HomeMy WebLinkAbout1964 nw~ ~o. vaf~el: r 19 DY~: nr - ~ - -
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STATE DOCUMEN?ARY StAMF'3 ATTACNED toan T~rmt: :
TO ORIGId/~!{Q~F~A''i~
Cw~NCEILE_D i ) ~ '~ITH~ - - - ~ ProcNds : ~i.. i
.:~11~1
, ~ ' ~ _ . ~ . ~
~ • ~ • NNANCE ~ _ ._.~a_~'' }
~h~r dah the und~ni~nsd, Mroineher called Mak~r, iointly and ~wrslly ~R4E ~ ~
prom i~l"ij tor vaiw recawo io .
N.r arder of Hn~n b~~d~ ~aelc hera ~~~+~Y i ~e~"~ ;
1naN~s-rall~d Bank, et Itt oHks st J~~n i~ach, t{edd~ ths sum of (rotsl ~ ~ ;
of peYmen I ~
~ - _ - - -
~ ~ - ~ • - C~ ~ it Ufe (or L(fs
, _ _ ` . - . ,
N e liou anu~ i~ tiuncire~i 'la?enz -I'ive ~nc~ ~ Di~bility)J~:~.r?-- o.~n~.T.-------• ~
.............~.._..___Y___._.___._.___..._~__.
o --------•-•-----------•-•----------ool~.., ~~v
- -.~r._~
with ini~~u~ thena~ at tM ate of _____Y~•.~% Psr annum. all ~bb in Of i ~ ~ s_..•••-•.--------V..._,_._.._
, wr C re ~,~~p~. .
nt = _..._.___.1 UO •
momhb ~ns~.~u,,.nts of s_119. .acF, th. daY °f _~p' ~
~ad~ suoo~ssiw nwoth aortrr~Kir~ oo 9._____... top~thsr with ri__,.od-~' i.. i
a BAIIOON PAYMENT OF i~_I~.~rn C----- p~,~ I~ ~ A-- ~ q-.~~. ~~NCW t----- 5 s~? _3 5. ~ 0`
A Hn~ oomput~d at tM ~ate of =.OS per~1.00 on each installment in d~f~ult for ~~~~roH ~d~
a psrlod in ~xo~ss of 10 d~ys may b~ ~r tFN N1~ker. No suth fins shell excaed
i5.00. AAak~r Is roquind ro. pay ~II wsn of cdlecr~on, includinq a roasonabk atta- ~fQf^iu)
ney's fM If nferrod for co~lsction a lsp~l proceedirps. All payments, whether prin-
dp~l, int~r~tt or a~IMrvvise. raf nt~ivad whtn dw shall bear iobrest at 1096 pe~ i-•-•-----•--•.~•
atxwm from dw date unNl paid. AH paymants m~ds herew„;ar s.l:a!! bs credited ANNUAL PERCENTAGE RATE %
finl to inbrosf, then fo lawful thuqes then acwusd, and lut to principsi.
If ths lo~n tspr~pa id i~ full, sacek~ated or rofinenoed, ~he Maker shsil as ot the date of such even~ reeeiw :uch refund of ths un-
e~rnsd porNon of tM cndit lifa insurance promivm and finance chsrpe and such olher credit as may be requircd by law or as may bs
n0o~s~sry to avoid usurY, provided that tF~ Holde~ may retain a m+n~rnum finance charge of ST5.00, whether o~ nof otherwise earnsd,
arx! exqpt Fn th~ uss of a rofinancir?p no finar?ce charye o~ premium refund shall be made if it amounn to less t!?a~ s1.00. Retention
of ury minimum finance shall bs in a~dition to senioe charye if any. Any lanqua9e e(sewhere herein to the contrary notwithstandiry,
~tthe~ 8ank nor arry holdsr Mroof shsll rsceive w rotain any cha~gs w interest not allowsd by law. c
A3 secvriy for ths payment of this note AAaker has pladyed w depoaited with Ba~k the followi ~
~W P?~~Y=
Lot 1~;0. -~.'~lj ~V~~~_~~s~n 3«ch..~~Q~~c~_~~_~escriued ia_eaid
mortga e ;
- - -
C~c~udi~q a I wsh, stock snd other dividends and all ~iyhts to subscribe for securities incident to, dcclar: w praroed in connection with
suthpr
operty), whith property, together with all additions a~d substitutions hereafter pledged o~ deposited with Bsnk is called the Col-
lateral. The Collateral is also plcdged as sec~rity fw ali other iiabilities to Bsnk, (p~imery, secondary, direct, continpent, sole, joint a
severaq, due a to betane doe or which may be hereafter contracted w acquired, of each Msker (or of each Maker and any other per-
son)_ The surrender of this note, upon payment w o~hervvise, shall not affect the ~ight of Bank to retain the Cottateret for svch other
IisbilFties.
CREd1T LIFE• AND CREDIT IIFE b DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CRE~IT. Such insurance ~
coveraye is available at the cost designated bebw for the term of the vedit: (a) s fo? Crcdit tife In- •
~ur•r~ (61 ~ _ _ _ fur Credit Life d. Disability Ins~rance: '
~ ~
~ppl. Q Gedit Life Msurance is desFred on the life of ;
&rthdate '
- - -
0 Credit liFe d~ Disability Insuranca is desi~ed on ~
.--T----'----~- ,
- BIf1~a~Q - - .
Ged' Life and/w Disabil;ty Insuranoe is not ~red.
~ - _ • - -
ar~: ~~_~J~ s~~~wm : _ %y_.~ _ _ Samuel Love
• s~~r~,ro l :~!'s.L~ - - Shirley Love ~
Additlons to, reductions or exchanpes of, o? substitutions fw the Collsteral, payments on aaount of this loan or increases of the
seme, or other loans made partially w wholly upon the Collateral, may from time fo time be made without affectiny the provisions
of this note. Bank shell exercise reasonabte care in the custody and preurvation of the Collateral to the extent required by applicable
statute, and shall be deemed to have exercised reasonable care if it takes such sction for that purpose as AAaker shaH rcawrwbly reqvest
in writinQ, but no omission to do any act ~wt requested by Maker shal~ be deemed a failure to exercise reasonabb csre, and no omis-
sion to tomply with amr roquest of Maker shall of itself be deem.ed a failure to exercise reasonable care, Bank shatl not be bound to '
• t~ke ~tny steps neoessary to presens amr rights in the Collateral agsinst p?ior parties and Meker shall take all neoessary steps for such i
purposes. Bank or its nomf~ee need not collect interesl on or p?irxipal of any Collate~al or give any notice with respect to it.
If the Collsteral shsll af a~y time become unsatisfactory to Bank, Maker sha11 within one day sfter demand pkdye ar?d deposit
~rrilh ~nl~ as pert oi N~s Collateral additional property wFiKh is satisfattory to Ba~k.
If Bank deems itself inaecure, or upon the happeoing of any of the following events, each of which shalt coestitute a defeult here-
ueder, al! liabilities oi each Maker ro Bank shall thereupon or thereafter, at the option of Bank, withovt notice or demand, becane due
end psysble: (a) the failuro of amr Obli9or (which term shall mean and i~clude each Maker, encbrser, surety, a~d puarantor of this
rwfe) b perfortn e~r eq?sert~snt hereunder, to psy interest hereon within ten days aher it is due, or if thero be no due date, after it
is billed or ofheirwise roquested or demanded, to pay any Wher tiability whatsoever to 8ank when d~e; (b) the death of any Obligor;
(cf the fitiny of any pefitio~ under the Bankruptcy Act, o? any similar feders! or stnte statute, by or against amr Obliyw; an applica-
tion for ti~s appoinM~eni of a reoeiver for, the making of a peneral assignment for the benefit of aed~tors by, or the insolvency of smr
Obligor; (e) ths entry of a j~d~eme simt any Obtigor, the iuving of any attachment or garnisbment, or the filiny of amr lien,
aq~inst aMr ptoperty of aMr Obl'iflwt the takiog of possessioo of any substantial parf of the property pf any Obli9c;: af i~ instance
oF ~ny ~ovsrnmental suthwity; (h) the dissolulion, merger, consolidation, or reorganization of arry ObliQor; the assignment by any
N4~ka of any eq~ity in any of the Collateral without the written consenl of the Ba~k. Each Obligor hereby waives any requirement of
ratioe or dert~a~d roflecting such aooekrotron insofar as such requirement be in sddition to the rrKre exercix of eny ~emedy afforded in
thb Nds w the institution of svit by the then holder_ .
B~nk shall have, but shall not be limited fo, the folbwi~g rights, each of wli~ch may be exercised at sny time whether or not this t
nofe is du~: (i) to pladQe w transfer this nate and the Collateral and 8ank shell thereupon be relieved of all dvties and responsibilities
Mnwider and rolisvsd from amr and all liability with respect to any Collateral so pledqed or transferred, and any pledpee or trans-
ie?ee shall for sll pur stsnd in the plaoe oi Bank hercunder and have all the rights of 8ank hereu~de~; (iy to transfer the whote
orany p~A of ths laferal into tF~e name of itself. or its naninee; (ii~ to vote the Collateral; (iv) to ratify the Obligors of any Cd-
I~Mral to make payment ro Bank of amr emounts due w to become due thereon; (v) to demand, sue for, ao!led, or mske any compra
mise or settkrnent R deems desirable with refe~ence to ths Collateral; and (v~ to take control of any proceeds of Collate~al.
B~r?k is hsreby 9iven a lieo upon and a security interest in all property of each Obligcx now or at arry time hcreaffer in the pos-
s~ssio~ of Bsnk in em cspacity whatsoever, Includinq but not limited to any balsnce w share of any deposit, trust, wa~e ncy account,
as tM secvrify for the paYment of this note, snd a similsr lien upon and security interest in all wchpr operty of each Maker as security
for the p~yment of sll other iiabilities of eacfi Maker to Bank (irxludirp lisbil;ties of each Maker and any other person); and Bank shsll
haw the sane riyhri as to wch property as it has with rcspect to the Collateral.
If Bank deems itself insectrre or upon the oocurrenoe of any default hereunder 8ank shsll have the fweclosure e~d other remed'ees
oi ~ s~curodp~~}y under the Uniform Commeraal Code, or oN~er applicable law a~d, without limiting the yenerality of the foregoirq,
Bank shall hsve the riyM tmrt~sdietely and witFw~l further actio~ by it, to set off ayainst this note ali mw~ey owed by 8ank in any ca-
pacify to aad~ or any AAaker, and if such sst off shall oocur, Bank shall be deemed to have exerased s~ch r' t of set off snd to havs
n~ ~ char9e a~i~tar~y svch money immediaroly upo~ the oaorrence of such default even thouyh such ~ge is made w erttered
on thf books of Bsnk bsequent therato. Unless the Collateral is perishaWe or threate~n to decline speedily in vslue or is of a Iype
custamarlly wld on s row~nizad msrfcet, Bank will pive Maker reasonable no~ice of the time and place of any public sak thereof or of
Mw time affer which any private sale or arty other inter~ded disposition the?eof is to be made. The requirement of rcesonable notiae shell
b~ met H wch notice ia mailed, postage prepeid, to arry Maker at the addreu given below or at any other addrcss shown oo the roc-
ords of fhe 8ank, et leest five days beforo the time of the sale or disposition. Upw~ disposFteon of any Collatera! aher the oavrrence
d any defauh Mreunder, Maker shall be and remain liabk for eny deficiency; snd Bank shall aaount to Maker for sny surplus, but
Bsnk shall have the riqM to apply all or soy part of sud~ wrplus (or to hold the seme as a reserve sya+nst) arty and a!I othe~ liabilitks
of Nch or any Msker ro 8ank .
No dtlay or omiuio~ on the paA of Bsnk in exercising arry ri hf fiereunder shall operate as a waiver of such ripht or of any ofher
riyM undsr fhis rwie. Ptesentment, demand, protest, notice of dis~, and extension of time withouf notite are hereby waived by
e~th ~nd evny Obliqor. The Qbliyon, jantly snd severolly, promise and agree to pay all costs of collection and reasonabk attwneys'
fMS (not less fha~ 10% of the pnncipal sum) incurred or paid by Bank in enforcing this note upon the occ~rrence of any default.
My ~otke to Msker shsll be wff'rciently served for all p~rrposes if kft upon w p(sced in the mail, postage prepaid, addressed to the
pr~rt?ises at the sddross shown below or any other addreu shown on 8ank's recads.
Whersver tFiis nole is execvted by a co-maker or endorser who is the wife of a m r or endo~se~, the said wife does hereby ex-
pnssly atknowNdps ths within debt as her jant snd ir?dividval debt.
Ead~ of Maker acknowledyes reoeipf of a compkted oopy of ~his Ny1s on t e date.
Addnu:;'*i3 i'u~ ril-c:, :;~ar~2ent 203 ~-~_Z (Ss+D
~ -T;~~
._.2 . .
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. 2; ~~-st ~ i~ ^ts, ' aryl,~:~i 2~02
. 3 -X---- - ~
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,,.,.~„p. ~airley Love , 600K ~~J PAGF~~~4
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