The URL can be used to link to this page

Home My WebLink About0172 ' INSTALLMENT PROMISSORY NOTE ~ . IA1 Amount Rece~red S 1 OOO OO E FIRST NATIONAL BANK OFFORT PIERCE 120 mos. on 9ANK NAtNE I8) Prem~um tor Credit ~ • - ~~~ero~~n~~,~„ s 1, 500, 00 Post Off~ce Box 970 Fort Pierce, Florida tc~ o«~~~~e~Y s~artws s 32_ 25 ~ OFFICE AOOHE55 (01 O~h~~ Charyrs litemue) S none ~E~ S none Nore rvo. ~ATEO: November 30 , ~g , ~F) S non~ IGI Amount Financed ]3, 532, 25 ouE. December 5 , i987 , ~A, s, c. o. E, F~ s 1?~1 ~nte?e:t S 7F901 _ 15 P~ACE- Fort Pierce , FLORIDA c.ed~~ i~~.:t~~~~o~ s 25_ 00 1~1 Other S none Fo•. value .ecaved, tAe u.+~irrs+g~xd iherc~aattN ca~kd '_1~1akN") jo~ntly and severally (i( (K) S none mor~ than ene? p~om~se to pry to the wdsr of the Bank, at its o~tKe hsced above, the Total s none of Paymenn ((rom (N) st ~~ghil of ~21 ~ 458_ 40 pona~s payabte in 120 ecauat monih~y instsliments of S 178_ 82 , the tirst ~MI FINANCE CHARGE tH, i. K. s 7, 926. 15 ~nscallment due on Jan. 5 , 19?8 , s~d wbsequent instal~ments due on (N) Totat of Payments (G ~ M) S 21. 458. 4~ tne S da~ ot eacA m~xuh ihereafte~, ~o9e~t+e. w~~h a F~kAL eAL~00N vAYMeNT OF: ANNUAL PERCENTAGE RATE 1 O. OO % S None puE None , ~9 The Bank shall impose s de~~nqutncy charge agai++st the Maker on sny payment which has become due and remains ~n defautt for a period in exceu ot 10 days ~n an amou~t equat to 57L of tAe amou~t o( the principal part of the paYrt+enc in default. In the event that the No~e is not paid in full at maturity, all pay- men~s, whethe. p..nupaf, :ote.est or otherw~se, shall bear interesc at th~ maximum legal rate allowed under ihe laws ot the State ot Florida. All payments macfe nereunder sha11 be c~edited firs~ to interest and then to p~inc+pal, however, in tAe event oi defautt, the Bank may, in its sote diuretion, appty a~y payment to ~nterest, priot~pal and/or lawful thatges then aoc.ued. 1! is Me incMtion ot the panies heroto that ttro prpvisions herein slwll not provide direcdy or indiretUy fo~ che payment of a greacer rate of interest or the retent~on of any other charge than is allowed by law. If, for any reason, intcrest in excess of wch lagst nte or a charge proh~bited by taw sha~~ ai any time be Wid, any wch excess shall eicher constitute a~d be trtated as a payment on the pri~cipat w bs refunded direetly co [he Maker. ~ TI?e Msker may prepay the ent~re unpaid balance of the loan at any tirm. If che loan is p.epaid in full, accelerated or .efinanced, the Maker shall receive a re~und of the u+~ea?ned po.[w!ncof cAe ~eteres~ and inwrance p.emiums computed by the Ru1e of 78's method, except that the Bank shall be enti[I~d to reWin d mmirtNlF~1 mtl~6St ChF9Q Of ~ CREOIT IIFE AND CREOIT IIFE d~ DtSABtLITY INSURANCE ARE VOLUNTARY AN~ NOT REQUIHEU FOR CREDIT. SucA inw?ante covenge is ava~iable st tF+e cost designat=d belo+v for the cam of the uedit: la1 S1~500_ 00 for Credit Lite Inwrance (b) S None tor Credit life 8 O~sab~lity I~auaanoe: Check ~ G~dit4felnwranctisdes~redonthtlifeof L+Ol11S Richard Hanes ~ qpp~, _ Birthdate 10/ 17/33 Bo,c ? Ged~t life ~ Ouab~hty losu~ance ~s des~red on Birthdate ~ Gedit Life and/a Disability Inwra~rx ~s not desued_ l, ~ate: November 30. - 19?? S~gnature~ ~-~-w- n~~ ~ Sig~atwe As securiry (o. che parment of the Noee the Maker he~ebY gran[s eo.the Bank a security mterest in ~he foltowmg p.opercy: ~ i FIRST iViORTGAGE• see over for escription ~ ~nclud~rg a~~ ~acreases, subst~tutwos, repiacemenn, addihorn a~d access~ons [hereto and ~n [he proceeds thereoF (hereinafter caUed "Coilateral"1. This security ~nSer~St Shall a1Sp SlCU~! irty Othtr ~ndebtedness w i~ab~6ry of ihe Maker to the Bank d~rett or ind~rect, absolute or cantingent, due or to become uue, now ex- ~sc~ng w I+e.eaher aris~rg, ~nctud~rg af1 future advances or loans by the 8a~k to the Maker. ' The Ba~k is also give~ a I~en and a seturiry mterest in all property ~nd securities of the Maker, endorser, wrety, guarantor or accommodation party of this Noee (he.e~nafter referred to as rhe "'Ob~igws'1, i+ow w at any t~me haeaFter coming into the rnnerol, cuscodY or possess~on of the Bank, whethe. for the ex- pressed p~rppse of be~ng used by"1re Ba~k as Collateral, or for any other purpose, and upon any balance or baiances to the creoh of any accounts, mcl~ding :rust and agtrKy attou~u ma~~tart~ed nnththe Bank by any of tix Obligors, and [he Ob~aon agree to deliver to ~he Bank additional Collateral or make such paymena in r~ducUOn of the p~~napa~ amount of the Ioan as shall be sausf~twy co the Bank, i~ the eveni the aforemenuoned Col~aceral sha11 deNine m value or b[C0f~1! uM~tK(aCtO/V t0 tt~! ~(tk. ~ ~ ~ Add~~ions to, reductions w e:changes of, or wbsututwns for the Co~laterai; paymenn on account of Mis toan or inueases of rhe same, or other ioans made pare~alty w whoHy upon H+e Col~aceral, may from ame to t~me be made w~thout affec[ing the prov~sions of this Note. The 8ank shall exe~c~se reaso~able care in che custody and preservauon of the Collaceral to Me excent requ~red by appl~cable scatute, a~d shall be deemed ~o have exuc~sed reasonabte care if it takes such a~:io~ fw ~hac pu.pose as 1~aker shatl reasonably request in w.~ung, but no om~ssion to do amr act not requested by hlaker shall be deemed a failure to exe?cis~ reasonable care, and no ortnss~on to comply rv~th anY request of Make~ shall of itself be deemed a fadure to exeruse reasonable care. Bank shall not be bound to take a~y steps necessary to prese.ve anY rgnts m d+e Collateral aga~nst prior part~es and Maker shall take all necessary steps for such purposes. The Ba~k or its nominee need not cdlect ~nterest on, or a pr~nc~pal of, any Co~lateral or g~ve any noc~ce wich raspect to ~t. The 8ank mr~ concinue co hotd any Collateral deposited he*eunuer afcer che payme~t of th~s Note, ~f at the time of the paymen[ a~d discharge hereof any oi the parues liable fo. 2he paymen~ hereof shatl be [hen directM w cont~ngencly liable to the Bank as Maker, endorser, surety, guarantor or accommoda2io~ party of a~y oil~er note, d?aft, b~tl of exchange, or oMer ~nstrument, o. otherwise, and the Bank may thereafter exe~ase all r~ghts with ~espect to said Cellate.at gra~[ed here~n ere~ [hwgh ih~s Note shalt have been wrrendered to tAe Maker. If the Ba~k deertu itself ~nse~cure w upon the haoD~ni~g of amr of ti+e following rvents, each of which shall constituu a detault, a11 ~iabilicies of each Maker to the Bank, inctud~ng d~e entue unpa~d pnoupal of this No~e and xcrued interest, leu ariy uneamed mterest and any ~nterest ~n excess of the maximum allowed ~ by law and any reba[es reqw.ed Dy larr, shall imrnediatNy or thereafte?, at the op~an o~ tAe Bank, except [hat [he occurrenr.e oi pr (dl shall cause automat- K acceleratron;v~nthout noi~ce wdemand, ~ecomedue and payable- (al [he fa~lure of any Obligor ro perform any oW~gac~o~, liabili[y o. claim to the Bank, co pay ~ ~nurest herew~ nnthin lOdays atter it is due, or if tAere ~s no due dsce, at[er It is Wlled or othervvise requated or demanded, or to pay any other t~ab~lity what- ~ soever to the 6ank ~f?en due: ib! d+e deaM of anp i~d~vdual Obligor, the d~uoluuon of any partnership Obligor o~ the d~ssoluuon, merger w consolidaTion w~tA- ouc cht Bank's pwr w~~tte~ conscnc of arry corporate Obligw; (c) Me fil;ng of a petiUOn in bankruptey o? the adjudicauon of inwlvency or bankruptcy ur~ ~ any reqganizatiOn, a~rangert~ent, read~usttnen[ of debt, dissduuoo, 1iqu~datiOn o? similar p.oceeding under any Federal or state statuse, by or agamst any - Obiigor; (d) a~ application fa the appantmenc of a recerve~ for, d the mak~ng of a general auignment tor the benefit of creditws by, any Obligor; (e) the entry of ~ud9rtrcnt aga~~st any Oblgw; che issu~ng ot any attachmtnt or garnishment, or the f~ling of any lien, agamst any p~operty of any Obligor; (g) the taking of possession of any subs[annal ps.t of che pope.cy of a~y Obligor at the instance of any gove~nmen[al author~ty; (h) the dece~m~nacion by the Bank tAat a maten- a1 adverse tJwnge hat otturced ~n the finantial Conditioa of any Oblgot from the cond~tions set torth in the most rece~t financisl stacerM~t of such Ob~igOr ~ heretofo.e fu?n~shed to the Ba~k, or from che conditron of wch Obligor as he?etofore most rece~tty disclosed to [he Bank, or that any war~a~ty, represencat~on, ~ ce.t~tiwtt or statement of any Oblgw (whether tontained in this Note w notl pertain~ng to w in conrteetio~ with this Note or the loan evidenced by this Note ` conca~os an untrue statemeot of materul faci o~ ortya to state matenai fatt netessary in order to make the statements made not mfsleading; p, (i) the au~gn- ' . ment by any Make* of any eqwcy in any of tA~ Cdlate.al rr~thout }he P~iw wrrtte~ consent of the 8a~k. ~ The Ba~k shail have, but st+a11 ~w[ be Iunied to, the following rghts, exh of which may be exercised a[ anv ume whether or noc ;h~s Note is due: (i) co ptedge or tnns(er tha Noce a.~d [he Cdla[s~al and che Bank shall ~tmeupon be rel~awd oi alf duties and respons~b~Ii~ies nereunde? and ~e!:zvee '~om any and afl t~ab~litr rv~th respect to sny Co1ta[ersl so pladgad a transferred, ard anY p~edgee or trar?fferee shall tor all purposes stand ~n the place of the Bank hereunoer and have afl the righn of the 8ank he.ecu+da; (ii) to tnnsier the whole or any parc of the Cotlateral into the name o~ ~cseit or ~fs nom~nee: I~~~i ~o vot~ tne Coliace+at: 1 iv) to notity tM abligors of any Coliate.al to make psyment to [he Bank of any amounts due or to become d~e thereon; (v) ~o demand, we for, collea, or ~ make an~ comp?omne or settlement ~t deerrs desinWe vrith refe~e~e to the Collate~al; and (vii to take possessio~ a~C~t~1~1~nyP~xeedi pL~ltate~al. ~ 7 17 ~ NOTICE: SEE OTHER SIOE FOR IRAPORTANT INFORAAATION