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Home My WebLink About0004 INSTALLMENT PROMISSORY NOTE JE~lSEN BEACIi I3A'.1, • (~?1 Amount Re:.en~d s7 , 350 . 00 ' BANK tVAME (B) Premium for Cred~t ~OIlO LItf~Ulfabllity 1115. ~ 1939 Commercial Stree~,,Jonsen Beach. F133457 ~C) Documen~aryScamps S 14_l0 OFFICE AOORE55 ID) Othtr Charges Utem~ze) S _ _ ~ lEl S~ ~~aTE NO. DATED: ~ ~ ~ . 19--• (F) S IGI Amount Financsd ~ 364 . 10 DUE: 1~ c , 19 . (A. 8. C. D. E. F1 S~ IH) Intare~t ~ s ~ Z 4. 7 ~ PLACE: JenSOA Beach , FLORIDA Crsdit Invssdgation S ~ fJl Other S Fo. value received, tAe unders~gned (her~inalter called "Make~") ~o~ntly and severally (i( (K) S more than onel p~omise Lo paY lo the order of lhe Benk, at its otfice 1~s[ed above, the Total nt Payments (trom IN) at right) ot s 9, 38 g.$ ~ pollars payable in 60 s . ~ c~~~a~ momhly in:tau~nent: 01 S 156 . 4 8 , the tu:t ~M1 FINANCE CHARGE 0 24 . 70 ~ (H, I, J. K. L) S_o2 • ~ns[allment dU! On ~ z~ ~ , 19 and subsequent installme~ts due on (N) Total oi Payments IG + M) Y~ 3$ 8• 8 ~ ine day ot each month thereafter, togetner w~th a FINAI. BA~~oON P~?vMENT OF: ANNUAL PERCENTAGE RATE 10 . 00 ~ 5 tlone oue . t9 The Bank shall ~rt~ose a delinquancy charge against the Maker on any payment which has become due and remains in detault for a period in excets o1 10 E ~fays in an amount equal to 5~16 of the amou~t of the pr~nc~pal part of the payment in default. In the event that the Notc is not paid in full at maturity, all pay- ments, whether principat, interest or otheiwise. shall bear interest a't the maximum legel rate allowed under the laws of the State of Florlda. All payments made - nereunder shall be credited tirst to interest and tAen to principal. however, in the event of detault, the Bank may, in its so~e discretion, apply any payment to neerest, prinupal andlor tawful cAarges tAen accrued. It is the ~nte~tion oi the part~es hereto that the provisions he~ein shall not provide directly or indirectly r;~r the payment of a greatu ?ate of interat or the retent~on oi any other char9e [han is allowed bY ~aW tor any reason, interest in excess ot wch legal rate or ~ cnarge prohibited by ~aw shall at a~y time be paid, any wch excess sha11 eithe~ constitute ar?d be treated as a cayment on the principal or be retunded directly che RAaker. - The Maker may prapay the enhre unpa~d balance ot the loan at any time. I( the loa~ ~s prepaid in full, accelerated~or refinar?ced, the Maker shall recerve a. e!und of the unearned poruon of the mierest and ~nsurance prem~ums computed by the Rule ot 78's method, except that the Bank shall be entitled to retain m~mrtwm interest charge of SS.OO. CREDIT IIFE AND CREOIT LIFE & DlSABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such insurancecoverage is avadable at the cost des~g~ated below for the term o~ tAe credit: (a) S for Credit L~fe Insurance (b) S to~ C~edit lite & Oisability Insurante: ' Cneck ? Credit life Insurance is desired on the life of qpp~ B~rthdate dox ? Credit ~~fe d~ Disabd~ty Insurance is desired on Buthdate ~ Credit L~~e and/or O~sability Insurance is not des~red. ~ ~ : ~ A) ~ ~ : Date ~ 11 ~ r ~ ^ ~ ~ ~ S~gnature X ~ ~.:?r ~ Evert W. Jon~s ~ Sig~ature ~ As secunty fw the payment o~ the Note the Maker hereby 9rants to the Bank a sewnty ~~terest in the tollow~~g property: REA1 ESTATE ~10RTGAGC - lot +~732 ~kP tiection II, :~ettles 7sl:~n~• i ~ - nc~uding all increases, subst~tutions, replacements, additions and acceuions the~eto and in the proceeds thereof (he?einafter called "Collateral"1_ This security II ~cerest shall also secure any other indebtedneu w ~~ability of the Maker to the Bank d~rect or indirect, absolute or contingent, due or to become due, now ex- + ~ ~st~ng or herea(ter aris~n9, indud~ng a11 tuture advances or loans by the Bank to the Maker. . The Bank n also given a I~en and a secur~ty interest in all property and secur~ties of the Maker, endorser, surety, 9uarantor or accommodation party of this ~ No?e Ihere~natter referred to as the "Obl~gori '1, now in or at any t~me hereafte. com~ng into the cont:ol, custody or posseu~on ot the Bank, whether.for the ex- _ p~essed purpose of being used by the Bank as Collateral, w for any other pu?pose, and upon any balance or balances to the credit ot any accountt, inctudirg ~~ust and agency acrnunts mainta~ned withthe Bank by any of the Obligors, and the Obligors agree to deliver to the Bank additio~al Coliateral or make such vayments in reduction of the principal amount of the loan as shall be sat~sfactory to the Bank, in the event the atorementioned Collatera~ shall decline in value become unsatistactwy to the Bank. Add~t~ons to, reductions o. excha~ges oi, or substitutions ~o. the Collateral, payme~ts on account of this loan or ~nc~eases of the same, or other loans made aar nally or wholly upon the Collateral, may from time to time be made without a(~ecting the prov~sions of this Note. 7he Bank shall exerc~se reasonable care in f ne custody and preservation of the Collateral to the extent required by applicable statute, and shall be deemed to have exercised reasonable qre if it takes such acnon (o? that purpose as Maker shall reasonably request in nrtiting, but no omission to do a~y act not requested by Maker shalt be deemed a~aifure to exerciu ~easonable wre, and no omiuion to comply wnth an~c request oi Maker shall of ~tself be deemed a ~aiiure to exeruse reasonable care. Bank shall not be bou~d to ~ake any steps neceuary to preserve any rights in the Collateral against prlor part~es and Maker shall take all necessary steps fw wch purposes. The Bank or its nominee need not rnltect interest on, or a principal of, any Collaterol or give any notice with ?espect to if. " The Bank may continue to hold a~y Collateral deposited hereunder after the payment of this Note, ~f at the time of the payment and discharge hereof a~y of the parties liable for the payment hereof shall be then directly or contingently liable to the Bank as Maker, endorser, surety, guarantw or accommodation party of any other note, d~aft, bill of exthange, or other instrurtfent, o~ otherwise, and the Bank may thereatter exerc~se all rights with respect to said Collaterel y~anted herein even though this Note shall have been wrrendered to the Maker. If the 6ank deems itself i~secure or upon the happemng of any of the ~ol~owing events, each of which shall constitute a detault, all liabilities of each Maker to ` tne gank, including the ent~re unpaid principal of this Note and accrued interest, less any unearrted interest and any interest in excess of the mazimum allowed by law and any rebates required by law, shall imrt~ediately or thereaite., at_the option o( the Bank, except that the occurrence of (c) or (d) shall cause automat- ~ ~c accele~ation; without notice or dema~d, become due and payable: (a) the iailure of any Obligor to perfo?m any obl~gation, liability or claim to the Bank, to pay ' ~~terest Aereon within lOdays after it is due, or ii there is no due date, after it is billed o. otherwise requested or demanded, w to paY any other fiability what- ~ i:-WVer to the Bank when due; (b) the death of any individual Oblgor, the d~uolution of any partnership Obligot or the dissolution, merger w oonsolidation with- ~ ou~ the Bank's pria wnitten consent of any corporate Obligor; (c) the filing of a petition in bankruptcy w the adjudication o~ insolvency or bankruptcy under ~ any reorgan~zatio~, a~rangement, readjustment of debt, diuolution, liquidation or similar proceeding under any Federal or state statute, by o~ against any ~ Obl~gor; id) ars application iw the appointment ot a receiver fw, or the making oi a general assignment for the benefit of creditws by, any Obligor; (e) the entry ~ of ~udgrt~ent agai~ut any Obligor; (t) the issuing of any attachme~t or garnishment, or the filing oi any lien, egainst any property of any Obligor; (g) the taking of ' poszession of any substantial part ot the property ot any Obligw at the instar?ce of any governmental authority; (h) the determination by the Ba~k that a materi- al adverse Change has octurred in the financial condition oi any Obliqor from the co~ditioi?s set torth in the most recent financial statement ot such Obligor ~ heretofore turnished to the Bank, or from the condition of su~h pbligOr as heretofore mOSt retently diSClOSec1 to the Bank, or that any warranty, representation, ' cert~fitate or statement of any Obligw Iwhether co~tained in this Note or not) percaining to or in tonnettio~ with this Note or the loan evidenced by this Note ~ contains an untrue stateme~t ot material fact o? omits to state material fact necessary in order to make the swtements made not misFeading; or, (i! the auign- ~ mer.t by a~y Maker of am equity i~ any of the Co~~ateral without the prior written consent of the Bank. ~ ~ The Bank shall have, but shall not be limited to, the following ?ights, exh of which may be exercised at any time whether or not this Note is due: (il to ~ pledgB O~ trafK~N thiS I~t~' ~d thq Coiiateral and the Bsnk shall thereupon be relieved of all duties and responsibilities hereunder and relieved from any and all ~ ~~ab~lity with resp~tt tdan~r ~l+ter~l so p~edged or transferred, and any pleclgee or transferee shall fo? all Furposes stand in the place oi the Bank hereunder and ~ nave ~II the rights of th! Baek hereunder; (~i) to transfe~ the whole w any part of the Collateral into the name o~ itselt or its nominee; (iii) to vote tbe Collateral; - ~ ( ~v1 to ~otify the Obligors oi any Collateral to make payment to the Bank of any amounts due or to become due [hereon; Iv) to demand, we fw, collect, or ~ make any compromise w settlement it deems desirable with referenee to the Collaterat; and (vil to take posseuion or control of any proceeds of Collateral. ~ _ , - NOTICE: SEE OTHER SIDE FOR lMPORTANT INFORMATION 60~z~ ~a~ ~ ~ i F BS 752 R~v. 7/77 ~ . ~ 3