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HomeMy WebLinkAbout0207 ~ . a p ! .3i:Vw=~<; :3u~L'Y~ '_:.1;.~ INSTAtLMENT NOTE ~ ~ , ~ , 9ANK NAME (S~cund and UnNC~: # .0 c~1C7~Ti:E2C_'I1~I, S~.1 J~.~.'S`2d ':~fiY~t, : 7, Dw: ^~1Id~..,~- 19 ~1 : 5, 423. i0 ~ I.QCATION ~ NM~ No. O~t~d: •PJI:Y ZO , 19 ~6 ~ loan Ttrms: ' ~~~Q.00 ProcNdi S ~ _._.__.____~SLK'1'Y _~.~fl~._ °Moc~th~ - - NNANCE t _...1~fl3...$Q__.. . . CHAROE a(ter date the undersigned, hereinaiter called Maker, jointly and severally Oocum~nt~ry i....._._~._.....___.__.._ promise(s) tor value received to pay to the order ot the Bank, at its oifice 5~+~+~s as ~~sted above the sum of (totai of paymen~s) Credit'Llfe (or tih '`~M I.`dE `Z{'.C7t.Tat~?IdD ~tT:.~TI'Y ~~R''r~ Al`~ 8Q/1~~-~-- 3 Oisability) Ins.i - - • pollars a~r (itemize) - - with int~nst therson .~t ths rat~ of i~ ----96 per annum. II p~yable in : ..~_.5Q_.__ monthly insqlimenfs of =..~3R7~.._ fK~~ the ..s.Y~-'t dsy of ' . , , , i- ~ tq7.6.__ , ro4eth.. w~rh s ~ch suaessiw mo~th commenun~ a+ :;•.,.---A1.-. AMOUNT a BAIIOON Pl1YMENT OF s-.._--•j~,$------r- ' Dus 14 3,~4~. ~1 . . .t FINANCED i A fine computed at the rat~ of =.05 per :1.00 on each instal~ment in dafault for ~~~ately coll~ctsd spe riad in exc~u of l0.days may be charyed the Maker. No auch fine shell exceed ~~~s (itamizs) =5.00. Msktr is iequired ro pay all costs of collettion, intludinq a re~sonabls attor- nsy's f~e if rofsrred iw collection o. leq~l proccedinqs. All payments, whather prio- e dpsl, inMrost or otherwise, not received when dw shall bear interost at l0~fi per ~nnum from du~ date until paid. All payments msde he.evnder shall ba credited ANNUAL PERCENTAGE RATE ~_Ty(, fint to interest, then to lawful charqts then accrued, ar+d last to principal. tf the loan is prepaid in full, aoceleratcd w refinsnced, the Maker sMtl u of the date of iuch event receive such refund of t1» un- earn~d pwtion of tha credit liie insurance premium aod finance charye and such othsr credit as may bs required by law or as m~y bs necessary to svoid usury, provided that ths Holde. may retain a minimum finance charge of s25.00, whether w nof otharwls~ ea?n~d, and except in the case of a refinancinfl, no finance char9e or premium retvnd shsll be msde if it amounts to leu than =1.00. ReteMion of a~?y minimum fie,ance shsll be in addition to service charge if any. Any languape eluwhere herein to the tontnry notwiNutsndinq, neither Bank nor any holder hereof shall receive o? retain sny chsr9e or interest cwt allowed by law. A~,p~69$ ys ri for the yment of th' no Ma er ss t p? de 'ted with Ba k f i .`~.p`~ 298 3~ . t ; ~ t.iiv~._.~ci ~n'ter~st ~i. . . ~L~rt~e ~ C~a`dc~°ni.um"Q~, ~ec~°~ ~ . Uni - - - ~ - - ~°<~.,.,kac~anc~ .~.~c&~~x~ ~ . - ~ ~]~tg~:- " , - - - - - - : 2~~~,~ri~-.~t~,~#~.~d~+,d~,~i~~~e~~~ee~`~t~~i+~'~n~~:~e~'"i. ~ suth ptpperty), which properly, together with all additions and substitutions hereafter pledped ot deposited wifh Bank is called the COI~A S~ lateral. The Coilateral is also pledged as security for all qther liabiliffes fo Bank, (primsry, secondary, diroct, ta+tin~ent, sols, jointo~,,..~,,~. several), due or to becam due w which may be hereafter contracted or acquired, of each 71Raker (or of each AAaker end sny other psr~""°`J~ - son). The surrender of this note, upon payment or otfierwise, shall not affect the riflht ofi Bank to retsin the Collateral for such other tiabilities_ ~ CRE~IT LIfE ANO CRE~iT IfFE b ~ISABItITY INSURANCE ARE VOtUNTARY AND NOT REQUIRE~ fOR CREDIT. Suth insu?anot covtrsg~ is ~vailable at the cosl designated below (o. the term of the credit: (e) S.-- for Cr~dit lifs !o- ~ surance (b) fo~ Credit Life d~ ~isabiliry tnsurance: a Chsck Appl. Q Crcdit life Insurance is desired on the life of - Box - - Birthdate ~ p Credit life 3 Disability tnsurance is desired on a~ a~?~~,dare 1 ~ Credit life and/or Disability Insuro~ce is not . r 1---------''.-------- - ~ . ~-h'• ~~1Ti1 Datr. -----~T111.S~:--~ti---~~.~-- Si9nature - - - . - =-r_ , Si~naturo ---~t..~__.~__-=1_.. , '~!--.`-L'-i~-=' #~E'.L~~1.1F1t1@ ~~elfrTl_ ~ Additions to, redudions or excha~ges of, or substitvtions fo1 the Collateral, paymenfs on sao~nt of this loan or inaeases of the ' sams, or oiher loans made partia~ly or wholly upon the Collateral, may from fime fo time be made without affectir?p the provisions ; af this :?ote. Ba~k shall exercise reasor+ab!e csre in the custody and p~eservat~on of the Collateral to the extent required by appliuble ~ statvle, and shall be deemed to have exercised reasonab~e care if it takes such action for that purpose as Maker shall raaso~ably requsst . ~ . in writing, but no omissioa to do any act not reQuested by Maker shall be deemed s faiture to exercisa ressonable ure, and no omis- 1 sio~ to comply with any request of Maker shall of itself be deemed a failure to exercise ~easonabk care. Bank shsll not be bound to # ' take eny steps necessary to preserve any rights in the ~ollateral against prior parties snd AAaker shall take all necessary steps fo~ stxh ~ ; purposes. Bank or its nominee necd not collect interest o~ w principal of any Collate~al or give any notice with respM to it i If the Collaterel shall at any ~me become unsatiafactory to Bank, Maker shail within one day after demand pledQe and deposif ~ ' with Bank as part of the Collate?ai add~tional property which is satisfactory to Bank. ~ ; If Bank deems itself insecure, or upon ihe happening of any of the following events, esch of which shall constitute a default here- ; ( under, all lisbilities of each Maker to Bank shall thereupon or thereafter, at the option of Bank, without notice oc demand,~~~rr~ ue _ ~ I a~d payabk: (a) the failure of any Obligor (which term shatl mean and include tsch Maker, endorser, s~?ety, and yuarantw ofthis i ~ note) to perfwm sny agreemcnt hereuncler, to pay interest hercon within ten dsys after it is due, or if there be no due dats, after it is billed or otherwise requested or demanded, to pay any other liability whatsoaver to Bank when due; (b) Ihe death of srhr Obliyw ~ i (c) the filing of any petit~o~ ~nder the Bankr~ptcy Act, w any similar federal w state statute, by or aqainst amr Obli~or; (tn an applica- f ~ tio~ for the appointment of a receiver for, the making of a neral assignment fw the benefit of ued~tors by, or the insolverxy of a~y e ~ Oblipor, (e) the entry of a judgement against any Obliqor; (~the issuing of any attxhment or yarnishment, o~ the filing of any lien, s~ainst any property of any Obligw; (9) the taking of possessio~ of a~y subslantial part of the property of sny Obliqor at ths instsnce ~ ~ of arry flovemmeMal autho~iry; (h) the dissolution, merger, consolidation, or reorganization of any Obliyor, (7 the aui~oment by sny ~ ~ AAaker of any equiy in any of the Collateral without the written consent of the Bank. Esch Obligor hereby wsives any reqvirement of # ratice or demand reflecting such acceleratia+ insofar as sexh requirement be in addition to the mere exercise of any remedy affwded in this Nofe w the institution of suit by tlx then holder. Bank shall have, but shall not be limited to, fhe following riahts, each of wfiich may be exercised st any time whethe? or not this ~ ,note is due: (i) to pledge or transfer this note and the Collaterai and Bank shalt theroupon be relieved of all duties and responsibilities hereunder ar+d relieved from any and all liability with respect to any Collateral so pledped or transferred, end any pladyee or tnns- - ~ feree shall fw all purposes stand in the place of 8ank hereunder and have all the rights of Bank hereunder; (i~ to tronsfer the whob ~ w any part of the Collateral into the neme of itself w its nominee; (ii~ to vote the Collate?al; (iv) to notify the Obligors of sny Col- lateral to make payme~t to Bank of any amouMS due or to become due thereon; (v) to demsnd, sue fw, colled, a meke any compro- ~ mise or settkment it deems desirable with reference to ihe Collateral; arsd (vi) to take coMrol of any proceeds of Collateral. _ Bank is hereby given a lien upon end a sec~rity interest in all property of each Obligor raw or at any time hereafter in the pos- ~ seuion of Bank in a~y cspacity whatsoever, including bvt not limited to any balance w share of any deposit, trust, ors~s ncy sccour?t, as the securiy-for the payment of this ~ote, and a similar lien upon and sec~rity interest in all such property of each Maker as sec~rify for the psyment of all other liabilities of each AAaker to Bank (including liabi~ities of each Maker snd sny otfier person); and Bsnk shall ~ have the ssme righrs as to svch properfy ss it has with respect to the Collateral. ~ ~ If Bank deems itself insec~re or v!~on the occurrence of any default•here~r+cie; Bank shall have the foreclosure and other remedies < of a secured party vnder the Uniform Commerciai Code, or other applicable IavTvrtd, without limiting the generality of the fwe9oinp, Bank shall have the right, ~rrtmed~ately and"ivilfiovt further adion by it, to set off against this note all mw~ey owed by Benk in sny cs- ;g pacity to each or any AAaker, and if svch set off shall occur, Bank shall be deemed ro have exercised such r'~ ht of set off and to have ` made a charge against sny svch money immediately upo~ the occurrence of such defa~it even though ssrch charpe is made or e~tcred o~ the books of Bank subsequent thereto. Unless the Coflateral is perishable or threatens to declins speedily in value or is of a type . customsrily sofd on a recognized ma.ket, Bank will give Maker reas~nnbie notice of the time and plsoe of any ~wblic sak thereof or of ~ ~ the time after which any p?ivate sale or any other intended disposition thereof is to be made. The requirement of reasoneble notice shall be met if such notice is ma~led, postage prepaid, to any Maker at the address yiven below or at any other address shown on the rec- ~ ords of the Bank, at least five days txfere the time of the sale w d~spos~tion. Upon dispositio~ of any Collateral sfter the occurrence 1 ~ of any default hereunder, Maker shall be and .ema~n fiabte for any deficiency; and Bank shall sccount to Maker for any surplus, bul ~ " Bank shnll have the riyht to apply at! or any part of such surplvs (o? to hold the ssme as a reserve ayeinst) sny ~nd all other liabilities . ~ of each ar any Msker to Ban~. z No delay or omission on the part of Bank ~n cxercising any right hereunder shall operate as e waiver of svch ~ight or of any other ~ ~ right under this ~ote. PreserMYrC~hr, ~m~nd, prottst, notice of dishonor, and extension of time witho~t notice are hereby waived by . each and every Obligor. Th~ pbligors, jointly and severally, promise end agree to pay all cosfs of collection and reaso~sble atto?~eys' ~ fees (not less than 10% of the principel sum) inturred or paid by Bank in enforcing this note upon the occurrence of aM/ defeult. ~ Any nofice to Makar shall be suffic~emly served for all purposes if leN upon or placed in ~he mail, postafle prepaid, addressed to the premius at the address shown below or any o*her sddress :hown on Bank's recwds. ~ Whereve. this note is executed by a co•maker or endorser who is the.~ife of a meker or endorier, the said wife does hereby ex- pressly ackr+owledye the within debt as her joint and ind~vidual debt. ~ ~ Each of Maker acknowledges receipt of a complered copy of th~s ot on the e date,; ' ~ 7`l~i ~ _~ti ?~'Y..t'~ St. ~q i Address: _ _ - _.~_.1~4~f4!!!!c.`N~`_-_ i~: e~7.XY.?a 3?+~ ~ i , ~ C ~ ~ , ~ $f3Clc~''1 bt~~7l1YT1 - ~ wY. r ~ • , . 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