The URL can be used to link to this page

Home My WebLink About0159 INSTALLMENT PROMISSORY NOTE (A1 Amount R~ce+v~d S T ~~T c REEE' ntc~('eAN~K~~i'7~MIE1~• (8) P~Mmium for Credit ~t Lii~/pisability Ins. S P. 0. BOX 6Ii3, JGtIS~l1 8~.1C;3, lrL. 33-".57 :c~ ~~:u~n:a~; s~s~: s ~ OFFICE ADDRE55 (O) Olhl~ Gh~~~31~tlmitf) s ~ ~Or~~r ~ ~ . ~ 9 ( E) S NOTE NO. DATEO: (F) S (G) Amount Finanted 6~~•~ DUE: ~CE~~r 11 ,~g~,. (A, B, C, O, E, F) S IH) Int~rest S 1-~~-~ PLACE: , FLORiOA Credit Inwstigat~on S IJI Oth~r S Fo~ value race~ved, the unders~g~ed (hereinafter callad "Maker") jointly and severally lii ~K) s ~ more than one) promise to pay to the orda of tshe Rank, at its otfice listcd abova, ths Total ~ of Payments (from (N) st right) of ~~1~7.~ Dollars payable in _ , che t~.st ~MI FINANCE CHARGE j 759~~ eaual monthly installme ts of S 1 (H, 1, J, K, L1 S ~ ~nsiall ~t due on • , 19 7S , and wbsequent instsllments due on (N) Total of Payments (G + MI S 8.159 ~ ?neli~v ot exh mont~ therea~ter, co9eine. w~~n a FiNe?~ eA~~ooN vAVMENT oF: ANNUAL PERCENTAGE RATE 10• % 5 ~':dE DUE . 19 The Bank shall ~mpou a deLnyuency charge against the Msker on any payment which iws become due and remains in default iw a period io ezcess o( 10 ~ days ~n an amount equal to 5~6 of the amount of the principal part of the payment in default. In the event that the Note is not paid in tull at maturity, all pay- ments, whether principal, interest or otherwise, shall bear interest at the maxirtwm legal rate allowed under the taws of the State oi Ftorida. All psyme~ts made hereunder shall be credited tirst to interesi and then to principal, however, in the event of default, the Ba~k may, in its sole discretio~, apply any payment to ~nterest, prinupal andlor lawful charges then accrued. It is the intention of the partiei hereto that the provisions 1?erein shall not provide direCtly or indirectly fo~ the payment oi a greate? rate of interest or the retention of any.other charge than is allowed by iaw. If, for any reason, ~nterest in exceu of wch legal rate o? a charge prohibited. by law sha11 at any t~me be paid, a~y wch excess shall either consticute and be treated as a payment on the principal or be refunded d~rectly !o the Maker. • The Maker may prepay the ent~re unpa~d balance of the ~oan at any time. If thr loan is prepaid i~ tull, accele~ated w refinanced, the Maker shall receive a ~e1ur?d of the unearned portion of the interest artd ~nwrance premiums computed by the Rule oi 78's method, except that the Bank shall be ent~tled to retain a m:mmum interest charge ol 55.00. . CREUIT LIFE AND CHEDIT LIFE d~ OISABILITY INSURANCE ARE VOIUNTARY AND NOT REUUIREO FOR CREOIT. Such ~nsurance toverage is ava~lable at the cost designated belaw lor the term of the credit: (a) S (or Credit Life Inwrance Ib) S ~or ~redit Life b Disability Insurance: Check ? Credrt Life Insurance is desired on the life of APp~ Birthdate Box ? Ctedrt Life & Oitab~hty Insurante is desired on B~rthdate ~ Cre~ic li(e andlor Oisab~hty Insurance is not des~red. ` . Date ~V~P' 2R~ ,1,,Q7'f S~gnature ~ u Yi 1 A6~1 Signa[ure ! As securiry tw the paV~*+~~t of the Note the Maker hereby grants to the Bank a securiry interest in the following property: Ip TY~"t~~ R~ef Cn~_ I. ~ - - - - ' i ,nc ~ng a~ncreases, su ututions, r ac ments, additiont and accessions thereto a~d in the proceedi thereof (hereinafter called "Collateral"I_ This seturity ~nce.est shall also secu?e any other indebtedness o~ liab~lity of the Maker to the Bank direct or indirect, abso~ute or contingent, due or to become due, now ex- ~sting or hereafter a.ising, including all future advanca o~ ~oans by the Bank to the Maker. - The Bank K also given a I~en and a secur~ty inte~est ~n all property and securit~es of the Maker, endorse?, surety, gua~a~tor or accommodation party of this Noie (hereinafte? reterred to as the "Obt~gors"), now ~n or at any t~me hereafte~ comirg ~nto the control, custody or possess~on ot the Bank, whether for the ex- ~ pressed purpose oi being uscd by the Bank as Collate~al, or tor any other purpose, and upon any balance or balances to the cred~t of anY accounts, including irust and agencY atcounts maintai~ed w~ththe Bank by any o( the Ob~~gors, and the Oblgors ag.ee to deliver to the Bank additio~al Collateral or make such payments in reduction of the pr~rKipal amount oi the loan as shall be satislactory to the Bank, in the event the a~orementioned Collater~l shall decline in value or become unsatisfactory to the Bank. Add~t~ons to, reductions or exchanaes of, or subst~tuuons tor the Collateral, payments on account ot this loan w increases of the same, or other loans made - partially or wholly upo~ the Collaterel, may from time to time be made without affecting the provisions ot this Note. The Bank shall exerci~ reasonable care in ~he custody and preservation of the Co~tateral to the extent requ~red b~ applicable statute, and shall be deemed to have exercised reasonable care ii it takes such act~on tor that purpose as Maker shall reasonably ~equest m writing, but no omission to do any act not repuested by Maker shall be deemed a failure to exercise ~easonable w~e, and no omiuion to comply nnth any request oi Maker sAa11 oi itself be deemed a failure to exe~c~se reasonable care. Bank shall not be bound to take any steps necessary to preserve any rights in the Collateral against priw parties and frSaker shall take all necessary steps for wch purposes. The Bank or its nominee need not collect interest on, or a prmcipal oi, any Collateral or give any notice with respect to it. The Ba~k may cont~nue to hofd any Collate~al deposited he?eunder afte~ the payment ot this Note, if at the time of the payment and discharge hereot any of the pa?ties Isable for the payment hereoi shall be then d~rectly or contingently liable to the Bank as Maker, endo~ser, surety, guarantw or accommodation party of a~y other note, draft, b~tl of exchange, w othe~ ~nstrument, or otherw~se, and the Bank may thereafter exercise aIl rights with respect to said Collateral granted herein even though this Note shalt have been wrrendered to the Maker. If ti~e 8ank dcems itself insecure or upon the happening of a~y o~ the tollowing events, each of which shall co~stitute a detault, all liabilities of each Maker to the Bank, including the enure unpaid pnncipal oi this Note and accrued interat, leu any ur?ea~ned interest and any interest in exceu oi the maximum allowed by law and any rebates required by law, shall immediately or thereafter, at the option of the Bank, except that the occurrence of (cl or (d1 shall cause automat- ~ ;c acceleration; w~thout not~ce or demand, become due and payabte_ (a) the failure of any Obligor to perform any abligatio~, liability or claim to the Bank, to pay v mte.est hereon within l~days after it is due, or ii there is no due date, after it is billed w otherwise requested or demanded, or to pay any other liability what- ~ scever to the Bank when due; (b) the death of an ~ndividual Obl y pa tnership Obligor or the dissolution, merger or tonsolidetion with- y' gor, the dissolution o~ an . out the Bank's priw w.~tten tonsent of any corporate Obligor; (cl the til~ng of a petition in bankruptcy o? the adjudication ot insolvency or bankruptcy unde? any reorga~ization, arrangement, readjustment o( debt, diuolution, liquidation w similar proteeding under any Federal or state statute, by M egainst any i Obl~gor; (d) an appliCetion for the appointment of a rece~ve~ for, w the rr?aking of a general assignment for the benefit of creditors by, any Obligw; (e) the entry ; of ~udgment against any Obligor; the ~ssuing of a~y attachment or garnishment, w the filing of any lien, against any property ot any Obl~gor; (g) the taking of posseuion oi any wbsta~t~al part of the property of any Obligw at the irutance oi any governmentaf authairy: (h) the determination by the 8ank that a materi- ~ a1 adverse change has occurred ~n the fi~ancial cor?dition of any Obligor from the tonditioM set twth in tFro most recent financia~ statement of weh Ob~gw here[ofo.e furnished to the Bank, or from the condition of wch Obligor as heretofo~e most recently disdosed to the Bank, w thac any warranty, represen[ation, -4 cert~ficate or statement of any Obtigor lwhether Cp~tained in this Note w not) pertainirg to or in Connettion with this Note or the lpan evidenced by this Note ~ conta~r~s an untrus statement of material fact or omits to state material fact necessary in orde~ to make the statements made not misleading; a, (i) the assign- _ ment by any Maker of sny equity in any Oi the Collateral without the prior written consent of the Bank. . ~ The Ba~k shall have, but shali not be lirtnted to, the following rights, each of which msy be exercised at any time whether w not this Note is due: (i) to pteclge p transfer this Note and the Co~latsral and iha Bank shall thereupon be relieved of all duties and responsibilities hereunder and relieved (rom any a~d all I~abillty wi[h ~espect to any Collateral w pledqed or transferrsd, and any pledgee w transferee shall tor all purposes stand in the plate ot the Ba~k hereunder and have all the rights of the Bank hereunde?; (ii) to t~ansfer the whole w any part of the Collateral into the ~ame oi itsel( or its nominee; (iiil to vote the Collateral; 1~v) to notify the Obligors ot any Collatsral to make psyme~t to the Bank oi any amounts due w to become due thereon; (v) to demand, we fw, collect, or make any comp~omise a settlement it deems desirable with retererue to the Collateral; and (vi) to Wke posseuion w control of any proceeds of Coilateral. ~ *"~,1tiK" as used herein a~ans TurLle lteeef Associates, Iac. and/or tts assi~ns. ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION 6OOKZ~~ PACE 158 ~ F B5 752 Rcv. 7/77 i.~ . ~