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Home My WebLink About0997 INSTALLMENT PROMISSORY NOTE ' ltlf~il.t A6tE ASSDCIATES. INC. • _ ~n? Amount Receiwd S 9~41Z.00 BANK NAME (8) PrNnium (o~ CrEdit Liit/Disability I~s. S ~~d~ PA• dOX 618. JQl1S~li B611CN. l~ARIDIA 3]4ST (C) Dxumenu?y Stamps S piO~y OFFICE ADDRE55 lD) OthN Char9es (item~i~) S ~e? s HorE Ho. onTeo: February [7 _.~sl$.. ~F? ~ s March 11 88 ~c~ i e c Fo ~ ~ s 4.siz.~ o~,E: . ~s-. ~~s~i _se ~H? s PLACE: , FIORIpA (l) G~dit I~v~stigauon S l.!! Otha S For value rece~ved. the u~dersigned (Mreinalter cellad "Maker") jointly and seve~aily (if (K) S more than o~e) promist to psy to the o~der ot the 8ank, at its otiice listed above, the Toal ot Payments (trom (N) st right! oi ~is.~~~6~ pollarspayabls in 19n il) S evual monthly installments ot S is7 ~~3 , the tirst F~NANCE CHARGE s 631 ~6~ IH, 1, J, K. U S ~ installment due on Apri 1 11 , ~g 78 and wbsequent installments due on (N) Total of Payments (G + M) S is~,~3•6~ tnellf,lldav ot each month thereatter, ~o9e~ner v~nin s FiNA~ en~~oON PArMeNT OF: ANNUAL PERCENTAGE RATE % 5 ~UE ~ . 19 The Bank shall impose a delinquency charge against the Make? on any psymeM wA~ch has becoms due a~d remains in detault fo~ a period in excas o( 10 aays in an amount equal to 57fi ot the amount ot the p~incipal part of the payr~n?t in de(ault. In the event that the Note is not paid in futl at matu~ity, all pay- n,en~s, whethes principal, interest or othe~vvise, shall bear interest at the maximum legal ~ate allowed under tAe laws oi the State oi Flwida. All payme~ts made hereunder shall be crtdited tirst to interest and then to principsl, however, in the event oi dsfault, the 8ank may, i~ its sole distretio~, apply sny payment to ~nterest, principal and/or lawtul charges then actrued. It is the intention of the parties hereto that the provisiOns herein shall not provide direCtly O~ i~direCtly tor the payment of a greater rate o( i~tetest or the retention ot sny othe~ thargs than is allowed by Isw. If, for a~y rsason, interesi in exoess of such legal rate or : ~ charge prohibited.bY 1aw shatl at any time be paid, any such exceu sAslt eitAer constitute arxf be treatld as a payment on the principal or bs ~e(unded directly j ro the 1lifaker. _ . 4 The Maker may prepay the entire ur?paid balance of the toan at any time. N the loan is p~epa~d in tull, accelera~ed or retinancecl, the Make+ shall receive a ; ~eiund of the unearned po~tion of the interest and inwrance premiums computed by the Rute of 78's method, excep[ that the Bank shall be entitled to retain a minimum interest tharge of ~J.(~. CREDIT LIFE ANU CREOIT LIFE b DISABILITY INSURANCE ARE VOIUNTARY AN~ NOT REQUIRED FOR CREDIT. Such inwrence coverage is avaiiable at the cost designated below (or the te?m of the aedit: (al S tor Credit Life Inwrance (b) S . •'or Credit Lite & Disability tnwrante: Check ? Credit Lite Inwrance is desired on the life of A pp1. B irihdate - ; E3ox ? Credit lite & Disabitity Inwrance is desired on Bi~thdate ~ ~ Credit life andlor Disabiliry InwranCe is not desired. / February 27, 1978 ~ s;9,,,~„« ' ~ Date: • M N~ITH 3 Signaiure ~ ' q,p 0~0769X ~~Ifdl~114~d ~ As security for the ayment of the No[e the Maker hereby grants to the Bank a security ~nterest ~n t tollowing property: t ; iac.r.sc ~a r~rci. ~...r coaao. I r~oos~d~d ia O.R ~oa~ Zs3 zooz p un c r?...ks i.~e i~ co,do. No. 0.13. ~pe. No. azs a..~i~.a in ,.ia ~e~.. ~nc~uding all intreaset, substitutions, replacements, additior?s and aCceuions thereto and in the proceeds thereof lhereinafter talled "Collateral"1. This SeCUrity ~ ~ncerest shall also secure any other indebtedneu or liability of the Make~ to the Bank dire~;t w indirect, absolute or contingent, due or to become due, now ex- ! ~st~ng or he+eafter arising, including all future advances or loans by the Bank to the Maker. j i he Bank is also given a tien a~d a security interest in all property and securities of the Maker, endorser, wrety, guarantor or accommodation party of this ~ Note (~eitWfter referred to as the "Obligprs '1, now in or at any time he~wfter coming into the control, custody or poSSeuion of [he Bank, whether for the ex- i p~essed purpose ot being used by the Bank as Collateral, or for any otha purpose, and upon any balance or balar?ces to the credit oi any accounts, including ~ «ust and agenty accounts maintained withthe Bank by any oi the Obligors, and the Obligors agree to deliver to the Bank additional Collateral or make such ; payments in reduction oi the pnncipal amount of the loan as shall be satisfactory to the Ba~k, in the event the alorementioned Collateral shall decline in value ~ or become unsatisfactory to the Bank. ~ AddiuorK to, reductions o~ excharx~es of, or wbst~tutions for the Collateral, payments on etCOUnt oi this loa~ or ~nueases of the same, or other loa~s made ~ po~[~ally w wholly upon the Collateral, may from time to time be made without affecung the provisions of this Note. The Bankshall exercise reasonable care i~ ~he custody and preservation o1 the Collateral to the extent required by applicable statute, a~d shall be deemed to have exercised reaso~able care if it takes wch acc~on fw that purpose as Maker shall reasonably reques~ in writing, but no omission to do any act not requated by Maker shall be deemed a(ailure to exercise ~easonabte care, and no om~uion to comp~y vvith any request ot Make~ shall of itself be deemed a failure to exercise reasonable care. Bank shall not be bound to ! take any steps neceuary to pre3erve any nghts in the Collateral against priw parties and Maker shall take all netessary steps (or wch purposes. The Bank or its ' nominee neecl not collect interest on, or a principal oi, any Coltaterat or give any notice with respect to it. ~ The 8ank may continue to hold any Collateral deposited hereunder after the payment of Mis Note, at the time of the payment and discharge hereof any of ~ tne pa?ties liable for the payment hereot sAalf be then directly or contirx,~e~tly liable to the Bank as Maker, endorses, wrety, guarantor or aocommodatio~ party of any othe. note, d~aft, bill of exchange, or other instrurnent, w o[Aerwise, and the Bank may thereafter exercise all rights with respect to said Collateral g~anted herein even though this Note shall have been wrrerxfered to the Maker. ~ It the Bank deems itself insecure w upon the happening ot any oi the foltowirg events, each of whicl~ shall constitute a de(ault, all liabilities of each htaker to tre Bank, i~cluding the entire u~paid principal of this Note and accrued incerest, leu any unearned interest aod any interest in exceu of the maximum allowed ~ by faw and any rebates required by law, shall imrt~ediatNy or chereaicer, at the option of the Ba~k, except that the oocurrence of (c) or (d) shall cause automat- ~ ~c acceleration; without notice or demand, becornedue and payaWe: (a) the failure of a~y Obligtx to perform any obligation, liability or claim to the Bank, to pay ~ i.^.terest hereon within 10days atter it is due, or if there is no due date, aiter it is billed o? otherwise requated w dema~ded, or to pay any other liability what- ~ scever to the Bank when due; (bl the death of any i~dividusl Obligw, the dissolution of any partnership Obligor o? the dissolution, merger or eonsolidation with- c,ut the Bank's prior vvritte~ rnnsent of any corporate Obligor; (c) the tiling of a petition in bankruptCy or the sdjudication of insolve~cy or ba~kruptty ut~der any reorganizatioo, arrengemeM, readjustment of de6t, ditsolution, lipuidation or similar proCeeding under aml Federal or state statute, by w against any ~ " Obl~gor; (d) an application tw the appointme~t oi a receiver for, or the making of a general assignrnent fo~ che benefit of creditas by, any Obligor; (e) the entry ~ of ~udgrne~t agai~ut any Obligor; (t) the iswirg of any attxhment or garnishment, w the filing of any lien, against any property oi any Obligor; (g! the taking of j pozsession of any wbsbntial part oi the prope~ty of a~y Obtigbr at the i~tsnce of any govemmental authwity; (h) the determination by the Bank that a materi- ~ at adverse ehange has occurred in the.finantial conditio~ ot any Obligor from tAe conditiorK set (orth in the most recent financial stetement ot wch Obli9or :a heretofore turnishecl to the 6a~k, o? frotr? the condition of w~fi Obligor as heretotore most reoently disdofed to the Ba~k, or th2t any warranty, representatio~, ~ cerciticate or statert~ent of any Obligor (whether co~tained in this Note or not) pertaining to o~ i~ connection with this Note or the loa~ evidenced by this Note _ cuntains an untrue statement ot material fact w omits to sWte maurial fact necessary in order to make the statert?ents made not misleading; w, li) the assign- ~ ment by any Maka of a~?y equity in any of th~ Collaura~ without the prior vnitten consent of the Bank. i Ths Bank stwll have, but shall not be lirmtad to, Me toltowir?g rights, each of which rt?ay be exercised at any time wfiether w?wt this Note is due_ (i) to pledge or transfer thit Note and tM Collateral and the Bank thall thereupo~ be relievad of all duties and responsibilities hereunder and relieved from any a~d all liab~lity with respect to any Collateral so pledgsd or transterred, snd sny pleclpee w transtaree shall for all purposes stand in the place ot tF~e 8ank he~eunder a~d have all the riyhts of the Bank henunder; (ii) to transier the whole or a~y part of the Collatsral into the name of itset( or its norninee; (iii) to vote the Collateral; ~ 1~v) to notify the Obligws of any Collateral to mske payment to the 8ank oi sny amounn due or to become due thereon; (v) to derr~arxf, we fw, collact, or ~ make srry compromise or settlement it daems dtsi.sble with nferenq to the Collatersl; and (vi) to tsk~ possession or contrd of any proceeds of Collateral. r ~ *"BAt~M aa ua~ h~r~ln ~ans Turtl• 1tNf Associat~s, Iac. aad/oc !ta aasisns. NOTICE: SEE OTHEfi SIpE FOR IMPORTAKT INFORMATION eO nQy F n^~ FBS 752 Rev. 7l77 rOV.~ ~1 ~ ~j~{, F- _ _ - - ~ - ~''Y' ~ ~~,~``"-::i... ~ - - ,,~F 4~