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. . ~ I~TALLiIAENT PRDIIAISSORY NOTE - ~
TURTLE REEF ASSOCIATES. INC. ~ w~~~ ~«ra:~ s-~l~~Q~4 -
- e~?~c Nn,~s ~e~ ?.«~m ra none
Jensen 8each, florida 33457 ~''~0aib'''~''"'' = n'~~
tc) ooaur~?wv stamps s - ~
OFFI ApDR (p) OtMr (~irp~t (itrnir~{ t ~ne ,
~ no~e
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aoY~ No. ~ DATEi~` ui , 83 . . ~F~ , . none
~ (cl Amo~,~t FUinc~d 4
Ja~u~a~Y 6. ,~a~ e. c. u, e. F~ s~.1r964,~ . ~
DUE= _ _ 8
IHI Int~rett _
PI.ACE: . FLORIQA (1) G~dit Inwtti~tion = ' '
(J) OeM. :
Fw wiw ncrwd. tM und~niprwd (he+~i~a(N~ ptNd °k4ker"1 iointly snd s~vtraNy !it (K)
mon tMn on~l womis~ to pay to t1u ordsr oi N?~ B~Nc. at ita osfiu tistW abov~. tM ToW
of P~ym~a (from (N) at rghtl of ~~~7~-~ - Do~lartpsY~bb in ~0 (L) _ S
pu~l ttwntAly insqllmMK of = ,~,2.$9 .1~ iM) FINANCE CHARGE
t I' . 19 and t imallm~nts dut ar ( H. 1. J. K. l! t
ms1s11r~M due o" (Nl Total of V~ym~nts IG M) S ~ Q.
cM~,_dsy ot iach~+ontA tt+K~alu.iio~ttM'w_M a FINAI BALLOON PAYMENT OF: ANNUAL P~RCENTASiE RATE ~
r~vri OUE ^ - - - -
_ .19 ~
Th~ Bs~k sha11 impos~ s dNinquency d+arg~ aydnst d?e Msk~r on sny pav~t which ha~ becanr dw and nmains in defautt for a pKiod in ~xcas of 10
days 1 ao smount equsl to 576 oi the smouot of tM principsl part ot the paymtnt in d~tault. In ths w~n~ thst tA~ Noq is not paid in full at mituri~y, ~II pay-
me~cs~l+Stl~er princN~l. intenst or oth~is~ shNl beas inanst at tM maxi~wm 1~1 r~tt albrwd uMu tM laws of tM Stai~ of Flo~ida. All paynrets m~de
M.aundtr sl?~N b~ crsdilW tint to int~raf'1pd tMn to p~inc'~psl, Iwwere?, in tM ~vsnt of d~fault, th~ 8ank m~y, in its soN dixntion, apply ~ny p~ymtnt to
intaesi principsl snd/a lawfu~ chug~s th~ei
iocrwd. It it thr inie~teon ot the psrtiet hareta Mst d+~ provisian Mnin shsll not P?ovid~ dinetly or indi?~ttl~r
l~ ihe psym~nt of s 9rwta ntt of intaat w tM ntention of sny otM. cha~ than a albwed by law. It. for any .ason, intenst in exaea M fucA t~yd rses or
s charg~ WoMibited by taw sha{{ st aMr tir~ b~ p~sid, snY wd~ ~xoas fhall ~itAer constitua snd be treat~d ~s a psyment on tM principsl a W 6fu~ dKeccfy
to the hlaksr.
RJ}
The Maksr msy pr~paY the Mtirt unpsid balsnce ot t!N losn st sny time. li tM losn is prepaid ie tull, acoet~ated or rofinanced. tM NWel~ ~hsl{ t~eeiv~
?eiund ot ~M u~es.~xd porYian of ihe interat snd inwnnq premiums eomputed by tM Rul~ af 78's m~tAod, except thsc ~M Bsnk shs11 b~ ~ntitNd [o nuio
a mi~imum i~terest dta~ye of f~.~.
CREOIT LIFE ANO CHEOIT LIFE ~ OISABIIlTY 1NSURANCE ARE VOLUNTARY ANp NOT REQUIREO FOR CREOIT. Suth inwianq cownge is ~
available at ths cost designatad below for the term of ihe C~adit: (s) : fw Gedit Life lruu•snce.(bl S
to? Gedit life ~ Dissbility Insurs~ce: ' .
Check ? Gedit l~Ye Insu?anee is desired on tht life of ~ ~
Appl. Birthdate
Box ? Credit Life ~ Disability Inwrance is d~sired on
' Buthdate ~
~ Gedit l+te andlor Oisabilicy Inwranca is not desired.
Date: F1~R1lari~ 11 ~tQ$~ Signawre ' l~"
~ . , D. r+lc~t".1 . .
_ . '
, siynatun r~ •
° As setu~ity for the paY~~~ ot tht Note the Maka fiersby grsnn to tht Bank a secwitY ~n m~ ooeriv: ~ ~ _
; Wssii i, ~1S IaW~L7I~ 7.T1 V. lt. tiOQIC 603? Y:KJ9 LUU.L... t~llZ YI~!!KB 3~4~5r ii •
I D-9~1~t 13~ D-9~ ss d~_~IL~a~$ mOt~tQ~ABl. ~
~ ~n~tuding all intr~sses, wbst~wtionf, replacertwnts. 2d8itiorK and iocessiorK chereto and in the prooeeds thenot (heninafter ciH~d "Colbur~P'1. Thi~ MCUrity
; ~nterest shal{ also sacure any ott~et indtbtedn~u or lisbility of tht Makef to the Bank direct or indirett, a6solute or tontinpe~t, due a to t~CwM dw, now ex- .
~ ~seing or herqita xisiog, including all tuture advanc~s or loans by tf~e Bank to the Make~.
' Th~ 8ank K slso givan a lien and a tewrity int~r~st in d{ ~opertY and sea+nties of the Make~, endoner. wrecY. guarsnta or xcommodation p~rty of t!?u
~ Nots Ihusinafte? nierred to ss the "Obligors"1, now in w st sny tirr~ hereafter coming into tAe contrd, tuitody or po~etsion of the B~nk, wMthsr fo~ tMe ~z-
prESSad purpose of beinq usad by the 8ank as Col{stersl. a far aMr othe? purpase. and upon amr bals~ce or bslsnc~s to tM a~dit of ~ny socounts, ineludinp
! trust and ap~ncy aCCO4„ts maintainsd withths Bsnk by sny of the Oblipors, and the Obligort egree to deiiver to the Bu?k additional CoNaterN or mskt suCh
payments in ~sduttiqi~ of tM printipsl srnount of the loan st sMll b~ satis(sctory tn Me Bank, in the avenc Me atoremenciona~ Collatenl fhNl d~t1iM in vslue
or becom~ unqtitt~Ctoty to LtN Bartk. _
Additions eo, r~ductions or ezehanpes of, a wbctitu[ions for ths Colbteral, psyments on account of Mis Iwn or inusases of th~ or otfi~r losns mad~ i
partialty w wholly upon the Collatersl, maY from [irtK to cime be made without sffecting Me provisions of this Note. Th~ 8ank shalt ~xac~ss rNfonsbN csn in ;
~ tfie custady snd prsiervstion of the Coll~teral to tht ~xtsnt required by applicable scatute, and shsll be d~em~d to hsw sx~?ciad rqsonsbl~ cHt ii it tska wch ~
~ attion for thst purpos~ as IWker sfsall ~~ot~ably r~quett i~ vKiting, but no omissioo to do srhr act rwt nqu~st~d by N1~kN shMl b~ dNm~d s failun to ~zwcist
r~sson~bl~ pn, snd no Orni~sion to tomply l~th sn1? ~~qwtt of MakN ~lull of itsel/ be`tl~emed a isilur~ to ~xtrcise r~ason~bk tare_ 8ank shNl not bt bound to ~
cake s~y steps Mc~ss~ry to praerw snY riyhts in tM Cotlstsral spainst prior parties and Msker sh~ll iake all n~assary s[eps for wch purposes- TM Bank or i[s
naminN ne~d not oollect int~?est ort, Cr a ptir~cipal of, any CoNatKSI or pivs any notice~witfi rap~Ct to it. ~
!
q The Bsnk msy continue to hold ~nY Co1latMal d~osit~d hueunder afRer the paymsnt of this Not~, if at the tirtx of ths payment and disehsrq Mrpf sny of :
~ eM par[i~s IiaW~ iw tM payrr~mt hK~of ~hsll b~ ttan dinctly a continysnNy IiabN to tM Bank as Msker, endoner, wrety. 9uusnta or accommodation Ps~tY . ~
ot any otf+K not~, draft, bifl of ~xdwnp~, w od+~r ie?strumN+t, or otMrwis~, snd the Bsnk may tM.~her ex~?cise afl righn with r~qct to ssid Colliuwl ~
granted herein tveo thagh this Not~ shNl havr bNn w.-r~adered to tM FAdw. ~
~ If tlw 8ank d~ems iqelf ir?tatun a upon th~ happeninp o~ sny of tlN tdlpwirpnv~nts. each of whieh shsll oonnitun a d~fwtE. it1 tisbNi~ief ~ireh Msk~r t0
- tne 8ank, includinp tha ~ntirt ur~i~ principsl of thi~ Nonsand soputd intereat, less sny unwn~d inqr~st snd any intMest irt txptt of tfN m~cinwrin Nlow~d
~ hy ~aw and any wbstes rsqui~id by_ t~a' _ 1 inrn~stNy or~resftea at.tF~ion ot th~ Bank, ~xapt dlst th~ oawr~na oi Icl or (d) ~II csW~ automat;
~c accskrs[ion: without notic~~r t W~onrdw ind P~YrWt: td dIr fsNwNDt sny ObKpr to p~?fwrn a~y o0lig~tan, li~bility or dam to th~ B~nk, to ps1f,
~ inceresc h~raon within 10dayt afta it is dw. or it tf~e a no dw dst~, sft~r it is billed w otherwi~ ncp,at~d or dNr~~dsd. or to p~y sny othw li~bility whst '
~ soever to tM Ber~k wh~~ dus; lb) tM d~aM of a+1? individual Ob{gor, the dissolution of sny putnership Obli~or or the dissolution, rtwp~r a oonsdid~tion with-;
out tAs Bu~k's priw wl~it~n tatsant of any corpona OblqOr, (c) tM iilirg Of ~ p~tition in bankruptey or tAe adjudicatiot~ ot insohrenty w Wnkruptty und~r~
' any rtoryu?i;itwn, arr~?q~rntnt, ~wtrtrnt ot drbt, ditsolution, liquidstion o? simiNr ixoc~ctirq wder any Fad~ra~ w ttat~ sUtuu, by or pNtKt inY.
` Obl~qo?: (d) ~n sppiicalion tor th~ appointtnent of ~ f~p~i+w~ tor, or tM rtrkinq ot a ys~rsl suipnnNnt for tha bernfit of cr~diton by. arty Obliya: (d tM a~trY'
i of ~udqrrrnt sysintt s~Y Obli9a: lf) tM ipuinp o/ snY att~oAnNnt or q~mi~hm~nt, w tM t8inp of snY ~i~n. +9M~ ~~II P~~Y ot snY Qblgor: ly) tM t,~kirq ot
possusion of sny wbstantial pKt of tlu proppty ot any OWpa at tM ir~sunoe of any powrnrNntal wthaiq: (h? .th~ d~tKminatian by Me 8u~lc Mat ~ nwari:
a1 a~verp a?anqa hst oocurr~d in tM finsnciat eoe+ditiw~ d sny Obfgor from tht wnditions tet forth in tM moit repnt tinantisl sqttrtrnt M~fi Ob~qor ;
bs~stotort furnitlf~d to tl?e Bank, or from t1a conaitio~ of wd~ Obiipor s~ lwntofore mwt nantly d'MdoMd to ths 8ank. a tM~ a~ryr warcantY. i~xw~?acion. ~
ca.i~ficsn a stst.nw+t of ~nY Obli~or IwNaAv ooncainrd in Mi~ Nou o. nod p.~uininp co a in connecKioe wid~ cha Noa o. che Iwn ~vid~na0 bv Ma koa '
; cOntaiM an unt~u~ stat~rtNnt of ~taiN t~et or omits t0 strte +~iKiat 4~Ct ~Y ~n orde~ to nNkt tl» stiten»nts n~ not miNNditp: o?, 1i1 tM M~ip+• :
' men~ bY +rw kylw of amr puity in sMr oi cht Coll~ural without th~ Prior writc~n corotnc of tM 8ank. :
~ :
Th~ Bsnk ~hsll hav~, but shsll ~ot b~ IimitW to, tlN tollowinp rghp. eaeh of whicl~ may b~ ~xKCi~d at ~ny timr wMtMr or not tl~is Noa a dw: (i! to
~ p1Mp~ o~ tnntf~r t1~is Idot~ snd th~ Co11atKN and tM Bsnlc thstl thenupon M relN+~d of sll duti~s and ~aportsibilitiq MrwndK ~nd rNiewd hom M~y snd MI j
~isbility with rpqCt to sny Co1lst~rsl ~o pNdy~d or trintt~rrM. snd sM? PNdi~e w tr~ntt~cN sFwtl tor sll purpoWt ftand in tM P~ of tM BMik hKMUnd~r snd ~
~ hav~ sll tM riqhts of th~ Bank I+K~undM: lii) to trsrKf« tlw whoN or ~ny p~rt of tNt Collst~rai into tM nsm~ of iwlf or its nomirw: {iiii to w/~ t1N CollaLersl; ~
(iv) to notitY cM dbtfYas of my ColfsurN to mdn WYm~nt w th~ 8anlc M anY amouna dw w to dw th~non: Iv to dM+wid. sw iw, oalMet, o~
UN
~k~ ~ `~*R'BTNK~ as~use~ ~er`ei~n `m~eans ~'ur~e~Ree~`'~~`"ssoc'~a~es
; ~~/o ~ a's~,
gns'a` ~ ca~..,~.
` 'AGE ~
NOTICE: SEE OTHER SIDE FOR IMPORTANT INFOR~lI~T~ON E
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F95 752 Rw. 7/77 . ~ -
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