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Home My WebLink About1502 ' INSTALLMENT PROMISSORY NC TURTLE REEF ASSOCIATES, INC. * IAI Amtwnt Received :7,000.00 BANK NAME IBI Lifiipl,.bilityrins~ = none Jensen Beach, Florida 33457 none Icl oon,m.nt.ry stamps t OFFICE ADDRESS 101 OtMr charges (itarrll:el = none (E) s none NOTE NO. DATED: Apri ~ 7, ,g ~ IF) s none IGI Amount Financed ~ DuE: Apri 1 21 , Ig 90 . (A, e. c. o. E. F) s 7 ,000. IHI IntNest s 4 a 10~1.~. 20 PLACE: ,FLORIDA 111 Gadit Investigation = lJl Other = ' For valve rtcervtd, the undersyned (hNeinattN ulNd "Makei jointly and severally (il IKI _ more than oMl promise to pay to the ordN of tM Bank, at its olfip listed above, tM Total of Payments Ilrom IN? at right) of 511.101.20 Dollars WYabN in 120 lLl : equal monthly installments oft 92.51 , ilia tint IMI f INANCE CHARGE 4 101 20 installment dw on ~ 21 s , 19 ~ ,and wbsegwnt installments dw on IH, I, J, K, L) S s INI Total of Payments (G + M) 111.101.20 tne~_dsy o/ lath ~ortth thNestter_to~etMr with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAQE RATE 10.00 % f1Uf1C - - - - S DUE , Ig The Bank shall impose s dNtnqutncy chNge against the MakN on sny payment whk:h hes beoorrte due and rerrtslm In default tar • pNiod in expss of 10 days rn an amount equal to 5% of the amount of the principal pNt of the payment in defsutt. In tM event that tM Nob h not paid in full st maturity, s11 pay- ments, whethN prinupsl, interest or otherwise, shall boar intNest at the maximum legal rat. allowed under tM laws of the State of Florida. All payments made hereunder shall be credtttd lint to interest and then to principal, however, in the event of daisult, the Bank may, in its sole discretion, apply any payment to interest, pirtcipsl and/or lawful charges then ace.ued. It is the intention of the pa?ties IlNeto that 1M provisions banjo shall not provitM directly or indirectly lo. the payment of a gratN ?ate of interest or tM retention of any othN eMrge than is allowed by law. H, for any reason, Interest in excea of such IegN rate or a charge prohibited by Isw shall at any time be paid, any such expss shall eithN eonstiwb end be treated es a payment on the principal or be refunded directly to the Maker. The Maker may prepay tM entire unpaid balance of the loan at slty time- If the Itxtlt N prepaid In full, sealNated o? of Itlsnced, She MakN shall receive a refund of the unearned portion of the interest and inwrsnp premiums eornputad by the Rule of 78's method, except that tM Bank shell be entitled to retain a minimum interest charge of x.00. CREDIT LIFE AND CREDIT LIFE 8 DISABILITY INSURANCE ARE VOLUNTARY ANO NOT REOUIREO FOR CREDIT. Such inwrsnce cowrsgt is available at the cost designated below for the term of the aedit: lal S for Credit Llfe Inwranp Ib1 S for Credit Life 8 Disability Inwrsnce: Check ? Credit Life Insurance is desired on the life of A~• Bi?thdata Box ? Credit Life tt~ Disability Inwrance is desired on r~ Birthdab t~ Credit Lite and/o. Disability Inwranp is not desired. Date:... Apri 1 7, 1980 signature arro ur Signature t V~t1p As security for the payment of the Note the MskN hNeby grants to the Bank a security in t 1 thttttin iflg ~S i n Turtle Reef Cond. I. Recorded on 0 R Book ?63. Page 2002 Unit Weeks 14 and 15 in Cored D-8, Apt. No. D-8, as described n sa~~mortgage. j ~ncludtng all increases, substitutions, replacements, additions and accessions thereto and in the proCteds thNeof IhNtinaiter Called "Collsbgl"1. This sscunry interest shall also secure any other irldebtedrlass or liability of the MakN to the Bank director indirect, absolub or contingent, dw or to become dw, now ex- ~surg o? herattN Nistng, including all tut4n adwnps or Irons by the Bank to the Maker. i The Bank is also given a lien and a security intNest in all property and securities of the Maker, endorser, wrety, guarantor or accommodation parry of this Note (htreinsftN referred'to es the "Obligors '1, now in or at any time hNafter coming into the control, custody or possession of the Bank, whethN for the ex- pressed purpose of being used try tM Bank es Collateral, or for any othN purpose, and upon arty balance or balances to the aedit of any accounts, including crust and agency accounts maintained withthe Bank by any of the Oblgors, and the Oblgors spree to dNiver to the Bsnk additional Collabral or make such payments in reduction of the principal amount of the ban es shall lxt satisfactory to the Bank, in the event the atonmantioned Collateral shall decline in value or become unsatisfactory to the Bank. i - Additions to, reductions or exthsrges of, or wbstitutiorls for the Collateral, payments on account of this loan or inueeses of the same, or othN loans made partially or wholly upon the Collateral, may from time to time be ntsde without affecting the provisions of this Note. TM Bank shall txeruse reasonable tart rn the custody and presNwtion of the CotlstNal to the extent required by applicable statute, and shall be deemed to have axNCised rasortabM ure it it tikes such E action for that purpose es MakN shall reasonably request in writing, but no omission to do any act not nquestad by MakN shNl be desmed • failure to exercise reasonable ure, and rto omission to comply with arty request of MskN shall of itsNf be deemed a tsilun to exercise reasonable ure. Bank shall not be bourW to cake any stops neussary to preserve any rghts in tM Co11atNN sgairot prior parties and MakN shall take all necessary steps for such purposes. The Bank or its nominee need not Collett inbrest on, Or s principN of, ay Colbtersl or give any notice with respect to it. ~ , I The Bank may continw to hold any CoIlstNSl deposited hNeundN after the payment of this Note, if st the time of the payment and discharge Atrtof any of ~ tM parties liable for tM payment hereof shall be then directly or oontingarttty liable to tM 8snk es Maker, endorser, wrety, guNantor or a000rnmOdation party p of sny otMr note, draft, bill of exchange, or other irtstrumant, or otherwise, and the Bank may thNafter exe?cies alt rights with respect to said Collateral granted herein even thotgh this Note shall have been wrrendered to tM MakN. If the Bank deems itsNf insecure or upon the happening of sny of the folbwing events, each of which shall constitute s daiault, all liabilities of each Maker to cne Bank, including the entire unpaid principal of this Kota and accrued inbrest, kiss arty urwsrned inbrest and any interest in exoast of the maximum allowed i by law and any rebates required by Isw, shell immsdiataly or thenaftN, at the option of the Bank, except that the oCCUrrenp of (el or Idl shall Caine sutomst- ` K acceleration; without notip or dtnwtd, baconta due and payable: lal the failure of sny Oblgo? to perform sny obligation, liability o. claim to the Bsnk, to pay ~ interest hNeon within 10dsyt Biter it is dw, or if then is ra dw dab, sftN is is billed w otharwiaa requested or demanded, or to pay arty othN liability what- soever to the Bsnk when dw; (bl the dash of srny individual Oblgor, the diuolution of sny psrtnNShip Obligor ar file dissolution, rrlergar or Consolidation with- out the Bank's prior written conesrtt of any corponb Obligor; Icl the filing of • petition in bankruptcy or the sdjudiution of insolverity or bankruptcy under any raorgsni:ation, arrangement, readjustment of debt, dissolution, liquidation or similar procadirg urdN any Fadersl or sbb sbtute, by or against any Obligor; Idl an application for tM appointment Of a npiver fro, a the making of s general ssigriment for the benefit of creditors try, sny OWiga; le) the entry o} lodgment agairot sny Obligor; Ill tM issuing of any sttsehmsnt or gunitftrttant, or tM filing of any lien, spsiMt sny property of any Obligor; tM bknng of possession of any substantial pen of tM propNry of arty Obligor st the iratance of any governmental authority; Ih1 the detNmination by the 8arilc tMt a rTNtNi- ai adverse Change has occurred in tM financial condition of any Oblgor from the conditions set forth in tM most repot financial sbbment of ouch Obligor ncretotore furnished to the Bank, a from tM condition of such Obligor es hNetotore most recently ditdosed to the Bsnk, or that sny warranty, reprasenbtion, certifiub or statement of any Obligor (wMthar oontairlad in this Nob or not) pNbinirg to or in Connection with this Nob or tM loan evidenced try Mif Nob contsint an untrw statement of material fact Or onlib t0 tote rtteterial feet Mcessary in ordN to make the sbtamsnts made not mNladirig; or, lil tM essgn• E meet by sny MskN of any equity in sny of tM Collateral without fife prior writtM consent of tM Bsnk. ~ The Bank shNl have, but shNl cwt be limited to, tM following .phis, each of which may be exercised at any time whethN or not Mis Nob is due: lil to ~ pledge a trlntfN this Note and tM Collabrsl and tM Bank shall MNetlpon be relieved of NI duties and responsibilities liereurider and rNieved from any and NI liability with respect to any Cdlatersl eo pNdged or usrnferred, and any pladga or aarofNee shMl /or aN purposes stand in tM Ofsoe of tM Bsnk Itarwrider and haw all tM rights of the Bank hNwnder; liil to tramfer tM viAtole or any part of tM Co11atNN into tM nanr of iteNt or its nominee; (iii) to vob tM CollabrN; Irvl to notify tM Obligors of any Collateral to make payment to the Bsnk of any smouna dw or to become dwgthtenocnog(ty) to dasrn~rr~no?d, tw for, collect, or make sny Com4r pr eettlarrtant it Qeenn desirable with ~erbtpetoRee ~ ~v') to Wce pwepssna~Or 7 LS ass 7 cjnwS~ of CollatNSl. * 'BANK ' as used erel n means ur ~`°I~ssoc a es I nC . 8 NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION 800K~~ PACE1,4t7J Fes Est a.,, ~i»