The URL can be used to link to this page

Home My WebLink About1235 1 - ~ ~ ~ ' INSTALLMENT PROMISSORY NQTE TURTLE REEF ASSOCIATES, INC. # IA? Amount Reaiwd :5400.00 BANK NAME IBI thentium for Gedlt none Jensen beach, Florida 33451 cif;/°a'blli"' I".. _ lcl pQcymatrt.ry st.trtpt = none OFFICE ADDRESS IDI Other Charges litsmbel = n0 e none NoT~ No. DATED: October 8, .19 79_ ~F~ = none OctOb@r Ll , , 19._ IGI Amount Firrarrced • ' DUE: g9 fA. 8, C, D, E. F) : 5~ ~ _ - IH1 Interest = 1 PLACE: , FLORIDA 111 Credit Investigation = lJl Other = For value rectrved, the undersigned (hereinafter ulNd "Maker") jointly and severally lit (K1 _ more than one) promises to pay to tM oieder of the Sank, at itt otfiq listed above, Total of Payments Itrom IN? at ?ight) of 1 ~720b • ~ Dollars payable in~0 = lLl _ . equal monthly installment: oft 20.10 ,the first IMI FINANCE CHARGE 180b.00 lH, 1, J. K, ll = .n:tsllment due on , 19_, and wbsequent installments dw on iNi toW of Paynrena lG + Mi Ob 0 the day of sack nwnth thereaf_t:.ito~the_ with a _FINAL BALLOfNd P_AY_MENT OF: ANNUAL PERCENTAQE 1~At~ % S f1Uf1C DUE , 19' 911e Bank shall impose a dNinqutncY charge agsirrst the Maker on any payment which Irat baconte due and_reteralm In default for ~serktd in ext;ea of 10 d n an amount equal to 5% of tM amount of tine principal part of the payment in default. In the event that the Nob K not paki in full at maturity, all pay- whether principal, interest or otherwise, shall bar intraett et the msxinrum IegN rate elktwed under the laws of tM Stab of Flade. All payments made hereunder shall bs uedited first to interest end then to principal, however, in tM event of default, the Bsnk may, in itt tole discretion, apply any payment to interest, principal and/or lawful charges then accrued. It a tM intention of the parties hereto that the provisions herein than Trot provide directly a indkectly for tM payment of s greater rate of interest or tM retention of any other clra?ge then b Nlowed by law. If. for any reason, Inttlrest M extxita of each legal reb a a charge prohibited by Isw shall at any time be paid, any such expss shall either constitub and be treated at • payment on tlt~ lutnclpal or be refunded directly ' to the Maku, The Maker may prepay the entire unpaid babtnce of the loan sd any tittle. II the Itran N prepaid In full, at:alaratad tx tallrrattced, the Maker than reglw a refund of the unearned portion of the interest and inwrance premiums computed by fife Rule of 1'8't method, exppt that tM Bank than pe entitled to Whin- a minimum interest chsrgt of 56.00. CREDIT LIFE AND CREDIT LIFE ~ DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such iroursna naversge h availsbk at tM cost designated below for the term of the credit: lal : fw Credit t.lie Insurand lbl S for Credit Life ~ Disability Inwranq: Check ? Credit Life Insurartee is desired on the life of Appl. Blrthdate Box ? Credit Life B Disability InwranCe is desired on Birthdste Credit life and/o. Disability Inwrance is not desired. oate_ October 8, 1979 S;gnet,,,e ~ g er--. - - Signature As security for the payment of the Note the Maker hereby grants to the Bank`s security irriarest in the fdlowirg propart Cond. I. Recorded on 0. R. Book 253. Page 2002... Unit Weeks ~1 and 5 in on + D-7,~pt. No. D-7, as described in sfsid librtgaQe. I I ~nclrrding all increases, substitutiorK, replacements, sdditiorrs mad accessions thereto and in the proceeds thereof (hereinafter ailed "Collateral"1-This security. ~nterat shell Nso secure any other indebtedness or liability of the Maker to the Bank direct or indirect, absolute or contingent, dw or to become dw, now ex- sting o? hereafter raising, including all future advances w loans by the Bank to the Maker. The Bsnk is also given a lien and s security interest in ell property and securities of the Maker, endorser, wrety, guraanto. w accommodation putt' of this 1 Note (hereinafter referred to as the "Obligori '1, now in or at any tune hereafter coming into the control, custody or possession of the Bank, whether for the ex- pressed purpose of beirq used (sy the Bank ss Collateral, or for any other purpose, and upon sml balance or haleness to the aedit of any accounts, including trust and agency snxounts maintained with the Bank by any of the Obligor, end tfre Obligors agree to deliver to the Bsnk additional Co1Nare1 or make such payments in reduction of the principal amount of the loan as shell be satisfactory to the Bank, in the event the aforementioned CollatuN shall decline in vslae o• become unsatisfactory to the Bank. ' ~ Additions to, reductions or exchanges of, a wbstitutiont for the Collateral, payments on account of this loan or increases of the same, or other.leins made ~ partially or wholly upon the Colgtuat, may from time to time be made without affecting the provisions of this Note. The 8snkshsll exercise reaonsble care in ; the custody and preservation of the CollatuN to the extent required by applicable statute, and sfrall be deemed to have exraciad reasonabb are if it takes fucti~ ± action for that purpose ss Maker shall ressorraWy request in writing, but no omission to do arty act fat requested by Maker shall be deemed a faGure to ee~~t~af f ~easonsWa care, and rro omission to comply with any request of Msku shall of itsNl be deemed a failure to exercise reasonable care. Bank shall not be bow~to carte any steps necessary to preserve any rights in tM Collstraal against prior parties shd Msku shell take all rreassray steps for such purposes. The BapR or its nominee read not collect interest on, or s principal of, any Cdlabrel or give any notice with respect to it. The Bank may continue to hokf any Collstersl deposited hueunder afro the payment of this NoM, if at the time of tM payment and disdrarge Mrgf any of , the panics liable for the payment hereof shall be then directly or contingently liable to the Bank ss Maker, endorser, wrety, guarantor of accOnrrrttodation party of any otMr rate, draft, bill of exchange, or other instrument, or otherwise, and the Bsnk may thueefter exercise all rights with respect to said Collateral granted herein oven though this Note shell have bean wrrerrdsred to the Maker. If the Bank deems itself insecure or upon the hspgning of any of the following events, each of which shall constitute a default, ell liabilities of each Maker to the Bank, including the entire unpaid principal of dtk Note and sccrwd interest, less any unearned inbrest and any intraat in expel of the rrrexirrrum Nkxrved by Isw and any rebates required by law, shall immediately Or thereafter, at the option of tine Bank, exppt that tfre occurrence of let or ldl shall carve automst- ~c acceleration:without notice ordemarrd, beoomedw end payable: ial the failure of any Oblgor to perform any obligation, liability or dairrr to.tt?e Bank, co pay ~ interest hereon within 10days after it is due, or if there it no due date, afro it is billed a otherwise requested or demanded, a to pay any other liability whst- soever to the Bank when dw; Ib1 the death of airy individual Obligor, the dissolution of arty psrtrrarship Obligor or tine dissolution, merger or oonsolidstionwith- out the Bank's gran written consent of snjr corpwab Obligor; icl the filing of a petition in bsnkrtrptey or tfre sdjudiption of iMOlvency or benkruptt:Y under any reorgsniiation, urarrgenrent, rgdjuttment of debt, diaolution, liquidation or similar proceeding order any FsduN o? ebb statute, by or against any Obligor; Id1 an application for tine appointmratt of a raoeiver fqr, w ~he making Ot s general aaigrxeMnt for the benefit of creditors bY, any Obligor; ld tM entry 1 of lodgment sgeirrst arty Obligor; If1 the iswirrg of arty attadrrrrsnt br garnishment, or tine filing of any lien, ageirrst any property of any OW Igor: lgl tM taking of ~ possession of any sutxtantiat part of tM property of any Obligor of tffe irrstertp of any governmental authority; Ih) fire determination br :Ile earrlt that a rrretrai- f al adverse change has occurred in the financial condition of any Obligor from the tonditiats set forth in the mat repot financial saament of each OWipr heretofo?a furnished to the Bsnk, or from tM condition of such Obligor as heretofore most repntty disdosed to the Bsnk, or that any warranty, repraaenation, certificates a statement of any Obligor (wlrethe. tontsirred iathb Note or not) pertaining to a in connection with this Note or tM loan evidnrpd btr thin Nap contains an umrw statement of material fact or omia to state matuiN fact nepstary in ordu to make the statements made not misleedirp; or, lil tM aasgn- , ment by erry Maker of any equity in aM? of tM Collateral without the pr's. wrinen consent of fire Bank. The Bank slrsll have, but shall not bs limited to, tM following rghp, aclt of which may be exercised at any time whathra or not this Nose b elves lil to pledge or transfa thh Note and tM ColtaterN and fire Bsnk shall thereupon be rNieved of all duties and retportsibilities lsereurrder and rNievd from arty and MI liability with respect to any Collateral so pledged or trarrsfened, and any pNdgae or transferee shall for aU purpoas stand in tM plea of rite Bank harwrtdu and hew all tM riphb of tfle Bank IterwrwMr; fill to trensfN the nllftole a any pen of the Collateral into tM name of itaeH or ib nominee; liti) to vtsb tM CoHsterel; (iv1 to notify tfte Obligors of any Collateral to mike psynMnt to tM Brark of any amounu dw or to becans tfw tMreoenog(tv~l to daanntytarptdr. wM for, edleet, a make any is pr tenlemertt it rabic with er to tM ColleterN apd Ivi) to qke poaas!s~igt/or 1 Ls °dgs 1 nat~ of CollabrM. ~NK as used ~ier ae~n means ~ur~e Reet Assdclates, 1nC. afl0 g NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION DlB1A~~•~ PA6E~l~e7V