HomeMy WebLinkAbout0547 INSTALLMENT PROMISSORY NOTE '
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- JENSEN $EACH ~BANK . - - "'~I~ j~ ~tAl ~Amouni Receiwd .i '.t• •18:000.~0 ~
- _ _ _ gANK NAME:~ _ t; : !j~ _ ~{1'= li~-- i~;• (B) Pr6rri~~mlor'Cred~t:~~~' •i, .'_-~.t ~
. • . ; _ _ . ,1 . : • " ,Lile/Disabililylns.•', ~ ~S ~l ~5OO.(~
~1939 .Commercial~St.,`.Jensen~~8each~,~FI:~~83457`-~-~~;•!~~ 1c~ ~OocumeniaryStemp! },•f'~.s - • ~q~_Sn
- OFFICE AOORESS--. _ _ . (I•- : - . • 1 ~ _ . _ - _ : "
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:-~i~) _~~~1.~'! '~~OI.~Othej~Char9ss~~iemi:e~;lil:t' • - y ~'i;.
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N07E~N0: ° ~DATED' i' ~ 7B'• ' , _
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_ '1•- • :i! ~ ( ~-~~{---l~l~~ 1f 1-=~Iji'~' t~i- - 11,5'1--timouni Finariced~l~! _'~l~~~ ~ 1, ~ ~'t ~ it=
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. . . • IHI_Intarest•-'•.,~ • •'S•
~i:--~.' "1's'-- tit~-=~1~1---!~1~= 1~1--1;1~_~f~i~=i~l~~~ili~; ; ~ = e~ Ili^--4~.t -'1~1'.=•; -
c~~AC '•'Jerisen'Beach, - - - - _ •1'U _~~ea~i, ~wsu t~op s-"• _
E: ~ ;FIOR)OA ~~f U~ t,iMl~~.= ij{--1i1:~~ ~i- _ :f~ = i~~~.
~ , ~ - _ _ _ _ :1J)~Ot1?e._ - •
Fo. value rece~ved,-ihe~ur?de~signed ihereinatter called~•.Make~7) io~ritly and.iewralt~.(it:}'•._ i~e,~~itii~~~r;..y.:,~
more than onel,p~omiu to pay to the order of the Bank at its office liited abov~„~heToul' !~~Kf - 'S' _ _ _
. . , ~ `e
ofPayments(trom,(M.ltriahtl0f~;30~9BO.4n - =Dolisripajrablein:_L21L:!~t- ~i~'l1-'•'--'"'•-'~'--'''_':S'-- ' _
ev~a? montn~y_ ~ostaumems'ot s ^ '~,2g$ '~.~i" ~ t - e _
- t~ie~iiit~ 1 '.IMI J
11NANCE CHARGE~;;: -~1 ~t~l l 433:, • ,
' . , . . _ _ , ~ i, x~ ti1. . s , :90'-
~ ~ns~allment due on Mav ~16~~ 't19 ` _.`and w~sequent instsllments due oo ~i~ - i i~' ^ - -
' . ~ •'tNl-Totstoip~yrnenfs~G.t.M):•S•--3n 9f~n_Q[~~' '
~ne 16 day ot escti montji theresfter;
to9ethei vi/itAi F,INAL'~ALLOON PAYMENT OF:•'=•' ~ ~ ' -
NONE~ . ~ANNUAL~PERCEN7AGE RATE -o,qci
5= =t'.pU~~»: f:?~:1lj- -!:'~--~1~!~ - ~ - 19 " ~i,i , - _ _ ~ - _ . _ . _ _ . - _
. - _•~~_-._•.~,~.~=•-=f~~~M•~~t `~~~I~~'5~~~'~~ =~=1.~'!~''
'lii-^".=~1~' S~i---i;:-= 4~1 .':''.~:"-It~ = !~1-'.~;'_ j•: _ ! -=i;'
-~TAe Bapk~shall impose e delinpuenc~Tcharge against.~q;INake:
on any-peyment which?has becoms•due and rempi~s irt~efauli o~ a p~riod in ezceis of_ 10 _
' days ~n an amount equel to.596~ 01 tFie sm'ount o~f ifie~pi~nc~psl.part.of the payment in'defaulj: ln the event th@t~the.7 ofe not ps~lo ruiia~ ~,;aiu~~y, ailpay-~•~i,•
ments, whetAer principal, interesi oi otheiwise; s~iill be~i interest at4he maximum legal,~eie sllowed under=lhe,~'swi~dit6e5tate b~.Fi-or`ida: All paymenti made
nereunder shall be credited firtt to.~nterest;nd tht~ito printipel,~howeyer,ln;lhe
event_oi'detauh,'the BanTc r»j~y;
in~ti~sole ifiscre~ion,~pply.ariy payment to,'
,nte~est, principal and/orlawfu~ chargei then acuued.lt is the intention~~vl:theparcies~ereto fhat.theprovi3ionshereinsliall notp!ovida diieetty_o? indi~ecUy~-~~~,~
tor the payme~t of a greater rate of inierest or.the retention oi any oihe~ ihar'ge~
tlian is~s~bwed bY iew:Ji~~oi any~ reaspi~; interest in excess of wch legal rate or '
a charge prohibited by law shall st any time be pa~d; eny iuch ezceSi i1ia11~e~t6ei~cont~~tute end be ~ieated es a p~ayment oR the pnncipst o~ ec ~
~otheMaker~= - - -S~~ =..~~t._._~~~_.._~~l~~~t ~ __..~i _4 _ bere'undeddu tly..
f ~ i ~ _...5~. ~ S.~~iS {;i ~ ~ ;r~ _
TAe Maker'ma , 'r ay ihe enlire unpaid balance oi h .1~ - Y y • • ~'•r. ~•-.~t . t{i -•^•-.y ~ . .-~i.~'. ' ~ . _
y p ep t e oan ai~an 'tiine ~it•e7,pa~ u~te id ~rt~u'll, attelerated~oi. retinan ~ he Mak r~ r 1~ ~
b_ ~i W. Pa ced, t e•sAall ~rettive s''."- .
refund oi ihe unea.oed ponion ot the interest and insurance premiums compuied'by,tKe`.Rule of 78's metAai; except that che 8ank'shall beentitled to retain
e m~nimum interest charge of $~.OO. . , " ~ • _ ~;Ti'_' .t}~_._~~tr i j 1 ~ii~!.i:.:~=:r.::~(~ ~L!'N'TNY jA[T j'~~ ~ :1~ '
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~~CREDIT L1FE AND CREDIT-LIFE d~ OISABILlTY lNSURANCE ARE.1%OLUNTARY,AND NOT REQUIRED'FOR CRED1T=Such insuisnce coverage is
_ . . - ~ ?~'-`s~: ' . t;t = =~i•, _ -
ava~table at the cost designated below fpi the teim of the credit: 1a1 S_ 5OO. (Hl ~for CrecliYLi~e'Inwrs~ce'(b) S =
for Cr~dit Lite & Disabibty.lnsurance_ - - - - ; - - ;r: _ _ _ - - - _ -
Cneck ~ •C~ei1~t lite lnsu!ance is desired ~on tFie life o1, - ' ' - Stanl e! ~D: .Trahan ' - t - ~
APP~. . _ . • _ ~c: ~ii - - • - ' Birthdat@ . _ - - - - ~
B~x Credi~`liie di Disatiility_fnsurence'is de'sired
on . ' - " . " ~ - - ' . _ - _ _ - ~ -
_ ~ :~r~,....o. =`~i'--1:3--'-~' _ ' = ' " I _ - • -
- ~t !
-n Credit Lite andlo? Disability.insurenceis not,de;irsd_:i i1: •;1 i~ _ _ - - = ' ' _ _ - '
- ~ ~ --i(•_ ~~!_~'~!!'~.:~i! ~•'i!- ~i~' =lt~ -;t -=•ij'• ~ ~ -
Date _AT
ri 1 1 fl~~ --1 q7R ' . . - - Signatuie ~ - ~ . ' _ - - -
- - _ _ ' _-~i~ _ '$t E~/~D._'Siahan=~~{~ ~=Ij•--iii- =ti1--~i'-_•f. _ _
. _ • ' _•;t: - - - - -S~gnature ~ ~ - - :9,'='~s:_ - • "
04 p PwtY: ; : . ; • ~ ; t
As security for the payment of the Note the Maker he?eby.grants to tl~e k a secuiity interett in the followi ro ' ~ i'' - -
_ Lot #438 Sec. ~ II, QUTDOOR~ RESORTS OF AMER. CA as des~rib~d -in saicl -mor+oagP '=i,4~,
a-,~~,~~~
_ 38' Park Model, Travel •?railer, - Ser.#1064. ' - - ~ - ~ - - ~ -
~nciud~ng all ~ncreases, subs~imcions, replacemenu; addltiorts and accessioni there~o-arid in.the p!oceeds thereof (he~einsfte~ called "Collateral'9: 7hissecurity
~nterest shall also secure any other indebtedness or liability ~of, the-Maker-to:the Bank direcl or indir~ct,;absolute.o%tontingerrt, due or~to become due, now ex-
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+s ~ ~ ng o. bereafter arising, ~nc~ud~ng all furure advances oi loans by tfie Bank •to the Make?. ~ ; ~ t ~ - _ ? i t~
~ 1; : _ . ~ ' ~ + : , = . - -
The Bank is also given a lien and a setu~?ty interest in all proper[y and seturities ot'the Maker, endorser, surety, gus~antor or actOmmodetion party of this _
No?e (he~e~nafte? re~erred to as 1he "Obligori now in orat any time bereaita coming into the cont~ol, custody or`posussion o~ the Bank, whether tor the ex• -
p•essed purpose of be~ng used py the Bank as Collateret, w•tor any other purpose, and vpon any balance o. bala~tes to the credit oi any accounts, including
c•usr and agency accounu mainta~ned w~ththe Ba~k bY any of the Obligors, and the Obligors egree to deliver to the Bank add~tional Collateral or make such
p,~~ ments in reduction of the pr~ncipal amount oi the loan as shall be saUStactory to the Bank, in the event the atorementioned Collateral shalt decline in value
o~ become unsatisixtory to the Bank. - ~ - - _ " ' - - _
Additio~s to, reductioni or exchanges ot, or substitutions for the Collateral, payments o~ account of this loan or rnaeases ot the same, w other loans made _
pa~eially w wholly uponthe Coltatera~, may ~rom time to tirt?e be made without affecting the provisions ot this Note. The Bankshatl ezercise reasonable care in
~ne custody and preurvation of the Collateral to the exte~t required by applicable statute, and s1~al! be deemed to have exercised reasonabte care if it takes wch
acc~o~ for that purpose as Maker sfiatl reasonably request in writing, but no omiss~ore todo any act noi iequested by Maker shall be deemed a failure to exercise
reaconable care, and no omission.to comply with aqy request of Nlaker shall of itself be deemed a faiture to exercise reasonable care. Baok shaN not be bound to
take any steps neceuary_to preserve any "rights-~n tbe'Collsteral agamst prior.parties arid Maker shaU take all necessa~y steps for wcA purposes. The $ank d its .
nom~nee need not collect~interest oq, or a principat of, any CoHateral nrgive.any notiee witfi respect to.it - ~ _ ~
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The Bank may continue to hofd any Collau~sl~deposited hereunder:8/te~ tFis payment ot this Note,Nf at the time of tFie paymeni arid discharge hereof any ot
i he parties I~able for the payment hereoi shall be tben directly or conti~gentty liablrto the Ba~k as Maker; endorser;~surety, guarantor or accommodation party ~
o! any otha nou, drafc, bitt oi exd»nge, o~ other instrument, o~ otherwiu, end .the Bank msy thereeife. exer~cise atl rights with raspeet to saiQ CoUate~st
y~ anced herein even though chis Note shalt ha~re beee wrrendered to the Msker:';: ' ; ; . ~ - . , - - • . . _
If che Bank deems itself irisecure or upon the hsppening of arry ol.tF~e following events, each of which shall constitute a default,all liabilitia of each Maker to
che Bank, lncluding the entire unpaid princiaal oi this Note snd_accrued interest,less any.unearned ioterest eod anY interes[ in ezcess of th~ mazimum allowed '
by iaw and any rebaies required by law, shetl immediately or chereafter, at the option of the Bank, except thai the occurrence ot a 1d) shall tsuse sutomst
~c acceleration; without ~oeice or demant}, beoor~etfue and payabie:le) !be feilure of eny ~bligo~ to perfwm ar~obtigafion, liability or claim to the Bank, to pay
intere~t he~EW~ witA~n 10dsys atter it is due, or if there a no due date; afteiit is~bitled o. otherwise requated or tfemanded; or to pay any other"liabiffy what- ~
K~ever to [he 8ank when due; (bl the desth of any individual Obligor, che dissolution ~of anjr pucnership Obiigor•a2he disso~ucion, meryer a ovnsolidstion wit~
oue the Bank's priw rwitcen consent of any corporate OWigo?; (c) ths-filing oi s petition in bank~uptcy or the ed~udication of insolvency Dr banknrptcy under
any reorganization, arrangement, ?~ustrnent of debt, dissolution, tiquidation or'similai proceedinp under.amr Feder~l or state statute;by or.~yainst any _
Obi~go.;1d1 an appliption for the appointment of ~?~oeiver for, a the making of a general auignment for the benefit af creditors by, any OWigw; ~el tl~e entry
ei judgment against arty ~bligor; (t! tf+e itwing oi any sttachment w garnishment,.or the f iliny ot sny lien- apaiiist any property of any OWigor: l~l_th! tskipp of
possession of sny wbscanrial part ot the propaty of aM% Oblipor st the i~star~ce of any yovernmentel authority; (h! the cfeurmination by the Baok that a m~teri-
al adverse change hss ocwrred in the'tinancial condifion o~ anY Obligor irom the conditions set torth in the most recent tinancial statement oj wch Obliyor';:
heretofwe furnished to the Bank, o? f~om the c~tion of wch Obl~gor as heietotore mast recently disdoted to the Bank, or that any wsrranty,-represenation,•
certiticate a ststert~nt o~ a~y Obligor (whether contsined inYhis Note or not) Dertsining io or-in connection w+t1~ this Note or the loan evidenced by this Note
conca~ru an untrue statement o1 matoial fatt p omitc to sute mat~riat fstt necessary in wder to'make the ctatertients msde noi maleadirg; or; 1d ihe a~9rt- '
ment by aey AAaker of any eQuiry in sny of the Coltstenl witAout 1M prio~ rvrit[e~ consent af the Bank. - - _ -
. - • - - . . . _ . ~ • . . _ . ~ . ~ . _ .
The Bank absp have, but' shall not b~ lirrwted to, the fotlowiny riyhts, esch ot which may be exercised.st any time wAether or_oot tAic Noti is dw: (il to : '
p~edgs w transt~r this Note and the Cotlstersl end the Bsnk shsU the~eupon be rel~eved of sll duties and respontibilities fiereunde~ and rel~eved irom uiy and sll ~
i ~ability with respett to any Collat~rat sq ptedgsd or trsnsierred, snd eny pledget pr transfe~ee shal! toral! purposss stand in the plac! of th! Bank hereur~de~ and
hava sll tM ri~ts oi the Bank hereunder; lii) )o t~ansfer the whole or any psrt Ot the Collaterat into ihe name o/ itsel( o? its nominet; (iii~ to wte the Collaterst;
I~v) to i?otify the Obl~gws oi any Coltateral to make payme~t to the Bank ai ~ny_art~ounss du~ or to become due therson; (v) to demsnd, sue iw, cdlect, or
make,~ny compromise or sett(ement it deems desirable with~referencs co the Collateral; and (vi) to rake possession or oontrol of ~~+y proceeds ot Collstersl.
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, , NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION M ' - `
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; F85 752 Rev 7~77 • . _ ~ - , ' .
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