HomeMy WebLinkAbout0494 INSTALLMENT PROMISSORY NOTE
JENSEN BEACH BANK , `t in~ ~,,,~,,,,1 a.~.;,,.d = 2, 25~. 00
~ BANK NAME _ . (9) Prfmium fOr Crbit N~t ,
' lif~/(~s~b~litY Ins. S
19a9 N. E. Conunercisl Str~et, J i~ ~i ~eac6. FL s~.~,w• s •
' OFFICE AO~RE ~ (D) OthN Chirq~s (it~miz~) _ ~ne i
~
14 JUNE 78 one
NOTE NO. • DATEO: - . 19-• (F) s~ ~
16 JUN~ 83 ~c~ A
e c Fo
E~ = 2, 253. 4S ;
DU E: . 19__ .
(H! Int~rqt = • i
PLACE: JEI~ISFrN BFiACH , FLORIOA c.w'~ i"".~?'9"'°" r • `
IJl OtM. t
Fo. vslw nq~wd. the undersiynsd Ih~r~inaf tK ull~d "Mak~r") lointly s~d s~v~rally lif ~K) = one '
more tMn orn) promis~ to psY to the~~~~ Q~k, +t its o(fiq liited above, tl?~TOt~I OIIe 1
t
or Paymsnts ftrom fN? at riyhtl o • • vv Do~~ar: p~vsbl~ in ILI S ;
equal mo~tMy insqllmentsP~t ' IM) FINANCE CHARGE 6]2• ij ~
, ths tint lH, 1, J, K, l) S ~
~nstall~~t due on , 19_, and wbsequent installments dw on ~ • '
IN) Toul of Paymenn IG + MI :
~he 1 daY ol sath month tM(~atter. ~o9scher witt~,F~NA~ eA~LOON PAVMeN7 OF: ANNUAL PERCENTAGE RATE ' % `
S -IQalle DUE 1V/A , 19 _
The 8ank shall impose a deli~puency charge sgainst tM Mstce~~n sny psYment which hss b~carn du~ and remai~?s in defsult ta a paiod in ~xpss oi 10 ~
days in an smount equsl to 59(~ ot the artwunt_of tM principsl part of the psymen! in d~fault. In th~ ~vent thst the Not~ is not psid in tull at rryturity, sll psy
men~s, whether principal, interest or otAerwiss, shsll bear i~cerest at tM rt+azimum legal rate sllowed under cM I~ws of the Stste of Florids. All psyments mad~
hereunder s~wll be c~edited lirst to interest and theo to pri~tipsl, however, in the event oi default, the Bartk msy, i~ its sole difttetion, apply snY WYment to
~n!er2tt, p?incipal a~d/w lawiu! charges ~the~ accruad. It is the intention of the psrt~es hereto that the provisions herein shall not p'rovide dir~ctly or indirectly
tor the payment oi a grea~er rate of interesc w the retention ol a~y ocher charge chan is allowad by Iaw. tt, ior any reaso~, ~nterat in exoess of wch lepal rate a
a charge prohibited by law shall at any time be psid, sny wch excess s~sll either constitu~e and be treated as a paymen! on the principal a be refun~kd directly
to Ihe Maker.
TAe Maker maY Prepay the entire unpa~d batance o1 the loan at any time. Ii the loan is prepaid in tull, accele~a[ed w retinanced, the Maker shsll receive s
~elund of ihe unea~ned pwt~on of the ~nterest and inwrance premiums rnmputed by the Ru~e of 78's method, excep~ that tM 8ank shalt be e~titled to retain
a minirtwm intertst ClWtge ot ~J•~•
CREDIT IIFE AND CREDIT IIFE d~ OISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREDIT. Suth inwrante coverage is
ava~lable at the cost desig~wted below tor the term of the credit: (e) S for Credit LiJe I~wrance (bi S
for Cradit Lite St Disabiliri Inwrantec ~
, `
Cneck ? Credit Lite Insurance is des~red o~ the I~fe ot -
qpp~ ~ Birlhdate
Rox ? Credit Life & Disabiliiy Inswante is des~red on
~ Birthdate
~ Gedit Life andlor Disability lnwre~ce is not des~red.
Date: 14 JUNE 19T8 s~gnaiure X
Sig~ature ~
As security tw the payment of the Plote the,Makp,~,
_:Cy_ cypnts~o~he Ban~~sQcyOiy_1n`tesr~te~in the followirg prope~ty:
ws i~e rioe in tis M rz
~nctuding all intreaset, substitutions, replacements, add~tions a~d atttuions thereto a~d in the p~oteeds thereof (hereinafter called "Collateral"1. This seCUrity
I'i ~nterest shall also secure any othe~ indebtedrxss w liability of the Maker to the Bank direct or indirect, abaotute or contirw~ent, due a to bec~rne due, now ex-
~ ~s~~ng w he?eatter ari:ing, including all future advancas a Ioans by ihe Ba~k to the Maker. ~
~ Ths Bank is also giren a lien and a security interat in all property and secunties ot the Maker; endorser, wraty, guaranto~ or accommodation pa~ty of this
Note (hsreinafter rafss:ed to as the "Obl~gors'1, now o. at aoy time herwRer coming into the control, custody or posseuion ot ehe Bank, whether for che ex-
pressad pu~pose oi being used t~y the Bank as Collsteral, a for a~Y otAer purpose. and uPon any balance or bala~ces to the credit of s~y accounts. including
~ t~ust and ag~~ney accounts maintained withthe Bank by aoy of the Obtpors, and the Oblgors agree to dehve~ to the Bank add~tional Collateral or make such
~ payments in reductio~ ot the p?i~cipal amount of the loan aS shall be satistactory [o the 8ank, in the eve~t the aforementio~ed Collateral shall decline in vaiue
or become ur?satisfactory to the Bank.
Additions to, reductions or exchanges of, or wbstitutions tor the Collateral, payments on account of Mis loan or increases of she same, w othn loans msde
part~ally w wholly upon the Collateral, may irom time to time be made wi[hout affecting the provisions of this Note. The Bankshall ezercise reasonable care in
rhe custody and p.eservation ot the Collateral to the extent .equired by spplicable statyte~, and shall be deemed to have exerci:ed reasonabte wre if it takes such
acc~on for that purpose as Make~ shall ressonablY ?~Quest ~n writirg, but no om~ssion to do any sct oot requested by Maker shall be deemed a failuro co exercise
reaso~able care, and no om~uion to comply with amr request of Maker shall of itself be deemed a failuro to ezercise reasonable wre. Bank shall npt be bound to
take any steps nsceaary to preserve any n~ts in the Collaterst against pria parties and Maker sha~t take all necessary steps fo~ wch purposes_ The Bank or•its
nominee need not collect interat on, a a principsl of, sny Collateral or grve any ~otica with respect co it.
The Bank may continue to hotd a~y Collat~rsl deposited hereunder atte~ the payir~ent oi this Note, if at the time of tF~e payment and disd~arge here~l any of
the pa~ties liable iw the paymsnt hereot shall be then direcily or contingendy lisble tQ the Bank as Maker, endo~sar, wrety, guaranta o~ aocommodation party
of a~y other rate, draft, bill of exc~ange, o? other instrument, w otherwise, and the Bank may thereafter exercise all rights with respect to said•Collateral
granted herein even though this Note shall hsve been wrrendered to tl~e NWker_
If the Bank dsems itseli insecure or upon the happening of sny of the following events, each oi which sha~l consc~tute a default, a11 liabilities of esch Maker to
ehe Bank, includi~g the ~ntire unpaid principal of this Note and accrued inarest,less any unearn~d ieterest and any intenst in excess ot the maximum altowad
by Iaw and a~y rebates requi~ed by Isw, sfwll immsdistely or thereatt~r, at the option of the Bank, except thst the occurrence of (c) or (d) sfiall cawe iutomat-
~r acceleration;without notice ordert~and, bscortMdue snd psysble: (a) the failure of airy/ Obligor to prtorm any obli9stion, liability o? daim to the Bank, to pay
~nterest hereon within 1~days after it is due, or ii there is no due date, aiter it is billed or otfierwise requested or dema~ded, or to pay any other liability what-
~ soever to the Bank when due; (b) tM desth oi amr individust Oblgw, tlte dissdution of sny psrtnershlp ~~gc~r or ths d~ssolution, meryer or oonsolidation with-
; ou[ the Bank's pria writte~ ca?sent of any co?porate Oblipor; (c) the filing of a petition in bankruptcY or the adjudication of insolvency or bankruptcy unde~ ;
~ any reo~gsnizstion, arraryement, resdjustrnent of debt, dissolutio~, Ipuidation w simitar procpding under ar?y Fedenl or tWte statute, by or against any
~ Ob~igor: (dl an applitstion for th~ appointrt~tnt of a rsoaive? fo?, or the rt?akin9 ot a ger?e?al assignment for the benetit oi creditws by, any Obligor; the entry
of jucfyrtient agsinst sny Oblipw; (f) the awirg of sny sttschment o. qunishment, w the filirg oi arry lien, syai~st any p?operty of any Obligor; (y1 tMe taking of - ~
~ possassio~ of any wbscantial pa?t of th~ property of sm/ Oblgor si the insunce of any governmental authaity: (h) the dete~minstion by the Bank that s materi-
al adverse thangs hss octurrld in the tinentiil tondition of any Obliga (rom the tonditions set twth in the most retent finantisl statement of wCh OWigor
~ heretofo~~ fumished to the Bank, or irom the condition of weh Obligor es hereto(ae most recs~tly disdosed to ihe Bank, o? that any wananty. reprasMqtion,
~ certiticat~ w statem~nt oi a~y Obtgor (whethu coritained in this Note w not) pertsinin9 to or in connect'a~ wich this Note or the ~oa~ evidenud bY this Note
~ contairn en untrus statement of materisl fect w omia to sute rrwterial fsct necessary in ordsr to make the saterrxnts msde not misladirq: o~, (i) the auiyn-
- ment by smr Mslce. Of airy equity in sny af tM Collateral without tha prior vwitte~ Consent oi tM Bsnk.
Tht Bsnk shall h~ve, but shall not be limit~d to, tM fdlowinp r.phn, esch of which msy be ezercissd at any cime whether or not this Nots is due: (i) to i
ptetlg~ o? t~~~afK thi~ Note snd tM Collaesral and tM B~ok shsll thereupo~ be relieved ot sll duties and retponsibilities hereundtr a~d rNievsd from any snd ~II
I~ability with respsct to uiy Collat~ral so pledy~d or t?ansterr~d, s~d ~ny pledyse or [ransfer~ shall to~ sll purposes stsrxi in tAs plsoe of th~ Bsnk Mrwnda~ and
hzve sll tM rpfiu oi tM Bs~k hereundsr; f i~ to tnnsiK t1N viAwle w any part oi the Collet~rsl into th~ name of itself or its ~oroinN; (iii~ to vote the Collatsral;
(~v) to notify y~-Obliyas o~ any.Cellatenl to msk~ paym~nt to th~ Bank of sny smounu due or to become due ihereo~; Iv) to we ~o~, collect, w
mak~ any comprdnis~ a nttlMMnt it dKms d~siwbb with retK~np to the Collateral; snd (vi) to tsk~ possession oc,connol o(~sny~oa~ds of Collstenl.
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~ ' NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION ~Q ~
~ Fes ~s2 ae,,. ~i~~ ~ BGOK~..V~ PAGE
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