HomeMy WebLinkAbout0515 INSTALLMENT PROMISSORY NOTE
,
~1 r • (Al Amount R~c~+wd s 5• 000• 0~
FIRST NATIONAL BANK OF FORT PIERCE .
i 6ANK NAME (8) Prtmium tpr G~d~t 57
, ~ ~ L~t~/Ois~bility Im. S_~a.~i,~~
~ Post Office Box 974 Fort Pierce. Florida ICI Docum.~u.v si.r.ws t l O~ 35
~ + . OFFICE AD~RE55 Q~ (~ra{ (ilM1i2~) t None
NOTE NO. ~4-28?0-9 Septe,ber 29, T7 ~E~ s None
DATEO~ .19 (p) : None
ouE: Se~,tember 25 ,~982 ~G~ i~
e c Fo,~~
i s 5. 268. 9~ ~
(H) ~~tKat s~,5~? 4~ •
o~ACE• Fort Piercg , FIpqIDA u~ a.a~~ i~~~g.~~w, s 2~, 00
u~ p,n.. = None
Fo~ ~?aiw ..cwred. ~n. u~ae.:~.d ~n..•~o.ea. au.d "M.kK•~) lointly ~nd avNalh? (if ~Kl s None
more than oMl D~omis~ t0 p~Y t0 tht wdM of tht BN~k. a~ ~u o~~~w ~~:ud abw~e, m• Toui None
ot Pavmena llrom INl s~ ripAtl of ~6. 8~ 40 po~lus wY~lt in _~,Q (L) S
a~uat monthly inst~litrw~ts Of s-1 1 d~ 7Q , the tirst ~M! FINANCE CHARGE j, fj 1$. 4$
lH, 1, J. K, L) :
mstallment dW On (~ctober 25 ,193Z. ~nd wbseownt insaUmena due on (N) ToW ot Payrtrnn (G + MI ~ S_E2~ ~R7_ 40
ine_~dsy ot aeh montn tMrWiter, top~th*r with s FINAL BAILOON PAYMENT OF: ANNUAL PERCENTAGE RATE Z 1- 09 x
s None ouE None ~ , ~9
7he Bu~k shMl impoa ~ dNinquency chary~ psmst tM Maka on u~y psymN+t which h~ beoon~ dw ~nd nrtiains i~ detault (or ~ pKiod in ~xcat o/ 10
days in ~n amw~nt equsl to SX of the ampunt of tM princ~psl psrt of tM WY~nt in defwlt. In tM went that tM Not~ is oot paid in full ~t m~tutity, all p~y-
ments, whtMer principsl, IIItpK! Of OIANwISQ, shalt besr i~tsnst at tM msximum Ipd r~t~ allow~d urW~r th~ lawt of the Stste oi Flo~id~. All psym~nts m~de
nereunder ~hsll b~ cradit~d tirtt m interest snd then to principsl, Aowever, i~ the event oi d~fault, th~ Bank rrwY. in iu sole d~sc?etion, spply sny payment to
~ncerest, princ~psl sed/w lawful cFyrges then ~cerwd. It is th~ ~nt~ntion of tht wrtias h~r~to thst tM provisions he~tin shsll not provide dirsctly o~ indiractly
T~~ ine psyms~t of ~~qter ?at~ of interast or the ntention of aMr other chsr9e th~n is ~Ibw~d by Isw. If. tor ~ny reason, inte?tst in exqss oi wch leysl ~~te o?
e cna.ge p?oAibiUd Oy Iwr shs11 at ~ny time be psid. u~Y sucA ~xpu shstl e~ther constitute ~nd be ue~ted ss s payment on ih~ priatipd a b~ r~fundod dincth
?o tne M~ku.
The Mskk msy pnpsy the encNe u~id balanw of ehe Ioan at s~nr tirt~e_ Ii the Iwn is pnpaid in fuN, ~ocele.at~d or retinsnced, the Msker shsll nceiv~ a
retund of the unprned portion ot the ~nttrest and insur~nt~ p«nniums tomputed by the Rule of 78's method, ~xapt th~t the Bsnk sAsll b~ entitled to ~euin
a minimuRl i11tKlft Chi?~ O~ S6,OO,
CREDIT LIFE AND CREOIT LIFE 8 DISABIIITY INSURANCE ARE Vp~UNTARY AND NOT REQUIRED FOR CREUIT_ Such inwnnCe covtry~ a
a~a~tab~e at tM tott designatad bt~orr tor tM t~rm of the uedit: I~i S 25H. ~J7 tw C?~dit Life Inwrsnce (b) S None
tor Credit Lite b Dissbility Inwrsnte:
Check ~ Gedit Lif~ Inwrance is desind on the life Ot Milton CavFs~ Jr. ` ~
Ann~. B~.ttx~ste 8 / 28 /32
Box ~J Credit Life & Oistbility Insuranee is desi~ed on
Binhdate
? G~dit lii~ ~nd/w Dissbility Inwr~ifoe is not desired. "
oate September, 1977 S~gnaiure
Signscuro
As security fw tht psyment of the Note the Msker Aereby grsnu to the Bank a security int~rest in tM idlowing property:
a ~
Make: TN&CY, Serial No. 50100 199
~nc;ud~rtg all inust~es, substitutions, replaeertients, additions snd aotestiOro the?eto and in the p?oteeds thereof (hereinafter dlled "CollatKal"1. This sawriry
~r.te+est shsll also s~wn any other indebtadness or li~bility of the Msker to the B~nk dirsct or indinet, absdute or conurgent, due or to b~com~ due, ~ow ex-
'~i ~sc~ng os heresfter aris~np, indudinysll futu.~ sdv~nces 8r Iwes by the Bank to Me Maker_
~ 7he Bu?k is Mso 9iv~n ~ li~ and s seturity int~rest in all property and saCUrities of the Msk~r, ~ndor~er, surety, gwrantor or sceomnwdstion party of this
I Noie (her~in~fter nierred to ss the "ObliQors"1, now in w at sny time herqfter comi~g into the control, custody or possession of Me Bsnk, whetl?er tw tAe ~x-
~ P~essed purpost ot beinp ussd by the Bu~k as Collateral. w for anY other purpose. ~nd upon ~rry balante or balsncet to the uedit oi s~y aoCOUnts, includinp
! crusc arxf apency aecouots meintained withthe Bsnk by smr ot the Obligort, snd the Oblipors sgres to deliver to the Bank sdditional Collatersl or make wcF~
~ c~avmenn in reduction oi the printipal amount of ths losn as sF~all be satitisctory to t1~t Ba~k, in tMe event the aiwementioned Collateral shsll dctline in value
o~ becorrw u~atisfsttory to tht Bank. '
Addiiions io, r~ductions w exchs~pes oi, or wbstitutio~s for the Co1l~teral, payments on ~ccount ot this losn or incresses of rhe same, w other loans made
~ partia?ly w wholly upon the Collatenl, msy irom time to time be msde without sfteetiny the provisions of ~his Note. The Bank shall exercise re~sonable care in
t he custody a~d premqtwn ot the Cotbteral to Me eztent required by applicabte statute, and shall be deemed to hsve exercised ~easonable care if it iakes wch
act~on for that purpose ss Maker shall reasonsWy r~quat in writinq, but no omission to do sr?y aet not ?equested by Maker shall be deemed s failuro to exercise
re~sonable c~e, snd no aniuio~ to tomply with sm/ request oi Maker shall oi itsNf be deemed s fsilure to ex~rcis~ rtssonable pre. Bank shsll not be bou~d to
~aKe any steps necesssry to preserve any r'~gl?ts in the Collateral against prior parties and Mskr shsll take sll necessary steps tor wch purposes. The Ba~k or its
~,orninee r~eed not toltect interest on, or a Pri~cipsl of. any Cotlatsrsl or ~ve sny notiCe with resp~Ct to it
The Bsnk msy contimu to hold sny Collateral deposited hereunde~ atter the psyrr~t of this Note, ii at tMe time of the payment and disd~arge hereof any oi
tne parties liable fw the psyment hereof shell be then directty or oo~tingentty liable to the Bank as Maker, endorser, wrety, guaranto. or accommodation parhr
of any other note, draft, Dill ot exthsnye, or othp instrument, o? otherwist, and the Bank may theroafter exerCise all rights wilh respett to said Collate~al
amed hercin evee tbagh Mis Note shall have been wrrendered to the Ntsker.
If the Bank d~ems itsNt insecure w upon the happening of any of the tollowing events, esc1~ of which shall tonstitute a default, all liabilities o~ exh Maker to
~he gank, includi~g tAe entirt u~sid printipal of this Note snd act..uld interat, less enY uoesrned interest and eny interest in exuss of the msximum allowed
~,y law and any rebata required by law, sAatl imrt~ed;atdy w theresfter, at the option o~ the Bank, except ihst the occurrence of (c) or (d) shsll csuse aucomat-
~ ac ~Neration;without notioe or demand, becomedue and payable: (a) tM tailure of any ODligor to perio?m aMr oblipstion, liability o. claim to the Bank, to pay
~:re~est hereon within 10days after it is due, or if thae is no due date, sfte? it is billed o~ othervvise requened or demanded, a ~o pay any other liability what• -
~ z ~e.rr to the Bsnk whe~ due: tb) the death of any individuil Obligor, the dissolution of sny partnership Obliqor or tt~e dissolution, merger w oot~solidation with-
ut the $ank's p~ior writtcn cortsent ot any torporate Obli~w; (c) the tiling of a petition in bankruptry or the sdjudication of insolvency ot bsnkruptcy under
~~y ~eo.ganizstion, srrsngement, readjustment ot debt, diuolution, liquidation w similar p~otelding under any Fedenl or state statute, by or against any
-~~~~gor; (dl sn applicatia+ tor th~ appointment of a receiver fo~, w the makiny of a yenersl assynment for the be~efi~ oi creditors by, any Obliyor; (e) tM entry
~;ud9ment asainst aay Obligor; (fl the ~swing of sny sttschment w 9arnishment, or the filirg oi sny lien, apainst sny propert~ ot any OWigor;19) the taking of
.osseszion oi any subslsnlisl part o~ the prOperty of sny Obligor at the instant! ot any gOVernmenta~ authority: lh) the deurminst~on by the Bank that s materi-
a~tve~se chsnge has oecurred in the tinancial condition oi any Obligor from the tonditions set fortA in the most recent finanual statement oi wch Obligor
e~eiotore f~rnished to tAe Bank, a lrom the condition of wch Optigor as heretofore most reoently disdosed to the 8ank, or thst any wu~anty, representation,
~-r~f~cate or statement of a~y Obligor (whether comained in this Note w not) pataining to or in tonnettion with this NOte or tAe loan evidenced by this Note
~~;a~rx an untrue statement o~ material isct w omits to state material isct neceusry in orde~ to make ihe stater»e~ts made not misleadirg: a, (i) the 2ssign-
-:eni by any Make~ of sny equity in any oi the Collaterol without the prior written consent oi the Bank.
The Ba~k shalt hsv~, but shslt not be lim~ted to, Yne (ollowing rights, exh oi which may be exercised at a~y time whether w not this Nou is due: (i) to
'edge w transier this Note and tFie Collsteral and fhe Bank shall thereupon be relieved of sll dutia a~d responsibilities hereurx/er and relieved from any a~d all
ab~!ity with respect to ~ny Collatersl so ptedyed or transterred, and sny pledgee or trsnsieree shall tor stl purposes stand in the ptace ot the Bank hereunder and
ave all the ~i~ts oi the Bank hereundp; (ii) to tnnsier the wholt or any pan oi the Col{~ttral into tht name of itieli or its nominee; (iii) to vote the CoNateral;
~1 to notify the Obligcus of sny Cot~atenl to make psyment to Me Bank of any smou++ts du~ or to become due thereon; (v) to demand, we ~w, toltect, w
ti;xe a~y compromise ot settkment it detms desirsble with ref~renet to th~ Collsteral; snd (vi1 to take posseuio~ or control of sny prooeeds of Collatersl.
NOTICE: SEE OTHER SIpE FOH IMPORTANT 1NFORMATION
B$ 7SZ RlN. 7~77
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