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INSTAIIMENT NOTE
(S~cur~d and Uns~cund)
Not~ No. ~6-0005-5 p,~~d; June. 24, _ 19 76 pu.: June 25, 19 81 = 6, 882_ QO
loa~ Te.m~:
V~oceeds 3 .~~_Q~Q._QQ.__._
~_._.._-~.~Q~---._SIXTY.~(LQNT~I.S FINANCE x .1,_fz.1~.~4.---- .
after dare the undersigned, hereinsfter called Maker, jointly and severally CHARGE
promise(s) for value received fo pay fo the order of Fint Nalioosl Ssnk of Oocwnen~ary i.___.___~Q.
Fod Pi~?c~ here~nafter ca k t offic at N Pi~r ~iu ida the s m Stamps
of (total of payments) ~~.H~~SA~D .~GH'~..H~NARF~?. Cred~t li~e (or tife
EIGHTY-T~~VC~ AND NO CENTS--------------- d.Disability)Ins.S ____2.r?_$a.3~,..._
pthe ( emi )
r it 'ie
~~~~~~r ~~..~~~~~...~~~r~~~~~r~_..~~~~~
Dolia.s 54~
paYsbl~ in
with interost thereon at the rals of .._II..Q~ .....96 pe~ annum, all ~
--6~ monthly installmenb or s..1141.~Q_.._ each on the day of =-••------ZD,~-~Q--•
sxh suausive month commencinq on J311~/._.25 t-NQT1G.-----_._~__
. 197~.... toflether with
a BALIOON PAYMENT OF S__~4A~___..._.__ Dus _---~I9I~~.-------.._. 19 ~OUNT
flNANtED = 5 _268„~66
A~n~ compoted st tM rat~ of s.OS per s1.00 on each installment in default for ~~~~1e~y ~o~~~~ ~
• period in excess of 10 dsys m~y'be tharqed the Maker. No svch fine shatl exceed ~~~~~Z~~
s5.00. Makx is ?equired ro pay all costs of cdlection, inclvd~~?y a ressonabt~ atto~- ReCO1~~iI1g i-----..._.ZZ..~6.~~
ney s fa~ if refened for mlltction w le9at proceedinqs. All payments, whether prin-
apal, interos! a otherwiss, not received when due shall bear inleresr sr 1096 pe~ i_~_On~
•nnum hom due dats until paid. All payrt?ents msds hereunder shall bs credited ANNUAL PERCENTAGE RATE
fint td int~r~at, then to lawfvl char9es then aewwd, and laat to principal.
If th~ loui is prepaid io fvll, accele~ated w refinanced, the M~ker shall ss of th~ datc of svch event receive such refua! of ths w?
earned portion of the credit lits insurance premium and financs cha~qs end such o~F?e. credit as may be ~equired by I~w or u may b~
neceasary ro evuid usury, provided that the Holdei may retain a minimum finance charye of S25_00, whether a nW oth~rwise earnd,
and except in tM case ot ~ refinsnci~y, no financs chs~9e or prert?ivm re/und shall be made if it ~mau~b eo lesa the~ t1.00. Re~e~tion
of any minimvm fin~nca shall bs in addition ro service chsrge if any. Any lanyuage elsewhere herein to the cont~ary ratwithstaed;nQ,
neither Bank ~wr amr holda hereoF shall ?eceiw w robin se~r charqe or interest not allowed by law. _
As secvriry fw tM psytn~nt of this noM N1~ksr hss pled9sd or deposited with Bank the /ollowirq propsrfy: ~iSCS~III 1~ortgage
Qa 34 35 40 1b[~,st 11~ t_ of North 79. 66 F~Q~Qutl,i~98. 30 Ft. of East 1~2 Ft_
of We t 1 8 Ft. of_East 1 2 of NE 1 4 of SW 1 4 of SW 1 4--------------------
- ~ 2 ~~_~___L.,.---- E------------- .
(i~tludirq atl caah, stock and other dividends and sll ri9hri to subscribe iw securities incidcnt to, detlared a g~anted i~ conneciion with
- such prop~rty), which prop~rly, togethe~ with all additiau end substitutions hereafter pledged a deposiled with Bank is calkd th~ Co1.
labral. The Collateral i~ also pl~d~ed as s~curity fw all othsr lisbilities to Bank. (primary, secondary, direct, contirqent, sol~, joint or
sew?~4: dut w to becnn+~ dw a which may be hereaher contracted or xq~ired. of each Maker (w of each AAake? and a~ryr other pet.
- son). TI+~ swr~nder of this note, upon payment or otherwise, shsll not affed the right of Bank to rctain the Collateral fw wch other
~ - ~ - li~bilitifs. - . - - - - - -
. . . - ' -
: CREDIT UFE AND CREDR IIFE d~ DISABIUTIf INSURANCE ARE VOIUNTARY AN[~ T~1 IRE~ fOR CREDIT. 5uch insurance
: _ tover~ is availa at tM cost desi9nated bebw for the term of tfie creait: (s) s G-~..~ 1___~~ fw Gedit 4(~ lo-
- . surana~ (b) s !~n - ~ fw Qedit Lifs a a~arti Insurance: _
~ a»~--~ " - - _ - . -
w~_.: ~ c~ed~~ Ute ~~nu.:~,n ~a des~?ed on ~t,s i~ra or - Charles H. Hed¢e -
- eox _ _ - : - . _ . _ - _ • = e+nhdar. -A--.- 3 ' Z
_ 3 G - - - ~ _ _
~ . .
- t-- -
- -p Crodit Ufe a Disability Imuranc+e is desirod on ~
- ~ - - - - - - _ &rthdat~ - -
Q Gedit lih and/or Disabiliry Insunnae is not sir . - 4
. o,t.: June 24, 1976 st9~„n,~,s ~
. : . _ . - _ • _ - s+~!~.n,r. .
/Wditions to, reductian or esch~rg~s oi. or wbatitutions fw the Coll~teral, paYments on sccount of this Iwn or inaeases of tM
~ same, or Wh~r loans made parti~lly or wholly upa+ th~ Collat~nl, may fiom time to time be made withovt affectin9 1he provii~w~s
of this noN. 8ank shall ~xKCise reasonabf~ un in the custody and preservation of the Colletersl to the e:tent required by appliuble
' st~hM, ~nd shsll bs daemed to have exercised reasa+abls care if it takts such sction for that purpose ss Make~ shall reason~Wy req~rest
in wriHny. bv~ no omission to do arry ad not rpwsted by Mskar shsll bs decmed a faiture to excrcise reasonabk ure, a~d no omis-
sioe~ fo cort~ply with athr request of Maker shall of itself be deemed a failure to exercise reasonsble ca.e. Bsnk shall rat b~ bound ro
eps
i tske ~ny steps necesaary ro preserve anyr~ hts in the Collateral aqainst p.iw parties and Maker shall take all r~eaessery s~eps ior wd+
~ purpos~s. Ba~k w,n namins~ need not coll~ct int~rost on or pri~upal af any Collsteral a yive any notice with rapect to it_
~ if ti+e Coilateral sMll at any }ime becoms unsetisfactwy to Bank, Maker shall with~n or:e day aher demsnd pledqt and deposi~
~ with Bank u part of ths Coll~teral additia+sl property whid+ is satisfactory ro Bank. -
j K 8ank deems its~lf ins~cun, w upon th~ happeniny of any of the following events, each of which shall constit~t~ ~ d~fwk 1~err
E vndar, all liabilities of each Maker to Bank shall therovpon or thereafter, at the option of Bank, wirhout notice or deinand, bec,orns due
~ snd pry~ble: (a) ths failure of any Obliyor (which tenn sh~l mean snd irxlude each Maker, eodo.ser, w.ety, and quarsntor of this
nott) tp perform ~ny ~gre~er~nt hereunder, to p~y interest hercon within ten days efter it is dve, a if there be no due date, affar it
; ~ is bilbd or ofMrwise r~qvestsd o~ dem~ndsd, to pay sny other liability whatsoever to Bank when due; (b) the d~arh of arry Obligor,
't (c) rtr nliny of any perition ur~der ihe B~nkrupt~cy Act, or sny similar feyere! or state s~+ture, by w sga~n:t eny Oblipw; an applia-
tio~ for the ~ppointmerM of a rsceiver for, ths makin9 of a neral assignment for the benefit of ued~tors by, or the insolvency of ~n~r
~ Obligor; th~ enfry of • jud~en+ent sgainst a~y Obli9or; (~ths issuing of sny anachmcnt or garnishment, or H+e filirg of any lien,
~ ag sinst any p~operty of ~r?y Ob1'por; (9) the takiny of possession of any s~bstantisl part of the property of any Obliqor st the instaooe
of am/ qovemment~l authwity: (h) the dissolution, meryer, consoliderion, or ~eorganizarion of arry Obfigor: (7 the sssi9nmeM by sny
I ~ Makat of any equity in ~ny of fhe Colbteral without the written consent of the Ba~k. Each Obligon c~reby waives any reqviren+~~t of
~ ~ ~otioe or damand roflectiny such aoxlention insofar as such requirement be in sddi~~oo to tbe mere exercise of a~r remedy sfforded in
this Noh or the institution of svit by the M~sn hofder_
Bank shall Mve, but shall not be limited to, t1~e followinq riohts, each of which may be e:erciud a? any time whether ar not this
note is dve: (y to plad9e w transfer this note and the Gollateral and Bank shell thereupon be rolieved of sll dvties and responsibilities
herevnder ~nd relieved fran any and all liability with respecr to sny Collsteral so pledgcd or t~ansferred, and sny pledyee or trans-
-r, feres shall fo~ sll porpos~s stsrd in tF+~ pl~ce of Bank herevnder end havs aii the righn of Bank herew~der; (i~ to transfer the whok
ora+ry put of the Collatnal into the name of itself or its nominee; (iiq to vote the Collater+~t; (iv) to notify the Obligors of any Cd-
lateral to msk~ payment to Sank of arry amov~ts dve or to becane d~e thereon; (v) ro demand, sue fa, collect, or make my compro-
. mise a s~ntement it de~ms desirable with refererxe to the Collateral; and (vi) to take co~trd of any proceeds of Collatrral.
~ Bank is hereby yiven a lien vpon and s setvrity interest in all property of each Obligor now w et a~y time hereaNe~ in the pos-
sesian of Ba~k in ~ny up~city whatsower, i~cludinq but nat limifed ro any balance or share of any deposit. tnnt, or agenqr accoum,
~ ~ as tF+~ s~curiry/ for the payment of Mis note, snd s similar lien ~pon and security intereat in all such property of each Maker ~s security
~ ~ for tM payment of ell dh~r li~bilities of each Maker to 8ank (including liabil~ties of ead+ Maker and any other person); and Bank shatl
s have the sams riyhts ss ro such properhr as it has with rospeci to the Cdlatersl.
~ ~ v H Bank deems itxlf insecure w ~po~ ths occvrrence of a~y defauh hereunder Bank shall have the fwecloswe and wher remed~es
~ of ~ s~cund pa.ty under th~ Uniform Commerci~l ~ode, w other applicable law anA, witFw~t lim~ting the gencrality of the foreqo~nq,
8ank ahall hav~ the riyAt, immsdiately and without fvrther action by it, to set off aga~nst this note all money o~Ared by Bank in any u-
~ pscify ro each w a~y llMktr; snd if such set off shsll oaur, Bank shall be deemed to have e:erc;sed such r~qht of xt off and to have
: made a char9e a~~inst N+y such mo~ey immediately upon Ihe octvrrence of svch default evcn though such charge is made or entend
# on tM books of B~~k wbs~qwm thereto. Unku the Cottateral is pe.ishsble w threatens fo decline specdily in val~e or is of a type
~ ~ custamarily sold on s rewqni:sd markst, Bank will yive Maker reasonable r+otice of the time snd place of any p~blic sale Thereof o~ of
O the tin~ after which ar?y priwte sak p any othe~ intended disposition thereof is to be made_ The requi.ement of reasw~able notice shall ' ,
~ be met if such notits is mail~d, postape pnpaid, to any Maker at the address qive~+ L•elow o. ar a~r other address shown on ~he rK- ~
~ wds of th~ Bank, at kast fiv~ days befwe the time oi ths sale or disposition_ Upa+ disposition of any ~ollaterrl after the occurtence ~+a:
z r of e~y def~ult hereunder, AAaker shall be ~nd remain liable for any deficiency; and Bank shall saount to Make~ for any w.plvs, bvl ~
& :
f ; Ba^k sF?~11 hav~ ths riyht to ~pply all a amr p+n of s~ch svrplvs (or to hold the sune as a reserve aga~nst) any ard all aher I~ab~lities ~
~ 1 of ~~cl+ a any Maker ~0 8ank.
Na delay os omission c,n the part of Ba:+k in exerusinq sny right hereursder shall operate as a waiver of s~rcl+ riqht or of sr.y other ~
r19ht und~r this rate. Presentment, demand, p~otest, notice oi dishaar, and ex~ension,of time without ~+otice ~re hereby w~ived by
each ~nd ev~ry pbli9or. TFe Obligon. IoiMfy and severallY. Prom~se and aqree to p~y all costs of collec~io., u+d reasonabk aKw~?eys' ~e
~ fe~s (nW less than 10% of tM principal wm) inc~rred or paid by Bank in enfpcinq this nore upon ~he acwrtnoe of u+y defsult. C
Any notite to Maker shall be s~fficiently s~rved for all purposes if left upon w plxed in the mail, postpe prepaid, addressed to ths
^ premises at tM address shown below or ~ny othe~ address shown on Bank's records
~ ' p YYhtrewr this note is e:~cured by • co-maker or endwser who is the wife o/ • maker or endorser, the said yvife does hereby es-
~ pressly ~cknowl~dp~ the with~n debt as her ja~t snd individwl debr. ~
Each of IlMker acknowledyes receipt of a completed copy of th~s N rhe a e date. ~
~ ~ ~ ~..,s:4210 Garrison Lane ~i K~ ~
s J J
~ ~ ~ Charles H. Hedge
~ =r. ~ Fort Pierce. Florida 33450 ~ 1~~~ ts..~
LaRue Hedge _
_ . _