaterN or make itadr
payments in reduction of the principal smount of the loan ss slrsll bt satisixtory to the Bank, in the avant the sforementioraed ColbterN shall dedine in value
a become urasatisfaetory to the Bank. - -
Additiorat to, .eductiorrs or exdrarrges oi, or aubttitutions for the CollsterN, payments on account of this loan or inrxeaes of the same. or other iosa made
partially a wholly upon tM CotlsterN, may from time to time be made without sifectirg the provisions of this Note. TM BsnkdrNl exercise reswnabN pre in
the wstody end preservation of the CollaterN to the extent required by applipble:tanrta, end drNl bt detnred to have exercised reasonable ore it it takes each
xtion fa that purger a Maker droll reasonably request in writing, but no omission to do soy xt-not raquesgd by Maker d?all be deemed a /adore to exercise
ressonabit pre, and no. omiaion to comply with soy rpuest Of Maker shall o/ itsNf be deemed a failure to exercise reasonable pre. Bank shall rat De bound to - -
take soy steps rrepaary to prgerw any rights in tM CollaterN agairrst prior parties and Msker shsN take NI necessary steps for such purpasts. The Bank or its
nominee read not collect interest on, w s prirrcipN ot, any Ccllagnl or give soy notice,with aspect to it. -
TM Bank may contirwe to hold soy CollaterN dtpaitad herwnder after the payment of this Noq, if at tM time of tM payment erect disdrargt hereof soy of ,
the parties liable for the Payment f tha)fba t' ~reetb or oontirrgantly liable to the Bank st MNur, erdastr, surety, guersntor or aooorrdraodation psrty ~
of soy other noq, dratt, bill of t~
~pT~Q~~~t, or otherwise. and lire Bank may iherpfter exercae all rphtt with respect to said CollaterN ~
grsnted herein awn though this ftioq shell hew barn wrrerrdered to tM MNcer. .
If tM Bank deems itself ingcurt O? upon tM Inppening of soy of tM following ewnu, tads' of whid? shell constitute s dNault, NI liabilities of each Maker to
the Bank, inttudirp tM entire unpaid prirrcipN of this Noq and socrwd ingrsct, Itss afftt tarresrnwf interest-end soy interest in exogt of the rrrtatirrttarrt Mowed
by taw and any rebates required by law. drNl irrrnedbgly or iheresfter, at tfieyptioli tlb~ire Bartle, except that the oocurrerta of lel a ld1 droll cause wtamst-
ic acalention;without ratios or darrrartd, beoonra dw and payable: la1 the fs
kue of any Obliges to pertain snY obligation, liability or claim to tM Bank, to pay
interest Mrson within 10dsys after it it dw, a H there tt no dw dsq, afar it is billed a odterwise nquetted a dernatded, a to pay any other liability whst-
soever to the Bank vrtrtn dot: !b1 the loth of any irrdrvidual Obligor, tiro dissolution of any ptrtrrership Oblige or tM diaokation, merger or lion with
out tM Bank's praor written content of any tOrporaq Obligor; Ic1 the filing of a petition in bankruptcy or the sdjudiation of insolvwrry or.ban sty under
soy reorgarrizstion, errangarrrent, reedjustnrent of-debt, dissolution, liquidation or similar proctading under aril FederN a sqq sgtuq, by of any
Obligor; Idl an appliation for tM appointnrart of • receiver for, or t)rt rrtakirq of s generN assignrnsnt for the berrafit of utditors by, arry Obliggr; le ~tM entry
of judgment sgsirrst any Obligor; (f) lift aaairq of any attachmart a garnishment, a the fAirq of soy litre, agsirat any property of arty Obligor: lgl the ttkirrg o1
possession Of any substantial part of 1M property of soy Obligor st tM irtttartoa of arry governnrtntN wthority: Ih! tM determinstion by tM Bank IMt 1 maMri-
al adverse drsrrga hat occurred in tM finerreial corrditibtr Of any Oblpor from 8rt oonditiorrs sat forth in the mat recent (irrarttiaf-sgtunrattt of sw:h Oblgor
heretofore tumidred to the Bsnk, a from tM condition of tueh Obligor at heretofore mat raarrtly dicdosad to tM Bartk, or that any vsarrsntY. teprtnntstiarti
certificaq Or sgtematt of any Oblgor (taltetirar oontairrad in this Noq a not) pergirring to a in eonntetion with the Now or tM loaf evidnroed by this Noe 's
conuint sn untrue sgtemartt of materiel fact or ornitt to tqq material fact neasriary in order to rrrak! the tgtanaru made not mialMdin/; or, lil the assign-
ment by any Maker of any equity in soy of tM CollagrN without tM prior writterr corasnt of the Bank, . _ - -
Ttrs Bank shall hew, but droll not be limited to, tM following rights, each Of which Wray be eatercised at any tint wlrtthpr or. not this No» is dw: lil to
pledge of tarrthr this Noq and the ColggrN and tf?e 8artk shell drertuiwn be rNitved of NI duties and rttpomibllitip Maunder and relieved from any and all
fisbility with retptet to any CollaterN so pltdgad or tnnttttrrtd, and any pltdgtt a tramterae droll fa all purpoMt stand in tM plxe of the Bank htrwrrder and
hew sN tM rights of tM Bsfrk frereurtdar: liil to trantder tM wAoN a any patrt of the CdlsterN into tM name of itself a its naninee; (iii) to vofr tltt t`gllagrai:
liv) to notify tM Obligors of any CollaterN to make psymart to tM Bank of amr smourttt dq onto beoonr dw thereon; iv1 to dtnrsnd,.ttrt for. collect. err •
make any O°'^4i ~ settltmtnt with far to the ~,ol terN; aQd t~ to terse po atiq+ or of of orateds of CollattrN.
* INK as use ?~er`e~n
alneans ~ur~e ReeTl Assoc ales, 1nC, nO/or00~~s as~sigas.
' NOTICE: SEE OTHER SLOE FOR IMPORTANT INFORMATION - ~ ~ '
Fes ~sz aw. A!iRK tli~ Pa[;F~