HomeMy WebLinkAbout0506 INSTALLMENT PROMISSORI/a NOTE '
~ R
Fisst National Bank of Fort Pierce ~N t~500.00 •
6ANK NAME (B) PrMNUnI t0~ G~dit 6T ~ SO
ui•~a~aii~ i~. s
Post Oiff ice Box 970, Fort Pierce. Plorida ~c? o«~,~+~,ry s~.~ s~ -
OFFICE ACORE55 (p) OthN CMtpq (itM~iZ~) = OQe
~ = one
NOTE NO. DATED: Stpt!'ld~!'r 26~ , 19.~, (F) = OQC
- fGl Amouet Fin~m.yd s•~a••ZS
~uE: October S. ,19 81 e, c, o. E. F~ s3
~ ~H~ i~a.~.c s 866.67
PLACE: g0lt Piesce , FI.ORIQA G~dit InMatip~tia+ s 25 .
an.. s None
For vNw r~t~iv~d. th! Yf~dK~iQ1Md (h!?NMftK plMd "Makl~"1 lointly snd itv~tNly (N (K) s None
~.,o~e tn~n one) v~omat to wv to th~ ordK or tM Ba+1c, ~t its o+tia ~isc~d sbow, tn• Tonl None
o+ P,v~,r~a ~+.om IN? n~~?t~ ot ;4.465 . 92 Do~~us wv~bN in W t
~~s~ ~,~nw oi s 93 , t~ r;~ IMI FINANCE CMAROE 891.67
~H, K. a
instellmtot dut On I~lovember Jr ~ , 19~. ~nd wbpquent iranllmena dus on (N) TotN oi P~ynrnts ((i + M3 4 •
cne d~y ot esch month thK~sftK, top~tl~ with ~ FINAI BALLOON PAYMENT OF~' ANNUAL PERCENTAGE RATE li • %
S None pue Non . ~s
Th~ 8snk sh~tl impos~ s dtlinqwney ch~rp~ apsi~ut tM dbkK on sn'Y PsYmMt which hat b~oomt dw Mx! ntn~i~ in d~twlt for ~ p~riod i~ ~xo~it oi ~O
aavs in ~n anwu~t puN to 5% ot the anaunt ot the principal psrt ot th~ p~ymtnt in d~iwlt. In iM eMnt Mst tM Nou is ~ot psid in tull ~t maturity, sll p~1?-•.
ments, wMthN principsl, interat o~ otherwise, ~hsll bwr interost ~t tM rtlsximum hyN at~ allovwd unde~ tM law~ of tM Sats ot F{orids. All psymK+ts mad~
hereundK Mall b~ uad~ted first to intK~st and th~n to Wineipsl. how~~r. in tM went of d~fault, tM 8~+k mh?. in ia sol~ difchtion, apply ~ny payment to
~nterest, pincipN snd/w I~rful chsroes tMn ~ued. It q tM inantion of the psrti~s hereto th~t th~ provisioes h~reio ~hall not p~ovidt dinctly or indinetly
~o+ ~he psyment of a qrist~r wtt of inttr~st or the rct~ntion oi sny otMr cAsr~ thm is slbwed by bw. If, for sny rqson, i~te~est in ucpss of wch lepst raH or
a charye prohibited by Isw th~ll ~t ~nY time b~ psid. s~Y suCh fxCKS shall eitMr Conftitut~ ind b! trNtld a~ a psymMt o~ the DrinCipN o? b~ ~tfuncled dKeCily
to the M~k~r.
The M~kK mty peWY the ~ntin unpaid b~lanC~ ot the loan st any time. Ii ihe losn is prsWid in tutl, socttersted or nfinsncyd, the Nbke~ sha11 nceiw s
retund of the un~n~d pwtion oi tMs intenst and inw~snc~e p?aniumc eon+puted bY the Rul~ of 78's method, exapt thst the 8snk shNl W ~ntitled to reai~
a minimufn intNpt thsr9e of
CREDIT LIFE AND CREOIT LIFE 8 ~ISABIIITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO FOR CREDIT. Such ir~surana cowag~ is
ava~lable at the oost d~sipnsttd below for the te~m ot the sdit: I~! tor G~dit te I~ursna Ib1 S NOQC
tr
tor Crtdit Lii! ~ Oaibility Insuranoe:(;redlt ~~e OIl ~ • ~r 6 m~n $
;,~,~k Gadit lite Inwru~ is desired oo the lif~ oi Rc~ctg er T Jen Q -
B- ,t~ 10-11-20
Box ? Gedit Life b Disabi~~ty Inwrance is desirW on
irihdate
D Crad~+ ute and/a o~~~~iv ~nw~snee ~s no~ des~.ed. / /
~~(jl/
Date: Si9nature
Signature
As secu~ity fo~ th~ psYment of the Note the Msker Aereby y~ants to the Bank s security interat in the tollowirg p~operty_
_ First_Mortta~¢e On Real Estate- Leeal descrietinn on reverse sid~ f th~. n~te
-
~I ~rxludioy sll iec~~sa, substitutiot?s, replsamtnts, sdditions snd ~oosttions thereto snd in the proceedt Menof (hertinstter qlled "Coll~teral'1. This s~cu~ity
~ ~nterat shill slsp s~tu?e any other i~~febtedness or liability oi the Maker to the Bank dirett Or indireCt, absolute or oontingent, due or to bltome dw, naiv ex-
i isung w Aersslt~r arisitg, indudirq dl future ~tlwnees a~ losns by che Bank to the Maker.
! The Bank is slso piven i lien and a security intaest in all property snd secu.ities ot t1~e Nl~cer, endorse~, wretY. puuamor or acwrtwnodstan psrty oi this
i Noce iherein~her refernd to ss the "Obligors"l, now in or at any time hereafter ooming into the control, custody or possession o1 the Bank, wlwtha for the ez-
f pres;ed purpos~ d beiny usad by the 8ank as Collateral, or tor any othe. purpose. and upor? sm/ balance or batsnoes to the aed'n oi any accounts, includirg
I irust snd ~qtrKy rocouncs msinuined withtMe Bank by sny oi the Obliyors, and the Obligors spree to delive~ to tMe Bsnk addi~ional Collstenl or make wch
I payments in reduttion of the printipsl amount of tM loan as sha11 be satisfsetory to the Bank, in the event tAe siorementio~ed Collstersl shall detline in wlue
~ or tretome uesatishCtory to th~ Bsnk.
~ Addicia~s to, reductions o. exchsn~es of, or wbstitutions fw the Coltateral, payments on ~ccou~t ot this Iwn or incresses oi the same, or other losns msde
parciatly or wholly upon the Collstersl, ms~r irom time to time be msde wiMout aHectiny the provisions oi this Note. The Bank shall exercise reasonable care in
cne custody and preservation of the Colbtersl to the extenc required by applicable scatute, and shs11 be deemed to have exercised ressonaWe are if it akes wch
act ~on for that purpom~ ~s Mtker shall reaso~sWy recnNSt in writirg, but no omission to do sM/ sCt not requested by Maker sha11 be deemed s isilure to exercis~
reasonsbl~ a~e, snd no ortwssion to comply with any request of Maker shslt of itsNi be deemed a failun to ezercise reasonable care. Bsnk shsll not be bound to
take any steps nec~ssry to preserve sny rights i~ the Collatersl syainst prior paniss snd Msker shall tske all necesssry steps for wch purposes. The Bank or ~ts
r.ominee ~aed not collect inicrcst On, o? ~ principsl Of, any Colbten{ Or yive sny notice with tespsct to it.
The Bank m~y continue to hold sny Collat~rd deposited hereunder atter the payment of this Note, if at the time of the payment and d'ad~arge Mereof any of
the partia liablt for the psyment hereoi shall b~ then directly o~ contitgently liabk to the Bank ss Maker, endorser, wrety, 9uarantor or sccotrwnodation party
ot any ot1~a note, drait, bill of exchsn9e,.or other instrument, or otbuwise, and tMe Bank may thereafter exercise ~II righa with respect to said Colletersl
grdnitd hl~Olf1 aren tha+yh tha Note shsll hsve been sunendered to tAe Maker.
ti tAe Bank dKms itself ins~cure w upon ihe happening oi sm? of the tollowin9 events, each ot which shall oonstitut~ s default, sll lisbilities of each Maker co
che Bank, inNudirg the entire unpaid printipal of this Note and scuued interest, tess any unearned i~terest and any interat in ezcess oi tM maximum sltowed
by law and any rebstes r~quired by Isw, shall irt~rtrodistely o? theresfter, at the option ot the Bank, except that the otcurrente o/ (c) w(d1 sl~sll cause sutomat-
~c acceleration; without notict o? demand, beeortie due and payaDle_ (a) the tailure o~ any Oblpor to petform any obligstion, liability or dsim to tAe Bank, to pay
~ncerest I~ercon within 70dsys ~fter it is due, o~ ii thert is no due date, siter it is bilkd or othcrwise requatod or demanded, or to pay any othe~ liabil~ty what-
~ so?ve. to ihe Bsnk whM dw; (bl the desth of any individusl Oblipw, the dissolutio~ oi any psttnership Obligor ot the dissolutio~, mergtr o~ cOnsolidation with- ~
cuc The Bsnk's aw~ written oonsent of any caporate Obtipa: (c) the filinp ot a peiition in bankruptcy or the adjudicstion of insolvency or bs~krup~cy under
any rewqanizatioe, arra~ement, readjustment oi debt, distolution, liquidatio~ a s~milar procceding u~der a~y Federsl w state ststute, by or against sny
Oht~gor; (d3 a~ ~pplicstion tor the ~ppointment of ~ rectiver fa, or the makiny ot a yeneral assiy~?ment for the benefit of ued~tas by, any Obligor; le) the entry
a{ judgment apainst sny ObliycN; (f) the issuirg oi any attathment or gsrnishment, or the tilinp o~ sny lien, apsinst any p?operty et any Obligw: (g) the taking of
possessio~ of sny wbsta~tisl part of the property of sny Obli~or at the instance of any governmc~tal wthwity; (h) the determi~atwn by the Bsnk that s rr?ateri-
al adverse chanpe has otturred i~ the finantial tondition ot any Obligor from the conditiw~s set iorih in tAe most ~ecent tinantial sutement of wch OWigor
heretofore furnished to the Bank, o~ trom the condition of such Obligor as heretofore most recently disdosed to the Bank, or that s~y wxranty, representstion,
cert~ficate or ststert~n?t of sny ODligw (whether contsined in this Note w not) pertaining io w in connection with ihis Note w the Iwn evidenced by tAis Mo~e
contains an unt~w ststement of materisl ts~t w omits to state msurisl fect necessary in order to mske the statements msde not misltsdinp: o~, (i) the assgn-
ment by sny Maker of sny equity in ~ny of the Cotlatenl without the p?ior w~itten consent ot tt+~ Bsnk.
The 8ank shall haMe, but shsll not be lim~ted to, th~ totlowiny rghu, esch of wfiich msy be ezercised at any time wh~iher or not thif Note is due_ li) to
o~edge w tnnsfe~ this Note snd the Collatasl and t1~e Bank shall thtrcupon be rel~eved of sll duties and raponsib~lities hereunder and rNieved i~om a~y and afl
I~ability with respeCt to a~ry Collsteral so ptedqed or tr~nsierred, any pledgae or transters~ shall tor s11 pu?poses stsnd in ~he place of the Bsnk hereundr a~d
have all the ri~hts ot the Bank hereunder; (~i) to transie~ tl~ whob o? u?y pu[ of the Collateral into tt~e nsme ot itselt or its nominee; (iii) to vote ihe Collatersl;
t~v) to notify the Obliyon o~ arry Co~later~l to mske payment to the Bsnk o1 any amounts dw or to become due thereon; (v) to denwnd, we tor, col~ect, w
make s~+y comp?omise w settltment it deems desir~ble with rete?ence to tht Collataal; and ~vil to take possession w control ot sny proc~edf ot Collatersl.
~ eo~2?~ ~ 5Q5
NOTICE: SEE OTHER SIDE FOR tMPORTANT INFORMATION
~ ~BS 752 Rev. 7/77 . , ~