HomeMy WebLinkAbout0566 ~ ~ INSTAI.LMENT PROMISSORY NOTE . . ~
. . , ~ _ _ . . . SRW . ~
~ . JENSEN ~ BEACH ~BANK : ' . ' . . ; ~ ~ 1=, ; ~i?1'pmo~oi R.c•~wd~ .:y ~ ; 'S,~51~Q= ~ - . • • =1
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_ ~ _ • BANK NqME - ~8I ~Pr~Tn'i.uRf to?~CstdiL~__ •~i~_ ' ~ ' ~ _ ~
. , _ •t' : = -.''.Lit•loisabilit n:.-`., , y`276.72 ~ -
~ 40 CommerciaL"'~Stc"•Jensen~:Be c '`•FL-- - - _ ;Yct ~o"~ ..~-.y~~l-- ii~ ~-;~s 1.~~~ 11.20 . - '
> > a • 33457 - ' ~ ~ - , oc ~ u Sii~rwi-' _'5-.~ .
, .OFFJCE A~QRESS - . .•S-i~,~--S11~- - _ _ . .
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~t_ACE: ~ J ria _n'Bea _h~- _ ~ - - _ •;;FLOAIO/~ -'.II~.Cndit-I~v~stigation•~t~'` tt _ - -
. . • . . • ~ , ~ _ . .ti . ~ ~ ~(JI'•OtMi•':t - ijl ~ - - - ~ _ = ~1
For vslue rsceived. !he undersigned,(hereinsfter ull~d;'M~k~~~•j joiqily,and seyinlly lif' =f~1•~ i', t _ ~i, ~t-- _ ~ ~ _
mare than oM) promis!-1o pay t0 thlOrde~ oi thf'8ank; ~titt Of(iC! listld abOVt, thf ~Oql ' i S~ _ _
. `~Q _ = , t -
or Payments Urom INLst rightl of ~I~379:r10' .~,'~_.Oouiriwysblein.-'F+'(1•-•.~~~ ~ . . ~ ~s~'. ~ ~ .
eyual monthly insbllments oi s~ 1'~'~=99 i•~-
= ~ ~ ' - ' ' ,'the ti~tt~~ ~ ; ~M~~FINANCE~CHARGE
t~'~~ '~'1 `591 `J8 ' - '
instal~men( dw on ' ' " - ji19 ~
~ , ~nd wDseQuent insqltmentsdue oo •!H, i; J; K:-tl ' S ~ ' • -
~ - ~ ` ` iN) .Totsl of Psyments (G + Mt , S ~ 7,~,~7C~ dn _ . • -
~ne - day ot eact~ month ihereattr; togethe`~.~ch a FiaAL BA~iooiu PAYa~ENT:oF:~ = qNNUAL PERCENTAGE RATE ~tn_ nn ~ X~
s tJONE~ - uue - t~. . ; . . - - ~ ~ - - _ . . . _
19
. t.=~ t +:i=~iii;= tt+~-!I , ; = . ~ ~ ~
The Bank shall impose s.detinquency'eh~ge sgains~;tht~Maker on~~n . . . •
Y P~Y~nt wA+ch !ut becoine due and remsini in default toi a period in excau ot ~10
days in an amount equal .to 5X of the amou~t oi tM p?incipal part ot ihe payrr~nt In default_ In the event tAst the'Note is not psid in full at m~turity; sll pay
r*-x~is, whetha principal; interest or othQrwise. shsll beir,intertst ~t the maximum legit ratl.sllowed undK-tAe laws oi tM Ststt oi Florid~. l?11 payments madt .
t~ereunder shall,be credited fiist to interai and then to principil; howeve~,-jn the everit of dNsult,!th~ Bsn{c:rrqy',;inii~ sdediic~etro~, spply ~y payment to
intertst, principsl snd/or.lawful charges ihen sccrued. It irtli~ intention of•the psrtias hereto.thaCtheprQviswni_M~eiqsAall ipt~p?oyidedirectly oi indireetly
tur the payment ot s g~eater rate ot iete?est or the retention ot.iny otMr ~hsip~ than i{ sllowed b1{ ~law: Ifi,~for any.teason,
mttre;t~n excsu ot wch IegN rate or.
a charge p~ohibited by Itw shaq at any time be paid, any such~exceis sfisl! eithei consti~ut~
snd b~ tleated n a p~yment on~tlie priricipsl or~be iefurxl~cl directly ~ -
rutheMska: 'i = ~ _ ~ _ , - - . . . j=-!;~ ` -:!:~-!j:- 1;~--~~:---ljl--:ii= ;i=~il--1~1---#t?-i; _ ,
The.Nlake.maY_W~WYtlieentireunpaid~batanceoithelwnata~y~time=lt~theloaniiprepsid.inJull,~~cc`elc.ated~aretinanced.ihe~Makeiy•~Il.r •-.y.~~~.'+
~ ~ ibs eceive'"a , ~ .
ref und of the unearned poniqn~of tbe.interest and insurance premiums cwriputed.by.the Rule of i8's metAod; ezcept tlist iAe Bank shal~ be
erititkd to retsiri .
a m~nimUmintHKtCharg20t ~j.OO. ' - ~ - , - - ' - ' : ' ~ ''t~~ ~ i'~• ) i-- ~ ~~l1~. - rj ' ~
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CREDIT:LtFE AND CREDIT.CIFE & OISA81L17Y IN5URANCE ARE VOLUNTARY ~1N~~NOT REQUIRED FOR CREUIT:Such'+nwrance coversge is
eva~~abte st ihe tost designa[ed below tor ~ihe terrt~ oi the tredit: la1 S ~,`Z7~j,; 77 = for LYed'it Life Inwnnce.lb) S' ~ 1' ~
tor Credit Lite ~ Oissbility InwranCe: = - _ - - . - - ' i " • ~ - ~ ~ _ _ - • .
. • , - - i-'-:~{----~51~- .i . _ i: .
C~eck ~ Gedit Cife Insurante is desirsd on the (ife of " ' • • • YA' ~ - - . -
- - - - . •.ti.?8(11E!6 ~1~--,sE~3(~3R- . ~
Ann. ~ > > ~ " ' . ' c : , ' . _ _ _ Binndace ~ ~~y[in- • . _ - - _ :
Boa - ? Credit li(e & Oisabil~ty lnsurante is desired ~on ' . - ` - ' - - - - . . . - . - - ~
. - - ' - - ~ _ - . . - Birthdati - _ _ - _ . _ _ . _ .
Q Ctedit tife and/or Oisability inwanCSis not desired:.' - - - - i " = ' _ : " . _ - - . .
- ' - _ : - _ -
- ~ ' . ~ - - • - . - - - - -
Gnte - - - ~S~gnature ' - ' - -
. - _ _ - - ames- j :Beagan - ~ = .
' . _ i - . ~ - - Sig+Wiure , _ - _ . _ - . . _ . - . - . _
As secu~rty tor the payment of.the Note the Maker hereby granu to tM a secWity interestSn the 1oUowirg property: ~ ' -
Lot #1203,-'Sec: 'II; OUT~OpR RESORTS OF AMERICA-aa-r~Pac'rihp~ i~ ~ai~1•mn~},y;~
mc~uding all increases; substitutions, Teplacements, ~dditio~s and accessions_thereto snd io•the proceeds thereo( lheroinaftercalled "Collateral"1_ This secunty
;n~e•est shall also secure any other inde6tedness or Iiability ot. ihe Maker-to the Bank dirtctnr indireci, absolutror tontingent; due o? 2o become due, now ex-
: s t+ng o. Ae?eatter arising, includmg all tuture advantes or loa~s by the $ank to the Maker. _ _ _ ~ ~ _
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7he Bank is also piven s IiM 8f1d 8 SECYnty interest m all propercy and securit~es pf the Maker,endorser, wre[y:9uarantoror accommodation party of this
':uce (hereinatte~ reterred to as the "Obfigori 7, now in or at aoy time hereafte? mming into therontrol, custody or-posseuion oithe Bank, whether tor the ex-
;~•essed purpose of being used by ihe Ba~k as Coliateral, w for any other pu?pose,a~d upon any balance or balances to the c.edit ot any accounts, ir?cludin9
rus[ and sgenCy accounts maintained vmththe.Bank by any of the Obligon, ar?d the Obl~gors agree.to deliver to-the Bankadditio~al Collateral or make such
~;eyments in reduct~o~ of the principal amount of tMe loan as shall be satisfxtory to the8ank, in the event the aforementio~ed CoNaurat shall decline in value
c: ~ be~ome unsatisixtory to the Baok. - - _ . - _ _
Addltions to; reductions or exchanges of, or substitutio~s for the Collateral, payments on account of-this loan or increases of the same, or other loans made
s;a~ t~ally w wholly upon tl~e Collateral, may from time to time be made withoutaifecti~g ihe p~ovisions of this Note. The Bankshall exercise feasonable care in
tne custody and preservation ot the Collateral-to the extent require0 by applicable statute, snd shall be deemed to have exercised reasonabte care if it takes such
nc t~on for that purpose as INaker yf~alt rtasonably ~equest in writirg; but no omissipn to doany~att not requeited by Mdker shall be deer?~ed a faiiurt to exercise
~easonable care, a~d no omission to tomply with sny request of N{aker shsll oi itself be deertrod a isilure to exercise reaso~abk care. Bank shall not be bound to
~ake any steps netessary to p?eserve snY rights ie the Collatasl against prior-p~rties and Maker shall take all necessary steps for.such purposes. The Sank w its
n~ m i nee need npt Coilltt intErest on, or a piincipsl ot, sny Collatenl or give any notice with .etpecrtn it: '
" ~ . y ~~..~.ri:'-';y: , 4 - _
The Bank a»y cont~nue to hotd a~ Collaterat~deposited hereunder af ter the ~
y WY~t ot this'Note, H at ihe time of .the psyment and disd~srgs hereot any of
tne parties lisble for ihe payment hereof ~hal1 b! tAen direttly or co~tingendy liable totF~! Ba~k es Maker;_endorser, wrety; guarantor or accommodation parry •
:~f a~y o~her note, drait, bill oi ezchsnge, or other instrument; w oth~.wise, and the'Bsnk~anay.'tAereafter~sxerc+se aN righa~nnth respect to said Collateral
c-anted herein eren tAough this Note shall have been surrendered to tAe Niaker.- _ ; ; - ~ ~ = ~ . _ . _ . _
I F the Bank dtems itself insecure or upon the happening of any ot the totlowing events, es~ of which shall oonstitute a default, all IiabiliY~es of each Mslcer to
c~,e 8ank, inttuding the entire unpaid printipal of this Note snd saCrued interest, less amr unesrned interest and any interest i~ exoessDf tAa meximum allOweO
t,y law and any rebates required by law, shsll irt~rt~ed~ately a therea~te , st d~e option oi tAe Bsnk, exoept th~t the oocurrenca ot (d or 1d) shalt cause automat-
~c accderation; wi:hout notice nr dert~and, bccomedue and Payabler~(alshe Iailure of ~~y Qbtigor tu perform any obligation, liability or ttaim to the Bsnk, to pay
~ n terest hcreon within lOdays after it is due, w if there is no due date, after it is billed or otherwise requested or deinaoded, or to
pay anyvther ~iabiticy what- =
s~rer to the Bank when due; (b1 the death of any i~dividual Obligw, the dissdution ot any psrtnershippbliqpr.p~e dessolution, merperor oonsolidation with-
ou r:he 8ank's pria w.itten consent ot eny corpwate Obligw; (c1 the tiling of a petition i~ bank~uptcy.p d» adjud~tstion of insolventyor bankruptcy ur?der
any .eorganizstion, arrangert~ent, readjustrt~e+~l ol debt, diuolutiOn, lpuidation or similar.proosadinp under: ~ny _Federsl,or sUte statute, by.or against anY
Ob~ ~gor; ~d) so spplicatioo for the ap{~ointment o( s teceiver fo . or the makinp of a penuel.sssiynment !or thrbenefit.af ueditas by. any OW igor, (e1 the enuy ~
oi iudg~nent agsi~st any UWipor:lf) the issuing of
et~y stt~chment d Sjsrnishme~ft. or-the fili~g ofsiry iien, syainst snypropertlr.of any Obligo?: tgl the fskinp ot
~ssenioe of sny cubstantisl psrt of the property of any Oblgor.at-ths I~ut~ of ~ny yovernmentsliuthority; (h?Zhe.drtermination by-tf~e 8snk that s miteri- _ ~
a1 advt?se cfisn~e has otturred i~ tfN-linantisl oorKfition of ~nj?~Obligpr trpm•tht tonditiOns se(=lorth3n tht-~wst r~csnt tirw~ciit:namtnt of'such~bliyor _
heretofore furnished to ths.8ank, a from th~ eondicion oi weh OW" ~
rgor.u haretofore most secMtly'disdossd to tf~ Bsnk,vr ahst srhr ~rinty; reprasenation, _
cerc~~ipte w-siateriient of sny Dbligor twhether-contained fn this Note or notl~pertainln~ ioor in'oonnectioninrithZhis Note ortl+e:lwn evidenoed by this Note =
con~a~ns sn umrue st~qmentof mataisl ixt a omia to sqte mster~d fatf-~ccess~y inoidernbmake thesistemenlsrnrde~+wt•misls~diny; or,lil•theassipn•.
ment by any Mske~ :of soY-puity:in My_ot the
Collateral writhout the Prioi written conient of t1~e 8snk. ~ j! ~ 1`! i= = i;; _ i,:_ - 1
- The Bank shill hsve, but sfisll not be lirnit~dto, thefollowirq ~.ghts,,esch of whirh msy ~be axaeisrd sc my ~iirtie MA~e[her or~or this Noee~s due:~ (il ~o .
plecfge or ~trsnster tha Note snd ihe Collattql'and tM S~nk ~hsll thertupon bs reliev~d oi sll duti~s ~nd respo~sibitities hereunder snd rdievedf~om arty snd ap - .
; ~ability with resptt to sny CdlsteraJ so Di~dged d-translerred,~and anY pl~dgee pr tr~r?steree shall fpr ~II purposes tund in tM P~ oi th~ $snk.Aer~unde~ aod '
have all th~ ~ighis of the Bank h~reunder; (if) to tr~mter tM whot~ w~ny p~t ot-thlT,ollstad into the nsrtle oi itsllf pr•its~ominte; lii~1 to votethe Collateral;
t sv) to ~otify -tht Oblgws o1 ~ny Coll~te~sl to+n~ke payment to the B~nk of sny ~rtauntt due o~'to become dw tMreon:'!vl-to demard; we id, rollee~t,~ or =
~„ak~ s~y eortpromise or setN~msnt ir •dcems desirsble witb reiennee to the Collstsral;yed .(v~ to tak~ possession:a tontrd: o~ ~ny'procaeds ot Collatenl.
=!;'-',i _ , _ ~ - t'~ _ - t:1-- - ~~{pt-- _ • .
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; ! . ~ , ; ~ ~ 't ~ NOTICE: 'SEE OTHER. StOE FOR IMPpRTAIYT INFORMATION ~ ~'_--~R~IIQ ; :
f 8S 752 Rw. 7/77 . . _ • ' _ ' _ • , • _ • _ . - . -
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