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HomeMy WebLinkAbout0698 ~ • ~r ~ S a - :x c; ; ~ ~~:t INSTALLMENT NOTE ; • s ~ ~ BANK NAME (S~cuhd and Uns~cund) ~ :U'.1^St~Z'C~.,~1 :Jt• i ~1Z:~3@Il .'~.E'~C}' ~ I' ~.~1~'Z ~:Q ~Y~2 J:1~Q 1 19 _ `1 : ~'~-~a3~ LOCATION • ~ loan Terms: Net~ No. ~at«k , 19 4~64.~J . P.acs~d: t ~ixty. !cC) :~',or,ths----------------- NNANC~ _ ..1281,so0__._ - - CH/?RGE after date the u~dersigned. hereinafte~ called Maker~ jointly and severally Oocumeroary i.,.,._..._...__~:__,._.:. p?omise(s) for value received to pay to tha order ot the Bank. at its o(tice S~an+ps as tisted above tha sum ot (total o~f~ p~ymentS' _ ~rsdit life (or lih ' g'ZVE TMWs ~iD NI2iE HU;iDt~ P'~tTY R'1-1Rt.E ANFS~~b~%'1~~"~' d~ Disebility) Ins.i OfMr(itsmiz~) - ~ - - - - • - - ~Ilan ` with inMr~st thtr~on fh~ rat~. of Pe~ annum, all payabk in f ~ ..r:. ~ b0 _ mo~?rhh iosr.um.~+n ot i-- 9~. ~b each on the .---I.-•-----•- day of .t---_..._._---------. •ach woassive month commencinp on~ ~ _ ---x___.---_.___._._....._. ~ ~L„ . 19.--_--•--• toqether with : ~ • I?MOUNT=. a dAILOON PAYMENT OF =----1'iQLtQ______......... Dus 19 ~",aCz~ ~0~ FINANC~ i A fins computed ~t ti+e rate of =.OS per =1.00 on esch instal!ment in defsult fa ~~~stely toll~ctsd ~per iod in exctss of )O days may be charfled the Maker. No such fine shail qxceed sS.00. Maker is rtqui~ed to pay sll costs of wllMion. includinq • roasona~ attor- ~+~s (itemiu) ney's f~e if referrod fw collectio~ w ley~l proaeedinqs. Atl payments. whet prin- dpal, iotenst or otherwise. not received when dua :hall bear interest sl 10% pe~ s--•------•---•-•--.-.-.---..- annum from dw dats until paid. All payments msde hereu~der shall be credited ANNUAI ~ERCENTAGE RAT~ i~_._ % fint to iotsr~st, then ro lawful charyts.then accn~ed, snd Is~r to principal. If the Iwn is pnpaid in full, aculerated w refin~nced, the Maker shall as of the daro of such eveot rouivs such refuod of the un- ~xnsd portion o( the crodit lifs insursnce p?emium a~d finanos char~e and wch other credit u may be rsquired by law a ss may b~ nxessary 1o arad usury, prov~ded that the Holder may retain a mimmum iinance charpe of s25.00, whether or nof othtrwis~ earMd, ~nd sxcspt in the case of a iefinanci~q, no finance char9e a premium refund sha~l be msde if it ~movnts to leu than s1.00. R~te~tion of any minimum financs shall be in addition to service charge if eny. AMr lanyuaye elsewhere hsmin to th~ contnry notwithslandinq, neitF~ Bank not any holder hereof sha11 receive or retain any charye or interest ~wt allowed by law. ~ ~.t~76~L un31~~i~3 As security for ths p~yment of this note Mske~ has pledyed w deposited with Benk the followinp propsrty:~_..-----.._-_-----~ ~zrs~. '~_..._~t2rt:.C:_.EiiLf_~~5~~_~i_.~~Q~!°~__~_ O.R.__Bobic..250~Pa^y8 293'±.. tJn1t i~fe~ks 5 and ~ ~ . r~ ~ u a in safd :~oi't a, e ~and._~:~~fl.._.~t`~i4~--=' --8g~~~.------~--------------------- q--~-------~--~----------------- (includinp all cash, stock and othe~ dividends and alt rights to subsc.ibe fw securities incident to, declarsd or ynnted in c.onnection with ~ sucb property), which property, togethe. with ali additions aod wbsritutions he.eafter pleclged or deposited with Bank ia called the Col• ~ lateral. The Coll~teral is also pled9ed as security for all other IiabilitSe~ to Bank, (primary, secondary, dirsct, continqant, sok, joint or stveraq, due a to become due w which msy be hereafter contracted w acquired, of each Maker (or of each Maker and sny other p~r- ~ sa+). Ths surrender of this ~ote, upon payment a otherwiss, shall not affect the riyht of Baek to retain the Colleteral fw such otMr lisbilities. ~ CRE01T IIFE AND CREDIT LIfE 8~ OISABIIITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such insunna cowre~e is awilsbk at the cost desigr?ated below for tF+e te~m of the credit: (a) s for Credit lifs In- wru+ce (b) S------------------•_---------------------------- fa Gedit life 3 Disabitiy Insurancr. : Check ~ ; Appl. Q Crcdit tife Insurance is desired on the life of ~ 8on Birthdate - ' ~ ~ ? Credit Life d. Disability Insuronce is desired on ` ~ Birthdate Gedit Life and/or Disability Insurance is not sired. _ ? , t~------- - - ---------------~~~'~e}8-------°----------- ; . , - Date: ~ ~ Siynatur4, - ~ - - tLl~+B"J. ::~t-jUlc?~ r---------- - - - - , , ~ , i . ' - - . ~ . . 7 ~ • . . . ~ t_~ sr: : ^ ' ~ ! 6 s~~ru~a:---~---L-~--/-~--- --------------1---------- r i.n a ; Additions ro, reductans or exchanges of, or s~bstitutioe~ for tFie Collateral, payments on aaount of is~ ^~incresses of ths ~ seme, o? other loans made partially or whol{y upon fhe Collateral, may from fime to time be made wit~ 5ffetfir?y the provitions i of this note. Bank shall exerc~se ressonabk ure in the custody snd preservstior? of the Coflsterai to the extent required by appliuble ststute, and shalt be deemed to have exercised reasonab~e wrc if it takes such action for that purpose as Maker shall re~son~bly roquest , in writirq, but i+o omiu'an to do any act not reqvested by Maker shall be deemed a failuro to exerrise reasonable wre, and no amis- sion to tomply with any request of Maker shall of itself be decmed a fsil~re to exercise reasonsble care. Bank shall not be bound to ~ take any steps necessary fo p~eserve any rights in the Collateral ayainst p?iw parties and Maker shall take all ~ecessary steps for wch , ~ purposes. Bank w its nominee need not colltct interest on or printipal of any Collateral w give any notioe with respsct to it. If the Collateral shall at any tir.?e become unsatisfactory to Bank, AAaker shalt within or?e day after demsnd pledqe snd deposit with Bsnk u part of the ~ollaterst additionat property which is satisfactory to Bank_ ~ If Ba~k deems itself insecure, w upon the happenirg of any of the following events, each of which shall constitute s defe~lt hera- II vnder, atl liabilities of esch Maker to Barek shatl there~pon or thereafrer, at the option of Bank, withovt notice o~ demand, becane due ~ i and payable: (a) the failure of any Obligor (which term shall mean and include esch Maker, endwser, surety, and y~arantw of this ~ note) ro perform any agreement hereunde~, to pay interest hereon within ten days aNer it is due, or if there be no due dete, sAer it . ~ is billed or othervvise rcq~ested a demanded, to pay any other liabitity whatsoever to Bsnk when due; (b) the death of any Obliyw~ ~ ! (c) the filirg of any petition under the Bsnkruptcy Act, or any similar federal or state statute, by or against any Obliyor; ao spplica- , tion for the appointment of a receiver for, the making of ay neral assignment fw tFu benefit of cred~tors by, or the insolvency of any ~ Obl~or; (e) the entry of a judgement aqainst any Obligor; (fj the issuing of sny attachment or garnishmenf, or fhe filinp of arry lien, ~ s~a inst a~y property of any Obligor, (g) the taking of possession of any substantial parf of the property of any Obligor af fhe inst~nce of aMr qovernmental authority: (h) the dissolution. merger, consolidation, w reorganization of any Obliyor: the auiynment by a~y ` Maker of any equity in any of the Collateral withovt the written consent of the Bank. Each Obligor hereby waives any requiremeret of ~ notioe w demand reflectinq such acceleration insofar as such requirement be in addition to the mere exercise of srry remedy affwded in this NoM or fhe institution of svif by the then holder. ~ ! Bank shall have, buf Shsll not be limited ~o, the followiny riahts, each of which may be exercised at any time whether w not this ~ ~ note is due: (i) to pledge or transfer this note and the Collateral and Bank shall thereupo~ be relieved of all duties and responsibilities hereunder and relieved from sny a~d all liabiliy with respect to any Collateral so ptedqed or trsnsfer~ed, and arry pledpee or trans- g de feree shall for all purposes stand in the plaoe of Bank hereunder and have all the rights of Bsnk hereur~der; (ii) to transfer the whole i j w any paA of the Co{~ateral into the name of itself w its naninee; (ii~ to vote the Collateral; (iv) to notify the Obliyon of +ny Col- ; lateral to mske payment to Bank of any amoun~s due or to become due thereon; (v) to demand, sue for,'collecf, w make any compro- 7 ~ mix w settlement it deems desirable with reference to the Collateral; and (vi) to take control of any proceeds of Collstersl. ~ 3 Bank is hereby give~? a lien upon and a security intercst in sll property of each Obligw now or at sny time hereafter in the pos- ! ~ seuion of Bank in any capacity whatsoever, i~cludirq but not limited to any balance or share of any deposit, trusl, ors~ency xcount, ~ es the security for the payment of this note, and a similar lien upon and security interest in all such p~operty of esch AMker as securi~ ~ ~ fw the payme~t of all other liabilities of each Make~ to Bank (indudiny liabilities of esch Maker and any other person); and Bank sha 1 ~ ~ have the same rights as to such property as it hss with respect to the Collatenl. ~ If Bank deems itself insecure or upon the occurrence oi any default hereunder 8ank shall have the fweclos~re and other rert?edies - of a sec~red party under the Uniform Commercial Code, or other applicable law and, witho~t limitinq the yenerelity of the forepoinQ, ~ y Bank shsll have the right, immediately and without further action by it, to set off aga~~st this rate all money owed by Bank in sny ca- 7 p~city to s~d+ w any Maker; and if such set off shall occw, 8ank shall be deemed to have exercised such right of set off and to haw . made a charge against any such money immediately upon the oaurrcnce of sixh default even thouflh such charye is msde w entered ~ ~ on the books of Bank subsequent thereto. Unless the Collateral is perishable or threatens to decline speetlify in value or is of a type ; cvstomarily soW on a recognized market, Bank wili yive Maker ressonable notice of the time and place of any pvblic ssle thereof w of ~ € the time aNer which any private jsle w any other intended disposilion thereof is to be made. The requirement of reasw~able notice shall ~ be met if such notice is mailed, postage prepaid, to any Maker aR t~i sddress yiven. below or at sny other address shown on the rec- ~ wds of the Bank, at lesst five days be~orc the time of the sate w disposition. Upon disposition of a~y Collateral after the occvrrence ~ of eny defsult hereu~der, Maker shall be and rema~n tiabte for any deficierKy; end Bank shall account to Maker for sny surplus, bvt F Bank shetl have the right to apply sll or arw pa~t of s~ch surpl~s (or to hold the ssme as s rexrve ayainst) any and all other liabilities ~ ~ of each or any Maker to Bank. ~ 3 ; No deley or omission on rhe parf of Bank in exercisirp any right here~nder shall operate ss a wsiver of such ripht or of any other ~ riqht under this nWe, Presentment, demand, protest, ~otite of dishonor, and e:tension of time witho~t notice src hereby waived by ~ exh a??d every Obliyo~. The Oblige~s, jantly and severdly. promise and syree to pey all costs of collection and reasonabk attorneys' ? (ees (not Iess rhan 109G of ~he principal sum) incwred or paid by Ba~k in enfaciny this nwe upo~? the oaurrence of any default Any notice to AAaker shall be sufficiently served for al) pur~es if leh upon w placed in the msil, postsy~ prepsid, sddressed to the ~ ~ premises st the address shown below or arry other sddress sF~own on Bank's records. ^ Wherever this ?wte is executed by a co-meker w endorser who is the wife of a maker ot ~ndorser, the faid wife doet het~by ex• ~ ~ p~essly acknowledpe the wirh~n debt as her jant snd individwl debt. _ ~ Each of Make. uknowledges reoeipt of a completed copy of this on tM ' l i = j. ~ _a, , ~ Addrts~ :,i- :,C:~.. - - - - - (SM~1 ~ S L`~~Z~: { (!~f . .:8'r~ ~u'" Li°~{ +~-J~ ~ y _ z ' ~C ~ . c p'r{ , _ L~ ` ~ s~...~~~-_~AIrC -~--~1~--=i- ~ s'-~,-°:- { ~ - ~~t- ~ ~/~_~:~~n : ~ y--• - - - J - € Fes >>e z : ir . . ~:e : - ~ - ; _ _ _ .U.....~_~. . ,.f._..,.