HomeMy WebLinkAbout0188 ~ INSTAIIMENT PROMISSORY NOTE
.
FIRST NATIONAL BANK OF FORT PIERCE 1/?1 AmountR~ce~~~d S 1. 800, 00
BANK NAME (B) Premwm fOr C~ed~t 49. v3
. lif~/Disab~lny Ins. S
Post Office Box 9~0 Fort Pierce, Florida tc? oo~~~~a.v s~s~: s ' 3. 45
- OFFICE AODRE55 (D) Othe~ Charges (itemite) t none
(E) S n~r+P
NOTE NO. 1 1~7620-2 oATEO: December 9 , 19?7 . (F) s none
IG) Amount Finanted
ouE: December 10 ,~9 80 , ~n, e, c, o, e. F~ s 1 853. 08
1N1 ~ote.es~ S 337.98
P~ACE: Fort Pierce , F~oRioA ~u c..d~c i~~~~~~~o~ s 12. 50
u~ o~n~~ s none
For value received, the unders~gned (h~rainatter plled "Mak~r") jointly and severatly (it (K) s nnnE±
more chan onel promis~ to pay to the ordtr of the Bsnk, at its office listed above, che Total
ot Payments I(rom IN) at .ighd ot ~2 . 203. 56 Dollars payable in 36 S none
equa~ monthly i~stauments ot S 61. 21 , the (irst iM1 FINANCE CHARGE 350. 48
(H, 1, J, K, ll S
~nstallment du~ on Tan, 1 Q ,193$, s~?dwbseque~t installments due on (N) Tota1 of Payments (G * M) s 2, 203_ 5~i
chelQday o! each month the~~sfte?, togsd+er v~ri~h a F~N~?~ e/?I.LOON P~?vtu~ENT OF: ANNUAL PERCENTAGE RATE 1j. I+3 ~i
3 Nc~ne DUE Non _ , 19
The Bank shall impos~ a delinquency cAarge against tAs Maker on any~payment which has becom~ dw and remains in delsult fw a period in ~xpss o! 1~
days ~n an amount equal to 596 of the amount of the principal parc oi the paymenc i~ detaul~. In the event ~hat the Note is not paid in full at maturity, sll psy-
ments, wAether prineipal, interest or othe~wist, sha11 bear interest at th~ maximum legal ~ace aflowed uMer che tsws oi the State oi Flwida. All payments madt
?+e~?under slwll be ttedited tint to interest and then to principsl, however, in the event o1 defau{t, ths Bank may, in its sole disuetion, spply any payr»ent to
~ncerest, principal and/or lawful charges Men accru~d. It is th~ intentio~ of the parcies hersto that the provisions herein sha11 not provid~ directly or indinctly
fo. che paymsnt of a g?tatar na ot interest w the rttention of any other chargs tha~ is allowed by law. If, for any ~easa+, interat in excoss of wch legal nte a
a charqe prohibited by law shall at any tlms be paid, any such exc~u shsll either constituts and be trested as a payment on the principal w be refunded dirlcNy
~o the Makar.
The Mak~r may p?~pay tM entire unpaid balante of the loan ac any lims. If the loa~ a prepaid in full, actelerated or reiinanted, tAe Makx shsll nqiw s
~efund ot the uneurnd portion of tAe interest and insurance premiums computed by the Rule of 78's method, excap~ that tAe Bank shall bs entitled to reUin
a m~~imum in~NlSt Chirg~ ot ~J.~.
CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO FOR CREOIT. Suth ituuranq Coveray~ is
ava~lable at tM cost designatad below for the term of the credit: (al 5~,4. 63 for Gedit life Insurance (b) S None
for Credit Life ac Disabi6ty Inwrante: • '
f
C~+eck ~ Gedit Life Insurance is desired oo the life of Kenneth C. Thomas •
qppi. Bi?thdace 2/?/42
Box ? Gedit Life d~ Uisability Irtsurance ~s desired on
Birthdate ` ~
? Credit life and/or Oisability Inwrance is not des~red. ~
~ato: December 9. 1977 Signature `F~~~~ ~
Signature
I
~ As security tor the paVrt+ent of the Noce the Maker hereby grann to the Bank a secur~ interest in the followin9 property:
; UNSECURED- Second mortgage as additional col~ateral
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~ r~~~~~~~~~~~~w~~~~~~~~~.~.~~r~~~~~~r.~~~~~~~~~~~~~~rw~~~~~~~~~~w~~~~~~.~~~~~~~~~~~~~~
~nc!ud~ng all incresses, substituuons, replaceme~[s, additions and access~ons thereto and in che proceeds thereof (hereinafcer cafted "Collatenl"l. This secunry
~nterest shall atso secute anY other indebtedness w liabd~ty ot the Maker to the Bank dirett or indirect, absdute or con~ingent, due w to become due, now ex-
~ ist~ng or hereafter s~isirg, inctuding all future adva~?us w loans by the Bank to iAe Maker_
~ The Bank is also given a lien and a securicy in[erest m all p.operty and securiues of ~he Maker, endo~ser, wrety, guarantor or accommodation parcy o( this
Note (hereinafter referred to as the "Obligors'1, now in or at any time hawfter com~ng mco the contrd, custody or poueuion of the Bank, whether fo~ the e~c-
pressed pu?pose of,being used by [he Bank as Collate~al, or for any other purpose, and upo~ any balance or balances to [he credit of any accounts, ~nclud~ng
~ *rust and agency actounts mainta~ned nnththe Bank by any of the Obligors, and the Obtigors agrce to deliver to the Bank additional Collateral w mske wch
pavments in reduetio~ of the principal amount of the loan as sha11 be sat~sfactory co the Bank, the event the aforementioned Coilateral shatl decline in vslue
~ or become unsatnfactory to the Bank_
Add~tioM to, reduttio~s w exchanges of, w wbstitutions for tl?e Collateral, payments on account of this loan w increases of the same, or other tosns made
parc~ally w wholly upon the Collaeera~, ma1? from cime to [~me be made +~rithouc afiecting [he provisions of this Note. The Bank shall exeruse reasonable car~ in
che cuscody and preservation of the Collateral to the extent reqwred b~ applicaDle staiute, and shall be deemed to have exercaed rwsonable pre if it takas such
acc~on (or that purpose as Maker shaU reasonably request in writing, but no omiss~on to do any act not requested by Maker sha~l be deemed a tailuro to exac~st
~easonabte care, snd ra omission to comply nrith any rcquest of Maker s1w1I of itself be deemed a failure to exercise reasonable care. 8ank shall not be bou~d to.
!ake any steps necessary to preserve any rights in chs Collateral against prio~ parties and Malc~r sAall tske all nec~ssary steps fw wch purposes. The Bsnk oi its
nom~nee nead not cdlect interest on, or a principal of, anjr Collaceral or give any notice with respact to it. -
The 8ank may continue to hold any Collate?aI deposited hereunder after the payrtw~t ot this Not~, i( at the time of the payment snd dischsrge hereof amr of ~
che pa~ties Iiable for the psyment hereof shail be then direcUy or contingently liable to the Bank as Maker, endo~ser, wrety, guarantor or accommodatron party
of any othe~ note, drsft, bill of exd~anqs, or otha. instrumenr, or otherwise, and the Bank m~y therwfter exe?c~se a11 righa with respect to said Collaunl
granted herein even thaiph this Note shalt hsvs been surrenderad ro tAe Maker_
I f che Bank deems itsNf insecure w upon the happening of any of the follow~ng events, ead+ of whieh shall rnnstituce a defwlt, all liabilities of esch Maker to
the Bank, i~tluding th! entire unpaid printipsl of this NOte and actrued interest, less aMr unearnld interest atld any interest in ~xtess ot th~ maximum s110wed '
~ Gy iaw and arry rebates rpuired by law, shsll imrt~sdiatNy or the.eafcer, at the optwn of the Bank, exppt chat the occu~rence ot (c) w(d) shsll eause wtomat-
~ ,c acceleration:withoue notioe w demand, beCwnedue and psysble: (a) the failure of any Obligot to perfo~m arry oWigacion,liability or tlaim to tM Bsnk, to pay
~ ,nta*est hereon nnthin ~OdaYS a(tet it is due, w if th~re is no due dace, afte. it is billed w o~hawise rcquested o. demanded, a co pay any ocher Iqbility wha[-
soever to tfne Bank when dus; (b) the death of any ind'nidusl Oblgot, the dissdution of any pannership Obligor or the ditsolution, merger w confolidation witM
ou~ the Bank's prior written consent of any co.ponte Obligw: (e) the (iling of s petition ~n bsnktuptcy ot the ad~udipt~o~ of insofvency or bankruptty undsr
any rewganitation, arrsngement, readjustment of debt, diuolution, tiqu~dauon w similar procteding u~da sny Federal w state ststute, by or aga~nst a~y
~ Gbl+gor; td) an application for the appointment ot a roceiver fw, or the making of a general suignrt~ent for Me benef it of creditas by, any OWigw; (e) che entry
oT ~udgrti+ent against any Obligw: the issuing oi any attaChment or qarn~shment, O? the filing of any lien, agairKt aml ptOpMy o( sny Obligpr; (g) the tsking of
~ possess~on of any wbstanual parc of tM property of a~1r Obligor at the instance of any governmental suthwiry; (h) the decermmatwn by the 8ank that a materi-
at adverse thangt has ooturred in the finsncisf co~dition of any Obligor from Me conditions set forth ~n ths most recent tinanc~al sqtement of wcA Obligor
~ hererofort furn~sM~d to tlro Bank, or from the tondition of wch Obligor as heretofwe most retlntly disdosed to the Bank, or tAst any wsrranty, represenation,
cert~ficate d statemtnt of any Oblgor Iwhether tontained in this Note w not) pertsi~ing to or in tonnettion w+M this Not~ w tAe loan evid~nced by this Not~
conta~ns a~ untr~ sWtsmsnt of material fact o~ omits to stste mate~iat fa~t neceuary in wd~r to mske the sUtert~ents made not mKlpdi~g; or, (i) th~ m~gn-
rr.en[ by any Maker of any equity in amr of tM Collatanl without th~ p~ia vKicten consent of the Bsnk. _
rg ights. esch of wAich may be exacaed st an
~ The Bank shall hav~, but shall not b~ limitad to, the fdlowi r y tirt+~ whether or not tfiis Nop is dur (i) to ~
piedge w trsnsfer this Note and the Gollste~sl and the Bank shall thereupo~ be relieved of sll duties a~+d respontibilities hereunder and relieved from any ~nd atl F
I~ab~lity with resp~et to any Collatenl so pl~dg~d or tra~sfttrsd, and sny pladgee or transferee shall for sll puryoses stand in tht plsoe of tAe Bank her~under and ~
have all the rphn of tAe Bank herwndsr; (ii) to tfsnsfer tM wAoM w anr part of tt» Collateral into tM nsrne oi i~self or its rwmincr, (iii) to wt~ tM Collatenl;
1~v1 to notify ths Oblqas of any Collatenl to mske payment to M~ Bsnk of any amouna du~ or to beewns due therw~; Iv) to demand, sw lor, coll~ct, w
~ make any Compromise Or tettlemint it de~ms desinble with ref~renCe t0 the Co1latMal; and (vi) to take poss~ssion or control of amr prop.ds of Collatenl. 4
a:; ~~?OQK~ir~ ~
~ NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION