Loading...
HomeMy WebLinkAbout0299 INSTALLMENT PROMISSORY NOTE ~ Jsns~n !lsach Sank iA~ Amount Rece~ved s 9•~•~ BANK NAME (B) P~emwm lor Creclit L~(elD~sab~lrty I~s. S 1939 CowMni~l St. J~nse~ Seach, Fl 33457 ~c~ Documentary Stamps s • OFF~CE AQORCSS (D) Other Charges Utem~re) S _ i , v ~ IEI S NOTE NO. OATED: ~ ~ ~ . ~978~ (F) S July 11, ~G~ ~A e~c.foaE~F? 59,018.90 DUE: • ~ ~ IHI Interest S Pl-ACE: '~lASM ~aC~1 , FLORIDA Credit Invesugauon S IJI Othe~ S For value recewed, the unders~gned (herc~n;,tter called "Maker°) ~oinUy and severally (~f (K) S n,ore ihan onel wom~se to pay to he order oi tha Bank, at ~ts othce hsted above, the Total . ~,t Payments (lrom (N) at r~ght) 0~12~~~•32 Dollars payable in ~ tL) S ~;iual r»oMhly ~nstauments ot S 1 IsVll FINANCE CHARGE 3~~8 d2 • , the f~rst (H, 1, J. K. L) S ~ • ~z~Ume~t due on AugUSt 11 ~ , 197$ , and subsequent mstaumenu due o~ ~NI Total of Payments IG + MI S ~ ~ ~he 1 day of each month therea~ter, ~c,geine. w~tn a Fin?A~ BA~~ooN PAVneENT oF: ANNUAL PERCENTAGE RATE ~ ~Xa S _ DUE . 19 Tne Bank shall ~mpose a de~~nquency charge aga~nst the Maker on any payment which has become due and remains ~n detault for a period in exceu oi lO ~,ys ~n an amoum equa~ to 5% of the amount o~ lhe pnnc~pal part of the payment m detautt. In the event that the Note ~s not paid in full at maturity, all pay- ~~r~is, whethe~ principal, interest or othervwse, shall bear interest at the max~mum legal rate allowed under the laws o( ihe State o( Flonda. All payments made ,~c••eunder shall be credrted first to mterest and then to principal, howeve~, in the event oi de(ault, the Bank may, in its sole discretion, apply any payment to ~!~~est, pr~nupal andlor tawtu~ charges then accrued. It is the ~nte~UOn o( the part~es hereto that the provii~ons he:ein shall not provide d~rectly or indirtttly ~he payment of a grea~er rate of interest or the ietent~on of any other charqe than is auowed by law. If, for any reason, m[erest in excess ot wch legal ra~e o? cnarge proh~brted by law shall at any ume be paid, a~y such excess shalt e~the~ consutute and be treated as a poy~•~~nt on the princ~pal or be refunded dir~cNy ~he MOker. The Maker may prepay the enure unpa~d Galance ot the ~oan at any t~me. If the loan ~s p~epaid ~n tull, accelerated or rel,nanced, the Make~ sha11 rece~ve a ~~;,nd of the unearoed porhor of the ~nterest and ~nsurance prem~ums computecl by the Rule ot 78's method, except that the Bank shall be enhtled to ~etain •.~~nimum intereSt charge of CREDIT UFE AND CRE~IT UFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIL Such msurance coverage is ~abte at the cost dez~gnated below tor ihe term of the credrt (a) S tor Cred~t Lrfe Insurence ipi 5 ~ Ged~t l~te & Oisabdny Insura~ce: r,e.~R L-j Credh L~fe Insurance n des~red on the hfe of Buthdate ;i • ri Credrt Lrte & O~Sdb~hlY ~~wran~e ~z c7esued on ~ ~ B~~ihdate LJ Credii L~~e a~dior p~sab~li[y Insu~ance is not des~~ed • 1 ;~,iP JU1~7. 1~1~~ S~gnature x~' - iCer~ne L J. : a:kins S~gnatwe ~s secw y ~ r e ~ of he Not the Maker hereby rancs to the Bar~k a secu+~ty ~nee~est [he follov+r~ng prope~~y. Lo~ g~~8utc~oat ~tesorts of l~rica, as d~~cribed in said ~nortgaqa i - ~ j _,ud~ng all ~ncreases, subsutuuons, ~eplaceme~ts, addrt~ons and access~ons the~eto and ~n the p~oceeds thereot (heremafter called "Collaterat"1. This secunty ` •~~~?st shall also secwe any other mdebtedness or liabdity of the Maker to the Bank d~rect or mAuect, atnolute or contingent, due or to become due, now ex- ; s~ nq or hereaiter ans~ng, inctudln9 a?I future advances or loans by the Bank ro the Make~. p ope y y, 9uarantor or accommoda:ion r ~ 7he Bank ~s also gwen a ~~en and a securiiY ~~te~est ~n all r rt and secunt~es o~ the Maker, endorser, suret pa ty ot ih~s ~ ti:ce (herei~afte~ re~e«ed to as the "Obllgors"1, now in o~ at any ume he~ea~ter com~ng ~n~o the control, custody or posseu~on oi che Ba~ic, whelhe. for the ex- i i essed purpose of be~ng used by the Bank as Co~Iateral, or (or any othe~ Rurpose, ar.d upon any balance or balances to the cred~t of any accounts, mcluding ! ~.~se and agency attoums ma~nta~ned withthe Bank by any of the Obligors, and the Obl~gors agree to dehve~ to the Bank addit~onat Collateral or make such ~ ~ menu in reduction of the pnnapal amount o~ the loan as shall be saUStactory to the Bank, m the event the aforementioned Collateral shatl decline in value ~ c~ecome unsat~sfactory to the Bank. ~ Addrt~onS to, reductiOns or exchanges oi, or substrtubons for the Collate.al, payments on account oI this Ioan or ~ntreases of the same, or other toans made s e11y or wholly upon the Collate~al, may from time to ume be made wrthou~ affect~ng the provisions of this Note. The Bank shall exer~~se reasonable care in i cus[ody and preservauon of che CoUateral to the extent requ~red by apphcable statute, and shall be deemed to have exerc+sed reasonable care if it takes such ,.t~on fW thet pu~posE as Maker shal! reasonably request m wrrting, but no om~ssion to do any act ~ot requested by Maker shall be deemed a failure to exe~t~se ~ ~„onable care, and no omiss~on to comply wrth any reyuest of Maker shall of itseH be deemed a faiture to exerase reaso~able care. Bank shall not be bound to ~ ,<e any steps necessary to preserve any nghts m ihe Collateral agamst pnor part~es and Maker shal! take all necessary steps for such purposes. The Bank or its ~ m~nee need not collect mterest on, or a pnncipal of, any Cullateral or gwe any not~ce with respect to ~t. ~ The Bank may conhnue to hold any Collateral deposhed hereunder a}ter the payment of this Note, i: a: the t~me of the payment and d~schargg hereof any oi ~ •~~e parues liable fo? the Day~nt hereof shall be then dirECdy or contingently I~able to the Bank as Maker, endorser, surety, gua~antor or accommodauon pa~ty a ;r any other note, d.aft, b~ll oi exchange, or othe? mstrument, or othe~w~se, anci the Bank may thereafter exerase all reghts w~[h respect to sa~d Collatera~ ~ _•an~ed he~e~n even though th~s Note shall have been surrendered to the Maker. , - ii the Bank deems ~tself ~nsecure or upo~ the happemng of any of the following events, each of wh~ch shall cons*.itute a default, all I~ab~i~i~es of each Maker to ~ +~,e Bank, mcluding the ent~re unpaid pr~nupal ot th~s Note and accrued ~nterest, Iess any unearned incerest and any in[erest in excess of the max~mum atlowed ~ r.v law and any rebates requ~red by law, shall immediately o. thereafter, at the opuon of the Bank, except that the occurrence of (c) or (d) shall cause automat- ~.,cceleration; w~thout notice or demand, become due and payable~ (a) the Iailure of any Obligor to perform any obl~gation, liability or claim to the Bank, to pay + ~~e~est hereon wrthin lOdays after it is due, or if there is no due date, after it is b~lled or otherwise requested or demanded, a to pay any other Iwbilrty what- ~~ver to the Bank nrhen due: (b) the death of any ~ndiv~dual Obligor, the d~ssolu;ion of any part~ership Obligor or the d~ssolut~on, merge: or Qo~sohdat~oo wich- '~u~ the Bank's pnor w.rtten consent of any corporate Obligo~: Ic) the filing oi a petrtion in bankruptcy o~ the ad~udicauon of insolvency or bankruptcy under _ ? reorgan~zauon, a~rangement, readjustment of debt, dissolution, liguidation or sim~lar proceeding under any federal or state statute, by or against any U~~; ~qor; (d) an application tor the appointment of a.ece~ver for, or the making oi a gene.al auignment for the beneiit of creditors by, any Obligor, (e) the entry t ~;udgment against any Obhgor, (f? the issuing of any attachment or garnishment, or the f~ling of any lien, agamst any property oi any Obl~gor; (g) the taking of = ;r ssession of any substanual part oi the property of any Obligor at the instance of any govemrt?ental authority; Ih) the determinabon by the Bank that a maten- adverse change has xcurred ~n the tinanc~al condirion of any Oblegor from the cond~tions set fpth in the most recent flnanual statement of such Obl~gor ;3 he,erofore furnished to the Bank, or from the condition of wch Obligor as heretofo~e most recendy disclosed to the Bank, w that any warranty, representation, , ;_v~ t~ficate or statement of any Obligor (whether contained in this Note or noH pertaining to or rt? connection with this Note o~ the Ioan evidenced by this Note ~ ~ nta~ns a~ untrue statement of material lact or omits to state material tact necessary in order to make the statements made not misleadi~g; a, (i) the ass~g~- ~ -.;en~ by any Maker of any equrty in a~y of the Collateral without the p.~or written consent of the Bank. The Bank shall have, but sha11 not be limited to, the following rights, each o~ which may be exercised at any tirtx whethe. or not this Note is due: (i) to ~ a'ecige w transie? this Note and the Co~~ateral and the Bank shall the~eupon be relieved of all duties and respo~sibiht~es hereu~der and relieved trom any and all ~ ,b~irty with respect to any Collateral so p?edged or transfe.red, and any pledgee or transferee shall for all purposes stand in the p~ace oi the Bank hereunder and ~e all the nghts of the Bank he?eunder. (ii) to transte~ the whole or any part of the Ce!!>_?esa! ento the name of rtsel( or rts nom~nee; hii) to vote the Collateral; ~ to ~otify the Obligors of any Collateral to make payment to the Bank ot a~y amounts due o? to become dur thereon; (v) to demand, we for, collect, o~ " make any compromise w settlement it deems desirable vrith rofe~ence to the Collat~rat; and (vi? to take posseu~on or control of any proceeds oi Collaterat. ~ ~ p 2~ 299 ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION DJUN PAG~ ~ Ei5 752 Rev. 7/77 ~ ~ _ - _ ~ sr-~ . ~ p~'- ' ~ '~'~'~~°.~~~`~-v r ~c''-~` ~ ,~;~-6;-.r , ' ..z~"..: . . :,~~E,*s=`::: . .