HomeMy WebLinkAbout0770 • ~ INSTALLMENT PROMISSORY NOTE ~ ' ~ ~
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_ ~ ' JENSEN ~$EACH BANK ' ~ - - • "IAl •Amount R~c~iwd' ~-1gT?cx~_c~ ~ ' =
, , 9ANK NAME - _ ' . ~ IB) Pr~miumfa'Cr.dit:; E." : • p: / _ _'.t
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~~-40'Commercial.'St:,`~Jensen'Beach;'FLr 33457' :tct ooc~n;.~+i;.ys~f~~=~;;+z - -'~~-~n - _-'.l
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KOTE NO.~•~~~_-:''~_- '~~-~~'~~=oaT~~;~U3a~'u,;~;t6;,t+~~--~~~~--~ilieZfl:,-~ =tF~~-1;4--+;~=;lt=-,:t _s~~.= 't~~~
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- ;i=' .if-- ijl=-= I~l- t~l = t~i=il1-I~i =1~1=~1l~=' r. l~1-!!{=- ~l(ii.%~?inoirnttFin~ricid' ~ f - Y - _~i!I
ouE: ~Januarj?=11~~~ti:~-~t:.!-~!~i~-~~l1---~i;E~-~~1i~==.'~il~.~~t;t~e~~85-"~lZ~ ~ t;!{A;~e.-~:d~E;F~s~=-~;'~'=-='s :15:782:•10':~
_ = ~t~-= i;t--I;;-~~i=1~1=1j1°=1~~- ijJ--f~l= t~i-Itit-- ;'~Hl~interat't~=~1;?- I;r~=,tli- - =-:'f
P~ncE: - Jensen Beach i~i---~!;:--~ij;=~tit= ~+,f!-=~t~t _~tti "~'-'iy~ -r,r.~'cr«i~~~+wa~;~stb~.=1~:~=-s - - - .
~ - - ~ ^ :FLORID ~ ~ ~
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For value r~c~~wd. tM undeiii~ned jhet~ii~stter ulied_ Mak~t~.) loi~tly and:wer~IM GL ~1! ( = i!' = = 1 k t = - : ! ( S . ~ : - - ~ -
mo~e than oiN) prOmiie to pay.to.tAt,order of..th~ 8ank; at its oifip~ tisted a6ovi ~th~ ~oti{~'! - K) _ _ _ ~
of PaymenttUrom (N)~trightS~ol 21:3~:~$ c Do a R+Yable/n•+~~~i~t~ ~~U~.~t~_~ 1 ; a~_ i_S _ ~.~--li. ~ - -
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c~v~aa~.wo~htyinstaiim~n~sot~•~' ,~j,3~2 ' . - - .~i1'?~'tt ~~~I.FINANCE CHARGE ` ~j~ - - . : •
~nst ff ~ • • ' . • ~ , Rtf', '~_~H;l,.~.K:~~~t:.-+,;.:-' "'s _ _ -~'~i
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e ment due on' '~~Ob. ~ j jy_ '.19,:~$,;'snd wbsequ~ni installirieMS du~ on= -1N1 Tota! of PaYments !G +'Ml ~ i~-
che__1Lday o( each mooth thtiestter,-.topelliet with~ FINAL BALIOOM PAYMENT OF;
DuE' ~
~ • - - - - - :;19 : ANNUAL PERGENTAGE RATE = - ~
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= 7he 8ank"•sAaN i • • • : . • _ : _ . . . ~•!•t
mpoaQ a delirpuen~y chary~ iyiinst the-Makei-o'n sey p~Yri~ent which h5ibecoirN dw ~d nm~int in defautt for a p~riod in 6xcas oi 10 ,
- days ~n sn ~mount equ~l to 5~fi nf tlie smpuol'oI th~~prj~cipsl part o( the piyrryo~in da(~ult: In the ev_spt th~t tM Note is no( paid in tull at rtwturity, sll psy- ~
mencs,-whether'pincipsl; interest vr. otheiwise; shsll.-besr inteiestet tM~mszirtium icyiiTSC~ iltowed undecthe liws~ot the8tate oi Florid~.'All psyment: msde
_ hereunder. sha!! bt c~edited iirst to iMerett_snd th~n to prinCipsl; jiwrevr~; in th0 ever?t o!. dslault,,-t~e~Bsnk;fliay, iri its'sole discretion; apply any'psyrbent to ~
~nterest. Prineipsl and/or lawful cAsrges tAeii aoawd; It ii ih~
~i~tMtion ~ol. th~'parti~s_hereto iba[ tK~provii~ons htitin tAsll not prpvide di~etity o? inHirettly -
to~ the payrn~nt ot ~ grpter rsteoi interast or.tM reuntion:oi iri~/ othiithupi~Mn islalbwsd tijr'Isw. If, for anyiesson, interest in~excess of wch legsl r~te_w
; a c~arge prphibited by-.law shatl ~t any tirrr b~ paid, any wth ~xosss sl?sll either,constitut~
and b~ trest~d ~s s psy,mint~oei~M~ pr'ineip~l or b~ refurid~d directly ~
to the Makei - _ • ' . ~ . - _ _ _ . ` _ _ - - _
' , i~ _ _ : •i•1'= .':1 __•~:2 _"~~{i~- ~iif"- i~i^- ~~1•- .~~ti - ~j: - i~'•'-•i!~~--•ti: 'l~,.,~ ii• ~1~' _ t•
The Mak~r msy prepay the entire uopaid balance of ihe lwn ai s~y .tirtN:ff ~ the ~loan is piepsid ~in 1u11, accslirated or refirianced; tAe _IN~ker_shall receive's
~efund of tM unesrned portioo ot the inte~est arid inwrar+ce piemiurra corriputed bythe~Rul~-ofi78's`metAod, ezcept:tAst tM 8snkshsll bieoiitled io retsin
aminimum'inte~estcAargeof . . - . . . . . .
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CREDIT LIFE AND CRED~T'UFE & DISABtUTY~INSURANCE ARE VOLUNTAHY AND: NOT RE~UIRED FOR CREDIT. Suth inwrance coverageii ~
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ava~lable at tMlost.designated below fw the term of the vedit:~ f~) S- i+~0:~ for,~~dif Life~lnwrsnce.lb) S~ - . -
ro~ C.edic L~f~ ~ o~sabi~~ty_ Inwr;~+oec - - - - - ~ : - : - - - . _ . -
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Check g] Credit.lits Insur~nte is desired on tAe lifi oi . . - - ~ • NpT3T~ ~/i11 °f3p13YO 1 - . - ~ . -
:~pPi. '•.•:~20;000.00 fo1°"84- mos.-deC. '-t@Zm - ' • 8i.thdate-. . ~~I7~:2T . • - ~ - - 1
Bcx ? Gedit Lite d~ Dissbility Insurince is,desired on . ` , i
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- _ ~ Cadit lite and/or'Dissbility~Jnwnnte is riot desired.- - - • ~ : , - - - - - • - .
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aa~z " January 6, -7978- : . _ - . - ~s~~t~.~ - . - - - _ - . - _
- _ . , _ - - - - _ ~ -Henri Villeneuve - ~ : _ - ~ a ~ _ , - - - - ~
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- --1 •:Signature: . _ . . ~ _
As security ior the pay+r~ent of tAa Note ihe INaker 1?ereby ~rants to tMe Bank a-security .int~rest ~n ihe tollowing property; - -
. I.OT #845 Sec. 'II, • `OUTDOOR `RESORTS 'OF~ AMERICA as ~ described ~in said mortq~.~e " " ~ ;
1978 American~35' Travel'Trailer;"I:D~#AT89=78'~ ~ ~ - ~ ~ - ~ -
~^ciuding all increases, wbsiiiutior?s, replacemems, additio~s and ~ocessions•thereto. and in the proceeds thereof (hereinaftercalled "Collateral"):Thissecurity
~n;erest shsll siw secure any otAer indebt-~~+^~ ~=le~i~~~y•nf. the'Mskei tp ths Bank dirBCt or'indireCt; sbsdute or eontingent; due w tobecome due,now ex- ~
~ sz ~ ng or hereafter e~is~ng, includinp all Yuture edvsnoes orlwns by the Bsnk to~the Maker. ~ - : ; . • ~ . _ . , t = ; . _ - _ ~
The Bank is also giren a lien and a secu?ity interest in all prbperty end sseurities of•the"Mak~?; endorser; w~ety, gusr~MOr w acCOmmodation party of this
P.oce Ihere?nafcer rete.red to as the "Obligort"1, now in w at any time hereaher coming imo the cw~ird, custody or possession of the Bankfwhether ~or the ex- ~
o~essed purpcue-of beirg used by [he 8ank ss Collatersl, w(w sny otber.purpose, and.upon any bal~nce or balances to the credit ot any accounts, including .
c; ust and ayency accounts maintained vriththe Bank by any of the Obligo~s, and the Obligors ag.ce to deliver~to the Bsnk additional Collateral or make wch
pav*nents in reduction oi the principal smouM~oi tlie loa~~es she11 be satisisctory to the Bank; in•the event tht aforementione~ Collateral sha11 dectine in vslue
o~ become unsatisfactory to tF?e Bank. . - _ . . - . ` - - - - _ ~ ~
AdditioM to, ~eductions w exCl~anges of, or substitutions tor the Collateral, psyments on account oi tt~is loan d incresses oi the same, o~ other loans made
~,a-t~aily w wholly upon the Collateral, msy from time to time be rt~acfe without aftectin9 the provisionsof tha Note. The Banksha~l exer~ise ~easonabte wre in
;n e custody snd preservation of the Collatasl to the ex[entfequired by applicable ststuu, and shall be deerr~ed to have exercised reasoruble qre if it takes such _
act~on !or 2hst purpose as Maker shall T~asonat~ly requKt in writinp, but no omission to do sny xt not requested by Maker shall be deemed a failure to exercise
reasonaWe care, snd no omission totomply with arry rpuat of Maker shall of itself be deemed a failure to exercise ressonable care. 88nk shat( not be bound to
t~ ke any ste~u necessary to preserve s~y .righn In the Collatlral sgai~t pr'wr parties snd Maker shall taks a!! r~ecessary stepa fa weh purposes: The Bank or its
~om~nee r~ed not coUact inurest on, w a principsl oi, sny Collste~al w Qive sny notioe with respsct to it. " - _ . _ , - • ,
The Bank msy continiie to hdd sny Coll~tasl deposit~d hereurde. atta? th~ psymait-of Mis Note; if. st the time oi tM psyrt~ent snd d'ischsrge hereof any ot _
zne parria lisbk tw the payment hereof ~hall be tf~en directly ar oo~tingen{ly liable to tM Bsnk ss Msker, entform, surety,.guar~tor or aacornmodstion parcy
ot any Othl~-nOtl; drait, bAi of ~xchange, or other :~sirument, w otherwise; and th~ Bank msyt~e~eafter exercise~sll-riyhn wiM rqpcct-to said Collateral -
g~anted herein wenttwugh this Note shall hsvt been surr~ndered totfie MakM. - - . ` ' ' = '
I f ihe Bank daems itself insecure or upon tbe happeneoy of any of the tollowirp events, esch of which shail consfitu[e s detwlt, sll liabilitia of each Makar to -
±he Bank, includinp the emire u~paid principsl ot tfiis Note snd xausd interest; kss a~y uneamed interest and aoy inttrest in exoess of the maximum sNowsd '
by law ~~d any rlbatK rlquir~d by IiW, thsll imrtrdiately or tht~esftK. st t1~ option oi•t!N Bsnk. extept Mat the oowrre~~ce of (CI or (d) shsfl cxue ~utomat-
~c accetsration:without notioe a demand, b~oomedus and psysb4:-ts) tM failure of sr~pplqw•to pe?form a~? oblgation;Jisbility vr daim to tfN Bsnk, to psy
i n terest Ae~ep~ within 1Odsys siter it is due, or if there is no due dsu; ait~r it is bilkd w otharwi~e rpuested a darnanded, or to pay smr other liability what- -
s,ever to iM Bank when dus; (b1 the death oi p~y individual Obliyot,~tl~e di~solutiai of arry p~rtnership Oblipor or the dissolution, merper or oonsolidstion with-
ouc [he Bsnk's prio~ written conae~t ot a~y cwpw~te OW gw: W-fhe tilinp W s petition in ba~kruptey
or~he sdjudicstion of insohrency or bankruptey under
any reorqsniz~tion, arran9emeet, ~esdjustrtient of debt; dissolution, tpu"idation oi_similar_proce~dinpynder ~ny Fa~deral -nr cbot satutt. by ~r ~yainst sny
~btigor: (d? an appRiution for tht appointment of s~npiwr7w, or-itie makiiy of s perwat assiynmentlo~'tfi~ btmtit of q~dimrs by. any pbfigcx;.lil the snuy
of 1udy~nt sysinst ~~Y DW~9Q?: (q the iswing of snY ~ttacl~rtient w psro'ahm~nt, w-tM iping of sny.lien~ ap~ir?st ~rMCP~~1? of snY Oblgor: ~9) tAe Ukinp ot
poss~sion oi ~ny subsantisl Dart W the proper~y of am? Oblipw st ihe irutance qf s~y yortrnrnenW suthoritY:'(h1_tl~e dttermination by ~thi Bank thai s mate~r _ _
a; sdvsrst ohany~ has oocvrrcd io tbe tinanwl ow~dition ot snY pbl'por.~rom tfie eonditiw~i'et foith. in ihe. most-reoeiii fi~neisl sn4emenr of si~eh'Otiliyor
~eretoids fumished to th! Bsnk, w-lrom the eondition ot sueh q~tipor p hK~tofasmost.rso~nt)y d'ado~sd tolhe Bink,.orthat snlr wsrranty. iipr~sarotioe~.-
ct.tificet~ a-stat~rnent ot•sny Obliyor 1w1~etFror e9r?tsinsd in this Hois orrot) periairiinp to or~n oonnection widr~a Nt~te w.the bri~~videncsd bqr this Note =
- cc~ta~ro ~n vnhur stitameni Df matariif fsct o? omitt to ststt msterial fsct~s~y in wder to mske the ststenients msd~ eot mislpdwg: or~jil. tb~assi9n-_'
ment bY snY Ms~ce~ Of sny puity in my' of t1N ColtsLeral witf~out the P~w!
written toruent~t-t1w 8snk. - - • • ` '.1,' - . i - . _ . - • . _ .
Th• Bs~k shslt ~havt, but sAsll not be limited to, the toflowiny i~iphts;-pch~o~ whieh m~y be ex~reis~d at_~ny tirn~,ahethw a~ot.this Note`is"due:~Gl co _
o~ edge or ir~nstK tAit Nott and thFColl~tNd snd the B~nlc thiU tMreupd~ be rali~vtd of NI duties snd respwisibillties A~rsunder ind rNiered from anj? and sil .
l;abitiry witb sesp~ct to ~n~r Colbt~r~l w pl~tlyad pt t~~nsterr~d, and p~y pledp~e p 1ran~ferM shdl tor sll purposes sts~d in-the plste Of~ Bsnk i~er~under snd
harr a11.tM rqhts of tAe Bank hereunder; (ii) to trsnsfp tl~e whoM a iny pat ot the ColtattrN into tM nsrtw of itself o? its rwrtsinN; (iiil m wa~M Cotbtent: .
f~v) to notify tM Obli~xs of ~ny Collstenl tom~b psyment to ths Baok oi any urwunti dw w to become du~ tAereon; (v) lo~d~n»~d, we fb~~ooll~ct, or -
make ~ny eompromist or ~etttement it dams d~sirsWe witl~ nf~renp to th~ Collateral;.and (vi) to tske possestion or. Lontrol of s~y p?ot~edt of Coll~ttral.
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• -=..;i1-: ~ . - +--NOTICE: SEE OTHEflSIDE FOR IMPOR7ANT INFORMATfON G~ ~ ~ ' - y
FBS ~SZ-R.~ ~ - . - . ~ . : - - . - ~ . ~ _BQt1X ~•Ypil~; •7~~ ~ :