HomeMy WebLinkAbout0146 \ ~
~ ~ Tur~Reef f~ssociates, Inc. INSTAIIMENT NOTE
BANK NAME (~tYnd and Un~tcu?~
P.O. IIox,~~~~, Jensen 8~ach, ~lerida ` ow:'~'u~. 16 19 -81 = 5.86} .G~
~ • IOCATION
, i~
~
t~'J ~leh Ne. Dat~d: - CC t. 3 3, . 19 7 6 loan Tae?s:
Proc~ds = ~ ± 382 O(?
• pNANCE : --------1, a ~ ~ ~
_____._--_.----------••---------.~~xtY_..~6~~...M4.(~~h.~ - - - - - CNAROE
aiter date the undersignecf, he?einafter called Maker, jointly and severally Docurrwnqry s._._.__._.
promise(s) tor value received to pay to the o~der of the Bank, at its oitice Stamps
as listed above the sum oi (total of payments)_.. Credif life (or lih
~ SIX--~H04!SAND---EIGHT.HI.~NDRED---SIXTY_-Ot~E__AND__60~1~~_ d~0issbillty)Ins.i
Ofh~r(itemise)
- Doll~n
_ •
wiM Mttnst thenon at th~ rats of ___...~~~~Q...._96 per annum, II p~yabls in
< Z -
--tE~.---- monthly instcllmems of ._l.i_._.3~ . esch on tF,~ `~'1 day of
~ " : •
•~cl+ ~uanuivs month commencinp on . 19----~ {Q toqather wiM
• BAItOON PAYMEWT CF . i'~t~t~E..._. Dve . 19 AMOUNT 5 382 00
- _X.
A fin~ computsd et the rats of S•OS per =1_00 on each instal!ment in default fw ~~NC~ s~
a pariod in exceu of 10 dsys may be charqed the Maker. No such fine shall exceed ~P+~attly coltectsd "
sS.00. Maker is requirsd to pay all costs of collection, includir?q a reasonable atto.- ~~~4es (itemite) _
ney's f~e if roferred for collectio~ w lepal ptoceedin~s. All psyments. whether prin.
cipal, interest or otherwise, not ~eceived when ~ue ahall bear interest at 10'l6 per i . _
•nnum from due date u~til paid. All peyments msde hereunder shall be credited ANNlJAL PERCENTAOE RATE
fint to interest, then to lawful charqes then sccrued, and Issf to pr?M~pal, .
lf the loan is prepaid in full, accelerated or refinanced, the Maker shall as of the date of such event receive such refund of the un-
esrned pwtion oi the credit life insurs~+ce p?emium and finance charye and s~ch othe. cred;t ss may be requi~ed by law w ~s msy bs
necessary to avoid usury, provided that the Holde? may retsin a minimum finsnce char9e of s25.00, whether a r?ot otMrwise earned,
~nd except in the case of e refinsncinq, no finance chsrge w premium refund shsll be msde if it amounts to leu than =1.00. Retention
of eny mi~imum financ~ shall be in addition fp service cha.ye if any. Any lanpua9e eluwhers herein to the contrary nofwithstandiny,
n~ither Bank rwr any holder hereof shall receive or retain any chsrge or interest ~ot allowed by law.
As security fw the payment of this note Maker hss pledyed er.deposited with Bank ti~e followin~ property: A__O_..~~5~~ undivided
----~~'~~-~---~it._~,__.Istr~~~__R~L_f..._~ond-,.---I-~--r~ ~rd8d_._i_r~~:Q.R_!_._Book.25~'=---Page:2g31~~.---Etnit :~eeks
2$ and 29 ~n Cond. C-17, A t. No. C-17 as described inssai~ r~ort a e:
- - . 9 9
- - - - - -
(includirq all cash, stock and other dividends and all .ights to subsc.ibe fo? secu.ities incident t o, d
e c l ar e d o r q r ~ n t e d i n c o n n e c t i o n w i t h
suth ptope?ty), whitk property, togethe. w;th ali additioes and subst~tutions hereafter pledged or depos;ted with Bank is called the Col-
latsral. The Colls~erat is also ptedqed ss security for alt other liabilities ?o Bank, (primery, secondary, direct, contingent, so1e, joint o?
seversl), due or to become due or which may be hereafter contracted o. acquired, of esch Maker (or of eac!+ Maker and any other per-
sa+). The surrender of this note, upon payment or otherwise, sha~l not affed the right of Bank to retaln the Collaterel for such othtr
liabilities.
CREDIT LIFE AND CREDIT LIFE d~ OISABIIITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO fOR CREOIT_ Such insu?snte
cove~ape is avsil~ble at the cost designated below for the term of the credit: (s) S..--.----------•-•-•---------------•-_-_---__ for Credit life In-
surance (b) i-------•-----------•-------------------------------------- for Credit life b Disability Insurance:
Check
Box I. ? Credit life Insurance is des~red on the life of
- - Birthdate -
-
~ Credit life d. Disability Insursnce is desired on
Birthdate
Credit life and/w Disability Insurance is not desir ~
• ; . - - •
ct 31, 191~ X ~ ~.u.,,,,--{ , ------t----------
q
Daro: Sipnature - Jet~!PS L. ~:urrei~~
"~.w"'
' s~o~~~~e ------X- - - - - - LoAnn F~urrel l
Additions to, redudions~or exchanges of, or s~bstituti ns for the ~oltateral, psyments on aaount of this loan or ' gpses of the
same, or other loans made partially or wholly upon the Coltateral, msy from time to time be made without aff~thn~ie provisions
of this ~ote. Bsnk shsll exercise reasonable ca~e in the custody and p~esenration of the Collate?sl to the extent ~equired by appliuble
stafute, and shsll be deemed to have exercised reasonabfe care if it takes such sction for that purpose as Maker shall ressonably request
in writiny, but no omiuion to do any acs ~ot requested by Maker shatl be deemed a failu~e to exercise reasonable care, ~nd no omis-
sion to comply with any request of Maker shall of itself be deemed a failure to exercise reasoneble care. Benk shall not be bound to
fake any steps necessary to preserve any rights in the Collateral agsinst piia parties and Maker she!I take all necessary steps for wch
pu~poses. Bank or its nominee need not collect interest on or principal of any Collateral a give any notice with respect to it.
If the Collateral shall at any time become unsatisfactory to Bank, Maker shalt within one day sfter demsnd pledpe and deposit
with Bank as part of the Collateral additional p~ope~ty which is satisfectory to Bank.
If Bank deems itself insecure, w upon the happening of sny of the following events, each of which shall constitvte a default here-
under, all liebilities of each AAake~ to Bank shall thereupon or thereafter, at the option of Bank, without notice or demand, become due
end psyable: (a) the failure of any Obligor (which te.m shall mean and include esch Make~, endorser, surety, and gusrontw of this
nots) to perform any aqreement hereunder, to pay interest hereon within ten deys after it is doe, or if there be no due date, after it
is billed or otherwise requssted a demanded, to pay any other liability whstsoever to Bsnk when due; (b) the death of any Obliyw;
(c) the filinp of any petition under the Bankruptcy Act, or any similar tederal or state statute, by orag ainst any Obliqor; ~n ~pplica-
tion for the appointment of a receiver for, the making of a g nerel assiy~ment fo. the benefit of creditors by, or 1he insolvency of an~
Obliqw; (e) the entry of a judflement agsinst any Obligor; (fj the iss~ing of sny attachmenr or yernishment, or the filiny of eny lien,
ayainsf iny property of any Obliqor; (g) the tak~ng of possession of any substan!ia! part of the property of any Oblipor at thc instsnce
of any povernmental authority; (h) the dissolution, merger, corsolidation, or reorganization of any Obliyor (i) the auiynment by any
Maker of any equity in sny of the Collateral withoot the written consent of the Bank. Each Obligor hereby waives any requirement of
~otice or demand reflecting such acceleration insofar es such requirement be in addition to the mere exercise of any remedy afforded in
this Note w the institution of s~it by the then holder.
Bank shall Mve, but shall not be limited to, the followinq riahfs, exh of which may be exercised at any time whether or not this
note is due: (i) to pled9e or transfer this note and the Collateral a~d Bsnk shall thereupon be relieved of all duties and respa+sibilities
hereuncler and relieved from any snd aIl liability with respect to any Collatersl so pleclqed a tronsfer.ed, and any pledgee or trsns-
feree shell for all purposes stand in the place of 8ank hereunder and have all the rights of Bank hereunder; (ii) to transfer the whole
or eny paA of the Collaterol into the name of itself or its nomi~ee; (iii) to vote the Collateral; (iv) to notify the Obligors of any Coi-
Isteral to make payment to Bank of sny amounts due or to become due thereon; (v) to demand, sue fw, collect, or mske arry compro-
mise or settfement it deems desirable with reference to the Collateral; and (vi) to ?ake control of any praeeds of Collsteral.
Bank is hereby yiven a lien upon and a security interest in all property of each Obliyor now a at any time hereafte? in the pos-
session of Bsnk in ~ny capacity whetsoever, includiny but not limited to any balance or shsre of any deposit, trust, orape ncy aacunt,
as the sscurity fa the p~yment of this note, and a similu lien upon and security interest in all suchp~ operty of each Maker as securify
for the payrrxnt of all other liebilitie> of each Meker to Benk (includiny liabilities of erch Maker and any other perso~); and Bank shall
have the ssme riyhts as to such p?operty es it has with respect to fhe ~ollateral.
If Bank deems itself insecure or upon the oaurrence of eny default F?ereunder Bank shall hsve the fweclosure and other remedies
of a setured psrty under the Uniform Commerclaf Code, o~ other applicable law and, without limiting the generalify of the fweyoinq,
Bank shall have the ri9ht, immedistely snd without further ection by ir, to set off aqainst this note all money owed by Bank in any ca-
pacity to esch w any Maker; and if sueA set off shall oaur, 8ank shall be deemed to have exercised such r'~yht of set off end to hav~
msde a charpe aysinst any such mone~ immediately upon the acurrerxe of such~ default even thouyh such charye is made w entered
on the books of Bank subsequent thereto. Unle:s the Collate~al is perishable a threstens to decline speedity in vslue or is of s fype
customarily sold on s recoynized market, Bank will qive Maker reasonable notice of the time and place of any public sale thereof or of
the time sfter which eny privare ssle or any other intended disposition thereof is to be msde. The requirement of reasonable notice shall
be met if such notice is mailed, posfa9e prepaid, to ar+y Maker ef the sddress yiven be~ow a at any other sddress shown on the rec-
ords of the Bank, a? least five days before the time of the sale or disposit~c•n. Upon disposition of eny Collaterel sfter the xcurrence
of any defsult hereunder, Nlaker shall be and remain liable for any deliciency; and Barik shsll xcount to Maker fa any surplus, but
Bank shsll have the ri9ht to apply all w any pa?t of s~ch surplus (or to hold the same as a reserve ayainst) any and all other liabilities
of each or any Maker to 8ank.
No delsy or omiuion on the pert of Bank in exercising any riyht hereunder shsll operste ss a wsiver of such riyht w of any othsr
riyht under this note. Presentment, demand, protest, notice of dishonor, and extension of time without nofice are hereby waived by
esch and every Obliqor. The Obligors, jointly and severally, promise and sqree to pay sll costs of collectioe and rtssonable ~ttorrnys'
fees (not less than 1096 of the p~incipal sum) irxurred w paid by Bank in enforcinq this ~ote upon the occurrence of any defsult.
Any notice to Maker shall be suff'Kie~tly served for all purposes if leff upon o~ placed in the mail, po~tsqe preps(d, sddressed to th~
pr~mises et ths sddress shown below w any other sddress shown on Bank's records.
Wherever this note is executed by a co-maker w endorter who is the wife of s msker w endwser, the ssid wifs does hereby ex-
pressly acknowl~dpe the within debt as her joint and individusl debt.
Each of Maker acknowledyes receipt of a compltted copy of this Note on the above date.
-
-
Addr~ss• '
-~t~~dFt-------------------------_.. . _._„t,,_ cs..n
ts'r'F1 _