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Home My WebLink About1256 . / ' ~ INSTALLMENT PROMISSORY' ROTE ~ 3 • . - TURTLE REEF ASSOCIATES, INC. * IAI Amount Repiwd = 5972.00 ttANK NAME 191 Premium for ~redlt none Jensen Beach, Florida 33457 - ~f'~D'"b""~'"'• _ ICI ooeuttantery Startpe : none OFFICE Ap RESS - 101 Other Chugq (itemltel = none IEI = none NoT~ No. DATED: September 23 , leZ~.. IFI none 1(31 Amount Finattted '~'i DuE: October 6 ;1989 IA, e, c, o, E, FI s 5912.00 PLACE: ,FLORIDA . III 'Credit (rrtresttption = For wive received, the undersigned (hereinafter ulkfd "Maker") Jointly and severally lit IJI Other = ,.;more than one) promise to pay to tM order of tM Bank, at its otlip listed above, tM ToW IKI _1-~~- of Payments (from lNl at rightl of ~~a284_~D Dollars payabN in _ egwl monthly installments of s J~85.70 , tM tint IMI FINANCE CHApOE 4312.00 rnspllrrant dw on ~OVE~lr 6 , 18~, and wbsegwnt insgllments due on IH, 1, J. K. LI _ • INI Total of thytrants IQ + M) _ the day of each awr?th therssf_ter:toBetMr with_ a _FINAL BA_LLOON_P_AYMENT OF: ANNUAL PERCENTAQE RATE ~ 9i S f10f1C OUE , 19 TM Bsnk shell impose a delinquency charge sgairtst tM Maker on any payment rvhld? hes becona daft end retttalro In default for • period in expo of 10 days in an amount equal to 5% o! tM amount of tM principal part of tM payment in default. In tM event that the Noq h not paid in full et maturity, all pay- ments, whether principal, interest or otMrwise, shall beer interest at the maximum legal me allowed under tM laws of the Staq of Flom. Alt paymanb made ttse~sunder shell be credited first to interest end then to principal, however, in the event of default, tM 9ertk may, in iq soN ditaetion, apply any payment to interest, principal andla lawtu~ charges tMn etxrued. It is tM intention of tM parties hereto that tM provisioM herNn shell not provide directly a indirectly the payment of a greater rate of interest or tM retention of any otMr charge then b allowed by law. It, tttr any reason, IntKest in ext:eee of such IegN rate a a rge prohibited by law shall at any time be paid, arty wch excess shall either constituq and be treated M a payment on tM princlpN tx be refunded directly to tM Maker. TM Maker may prepay tM entire unpaid bslutp of the loan st any tltrte. If the loch b pgpeld fn full, ekpltNeted or tellnanpd, tM IlMker shell receive a refund of tM unearned portion of the interest end inwrartp premiums computed by tM Rule of ~8's method, exppt that tM Bank shNl be entitled to spin- a minimum interest charge of ~6,0~. - CREOIT LIFE- AND CREDIT LIFE !k DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIt. Such imuranp coverage is available at tM cost designated below for tM term of the uedlt: lal = for Credit Llfe Inwnnp Ibl >i for Credit Life d~ Disability Inwranp: Check ? Credit life Inwrance is desired on tM life of Appl. Bir thdate Box ? I;redit Life 8 Disability Inwrance is desired on Birthdap . Credit life and/a Disability Inwrance is not desired. _ Date: September 23. 1919 Signature D rel Ba ett , Signature ~ - As security for tM payment of the Note tM Maker hereby grants to tM Ban s secwt m crest ~ (dlowing Woperh?:In Turtle Reef Cofld. I recorded in O.R. Book 263. Page 2002, Unit weeks 19 and 20 in Cond. D-20, Apt. No. D-20 { as described in said ItlDrtyage. mdudirg all increases, substitutions, replacements, additions end aaessions thereto and in the proceeds thereof (hereinafter called "Collateral"I. This security ~ interest sMll also secure any other inifebtednqu O? liability of tM Maker to the Bsnk direct a indirect, sbtolutt or contingent, dw a to become dw, now ex- ~stirtg a hereafter arising, including NI future advances a loans by tM Bank to the Maker. The Bank is also given a lien and s security interest in all property and securities of the Maker, endorser, wretY. guarantor a accommodation party of this Note hMreinafter referred to es tM "Obligors"1, now in a at any time hereafter coming into the control, custody a ponestion of the Bsnk, wMther for tM ex- pressed purpose of being used by tM Bank es Collateral, or for arty other purpose, arwf upon any balance or balanps to tM credit of any accounts, indtrdirg : trust and agency atxounts rrnintairted withtM Bsnk sty any of tM Obligors, and the Obligor agree to dNiwr to tM Bank additional Coflagral a rrtak~ such payments in reduction of tM principal amount of tM lost es shall be satisfactory to tM Bsnk, in tM event tM aforementioned Collateral shall decline in valve or became urtsatitisctay to tM Bsnk. . Additions to, reductions o? exchanges of, or wbstitutions for tM Collateral, payments on account of this loan a increases of tM tame, a oMer locos made partially a wlwlly upon tM Collateral, may from time to time be made without affecting the provisions of this Note. Ths! Bank shall exercise reasonable care in the custody end preservation of cM Collateral to the extent required by applicable statute, and shell be deemed to have exercised rasonabk care if it takes such aciron for that purpose es Maker shell reasonably request in writing, but no omission to do any act not requested by Maker shall be deemed a failure to exNCise reasonable pre, and no omission to comply with any request of Maka? shall of itself be dartted a fsilun to exercise reasonable cars. Bank sMll not to bound to take any steps nepssary to preserve any rights in tM Collateral against prig parties and Maker shall take all rapsssry steps fa such purposes. TM Bank or its nominee ntred not collect interest on, a a principal of, any Collateral or give any notice-with respect to it. The Bank may continue to hold any Collateral deposited Mreuttder after tM payment of this Plots, if at tM time of tM payment and discharge Mreof any of the parties liable for cM payment Mreof shall be then directly or contingently liable to tla Bank es Maker, endorser, wrety, guarantor a aocarttrnodacion party of any other note, draft, bill of exchange, a other instrument, a otherwise, and the Bank may thereafter exercise all rights with respect to said Colbte?al granted herein wen though this Nop shNl have been wrrertdered to tM Maker. ~ If tM Bank dams itsef insecure or upon tM happenitg of any of tM following events, esdt of which shall constitute a default, all liabilitws of each Maker to the Bsnk, including the entire unpaid principal of thin Non end accrued inprest, less any unearned interest end any interest fn expss M the maxutwm alkawed by law and any rebates required by law, shall irrtrrtediatNy or therafgr, at the option of tM Bank, exppt chat tM occurnnp of lei a Id1 shell cause wtomst- rc atxeleration;wirf?out notip Or demand, becomedW and payable: Ia1 tM failure of arty Obligor to perform any obligation, liability or dainrt to tM Bank, to pay is ~nteratt hereon within 10dayt after it is dw, a if there it no dw dap, otter it is billed a othenviae requested a darrtartded, a to pay any other liability vvitat• F soever to tM Bsnk when dw; IbJ tM death of any individual Qbligor, tM dissolution of any p?tnenhip Obligor a tM dissolution, merger or consolidation with- 1 y out the Bank's prior written consent of arty corporaq Obligor; Ie1 tM filing of s petition in bankruptcy a tM sdjudiption of insolvency a tankruptcy under any rewgsni:ation, arrartgerrant, resdjwtmant of debt, diaolution, liquidation a similar proaedirg under any FederN a sqq spruce, by or agNrr~t any Obligor, idl an application fa iM appointment of a repiver for, a tM making of a general saignment for Me benefit of creditors by, arrY Obligor; ld tM entry ai ludgmeni against any Oblige; Ifl rift! iswirtg of any maehmant a garnishment, a tM tiling of errY lien, against any property of krry Obligor; (g) tM glory of ~ possession of any wbstsntisl part of tM property of any Obligor at tfa irtttence of any gowrnnantal euthaity; Ihl tM determination by tM Bank that a rnteteri- al adverse change het occurred in the financial condition of any Obligor from the conditiarts set forth in tM most repot tinantiNsgtemant of such Obligor Heretofore furnished to tM Bank, or from tM condition of such Oblgor M heretofore ~t recently disdoMd to tM Bsnk, or that any warranty, repnsengtion, ce+rrficete a spterrant of any Obligor lwltetMr tonteined in thin Notoer not) ptuti~nilg to a in connection wiM This Noq or the loan wideeoed by this Noq cnnuiM an untrw tpterrant of material fact a omiq to spq material fact necessary in order ro make tM aptemsntt made not misleading; p, fit tM aaaigr+- mart by any Maker of any equity in any of tM Collateal without tM priorQQwritten consent of tM Bank. TM Bank shell Mw, but sMll not be limited to, ths~ov~e~,ri~, deh~vvhich may be exercised at om times whether a rat this Note is dw: lil to pbdge O? tnmfer this ftbp end tM Collateral end tM Bank atoll thereupon W relieved of all duties and responsibilities hereunder and relieved from any and MI liability with aspect to arty Collateral m Pledged w transferred, end any pledgee a tansfera shelf for all purposes trend in tM P~ of tM Bank Iterwrtder and haw all tM rlghq of tM Bsnk hereurwier; (iii to transfer rite vvhoN a any pen of tM Collateral into tM name of itaN or iri nomtinee; (fill to voq tM Coltapnl: (iv) to notify tM Oblpors of any Collateral to make payment to the Bank of any la~mountspdw or to tb~eeopnroe~dwuot~hereon; (qv) to dema~nprd, wse for, colNet, or make any con'4r ise p? aatrlemant it rra Qairable with fere~t~toyree~A5SOC1aL@S, 1nC. an0/or~LS °85579nos~de of Collateral. ' *'6~NK' as used Mere n means fur I {t cQC ,c^ n- NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION $ ~~1~f Ba~c~