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' ' ~ INSTALLMENT PROM1SSp(iY NpF~;,
TURTLE RECF ASSOCIATES, INC. * - la AmourttReaiwd s~,Q.,66~.,pQ_.
BANK NA Isl. Liht%u0insafbi«II~ M` s none ` .
Jensen beach, Florida~33457 none
ICI Doeunwttsry Starrga s
oFFI E A R IDI OMer Chergas lit«ni:al s none
IEI s none
NOTE NO. DATED• October 15 j , 19 79; ,~FI ' ° = none ~
DuE: - October 26, ,19 gg Icl 1~ ~ FiDneE
eFdl = 10 667.00 j
. Ilfllntereet s 7 1.
PACE: ,FLORIDA 111 Credit Irtwstigetan = }
ul other : S
for wlw repived, tM undersipted (herNnefta plka "Maker"1 jointly and severally (if fKl S
more tMn oral promise to pay to t~ order of tM Bank, at its olfip listed above, the Toth
of Payntantsllrom (Nl at right) Of 18.8.40 - Golfers payable in _~ZO IU _ cT ;
equN monthly installments of t 153.07 ~ ~ first (fiA) PINAl11CE CHARGE
~nstallmant dw on ,~p~9i11~N 26 (H, I, J, K, LI = 7 701.40
. IIa..IS. era wbsequent irtsiNknertts dw on ~NI otN of tti~mena IG~; Ml ft< 18;368.
t~e~dw of each moruh tharpftaLta~•.tha w_M :FINAL BALLOON PAYMENT OF: A~~UAI PERCENTAGE RATE 12.Q~
S 11V~ DUE , t9
TM Bank Ntatl intpote a dNirtgtleney cherge against tM Make on any payment which has beoorcte. dw and nrruirte in deieult fa a period i{r ~xpa of 10
c~eys in an amount egtrN to 5% of tM amount of the principal part of the payment in default. In the event tMt the Noe b not paid in full ere maturity. all pay
~orrnes, whether principal, interest or otherwise, shNl bear interest at tfte maxirrwm IegN rata slowed under the laws of tM State of Fkxide. All payments rrtadt
`~•hereunder Null be uedited fiat to interest. and then to principal, however, in tM went of defauh, the Bank may, in its eoM discretion, apply any payment to
~ mterest, principal andlor lawful eherges then acutrad. It is tM intention of tM parties hereto that tM provisions herein than not provkM directly or'indirectly
for the payment of a grpter race of interest a the retention of any other clta?ge than is Nbwad by Isw. If, for any reason, inurpt in exact of such Ipal me or
a charge prohibited by-law shall at any time be paid, anY nrdt exops shall either constitute and be treated p • psymertt on tM principal a be refunded directly
to the Makes.
The Maker may prepay tM"entire uryuid balance of the loan st any time. If tM loan is prepaid In fuN, axelaated or rafinartced, the Maker NtaN receive a
refund of the unearned portion of the interest and irgrrranp premwn?s computed by tM Rule of 78's mtthod, except that the Bank shall be entitled to stain
a minimum interest Burge of 16.00.
CREDIT LIFE AND CREDIT LIFE ~ DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such imuranp coverage is
available at tM cost tNsignatad bNow for the tam of the uadit: la1 = for Credit Lite Inwranp (b! :
for Credit Lib Ai Disability Insurance:
Check ? Credit Life Irtwrsrtct is desired on the lib of -
APPI• - Rirthdau r~
Box ? Credit Lite f! Disability Insurance is desired on -I~
Birthdate
Credit Lite and/or Disability Insurarip is not desired.
Date: (1GtnhPr j5e 1979 Signature - - - •
. _ ~ o~ _
j.~
Signature
As security for the payment of the Note the Meka hereby grants to the Bank a eecwity interest in the followi ~ a< tY: n tint a Reef
Cond. I, Recorded on 0. R. Book 263. Pda8 2002... Unit Weeks 9, 30, and 31 in
Cond. D-13a~nt_ Ne_ Q-j~, as d ctrl ~ in c~~irl tnnrtQa~~ -i
~ncludirg all inueases, substitutions, replacements, additions and accessions thereto and in the prooeedt thereof IMnirtafter piled "CollaterN"1. This security
mterest shall Nso severe any other indebtedness or liability of the Maker to the Bank director indirect, absolua a concirtpent, dw a to become dw, now ex-
.sting Or INrpiter wising, including all future adYa/1Cp Or loans by the Bank to the Makes. - -
The Benk Is also given •a tier and a security interest in all property and securities of the Meka, endorses, surety, guarantor a accorrMTlodation party of this
Note (haninaftsK referred to ss the "Obligor"1, now in or at any time haafter coming into the eontrW, custody or postession of the Bank, wMther for the ex-
pressed purpose of being used by tM Bank as CollaterN, or for any other purpose, and upon any balsrtee or balances co the aedit of any atxounts, indudirg
trust and agency accounts mainuinad withtlte Bank by arty of the Oblgors, artd the Obligors sgrp to dNiver to thi Bank additionN CollagrN or make such
payments in reduction of the principN amount Of the loan at shall be sstisfscto?y to the Bsnk, in the event dte aforementioned CoilsterN N+sll decline in value i
or become urtsatisfsctory to tM Bank. _ - ~
6 Additions to, reductions a exchanges of, a substitutions for the CollsterN, payments on atxount of this loan or increases of the serrta, or other loans made
partially or wholly upon the Collateral, may trorntirne to time be rrudt without affecting the prwisions of this Note. The Bank shNf`extrcise reasonable care in
tree custody and pralerwtion of tM CollaterN to the extent required by applicable statute, and Null be deemed co have exercised reasonable care iI it take nrctt g
I action for that purpose as Maker Null reasonably regwct in writing, but no omission to do any set not rerluesced by MNea shMl be dpmad a fadun eo exereip '
I reasonable pre, and no omission to comply with any ngwst of Makes shall of itself be dpmsd a failure to exacip nasonabk qre. Bank shNl not be bowtd to j
take airy steps rteoessiry to preserve any rights in tM CollaterN agsirtst prior parties and Maker N+NI take NI necessary steps for such purpaes. The Bank or its '
nomirrp need not colMct interest on, a s principN of, any Collateral a give any notice~with respect to it. j
The Bank may continue to hokf any CollataN deposited hereunder after the payment of this Noe, if at the time of tfte payment and dadurge hereof any of 1
the panics liable for the payment hereof shall be titan erectly a contingently liable to tM Bsnk as Maker, endorser, wrety, guarantor a socorrrttotlation party
I of any other note, draft, bill M exdtartge, or other atmument, or otherwise, and the Bank nry.Mergsfter exercise all rights with repeat to said CoNataN ~
granted herein even though this Note Null ltaw been slrrrartdared to iM IiMka. a
If tM Bank deems itself iratcure or the happening of any of the foflowiig events, each of which shall constituu a default, NI liabilities of each Maker to
the Bank, including the entire unpaid principal of this Note and sarued ingrest, fps any unearned interest and any interest in expss of tM rtuxirtttwn Nkx+red
by law and any rebates required by law, Null intrrtedistNy or therpfter, at the ,option of the Bank, except that the aocurrartce of Iel or Idl shall estrse automat-
ic acpleration; without notice ordarrtartd, baoontedw and peyabM: la1 the failure of any Obligor to perform any obligates, liability or dairrt to tM Bank, to pay
i interest hereon within 10dsys efts it is drra, or if then is no dw dace, after is is billed a otherwise requested or dernertded, or to pay any other liability wftet- ~
~ soever to tM Benk veften dw; Ibl the dpth of any individual Oblgor, ttte dinolution of any pertrtaship Obligor or the dipolution, merger or ooraolidationwith- ~
~ out the Bank's pier written consent of any corporate Obligor; lcl tfte tiling of a petition in bankruptcy or tM adjudication of irtsolwrtry or bankrtrpscy under
! any reorganization, errertgerttent, rpdjustmant of debt, dasolution, liquidation a similar prapatGrg user any FederN or :tea statute, by or against tlrry
s Obigor; (dl an appliption for the appointment of • receiver fpr, or the melting of s generN assignmrtt for tM benefit of ueditors by, any Obligor; Iel tM entry
j of lodgment against any Obligor; Ill the i4uin0 of any attacMstartt of garrtiNtrtNrtt,ern tM filing of any lien, against any property of any OWpor; Igl tM telling M '
possession of any substantial pert of tM property of any Oblpor at the imtartoe of any gowrrtmerttN authority; Ih1 tM detamiration by tM Bank that r-
al adverse dungy has occurred in tfw finaneiN ooraition d any Obliges from tfte corxlitiorts sat forth in the mat noertt finsrtciN statement of wrdt'gor
Heretofore .furniNted to the Bank, or from the oorrdition of eudt Obliges as heretofore most recently d'adoead to tM Bank, o? that any warranty, repreaenation, '
cernfipq or astamant of arty Obligor (whetkar oontantsd in thin Nou or trot) penaeing to or in oortrter.•tion with this Nob or the loan evidenced by the Note
5 contains an untrw sucement Of mataiN feet a omits to ante rrtateriN face rtecesaary in order to make the sbtentenes nteda not miNaedwg; or, lil tlte_aasgn- '
mem by any Maker of arttr equity a any of tM CollaarN without the prig written eortpnt of the Bank:
~ TM Bank Ntalt have, but shall not ba limited to, tM fallowing rghts, each of vthidt may bo axeread at airy time wMther or rot this NoM is dw: lil to ti
- pledge or trartefer this Note era the CollstarN and tM Bank slrll thereupon be relieved of NI dutiM and raepomibilities hereunder and rNitwd front any and aH
liability with respect to any Collepal eo pledged or trarttfarrad, and any pNdgee a tpruferae shall for Nt purpops stand in the place o/ the Bank herwtrtder and
haw aN tM rights of the Bank hereunder; (ill to tansfar tfta vvftoN or any pert of the Collateral &tto tM nerve of itsMf or its nominee; (iii) to vo/a the Collaereraf;
~ fiv) to notify tM Obligors of any Col4terN to make paymartt to the Bank of any amouna dtre a to baeostfldtre thereon: Ivl to derswtd, stre for. odktct,to!
make any ooh Rr settlerrtant able with to tM terN; vi) eo • of of oceads of Collaff><N.
~NK as usef~` I~er"e~n means ~ur~e Reessoc~a~es , `~`n+~°"ean~'~r°°~~s as'~s ns .
r NOTICE: 8EE OTHER SIDE FOR IMPORTANT INFORMATIOhI~'~~e~~~*' T' ~t
FBS 7S2 Rw. 7/77
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