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HomeMy WebLinkAbout0722 „ .:it , t r ~ON~W~u~ T^~S,~i-g~~CAt~c~~_ Dw: 19 t loen Terms: Nor• No. ~,~.a: I'qay 9 . 19 ~ 6 P~«~+~ s_.._...._3., 7b2. 40 FINANCE Michael_.R. _Infusino and Vera B. Infusino t._.......1,.0~.3_.~.~.0 ; - • - . - - - • • CHARGE a(ter date the unders~gned, here~naf ter called Make~, ~ointly and severally Oocume~t~ry promise(s) tor value recelved to pay to the o~der of the Bank, at ~ts otfice Siamps as i~sted above the sum ot (tota~ ot payments)_..THItEE~ -THOUSAND----• Credit li(e (w life SEVEI3-•-HUNDRED--SIXTY-.TWQ=.r.,.,...,~-,.,~.-,~-~_-.-.,~__..._...r _ d~ ~~seb~Gry) ~ns.i ---------M----~----~-- ~olla.s Other (itemiZe) with iMerost Ihereon at the rate of 10.__. _---'1r psr annum. 11 psyabls in S....-----..~...•-•---•-••------- ~ fiQ. moMhly iniallments of S. -'j 9 3 each on ~he - dsy of i...._...•-• ~ . ~ i e~ch successivo month commencinq on . . ~ . . 19 . 7~ tofle~her with = . e BR!!M[V PRYMf"!T OF 5..._ .....4... Qua i47b..... AMFINANCED ' ...------~..--7-95-_-$-0 ; A fir,e computed at the ~ate of s.05 per 51.00 on each instal!ment in defaulr for ~~~ately collected ~ ~ a period in excess of 10 days may be charqed the Maker. No such fine shall eaceed ~har si ~t ~ ' =5.00. Maker is required to pay all costs of collection, including a reasonab6e eno~• o (~^"1e) ney i iee if rete~red (o? co~lection w legel proceedinqs. All payments, whether prim s~~ cipal, interest w olherwiss. not reteived when due shall bear interest at 10% per i annum irom due date until paid. All payments made hereunder shall be c~edited ANNUAL PERCENTAGE RATE .1(j._ ~ first to interest, then to lawful charyes ~hen accrued, ~nd last to prir?cipat. If the losn is prepaid in full, accelerated or refinanced, the Maker shalt as of the date of such event receive such refund of the un- esrned pation of the credit life insurence p~emium and finance charge and such other credit as may be reqvired by Iaw a es may be necessary fo avoid usury, provided that fhe Holder may retain e mi nimum finance charge of =25.00, whetl.er a no1 otherwise earned, a~d'except in fhe cau of a.e(inancing, no tinance charge or p?emium .efund shall be msde if it smo~~ls to less thsn t1.00. Retenlion of any minimum finance shall be in additio~ to service cnarge if any. Any language elsewhere hertin to ths contr~ry notwith~tandinp, neither Bank nor anv holder hereof shall receive w retai~ any charfle or interest not allowed by law. As security fw ~hs payment of this note Msker has pledged or dc•xsited with Bsnk the followinq property : ._____[Init._ Weeks..--3-5---~d---~b---.in_..CondQminium.---C:-1.7------------ - __of Turtle Reef . Condominiums Z,. ~.0500 A1~1, Hutchinson.._Island,_ FL._ (intluding al! cesh, stotk and oN~er dividends snd ell rights to subxribe for securities incident fo, detlared o~ gronted in connectio~ with such properry), which property, togethe~ with a11 addit~ons and substitutions he.eafter pledged w deposited with Bank is called the Col- lateral. The Collateral is also pledged as security for all otnei iiabilities to Bank, (prima?y, secondary, direct, co~tinge~t, sole, joint w severat), d~e or fo become dve o~ which may be he~eafter contracted or acquired, of each Maker (a of each Maker and any other pe?- son). The surrender of this note, upon payment o~ otherwise, shall not affect rhe riyht of 8ank to retain the ~ollateral for such other liebil~ties. CRE~IT LIFE A,~~REOIT IIFE b DISABIIITY {NSURANCE ARE VOLUNTARY AND NOT REQUlRED FOR CRE01T. Suth insurante coverage is avaiiabie a~? cost des~gnated bebw for the term of ~he cred~t: (s) tor Credit tife In• 1C~~e (b) t-.-----_---------~/~~ . for Cradit life 6 D~sebility Insursnce: ~~pl. Q Credit life Insvren~ce/~desired o~ the lifs of _c Bi?thdate ---------------~._~ti•---°-----__---__-.__.-------------•-----.-_----------- ` ? Cred~t life 6 Disability Inw~sr~~s des~red on _ - . _ Blrthdste - - ~ Credit life and/or pisability Insurance ' ot de~~ d. ` .,~j---------- - - - ` - 1- . / ~ Dats: _.____,~_.---~--~fl.•--- Sipnature __._~_'/C~-~ y!C~L-w~ - • - - l_~~ s-~-./~~ Si~nature . Additions to, reducrions or exchanges of, a substitutions for the Collateral, payments on accou~ loan or increaxs of the same, o~ other ioans made partiatly o~ wholly upon the Collateral, may from fime to time be made without affectinq the {xovisio~s of this note. Bank shall exercise reasonable ca?e in the custody and preservation of the Collareral to the extent required by appticable i ! statute, and shall be deemed to have exercised reasonab~e care if it takes s~ch action fo~ that purpose as Meker shall reasonably request in writi~g, but no omission to do any ad not requested by Maker shall be deemed a failu~e to exercix reasonabte care, and no omis- j sion to comply with any .equest of Meker shall of itself be deemed a fa+~ure to exe?cix reasonable ura Bank shall not be bound to ~ take any steps necessary to preserve any rights in the Collateral against prior parties and Maker shall lake ell necessary steps fw such i purposes. Bank or its nominec need not co~lect interest on or principal of any Collareral or give any noti.e with respect to it. i If the Coliaterel shall at any rime become unsatisfactory to Bank, Maker shail within one dey after demand pledQe and deposit ; with Bank as pa?t of the Collate?al addit~onal pioperty which is satisfxtory to Bank. i If Bank deems itself insecure, or upon the happen~ng of eny of the /o~~owing events, each of which shall constitute a defauN here- f ur.der, all liabilities of each Maker to Bank shall thereupon o~ thereaffer, at tne option of 8ank, without notice or demand, become due i and payable: (a) the failure of any Obligor (which term snall mea~ and incfude each Maker, endwser, surety, and guarantor of this F note) to perform any agreement hereunder, to pay interesr hereon w~th~n ten days after it is due, or if there be ra due date, after it ~ is b~iled or otherwiu requested or demanded, to pay any other I~ab~l~ty whatsoever to Bank when due; (b) the death of any Obligor; (c) the filing of sny petition under the Bankrupicy Act, w any similar federal or state stalute, by or against any Obligor; an apptica- ~ tion for the appointment of a receiver fw, the making of a general assignment for the benefit of creditors by, w the insolvency of any ~ Obtigor; (e) the entry of a jvdgement against any Obl~gor; (f) the issu~ng o( any attachment or garnishment, or the filing of eny lien, against any property of any Obligo+; (g) the taking of possession of any substant~el part of the property of sny Obligor at the instarxe ~ of any governmental suthority; (h) the dissolution, merger, co~solidarion, o? reorganizetion of any Obliyor; (i) the sssiqnment by any Maker of any equity in any of the Collateral without the written consent of the 8enk. Each Oblipor hereby waives any requirement of ~ notice or deme~d reflect~r,y such acceleratio~ insofar as such requiremenr be ;n addition to the mere exercise of any remedy efforded in ~ thi: Note o. the institution of suit by the then holder. ; ~ Bank shall have, but shall not be limited to, the following r7ehts, each of which may be exercised at any time whether w not this ~ note is dve: to pledge or trans(er this note and the Collateral and Ba~k shali therevpon be relieved of all duties snd respo~sibilities S ~ hereunder and relieved from any and ail liebiiity with respect to any toltateral so pledged w tra~sferred, and sny pledgee or tra~s- e ~ feree shall for all purposes sta~d in fhe place of Bank hereunder end have atl the rights of Bsnk hereunder, (ii) to Ironsfar the whole ' ~ or any pan of the Coltatera{ into the name of itself w~ts nom~nee; (i~i) to vote the Collateral; (iv) to notify the Obligors of any Col- r laterel to make payment to Bank of any amounts due or to become due thereon; (v) to dema~d, sue for, collect, w make eny comprw ~ mise or settlement it deems desirable with reference to the Collateral; and (vi) to take control of any proceeds of Coliateral. ~ Bank is hereby give~ a lien upon and a security interest in ail property of each ObGgor now or at any time hereafter in the pos- session of Bank in sny capacity whatsoever, incfudi~g but ~ot limited to any balance or share of any depos+t, trust, or agency account, as the secvrity for Ihe payment of this note, and a similar iien upon a~d security interest in all svch property of each Msker as security ~ for the payment of all other liabilities of each Maker to Bank (including I~abiiilies of each Maker and any other person); and Bank shal~ ~ have the seme rights as fo such properry as it has with respect to the Collaferal. ~ If Bank deems itself insecure or upon the occurrence of any default hereunde? Bank shall have the foreclowre and other remedies of a secured part~ under the Uniform Commercial Code, or other applicable law and, wi~hout limiting the ge~erafity of the (oregoing, Ba~k snall f~ave the right, immediately and without further action by ir, to set off against this note all money owed by Bank in an j ca- J paciry to each or any Maker; and if such set off shall acu~, Bank shall be deemed to have exercixd svch right of set off and to have ~ made a charge against any such money immediately upon the «currence of such default even though such charge is made o? enlered on the books of Bank subsequent thereto. Unless ti,e Coltateral is perishable w threatens to decline speedi~y i~ vaive or is of a type customari~y sold on e recognized market, Bank will give Maker reasonabte notice of the time and place of any public sale thereof o. of ;a the time aFter which any private sale or any other ~ntended disposition thereof is to be made. The requirement of reasonable notice shall ~ be met if such notice is mailed, posrage prepaid, to eny Maker at the address given below or at any other address shown o~ the rcc- ' ords of the Bank, e~ least five days before he time of the sale or dispos~tio~. Upon dispositio~ of any Collaterol after ~he acurrence ~ of eny defeuh hereunder, Maker shall be remsin liable for any deficiency; and Bsnk shall eccount to Maker for any surplus, but ~ Bank shall have the riynt to apply all w s~rt of such surplus (or to hotd the same as a reserve against) any and all other Iiabit~ties ! , of escn o? any Maker to Bank. q ~ No delay o~ omission on the part of Bank' exerc~sing any right hereunder shall operete as a waiver of such right o? of any o~her j right ~nder this nore. Presenrrnen*, ~mar~, pr not~ce of d~shono., end e,ctension of time without notice are he:eby waived by ~ each and every Obligor. The Obl~gors, iointly an ~veraNy, prom~se and aqree to pay s1Y costs of coliection and reasortable attorneyi ~ fees (not less than 10% of the principal sum) incurle~or paid by Bank in enforcing this note upon the occvrrente of any default. £ Any notice ~o Maker sha!I be sui(iciently urved for e~.poses if left upon or placed in the mail, postsye prepaid, ~ddressed to ths ~ p.emises et r;,e eddress shown below or any a~her ad shown on Bank's recad~. ~ Wherever ~his nore is executed by e co-maker or e~y~,~( who is the wife of e m~ker o~ endwser, the said wife doss heroby ex- ~ pressly scknowledpe the within debf as her jant and indivflTnl debt. ~ E~ch of Maker acknowledge~ recaipt of ~ completsd copyQf rhis Nots on the above dste. ~ ~~.,~:.----•1406 NE 57th Place,....__ ~ ~ ~ - - - - ~llrc-o~~~ T - ~ Ft. Lauderdale, F1 , v ~ Michael R. Infusino ~ • ._....c c~ . . . Ss•~ ~ „ . : E~ ~ ~ J FA~E ' ~ Q,"~.~-~ ~ ~ vc~,-~~ ls. Ii~1'usino ~ - _ . s . .