HomeMy WebLinkAbout0869 JEN:.~I A~AGH fsANK INtTAItMENT NOTt
9ANK NAME I~Yf~ ~Ild UIIN~Yf~ S~ ~
a0 G~~nerciel St., J~ns~n Beach, FL 33457 April 80_ 3 58~.88
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IOCATION
Aprfl 1'.!~ TI ~w~ r•~m•:
NoN Ne. Dat~d: i9 o.«Nds s~aQ00•QQ
Thirty~six (36) Monthf p~u?~ ~ 498.82_
. . _ . . . . . ClI/1ROE 5.40
after date ths undusigned, hereinalter called Maker, jointly and seve?ally pon,m.n~~ry
prpmise(s for value rete~ved to pay to tM ;rder of the Bank, at ~ts off~~s S~.mp~
as Nsted a~ove the sum of (totat ot payments . Credit lih or lih
Thr . . . . a ~~s,bt~t?y) ~~u.s 80.66. _
thc,usa~c:d _f~Y~..hu~d~'ld.. ~.~qt~~y-.~eur ar~d .@8f
140--
. o~~... Oth~r (it.m~~~
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wifh inN~sf fh~non N fM r~N pf I~~~~L PK ~nnum, .n payabb in
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moothly i~stallments of =_~s~ ~~ch on th~ u... d~y o1
~ch suoauiw mooth comrn~nci^o w+ ~'~iY.. . 19 . ~oq~tMr with i
~ dAIIOON PAYMENT Of i. . ~J~IE . . . . . Dw AMOUNT
. 19 . . _
pNAwt~ s ..3,086.06
A firN oomput~d at tM rat~ of s.OS pa :1.00 ~ch inst~l!m~nt jn d~(ault ior ~~.a»ly coll~ct~d •
•p~ ~iod in ~xcess of 10 d~ys may be charq~d tM ker. No such fi~e ~h~ll e:ce~d ~h~~
s5.00. Mak~r ii requir~d to psy ~11 costs of tollection, includirq ~ re~aon~bl~ ~na- ~s (i~~mir) _
r+sy's iN if rof~rred iw collection w Ipsl pote~dinqs. All •peyme~ts, whetMr prin- -
cipal, int~ros~ w otherwiss, nw rec~ived when dw sMll bsar ime?est at 10°X. pe. i
~nnum from du~ date until paid. All pa~menrs made hereunde? shatl be c.ed~tad ANNUAL ~ERCENTAGE RATE l~ x,
~ fint fo i~t~rt~t, then to lawful chuq~s'th~n ~ccrwd, ~nd Ias~ ~o principal.
If tM loan is pr~p~id in full, aoc~lerated or .efinanced, the Maker shall as ot rhe d~te of such ewnt ~eteiw such retund of th~ un.
~aned portion o} the c~edit lifs insur~ncs p~emium a~d finsnce chs~ge a~+d svch olher ~redif m~y be rsquired by I~w w as n?ay b~
necess+ry to avoid usury, provided thaf th~ Holder may re~ain a mimmum finar+ce charye o/ =25.00, whethsr a not otherwise earrnd, -
~r?d excepl in the case of a re(inar+cinq, no finence chsrqe o? premium refund sh~ll b~ m~de if it amovnfs to less than :1.00. Rettntion
of ~ny min~mum financ~ sh~ll be in addition ~o servKe charge if sny. Any lanpusqe elsewhere herein to th~ contr~ry notwithst~ndinq.
n~ither Benk rwr any hplder hereof sh~tl recsive or retein_ any chuqa or interest not allowed by law.
As stcuriry for the paymant of rhis nore Maker h~s pledfled a depo:ited wirh Benk the foltowinq p~operty:
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-_l----- . RESORTS UF AM~kICA._Lot_ p1078~_ Secti~~ . I I__ a3_dlscri~d.--in_--~~~d.. M.o_rtq~g4.~
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(irxludinq ell ca~h, srock and othe. d~vide~ds snd all rights eo suburibe for_ securities inciden~ to, decl~red w yranted i~ conn~ction w;th
such propertr), which property, togeiher with ali edd~r~ons ar+d subst~tut~a+s herca(ter pledflsd or depos;ted w;th 9ank is celled the Col-
lat~ral. Ths Collete~al is also plecl9ed as secur~ty (oi alf other tiebil~ties ?o Bank, (prime?y, secondary, direct, continqenf, sole, ~oint or
sewraq, due w to become due w which may be he.esfte. contrxted o~ acqu~rid, of each Msleer (w of each Maker u?d sny otF?er per-
sa+). The surrender of this note, upon payment w otherwise, shalt not etfect the ~iqht of Bank to retain the Colleterol fo~ such other
liibilities.
CREDIT LIFE AND CREDIT LIFE b DISABIIITY INSURANCE ARE VOIUNTARY AND~OT~EOUIRED FOR CREDIT. Such insurente
coverpe ~s ava~la6le at the cost des~qnated below for the te~m of the cred~t: (s) s ~ ior Cred~t Life In-
wrence (b) : _ _ for Cred+~ Gfa b D~sabiliy insur~nce:
' Check .
` Appl. Ged~t life tnwrancc is desired a? the rfe of FTa[Ik HOffwd[~~ .Ir~
` BOx / /
i . _ _ Birthdate 4 ~ ~
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I ? Cred~t life 8~ D~sab~Hty Insursnce ~s des~red on _
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Q Credit tife +~d/or Disebility Insurance is not desired. ~ ,
! aprii is, 1977 i - , _ t _ . _
! Date: . _ Si nsturs
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i Siynature _FI'BD~C f{~ff111afl~ JI'~
! Additions to, reductions w exchanflds of, o? substifut~ons for the Coltareral, payments an sccoum of this loan or increeses of ffie
• seme, a othe~ loans ~+yde partia'ly or •wholly upon the Coilate?al, may from tims to time be made without •ffKfinq the provisions
of this nofe. Bank shali eaercise ressonabte u.e i~ the wstody and prese?vatioo of the Colfaterol to the eatent ~equired by applicsble
~ st~ture, and shall be da~med to have e:erc~sed reasonab~e ure if ir rakes such sction lor thst purpou ss Maker si,all ressonably ~equest
I. in writinp, but no omission to do any ac~ noe .eQuested by Nlaker ~hall be deemed e failure ~o exe.cise reaso~able cue, and no omis-
sion ro comply with any requesr of Make. shall of itsetf be deemed a failure to exeruse ressonable cs~e. Bank shall not be bound to
'I take any steps necessery to prese.ve eny •~ghrs in the Collateral against p.ior psrt~es and Meker sha11 t~ke ell necessary steps fw sud~
purposes. Bank or its nominee need nut collact interesr on or princ,pal of any Cotlater~t or give any not~ce with respect to it.
; If the Coll~teral _shsll et any ~ime become unsatnfactory to Bank, Meker shall within one day affer demand pledqe and depoait
with Bank as part of the Coltsterol sdd~tionsl property which ~s sarfsfscto~y to Bank.
i if Bank deems itself insecure, w upon the hsppemng of sny of the fotlowinq events, esch of wfiich shall constitute a def~ult here-
under, aII li~bili~ies of esch Mske. to Bank shsll thereupon or thereef~e., at the optio~ of Benk, w;thout norice o. demend, become due
and payablc: (s) the failure of sny Obfigo~ (which te~m shsll mean and include esch Maker, endo.u~, swety, and guarantor of this
' note) to perform any aqreemeM hereunder, to pay inrerest hereon within ten days efre. it is due, or if there be no due date, aher it
is billed or otherwise requested o~ demanded, to pay ~ny other liab~l~ty whatsoever to Bank when due; (b) the death of any Obliqor
(c) the filinp of any petition under the Bankruptcy Ad, o? any similar federal w stete statute, by orag ai~s1 eny Obliqor; (d) en applica-
i tion (or the •ppointmenr of a recerver for, the makinq of ape nerel assiqr.ment /or the benefit of creditas by, o. the insolvency of any
~ Qblipor; (e) the cntry o( e i~dgement againsf any Obligor; {1) the issu~ng of any attschment or garnishment, w the filinq oi any lien,
I aqsinst any property of any Obliyo~: (q) the tek~nq of possession of any subsrsntial pert of the property oi any Obliqor at the imtence
of any ~overnmental authoriry; (h) the d~ssolution, merger, consol;dario~, o. ~eorqamZSt~on o( any Obliqor; (i) ~he assiqnment by any
~ Msker of •ny equity in any of fhe Collateral without ths w.;tten consent of rhe Bank. Eech Obliqw hereby wsives any requirement of
j notice or demend reflecting such scceleret~on inwlar ss such requirement be in addition to fhe mere e~cercise o~ any remedy efforded in
~ this Note w the institutio~ of sui? by the then hofder.
8ank shalt hsve, bvt shall not be limited to, the following riohts, each of whMh may be exercised st any t~me whether or not shis
~ note is due: (i) to pledye or t.ansfer this note snd fhe Collareral and Bank shell thereupon be relieved of all duties end responsibilities
€ ~ hereunder end relieved from any snd ell IiabiGty with .espect to eny Collaterol w pledqed o. transferred, end any pledqee or trens-
i feree shall ipr all purposes ssend in the plsce of Benk hereunder a~d have all the righrs of Bank he.eunder; (;i) to trons(er the whole
j o~ •ny part of the Collateral inro fhe name of itself w irs nom~nee; (~ii) to vote the Collareral; (iv) ro ratify the Obligas of any Col-
~ laterol to make pa~mem to Bank of any smounts due or to becane due ~hereon; (v~ to demsnd, sue fo?, collect, or make a~y compro-
mise or serHement ~t deems desirable w~rh ~eference ~o the Collsteral; and (vi) to take conrrot of eny praeeds of Collateral.
i Bsnk is hereby qiven s lien upon and s secu.ity interest in all p.operty of exh Obligor now or et aRy time hereafte~ in the pos-
' session of 8ank in any capacity whatsoever, includin9 but not limited to sny batance a share of any deposit, trusf, o~ aqency eaount,
j as the security ior ehe psyment o( this note, and s similar lien upo~ a~d setu?ity interest in all such p!opetty of eath Meker as security
~ fw the payment of eIl o~her li~bilities of e~fi Maker to 8ank (including liabilities of each Maker and ~ny other person); and Bank shall
~ have the same righrs ss to such p.operty as it has with respect to the Cotlateral. "
~ If Bank d~ems itself insecvre w uoon the occurrer.ce of eny default hereunder Bank shsll have the fo~eclosure and other remedies
of a secured perty under the Uni(am Carwnercial Code, or othe~ ~pplicabk Isw and. witho~t I~mifi~ the generality of the (wepoinq,
Bank shalt have the ?ipht, immedistely ~nd without further sct;e~ by it, to set ofi apeins/ this note ~I mwroy owed by Bank in any ts-
pacity to each w a~y Maker; snd if s~ch set off shall occur, Bank shelf be dcemed ~o have e~cercised svch right of xt off and to have
msde s charqe eqainst s~y suth money immediNely upon the acu.re~+ce of svch defsult even thouph such charge ;s made o. entered
o~ the books of Bank subsequenr rhe?eto Un~ess the Collste.~~ is pe.ishabk w threatens to decline speedily in value w is of a fype
a'o customarily sotd on s recoqni:ed market, Bank wil! q~ve N4ke~ reesw+sble .atice o/ the t~me and place of any public sale thereof o. of
Q~ the time after whi;h any privNe sate o. any other ~ntended disposirion thcreof is to be made The requi.ement of reaso~sble ratice shslt
~ r be met if such notice is msiled, pwrpe p~epaid, to any Maker st the sddress given below or at any other address shown on the reo-
~ ords of the Bank, et teast five deys be~ore ihe t~me of rM s~~~• or d~~pos~~~on_ Upon d~spos~t~on of any Cotlsterst afrer the acwrence
of sny defsult hereunder, Maker shall be and rem~~n liabfe r eny deficrency; and Bank shall sccoum to Make? (a eny surplus, but
~ Bank shall hsve the riqht to apply all w any pan of s~ch su. .vs (o? to hold the same ss a reurve a9ainst) arty snd all other liabitities
of exh w•ny Maker to Bank
No del~y or omiss~o~ on the p.s.~ of Benk in e¦ercisinq any .iyht he.eunde. shsll ope.are ~s e weiver of svch riyht or o( any other
~i riyht under this note. Preseroment, demand, protes~, notice ol dishonor, and exrension of time w~thout nor,ce are hereby waived by
~ exh and every Obl~yo~. The Ob~ipors, ~ointly snd seve~alty, prom~u and sqree ro pay s~! cosfs of co«ect~on end reaion~ble etto.neys'
~ fees (no1 tess than 10°,re of the p~;nc,pal sum) incurred o~ psid by Bank in enfwcing th;s note upon rhe pccurrence oF •ny default.
I Any notice to Maker ihall be su~f~cientty served fw al1 p~rposes if leit upon or plsced in the mail, pos~afle prepaid, addressed to the
p?em~ses et the add.ess shown beloyv or any ofher address shown on Bank's records
~ Wherover rhis note is eRecurcd by a co-make. w endo.ser who ~s ths wife of ~ mqR a endo.ser, ihe said wife doei her ' ex•
pre~sly ackrww~~dps the w~thln debt •s he. iant and ~r+d~vidv~t debr.
Each o( Maker acknowledqes receipt of • compl~~ed cepy of rhi• Noh o~ rhe ~bov d~re /
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420 N. tiapl e 5t. ~ %
_ _ _ ra Hoffr.r~n, Jr - . _ s..n
~+t. Prosp~ct~_ IL _ 60056 ` v ~ 1. ~ , ~ , /
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