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• . , INSTALMENT PROMISSORY NQIE~ } ,
TURTLES REEF ASSOCIATE.,, INC. * ~ IAI AitttiYM IteaMd ~ 4040.00
Id1 Itr~rtWtm fes cr.dlt none
Jensen Beach, Ftorlda 33457 uf•~obtalle„ Ins, ~
tq t~wfiw ~
Ib! CIEd~ IHeiMtall ~
September 25, 79 tai ~ e
No. a?TEtx . tg to s non
ouE: 4 October 6, tol AittoYitt pimeord '
t9
84 , IA, d, c, D, t, ! 4040.00
IH1 Inbraet _..~Q_
PLACE: . FLORIDA (l! Cndh Inwatlgatlon d
F« vehre received, the urtdersisrred (heninefbr plied "Maker" 1 loimh and savenNy Ili IK'1 OthM ~
mese then and prontbe to pay to order of tM drink. at is otfia listed abow,lM ToW
01 Peytrwtti Ifrorn IN1 at rlghtl d 5391 Oolbn payttbM to ~ tU f •
enual monthly Irtsgllrruna d • 89.85 . the IMtt . IM! tNl 1, . lNt 1 1351.00
rrtewlrrterM dw on~fJ~13L•..~a...-, td_.Z9.lard t111netMleite ktttMktunlt flue an INi tt/W tt! ~ 5391.00
tlrylfunb ll! IiAI • !
rtre 6~d.y d~~wnth theredbr fo~tlm with a FINAL BALLOON PAYMENT OF: At1M1UAl M4At~NTAOR AATE . lZ•,pp S6 .
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s OUE r 1Y:.,.,~.
Tire dank then inK,o.t? a tfelittgttartey t:lwge agww the Mtk.? on any payttrMt tt1f10h fir tutlaflM dIM Illld ififf11if11 IM tlelwit itlr a ptrbd In exow of 10
dsys M an .mount agtlel to tai of fire anattnt d tlta pincbf~ paH of the peythent b ebtaYh. IM the ttttertt thM flte Neck M Mot peld M hMl an ttlaturl~p. ellp.y
rrterra, whether prMetpal, infuser a othatwiM,ldtaN bur M/eiiat N the inattkttWn b~a1 tsb elbwgd ufdM tIM W11rt et tIN •tule of Rhlrki. All pp~~iM~tNwntb/itde
hereunder shNl be uedited first to interest end tMn to principal, however. in the watt of ttafMlit, the dank fflay. M Ib uole dltetallon, alpply ahW t to
lnterpt, p?NrcipM aM!« lesvfut dwgst then aotxwd. h b tIN Inbrttblt of thk pertiftl htMo thtlt the fMflYbleffl hMtM Iltell IWt proykle tfkectly irtEk~eeth . .
t« tlu_ peynrrtt d e Eraser nb d interest « tlu rdentlon d aiw other ~fla thNt M albtwd by INN. It. hit eMy ?SeleMr Nffliett b eittlaat of t~ueA le I req «
charge prohibited by bw shall at any tune be paid, any sticlt expN ehaN Nthu t~l+atlttlte end b1 tiEglgl rM • p«nNMt tNl flu ptbtelptl p IN rNuiw4d dlreetly '
to the Make.
TM M~kflr ffrtr pfffWl? du tintW 1111pNd 6Ngneg tlt dle bell Bt fitly tNtu. Ii 41N klMt M pNwW M tYU. flilrllpMtw fsf Ifllilwllgld. dill tt>tltN 1Ni111 rteMve .
refund d the trt.rrrd portion d dta inbnst end ktaurartea pr.rnkwttt t;ortKlubxl by flu MINe of 1d'a 1111t1Wd, klttf«It thN ttli thftk Ihth ~ emltled to retain'
fdtarw ell l6.OO.
~ ~~IFE AND diEblT LIFE A DI3IWILITY INSUpANCE ApE VOLUNtApY ANb NOt MECUIMtb Mt7M CMElflt. tMidt Inwrena eo+~reN Its
awilaltla ai the cat dMlsitabd below for du Britt d flu eredM: let ! hM Oretllt LIH Ifltuttwlte (b! •
fo. Gedit lib A Oletbility Inunrrce:
Check ? Credit Life Irnurarroe is desired on tM IHe d
APpf ~llkl/a
Box ? Cradlt Life i Dttability Irttwuta b desired on '
r~--~y_ dkthdati
t...) Credit Ute and/« Dbability Irquranca b not dpked. -
oaq: Septef+lbttr 25, 1979 B~tun
s Nc6r ff~ ~
Mutt ' v '
' As security t« the peynrNtt of the Noce the Maker iteraby a to the desk
n fd owl •ty:
Cored, I, Recorded on 0. R. Sooc~263, Page 2002... Unit Week ~n Con - ,
Mt_ Ne_ D-19, s described in -said mnrt~~
' ~ncludag all inueeses, substitution, r.plao.rturta, additions and scrxteiorts thereto sad in tM propels thereof (heninsiter celled "Collatrel"1. This severity
mte?eat shell also levers any other indebtdnte « IiabMity d the Maker to flu Behk direct « iitdireet, absolua «continEem, duo ar to become dw, nave ex-
i ~turg « herpttM erbirg, irrdudwg aM future edYartCN « lorry bb the Bank to the i<Aaker.
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" The Bank is abo given a Tien and a severity inbrpt in all property and severities of the Maker, etrdoner, aunty, suerant« or accornnrodation petty of fhb
Note (hereapfter re1«red to as the "Obligors") now q or et any time herafgr comity into fire oontrd, astody oa polpaion of dte 8enk, whetMr for tM tx-
txeseed purpose d bears used by the Bsnk p Collateral, or f« any other purpose, end upon any belarw « balrrop to tM credit d arty atxarna, irtciudiry
true artd asency accounts maintaind withtfu Bank by any of the Oblig«s, and the Oblg« egrM to deliver to the Bank sdditionai CalbarM or melee sash
i paynterra in reduction M the prirtCipel amount d the IoMr as shall be tstisfactory to the Bank, in the event the aforerrrentiorred Collateral shall decliM in value
~ a. txicorrre urrsatidactorv to tM Bank.
Additions to, reductions « exdtertges d, « substitution for the Collabrsl, payntena on atxoorwtt d fhb loerr « intxeaps of tirt+ ants, es other lows made ;
partially « wholly upon 1M CollabrN, may from time to tint ba nude without effsctirp the provbioM d fhb Note. The bank shah exerts! reasartabM pre in
ctx custody and prelargtion d the CoUebrel to /M sxtertt required by spplicabb sbtub, and shell be deenud to haw exerebad reportable are it it takes suM ~
xtion f« thst purpose as Maker shall reesorrsbly request b writiry, but no omission to do any as not requested by Mekar shall be deemed a faitun to exercbe
.ess«nble an, end rto «niesion to comply reifh any regtrast of Maker shell of itself ba deenrd • fallen to axerdp rNSOnabb pre. Bank shell not b bound [o
take say steps rteopser,? to preNrve any tiara in tlra CollagrM against pri« pertlp end Mebr shall tab all rtrannsswy tape tes audr purpoMe. TM Bank or its
l nominee need not collect Mbraet on, a a prlneipal d, arty Calbbnl «tib+ am noNca.with respect to h.
TM Bank may oontirNre to (told any CollasuM dspoeibd IrreundM after the payntrrt d fhb Nob. if at the three d the psymutt and dbeharse hereof any of
the parties liable far the payment ftered theB bs then directly or eontrrssntly ILbN b tlra Bank ei Maker, ar+dorb?, wary, gtwant« « eccorrtnwdetion
of any outer rrob, draft. biB d excltrrge, or otlter iutrtrrrtent, or othetwip, end the Bank may tlrer}aft« exircbe NI tiara with respect to said Co
$ 9?ansed herein even tlrotrgh this Nob ettell has been wrrnndued to tare M fkar. ~
If dte Berk dearer itself irtsawra es upon 11N ItappaitNy d any d the fdlowlnE awnb, each M ttbbh tlrMl t:OtMtltYb • default, all NebgNbs OI each Maker to
the Beak. irrdtrding tM entLs w~f prfndpsl d fhb Nob end aartiad Inatesf, bM any uftoantad Inb?eet and aryl Internet Mt can o}-the ntntkntrit aibwed •
br Iaw and any rebates required by Irrv, ttltaM itsrrudiMely or tharaeftar, at the option of dta Aanit, expel that tM ooewrenoe of Icl or Ill shell ceeaa wtomet-
- rc soeekrstion; without notice or dsrrtrd, baconN dtN and peyabb: lal the failure d any Obligor to perform any obl igetbn, ilabNity or Beim to the Bank, to pay
interest hereon within 10dey: after it b due, a k fliers is no due deb, sfbr it is billed «odwwbe ragweed es dernaidMl, a eo pay any other liability whst-
soever >d the Bank when due: lbl tfre Ossth d any individtrsi Obliges, flee dissolution of any pernraghip Obligor « tM tliMONrtion, mugsra? oonsdidation with-
out tM Bank's prior written cornent d say oorporeb Obliges: 1e1 /M filirts d s petition in bankrtlptey ar the adjudidtittn Of inWlwrrcy of bankruptcy under
any ?eorgrtirnion, arrertgsrrterrt, rsedjtrstntwtt d debt, dissolution, liquidation es similar praoeadiry undo any Federal a stab sbtub, by or agaimf arty
OWrgor; Ill an application for the appoirrtrrtsnt_d a naivar tor, ar tM rrtakirtg d a gartanl assigrrrtairt for the benefit d enditan tfy, arty Obligor; let tM entry
~ of ttrdgntem sssirtst any Oblpor; Ifl tfre iswiry d any sttadwtwtt a gsrrrislrrtem, « rite fiiirrg d any lien, ageint any property of any Obliges; Igl the taking d
possession d say /trbstantiM part d tfte property d any Obliges at the irtstartoe d arty governnrerttsl oath«ity: (lr) tM debrntietation by tM Bank that a matri-
i a~ adverp elttrtst has oopared in dta financial aorMlitlon d any Obligor fran the ootditlottt sat ferdl M th! most resent fMlMtt:ial sblanunt d audr Obliso?
neradan Wrnillted to the Bereft, a fresh Ura cartditlart d suds Obliges ar haretdan oral raturtefy disclaaad u Use Bank. or 11yt any vwrramy, repreaanbtion,
t certitigb es abbmant d any Obligor hsltetfttr colttaMad N dlb NoN «not) puWNng to or M o0ititaetloM veldt fhb NoM «the loan evidaitoad by fhb Noe
E contains .n urrfrw eteanrnt d rttrwW het a amia fo atab ntatarid fact rt.ewary rn «dar fo mob dta wbnuna made rot misleading: a, In tlra aseitn- '
meet by any Maker d say equity in any of the Cdlabrel without thr pries written corteerte d the Beek. ,
The Bank shell hew. but slteN not bs limited to, flu following rf~ta, sash d which may be axeneipd at any tints sdtetlter « not fhb Nob b dtN: lit to
itferlsa or trainfar fhb NoM end tfte Colbwal atr tMe desk attell tltareupon ba rMNred d aN titltlaa and iedsonNbliftlq lurwitder aid rNievMl from aatr and aN
liability with ralpaet to any Calbluel ell pkrdgsd a trairsfenad, and any pfadsae or tratabrea shall for aN purpobe sytld in the place d tM Bank hentutdar and
hsve aM the rirlb of tIM dank ftNeulltlM; IBI fa? traftdar tfu whoM er any part of the Coilebral Mlto the nrtta d itedt o? is iweMrue; iiHl to tab the CoMaarM:
Iiv) to notify dte Oblisors d any CoNsterM to mob peynunt to 1M Bank d any errtotrnb dw or to beoonr daft titeraon; Ivl to darstuld, wu for. Donal, «
fxw 1NK~ a~sl`use~` ~ie"re~n
m
ens ue~R`~'ee~°~ssoc~a~e~s; t~n~an~~rOO~~s assn'
gipr d cawbrel'
fifOTiCE: aEE OTHER SIDE FOR IAAPORTANT.INFOFiM?TION~•~~
FK 7S2 Rer 7/77