HomeMy WebLinkAbout0676 ~ INSTALLMENT PROMISSORY NOTE
~M
~ ~'1~425, 76
~M M~ IA) Amount Rec~~wd S
.
~ . QANK NAME 18) Prtmium fo~ C~ed~t ~,~0 M
• Lif~/O~fab~l~ty tni. j •w
1~~ CiO~Kr~~ st,~ ~.~~t1~ ~i6~1~ A. ~~4.~7 ICI Oocum~ntary Stamps S
OFFICE AODitE55 (0) OthN CMryK (ittm~I~l Z
IE! i
NOTE NO. ~ I 1 pATE~: ^~'~~i u~ , 19~ . (FI S
sii mount ina~?Ced
DUE: ~ . lg~ . (A, 8. C. E, F) s~~~i'~
_ ~H~ i~~...~t~ :IQ.l'!~'.1.6a
?LACE: ,~s~ ~~n~ , FLOHIDA Cr~dit Inwstigauon S
UI OtMr S
~or vstw ret~iwd, tM undtrs~yaed lhtr~im(ttr calNd"Maker") jointly and sewratly 1if (KI S
inor~ ihin oM) P~~u to paY to th!
old~[Qf t~nk, at in offrq I~s~ed above, ihe~ pl
~f PsYm~nts (from (N) st right) o} '~~y~~ Uoltus pavable ILI S
lMl FINANCE CHARGE
eyual monthty installma~ta of S ~ ~ . the (hst (H, 1, J. K, L) • 510~~•6Z
~nstallmem due o~f ~ u~ , 19_, and wbsequem instaltments due on (N) Toul ot Payments (G + M) 5~~9~•~
~ne ~ day ot eatn mo~th thereatter, together with a F~NAt BALIOON PAYMENT OF: ANNUAL PERCENTAGE RATE 9•~ %
g ~ UUE . 19
The 8ank shalt ~mpose a delinquency cAa~ge a9a~nst the Make+ on sny paYment wh~ch has becwrne due and .ema~ns in defsult ta a period in axcKS of lO .
days i~ an amount equal to 59L of the smount ot the prinupal part ot the payment in default. 1~ the event that the Note is not paid in tull at+naturity, all pay-
men[s, wheths~ principal, i~tereii or otherwise, :hall bear interest at ihe maximum Iegal rate allowed u~de. the laws ot the State ot Florida. All psyments mad~
nereut~der shall be credited fi~st to interest a~d tAe~ to printipal, however, in tAe event ot de(ault, the Bsnk may, in its sole distretion, spply any psyrtle~t to
~nterett, pnnapal ahd/or ~awlut charges then accrued. It is the ~~tention ol the ps.ues hereto that the provisions he~ei~ shsll not provide directly or indirectly
tor the paYment ot a greater r~te of ~nterest u~ [he rotenuon of any othe. charge than ~s allowed by iaw. It, for any reaso~. interest in axceu oi wch legal r~te a
a charge prohibited Dy law sAafl at any ume be paid, any suth extess sha11 either tonsutute and be treated es a p2yme~t on the principsl or be retunded direCtly
tu the N12klr. _
The Maker may prepay the enUr! unpa~d balance ot the loan at any t~me. If the loan ~s prepaid m tull, accelerated or refinanced, the Maker shsll rective s
~efund of the unear~ed portion of the ~nte.est and ~nwra~?ce prem~ums computed by the Rule of 78's method, except [hat the Bank shall be e~titled to retain
~ m~nimum intlrest tharge of ~.(b. . ~ -
CREUIT LIFE AND CREDIT LIFE b OISAA~LITY INSURANCE ARE VOLwU.N,TARY ANO NOT REUUIRED FOR CHEOIT. Such inwrance coverage is
avallabk at the cost des~gnated below for the term of the credu: la) S i ~~Q~W [w Gedit Life Inwrance (b) S
ror Cradit life 8 Qisab~~rtY ~~wrance:
Cneck ~ Ge~d~~ty
L~ife nI~~sura`nce is desired on tht life of
.1ppl. ~~~`~~W i~s ~ ~s~~~• - B~rthdate ~ 1 ~
Box ? Gedit Life 8 Oisability Insu.ar+ce is des~red on
B~r thddte
? Credit L~te and/o~ Oisab~l~ty Inwrancs is not des~~ed. , , '
Date AA=~1 ?lt, 19T9 s~~+a?~.e
~ ~ - 11riD 11 -
- 1 8~~ 9 S~gnature
As securi[y for the Yment o~ ~he Note the Make. hereby ants to ttx Bank a security interest in the following property: ~~il~
r~sarts of aws~ca•as dsscsib~d in s~ai~d wo 19~7 Kouot Ais~ 3S' P Md1.Tr1.I.D. 3~f7~/7~
ictcl.- w scs~wi roa~ ~k'fx30 1977 Suick I .D. i~.Y~~sel~
~nctuding all iotresses, substitutions, replsCementf, additrons end attessions thereto and in the protteth thereoi (hereinafter Wlkd "Collateral"1. Thif seGUity
i ~ncerest sha11 also secure any other it?debtedness o~ (iability of tF?e 1+~dkN to the 8ank d~rect or ind~rect, absolu[e or con~~rw,~ent, due or to becane due, now ex-
j ~si~ng or herealter arising, inctuding all (uture advances o~ loans by the Bank to the Maka.
f
4 TMe 8ank is alto given a lien and a secu~ity mterest ~n all prope~ly and seturit~es of the Maker, endorser, wrety, guarantor or atcommodation party of'this
? Noce (hert~nsfter referred to as ~he '"Oblgors 7, now in w at any t~me hereafter com~ng mto the tontrd, cus~ody or pouessio~ of the Bank, whethd iw the ax-
~ oreued purpwe of being used by the 8ank as Collateral, w to? anv other purpose, arxl upon any balance or balances to the credit oi a~y accounts, ineludi~g
4 irust and age~cy sccou~ts maintained Nnththe Bank by any oi the Obl~gors, and the Ob~gws ag~ee to delrver to the Bank additiona~ Collateral w make sueh
p3yments in reduction oi the prlncipal amount of the ioan as shall be sansfactory to the Bank, m the event the afo.ementioned Collateral shall decline in value
:x become urKatisfxtory to the Bank. -
Additions to, reduc~ions or exchanges of, o~ wbstitutions for the Collate~al, Dayments on account of this IoaR or increasrs of tAe same, or other loans made
pa~[~ally or wholly upon the Collateral, may from time to time be rtiade v~nthout affecting the provisions of this Note. The Bankshatl exercise reasonable care in
~he custody a~d prese*vation of the Col?ateral to the extent ~equ~red by applicable statute, and shall be deemed to have exercised reasonable ca~e if it takes such _
act~on for that pu~pose as N~aker shatt ~easonably requat ~n vv~iting, but no omissian co do any att rwt requated by hlaker sha1~ be deemed a failure to exerciss
~easonable care, and ~a omission to rnmply v~ntfi arry request ot Maker snall of itse~t be deemed a fa~lure to exercise reasonable care. Bank shall not be bour~d to ~
take any steps netesssry to preterve any rights in the Collateral agannt prior parues and Maker shall take all necessary steps fw uicl? purposes. The Bank or its
nom~nee need ~ot co!lect interest on, w a p~incipal of, sny Coilateral or give any notice with respect to it.
The Ba~k may cont~nue to hold any Co~tateral cfeposited hereunder atter the payment of this Noce, if at the lime of the payment and discharqe i?ereof a~y of
~he partia ~wbk tw the payment hereof shaH be then directly or contingently tiable to the Bank as Maker, endorser, wrety, guarantw or accommodation parry
of a~y o~he~ note, draft, bill of exchange, w other instrument, w othe?w~se, and the Bank may therea~ter exerc~se alt rights with cespect to said Collateral
granted he~ein even though this Note sha~l have been wrrendered to tMe Maker_
1f the Bat~k dcetrn itseli insecure or"upa~ the happeni~g of aoy of the tollowirg events, exh ot whitA shall constitute a default, a11 liabilities ot eath Maker to
~ the Bank, inCluding IAe e~tira unpaid prirKipal of this Note and accrued inte?est, lesf any unearned interest and anY interest i~ exCeu ot the m2ximum allovved .
by law and any rebates required by taw, si?all irtrnedistely or thereatter, at the option at the Bank, except ihat the occurrence of (c) o~ (d) shall cause sutomat-
~c acceterauon; withdut notice or demand, becomedue and payable: la) the failure of any Obligoc to pertwm am obligation, liability or daim to the Bank, to pay ~
~nterest he~eon within lOdays atte. it~is due, w if there is no due date, after it is billed or otherwise.equested or dertWnded, or to pay any other liability what-
soever to the Bank whe~ due; (bl the death of a~y individusl Obligor, the diuolution ot any pertnership Obligor Or the dissolution, merger w tonsOlidetiot~ with-
~ out the Bank's pnor written consent o( a~y corpwate Obtigor; (c) the filing oi a petit~on in bankruptcy w the adjudiwtion of insolvency o? bankruptcy unde~
any reorganizatio~, arrangement, readjustment of debt, disfolution, Iquidation or similar proceeding unde~ any Federal or state statute, by or against sny
~ ~bi~gw; (d) a~ apptication to~ the appointment ot a receive~ fo?, a the maki~g of a 9eneral auicyureent for the benefit of credi[as by, any Obligor; (e) the entry
~ of juclgrnent against a~tl Obligor; (t) the itwing oi sny attachment w yarnishrr~er?t, or the f~ling of a+ry lie~, against any property of any OWigor; (g) the tskiry of ~
pozsession oi aay wbsUntial pa?t of the property of any Obli~or st the i~star~ce of any 9overnmencal authwity: (hl the determi~ation by thb Bank that a materi-
al advecse chanye has otcurred in the ti~antial tond~tion of any Oblgw (rom the conditions set forth in the most recent financial statement oi such Obliga '
~ he.etofore fumisAed to the Bank, or from the condition oi wch Obtgcu as 1~ereto(o.e most recentiy disdosnd to the Ba~k, w that any warraoty, representatioo,
cert~ficate w statement of any Obligw (whetha. co~tained in this Note w not) pertainirg to ar i~ connection with this Note or the toan evEdenced by this Note
contairu an untrue stateme~t of mataial tatt w omits to state mataisl fatt necessary in wder to make the sWtements ~wde not misleaditg: or, !il the assign-
ment by sny Msker of arry equity in any of the Cotiateral without the prior nwitten consent oi the 8ank.
~ The Bank shall have, but sha11 not be lim+tsd to, the followiny rights, eac1~ of whid+ may ba ezercised at any time whe:her w not this Note is due: !i) to ~
ptedgs or transter this Note a~d tM Collateral snd the Bsnk shsll thereupon be relieved of all duties and responsibilities hereunder and ralieved from any ae~d all
I~ability wiM re~pett to any Collat~ral so plsdged or traruferred, and any pleclqae or transferee shall tor all purposes stand in the plaoe oi the BanY, hereunder a~d
have all the ri¢~t: of the Bank hereunder; (ii) to trsnsip the whole o. any part ot the Collsteral into the name of itselt w its ~ominee; (iii) to vote the Collateral;
1rv) to no:ify the Oblyws of any Collate~al to mske payment to the Bsnk of any amounts due or to becorne due thereon; (v) to dertiand, sue for, collect, w
make sny compromise w settlement it dsems dssi?sb~e with reterenq to the Collate.al: and (vi) to take posseuion or control ot sny proneds of Coltateral.
~ ; ~ e~oK289 PAGE 6?3 ~
..MOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION
FBS 752 Rev 7/77
" ~s ~~~-r'~ ~ - ~ y~'~' ,
. RF .-„s' E'-`~wr."~',.5'c7~ "V'~.. ~
..~.~~~';-F g .
- ~:t}.;;:,t:7
~ 'L:
_