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Home My WebLink About0983 • • - T . r : ' J~lS~N eEIICH BAMC ~~aT~~ Non BANK NAME I~V~ UIINlYI~ 40 Caw~rcial St.~ 1J~ets~n 8~ach~ 1~i. 33457 Mlas~h 26. ~~8~ = 10;272~00 LOCATIQN M~uCCh 23 T~ loan Tam~t , ; 0~1e1~ Ne. Dahd: 1 . 19 ; M«Nds i .7.l.~...~....!~.-~----• ~ i ----8i~ ~60~._ Montlu_.-------~-- C~~Ki~~ s _.2,3b6.5y ~ aiter date the undersig~ed. he~einafter alled MakK. jointly and seve~ally Oocun»nqey• i~'~_.._ _ promise(sj for value rece~ved to pay to the order of the Bank, at its oitice S~unpa as I+sted abow the sum of (totat oi payments). . . G~dit lih (a lih 3~.~ ~ : _ i~n tAouwd . two hund~.. M~!~#x-L~_~d...~10~--- a o~~aiiti~ i~n.s Ddl~n 01hK lit~mit~) . ~Q•~~~ - wi Mnst tMrron ~t tM aN ol . _9~ pN ~nnwn. •11 abl~ in i _ . monthty InstallmMh of i~.~~ ~~ch on tF» ~day of - Cr~dit Rpt. s ,~,DO__~... ' Nd+ suoauiw moeth tomrtNntf on A~'.lY...~l----.. 19..77 roqetMr with AMOUNT ' • BAIIObN PAYMENT OF Ou~ 19 fINANC~ A ftrw computed at ti~ r~N of =.OS per :1.00 on ~~tl+ i~it~l!ment in dsf~ult fa :~~~~l~~ ap~ riod in ~xcess of 10 days may b~ chu9ed th~ AA~ker. No such fin~ shall ext~ed ~a~~~ti ~ ` t5•00. Maker i: rpvired to pay all costs of collection, incivdinq a nawnable ~nor- d+a.p~s (iNmit~) ney s fes if nte~red for collaction or lepal proca~di~gs. All payments. whetMr prin- ~ cip~l, inlerost a otherwi~, not r~csived when due shall bear interest 109f. ptr i------ --------~,Qa~~. t ~enum from due date until paid. All payrnents mads hereunder shall b~ credited ANNUAL ?ERCENTAGE RATE ~f, ' fint ro i~hrest, the~ ro law(ui charqes tben ~causd, and Isst to w~~~M~~ ~ If tM loa~ is propaid ie full, ~ccele~ated or relinanced, the Maker shall ss of ~he date of such ~wnt nceiw such roiv~d of N» un- ~ e~rned pation of the credit life insura~cs premium aod finance charpe and such other credit u may bt nquired by law w as may b~ netessary to avoid usury, provided that the Holder may relsin • minimum iin~ncs charqe oi =25.00, wF+~ther a raf otMrwiu ~arMd, # and excspt io the c~se of a r~(iMMifp, no finance charqe or premium .e(und shatl b~ mads if it amounts to I~ss th~n =1.00. R~t~ntion ~ of any minimum finsrxe shali be in additio~ to strvice char9e if eny. Any la~qua~e elsswhers her~in Io ths contrary ~otwithst~ndirq, ~ rwithsr Bank nor any holder Mreof shall receive a retai~ aryr charye w interest not allowed by I~w. rity f the ment oi this note AMker has pl~dqsd a deposited with Bank tM followirq prop~Ay: = OI~R R~SOR~S OF AMERICA Lot ~133. S~ction I as d~sesib~d_in . s~id 1~1ost~a~a~ ~ - - - b~-T~idi 1~1-osTd~ ~~3`sawi-~'r3~., I.D.~S76i~ipp2,~?1771, - - - - (includinq sll cash, stock and othe~ dividsnds ~nd all rights to subxribe fa securities incident to, decbred o~ yr~nt~d in conrnction with auth property), whith property, toqether with ~11 addirions ~nd substitutions hereaft~r pled9ed or deposited with B~nk is ulled tM Col- lateral. The Collstersl is slso ptedqed as secu~iy fo~ all Whe? liabilities to Bank. (primary. secondary. direct, contirpe~t, aole, joiM o~ ! severaq, due w to become due or which may be he.eatter cont.acted o~ acpuired, of each Maker (or of each Msker ~rtd ~ny o~her p~r- ~ son). Ths surrender of this note, upo~ payment a othervvise, sMll not affect the riqht oi Bank to retain the Coll~teral for s~ch oth~~ ~ (iabilities. , ' CEEOIT LIFE AND CREDIT IIFE 6 ~ISABIII?Y INSURANCE ARE VOIUNTARY AND N 7,~tEQ~ RED FOR CREDIT. Such insurance • coveraqe is ~vaifsble at the cos~ desi~nated below fo. the te?m of the credit: i _.~!~~N~.---_----_--.--_------ (or Credit life In- ~ surance (b) s - fw Credit life ~ Disebility Inwrance: ! 8~1. ~ Credit life Insurance is desired on the life of __.Stafford R~iff~~'1--J~'------------__-~--~• ~ - - - 0 000.~0 f~= 60 Mos. s~~~hd~te 6~ju ? ng- - - - - - - ; p Crsdit liie 3 Disability Insurance is desired on - - . - . &rthdate _ - - ' - p Credit life and/a ~issbilery Insurance is not de~irtd.. I~ _----_-t._-_----------------ti--. ; Date: _ Mi!'Ch._73~, 1977- ' j(,~/:_ ;r f'; j`~ . - - ,.~t - ~ S~ynatv.~ - .t . s~~aw.. ---Statford [t~ift~r:_. Jr. ~ Additions ro, reductions w exchar?~es of, or substitutions fw the Collaterol, payments on aaoum of this loan w lncrosses of ths ~ same, o? other losns msde partially or wholly upon ths Collateral, m f:an time to time be made withovl aHectinq the ovisions of this note. 8ank si?aU s:erc~x reisa+able csre in the custody ar?d pr~ervation of the Collate?~I to the extent requirad by a~pplicsbN ~ sqtute, and shalt be deemed to hsve exercised .easonsb~e ure if it tsk~s svch action fw that purpose as Maker shdl re~sonably :equesf in writiny, but no omission fo do sny ea not requesled by Mske. shall be deemed a fsilure to exercise reasonable care, and no omir sio~ to comp~y with sny request of Maker shell of itsslf be deemed s f~ilu.e to exercise reasonable are. Bank shall not be bound to \ ~ take any steps necesssry to preserve amr ri9hts in the Collateral aqainst p?ior "parties a~d Maker shsll take sll ~eceuary stepa for wch - ~ purposes. Bank w its nominse need not collect interest on or pnncipal of a~y Collate~al w give any norioe wiM respsct to it. ~ j If the Collate~sl shsll at any time become unsatisfactory to Bani~, Maker shsll within one day afte~ demsnd piedqs and deposit with Bank as part oi tha Collate?al additional prope~ty which is satisfactory to Bank. > If Bank deems itself insecure, or upon the hsppeniny of any of the following events, exh of which shall constitute a default Mra f under, all li~b~l~t~es of each Msker to Ba~k shall lhereupon o~ thereefter, at the option of Bank, withov~ notice w demand, becorne dve i ~ end payabte: (a) the failvre of a~y Obtiyor (which term shall mean end inctude each Maker, endorser, surety, and quaranta of this 4 note) to perfwm e~y aq.eement hereunder, to pay interest hereon within ren days after it is due, p ii tF?ere be no due date, aher it ; is bilFed or othe?wise requested or demanded, to pay eny other liability whatsoeve? to Bank whe~ dve; (b) the death of any Oblipw i (c) the filiny of sny petition under the Bankruptq Act, or sny similar federsl or stste statute, by oray ainst a~r Obligor; en applica- tion fw the appointment of e receiver for, the msking of e9 nerel assiqnment fa the benefit of creditas by, w fhe inwlvency of any ' Otliga; (e) the entry of s judgement syainst eny Obligw; (fj the issving of any attachment o~ parnishme~t, o~ the filiny of any lien, ~ aq einst e~y propertjr of any Obli9or; (g) the takiry of posseasio~ of sny substential part of the property of any Obliqor et the instance or ; of any qovernmental suthoriry; (h) the dissolution, mer~er, consolidation, or reo?ganizetio~ of any Obliqw; (i) the suipnment by any ~ Maker of ar+y eq~iry in any of the Collateral withovt the w.inen consent of ~he Bsnk. Each Obli9or hereby wsives any requirement of notice w demsnd reilectirq s~ch acceleration insofar as wch req~irement be in addition to the mere exercise of any rert?edy affwded in this Note or the institurion of suit by the then holder. i Bank shatl have, but shslt not be limited to, the followinq riahls, esch of which may be exercised at ~ny time whether w net this ; rwte is due: (i) to pledfle or transfer this note and the Collate~al and Bank shall thereupon be relieved of ell duties and responsibilitie: { hereunder and relieved from ~ny and all liability with respect to any Collate~al w pledyed or trs~sferred, and sny pledyee or trsnr t feree shall for all purposes stand in ths plate of Bank hereunde? and have all the rights of Bank hereunde?: (ii) to transfer the whole ~ o~ any put of the Coflsteral into the ~ame of itself w its nominee; (ii~ to vote the Collateral; (iv) to notify the.Obliyws of any Col- ~ lateral to make paymem to Bank of any emounts due or to become due thereon; (v) to demand, sue for, collect, or make any compro- ' ; mise o. settlement it deems desirsbk with re(erence to the Collaterol; and (vi) to take control of any proceeds of Collateral. ~ Bank is hereby yiven a lien upon and a security interest in sll property of each Obliyor now w at sny time hereaher in the pos- ; session of Bank in any capacity whatsoever, i~cludiny MA not limited to a~y balance or shsre of sny deposit, trust, w~e ncy account, ; as the securiy for tha payment of this note, and a similsr lien upon a~d security interest in al~ svchpr operfy of each Maker as sec~rity ~ for the payment of all mher liabilities of each Nlcke~ to B~nk (includi~y liabilities of each Maker snd any other person); a~d Benk shall have the seme ri9hts as to such property as it hss with respect to rhe Cdlateral. ~ If Bank deems itxlf insecure or upon the oecurrence of any deiautt hereunder Bank shall have the foreclosure e~d other remedies ~ of s set~red party under the Unifwm Commercial Code, or other appliceble taw and, without limitiny the penerality of the fotegoinq, ~ Bank shall have the riyht, immediately and withovt further action by it, to set off syainst this note all mw+ey owed by Bank in eny cs- pacity to each or any AAake?; snd if such set off shall oaur, Bank shall be deemed to have e:ercised sucfi right of set off and to have t made a cha~ge aflainst any such money immediately upon the occurrence of such default even thou9h suc}~ charye is msde w entered ` on the books of Bank subsequen? thereto. Unless the Collateral is perishable or threatens to decline speedily in value or is of a rype customarily sold on a reco9ni:ed market, 8a~k will y~ve Maker reasonabk notice of the time and p1acR of any public sek thereof or of ~ the time afrer which any private sate or any other ~ntended disposition thereof is to be mede. The reqvi~~nent of reeswuble notics shall - ~ be met if such notice is mailed, postsqe prepaid, to any Msker at rhe sddress given betow or ~t an~: dhe. address shown on the rec- i , ads of the Bank, at least five days before the Gme of the sab or disposition. Upon disposition of .~ny Collsteral after the occvrrence q of a~y defsult hereunder, Maker shall be end remain liabk fot any deficie~cy; and Bank shall ac[ouht to Maker for any surplus, but ; ~ Bank shall have the riyht to apply sll or ar?y pan of such surplus (or to hold ths same es a rlSQryf i~~inst) any and sll othe? liabilities , of each w any Msker to Bank. ` No delay or omissio~+ on the part of Bank in exercisiny any riflht hereunde. shsll oper~te as s w~iver o/ such riqht o~ of srry other ~ ~ riqht under thii note. Vresentment, dema~d, protest, notice of dishonor, and extension of time withovl notice are hereby waived by each and every Obliyw. Th~ Obli~s, jointly and severslfy, prom~se snd aqree to pay all costs of collFction and reasonable attorneys' ~ 'v fees (no1 kss than 10% of the principal svm) incurred or paid by Bank in enforcirp this note upon ~he acurrerxe of any default. ~ '-s Any notics Io Maker shall be sufficieMly served for all purposes if leh upo~ a placed in the mail, posiaye prepaid, ~ddressed to the . premises at the address shown betow w any other addreu shown on Bank's recpds. g Whereve~ this note is executed by • co-maker o~ endorur who is the wife o~ a maker w enciwser, thc said wife does hereby ex- ~ ~ pressly ack~owledpe the within debt as her jant and individ~al debt. _ i Exh of Maker acknowlecfqss reaipr of • compl~ted copy of rhis Note on ths,~pove d~te. ~ ~ w 312 Scabbard S.M. X " : - ~i % r .%t _ ~f ; cs..n : wdd..ss: - - - - - ~ s - - - Sta~ford ~~K~~ir; 3s: -----r------- - : - ~ Grand Rapids, Mich 49~08 X J ` - - :.,:1~ -1- - ~ ~ Fes »o z ra . _ _ - - ~Y ~~-~.s=: ~ ~