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HomeMy WebLinkAbout0167 INSTAILMENT PROMISSORY NOTE , (A) Amount R~te~wd S Q•~~~ ~i~~~ ~~1~1~i t_S~ Z Y(~.~ 9ANK NAME (8) Premium tor C~edit Lit~/U~sabil~ty Ins. S P. 0. 8CX b18. JEr~s[~t eEAC~, i'L. 33~57 ~c~ ~ocumsntsry Stamps S OFFICE AODRESS l01 Cl~ne~ Char9es htem~:el S iEl S ~ NOTE NO. OATED: NOV. i9, , 1g 77 . (F) S ~ (GI Arncwnt Finanted 8 ~ ~ DUE: ~eC. 1 , ~g 87 (A, B, C, O, E, F) S • ' (H) Interest S s • PLACE: , FLORIDA Crsdit Invest~gat~on S IJI Other S ~M For value rece~ved, the unders~gned (hereinalter calted "Maker") jo~ntly and severelly (~f ~KI S more than onel promise to pay to the R`rde~ of the Btanwk, at ~ts ottice listed above, the Totsl ~ ot Payments (from (N) at r~ght) oi i1Z~~7•w Uollars payabie in ~ S tAe IM) FINANCE CHARGE cA equal monthly install nts of S aV7.~ , tM tirst (H, 1, J, K, L) a 4~w''w ~ ~nslallrt?ent due on ~dn 1 , 1g_, ar?d wbsequent instaltments due on (N) Total of PavR+ents lG i M) S iZ~~.~ ~ne 1s tday ot eacn manth tne~eafter, together with a FINAI. BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 1O 96 S _ DUE ~~NN~~M~w~M~M~N~Y~N » The Bank shall impose a del~nquency charge against the Maker on any paynxnt which has become due a~d remains in default tw a period in exoas of 10 days ~n an amaunt equal to 596 of the amount of the pr~ncipal part ot the payment in default. In the event that the Note is not pa~d i~ tull at maturity, all pay- ments, whether principal, interest or otherwise, shall bea. inte~est at the maximum legal rate allowed unde~ the laws of the State oi Florida. All payments made hereunder shall be cred~ted first to interest and then to pri~cipal, hwvever, in the event oi defauh, the Bank may, in its so~e discretion, appty any payment to ~ncerest, pri~cipal and/or lawful charges then accrued. It is the ~ntention oi the parties hereto that the provisions herein shall not provide directly or indirectly fo~ the payment o~ a 9~eate~ rate ot inte~est or the retentio~ oi any other charge than is allowed by law. If, for anY reason, i~terest in excess of wch legal rate or a charge prohibited by law shall at any time be paid, aoy such excess shall either constitute aod be 2rcated as a payme~t on ~he pnncipal or be refunded ~~~~:.dy i~K ~axe~. • The Maker may prepay the entire unpa~d balance ot the Ioa~ at any time. If the loan ~s prepaid in lull, accelerated or ref~nanced, the Maker shall rece~ve a •efund ot the unearned por~~on o+ the ~nterest and insurar?ce premiums computed by the Rule oi 78's method, except that the Bank shatl be entitled to reta:r. a m~nimum interest charge ot $5.~. CREDIT LIFE AND CREDIT IIFE d~ DISABIIITY INSURANCE AfiE VOLUNTAHY AND NOT REUUIREO FOR CREDIT. Such insurance toverage is ava~lable at the cost designated below for the term of ihe credit: (a) S for Credit li(e Inwrance Ib) S ~or Credit Lrfe d~ Disabihty Insurance: Check ? Credit Life Inwrance ~s desired on the lite pf q~~ ~ Birthdate Box ? Credit L~ie & O~sabihty Insurance is desired on B~rthdate ~ Credit L~fe andlo~ D~sability Insurance is not des~red. Nov. 19, 1977 Dace S~gnature A r Signatu Ps~.,~y iw I~ ~Y~~! cn~ N~e tt~~:e.i e.eb~ac.nc~s t4o1d in~~. R u~icy ~nte~est i the ~ollowing proper . 0.0769~ uadirld~d 1 ~I L 1 K!Q'T . . , . . 1 as described 1~ said ¦o*~ - • i ,ncluding a~l increases, substitutions, replacements,'additions and access~ons thereto and in the proceeds thereof (hereinafter called "Collateral'"1. Th~s security ! ~nterest sha~l also secure any othe~ ~ndebtedneu or liability of the Maker to the Bank duect or indirect, absotute or contingent, due or to betome due, now ex- ~st~ng or he~eafter arising, ~nclud~ng all tutu.e advances or loans by [he Bank to the Maker. The Bank is also given a lien and a secur~[y i~terest ~n all property and securities of the Maker, endorser, surety, guarantor or accommodation party of this Note (hereinafter referred to as the '"Obhgors"'1, now m or at any ume l~ereafter com~ng ~nto the control, custody or possess~on of the Bank, whether (ar the ex- ~ preued purpase of be~nq used bv the Bank as Collateral; or fo? any other purpose, and upon a~y balance or balances to ihe credit of any accounts, ~ncluding t~ust and agency accounts ma~nta~~ect wuhcne Bank by any of the Obl~gon, and the Obllgors agree to deliver to the Bank additiona~ CoHa[e.al or make such payments in reduct~o~ of the p+incipal amount of the loan as shall be satisfactory to the Bank, in the event the afo~err~ntioned Collateral shall decline ~n value o~ become unsat~sfactory to the Bank. Add~tions to, reduct~ons or exchanges of, or subst~tutio~s tor the Collateral, payments on account of this ioan or ~ncreases of the same, or other loans made pa~t~a~ly or wholly upon the Collateral, may from time to time be made without affecting the provisions of this Note. The Bank shall exeruse reaw~able care in the custody and preserva[ion o! the Coltateral to the extent requued by appl~cabte statute, and shall be deemed to have exerused reasona:,:o care if it takes wch act~on fpr that pu~pose as Maker shall reaso~ably request in writing, but no omission to do any act not requested by Maker shall be deemed a tailure to exe~C~se eawneviE i,eic, or~u i.v 'v ,i:'siiv.^. .::..^..:.~.~y 6.^.~ ..:~~M: ~~-3~~ i~`•3!! +*-s°!! L~_ a failure to exeruse reasonable care. Bank shall ~ot be bound to ~ake any steps necessary to preserve any rights in the.Coltateral aga~nst prior part~es and Maker shatl take all necessary steps for such purposez. The Bank or its nommee need not collect mterest on, or a pnncipal ol, any Collateral or g~ve any notice with respect to it. The Bank may continue to hotd any Collateral ~fe{~os~ted hereunder after the payment ot this Note, if at the time of the payment a~d discharge he~eot any oi ~he parties I~able for the payment hereof shall be then d~rectly o. contingendy hable to the Bank as Maker, endorser, surety, guara~tor or accommodation party of any other note, dralt, bill of exchange, or othe~ instrument, o? othe.w~se, and tF?e Bank may thereaf[er exeruse atl r~ghts with respect to said Collateral Qranted herein even though this Note shall have been wrrendered to the Maker. ~ If the Bank deems ~tself msecure or upon the happening of any ot the following events, each of which sha~l constitute a default, alI liabiliues of each Maker to tho gank, includ~ng ihe entire unpa~d principal of this Note and accrued mterest, leu any unearned interat and any interest in excess of the maximum allowed ~ by law ar?d a~y ~ebates requ~red by law, shall immed~ately or the?eaiter, at the optwn of the Bank, except that the occurrence of (c) or (d) shall cause auiomat- ~ ~c acceleranon: without not~ce o? demand, becomedue and payable: (a) the failure of any Obligor to perform any obligation, liability or claim to the Bank, to pay ~ ~nterest hereon within lOdays after it is due, or if there is no due date, aiter it is billed or otherwise requested or demanded, or to pay any other liabitity what- 's.~ soever to the Ba~k when due; (b) the death of any ~r?div~dual Obligor, the d~ssolutio~ of ~y part~ership Obligor or the dissofution, merger or opnsolidetion with- ~ out the Bank's priw wriiten consent oi any corporate ~blgw; (c) the fili~g of a petition in bankruptcy w the adjudication of insolvency or bankruptcy under any reorganization, ar.angement, readjustment of debt, diswlution, liquidation w sim~lar proceeding under any Federal or state statute, by or against any ~ Obhgor; (d) an appbcauon for the appointment of a receiver for, or !he making of a generel auignment for the benefit of creditors by, any Obligor; (e) the entryr of {udgment againit any Obl~qor; (t) the isw~ng of any attxhme~t or garnishme~t, or the filing ot any lien, against a~y property of any Obligor; Ig) the taking o( ~ possession of any substant~al part ot the property oi a~y Obligor at the instance of any 9overnmental authwity: (h) the determination by the Bank that a mate~i- ~ a1 adverse change has occurred in the tinancial co~d~tion o( any Obligor from the conditions set torth i~ the most recent financia~ statement ot wch Obligw heretofore furn~shed to the Bank, or from the condition ot such Obligor as heretotwe most recently disdosed to the Bank, or that a~y wa?ranty, representation, certificate o. statement of any Oblfgor (whether contained fn this Note o. not) pertaini~g to or in connection with this Note or the toan evidenced by this Note ~y contairu an untrue statement of matenal fact or omits to state rt?aterial tact necessary in order to make the statements made not misleading; o~, (i) the auign- ~ ment by any Maker.oi a~y equity in any oi the Coltate~al without the priw vritten consent ot the Bank. F~ ~ The Bank shall have, but shsll not be limited to, the iollowing rights, exh ot which may be ezercised at any time wfiether or not this Note is due: (i) to ~ oiedge w transter this Note and the Collateral and the Bank shall thereupon be relieved o( all duties and responsibilities hereunder and relieved from any and all I~ab~lity with respect to any Collateral so pledg~d d Vansferred, and any pledgee or transieree sha11 for all purposes stand in the ptace of the Bank hereunder and ~ have all the rights of the Bank hereunder: (ii) to traAtfw tM whole or any part of the Collateral into the name of itself or its nomi~ee; (iii? to vote the Collateral; (~v) to notify the Obligors of any Collateral to make payment to the Bank oi any amounts due or to become due thereon; (v) to demand, we fo~, collect, or ~ make any comprort?ise a settlement it deems desiraWe with reference to the Collateral; and (vi) to take possessio~ or control 01 any procesds of Collateral. ~ ~"fsAl~K° as ~sed t,rrcin ~~.~zr.s Turtle P.eef l:ssccir:~ces, Inc. an~/flr its assic~ns. NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION O R~~~ ~ E F~?5 T52 R!v. 7!J~ BOOK PHC O 4'.~, _ . .