HomeMy WebLinkAbout0261 INSTA~~MENT PROMISSORY NOTE
FIf2ST IVATIONAL BAi\iK Os rORT PIERCE Anx+unt Htte~vtd S I0, 000. QO
~ BANK N:aME (9) Prem~um tor C~ed~t
u~s~o~~an~i~~Y i~:. s_ 1, 300. 00
_ Pos: Offic~ Box 970 Fort Pfer~e, Florida ~c? Uocumentary Stamps s_ 17.10
OFFICE AOORE55 (p) Oih~r Charges (~te~nire) s none
~E~ s none
~:or~ +va 26-OO1S-7 DATEO: ,Jlll,~( ~LS .~9 7$ ~F? S none
' (G) Amount Financed
, ~1l~l~t 3 .~s S8 . ~n. e, c. o. E. Ft s 11, 317.10
(H) (merest ' $ _ G , 79 8 . 70
~~.c=: Fort Pierce , FLORIDA (ll Cretfit Invesugation S ZrJ.
I.11 o?n.r 5 ~ne
Fo~ val~e r~ce~ved, the undersigned fhereinalter called "Mak~i ~oi~tly and seve?aUy (if (K) S none
e chan one) promis~ to pay to the orda of th~ Bank, at its oifit~ tisted above, the Total
: i P,yments lfrom (N) at right) o~ $18 ,130~ 8~ Dollsrs payable ~n 12~ S none
~-,ootnty ~nsta~~ments ot S 15 ~9 , ~he fint FlNANCE CHARGE
(H, 1, J, K, L) S-6 . 813. 7O
:~srasimant due on~Q,pt ~ , 19_2$., and wbsequent installments due on (N1 Total of Paym~nts (G *~.1) S_ 1g . 130 . 80
c!~a_~_day e{ each month thereafttr, togtther vr~th a FINAI BAILOON VAYMENT OF:
ANNUAL PERCENTAGE RATE 10. ZZ X.
- ` none ouE none ,19
T:,e Bank shatl ~mpose a del~nquency charg~ against the Maker on anY paymen[ which has become du~ and remaios in detault for a p~riod in exuss o/ 10
~ ~ s~n an amount eq~a1 to 596 oi the amount oi the A~~~cipai pa.t of the payment in de`ault. In the event that the Note is ~ot paid in tull at•maturity, a!1 psy-
e~~s, wAether principal, interost or otherwiss, shall bea~ iote«st at the maximum legal rate allowed unde~ the laws ot ~he Stace oi Florida. A11 paymants msde
-eunclr. shatl be cred~ced f~rst to incerest and ~hen eo prineipal, however, in the event ot default, rha 8ank may, ir+ its so~e discretion, apply any payment to
~-;e-asc, pr;ncipal a~dlor lawful Charges then accrued. It is tne intention of the parties hereto that theprovisio~s herein shall not provide d~~ectly or indirectty
w~• the payme~t of a greater rate of interest or the retenuon ot a~Y othe. charge than is allowed by taw. It, iw any reason, ~nterest in excess of such legal rate or
::harge prph~bited by law shall at any time be paid, any such excess sha~~ either constitute a~d be treat~rd as a payment on the principal o~ be retunded direttly
~~P ;~laker-
The titaker may prepay the entire unpa~d balance ot the loan at any tim.e. If the loan is prepaid in tu~l, acceleratetl or refinanced, the Maker sha~! receive a
-=~~n:.~ of tha unearnad porbon of the ioterest and insurante premiums computed by the Rule of 78's method, except that the 8ank shall be entitled to ?ecain
_ ~~n~mum ~nterest tharge of ~.(b, '
Cn cC1T LIFE AN~ CREDIT ItFE & DISABILITY INSURANCE ARE VOIUMTARY AND NOT REQUTAEO FC1R CRE01T. Suth inwrance covsrage is
~~.a~i,o~e at the cost designated below (or the te~m o1 the credir. (a) S 1, 3~~ , ~Q-7oint for Credit Lite Insu~ance Ib) S ~~one
• C~ed« L~fe & D~sability Insurance: L~f@ OIl ~ 1O, 000. for 10 years
C`-cK i~ C?edit Life Insurance is desired on the life of David L ohnston Ci1~~OT~ 1. GOOCiW~.II
""'U~ Birthdate 7 1~ 3g 8 8 3$
? Ged~t l~te & D~sabduy Insurance is desired on
6irthdate
? Credit Lite andJo. disabil~ry tnsuranCe is not das~red_ i ~ ~
~-'IJT ~ ~
~~;e TUlY 28. 1978 Signatwe y ~
~ ~
' S~gnature - ~
:~s s?curity fo~ the payment o1 the Note the Make. hereby grants to tAe Ba~k a sec #ty interest in the following property:
SECOND MORTGAGE ON REA,L ESTATE - See c~ier for leaal description of property. ~
-
~-c!udrnq alt increases, substitutions, replxements, additions and access~ons thereto and in the p+oceeds thereof lhereinafzer wlled "ConateraP'1. This security
c~•est shall also secure any other indebcedr+eu w liabiliry of the Maka to the Bank duect or indirect, absolute or contingent, due or to become due, nrn: ex-
ng or hereaft~r arising, including a11 (uture advances or twns by the Bank to the Maker.
The Bank is also given a lien and a security interest in ali p~operry and secu.it~es of the Maker, endorser, su.ety, 9uaranto? or accommodation party of this
'yote (he~einatte~ referred to as the "Obligori'1, now in o. at any time hereafter coming into the control, custody or posseu~on of the Bank, whetha for tAe ex-
;:•esseci purpose of being used by the Bank as Collaterat, or for any other purpose, and upon any balance or balances to che c~edit of any accounts, including
~~::sc and ageney actounts maintained withthe 8ank by any of the Obligors, and ihe Obligors agree to detiver to the Bank additional Collatera~ or make such
c~vmenrs in reduction of the principal amount of the ~oan as shatl be satisfactary to the Bank, in the event the aforement~oned Coliateral shall dett~ne in va~ue
~ecome unsatis(actory to the Ba~k.
Addit~ons to, reductions or exchanges of, or substitutions for the Collateral, payments on account of this toan or increases of the same, or othd toans made
^a~t~aNy Or wholly upon the Coilaterat, may from time to t+me be made wethour aftecting ths provisions oE this Note. The Bankshall ex?rcise reason3bls care in
re cuscody and p.ese.vation of the Col~ateral to the extent reqwred by applicable stawte, and shall be deemed to have exercised reaso~?abte wre if it takes such
~=?:or. for that purpose at Maker shall reasonably request in writing, but no omission to do any xt not requtsted by Maker shall be deemed a failure ta exercise
-easone~te care, and no omiuion to comply with arty request oi Nlaker shall of ;tself be deemed a failure to exercise reasonable care. Bank shall not be bound to
-•~e ~nv steps necessary to preserve any rights in the Collate:al agai~st prio~ parties and Maker shail take a~l nsCessary steps for such purposes. The Ba~k or iti
r c;m~nee need ~ot collect intersst on, w a principal of, any Conaeeral or give any no[ice wieh respect to it.
The Bank may conti~ue to hold any Collaterat deposited hereunder aFcer the payment of this Note, if ai the time of the payment and discharqe h~reof any of
pa~ries liable for the payment hereof sha11 be then direttty or contingently I~able to tha Bank as Maker, endorser, surety, 9uaranta or accommodation pa~ty
any ather nate, draft, bill oF exchange, o? othe? instrument, or oth?rwise, and the Bank may thereaf[?r exercise aU r;ghts w~th respect to said Collateral
~~,;.~~i he..r.n e~.wn though ~h;s Note shall haMe been wrrrndered to the ~47ake~.
~ f~~? Ba~k deems itself insecure w upon the happemng oi any of the following evenes, each of which shall constituta a default, all Iiab+lit~es of each AAaker ;o
B~n<. including rhe entire unpaed pr;nc;pa! of this Note and accrued mter~t, Iess any uneamed inrerest and any inte~est in excess of the max~mum allowed
;;,r. and any rebates requ~red by law; shall immediat~ly or thereafter, at the option of the Bank, except that the occu.rence of or (d1 shall cause automat-
; cc~i~?ateon; without notice or demand, betort?edue and payab~e: (31 the failure o! a~y Obligo~ to perform any obligation, I~ability o~ clarm to the Sank, ~o pay
~ r--s; he.eon w+thin 1 Odays a~te~ it is due, o~ If there is no due date, after it ~s billed or othervrise req~ested or demanded, or to pay any other leability what-
'.~v°~ to tht Bank when due; lb) the deaeh of any individuai Oblego?, the dissolucipn of any partnership Ob~igor or tAe dissolution, merger or tonspl;dation wiLh-
tne 3ank's prior ~witten consent o~ any wrporate Obligor, (c) the filirr~ of a petition ~n bankruptcy o~ the ad~udication of insolvency o~ bankiuptcy under
-r ~eo.naniration, a.rartgement, ?eadjustment ot debt, d~ssolution, liquidation or similar proceeding under any Federal or state statute, by or againsr any
~qor, id) an application for che appoi~tment of a rece~ver for, or the making of a generai assignment for the bznefit of cred~tws by, aoy Obtigor, (e) the entry
~ ~~gment ayainst any Obligor, (f) tha iswing o~ any attacfiment or garnishment, or the fitirg o? any lien, against any proparty of any Obli~or, (g) the taking ot
e.~s~cs~on o~ any sut?stant+al part of the property of any Obligor at the irrstance ef any governmental authonty; (h) the de~ermination by the Bank that a mat~ri-
',~voru changa has occuned m the fina~cial condition of any Oblgor from the conditions set forth in the most recent Financial narement of wch Obtigor
~~~e=ofo.e furmshed to the Bank, o? from the condrtion of =uch Obf~gor as hereto~ore most recendy drsctosed to the Bank, or that any wa~?aoty, repre~sentation,
=~:~ncate o~ sia!!m.ent of 3ny Obligor (wh.ther contained in this Noie or ~ot) pertaining ro o. ~n co~neCt~on w~~h this Note or the loan evidenced by this Note
~•a~~s an untrue statert+ent of material lact or omits to state matena! fact necessary in order to make the statements made not misteading; w, (i) the assi9n-
-~~t by any l:Iaker of any equicy in any ot the Coltateral w~thout the p.ior written cansent of the 8ank.
i h> Bani ;ha11 have, but sfwll npt be lim~ted to, the ~oltowirg rigAts, each pf vvhi~ may be ere.used at any time wh.ther or npt this Note is dur: (d to
.-'~Cce o~ iransf~r this IVote and the Co~late~al 3nd the Bank shatl th..eupon tre relieved of a11 duties and responsibilities hereunder and reGevaf from any and all
ao+i~ti w~th .espect to any CoUateral so pledged or t~ansfe«ed, and any pledgee or cransferee shall (o. a~l purposes stand in the place of the 8ank hereunde. and
~.e all rhs nghts of ths Bank hereunder, (i~) [o transfer the wf+ote or any pa~t of the CoNate~a~ into the name of itselt or its nominee; tiii) to vote the Collateral;
'.~j not~fy the Obl'gors zf any Collateral to maRe payment to the Bank of any amounts due or to become due :horepn; ~v) to demand, we for, co11Kt, o~
r° any rnmpromise or sett~ement it deems drs~r3hle with ref2rente to tht Collateral: and (vil to take possess~o~ or conirol of any prp~~s oF Co(tatt+ai.
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NOTICE: SEE OTHeR SIDE FOR 1MPOFiTANT INFOfiMAT10~V t~,,, ',jtU`
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