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Home My WebLink About0984 • INSTALIMENT PROMISSORY NOTE (Al Amoun~ R~cerved S i1~9~•~ w • (B) Pr~m~um for Cr~dit Lit~/Diqbility Ins. _ (C) Oocutrrntsry Stamps s O D (D) Oth~~ CAs~q~s Utemit~) S~a» IEI S NOTE NO. DATED: MaY 16 ,19Z~. (F) S~ DUE: ~'16 . 19~ . IG) (A, B, C,FO, E,~Fd) S 11.~.~ !H! tntaat = 6~972_~0 PIACE: . FIORIpA (11 Cr~dit Inwstigttion = ~M~ ~ IJ! OtMr S For value rece~ved, th~ undtrs~gned IMnins(tsr called "Maker") jointly and averslly (il (K) S more thsn one) promise to pay to th~ ord~r ot tM Bank, st it: oflice listsd above, tM Toul _ of Psyments (from (N) st right) of Dollars peyable in s~~~ equsl ma~thly insta~lments ot S ~ ~ , the tirst ~MI FINANCE CHARGE 6~g~2.~ _ ~ (H, I, J, K, L) Z ~nstallment due on 26 . 1~~. and wbsequsnt installments due on (N) Total ot Payments tG + M) _ _ ~ne~_day ot ~ach month tnerestter, to~ttAer wiM a FINAL BAL~OON PAYMENT OF: ANNUAL PERCENTAGE RATE % S UUE • 19-~•~ Tha Bank shall impose a deli~puency cha~ge against the Msker on any payment which has become due and remains in default iw s p~riod i~ ezcess ot 10 cfays in an amount equal to 5~6 of the amount ot the principal part of the payme+~t in default. In the event that the Note is not paid in tull at maturiry, all psy ments, whether prineipal, interest or otherwiss, shall_ bsar interest at the maximum legal rate allowad under the laws oi the State oi Florida. All payrtants maJt hereundar fAsll be credited first to i~terest and then to printipal, however, in the event of detault, the Bank may, in its sola distretion, spply snY psyme~t to ~n;erest, printipal and/or Iawtul cha~ges then attrued. It is the intention oi the parties hereto that the provisions herein shall ~ot provide direttly Or indi?cctly for the payrt~ent of a g.eater rate ot interest or the retention ot any other charge than is allowed by Iaw. If, tor anV reason. interest in excess oi wch I~psl rate or a charge prohibited by law shatl at any time be paid, any wch excess shall either consutute and be treated ss a payment on the principa! or be retunded directly to the Maker. The Maker may prepay the en~ire unpaid balance of the loan at any time. It the Ioan ~s Wepaid in full, acce~erated w refinanced, the Maker shall receive a ~efund of the unearned portion o~ the interest and inwrance premiums computed by the Rule oi 78's method, except [hat the Bank sha11 be sntitled to retain a mmirtwm interest charge of 56.00. CREDIT LIFE AND CREDIT LIFE & UISABILITY INSURANCE ARE VOIUNTARY AND NOT REUUIREU FOR CREOIT. Such inwrantecoverage is ava~~abie at the cost designated below (or the term of the credit: (a) S for Gedit Life Inwrance (bl S for Credit life & Disability Inwrante: Check ? Credit lite Insurance is des~red on the life of qpp~. Birthdate Box ? Credit Life & Disability Insurance is desired on Birthdate ~ Credit Lite a~d/o? Disability Inwrance is not desired. Date: " x ~16 ~ 1Q78 Signature ' r oW? - Signature As security for the Rayment oi the Note the Maker hereby grants to the Ban ~the idlowing property: _ • ~ • • ~ ~ncl r , 11s, ep , 'a ~ h ret ~ e e~eo ere~na ter ta lateral ThK slcuri ~ :nterat shall also secure any othe~ indebtedneu or liability of the Maker to the Bank direct or indirect, abaotute or contingent, due w to become due, now ex- ~scing or he.eafter arising, including a0 futu?e advances o? ~oans by the Bank to the Maker. t Tha Bank is alw 9iven a lien and a secu~ity interest in all property and seturities of the Maker, endorser, wrety, guarantor or accommodation party of this Note (heroirtafter referred to as the "Obligori'1, now in w at a~y time hereaiter coming into the rnntrol, custody or posseuion of the Bank, whetha for the ex- i pressed purpose oi being used by the 8aok as Collateral, or for any other purpose, and upon any balance or balances to the uedit of any sccounn, including trust and agency accounts maintained withthe Bank by any of the Obligors, and the Obtigors agree to deliver to the Bank additional Cotlateral w make wch s payme~K in reduction of the principa~ amounc of the loan as shall be satisfactory to the Bank, in the event the aforemen[ioned Collateral shall decline in value t o+ become unsatistactory to the Bank. ~ Additions to, reductions o~ ezchanges of, or wbstitutions tor the Collateral, payments on account of this loan or increases of the same, or other loans made ~ parcially or riholly upon the Collateral, may from time to time be made without atfeaing the provisions of this Note. The Bank shall exercise reasonable care in ~ che custody and preservation of the Collateral to the extent required by applicable statute, and shall be deemed to have exercised reasonable care ii it takes wch ~ ac?~on tor tha~ purpose as Maker shall reasonably requesc in writing, but no omission to do any act noc requested by Maker shall be deemed a failure to exercise ~ reasonable care, and no omiuio~ to comply with any request o( Maker shalt of itselt be deert~ed a taiture to exercise reasonable care. Bank shall not be bound to ~ take amr steps necessary to preserve any rights in the Collateral against prior parties and Maker shall take all necessary steps ior wch purposes. The Bank or its nominee rMSd not colleCt interest on, ot a pri~cipal of, any Collateral or give any notite with respeCt to it. ~ The Bank may co~tinue to hold any Collateral deposited hereunder after the payrnent of this Note, if at the time of the payment and discharge hereof any oi ~ ~he parties liable for the payment hersoi shall be then directly or conr.ingently liable to the Bank as Maker, endorser, wrety, guarantor or accommodation party of any ott?st note, dra(t, bill of exchange, w othe~ instrument, or otha.wise, and the Bank may thereafter exerc~se all rights with respect to said Collateral gra~ted f?erein even thaigl? this Note shall have been wrrendered to the AAaker. a ~ If the Bank deenn itself inseture o~ upon the happ~nirg ot any ot the following ev2nts, each of which shall constitute a default, all liabilities of eath Maker to ~ the Bank, including the entire unpa~d printipal o( this Note and accrued interat, less any unearned interest and any interest in exteu of the mazimum allowed ~ by law and any rebates required by law, shall inwnediately or chereafcer, at the option of the Bank, except that the occurrence oi (c) or (d) shatl cause automat- ~ ~c acceleratio~;without notice wdemand, bscornsdue and payabte: (a) the tailure of any Obligor to perform any obligetion, liability or claim to the Bank, to pay ~ :nterett hersore withi~ 10days atter it is due, or if there is no due date, after it is billed or otherwise requested or demanded, w to pay any other liability wfiat- ~ soever to the Bank when due: (b) the death o( any individual Obligor, the diudution oi any partne?ship Obligor or the dissolution, merger or Consolidation with- = out the Bank's prior written co~sent of s~y eorpo~ate Obligor; (c1 the filirg oi s petition in bankroptcy or the adjudication of insolventy or ba~kruptcy u~ ; any reorgat?ization, arrangement, readjustment of debt, dissolution, liquidation or similar proceeding unda any Federal w state statute, by w aqainst any Obligor; Id) an application fo? the sppointment of a receiver for, or the making oi a gene~al sssignmcnt for Me benetit of creditors by, any Obligor; the sntry ot judgment apaintt any Oblipor: (t) the iswing of any ansChmsnt w yarnishment, or the filing oi am/ lien, against any property of any OWigor; (g) the taking of ~ oossestion of any wbstantial part ot the property oi sny Oblgcx at the instancs ot any governmsntal suthwity: (h) the determination by the Bank that s msteri- ¢ a1 adverre chanpe has oocurred i~ the tinancisl co~dition of any Obligor from the conditions set forth in the most rece~t financial statemertt o~ weh Oblgor heretotore furnished to the Bank, w from the condition ot weh Obligor as heretotore most retently disdosad to the Bank, or that any warranty, ~eQresentatio~, ; certificate w statert~ent ot any Obliyor (whether containsd in this Note or not) pertaining to or in connection with this Note a the loan evidenc~d bY this Note ~ contairu an untrw statement of material fact w omits to state rt?aterial fatt necessary in order to make the statertee~ts made not mislesdinp; or, (il the assi9n- u ~ ment by smr Make~ ot any equity in any of the Coflsteral without the priw writteo consent of the Bsnk. r TM Bsnk shsll have, but shall not b~ limited to, tM fdlowirq righu, esch of which msy be exercised at any time whether or not this Note is due: to ~ pledgs or trarnfN thy Not~ and ths Collateral and the Bsnk sh~ll tMreupon be relitvacf of sll dutiK and responsibitities hereuncier and r~lieved from any tnd sll ~ liabili~y witN resp~ct fo any'Collate?al w pledq~d o? tts~sfernd, snd any plsclpse or transte?st shall for all purposes stand in the place of ths Bsnk h~rsundar snd havr sll tM ri4hts of th~ Bsnk hereunder; (ii) to trsnsfer the whob a amr psrt of the Collateral into the nsme oi itself or its nomine~; (iii) to vob the Collatersl; ~ Iiv) to notify th~ Obliyors of sny Collat~rsl to msk~ psyment to the Bank oi any amounts due or to become dus th~reon; (v) co dernaod, we fo., oolixt, o? ~ mak~ sny eompromis~ or settlement it deams dssirable with ~eter~ to the Collataal; snd (vi) to take possess+o~ or control of any prowrds of Collateral. : ~ ~ •'BANK' as ta~d herein ,~4~ ~~I~~ ~A~~~,t ~~R6A~4~i~r its us1~s. . FBS ~52 R.y. n p n('~ ~ / ~ B0~'K ~7r.r F,~(;: ~ - - -4 ~ ~ ~ .~4 ~ { ~ c~ ~ , -t~n.~~~ ~ra~ ~a"'a^.~.,,~ y~,,. ^ r - ~ 35 ~~e~-~ t._'., . .9."-~u ~