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HomeMy WebLinkAbout0207 INSTALLMENT PROMISSORY NOTE • T~s asr ~~sa ~c.• (A) Amount Receiwd s z•~.a BANK NAME (B) P?~mium tor Cr~dit l.+0. !OS ~l~ .t~ ~~ARS~ fL. ~i~•ia~~~~~v i~:. s~ ic? o«un,.nary stsnw: s OFFICE AODRE55 (p) Othsr CMryss litem~:d S~~ IEI t ~M fvOTE NO. DATED: Feb. 4 . 1g78 • (FI S~ (G) Amount Finsncsd ouE: Feb. 21 ,~s 88 ~A, s, c, o, E, F~ s=~~•~0 (HI Inttr~st s~~- PIACE' . FLORIOA (1) Credil Invesugauon s~ IJI Other t w~ Fo. vslue rec~ived, ths undersig~ed (htninatter qlled "Maker") jo~ntly snd severally (if (K) S~~ more than ond prom~se to psy io t~~ Bank, st its oifice Iisted abov~, th~oul (L, S~ of Psymeots Itrom (N) at rightl of Dollars payable in IM1 FINANCE CHARGE equal monthly installments of S , the f~nt ~:3~ Marc (H, 1, J, K, L) S ~ns~a~Tent due on , 19_, and wbsequent installment: dus on (N) Totsi of Payments (G + M) S ~ the ( each month the~eafter t ther with a FINAI BALLOON PAYMENT OF: • + • . ~ . ~ ~ ~ ~ ~ ~ ~ ~ ANNUAL PERCENTAGE RATE % S DUE The Bank sha11 impose a deli~quency charge against the Msker on any payment which has btcome due and remains in detault to. a period in ~xuss ot 10 days ~n an amount equal to 59G of the amount of the pri~cipal part of the payrtxnt in detault. In the event t~at ths Note is not paid in tull at maturity, sll pay- men~s, whether principal, interest or otherwise, shall bear i~terest at the maximum legsl rate allowed under the laws of the State ot Florids, qll psyments made hereunder shall be credited fi~st to i~terest and tAen to prinCipal, however, in the eve~t of dstault, the Bank may, in its sols discretio~, apply sny payment to ~nterett, ptincipal and/or Iawiul charges then atcruEd. It is the intention of the parties hereto that the provisions herein slWll not provide direttly or indirectly for the payme~t of a g?eater raie oi interest w~he retc~tio~ ot any other charge than is sllowed by Iaw. f f, for any rcason, i~terest in exceu of wch legal rate or a charge prohibited by law shall at any time be paid, any wch extess shall eithe~ co~sUtute and be treated as s payment on the principal or be refundtd directly to the Maker. The Maker may prepay the entire unpaid balance of the loa~ at any time. If the loan is prepaid in lull, aaelerated o. refinanced, the Maker shall receive a ~etund of the unear~?ed portion of the interest and ~nwrar+ce prem~ums computed by the Rule ot 78's method, except tAat the Bank shall be e~titled to retain a m~nimum interest charge of s6.00. CREUIT LIFE ANO CREDIT LIFE d~ DISABIIITY lNSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwrance coverage is available at the cost desgnated below for tAe term o1 the aedit= (a) S ~or Credit l~~e Inwrance (bl S +or Credit Life d~ pisebil~ty Insurance: ~ Check ? Credit Lite I~wrance is des+red on the lite of Appl. Birthdate Boz ? Credit Life & O~sabihty lnsurance is desired on Birthdate ~ Credit Life and/or Disability Inw~ance is not desired. ~yj~ / / ( (~i` ~ ~a=e: February 4, 1978 S~gnafure ~ Signature ~~it{`?~n~~ ~tNlke?~ t~e~a~i ~ i t i~ll~operty_ S s~~~• ~ ~ncluding all incrwses, substitutions, replacements, additions and acceuions ihereto a~d in the proceeds thereoi (Aereinatter called "Collateral"1. This security i ~ncerest shall also secure any other ~ndebtedneu or liabil~ty oi the Maker to the Bank direct or indirect, absolu[e or coneinge~[, due o? [o become due, now ex• 'i ~sung or he~eafter ansing, irxluding all tuture advances o? loans by the Bank to the Maker. I The Bank is also given a lien and a secur~ty i~terest in all property and securitles of the Maker~endorser, wre[y, guarantor or accommodation par[y of this ; Note (hereinaiter reterred to as the "Oblgors"1, now in w at any time hereafter com~n9 i~to the rnntrol, custody or possestion of the Bank, whether (w the ex- pressed Ru?pose oi being used by the Bank as Collateral, or tor any other purpose, and upon any bala~ce or balances to the credit of any accounts, including trust and agency accounts ma~ntained mththe Bank by any oi the Obligors, and the Obligors ag.ee to deliver to [he Bank additionai Collateral or make such payments in reduction ot the principal amount of the loan as sha~~ be satisfactory to the Bank, in the event the aforementioned Collateial shall decline in value or becpme unsatisfactory to ihe Bank. Add~tions to, reductions or exchanges ot, or wbstrtutions (or the Collateral, payments o~ account of this loan or mc.eases of the same, or othe? loans made ~ par[ially or wholly upon the Collaterai, may from time to time be made without affecting the provisions of this Note. The Bank shall exercise reasonable care in ~ ~ne cuscody and preservauon of the Collateral to the extent reqwred by applicable statute, and shatl be deemed to have exercised reasonable care if it takes such ~ act~on iw that purpose as Maker shall reasonably request in writ~ng, but no omission to do any act not requated by Maker sha11 be deemed a failure to exercise ~easonable wre, a~d no omiuion to comply with any roquest of Make~ shall 01 itself be deemed a failure to ezercise reasonable care. Bank shall not be bound to take any steps netessary to preserve any nghts in the Collateral against prior parties and Maker shall take all necessary steps (w wch purposes. The Bank or its ~ nommee need not colletE interest on, or a princ~pal of, a~y Collateral or give any notice with respett to it. The Bank may continue to hold any Collaceral de~osi[ed he?eunder after the payment of this Note, iE at the time of the payrteent a~d discharge hereof any of ~he parties liabk for the payment hereof shalt be then directly or contingently liable to t~e Bank as Maker, endorser, wrety, 9uarantor or accommodation pa~ty - of any other ~ote, d.ait, bill of exchange, or other instrume~t, or otherwise, and tt~e Bank rt?ay thereafter ezercise all rights with respect to said Collateral ~ g~anted herein even thou9h this Note shall have been wrrendered to the Maker. ~ 1! the Bank deems ~tself insecure w upon the happeni ~ n9 of a~y ot the tollowir?g events, each of which shalt consti[ute a default, all tiabilities of each Maker to the Bank, intlud~ng the entue unpaid priticipal of this Note and accrued interest, less a~y unearned i~terest and any interest in excess of the meximum allowed by law and any reba[es required by law, shall immedistely or thereai[er, at the option of ihe Bank, except that the occurre~ce oi (c1 or (d) shall cause aucomat- ~ ~c acceleration;without not~ce or demand, beeomedue a~d payabte: la) the failure of any Obligor to periorm any obligation, liability or claim to the Bank, to pay ~ ~nierest hereo~ within lOdays atter it is due, or if there is no due date, afcer it is billed or otherwise requested or demanded, o. to pay any other liability what- scevet to the Bank whe~ due: (bi the death ot a~y individual Oblgor, the d~uolution of any partne~ship Obligor or the dissolution, merger or oonsolidation with- ~ out the Bank's pnor written consent oi any corporate Obligor; (c) the tiling of a petition in bankruptcy or the adjudicatiort of insolvency or bankruptcy under ~ any reo~ganization,-arrangement, readjustment of debt, diuolution, liquidation w similar proceeding under any Fedtral or state statute, by or against a~y ~ Oblgor; (d) an application fo~ the appointment oi a receiver for, w the making oi a general assiynment for the benefit of creditors by, any Obligor; le) the entry of judgrnent agai~si any Obligor; (f) the iswing of any attachme~t or garnishment, or the tiling of any lien, agsinst any property of a~y Obtigor; (g) the taking o( possessio~ of any wbstant~al part of the property ot any Obligor at the imtance of any governmental authority; (h) the determination by the Bank that a materi- ~ al adverse change has occurred i~ tha financial condition oi any Oblgor from the cw~ditions set forth in the most recent financial statement of weh Obligor heretofore (urnished to the Bank, or trom the condition of wth Obligor as heretofwe most recently disdosed to the Bank, or that any warranty, rapresentateo~, ~ certificate or statement ot any Oblgw (whether contained in this Mote or not) pertaining to or in con~action with this Note w the loan evidencecf by this Note con[airn an untrue statement of mater~al fact w omits to sate material fatt necessary in order to make the statements made not mislsadirg: or, (i) the augn- ~ ment by any Maker of any equity in any of the Collateral without tht priw wnitten consent ot the Bank. The Bank shall ipve, but shatl not be limited to, tFie following rights, exh of wfiich msy be exercised at any time whether or not this Note is due: li) to ~ piedge o~ tran~fN thh Note snd tht Cdlstersl and the Bank shall thereupa+ be relieved oi alt duties and responsibitities hereurxfer and relieved from any and all ~ t~ability with resp~ct to any Coltateral so pledgsd w trsns(erred, snd any piadq~e or tra~s(eree shdi for all purposes stand in the place of the Bank hereunder and havs all tM rphts of the Bank hereurxfer; (ii) to transfer the whok a any part ot tt~e Co~lateral into ths nsme ot itselt or its nomirwe: (iii) fo vot~ the Collsural; , Sw) to notify the Obligors ot amr Collatersl to make paymsnt to the Bank of any amounts dw o? to beeome due ihereon; (v) to demand, we for, collect, or make sny compromise q settlement it deems desirabls with ro(~rence to the Collatersl; a~d (vi) to take posseuion w control o( any procseds of Collateral. ~ ~~w~ 1~+~l~ rrs ?ret3~ ~t Ir~trtN Iw~. ~M/~r ft~ ~f~,p~ R NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION ~t~~K~v~ f~A~E 1, 2 ~65 752 Rlv. 7/T7 _ ~ ~ - - ~ .t.~- , _ . - - - : ~ ~ _ .