HomeMy WebLinkAbout0520 ~ .~.,~c~~r~r
iNSTALLMENT PROMISSORY NOTE
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f FLRST NATIONAL BANK OF FORT P~RCE ~a R~~~ s 4• 8?5, 00
BANK NAME (8) P~~fnium (pr Crbii '
. uaia~~~~? i~. = 252. 14
_ Post Office Box 970 Fort Pierce. ~~*;~a Ic~ oocun,.nurr san~ s 10. 20
OFFICE ADORESS IO) OthM CAupq lit~mitd =~4rie
1~1 :_.lYone
hoTE NO. oATED: Se~em6er 21 , te.~, IFI = None
ouE: _ September 25 ,19 82 , iA
s c
Fo,
e~
i t 5. 137. 34
~H~ i~,.~.~ = L 553. ~b
r~ACe: Fort Pierce , FLORIDA ~~1 a.a~t im~a:g.tion s 25. 00
ut an.. s 1~Ione
Fo• ~w ..~«wyF ~n~ cn..•~~„r~K uiad ~M.k.+••I lointly and tw~nlly (if ~K~ s None
more than on~) pomue to palr to tht ordK of tAe B~nk, si ~ts oftip listed ~bov~, d?~ ToW s None
o? Pav~a It.wn IN) st .pntl ot,~b. 715. 80 po~tus v~ysDk ~n
equat monthly inst~tlm~nK of S 111. 93 . IM) FINANCE CHARGE 578. 46
(H, 1, J, K. L) : ~
~nstolltnent due oe ~GtAt]e2' 2~ , ~93~, any wps~qw~tt ~nst~l~rt~nt~ ~kN pn (N) ToUI of Payrt»nit (G + M) s 6, 715. g~
tne Z~dsy ot wch month thtr~sitK, io~tha wiM ~ FINA~ BA~LOON PwYMENT OF: ANNUAL PERCENTAGE RATE 11. O9 x
S None ouE-_ None ,tg
The 8snk shall impost s dtiinqu~ncy dwp~ a~irot th~ INiker on any p~Yrr»nt whiM hp b~oorn~ du~ ~nd nrtri~ in defwtt tor a p~riod ie ~xpst of 10
davs in an ~mount ~qwt to 5% of the ~mount of tNt pineipN psrt of the psyn~mi io d~tault. In the wN?t that tM Nou is not paid in full ~t m~turity, atl p~y
'T'~e~'!s. wheth~. vr~ncipN. ~aanst w otherwise. sA~ll bw int~st ~t the maximum Ipsl r~tt ~Ilow~d u~ tM laws ot Me Stste of Florid~. All P+f~~a rm~dt
~e~-under sh~11 be cndiiW fint ~o intenst snd ch~n co principal, howwK, in th~ ~wnt of d~f~ult. the Bu~k may, in ia sok dixrei~on, apply ~iy p~ym~nt to
~nTa~as~, priocipsl snd/a I~wiul ch~r9es tNee soeru~d. It is tM int~ntion of tM parti~s her~to that th~ provisions 1~?ein shall npt provid~ dinttly p indirectly
tc- ~e paym~nt ot s~pter nte oi int~nst w the nt~ntion of ~ny othK chsrge than is ~Ibwad by 4w. IE, iw ~ny resson, imanst in ezcess of sueb lepN nt~ w
a cna~ge prehib;ad Dy law sh~ll at ~ny tirt~ b~ paid. ~ny sueh ~xo~ss shall ~ither consiitua and be tnat~}.as s p~ym~nt on the principN w be nfunded direttly
to the MakK.
T"t~e M~ker mry prepsy th~ ~ntin unpaid bslsnce of the lo~n at any time. If the lom it pnp~id in full, sooelerated w retins~qd, tha Msker shsll nceiw a
•et.,,:d of t1~e unsu~ed pon;on oi che inte~es~ ~nd inwrance premiums conpund by th~ Rule of 78's m~chod. ~xapt th~t cM Baok sAall b~ entitled to retain
a m~rumum interat thsrpe ot ,~5.00,
~'REDIT LIFE AND CREDIT LIFE ~ DISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIREO FOR CREDIT. Such iiuursnq cowrag~ is ~
av3;! ~ble at the eost dagn~tad b~~ow tw the mm of tir v~dit: 1~ i 252. 14 tor G~dit life Inwnnc~ ibl S Nnn p
'or Credit liff dt OitabiGty Int~JranCe:
cn~~_k 1~ c..d~tu~ei~w~s~wK~~edo~~h.i~r.of Robert O. Ba.rrows~ ~ ` -
AD~~. eKtnd,~e_ 10~19/30
2c< ? Credit Life d, pisability Ituuranoe is dtsired pn _
, Birthdste
? Gedit lite ~nd/or Dissbitity InufFanoe is not desired. '
!3a-~ Se~ltembnr ~,1~ 1 c~77 S;gnature - ~ • Q~C~e/~r*~~L
Sign~ture
s seturity Tor the psyrn~nt ot the Note tht M~ker hereby pr~ntt to tAe 8snk s security interest in the following properry:
UNSECURED with Second Mort~a~e as additional coLtP~~
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~nc~ud~ny ell ~ncrqses, wbstitutiw~s. nplscements, ~dditioos aed socessiont thereto snd in the prooeeds thereo( (here~oafter ulled °Collateral"1. This seeurity
~ n~ :•=•st shall slso s~ture sny Other indebtedness or liability of tIN MYker to the Bank dinCt or indirett, sbsolute or coniinpent, due w to become due, now ex-
; :sc, ur herqfqr Kisinp, indudinp ~II tuture sdvances pr Ips~ by the Baek to tM Maker.
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Bs~k is dto given ~ lien ~nd s security inte.lst in ~II praperty snd securities oi tM Mske?, endorser, wrtty. pusrsntor or scearunodation puty of this
!nerein~ftar referred to as tM "Obli9ws"), now in or st any time hareafter comin9 into the contrd, oustody or potsession of the Ba~k, whether tor the ex-
E P~?POSe oi beirg used by the Bank as CollaterN. ot for ury other purpose, and ~pon any bslance or bslsnces to the aedit ot ~ny aocounn, including
~ c"~~> ~ and sgency accounts msintained with the Bank by any oi tbe Obligors, snd the Obligors ipree to deliver to the Ba+~k addiiional Collatersl or make wch
p~yr,~>_nts in nduction of the principsl amount oi the loan at shsll be s~tisf~ctory to the Bank, in the e~rent the ~forern~ntionsd Collatersl shsll decline in vslue
t re
~ c~ be~.o~ne unsatisfaetory to the Bahk. ~
:-~iditions to, r~ductions or exchsnyes of, or substitutian tor the Collsteral, p~ymenu on accwrnt of this Iwn a increases ot the same, w other losns msde
part~aily or wholly ~ppn the Collaterat. msy trom time to time be made witF~out stfectinp the provisiont oi this Note. The Bsnkshall exercise ressonable ca?e in
~he c~,s~ody snd presKVation of tf~e Collsieral to the extent required by rppliuble statuce, and sAall be d~ert~ed to Aave exertised rtssonabk qre if it takes wCh
a=~. for thst purpose ss Nyker shall ~easonably requat in writing, but no omiuion to do any aet not requested by Mske~ sf~sll be deemed ~ isilum to exacis~
easor~abte are, and no omiuion to compty with sny nqwst of Makar sh~11 of itscli be deemed a failure to exercise reasonabk care. Bank thsll not be bound to
= e~ny steps necesssry to preserve sny ~i9hu in the Collateral spainst prior psrt:es and Msker shall uke all neceuary steps tor such purposes. The Bank w its
r:om~nee nee~l not oollect interest on, or a principsl of, any Collstersl or yive ~oy notice with respsct to it. .
T!:e Bank may continue to hold amr Cotlatenl deposited I~ereunder afttr the payment oi this Note, ii at the time oi the p~yment and dad~arpe hereof any of
~he p~~iies Iiable fa the psyment he.eot shatl be chen directty p contingently tiable to the Bank ss Maker, e~dorser, wrety.9uars~tor or sccommodation pa?ty
~f a~~y oitMr note, draft, b~ll of ezd~anpe, w otFier insuument, w othe*wise, a~xi the Bank msy thereaher exercise atl righu with respcct to said Collateral
5•ant=d herein even thougfi this Note shstl have bec~~ sunendered to tM Maksr.
i' :ha Ban~ deems itselt insecure or upon tt~e happ~ni~g oi am? of the following events, each of which shall constitute a default, atl liabilities of each Maker to
:a f~~nk, intludinp the entire unp,iid p~intipal of this Note snd sccrued interat, less arry uneuned inu~est and any interest in excess of the m~ximum allpwed
c:; i~w and any rebstes required by Isw, shslt immsdistNy w tl+ereafu?, at the option oi thc Bank, ezcept that the occurrence ot (c) a(d) d?all cause automat-
~ a:c~#eration;without notice ordemand, becort~edue ~nd paysble: (a) tha faiture oi any Obligor to perform any oblisation, liability w dsim to the Bank, to pay
+~~?re:r hereon within l~days aftet it is due, or ii thpe is np due dste, sfter it if blled w otherwise rlquKted or demsnded, or to psy any oth!? liability what- .
~a ~o the Ssok wAen due; Ib) the death ot sny individual Obtgor, the diuolution oi any partner~hip Obliyor or the diuolution, merysr or consolid~tion w;tM
c;t t he gank's prior va~tteo consent oi u~y corporate Oblgw; (e) the fifing of s petition in bankruptcy w tlx adjudication of insolventy or bankruptty under
~~v ~ eorganization, srnngement, readjustment of debt, di~plution, liquidation or similsr prpteeding under any Federal or state statute, by Or agsinst sny
G~i;:~or; (d) ao application tor tM ~poiniment of a recrivar for, or the makinq oi s ye~eral sssynment for the benefit of ueditas by, any Obligor; (e) the entry
iu~tyment apsinst any Oblipw; (t) the iswing of any sttachment w q~rnishment, w the tiliny of arry tien, spa;nst ~ny propaty of any Obligor; (g! the taking ot
,.o:c^~.sion of any substant~tl part of the property ot aM? Oblipor st th! iiKtant! of any ppvtrnmenql suthwity; (h) tMe determination by tfie Bank ihat a mater'r
a: .~!;erse chsn9e has occurred in the tinantiat conditio~ ot arry Obligor from the conditions set forth in the most retent tinsncial staument oi wch Oblipor
sore furnished to the Bank, or irom the condition ot wch Qbligw s~ he~etotore most recently disdosed to the Bank, or thst any warnnty, ~epresmution,
ce~t~f;~ate o~ st~teme~t ot any Obligor (whether contained in this Note or not) pertaining to or in connection with this Note w ibe loan eridenced by this Note
c~nra~ns an untru! ststement of material tact ot omitt to stste miterisl faCt netetssry in order to mske the sWtements made not misltadirg; pr, (i) the ass~gn-
menr by any Maker of arry equity in ar~y o~ the Collateral without [Me priw written consent of the Bank.
Tne Bsnk shall hav~, but shsll not be limiled to, the followirg rqhts, each of which may be exereised st any time whether o. not this Note is due: lii to
p~ed9e or trs~+sfp tfiif Note and the Collatenl and the Bsnk shall tAereupon bt relieved ot sll dutia snd retppnsibilities hereunder and r~li~ved from any snd all
i:~t, ~!y with respeet to any Colbteral so pledg~d a trsrKtpred, snd anY Pkdpee o? transteree shall for ~II purposet s+snd in tAe place of the Bsnk htreunder u?d
have all th~ riyhts ot th~ B~nk hereu~der; (;i? to transter the wfwk or any part of the Coltateral into the nsme of itselt w its nominee; (iii) ~o wte the Collateral;
f,v) to notify the Obliyors of sny Collatenl to mak~ psymcet to th~ Bank oi any smounts due or to become due thereon; (v) to demsnd, we fo?. colteci, or ~
ruke any Compromis! p settlement it deerm desirable with reterence to the Collscersl; and (vi) to take possession or control oi any proceeds oi Collateral.
NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION d~~~ ~+E 519
F95 752 a~~. ~n~ .
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