HomeMy WebLinkAbout0153 . . :1
;
~.':`L', t::.:s~ I'~~:~'_'. INSTAIIMENT NOTE ,
BANK NAME r (i~cund ~nd Un~cu~d)
Yi 7• . ~.~a tJ ~ :Ti.~l:`L'1'= ~~a:.'~-.~? ~ j~~~~a~.L`-sr~ ~ ( ~ , . 5 ZJ~ . i. . .
Du~: ~ „~.~.1 • ~ ~ 19 ~1. : ' ~
1~1C4TInN ~
~ lwn Tums:
Not~ No. Dat~d: ~Ct. 2c. 19 76 ,
~ Proceeds s . 4 ~ 122 . '~0 ;
_SixtY.._~SJ~ tikinths. ~ HNANCE _ ....1_~.132.~~1._..._ .
_ . ~ CH#RGE ~
- -
aite~ date the undersigned, hereinafter called Maker, ~ointly an~ severally Oocumenary i_..._...........____._.._.._...
promise(s) tor value received to pay to the o~der of the Bank, at its oi(ice St~mps •
as tisted above the sum oi (total ot payments)_ . . _ Credit life (or tifs ~ ~ ;
F~Y~__Tf1QU~t~MQ_. T1_~UU_ Nl}NDR~D_..F_I FTY-_FQUR---ABD_ ~30~ 1:~0_.. . ~ Di:ab~Itty) ~ns.t
r it ze
- Othe ( sml ) ~
- . Dollars
_ • s
wlth interost tMrson et the rate of .~Qa Q~ _ 9fi per annum, sli yable in ;
monthiy installments of s.__. _.O~.a 5$. esch or+ the ~ j~ s ~
ir . day of
•~ch suoc~uive mo~th commencinp on Yt..- 19..?.~j, toqether wHh i..-.-•-----.._--....._.------ ~
a BALLOON PAYMENT OF S- - . - - _ _ . AMOUNT
~~_.E_. Due . x-.. . ~9 FINANCED 4 122 ~10 ~
t ---..i.----~---'...---__.. ~
A fins computed at the rate of =.OS per =1.00 w? each instsl!r.?ent in de(ault for i
a pe~iod in excess of 10 dsys may be char~ed the Maker. No such fine shall exceed ~Parately colletled
s5.00. AAake~ is required to pay all costs of collection, includinq a reasonable anor- charpes (itemize) = I
ney's fee if referred fo~ tollection or legsl proceedinqs. All payments, whether prin• . " ~
cipel, interest or otherwise, not received when due shall bear interosl at 10% per i_..._____________________ ~
annum irom due date untit paid. All payments made hereunder shall be credited ANNUAL PERCENTAGE RATE i~.__ i
first to i~terest, then to lawful charges then accrued, and Iast ro p.incipal.
If the loan is prepsid in full, accelerated or refinanted, the Maker shsll as of the date of suth event receive such refund of the un- ~
earned portion of the credit life insurance premium and finance char e a~d such other credit as msy be r ~
9 equired by Isw or as msy be ~
neceuary to avoid usury, provided ~hat the Hotder may retain a minimum f~nance charge oi 525.00, whether a no? otherwise earned, ;
and except in the case of s refinancing, no finance charge or premium refund shall be made if it amounts to less thsn fl•00. Retention i
of any minimum finance shall be in addition to se~vice charge if any. An~ langvage eluwhere herein to the contrary notwithstandiny, 1
neifher Bank nor eny holder hereof shall receive or retain any charge or in~erest not atlowed by law.
As security fw the psyment of this note Maker hss pled~ed or deposited with Bank the follow} L`property:~_a__`~._~~~~~?_~J11~7V~:~Q~ ;
interest._fn_..._.__Turtie. Reef___GOnd._.:_I,.__reoorded__ i~ O.R. Beok 2~;~ Fage 29~1,_ lln~#.
ri'~tts
~4 and 45__in__Cond. _ C-5,_ Apt,__~~o. C-S._as _~escrlbed in satd~ _mortgage. _ ;
_
(includinp all cash, stock and other dividends and ali righis to subx.~be for securities incident to, declared or granted in connection w~th
such property), which property, togerher with a1i add~tio~s and subsur~tions he?eafter pledged er deposited with Bank is called the Col- •
latersi. The CoNateral is also pledged as security for all othe? liabilities to Bank, (primary, secondary, direct, contingent, sole, joint w
several), due a to become due o~ wh~ch may be hereafter contracted or acqu~red, of each Maker (o. of esch Maker and any other per-
son). The surrender of this nore, upon payment or otherwise, shall not aifect the right of Bank to-retaln the Collateral for s~ch other ~
lisbilities. -
CREDIT tlfE AN~ CREDIT IIFE d~ QISABIIITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO FOR CREDIT_ Such insurante -
coverafle is available at the wst designated below for the term of ~he vedit: (a) t. for Credit life In-
surance (b) S.-------------.- fo? Cred~t Life 3 Disability Insurance:
Ci~eck
AppL ? Cred~t Life Insursnce is desired on the life of .
_
Box
- Birthdate -
? Credit Life 6 Disability Insurance is desired on _ _ -
- .
- - - Birthdate - - - -
- -
Credif Life and/or Disabilify Insurance is ~otid ' ed. - - - - - - . -
_ ?a n~n.i D
Date: _____~tCt,~,___.~~_s.---~`~~h Signature X----- Y' • 3oor~e
- ; Signafure ~._.R.L.._-((~
----~_L-- =--L~~~. . Car1 a ~1. 8oone
Additions to, rcd~ctioni ~or exchanges of, or subst~tutions for the Coltateral, payments on account of this loan w increases of the
same, or other toans made partially or wholly upon the Collateral, may from time to time be made without affecting the provis'rons
' of this note. Bsok shall exerciu reasonable care in the custody and preservation of the Collateral to the extent required by ~pplicebte
I~ sfatute, and shall be deemed to have exercised ?easonab~e care if it takes s~ch action for that purpose as AAaker shall reasooaWy req"vest
in writinp, b~rt no omission to do a~y act not requested by Maker shatl be deemed a failure to exercise reasonable care, and no omis-
j sion to comply with any req~est of lVlaker shall of itself be deemed a failure to exercise reasonable care. Bank shell no! be bound to
fake any steps necessary fo preurve eny rights in the Collateral against p?ior parties and Maker shall take all necessary sfeps fw s~xh
purposes. Bank or its nominee need not collect interest on or principal of any Collateral or give any ratice with respect to it.
If tke Collateral shali at any time become unsatisfacto~y to Bank, Maker shall within ane day after demand pledge and depcuit
with Bank ss part of the Coltsterol addilional property which is satisfactory to Bank.
~ If Bank deems itself insecure, or upon the happening of any of the follow~nq events, each of which shall constitute a default hero-
under, all liabilit;es of each Mnker to Bank shall thereupon o? thereafrer, at the option of Bank, without notice or demand, become due
~ and payable: (a) the failure of any Obligor (which term shall mean and include each Maker, endorser, surery, and guarantor of this
note) to perform any agreerteent hereunder, to pay interest hereon within een dsys after it is due, w if there be no due date, after it
is billed w othe?wise requested or demanded, to pay any other tiability whatsoever to Bank when due; (b) the death of any Obligw;
(c) the filinq of any petition unde. the Bankr~ptcy Act, or any similar federal o~ state stature, by orsg ainst any Obligor; (t~ an applica- ~
tion for the appointment of a receiver for, the making of a general assignment for the benefit of creditors by, or the insolvency of a~y
Obliflor; (e) the entry of a judgement against any Obligor; (fl the issuing of any attachment or 4arnishment, or the filing of a~y lien,
against sny property of any Oblipor; (g) the taking of posussio~ of any s~bstenrial part of the property of any Obligor at the instance
of any governmental authority; (h) the diswlution, merger, consolidation, or reorganization of any Obligor; the assignment by any
Maker of any equity in any of the Collaterel without the written consent of the Ba~k. Each Obligor hereby waives any requirement of
notite or demand reflecting such aaeferation insofar as such requirement be in additien to the mere ezercise of arry remedy afforded in
this Nofe or the institution of suit by the then holder.
Ba~k shall have, but shali not be limited to, the following riahts, each of which msy be exercised at any fime whether w not this
note is due: C) to pledge o~ transfer this note and the Collaterat and Bank shall thereupon be relieved of all d~ties and responsibilities
hereunder and relieved from any and al! liabil~ty with ~espect to any Collareral so ptedged or transfe?red, and arry pledgee or trans-
feree shall fw sll purposes stand in ihe place of Bank hereunder and have a~l the rights of Bank hereunder; (i~ tp tronsfer the whole
w any part of the Collateral into the name of itself w its nominee; (iii) to vote the Collateral; (iv) to notify the Obligors of any Col-
lateral fo make payment to Bank of any amounts due or to become due thereo~; (v) to demand, sue for, collect, or make any compro-
mise or settlement it deems desirable with reference to the Collaterat; and (vi) to take control of a~y proceeds of Collateral.
Bank is hereby given a lien ~pon and s secu~ity interest in all property of each Obligor now or at any time hereafter in the pos-
seuion of Bank in any capscity whatsoever, irxluding bvt not limited to any balance or share of any deposit, trust, w aqency sccount,
as the security fw the payment of this note, and a similsr lien ~pon and secu?ity interest in all suchpr operty of each Maker as security
fw the payment of all other lisbilities of esch Maker to Bank (including liabilities of erch Maker snd sny other person); and Bank shall
have the same rights as to such property ss it has with respect to the Collateral.
If Ba~k deems itself insecure or upon the occurrence of any default hereunder Bank shsll have the foreclosure and other remedies
of s setured party under the Uniform Commercial Code, o. other applicabte law and, without limiting the generality of the foreqoing,
Bank shall have the right, immediately and without further action by it, to set off against this note sll money owed by Bank in any cs-
pacity to each o? any Maker; and if such set off shall «cu., Bank shall be deemed to have exercised such right of set off and to have
msde a chsrge sgainst any such money immediately upon the occurrence of such defsult even thouyh such charge is msde or entered
on the books of Bank subsequent thereto. Unless the Collate.al is pe.ishable w threatens to decline speedily in value or is of s type
customsrily sold on a recognized market, Bank will 9ive Maker reasonabte notice of the time end place of any public sale thereof or of
the time after which any private sale or soy other intended disposition thereof is to be made. The requirement of ressonable notice shsll
be met if svch notice is mailed, postage prepaid, to sny Maker at the sddress give~ below or at any other address shown or~ the ret-
ords of the Bank, at laast five days be~ore the time of ~he sale or d~spos~f~c+n. Upon disposition of any Collateral after the occurrence
of any defautt hereunder, Maker shafl be and rema~n liable for any deficierxy; a~d Bank shall sccount to Maker for any surplus, but
Bank shall have the right to apply alI or any part of such surplus (or to hold the same as s reserve sgainst) any snd all other liabilities
of each w arry Maker to Ba~k.
No delay w omission on the pan of Bank in exercising a~y right hereunder shall operote as a waiver of s~ch right or of any other
right under this note. Presentment, demand, protest, notice of dishonor, and extension of time without notice are hereby wsived by
esch and every Obligor. The Obligors, jointly and severolly, prom~se and aqree to pay ell costs o1 coflection and .easonable attorneys'
ftes (not kss than 10% of the prirxipal sum) incurred or paid by Bank in enforcinq thi; nore upon the occurrence of any default.
Any nolice to AAsker shall be sufficiently urved fw all purposes if leh upon w placed in the mail, postaye pr~paid, addrsssed to the
premises at the sddress shown below u any other sddress shown on Bs~k's recads_
Wherever thii note is executed by a co-meker or endorser who is the wife of a msker or endorser, the said wife does hereby ex-
pressly acknowled9e the within debt es her ioint and individusl debt.
_ Each of Maker acknowledyes receipt of a complered copy of this Note, on the sbove e.
I535~ S'~1 24~ ' ~
. ~ = cs..n
Address- ~h-._ - ~-----t~--~~~=~------ ---~4~-