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Home My WebLink About0231 iNSTALLMENT PROMISSORY NOTE ' TtlRT~E IlEE~ IISSOCIA?iS, IIIC. * IA) Amount R~ce~wd s 5•~.~ BANK NAME 18) P?Mnium for Credit lit~/pisability ins. S '.0. ~x ~i~~ ~N ~~r s A•• ~~7 (CI Dotumtntary Stamps S OFFICE AODRE55 ~ (0) Oth~r Chi~pes (rtemizd : IEI S ~M NOTE NO. UATEO: . 19_~. iF) S lG) Amount Finaoted ouE: February 16 ,19 88_ ~n, s, c, o. E. F~ s (H) Interest S • • PIACE: . FLORIDA (1) Gadit Invesugat~on S fJl Othsr S for value retaived, the unders~gned (hereir?atter Wlled "Maker") jointly and sewnlly (if (K) S more than au) promise to pay to the or r of the Bank at its otf~ce listed above, the Totsl ~ of Payments (~rom (N? at rigAt) of Dolla~s payable in ~ s equal mo~thly installments ot S 78•=7 . ~~~si ~MI FINANCE CHARGE 3~~~~ (H, 1, J, K, LI S-~~ ~nstatlm~nt dus on Mal"Ch 16 19_,]~, and wbsequent installments due oo (N) Total ot Payments (G ; M) S. cnc1~dsy o~ eath month thereatter, coys~ne~ v~ricn s F~tuA~ en~~oON PAVMENT oF: ANNUAI PERCENTAGE RATE i~.~ % 3 OUE ~N~~MM The Ba~k shall impose a delinquency charge against the Make? on any payment which has becwne due and remains in detault fw a period in ~xttss ot 10. days in an amount equal to 5'16 of the amount o( the principal part of the payme~t in default. In the event that the Note is not paid in full st rt?aturity, alI pay- me~ts, whether principal, interest or otherwise, shall bear interest at the maximum legal rate allowecf under the laws of the S[ate of Ftorida. All payments made hereunder shall be credited tirst to interest and then to principal, Aowever, in the event ot detault, the Bank may, in its sole dix~etion, apply a~y payment to ~nterest, printipal and/or lawful charges then atcrued. It is the intention of tAe parties he~eto that the provisions he?ein shall not provide directly or indirettly for ~he payment of a greaier rate ot interest or the retention ot any other charge than is allowed by lavr. If, fw any reaso~, inaerest in excess of wch Isgal rate or a charge prohib~ted by law shall at any time be paid, any such excess shall either constitute snd be treated as a payme~t o~ the p~incipal or be retundecl directly to the Maker. . ' The Maker may prepay the entue unpa~d balance of the loan at any t~me. If the loan is prepaid in (ull, accelerated or refinanced, the Maker shall receive a : e(und ot the unear~ed po~tion of the interest and inwrance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain a m~nimum interest tharge of CREOIT LIFE ANO CREDIT LIFE & UISABILITY INSURANCE ARE VOIUNTARY AN~ NOT REUUIRED FOR CREDIT. Such inwrance coverage is ava~lable at the cost des~gnated below for the term o( the aedit_ (al S ~or Credit life Insurance (b) S ior Gedit life 8 Oisability Inwrante: _ Check ? Credit Li(e Inwrance is desired on the life of qpp~, ' B~rihdate ' Box ? Credit Life & Disabil~ty Insurance is des~red on Birthdate ~ Credit Life and/w Disability Inwrance is not desired. oate: January 30 ~ i9~8 ~ Signature oe~ts . rp~rd Signature u ~ ~ ~ . As security tor the payment of [he Note the Maker hereby gran[s to the Bank a securi[y ineerest in the ollowi proper[y: reoo~a.a oe R eook 263 r "~OO2 u~it Keeks Q . , . . as acr n sa ~ncludirg all inCreases, substitutions, replacements, additions and etteitions thereto and in the p?oceeds therepi (hereinai[er tatled "Collateral"!. This security I ~nterest shall also securc any other indebtedneu w liability of the Maker to the Bank direct or indirect, absolute or conungent, due or to become due, now ex- i is!ing or 1?ereafter a~isiny, ir?Cluding all tuture advanCes or loans by the Bank to the Make?. The Bank is also 9rven a lien and a secur~ty interest ~n all property and securities ot the Maker, endorser, surety, guarantw or accommodation party of this Note (herei~after rc~erred to as the "Obligori '1, now in or at any ume he.eaiter com~ng ~nto the contrd, custody or possess~on oi the 8ank, wAether for the ex- ~ p~essed pu~pose of being used by the Bank as Collateral, or for any other purpase, and upon any balance or balances to the c.ed~t of any accounts, including trust and agency xcounts mainta~ned withthe Bank by any of the Ob~igors, and the Obligors ag~ee to deliver to the Baok addmonal Collateral or make wch payments in reduction of the pnncfpal amount of the Ioan as shall be satistactory to ihe Bank, m the event the a~orementioned Collateral shall dec~ine in value or becpme unsatisfactory to the Bank. Add~t~ons to, reductions o. exchanges of, or subst~tutions tor the Colla[eral, payments on account oi th~s loan or ~ncreases of the same, or other loans made partiatly or wholly upon the Cotlate.al, may lrom time to time be' made without af(ecting the provisions oi this Note. The Bank shall exeruse reasonable care in ihe custody and preservation oi the Cotlateral to the extent requ~red by applicable statute, and sfiall be deemed to have ezercised reasonable care if it takes such action for that purpose as Maker sha11 reasonably request in writing, but no omission to do any act not requested by Maker shall be deemed a failure to exercise ~easonabte care, and no omission to comply vrith any request of Maker shall of itseli be deemed a failure to exerc~se reaso~able ca?e. Bank shall not be bound to take arry steps ~ecessary to preserve any nghis in the Collateral against prior part+es and Maker shall take all netessary steps fo~ such purposes. The Bank or its nom+nee need not rnllect interest on, a a principal of, a~y Co~tatera~ or give a~y notice w~th respect to it. The Bank may continue to hold any Collateral deposited hereunder after the payment o~ this Note, it at the time of the payment and discharge hereof any ot ihe parties I~ab1e for the payment hereot shall be then direcdy or contingentfy liable ~o the Bank as Maker, endorser, wrety, guarantor or accommodation party uf any othe< <+ote, dratt, bill of exchange, or othp instrume~t, or otherwise, and the Bank may thereafter exerc~se all rights w~th respect to said Collate~al granted herein even though this Note shall have been wrrende.ed to the Maker. If the Bank deems itself insecure w upon the happening oi any ot the tollowing events, each of which shall constitute a detault, all liabilities of each Maker to ihe Bank, including the e~tire unpaid principal of this Note ar?d accrued interest, less any unea~ned interest and any interest in excess oi the maximum allowed by law and a~y rebates required by Iaw, sha11 irrwnediately or the?eafter, at the option of the Bank, except that the occurrence o( (c) w Id) shall cause automat- ~c acceleration; w~thout notice w demand, becorne due and payable: (a) the failure of any Obligor to perform any obliga~ion, liability or claim to the Bank, to pay - ~nterest hereon w~thin l~days 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 liab+tiry what- sxver to tMe Bank when due; (b) the death o( a~y indrvidual Obligor, the diuolution o(_ any partnership Obligor or the dissolut~on, merger or co~solidat~a? with- • out the Bank's pno? w?itten consent oi any corporate Oblgw; (c) the liling of a petition in bankruptcy w the adjudication oi insolvency or bankruptcy under any reorganization, arranc,~ement, rp,ad~ustme~t of debt, ditsolution, liguidation or similar proceeding under any Federal w state statute, by or against any Oblgor; Id) an application fw the appointment of a~eceiver tor, or the making ot a general assignment (or the benefit of creditors by, any Obligor; (e) the en[ry oi judgment agairut any Obligor; (f1 the iswing of any attaChment w garnishrt?ent, or the fitirg of any lien; against any property of any Obl~gor; (g1 the taking o( posseuion of a~y wbstantial part ot tlie property ot anY Obligor at the ~nstance of a~y governmental authority; (h) the determination by the Bank thai a materi- al adrerse change has occurred in the financ~al condition of any Obligcx irom the conditions set fwth in the most recent financial statement of wch Obligor heretofore turnish~ ~ the Bank, or irom the condition of such Obligor as heretofore most recently disctosed to the Bank, w that any warraoty, represe~ta~io~, certif~ca[e or statertilnt of any Obliya (whether contained in this Note w not) pertaining to or in con~ection with this Note w the loan evidenced by this Note contaira an untru~ stateme~t of material fact or omits ~o state material tact ~ecessary in order to make the statements made not misleading; or, (i) ~he auign- ment by any Maker of any equity in any of the Coltateral without the prio~ nnitten conse~t of the Bank. The Ba~k shall have, but shall no~ be limited to, the followirg rights, esch of which mey be ezercised at any time whether o? not this Note is due: (i) to pledge a transfer this Note and the Cotlate~al and the Bank shall thereupon be relieved of all duties and responsibilities hereunder and relieved (rom any and aIl Irability with respset to any Collaterel so pledged or transferred, and any pledgee or transferee shail fw a~l purposes stand in the place of the Bank hereunder and have all the riyhts of the Bank hereunder; (ii) to transter the whole or any psrt oi the Co~laterol into the name of itself or its nominee; (iiii ~o vote the Coltateral; !iv) to ratify the Obligors ot any ColWteral to maks psyment ~o the Bank oi a~y amounts due or to become due thereon; (v) [o demand, we fo~, cotleet, or make any compromise d sattlement it dcems desirable with reference to the Collatersl; and (vi) to take possession or control of any proceeds of Collateral. ~ '"BAIqC' as used herate ~u~s T~tte Rsef Asseciates, I~c. and/or 1ts a~~ NOTICE: SEE OTHER SIOE FOR IMPORTAfYT INFORMATION p ~ FBS 752 Rev. 7/77 ~ DO~K ~'A~~ 23i , . . . : - - - _ _ _ - - - _ . . _ , . _