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HomeMy WebLinkAbout1678 INSTALIMENT NOTE (Secured a~d Unsecured) ~ Noro No. Daied: 1~ ~'~arch 1975 11 Narch 80 8, 701. 20 _ Due: - - ~ - 19 toan Terms: Proceeds S O~ Si~V~ ~0 •------------SIXTY (60) MONTHS•------•----• _ - FINANCE = 1~846• 56 after date the undersigned, herei~after called Maker, jointty and severally CHARGE 13• Za promise(s) for vatue received to pay to the order of Jensen Beach Bank here• Oocumen~ary t _ inafter called Bank at its office at J~osen B~ach Florida the sum of (total Siamps of payme~ts) •-j--•----•~-`-•- •-j••-•-----•----- C~editlife(orlife Eight Thou~snd Seven Huadred bne and 20/100--•• bDisability)Ins.t 32b.44 _ . _ _ - - - - - - - Other (itemize 1 . ~iia,: Losn Fee• s 5.00 w ~nterest fhereon at the •afe of 91 9o Per annum, all payable in s moNiily ins?aflments of S 1? i'Aprileach un th~5 day of = each successive month commencing on , 19 , together with a BAtLOON PAYMENT OF S Due AMOUNT ' 19 ~ FINANCE~ = 6.839.64 _ A fine computed at the rate oi S 0: per S1.Q0 on ea:h inital'ment in defau~t for ~parately collected a period in excess of 10 days may be cha~ged tf~e Maker. No such (ine shn11 exceed 55.00. Maker is required to pav all cost! of collection, includ~ng a reasonabls attor- charges (itemize) s ney's fee if referred tor collect~on or leg:,l proceedin~s. Ai: ~.Jjtii'.:::~~, ::L`.4`, ~1 cipal, interest or otherw~se, not received when due sha~l beai ~nfe~est at 10°~o p~:~ S g~-41~`i annum from due date unti! pa~d. Af pa~ments made hereunder s!,a11 be cred~ted ANNUAI PERCENTAGE RATE % first to interest, then to lawful ch~~ges tnen accrued, and last to p~:~~!ipa!. If the loan is prepaid in f~ll, a:celerared o~ refinanced, the Maker shall as of rhe date of such event receive such refund of the un- earned po~tion of the c~edit !~ie insurarce premi~m nnd finance cha~ge a~ d wct~ other credit as may be required by law or as may be necessary ro avoid usury, pr~vided that the Nolde. may re+ain a mir.mum finance cl~arge of S25Q0, whe~her or not o~herwise eamed, and except in tfie case of a re(inanc~ng, no firar.ce cha~ge or premium ~efund shall be made if it amounts to less than 51.00. Retention of any minimum iinance sha'~ be in add~non to servi,e char,~e if an,• Any lanyuage elsewhere he~ein to the contrary notwithstanding, ~eitFier Bank nor any holder hereof st,all ~e:e~ve or reta:n any d+arye or ~nterest r,of allovved by law. As securit for the ayment oi •his n~rr N,~ker has p~edged or depos~red ~vlth Bank the followin ro r I'Ot NO• 95?~ Section I~, in t~ist certsin condominium kaowa as OUTDGOR F~SO~TS O~` A~vi~~ICA - _ - - . . _ - AT NETTLES ISLAND, as described in •sid mortgage. (;n;luding all cas!~, stock and otner dividen:. and att r;g4:ts ±o zu:~zc.ibe for secur~ties incident to, dedared or granted in connectio~ with such prope~ty), which pro~rty, togett,er ~nri!h all add~tions and substitu~;ons t,¢reafte~ p~edge~l or depovted with Bank is called the Col- lateral. Tt:e Cotl>rc~a~ is also pledged as sew~~t~ fo• oti:¢. I;ab~!~Nes to Bank. (prima.y. Secondary, d~rect, contingent, sote, jo~nt or se+er,~p, due er to be:eme due or ~tiL~~:i~ may be h~~re3fter -onh.ac+cd er acquired, of each ~,Aaker (or of each Maker and any other per- son) The _urrender of this note, upon pa;menr or ot'r~.erw~se, s%~~II not a11ea the right of Bank to retain the Collateral for such other I~abilities. CREDIT LIFE AND CREDIT LIFE & DtSAB{LITY ~NSURANCE ARE `JOIUNTARY AND Ij'~~ Rfy~11RED FOR CREDIT. Such insu~ance coverage is ava~lable at ti e cost designared be'o.Y ~o~ the te~m of t~ e credit: (a) S for Credit life In- surance (b) S for Credit Life 6 Disabitity Insuran,e Check ~OE L. Alexanrier Appl. ~Q Credit life Insurance ~s desired cn t~e ~ife of eox U8~V7/Zj Birthdate " Credit L~fe & D~sability Insurance is des~red on B~rthdate , Credit Life artd%or Disabi!ity Insurante is not desired. Date: lO MarCh 1~T~ 5qnature _ Signature Additio~s to, reduct~or.s or exchanges of, or substitu~~ons for the Collateral, payments on account of this loan or increases of the i same, or other loans made partiaily or v:ho~ly upon ti,e Co:'atera!. may from time to r~me be made witnout affect~ng the provisions of this nate. Bar.k shjl{ exeruse ~easonable ca+e in the custody and preservatlon of the Collateral to the exter.t required by applicable statute, and shal{ be deemed to have exercised reasonab~e care if ~t takes wch action for that purpose as Maker shal! reasonably request ~ ~n writing, but no omissio~ to do any act not requested by Maker sha!! be deemed a faiture to exercise reasonable care, ar.d no omis- r sion to comply witn any request of Maker shall of itseff be deemed a faifure to exercise reasonable care. Bank shall not be bound to ; take a~y steps necessary to p~eserve anv r~9hts irt the Co!!areral agamst prior parties and Maker shall take all necessary steps for such ~ purposes. Bank or ifs r,ominee need nor collect in?erest on or pr;ncipa! of any Co~!ateral o~ g~ve any notice with respect to it. ~ If the Coltateral shall at any time become unsatisfactory ro Bank, Maker shaU w~rh;n one day after demand pledge and deposit ; with Bank as part of the Co!~atera! additional property wnich is satisfactory to Bank. 3 If Bank deems itself insecure, or upon the ~ appenir.g of any of t~e foliow~ng events, each of which shall constitute a defauif here- f ~ under, all I~abil~fies of each Maker to Bank sha!I thereupon or thereafter, ar the option of Bank, withou! not~ce or demand, become due z and payable: (a) the failure of any Obf~gor (v.hich term shai! mean and inc~ude each .+Aaker, endorser, surety, and guarantor of this y note) to perform any agreement hereunder, to pay interest hereon w:thin ten days afte• it ~s due, or if there be no due date, after it ~ is billed or otherw~se reqoested o. demanded, to pay any o'her t~ab:!iry whatsaever to Bank v:hen due; (b) the death of any Obligor; k (c) the filing of any petition under the Bankruptcy Act, or any s~milar federa! or state statute, hy or against any Obligor; (d) an applica- ~ tlon for the appointment of a rece+ve. fcr, ti,e makfng of a general assig~mem for the benefit of cred~tors by, or the insolvency of any Obligor; (e) the entry oT a~udgement aga~nst any Cb!igor, (f) the is>u~ng of ar.y attacf~ment or garnishme~t, or the filing of any lien, ~ aga~nst any p~opertv of any Obi~gor. {g) the taking of possession of any substantial part of rhe property of any Obligor at the instance ;,j of any governmental authority; (h) tne disso~ution, merger, consolidation. or .eo:gan~zanon of any Obligoc, (i) the assignment by any ~ Maker of any equity in any of the Coflatera! vv~thcut the wriften consent of tt,e Bank. Eaih ObGgor hereby waives any reqvirement of notice or demand ref~ect~ng such acceleratfon irsofar as sucn requirement be in addition ro the mere exercise of any remedy affor~ed in ;=j this Note or the inst~tution of svit by the then hoider. - ~ Bank shall have, but shall not be limited to, the follov.ir,g r~~hts, each of which may be exercised at any time whether or not this ~ note is due: (i} to plsdge or transfer this note and :he Cot~ateral and Bank snali thereupon be relieved of all duties and responsibilities ~ hereunder and relieved from any and al! '~ab~lity with respect to any Co!lateral so p:edged or transferred, and any pledgee or trans- feree shalf for all purposes s+and ~n the p'ace of Bank hereunder and have alt the .ights of Bank hereunder, (ii) to transfer +he whole ~ or any part of tne Collatera! ,nto rhe rame of ~?self or ~ts ncmmee; (n~) to vote the Co~~ate~al; (iv) to no!ify tne Obligors of any Col- latera~ to make paymem to Bank of any amourts due or to become due thereon; (v) to demand, sue for, colled, or make any compro- ~ mise or setHement ~r deems desirable with refe~ence to ti~e Co.laterat; and (vi) to take control of any proceeds of Collateral. Bank is hereb rven a!ien u n and a securit inte+est in all ro rt of each Obli or now or at an time hereafter in the s- r,z y g po . Y P Pe Y 9 Y Po sess+on of Bank in any caoac~ty whatscever, ~nclud~ng but rtot limited to any balance or share of any deposit, trust, or agency account, as the security for the payment of this note. and a similar iien upon and securiry interest in all such property of each ARaker as security ~ for the payment of a~l other liabi!ities of each Maker to Ban~ (induding liabilities of each Maker and any otFer person); and Bank shall have tne same rights as to such pro~erty as it has with respect to tre Co!lateral. if Bank deems itself insecure or upon the occunen<e of any defauR hereunder Bank shall have the fo~ec(osure and other remedies of a secured pa+ty vnder the Unifo~m Commerc~ai Code, or other app~icab!e law and, without limiting the generality of the foregoing, Bank shall have the right, immedia~ely and witF.out further action by it, to set off aga~nst thiz note a!I mo~ey owed by Bank in any ca- paci!y to each or any Maker; ar,d if suc%~ set off st~ail occur, Bank st~ali be deemed to have exerused such right of set off and to have made a charge agains~ any such money fmmed+ate~y upon !he occurrenre cf suc~ defauh even ihough such charge is made or entered '~3 on the books of Bank subsequent thereto. Unless the Co'latera! is perishable o~ threatens to dedine speedily in value or is of a type cus'omarily sold on a recognized market, Bank will gi•.e Maicer reasonable notice of the time and place of any public sale thereof or of the time after whi:h any private sa~e or any ot~:er in!ended dispos:tion thereof is to be made The requ~rement of reasonable notice shall be met if such notice is mailed, postage prepa~d, to any Maker at ti~e address given below or at any other address sho~+~n on the rec- - ords of the Bank, a? least five days before tf:e time of the sa!e or dispos tian. Upon disposition of any Collateral after she xcurrence of any default hereunder, Maker shalf be and rema~n !~able for any defic~ency; an~ Bank snall account to Maker for any surplus, but Sank shall have the right to apply all or any part of such surpius (or ro hold the same as a reserve aga~nst) any and all uther {iabil~ries - of each or any Maker to Bank No delay or omission on the part of Bank ~n exerus~ng any right hereunder shall o~xrate as a waiver of wch right or of any other r~ght under this note. P~esentmenf, demand, protest notice of dis~:onor, and extension of time wiahout notice are hereby waived by each and every Obligor The Obligors, ~ointly and severally, From.se and agree to Fay ail costs of co~lecticn and reasanab!e attorneys f2es (not ~ess than 10°0 of !he pnncipa! sum) ir.curred er paid by Bank in enforcing !his note upon the occurrence of any default. "'~i Any notice ~o Maker sha~~ be s~ffiuently served for a!I pur~reses if leh upon or p~aced ~n the ma~l, postage prepaid, addressed to the ~j?2 premises at the address shown belolv or any ot'•er address shown o.: Bank's records. - Wherever this note is ezecuted by ~ eomaker or endorser who is the wife cf a maker or endorser, the said wife dces he~eby e:- pressly acknowledge the within debt az her ~oint and ind~vidua~ debt_ Each of Ma er ackpo~ledges r~c~j,p~of~completed copy of_ihis Note on the above date. w'°' i~ett~es ts ana; xr x JQE L. AI..~,~AT~I~ER _ - (seaq Address: . - ~ Jensan Eeach, Fla 33457 X _ t~*~J~ ETTY F. AI~EX.~1~7~~R_ _ (seaq F ~E167 BOOK ~J I A x.~ ~ y Ft»,." _ _ b~W'r+ r . . . . . . . . . - . . . - . , . . . .