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HomeMy WebLinkAbout0470 ~ t' Fs;T 3 F. _A G j~ ~ a i~ ~ INSTAItMENT NOTE ~ BANK NAME Z6 j1]~~s~~ nd U~s~cvnd) ~ ~ ~ ~J Comtr~ercial Street, JenaPn i3c.3:4 .~!ori~ p~~, ~s _ yp 8, l4~ . 0_ ~ GOCATION 1 Z r10r. loan T~rms: ~ Not~ No. Daffd: 14 Proceeds i ~~t. n . NNANtE t - ~ ~ - 1~~~ ` - - .---~.-L.-LY_.~.. ~--•----u'A---{--k_.~ - t~uutvE atter date the undersigned, hereinafter called Maker. ~ointly and severally Docurr~e~~r1r i .............._i promise(s~ for value rece~ved to pay to the order ot the Bank, at its ottice 5~+~+~Ps . as listed above the sum of (total of payments). Credit life (or life 1jOAe F'iCi?T TF' (~U~AN f~ t~1~' E: ~-~U1~ f>ttEP FORT Y-T ~''t` d~ Diubility) Ins•i ~ - . - a~~~~3~It~7~-------------•------,•-..•--~~• ----rs ~r(itemite ~ ~ - - ~ - - . i - :E:~ ~ n-- - . A a~.~~~~:~. a~~ p.r ~ela~~ - L Odll 1' e c rl 1 • U ::.~...w. . . - - _-~i~----,-- monthly installments oi =--L~.~.a.71 . each on the day of : e~ch suacessive mon~h comrneocinp on . . 1p toqethsr with > a BAItOON PAYMENT Of ..Nq21L- . . p~ - ~IJ_i~_ - ~?ou~ 5 3.~7. 30 T . 19 . flNANC~ S - , A iine computed at the ~ats of =.OS per fl•00 on each instal!ment i~ defaulr 1or ~~r~telycollected ~ s period in ezcess of 10 days may be char9ed the Maker. No svch fine shalt exceed ~harqes (~~emize) =5.00• Maker is ~equired to pay sll costs of collectioo. includinq a reasonabk attor- _ _ ney's fee if roferred for col{ectio~ or {epa! proceedin9s. AN psyments, whether p~in- tipsl. interost p otherwisa, not retsived when dus dhell bear interost at 1096 per = - - aonum irom due da~e untif psid. All payments made hereunde~ shall be credited ANNUAI PERCENTAGE RATE 1_'!~_ % finl to interesf, then fo lawful charges then accrued, and last to p~~~+cipa~• If the toan is prepaid in full, accele~ated o? refinanced, the Maker shall ss of the date of such event receive such refund of the ~n- t earned portion of the aedit li(e inw.arxe premium end finar+ce charge and svch other credit ss may be reqvired by law w ss msy ba ' necessary to evoid usvry, provided thst the Holder may reta~n a minimum finance charpe of 525.00, whether or not othervvise earned, and except in the case of a ~eiina~cinq, ~o fi~ance charge or p~emium retund shsll be made if it amounts to less than =1.00- Re?eniion of sny minimum tinance shall be in addition ?o urvice charge if any. Any tanguaye elsewhere herein to the contrary notwithslandinq, tMither Bank aOr any holder hereOf sfialt ttceive or retain any charge w inttrcst not allowed by law. As security for the paY~nt of ~his note Maker has pledged or deposited with 9snk the foUowi~?g property: Lot No. 'i wo, W indmill ~~i11aRe! _ Jznsen Iieac:.~,._Fivrida_ a3__c3~~c ti~r~t. ~n - = saici u~urt~a~,c. _ - < . - - - - - _ . - - ~ - - - - (irxtudinq all cash, stock and other dividends and all rights to suburibe (or securities incident to, declared or graNed in connectlon wiM # such property), which property, togNhe~ with all sdditions and substitutions hereafter pted9ed or deposited with 8aak is called the Co1- . lateral. The Collateral is also plcd9ed as security for all other Iiabilities to Bank, (p?imary, secondary, direct, continqent,_sole, ioint a several), due or to become due or which may be herea(ter contracted or acquired, of each Alaker {or of exh Maker snd any other per- son)_ The surrender of this note, upon payment a othe?wise, shall not affett the right oI Bank to retain the Colletersl for such other liabilities. CREDIT IIFE AND CREDIY IIFE b DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRE~ fOR CREQIT. Such insurance coverage is ava~iable at the cost designated below for the term of the credit: (a) S fw Cred~t life In- ' surance (b) S . _ . _ - - for Cred~t lile 6 O+sability Inw~ance: ' Checlc ' Appl. Q Cred'ef life Insu+ance is desired on tFx life of . . - ' 8ox ` - - - - - - Birtlu~ate - - . _ - - - - p C.edit life 6 Disebility Insurance is desi~ - - - - - - - : - - . Birt ate ' - - . r life and/or Oisabitity Insuronce is desir . - 't--- - - . ~fe: ~~3 _ r~t ~q~tUfe J aeph C. Gz rmichael t~- - - - - s~g~aw.e . Frances L. Garmichael . Addi~ions to, redudions or exchanges of, w wbstitut~ons for the Collateral, payme~ts on acco~nt ot this loa~ w i~creases of the same, or other !oans made parfislly•or wholly upon the Collateral, may from time to time be made without affeeTing the prwisions ~ of this note. Bank shall exerc+se reasonable ca.e in tl•a c~stody and . prese~vation of the Collateral ta ~fie extent required by appticsble j statute, and shall be deemed to have exe?cised reasonabte care ~f it takes such action for that p~rpose as Maker shsll reaw~ably requesf in writinq, but no omission to do any ad not ~eq~ested by Maker shat! be deemed a failure to exercise reawnable care, and no omis- ; sion to comply with any request of Maker shall of :tsetf be deemed a failu?e to exercise reasoneble care. Bank shall not be bound to < take aoy steps ~ecessary to preserve any r~ghts in tfie Collate.af aga~nst prior parties and hAaker sfial{ take ali necessary steps for such ; purposes. Bank or its nominee need not colled interest on or princ~pAl of any Collatersl or give any notice with respect to if. ; If the Collateral shali at any time become unsatisiactwy to Bank. Maker shall wirhin one day sfter demand pltdge and deposit with Bank as part of the Collateral additional p+operty which is satisfectory to Bank. If Bank deems irself insecure, or upon the happening of arry of the following events, each of which shalt constitute a defa~lt hero- under, all ~iabilities of each Make~ to Ba~k shall there~pon or thereaf~er, at the option of Bank, w~thout notKe or dema~d, become due and payable: (a) the failure of any Obligor (which t~rm shall mean and include exh Maker, endorser, surety, and gvarantor ef fhis note) to perfocm a~y agrcement fierevnder, to pay ~nterest hereon within ten days afler it is due, o: if there kx no due date, efter it is billed or otherwiu requested or demanded, to pay any other liability whatsoever to Bank when due; (b) the death of any Obligor, (c) she filing of arry petition under the Bankruptcy Act, o~ any simiFar federat or state statute, by or ayainst any Obligor; (d) an applics- t~on (w the appointment of a receiver fw, the making .of a general assignment for the benefit of creditws by, or the insolvency of any Obtigor; (e) the eniry of a iudgtment against any Obligor; the issuing of any attachment or garnishment, or the filirg of any lien, against any property of any Obligor; (g) the taking of possession of any substential part of the property of a~y Obli~ at the instance of any governmental aufhority; (h) the diswlution, mer9er,'consotidation, or reo.ganizat~on of any Qbligor; {i) the assignment by any Make~ of any equity in any of the Collateral without the written consent of the Bank. Each Obligor fiereby waives any reqviremeM of notice o+ demand reflecting such accekration insofar as such req~irement be in sddition to the mere exercise of any remedv effwded in ~i'a i:'v:c 'w ii~c iiuCiiv4iir~ 4i Sv~1 [ry iiie i~n tlOiaer. Bank shall have, bv? shall not be limited to, the following riohss, each of which may be exercised at any time whether or not this note is due: (i) fo.pledge w transfer this note and the Collateral and Bank shali thereupon be relieved of all duties and responsibilities hereunder and relieved from any and all liability with respect to any Callate.al so pledged w transferred, and any pledgee p trons- feree shaN for all purposes stand in the plece of Bank hereunder and have afl the rights of Bank hereunder; (ii) to transfer the whote w any part of the Collateral into the name of itself w its nom~nee: (iii) to vote the Collateral; (iv) to notify the Obligws of any Col- lateral to make payment to Bank of a~y amounts due u to become due thereon: (v) to demand, s~e for, collect, or make any compra mise a setttement it deems desirable with reference to the Collateral; ar+d (vi1 to take control of aRy proceeds of Collsteral. Bank is hereby give~ s lien upon and a scc~rity interest in all p?operty of esch Obligor now w at any time heresfter in the pos- sessio~ of Ba~k in any tapacity whatsoever, indvdinq bvt noi limited 1o any bafance w share of any deposit, trust, oraqe ~cy sccou~t, as the security for the payment of this note, and a similsr lien upon and security interest in all s~chpr operty of each Maker as sec~rity fo~ the payment of all other liabilities af each Maker to Bank (including tiabilities of each Maker and any other person); and Bank shall have the sart+e cights as to such property ss it hss with respect to the Collateral. lf Bank decros itself insecu~e a upon the occurrence of any defsult here~r?der Bank shall have the forecbsure and other remedies of a secured party under the Uniform Commercial Code, or othe~ applicable.law and, without limiting the generality of the foregoing, - Bank shall have the right, immediately and without further actio~ by it, to ut off against this note all money owed by Bank in any w- pacity to each or a~y Maker: ar+d if such set off shall occu~, Bank shall be deemed to fiave exercised such right of set off and to have made a charge against any such money imrnediately upon the aturrerxe of such defa~lt even though such charge is made a entered ~ on the books of 8ank subsequent thereto. Unless tIx Collateral is perishable w threatens to decline speedity in value or is of a type customarily sold on e recoqnized marke?, Bank will yive Maker reasonable ratice of the time and place of sny public sete thereof w of ? the time after whicfi any private sa4e w any other intended dispositio~ thereof is to be made. 7he requirement of reasonable notice shall be met if such notice is mailed, postage p?epaid, to any Maker at rhe eddress given below w at any other address shown_on the rec- ~ ords of the 8ank, at leasi five days befo.e ~he time of the snle w d~~pos~t~on: Upon disposition of any Collateral after the occurrence of any defauit hereunder, AAa4er sheti be and remai~ liable fw sny deficiency; and Bank shall accovnt to Maker for any surplus, bu1 ~ Bank shall have the right to apply all w any pa?t of such surplus (or to hol~ the same as a reserve agsinst) any and all other liabilities of each or any Maker to 8ank. ~ No de(sy or omission on the part of Bank in exercising eny right hereunder shall operate as e waiver of such right or of any other 0 right under this note. Presentment, demand, protest, notice of dishonor, and exfension of time without not~ce are hereby waived by each and every Obligor. The Obligors, ioinify and severally, promise and ayree fo pay all costs of collection a~d reaso~able ettorneyi fees (not less than 10% of the principa{ sum) incurred or paid by Bank in enforcing this note ~pon the xcurrence of any default. - Any norice to AAaker shall be sufficiently served fw all purposes if leh vpon a placed in the ma~l, postage , a to the ` premixs at the sddress shown betow w any other addreu show Bank's recads. y~ Wherever this ~ote is executed by a co-maker or endorser w is wife of a maker endorser, said wife does here ex- pressly acknowledye the within debt as her joint and fndividusl d t. ~ ~ EacF? of Maker acknowtedges receipt of s completed copy of t N e on t e ro. . • ~ .r0 . . : r ~ = vr n~-a o.: Roa ~i ~ N e Addreu: - - - - - - - - n , ~`C . , ~ t ` , r ` •~•~valic, C~rr.ecticut . ~~,q - - ' ---;E~el ` ~ FYr~t1f`~ _ . • '