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o.~; 27 July ~ 1975 p~ 1 July t' SO = T, 531.80 ;
~
. - ~o.~ T..rt?s:
~ t .....5,...625~40 - i
- ---•----SSXTY (60) MONIHS-------------- ~~~IA~ _ 5~-----~~-- ~
eft~r daro ths vnd~rsi9ned, F~rei~f»~ call~d Mak~r, ~ointty and ~ve?ally R~ i 1~40 }
promiie(s) for vaiw ~ec~ived ro psy to ths ordsr of J~~n w~ch ~aek hera ~ f----- i
inafh~ crtlsd 8snk, at tis offios at J~nw~ Macl~, lis~Wa ths wm of (total ~
of paymenr:) cndit~~(~Uf~ t82.b0
_~..__~..w~
s dr .._~rtY~Qne ~ad~ ~ ~i~
8~~00--------•--•-----•-•••••-•----••--. o~an
orh~ ci»mi~,~.-t
wHh inh~t tM~oei ~t th~ n» of __4~~Z--._.% pK sneum, dl payabl~ in Loaa Fees" S'~,_.____.~~~~
60 n~tfiN tm+.~u,~n» ot i_lTj~~2~._ e.d, o~ t~j 't dar of 9ya~
~ach suocssttw month oomnMnd on _._1 At1~t1aL 14_! 1op~tha with
a BALIOON PAYMENY OF f~ ~one ow~ N/A i 9______. ~ounT 4y
~N~I~C~ _ ~~00
A Nos computed ~t tM rals of =.05 psr 1.00 on ssch irutallment in default fw t^ 9
a w?bd in ~xau of 10 days inay be charqs~ tM Maker. No such fins shall ezc~ed ~~r~~M °°~~~d 1~'y
~ 00. lN~ker is roquirod ro pey all c~ts of collection. Includin~ a re~sa?sbl~ atto~ ~~i~j~~
(e9e P? ngs• PaYmenn, w1+stF+er prin-
ney's fee if refsrred fw toilection or 1 oceedi All
cipal, interssf or othervvise. not ncsived when dus shall bear inte?est at 10~ pe~ #------------..-_--~-~Z
annum from dus date until paid. All payme~ts made hereunder shail be crodited ANNUAL 'ERCENTAGE RATE ~f,
ftnt fo inferest, then to lawful cF+arqes then aarvsd. and last to p~iocipal.
If th~ losn ispre psid tn full, socslereted w roflnanced, the Maker shall ss of ths data of such evem recei+ro such rofund of ths un-
aarned portion af the cradit Nfs insurance premium a~d finance charqe and such oihe? credit as maY be rsquired by law a as m~y b~
nsossssry fo avoid usury, provided that ths Holder may retein s mi~imum finance dierqe of =25.00, whether or not otMrwise sarnsd.
and except in the case of s rofinsrxiny, ~o finance charye w p?emium rofund shail bs made if H amounfs to less than Si•00. Retention
of any minimum finance shsll be in addition to service-charps if arry. Any laoquaye eisewhere Mrein to ths ~?trary Rotwithstendt~q, -
nsither Bank nor aoy holder hereof shsll receive w rotain any charye w interest not sllowed by law.
As stc~rity 1or ths payrtKns of this note Maker hss p{eciyed or deposited with Bank ths followirq propsrty:
- ----------------------~~~~~~~d iu eaid mor~~e~_~__~~,~~~
- - - - - -
(:nclucl~ng all casF?, stock and oti~er div~clends and all riyhts to subxribe for securities incident to, declared or prsnted in con~sction with
svch property), whi~h p~ope~ty, together with all additio~s and substifutions fiereafter pledged or deposited with Bank is called the Col-
late+~ The ,ra! ~s also pledged as security 1or all other liabilities to Bank, ({ximery, secondary, direcf, contirpent, sole, joiM a? F
several?, due or to become dve or which may be hereafter co?~tracted or acqvired, of each Maker (or of esth Maker and any other per- .
son). The su?render of this note, upon payment or othe~wise, shall not affect the right of Bank to retain the Coltateral fa su:h othe~ ;
liabilit~es. '
CREDIT IIFE AND CREDIL IIfE ~ OISABIItTY INSURANCE ARE VOUfNtARY A T f~QUiRED FOR CREDIT. SucF+ insuranoe y
coveroge is available at the cost designated below fw the term of the crcdih (a) =~~:651______________________._______ for Gedit Lefe Irt- j
su~arwe (b) S----. . fw Credit life ~ Disabiliry Insurance: 4
Sllen B. Baker ~
Box
l_ j~CCredit life Insurance is desired on tMt life of
r-----
&rthdate ~ ~ ~ `9
Credit liie d~ Disability. lnsurerxe is desired on -
&ithdate
p C~edit life and/o? Disabitity Insuranae is not - - - .
~ate: - s~o~?~?a - , Al1en B. Baker
S~naturo _ ~ - Li1~ds Lee Bakcr
Additions to, red~ctans w exchanyes of, o~ tituY ns fw the Collateral, payments on saount of this loa~ or increases of the
ssme, w other loans msde partially w whol~y upon the Collateral, may from time to time be made without affectitg the provisiau
of thia ~?ate. Baok shalt ezescise roasonab4e care in the custody and preservation of the Collateral to the extent required by applicsble
statute, and shall be deemed to hava exercissd ressonable care if it takes such action for that purpose as Maker slwll reasonably request
in writin~, but no omission to do any at1 not requesTed by Maker shali be deemed a failu~e to exercise reasonable csro, and no omis-
i sion to comply with any request of Nlaker shall of itself be deemed a failure to exercise reaso~?sble care. Bsnk shal) not be bou~d to
i take sMr steps ~ecessary ro preserve any r~hts in the Collateral against p?ior parties a~d Maker shall take a~l rteeessary steps fw such
i purposes. Bank or its naninee need not co letf interest on or printipsl of any Colleteral or give any twtiae with respect to it.
! If tFie Collateral shail at sny time become unsatisfadory to Bank, Maker shal) within one dey after demand pledpe and deposit
with Benk as part of the Collateral additional property which is satisfactory ta Bank. `
If Bank deems itself insecurc, or upon the happening of any of the following avents, each of wtiKh shell constitute a defauk here-
under, all liabi{ities of oach Maker to 8ank shalt thertupon or thereafter, at the option of Bank, withovt notice o? demand, become due
and payabk: (a) tha failuro of any Obligor (wfiid~ term shall mean ar?d ~nclude each Maker, endorser, surety, a~d 9ua~antor of thls
i
note) to perform any agreement F?ereunder, to pay interest hereon within ten days aher it is due, or if thero be"ra due date, after it
is bifkd vr dFierwise requested or demanded, to pay any other liability whatsoever to Bank when due; (b) the death of any OWi~or,
(d M~e filinp of any petition under the Bankruptcy Act, or any similar federal or state stetute, by or against srry Obtiyor; an apaKa-
tion for the appointment of a receiver for, the making of age neral assignment fw the benefit of aeditors by, w ihe insolven~y of aMr
Obliyor; (e) the e~try of a jtrdQement s~ainst any Obligor; (f)j the issuing of sny attschment a gsrriuhment, or the filinp of any lien,
aqainst any property of ar~t Obli9or, (g1 the taking of possession of any substantial paM of the properly of any Obliya at the instanoe
'~i of am? yovernmenta) authority: (h) the dissolulion, mer9er, consolidatio~, w roorpanization of arry Obliyor: the suiynrt~ent by amr "
AAaker of any aquity in any of the Collsterol witfiout the written consent of the 8ank. Each Obligor hereby waives any requirement of
nefioe or demand reflecting sud~ aoceleration insofar as sud~ requirement be in addition to the mere exercise of aMr rcmedy afforded in
this Note or the iratitutio~ of suit by the then fiofder. .
Bank shsll have, but shall not be limited to, the following rights, each of which may be exercised st at?y time whether a not tfiis
note is due: to pledye w transfer this note and the Collateral and Bsnk shsll thereupon ba rclieved of all duties and ~esponsibilities
n
F?ereunder and rclieved from any and all lisbili with'respcct to any Collateral so pledged or trainferred, and arry pled~aa w trans-
i feree shall for all purposes stand in the plsoe Bank herew~der and have all the ri~hts of Bank hereunder, (1~ ro transfer the whob
I or anY part of the Co lal te~sl i~to the aame of itsel4 or iss r?om9nee; (i~y to vote the CoHaiarof; Crv) to notify tfie Obli9ors of sny Coh ~
~ lateral to mske payment to Bank of sny amounts due or to become d~e thereon; (v) to demand, we ~or, wllect, or mske sr~y canpro-
; mise or settlemeat it dee~r+s desirabb witfi reference to tfie Cotlaterai; arx! (v~ to tske control of erryr procaeds of Collateral. ;
i Bank is Fiereby given a lien upon and a security iMerest in all properly of each Obligor now or at arry time hereafter in ths pos- `
sesian of Bank in any capscity whatsoever, includinq but not limited to any balenae or sharc of arry ~deposit, trust, wayency aaouM, ~
F as the sewrHy for the payment of this note, snd a similar lien upon and secu~iry interest irt all wch property of each Msker si secur~fy ~
fw the payment of all othar liabilities of each Maker to Bank (includirq liabilities of each Maker and any other perton); a~d Bank shall
i have the sart+e riyhts as to wch property as N hss with respsct to the Collatenl.
If Bank deems itself tnsac~ro or ~pon the occurrenoe of amr default F~erourxler Ba~k shall hsve the foreclosuro and other remedies
ef a secuted patty ~nder the Unifotm C.ommercisl Code; w other appticable law and, wirhout limiting the generality of the forsyoinp,
Bank shall have tbe ripht, immediately and without further action by ~t, to set off ayainst this rate ali mooey owed by Bsnk m any p-
pacity to each a any N1ak~r, and if wch sat off sfiati oocur, Bank shafl be deemed to have exercised sucfi ri~ht of set off and to haw
made a chsrqe ayainst aoy such money immediately upon the oavrrence af wch defauM even tlwuqh such cnarye is made or enterad
' on the books of Bank wbsequent thereto. Unkss the Collateral is perishable or threaterts to decfine speedily in vslue or is of a ryps
customarily sold o~ a recogmzed market, Bank will give Maker reasonable notice of the time and plaoe of any puWic sab thereof or of
the time aher wfiKh any private sale or any other intended dispoaition thercof is to be made. The reqvirement of rcasonsble notios shall
be met if such notice is maikd, pestsye prepaid, ro any Maker at the address yive~ below or at any other eddress shown on ths reo-
ads of the Baok, at least five deys before the time of the sale w disposition. Upon dispositio~ of amr Collateral after the oocurrence
' of sny default hereunder, Maker shall be and remain liable for any deficiency: and Bank sha~l accovm to Maker fw any wrplus, but
Bank shali have the riyht to apply all or any parf of s~ch wrplus (or to hold the ssme as a reserve sqainst) any and all other lisbi{itiss
of each or s~y Maker to Bank.
No delay or omission on the paA of Bank in exercieiry any right hereunder shall operate as a waiver of such ri9ht or o4 sny other
ri9M under tfiis note. Presentment, demand, protest, rwtice of dishonor, and extension of time witho~t notice are ~ereby warved by
each and every Obliyu. The Obliyors, iantly and severally, promise and sqree to pay all costs of collection and reasonabb attorneys'
fees (not less than 1096 of the principal sum) irxurred or paid by Ba~k in enforcing this note upon the occurrence of a~y default.
Amr notice to Msker shall be suff~ciently served for all p~rposes if kh upon w placed in the rtail, possege prepaid, addressed to tt?e ~
premises at the address shown below a any other address sFawn on Bank's records. ;
' Wherever this note is execueed by a co-maker or endorser wfio is the wife ot s maker or endorser, the seid wife does hereby ex- ;
' pressly acknowl~dge the within deM as her joiro and individual debt. {
Esch of Maker adcrwwledpes rcaeipt of a tompleted copy of this Note on above date.
3240_Sentinel i:eight~ Road X _ ts.ap j
-A e arcer ~
Lafayette, NeR York 13J94 , :X ~l-,~
w~nusra~ y Lee Bake 800K~`~~ PAGE
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