HomeMy WebLinkAbout2629 . D .~Jt/-w~! ~.•.JUU-Itcu~Jer I~u~u: F~i• 1~~~• Syslcma. N.+a l89:7. T~n~{.o 3JU19- tl/~-79J{ 11.MY t rVI1R~6 IL 11'~ii ~I'tCtAl
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RECORO VEP•~itEO CO~~T
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COLLATERAL INSTALMENT NOT~ {
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- 57UART. FIORIDA_~JAYC~,___~ iv_~ Y_- a
Th~ undasignad (and if mon than on~, eacA ol lh~m ~olntly and s~v~~ally). hereinalt~er callad "Makrr" pru~nisu~ tu pay to tf~e o~d~~ u)
- BANK OF STUART
t._re~naft~r talied "Fia~k" at its otllc~ at STUART, FLORIDA (o~ at such olher place as tl~u holUnr h~reof rney deaiYnata) Ih~
o~_Nine thous,~nd three hundred ei~h~ S@V@R 8c_f0~1.~~~~~~~ DOLLAItS ITOTAL OF PAYMENIS) u~__G~ __.n~onthly
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i:.,~,~meids of :~~~.Z3 exh. on thu ~_-----__-_dry ol eaN~ successiw month c~m~nanciiig on.M.~~'~_- 19~ L.
t. gather with s BAIIOON PAY4ENT In th~ smount of : Tlc~ne ~~a 19___---• The tundi•
t,.:~~s. il any. (or ralinandng iM Dalloon payment s~e_ NA• A11 p+ymc~ds
.,.fr hsraund~r shall I~e c~ed~tad I~rst to interesl and lawlul char~es lArn :.ccrued +nd the rumawJar tu p~intipa~. ihu amount ot lt~~a u~•te ~ncluJas
r of f -1~t:10------
ir ~ procarus o( Z_Z~~1Q•QQ--PIus other cha~ges lOescribo)~CU1t1L~l1~t3L'~-.~~$[11j?~-----
~,_~~~~~~g ~o an AMOUnr tINANCEU ot =?~~~14_ Pws a FINANCE CHARGE o~ t~-'0?~~50______lwr~~t~ .,m~unt
_i..Je3 intarest ot =_'LQZ~a~_--.~nd crcdit ~iro insunncs promium o~ ~hlone ) resuuin~ in an ANNUAL PERCENTAGE RA7E
~i 1~~~. Ths Maktr hes th~ right to prepsy tnis loan In tult a~A oWain a rofund of the unearnsd porUon of th~ Gnancr che~ge cumputrd unJc~ thu "Sum
tho D~~~ti' mslhod.
As used here~n the term Collateral" shall mean and include tl~e tollowing property which has been or is hereby pledged, assibned
cr conveyed to. or deposited with the Bank: lst Mtq. on Lol 1~239, Section II in ttiat certain
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~t nt }:~~dn as pU'~jX~()R 12F~n~?fiS OF At~ERI~A at Nettles Island, E'la.
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~ id ~ny and all other p?ope~ty ot every kind or description now or hereafter in the possession or under the control of Rank fo~ any i
r.:.~n, together wrth a0 addrt~ons and substrtutions hereafter pledged to or deposited with Bank, and including all cash, stock and
c:!.~r diviJends and all rights to subscrebe for securities incident to, Jeclared, or granted in connection with any property herr~n~bora ~~f
~fGed or reterred to. As used herein, "liabihty" or "Iiabilities" means and includes this note aud all obligations anJ leab~tit+es ~1
r~n.ary, secondary, d~rect, contingent, sole, joint or seve?al), due or to become due or which may be herea/ter cuntracteJ or ac- :
~;.,,r~J of each M~kar (~ncludmg any Maker and any other person) to Bank. Maker warrants and a~reas that L3:,nk f~as and shalt i
t.;v~ a lien upon, securiry title to and a security inte~est in alt the Collateral as security ~or the payinrnt ot this note and aU liabili- ~
t:~s, including any extansions, renewals or changes in form of any thereoi. The sunen~er uf this nute, upon poyme:nt or oU~erwisa,
;.,U nut atiect the ri~;ht ot Bank to retain the Collateral for any other liabilities. _ ~
CREUIT UFE AN'J CFiE01T UFE 6 DISADILITY INSURANCE. ARE VOLUNTARY AND NOT REQUIREO fOR CREDIT. Such inauronca cover~ge Is availaLln at the ~
,,.,t ~eai~nated Dclow (or the term o( the eredit: (a) ~ lor Credit Lile Insurance (b) f lor CreJit Lifa 6 Disability Inaurance
Credit Lifa Insurar.ce is desirai on thn lile o( BiAhdata
C .ii ~ _
t+' Credit Life S Disabi6ty Insurance is dzeired on - ;
Cred~t Life and/or DisaGlity Insurance is not dasired, ~
C:,tr)__ (Signature) -
Additions to, reductions or releases or exchanges of, or substitutlons for the CoU~terrl. paymrats on account ot tRis loari 9 incrrasrs ot the ~ame ~
ucnnr loans made portielly or whu~ly up~n the Co~lateral, msy from tlm~ to t~ma D8 l~Id~SC wrthuut atte~,Ung the pruvia~uns of th~s nuta. Bn~~k sball
.~r.~sr re~so~abla care ~n Ihe custWy and preaer~abun of tha Collalenl to tt~o exlent reyuirod by applic.ble statutr, and sball bd deernad to I~~ru
~ ~_„rd reasonable core if it taAes such acGon tor lhat purposa as MsAtr shall r.?asonoblY requrst ~n wnting, Gut ~ro omies~on to do any ..ct not
~>ted by hlaker shall be derrneJ a failurn to exe~c~se ruasonsbla care, and no omisa~un tu comply wrth any reyuest of Maker sh.,ll uf itsrt( tw
a tailure to e,zr..ise ~aawnoble care. Dank shall not ba Dound to takn any steps necessary to preservu any nghts in tt~u Cv1l~tcral ogai~ut
:~,arti~ss and Mahar si~all taka ell nrcdssary st~ys for such purposas. Bank ot ils nwmnca naad not collect irdtrcst on ur principal ol any Col-
..,~~al or gwa any r.ot~ce nitU r+spect to it. If td~e CWlateral shall at any Ume t?ecomo unaatisfacWry to Benk, Makcr shall wilhin one dey aftar de- f
piedge and dr;wsit with Bank as paR ot tAe Colleteral additional praparty whieh is aalisfactory to Bank. ~
fi~nk is harcby granted a security interest in aIl Property o~ each Obl~Ho~ (whith term shell ~nean and Include each maker, ioJorse~, surety and
E~~antur of th~s no~a) r;orr or at any time hnrnafter in the possess~on of Bsnk In any capecily whalsoover, i~cl~ding but not limttrd to any 6alance
.i.a~e ot any d~p,:s~t, t~ust, o~ agency accuunt, as aecurity for lhe payment ol lhis note, auJ a similat sawrrty mterest in oU wch prupeRy of
Maae~ as securdy tor the paymrnt ot all othzr li:abhties; and Bank shnll Aave tha s~me ngAts as to sucl~ p~operty os it h:.s w3h rtspzd to ~
t, CuilatoraL The hufJer of this nole may at any t~ma, whether or not lh~s note hes matured, char6a any ~ndebledness repre.ented by th~s nolt agains! any ~
..~t occouut, g y I an art or a0 ot sniJ accaunt ~
gc~~n~al or special, ot ony oblidor hnreon, return~n ar, unearr:rd iulern~t ur d~xount; but (adure tu app y y p
c.~a ~wie cr to ei~iorca any of the rigbts he~ein gwen the huldnr sh.aEi uol aftcd tl~a l~etn~dy uf an~ obl~Kor he~n~n.
~ank shaU hava. L•ut shaH not be bmited to, thn tollowing rights. each o( wF~ich may be e,eercised at nny Ume rhether or not this oole is dua: ~
! i t~ ptE~ee o~ tr.:mfcr this nota and tl~e Coilatoral and BanA shal! thereuP on be rrlieved of all dut~es and raepur+libdd~es htrrunder anJ rclieved
t~~ ar.} nd alt I~~Ddrty w~th resprct to any Coll;ateral so pteJged or tren~lorieel, arJ ony plcdgee ur iransfcrcr af~~n f~r aq p~~W~es al.aud in lt~e
uf 8enk I~err~uJ~r and Ae~z all tne righte of i3ank hnrnunJer, (2) tu U...~sfer the Wb41C or any paA of t~u Cu?I~teral into tbc narne ut ~t.eff cr ~
~,.ri,~nrn; (3) W vute ihe Coliatnr~P (4) to rwtdy [he ubligors on any C~Ilrttral to mahe pey~ntnt to L'a»k uf on7 arnou~.ts du~ or to teco~ra due
(5) to dt~na~~J. s~e 1ur, culirct, ur makn .any Comprom~so or sclUr~ne~~t it dneina Qts~rable wilh rn~nrtn.c to tha. Cullatc~~l; and (G) to Wk~s
,..~>,ion and eo~~t~ul of any procceos o! Coltaterot. ~
The Aappenind ot any of lha (ullowing eve:~ts ~hall constifute a det~ult hereunder: (a) failure of any OL~~~rur to pay in Full any instalmtnt
h~reunder p~wn~:Uy nhcn it Lecomes due: (b) failure ot any Obiigor to pay in lull when due any ~ndrtt~~ness, obhgaUCn, or ~~.+bilit~ tu 3ank ~
.~.i,:~~vrr, ur any ~~•stel~nent tnerrof or interc~t tt~rreon; (c) Inilure of any OLligor tu periorm eny agrenmrnt Au~..nder, (d) thc de~th of any Obligor,
.,.~y ODligor Dacomes i~iwlvent ur any insulvoncy procntdings (as said tetrns "~~+wlvnnt" ana "insolren~y procc~.:~nLS" are aefiueJ iu tl~e U„~torm
i~,.:rc~el Code? are Instrt~ted or made Ly or aKa~nat any ODlig or, O~ applicatinn lor It~~s appoint~nrnt of a re~Ervtr iu any -OLligur Or for any ot tho ~
ul any Obligor, (f} the iswing ot any attacl~ment or gar~ishment, or tha hling of any linn against any pro;.e~ty u( ar~Y Obl;gur.
It at any time any warranty, representation, certificate or statCment of any Obligor (rrhether contained in 1Fiis nota or not) pertaining to or in con• ~
.!~~n with this note ur the Io.+n or cred~i evideoceJ ~y tAis nole, is not trun, or upon the happ~ning o( any C~~ent o( dcfault as defineJ huein. Or i(
.,,t any time fcels in>rare tor any reasun whohocvar, (i) lhn ainount uf all lawwl char~es and lha ainount ot tl~e u~igin~t prinup~l ~um Iwnad
~ .jer tugeth~r wcll~ intarest on the L.,lance lhrrno( remrin~ng from timu lo fin~e unpaiJ at thn tugAuat la•+Aul r~te. less all peym•:ub that have
, . n~aJe htreunder, ap{,lied, at the date uf nach such pay~nent. to accruril I~wtul chargc~ enJ W ~ntnros[ at tt~n h„nesl lewt~~ rate on sa~d unpaid
~.:N~1 Dolancn 0nJ tArn to prinupal, Si~all brcomn due anJ payabte to~thwith Or U~e~nafler at the optwn of lLn Bn~~k and w~tLout noUce ar a.;mond
no event antl undcr no urcuo~stanc~s shall F3ank oi any holder Aereof be eutiilud to unactrued ~r unearne9 interest ur other chargcs, and :n no
t anJ under no circu:nslences sholl B~nk or any hotder hereof be entftltd hertun~e~ lo reccivr at any time any cna~ges not alluwed o~•prrmiltcd
.v or ~ny (otereot or lnltreal r.,te m excess r,f tha rnaaimum al~owed by lav~); Oi) 4ank ~nay, at da option. lhnrr.~p'.n or lAer~safter dir.lare a~f otl.er
~ ~.eira. or any of them s<lacteJ bY Dsnk (oo[witholanding any ~iruv~slons iktreot), ImrAid~elely dua ind payaLle w~tr~out dnmo~~d or rwtice ot eny
...i .:.u[ v.rth auch ~~l~uo~mer~la. ~f any. wNh reapect to any inlereat m Wt:rr cRrrges oi u~sy bt pro+WeJ tor ~n 1he {.ro~nissory ~w[e ur olncr ririb:~g
,,,.i.~g such liebilrty): 4i4 Oank yhall heve and may exercise vcitt~out demand any and all the ngbb and ramed~es grnotru to a sc~.~rad p~rty
; al~ult under ll~e Undorm Commnrciel CoJe ur olhervrise avail.:Dlt to tie~~k (including those a+eJable uniler any wnlten instrumrnt in a.IJiti.n
t:. s nvte relating to auy ot lhe GaGihties or any securitY lherelor) and. wrtl~uut limiling ihe generel~ty o( tbr loregmng. E3ank sL.sll have the ~ight,
~;ba[n~y and withuut tuAher action by it, to set ott against l6is note all money owed Ly Bank ~n eny capauty to eech or any OGli~or, whether or
~ t. e. and also to nnt oft against atl otf~er li~bilrties of eacA Maker to Oank all monry uNeu by Bsnk In any capac~ty to eacb or oi.y MaM~r, and
,t~~U Ce daen~rJ to have exercised such rig~t ot se4o1( and to have maJa a cha~ge ag3inst any Sucb money ~mmediatelY upoo tt~c ocwt-
_ cf su~A dcfa~ll or oU~er evnn( even thougl~ wch cAargn is ma:fe or nr,tered on the GrK.As ol Dank subsnquent thereto; anJ (iv) tbe ULl~gors,
e.~ ~nd severally, pr..mise and .igree to pey :.II eYpenses of Benk In the colleclio:~ ot this nofe ~nJ in the eu(urcernent ot ri~l~ls here~.~~der and
~r.~, ~-nl~rcemant ot nglrts unoer or with respect to an~ of the Collnlerel, i<<cl~ding rtswnat~e atlumeys' fees. Any 4rucntds af aov Coll~teral or
y Jiyposrtion tf ony Coilaterat may be app~~ed by Elank to tha petment of expo~~sea iu connNCLon with thr Coil.,ttrol, inctuct~ng ~e~lur~aWe
ry~ f~na and I.:gal exycmes. It any m~tilicalion of ~ntrnded Jispo~~ciun of any ut ILe Collateral is rcyuired by lew, a11 rtyuiremtnts of ~e+s•,nnWa
: sh~ll Lt «~et. a•~:1 wcA noticr suall l~ d~r~neJ pro~erly g~ven, it aT lenst fivn J.,ys O~lure such Oisponilion ~~~ch noticr, is eer:c f o:~ Maier
. ~ ma~uxr I.Efc~f:3tl~r provfJed. Upon d~.po.ili.,n ot auy Cullateral Makcr shalf Ge anJ rcrnam uable iur any def~cier.ty: and Bor~k •batl account
r,,j _...:ker I~r any w~yl~:.. L•ut llank Shbll hore 11~e rigAt to appl~/ .~II or ar•y Gart of such surplus to the paymmd ol any I~a~~iiGes r~h~tl~er or oot
~ ..r any ot tl~ern. L.: [hen dua, and in ~~ch orde~ o( apaGcation Bs U~nk t~~ey Irom l~rnn Lo Ume tlntt. ~
Nn de:ay or ornis~+on on the Qirt of Eia~:k in exercising any rigl~t Aertun~t.:t sl~alt oper te as a weiver o( such ri6ht or Of an~ othrr rigAt unuer
~ - , r.otr. I~ more th.in uue party shall exeate this note. the te:+n "td.,krr' shall mean ~II parlies sid•~ing lh~~ :r~te .~od each of U~~rn. 1o:ntly aud s.:v-
~ ~ Ae used herc~n. ihr ei~.~;~let shall in~l::de the p~urel and tRe pl.u~l s1~~H ~•r.~n :,nd inciude the s~ngu~ ar, an:l a*,y pronoun. uf whal~rer ~enGar. ~
~ fr~;~u:le dll 6~,i.lers Any notice to Maher ;liall Ge sulficiertfy served t.;r ~0 t+~ Nos.:s if p~accd io tt:a rna~l. pc.tnge prepa~a. addr.:~:e.f tu, ur
, ,;~,o thn pramiscs ot. the aU.7~~as aho~.n hercon at any ott~er adJr~ss a(i~.eann$ 0~1 b.anii a rntords.
A!~knr acknuwledjcs receipl ot a completrd c.~y of fhts note on tF.o :+~+.ve u a. ~ ~
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