HomeMy WebLinkAbout0078 c INSIALLMENT NOTE
`t~,~~~~~-~I~K--~-BANK NAME ~u~~_._ (SOlYtbd and Unsecured)
~~"?STS~~'1~~E_2~?C~?,__.IEt~SFN ~FACH,_FLA._`~__..__~ o,,.: __January .2~~9 82._ S 11,209.20.__
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. Noie No. ~ Ostad: ,Idt111a1'~!_19~1 19 _~Z ~a^ Terms:
v~«eeds i . _.8:400.00_.
' Sixt (60) Months_ FlNANCE _ .?~!~17._25...
- Y. . - CHARGE 16.95
after date the undersigned, hereinatter called Make~, joinlly and severally ~ocumenury i~
promise(s) ior value rece~ved to pay to the ordsr o1 !he Bank, at ~is oftics Stamp~
as ~isted above 1Ae sum ot (total oi payments)...._ Crcdit lite (a lits 375.00
Bleven thousand two hundred nine and 20/100--_ b Disabeliy) Ins.i
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. Dotla~s Qther (it~mize)
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with ~otereat thereon ~t tt~s rste ot ...10.Q0_. •._..X pe~ annum. ~It payebl~ io = ~
-60 ma:thly instal!ments oi t. _.Z86.82_, e~ ~ th~ _..~~S~.. dsy of ~
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each successi~e ma+th cawnenun~ on ~eb,__2~}_._, 19._._77 toqethe~ w~th aMOUNT
a BAIIOOM PAYMENT OF I1QRe__. Dw 19 FtNANCED = S 791.95
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A~ne compu~ed at Ihe r~te of =AS per 51.00 w+ exh instat!meM in detaul~ fw ~~~~1eh ~o~~~
~ pcrtod in e~ceas of 10 days may !+e chargeci the MaS~e~. No such ~ine shs11 exceed ~},~rqes Clcmite) ~
:3.00. A~aker ia requ~.ed to pay all cosls of collection. includir~q a reasonabte atlor- _ .
ney'i i~e if rcier~ed iw col~ad~on or te9a1 proceedin9s. All payments, whe~he~ prin-
tipal, interest or otherwne, not ,eceived when dus shs11 bear i?neresl at 10 : per
a~n~m f~om due date until paid. All payments made he~eunder shsll be cred~tld ANNUAI PERCENTAGE RATE .1Q. %
firat fo interest, lhen w lawlut chsryes ~hen accrued, and fast to W~~c~psL -
If the loan ia prepa~d in futl, accelera~cd w rciinanced, the Ntsker shall as oi the date of s~ch event ~eceive s~ch ref~nd o~ the uo-
earned pwtion of the credit liie insurance p~emium and finance charge and such otker crrdit u may be reqvired by Isw a as may b~
neressary to avoid ~sury, p?ov'~ded that 1F+e Holder miy retai~ a min~mum i~~ance tha~9e of s?5.00, wF+ether or ~ot otherwise earned,
and except in fhe cass of s~cfinancinq no iinance charge w premium .eiund shall be made ii if amounfs to less t.rian *Y:00. Re!ent~o~
o~ any minimum ~nance shall be in s~dition to xrvice charge if ae+y_ Any langvage elsewhere herein lo the contrary notwithstsnd~~y,
neither Bank nor aoy holder hereof shsll receive or retain a~y char9e w infe+est not altowed by law.
As security for the psymeot of this r?ote Maker has pledQed w deposited with Bank the followiny proDerty:
REAL. ESTATE_MOR'IUAGE-Lot 138a._Section.II:_ Outdoor Resorts of America
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(includiry all cash, stotk and other dividends and all ~i,~hts 1o subxribe 1or securitics intident to, declared ot granted in cor:necfion with
suchp~ operty), which property, together wilh all additions and svbstitutions heiealte~ plcd9ed p deposited wi~h 8snk is called the Co1-
lateral, The Cottateral is also pkdged as security Iw all other liabilities to 8ank, (primary, second~ry. dired, contingent, iole, ioint or
seoersl), due w ~o become due or which may be hereafter ccntraded or xquired, ot each Maker (a of each Maker and any other per-
son). The eurrendar of fhis r+ote, upon payment dr otherwisa, shall not afiect the r~M of Bank to retain the Collatersl ~w svch other
liabilitits. '
CREDIT IIFE AND CREDIT IIFE a OISABIItTY IPiSURANCf ARE VOlUNTARY AND,(~QI EQU IRED FOR CREOIT_ Svch insurance
coverape is availabte at the cost desiynated bebw ior the term of 1he credit: (a) S.. .~?_L~.~S~._____._._._.._._______ iw Credit Lifc In-
surance (b) f---- for Credit life 3 ~isability lnsv~ancr
Check
APP~- CJ(Crtdit Life Insurance is des~red on the liie of _~~X'(J~_J~.. ws~.~.t?Olt-------------
eoi Jul 24 1925
~10,Q~Q . for--bOmas. e~~thdare - - --Y - - - -
f] Cred~t tile 3 D~sability Insu,ance ~s desired on _ ~
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- ~ - B~rth:ate _ - - _ . - - ~~r
Q C.edit Gfe and/or Disability tnsurance is not des~red.
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ea:e: .7~;~Ud~C.y_ 1~ ~_._19?Z S~gnatv~e X._/~_~ ~
Siy~ature GeJrCS~ J. :.._3 h~7.t •
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f.d3
~'~i to, reduct~ons or exchanges of, w substitut~cns for the Co'~r!eral, payments on xcount oi this loan or intrerses of the
• sa~e, o. osher loar.s made par~ially w whofly vpon Ihe Co'~ateral, may i.om time ~o time 6e made w~thcut af(eding the provis7ons
of ~~~s no~e. Bank sh~ll e•e~cise reasonsbfe ure in tt.e cvstody end preserva~~o~ of ti~e Collale~el ro tF+e eatem ~equir!~d by applkeble
s'a~u'e, and shalf be deemed ~o hss~e eaerc3xd reasonab~e care it it takes such ad~on ia that purpox as Maker shsU reasor:ahly req:iest
ir. •Nr;t;ng, but no om~ss:o~ to do ar+y ~c1 not requested by Maker shall be dcemed a ~ai(ure to exercise ~easonable care, and r+o omis-
s~cn to cw. ptY w[th any request of N~a4rr shall of itself be deemed a failure to exerc~se reasonable care. 8ank shall no~ be bovnd to
!aKe any s~eps necessary to preserve amr r'~hts in 1F+e Collateral agsinst pria parties and N.aker sFall take all ne:essary steps tor s:?ch
p,,r;•cy s 8ank or tts nominee need not co lect interest on or prirx~pal of any Collaterat or pive any notice with resped to it.
If the Co!!ateral sha!I at any time become unsatisiactory to Bank, Maker shall within one day afier demand piedge and deposit
'I w~th Bank as part of the Collase.al addit~onal properfy wFfich is satisfsdory to 8ank.
~ If 8ank deems itsef{ insec~re, or upon the happening of any of tFx following events, esch of whith sha11 constitute ~ defauit hett-
~ under, all liabil~ties of ea:h AAaker to Bank shall tke~evpon or thereafter, at the option of Sank, witf?out notice o~ demand, become dve
and payable: (a) 1he faiturc of any Obl~gor (which term sha!! mean and include each Maker, endorser, s~~ety, and yuarantor o~ this
~ note) to per~orm sny agreement hereunder, to pay interest hereon within ten days atter it is due, or if the~e be no due date, a~ter if
f is billed or othe?vvcse ~equested w demanded, to pay any other Gsb~lity whatsoever fo Bank whee due; (b) the death of any Gbl~go~;
(c) fhe fitinQ of a~y p~titio~ onder tht EankruFtq Act, a any similar lederal or state sta~ute, by orag ainst any Obli~or, (e~ an a;.pl~ca-
s~on for the appantment of a receiver for, tfie meking of a nerat asz~ynment (or the benefit of creditors by, or the ~nsol.ency of any
O~!iqor; (e) Ihe enfry of a judgerr~nt against any Obligor; (~ihe issuing of any attachment or garn~shmeM, or the fil~r.g of ar~r I~en,
against any propeAy o( amr Obligor; (g) 1he taking of possession of any subslantial parf of the property of any Oblig~ at t?,e [~stance
of any gorernmental auttwrity; (h) 1he dissolution, me.ger, co~sot~dat~on, o~ reo.gan~zatio~ oi any Obligw; the ais~gr::r,ent by ~ny
Maker of any eQuity in sny oi the Co11a1ersl wilhovt the w~itten tonsent of 1Fu Bank. Each Obligor htreby ~+.a:~es any ~equirement of
not~cc or dema~d reftect~ny svch sccekrat~on insofar as su:h requireme~t be in addition to the mere exerc:se of any remedy a`.to~ded in
this Note w the institution of svit by the then holder.
Eank shsll have, but shsll not be limited to, the Iofiowing r;ohts, each of which rnay be e:ercised at any t~rr.e wFetF er or not th~s
r+ote is dve: ('Zto-ple~4r tronster this note aod the Collatersl and Bank shall thereupon be relieved of all duties and re:pr.ib:l:tTes
F:ereurder and re{ieved from any and all liability with resp~tit to any Cotiareral .so pfedged or taansferred, and any p e3gee or srans-
feree shal! Iw all pu?poscs stsnd in the plxe o~ Bank hereunder and fiave all the riflMs of 8snk herev~der; (i~ to trans.'er the w?~.o'e
or any part of the Cotlateral into the name of itseN or its nominee; (ii~ 1o vote 1he Cotta~eral; (v) to nof;fy t~e Obi~yc~s of a~y Cct.
lateral to make payment !0 8ank of any arnouMS dve or ~o become due thereor?; (v) to d?mand, s~e for, collect, or make any cc~npro-
m~se or set~lement it deems desirable with ~e(erence to the Collateral; ar?d (vij to ta4e cont~ol of any p.oceeds ot Colla'ernl.
Bar.k is hereby. yiven a lien ~pon and a secvriry interesi in all property of each Obligor now or st a*+y t~me hereaf!er in tF~ prs-
.a~s~on of Bank in any capacity whatsoever, irxlud]n9 but not lim~ted to any bafance or share of any deposit, t~vst, o~ o;e~+cy a:ccunt,
es i' e secu~ity for the payment of th~s note, and a sim+ia~ lien up~sn and secvrity interest in all sucF+ps o~.ecty of each /:.a~-e~ es sec~r"s~
;or r=e ~'rmeni of all atner Gabilities o( tach l~laker tc Bank (indud~ng t~abii~ties of each Maker aod any other person?: _sr+.! Bn^i sz•+'~
r._.e t~.e :~rr.e r;9~!i as to such property as il has wifh res;r_ct to 1^e CoHeteral.
if ~:'IC (SE@.T.S ItS°1f insecvre a? upon the occwrer+:t ot a^y de`~~it f•t•ev~dsr 8ank shal{ have ehe fo-ccSosure and e:~.e- ~~~-°a~es
~:f a:-;u--j party under the Un;Sorm Commercial Code. o* c?%.<_, ap~~~:~~- e'aw ar.d, v,ithout limit~ng Ihe 5er.era:ity of :ce `ve;~:n~.
~_-i s}al' =:~1e the ~igfit, immediate}y a~+d withart lurti:er ~:t;c~. hy +r, *c s~s otf ayainst thls note all mor.ey c~ed by E~~.k ~n ~~y ca-
y~;~•~ so :,:h or sny ?raL.cr; and if sucf+ xt off shall acur, g~r'. s=a" 't z~_-~-ed +o }ave exe~cised such riqht of set o!f an3 r~ ~ave
~a a c~ a•3e a;a~rst any s~rch mo~ey immediatefy vpon tFe o~_v~cr _e ef s~ch d~`sul~ even tho~gh s~,ch cher9e is r~j3e M E:~?'e~
= of Eank svbsequwM the~e~o. Unless the Cot:a'_*at :s r:-'s ~;~e o- tzrea:ans to decGne speedily in value or is of a',;,e
r so:d on a ~ece~n~red market, Sa:+tc wiQ yive !.'•a4er ~cai.--= e-~~'-:e of t}~e t+me and place o~ any pobl~c sa'e tF.ere~~ or of
. Tt a='er Nh;.?~ eny p~iva!e sate w any o!her ~~,tended d:e~~s t:-•- = s+o rnade. i}•e +equireR:eM of ~easonab'e n.::cc s~ ~11
. '-2 -F! if s?h nct~:e ~s m.a+iEd, postage p~epa:d, to a~y Ma~er at t- --;-.r b^-'cw or at any other ed3-ess sho~+:n oa t':e seC- -
~ C' ~4 Gj s~3'iK, d' .C-3SJ ,IVG dars be~~e the tisr.e of t~:e s::e o~ d-_.= c. .s~•~on of any Col!a•e~al ef:er 1=.e e-cur-t-n_e
' ~,o r.•~ ~~`>,'t ~-,e-e~-~er, MaLer shall be and remain I~ab1e ~w ar.7 ~ °_~k sha!t accot~nt to Nak« for any su~~:~s, b~t
~a-k r~a:f ~a+e tee right io ap~!y a!J a a~y parf of such surp!vs (or i~ ~ ~s a~eserve a;,ai-sq a~y arx! alt ctner :.__:~::c~es
c~ ca_h or acy !.'.a4er to Bank .
No de'ay er or.~iss~on on stie part o( S3nk i~ exerc{si.~g any r;~:. s`~'' %~':a'e as a wj+ver of s~xh r;3'+t c• ef azi c'ler
r:g'r.f v~der sh's nose. Aresen!rrent, dema~d. pro'esl, notKe of s= _ :-s cf r;rr.e :vit~+.ut n~r::e a-e ~e•e~; +•~`-e3 5Y
E3C~ a~d ~.e.ry Cb'~g~r. Tr.e C:~•~go~s. io:nt!y a-d se.era?iy. P~c-r~~a :.~y c_sts of ce''~..t'c~+ a~j /E~'<~'a~:2 ;..,.~eri
~ers (no? 'eis t.`•an 1L'Oe of the pnrr_~~a! sum) incur~ed or Fa:d 6y cs-.k ~c:c:-3 t~.~s nc:e ~pon 1~.e o:c.~rer.ce ::f a-~ ~~e'~u:t.
~ Anr n:,'~x to ltaker s~^•ail be suffi::ently se:~ed 1or all pvrpcses ii it.`t p'~:ej ~n tFe rr.ail, ~os~:~e ~:epa:d, e•~~ e_:ed ta t%.e
~rs p:emEses at tF~r adiress shcwn belo•.v o+ any otF.er, address shcxn on ~'s ~
Whe:e.er th:s ~o!e is executed by ~ co-maker or endorser who ~s e.:.=e o' ~ r:.er or endorser, t~e sa~d .v;/e d:es F.ereby ex-
pressly a_kno+v~e33e ti:e within debt as her joint a~uJ irrl+v:dual drb~. /
~ Each of ltsker ackn.;wledfles ~ece~pt ai s comp'esed copy of tF~s hote o~ the above da+
Address: 1729E Iys:1i C'?t~~~ - - - X -'f-.~ ~ % . i ! r;o~7
_ . ~'~,:.LY_"~jc? T ::%i~_liOl~ . - - .
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Stronc~svi21~, Oj~io 4~136 X / ' L ! I ~ ~//~i/ '/~s_,~I
- . . . _ . ~ry A. :~~ii.lx~7,~. . _