HomeMy WebLinkAbout0106 INSTALLMENT PROMISSORY NOTE
FiRST NATIONAL BANK OF FORT P~RCE ~N aK.~wa s 9. 000. 00
~ANK NAMH (9) Lit~%asib~lity Inst = 3~5.
_ Ps,~t Office Box 9?0 Fort Pierce, Florida o«++~+~vsa~+~os s 18.45
OFFICE AOORESS (D) OthM CM~q~s (itNnit~) =_Nene
' ~e1 = Nona :
NOTE NO. 24-2$68"6 OATE~: Jtl~Y 25 , 19~. (F) = None ;
(G) Amount Fin~nc~d
ouE: AUGUST 5 , t9~_ ~A, s, c, o, e. F~ s_ 9• 393. 45
1H1 ~nt~a~ : 2_ 841. 35 ~
Ac~: FORT PIERCE , F~pp~pq u? c.~~~ i~resc~tbn s 25. 00
1~1 O~Mr = _Nene
Fo. valu~ r~ived, th~ undtrsign~d (M~tinstt~r qlNd "Maktr") jointly and sev~.slly (it (K) j NOne '
nwre thin oM) prOmif~ to Wy to tht ordK of tAf Bink, ~t ils olfip listed sbOVe, thf TOqI ~
ct Psyrn~nts (from (N) a~n of ~ 12, 259. 80 po~qn p~yab~~ 6Q_ = None , ~
equ~~ month~y in:ts~~ 204. 33 , eh~ tint ~Ml FlNANCE CHARGE ~
instsllrtNe~t dw on ~ ,1~2 snd wbs~vuenc ~nsta~~rn~nts du~ on ~H, K, U s 2. 8fifi. 35
(N) Toal ot P~ymena (G + M) S 1Z- 259. 8~ `
th~_day of ~sth motuh th~rafter, ~o~thK w+eh a F~NAL BA~~OON PAVMENT OF: ANNUAI PERCENTAGE RATE 1 1~ A?_ ry~, ;
S 1~LnNE OUE NONE , t9 ;
Th~ Bu~k shall impos~ ~ dNinqu~ney ehu~ spaiost th~ MakK on s~ry paYment whieh h~s b~own~ dw snd nen~iro in d~fsult (or_ s pKiod in ~xo~ss of 10 ~
days in sn ~mou~t pual co 5% of th~ smount of t1~ pi~cipil part of ch~ paymenc in default. In [he ~vent thst th~ Nou is not p~id in full
st ma[urity. sll p~y- r
menca, wMcha prineipsl, interat w och~.wis~, shall b~sr iet~nst at th~ m~ximum laysl ~st~ sllowd under d+e lsws ot tM S~at~ of Flaids. All payments m~de t
hereundK shsll b~ a~dind first to intuat snd then to princip~l, howwrr, i~ th~ ~wnt of d~fault, tM Bink may, in its sol~ discntion, appiy sny paym~nt to
incerest. principal and/ar Iswful chsrga th~n ~ocrwd. It is tM int~ntion of th~ psrtas hento thst tM p~ovisiau h~nin shall not provid~ dinctly or indincdy
for tM WyrtNnt of a~rpta ?st~ of intKest or tM nt~ntion ot sny othK eh~?g~ M~n is dbwd by I~w. If, tw any r~sspn, intMnt in ~xa~u of sucA 1~1 pU o?
s chsrpt prohibit~d by law shsll st any tim~ b~ psid. ifly tUC11 ~%pfi fhall NthN COflftitut~ snd b~ uqad as s paym~nt on tM priecipd or bs nfund~d dinttly
t0 [M Mi~tM. i
. :
TM Mska msy p~~paY d+~ ~ntin unpsid bslsno~ of tM loao at sny cime. If tM los~ is p?~psid in full, aocN~racad or rtfirynpd, tM Nyk~r shdl rrpiv~ a ;
relund of tM unwrn~d portion ot tM iotKest snd inwrano~ pr~miums computed by eh~ Ru1~ of 78's m~thod, txqpc thac tM Bsnk shsll b~ entid~d [o nain
a minimum int~rat d~srp~ ot ~.00. _ . .
CREDIT LIFE ANO CRE~IT LIFE 8 ~ISABIIITY INSURA(VCE AfiE VOLUNTARY ANO NOT REQIlIREO FOR CREOIT. Sueh imunnp oo~wrs~ it
srs~isbN at tM eaa daignsted bNow tor eM mm ot th~ neditc la1 t375_ 00 on 31
Q+ 00(br Cna;~ ut~ ie~su?snc. (bl S~Ione 4
ro. c..dit uh a o~a~~ i~,a~x.: ~
cn,~k Cr~dit Lih Inwnea is daind on tM lih of ~ L@YOy C. Flovci ~
,aop,. . ~ e;~c,~d,n 1-10-26
Box ? Cndit Lih ~ Ois~bility I~pwsnp is daind on
Bi?thdat~ ~
a Cndn ut. s~,a~a ~isabir~r ~~uu,s~c. is no~ cksina. .
oate: Jul~ 25, 197? scooac~
~
Si9n~n,n ---t- - - ~ ~
As s~curity for tM p~ym~nt of tM Note th~ Nbker Nenby pnnp to tM 6snk a seturity intenst in Mi fWlowinp prop~rty: Lot 12
and tke S~uth 5 ieet of vacated allev adjacent on North Block 2, HILLCR.EST SUBD ION, as
p~er vlat thereof recorded in Plat Book 4, PaQe 41, of St. Lucie County, Florida.
~ncludin~ sll iner~, wbstitutam. r~plaamtna. sdditions snd scasswos thueto and in the prebteds thereot ihereinsft~r pll~d "Co1lstKS1"1. Thit t~curitY
inurast shsll sbo s~cun ~ny othN indebtednen o? lisbility of th~ Msker to the Bank dinCt w indireci, sbsolut~ or continpent, dus or to b~tom~ dw, now ~x-
~sting or ~ft~r ariprg, indudinp sll futurs advanees w losns by the Bank to the Mak~r.
Tt~ Bank it abo yiv~n a li~n snd s s~cu~t~r ~ntKest in a11 popaty and sewricies of tM Msk~?, tndorsn. wr~ty, g~wantw o~ scoonwnodacioo p~rty of tha
Note 1!»r~inafta ~ar~d to as th~ "Obli9o~s'1. ~ww in w st snY titn~ MrpftK ooming into M~ tontrpl. custody or possession of [M gsMc, wi+~1Mr fo? tAe ex-
pressd purpow of barg us~d by th~ Bsnk ss CollstaM, ar fw sny othK purpost. sr+d upon srry bNan~e or balsnoes to the credit of ury socQunts, iecluding
trust snd sy~~ey aceounts mainairnd wichth~ 8ank by sny of ths Obliyors. snd tM Obligors sgr~s to dNiv~. to tMe Bsnk additiwal Colbteral or msla wch
, paYm~np in nduction of tM printipal amount of th~ Iwn u shafl b~ satisfsctory to the 8ank, in th~ event the afo~ementior»d Colbtenl sh~ll d~din~ in wlw
~ or beeortr um~tisfaetory to the Bsnk. ;
Additions to. qductiorq or excAs~ges of, or wbstitutions for th~ Collateal. payrne~ts pn sccpint of this tosn w inneasts of tM sarr~. o~ other lo~ns madt ¢
E panistly or vrholly upon [M Coilatanl, msy frwn tim~ to tim~ b~ rnad~ withouc sffaccing the prwi~ioru of tha Nou. The Bsnk shall ~x~rtis~ r~asonabl~ Cire in
~ th~ wstody ~nd p?~rvation of tlw Collst~rsl to tM ~xtMt requind by sppliable ststut~, and shall b~ d~ernrd to hsre exertised resso~w~fe pn if R tak~swth !
~ action fa thst purpow as M~krr sl+sll n~sonsWy raqwst in w?iciny, but no omission to do sny sec not requated by Mske~ slatl be d~emW s failun to tzacae
resso~abN cm, and ep omission to canplY witb sny rpwst of Msk~ shall of itsNf be daemed a failun co exertise ressonabN pn. 8snk sASll not b~ bound to
cake any st~ps rao~ary to pnserv~ ~ny rights in th~ Collattrsl spairot prior psrtiss snd Msk~r shsN take sll necessuy st~ps for wch purposes. TFw 8ank w its ;
nom~rw~ nNd not oolNet inc~rest o~, or s principN of, any Collsbnl w giw anv notia wi~h resp~et to it `
I
TM Bsnk m~y continw co 1~ok! s~ry Col4terM dpo~ited Mrwndar aft~r tM psym~nt of this Nott, if at tM tim~ oi tt+~ psymsnt ~nd d~ Mr~of sny of ~
the p~rti~s liable for tM psyment t~erwf shaN be cMn dinctly or conting~ntly tiabts to the 8ank as Maker, endors~r, wnty, guxantor or aooommodation psrty
of sny othu nrn. d?s~t, bi11 ot exchang~, or oth~r instrumrnt, w od~wist, ard th~ Bank m~y thenpher exerc~se all
ri¢fts nnth n~ct to ssid ColtsurN
grant~d I+w~in Mn ~haph tha Not~ shstt Asw bMn w~hd to th~ IN~k~r.
Ii th~ Bank dNms itsNf in~wr~ w upon tht Mpp~nirg of sny of tM (otlowinp ~wnts, tseh of whieh ~11 caxtitute a d~fault, all li~bilitia ot ~aCh Maker to ~
che B~nk, indudinp tht ~ntin w+p~id prineipsl of thit No~t and sxru~d inar~st, l~ss ~ny ur~ewrMd inw~ct and siry inoerat in exe~st of th~ ma~cimurn a1bw~0 ~
by Isw and any nbit~s nquirad by 1sw, sh~N i~tMy or dwrqfta, st Mi option of th~ B~nk. ~xcpt that th~ oocwra~o~ of lt) or ld) sh~ll eaw~ sutamst•
K aoctfa.stion:witlwrt notio~ ad~m~nd, b~aonMdu~ and psy~bf~: (d tM fsilun of airy Oblgor to Pafwm s~ oblgatiort, lisbility or Wim co dN Bank. to pa1?
incerat hKwn within 10dsys aft~ it is dw. or if tMr~ it no. dw dst~, sfter it is bi1Nd or otfi~rvws~ nqu~st~d or dan~nded. o? to pay any oM~r liability wh~t-
~ so~ver to tl+~ Bank wMn duf: (b) the dqth of any ind'+vidusl Oblipor, tM ditsolution of snY P~?tn~rshiP Obligor ot tht dissolution. rrwy~e?or oonsolid~tion with-
out the 8a~k's prio? w?itt~t tanwnt of sny e.wpona Oblipor, (C) tht filinp of a p~tition in bsnk~uptcy ar iht sdjudiatian of iiqoh~ney or bsnkruptC? und~r
% any repry~niiation, ~r?M~y~tnent. ~MOIusMrnt of dlbt. distolution, liquidsti0n O? fimilar prOO~~diny undK sny Fed~rd or f41q ststute, by Or s~itat anl/
~ Obtigor: (d) ~n appliqtion for th~ appoi~tm~nt of s r~otive? tpr, or tM m~kirg Of s 9sn~rsl s~tipnm~nt for th~ berriit of Cr~ditors by, snY Ob~gor: tM Mtry
~ af IudOrr~~t s~inst ~~11 Ob~ipor (f) th~ i~uing pf sny stq~tn~nt or q~rmfhrrNnt, or tM filing oi sny li~n, sgsi~st sny paperty of s~y Oblgpr:191 tM takinp of
p o~oe of any wbsancisl P+rc of tM Pro0atll of ~ Obligo~ n d~t i~stane~ of anY yov~rmnentsl wthaity: (h) th~ d~arminacion by tM Bank tl~tt s mstni-
~ sl adv~rs~ d~~q~ Iq~ petu~ryd in th~ finsneql oa~dition pi sny Op1gp~ from M~ tonditiorq stt ipth in tht most rec~eft firw~cisl spcenftnt of weA Obliyor
~ h~retofo~t turniftMd to tf~ Bank, w frqn th~ eonditian of weh Obli~or s~ hKttofort most nesntly d'ado~sd to tht Bank, or thst any w~nsnty, npra~ntstion, '
~ cer~ificm a satur~t of sny Obliga (wMthw aonbimd in this Nou or nod PKtsinirq to or in ca?nsccion with this Noa or th~ loan ~videnoW by Ma Note
~ concai~a sn untrw stat~nt of msqri~l iset or pnitf to stsq maUrisi fset ~ry in orde~ to makt tht stateetNnts rtud~ npt mi~lpdinp: a, (il tM sssiqn- s
ment by any Mslcer of any equity in sny of tM Collst~?~I witbout th~ prior written oorq~nt of ths 8s~k.
TM Bsnk ~hall hw~, but d~sll not b~ iimitM co. tfN tollowinp rgAp. pch of which msy b~ ex~rcis~d st sny tin~ wMtAar or not this Noa a dw: li) to
P~e~ a~+~M tAi! NOtt snd tM Co14U?i) and ih! BMllt fhill tfl~ryypplf bf rtli~~r~d oi sll duties ~nd r~wnsibiliti~s h~reurKf~r and rNi~wd hom ,iny and all
lisbility with rpp~et to any Coll~teral sp pbdyrd or eranttened. and any pbdyN o~ tr~nsferw shall for dl purposes stand in d~e plsq of tM Bsnk h~r~wider snd
hav~ all tM riqhts af tM Bsnk h~nunder: lii) to trs~fu tNt wlwN a iny pirt ot tM Co1lstKal into ths nsrt» of itself or its ramina~:liii) to wa tM CollsterM; ~
fivl to notify th~ Oblipon of any Colbt~?sl to nwb p~yment eo the BaMc of srhr smouna dw o~ to b~eomt dut thenon; (v) to d~msnd, w~ far, oolbct, or ~
msk~ ~nY canpomi~ or ~rttM~rNnt it d~nr dairabN w+tf~ ~f~nr~p to tM ColtstKS1: snd lvi) to tak~ Paaession or conuol oi snv Proa~ds ot CollattrN. '
NOTICE: SEE OTHER SIOE FOR 1MPORTANT INFORMATION g~Q~( z? PAC~ 1O~
FBS I52 R~v. 7/77 .
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