HomeMy WebLinkAbout0986 , , INSTALLMENT PROMISSORY NOTE ~ ~ ti' . . .
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. . ~ .Jensen Beach Bank ~ _ _ ''.t 'iiu ~mo~,~~R.e.~r.e.~~~- .~~-s~;,25,5a0,00
- BANK NAME _ _ . ~f ' (8) Pr~miumlOrC?~d~t ,~•:1~ sjOO•~ '
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_ :t - , . - .I~~ l~i~ ELi(~/Dis~bilitY i~a' S' ~ '
~ ~ 1939 ~om~nercial ~~t: . _ ~ensen . BeaCh:,' . Fl' : 38d5y• -ic~'oo~~~++:~un st.ma•t: = ~t= - - • " ~
_ .PFFICE ADDRE$Ss~ - 'e = s;t-; t~:- -~OI'OIMrCharpislilNnitd,'~~•~j', ~ -
- j0 -•i~ -1- ~ ilt - . }/i ~'!i~' .~~1•' ~ ' j~' 'j~ ~•ti~•- ~~E~- •It = 11! : •1. ~.~.-_.rr~~~~~~• - L~
NOTE NO....•.;,• :~:~ATEO:•'~+ ~~t.`tOb@T.=18.= 1~1~=~:E18Z~::»~i4 jFl~~' ~~1=!!;= t~t=-.{~1•_;l:~ ; i' - ,:I r
. 'r~~ -~t~f.- ~~i' _ ~i;1~-_~fl~-_~t;! =~ti1 =1;~-
=i~! =1~i-~ !i! - :jG1~Amou~t Fin~~cid='.~1:. :'l~l = '
ouE: ' ~Q~tob~ -1K~~-= . ~t1s- '~i~'==~t~~-'t~i9 ~ " = :,;IA; 9.~C.:a;E:~l~t ~ :~i~=±=~~~17:065:65~- ;~t~
T ' - ~"8-
~ • - 9 ~ 997 95 -
_ _ = t'' - _ ' . j i;~ : i:! =:St :.~~1 ~t,,~=,l~~,;~~.:: :1?+Li~t..~i~,;.r-;li,~~t_i =-':i , -
PLACE:^. . "JPnS'eri Beach - ,'i--'ili=.'~1-=~lh=l~i ~FLORJDA==1i "III;~G~d1tlm~si19itiW~~, . - ~ .
• • • . ~ ~~~._~~t.~. ~;~~.tli'='t ~ ~i!1 ~i~~) ~hK-~1~~~ ~1~.=-'It'.-~}j=-~ ~ - r
For-valu~ rect~ved. tfu unMr~tyn~d~lher~inaft~r call~d "Msk~+:•1,.'joiritlXpn~ urewlly',jii'-; ii (K1 ~:s~"_~i1i li~~-= lil~==:' -
rr,ore thsn one) Promis~ to p~y to the order of ch~ Bsnk~.at its offlce`listed ~ow 'theTotsl _ ' =is~=- ~~~~---1~! t~
ot Payments (trom (N) ~t ri~lit) ot ~27sOb3:~i0 = ~ 'Doliirips able_in~ i~'' = 'IL1~ ~ ^ • ~ r - ~ V •
~ -225:33• : ~i'~'!: ' -';i lM1 FINANCE CHARGE'~'-t;° ~9,99?.9~ ~
eyual monthly ~nstallme~isot S th~luit'~,-_ ~_IH, I; J.K.•LI , - ~ : ' _ ~
cau e'dwo~~ November •16: ,~9:1$.i.iiiw w~?inits~~~xouduson ' ~ . „ 27~0 3. 0_. •
s me~+ ~ - - , ~°_9 j , = ~Nl ,Totst of Payments lG _ M) ' S
tne 16t1~~y pi esch month thtroahes! together wi~h ~ FINAI_BALLOON PJ?YMENT OF' ANNUAL PERCENTAGE RATE =10.00 %
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S_ --.~0l1@'~•~ ' ' UUE• ~ .~'-:,19-- ~ r , . . -
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The Bsnk shsll impos~ ~ dtlinpwnty ~fin9e sg~init.tht Msk~r` on ili~/'psyriknt ~~icl~ !~'ss be'oatw due ired icrosins.io aefwit'(w s puiod io ezcest of 10~.-=
davs in~~ smount pust to.5% af tM amount ol tM prineipil put;pf•ihi,pi~rtNnt +~~tsult.;ln tM,~vint {hat tM' Note.is not psid in full st maturity: sll pay"
me~ts, whether princ?pal, int~rest or otherwis~, thsll bNr,interKt it C~,!TMx~T ~p~~ [~te ~llptiwd updff tF1f l~Wf 01 tfi! St~tt O~~Florid~. AU payments mad~•
hereunder shall be credited first to interat end then tq prtncipal, howeve~
~olhe~e'vtnf,b~ d~Taulf,•{1iR Ban'k may;;in its sole discretion, spply sny psyment to:
~ nie~est, principal'and/or lawtul ebarges Jhen scc.ued.~lt ~i ihe intentio~i 0~'the p~rt~bs fiereto'that-th~ Proyisions hecein shall not provid~ di~ectly or indirettly ~
t er ~he payment oi a grester iste ~aE interest or•the ntentioo of sn'y othir cfisrye than is slioined by law~tl; ~o'r_sny ?esson,.io4~i~st in ~xcea bf wch tyel rate pr'.
a cnarge prohibi~ed by law~shall st anY_time be paid,a~y wch ~zceu shall either.cOristiiute and be t~eated as i psY?1~~t'ori ~k~"pr~~cip~l~qi l~s. ~efundcd dirtetly_-
totheAAaker.. _ - ~~i• _ ~~~:~_~tl_.?t~~~ ;}:-•~1t wt1~~~1t1~.
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=~~~l---ji~~'.•j~l,= i~i•=, i;1.=_ 1
The Maker may prepay.the ~ntire unpsid balarece of the ~losn ~st an~ time;li the losn ii prepaid in full,.stcelers~ed w: ~efinsrited; ~tAi l~laktr sh~ll ~eceive i=-
re}und of the unea?ned portion of'the interest and inwrarxe premiumi computed bjr the•Rule at.78's method,~ezoept~+at~thi ~ank'shsll be_eAtitled to.retain,
muminterestchsrgeof ~.00. - - _ - - ~ ' - - -~tJ ~ -.'~~.~.i~~.=:~C
arnini ~ . . : r . ^ `~,~~~~'~i~:-~ ~ ~ ~
CREp17.UFE AND CREDIT LIFE &~DISABIUTY~NSURANCE AR~~/OlUN7ARY~AND NOT REQUIRED FOR CREOIT,Su;d~inwra~cecov'era9eit
. . _3.SOD~30U'.':
a~~a~iable at the cost oesignated belrnv tor~the ~ie~m oi the
credit:.lal S~ • ~ for Crodit•li(e Inwranoe'ibl'S ' - .
10+ Credit'Life b Oisabil~ty Inwrante_ ' •a _ - - :i~1~ ~ f - - -
- - . . ___t~} < R- .tsh_,~=~ _ - . . - . -
Check. Gedit tite Insursnteisdesiied on the lii •t` •~1~eT~ e aid '
AP~,. . `S2Q,000.00 for •10~ year'sS~~ecreasina`~Tern+~'-'' •eKtn~,:.•~ - 2 .20 4D' - - - _ -
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8ox ? C.ed~~t~ied~U~sab~lity'Insuranceiidesired'on'J ~ - : - - ' _ _ _ _ _ .
. _ • ry: _ ~ _ • _ _ - '
~ . _ • "guthda~e~ - .
~ Credittifeand/or D'aabilitY.lnwraqceis(~otdesired~'t~~'~'i~+ __~~l1 !~'~=-1;_i--;t'-- 'i - • • _
Dar OCLOber `1.8~,'1978• - - S~natur! X~~~ ~ iriT' =o.~.,a.,"' _ i• . - - -
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_ _ ~ ~ _plliext~'R:"-Slieppard-.~;: ~ = - ' ~ "
- -~-v~ ~ ~ - ~ ~l;_='~:_:`-!!F'-~!}-I~i--li~ ~ ~ t, ° Fj -~~3•=4j1=•!:i , ~
. _ ~t~~ - =•~i~ _ --Signature._ ` _ - - ~ -
. . 1{'_f__}:~_ 3,.~~.;,_.;. __..9 - ~ 1°' . . .
As secur~ty tw the paymenr of the Note the Mak~v herebj/ prariir to the-Banfc a 3ecuri[y inierest inlhe followiig propertY: - '
_ - ~ Lot #19a S~ction -II~'in tfiat certain~Condo~hiniLxn- kn~wn as"OUTDOOR RESORTS:Of - _
AMFRIt'A AT D=FTTiFS• T_S~I~MT-= as"dPa'trib~c'1 ~in ~saicl mortaa~p: - _ - _ .
~nctud~ng all_intreases, subs[itutions, replaceme~ts, additions and~ccessronslhe?etO~ar~d"in'the fNOCeeds~thereoflhereinaiterCSlled'_Collateral"~:7Nissse.vtity_•t
I' ~nterest shall also secure any ather• indebtedness o~7isbiF~j?=Q'E ~he fYl$lies tb'tl~e'.Bar~'k~iie~l~bi ihd'rr~it. absoluteartpntingerK,diisbt'to bscomedue. ~ow~ex= -
~i ~s~~ng a hereafter ~rising, includirg aR future adva~oes waoansbl?tt+~~i!ik~9 ~~~Ibslc! ~ 151= f;~.~ I~F ~:_il~..=,1i+_+'_!3~,= 1_~.=.. = t~~_
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~ The Bank is also given a lien snd a secin~ty iotersst:ur-a11 properN ana secur~uei'Of the MsKer,entforser;wrfty: 9ua~anto?`or aoooinmodption prty-of tha -
~~oce (~+ereinafter referreA to as the Qblgo.s~ -nowe~ or at any tlme hereaker~ominp i~to~tl?c comrd, ~eustody w~posseis~on o7 the'Bsnk, wFietha iw the eX• -
~ n~essed purpose ofbei~?gusedby-tfie.Bank.ssCollsteral;a-foranY odhe!-PurPose..and upon 3n1/'bata~cevr balanaes.to ihetriditofsoy socouMS,.inctudirg
~ ~<<~st and agency sctounts maintalned withthl~8ank~by arW of_the"Obligor's,'an0 the Dbtyon agree to deTiver to the Bs~k~sild+iwoal Colbteral or make such = .
~ n~vments in redunion bl the p?inc~psl amount oF the.7oai~ es sl~alt be satistsctory to the 8ar?k; i~~tlie event the aforeme~tioned CoUstera! shaH dccline i~ vslue
e~txcomeur?saiKtxtorytothe8ank- ;;e---~;r _ ;s: _ej; ` _ ! - - • ~
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Additions to, reductions nr exchanges ~ai; or wbstitutions for tM't:ollat~r~l, payments on socwM oT this ioan oi
~naeases of the samc, w oiha.losris made
pa~t~atly pr wholly upon the CollatetN;_ir~y t~om time to umebe ~iade anthouilffectin9~1!?eprovisions o[this Not~: T1is Bsnksdalt exercise ressonable~car~.in =
tne custaty ~nd preservatio~_ oi the Collateral to the extent requireA by:spplicsblestatute, and shsll be deemcd to.hm exercisad reaonaWe care H it taka wcY
act ion for thst purpose u Maker ~shall reesorwWY reQuett in writinp.~but no omission~to do anlr sctroi iequestedby Maker sha11 be d~emed a tsilure to exercise
~ easonable u.e, and no om~ssion=to comply with sny request of Msker iFiall~ofitself be~deemed a isiivre .to sxeccise_reasonable ~re. Bank shsll ~ot be bound w- •
:ake any s~eps necesssry io P~~rK ami riphts in the Collater~ a~ainst~pr~iar,psrties:ind MakerihsG talc'eillreoesssrysteps,ia sud?purposes.-TheBank w iu ~ -
~ominee need not col{ect intetest o~, or-s printipsl of; sny tolbtual OS~qiw~!h! tiotiCrwith ~t,to ~3.~% _ TY i-- 1~ i-^. ~ j t=# i:--- i; i= i~:_
The Baok may continue to:hold eny Collstersl deposifed hertu~-ef~tr_~e'paylrMnt~f ~is~lotl.~i~ the.tiri~e_pf ~'tl+e
p~ymeM snd discharpe hersof smrd
the pa~t~es IiabM-tor the peyment hereot stwll be ther} dire~lr:ortqntinpeqt(y liabk Ioihe'Bank is Maket,sndone~.wretY~9~»~a ~m~~wnY~
of anv other rate. Mait. bill of exchange, oi othe? instrument. o..btherwisei,; and • the 9ank i~ir~y<NieresTterixercise at1 righis wi~ii respeet to ~aiA Collateral _
a•anted he.ein even thouph this Note shell have been writnde?ed to the.Mskei,•_t. ''_.i 3~`_` r 4~
~ - - - iri ~;~t t(e !t. ~.14i •iii~ 111 '1i ~l~~,~ r'•~ - •'t~'--!'~ ~ i
!f the 8a~k deems itsNi insecure or upon tl~e happeni~g Of arlY ai tM ldtowing events, esd~ o~whicl+ sh"slltor~scitu~e'~ deis~ik'afl fiabitii~aof each Mslurro
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fne Bank. inctudi~g the sntire unpaid pi~ncipal ot=thit~Note s~dsecruedirits~est,lessaoyvnesinedinterest.srd~njr.intsrest inexpssofthemaxunumsllaw~d_ -
b~ iaw .nd N+y rlbstK rlquif~ by (~W, sh~Ifirtwrxd~stNya.~t+ere~tter.st:the_opLionof tfie~$ank;s~ce~vtihit dieoocur!ence~t (c1.or shsll csu~e sutom~a~ • -
.c acceferauoe: wiihout notrce w demsnd, beeortiedwaod p~ribfe: WtMfailureiot~ny Oblpormps'rtorrn anY ob~ipstion.'tlab~itY-o~datra to 1Ae 8+^le, to WY
~^:e~est hereon wMin lOday~ after'it u due,~.i~-the:i lsrodue~dsie.sftei.ftis dlbdQi.otherwiserequ~st~d w4einx~ded: w1o.WY aoy otl~ lisbility whst-=",.
.
sxve• to the Bank when due: ibI the death of
a~iid'aidus10b1iyo~`~he deuc~lvtion~of a~r~p~?ma~+p_O¢Ii~o_r o? t1!! Q'asqlufwil. merysr oroonsolidstiori with-+
o~rc the Bank's pria wrnten wnsentoi ~rry eorporste Obligot'..'IC~~ the tiling gf s pttl4ioA'7nbankrupteq.or tl~f ~udcatioe plinsohi~ericy.a b~nkruptcy ur+dd
m ' ~
~ anv reorpanizauon. srrangement, resdlustrrnii of debt. dinatution,!Gqu~ditioi? or s'+~nilar_~i.ocridnp ui+det.arlY Fede.sl•a.~sbte.italute, by or-apairat s~?._ -
~ Ot,;~gur: !dl sn applicacion fo. che appoi~tmmt of.e rsceive? iQi; or the r~kieg of s~ene~sl sssi~ment for the beneiit~oi c~edicorsby a~y:Oblyor; ~e entry ,
er judg~nem syainst any Obt~qor:Sf~. tAe iswiig of s~Y anschment O? ~~~ishmeni: o~ ~he iitir~ of iny iiin, aW'~~ut aoY. Drope~ry af any Obl~por: (D1_tM tslcinp, ot^'
pozsess+on of aoy subst~n6~1 psit of tl~e Proo~!ZY ot sny Obiiy~ n thi iroiance
of sny
9wsrnmentil authoiityi (1~1, ttie determinatwn by tfie Bank th~i~ rrNwi='
a~ edverse ehsn9e hst occurrsd-in the finaix;al:cw~ditioiivf art1? Obtipui `irom'fhe tonditioeu set'tortb _M th~ most rteent t'i~anci~l statemeni bf suoTi Obliya_ '
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~ heretofore fumished to the Bsnk,-n~ tiom the cadition arf wd1 Obliyot ~ 1~ntolore most i~certlydi~los~d, to 8te Bsn1c. W th~t anjl wsrranty, r~resent~tion
~ , t~f~w~e or s~atement nf.any Oblipor. /whsther conuirnd in thts Note oc not! pertaininy to o~ in coniNCtio~±iwth tF~is Note or,tlK_loan ev~denoed.bY fhi~ ~loti t~' - i
conta~ns ~n unt~o! tUtement of materisL~ pr Omits t'O.stat! t~ierisl faCt necasssry, io Drde/ t0 mikl.the slstemenis tnade f10t misle~idi~; oI, (1~ tht assipfl~_
~ rr~nc by ~rty Maker ot anY eWit1? u? ~rry n f t
h e C
d l aurs l w i d+_
o u t t
b e Drior writtM tonsent ott h e 8 s n k; _
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The Bsnk shaTl hsve; but shatl not be 1'imited tQ, the iollowir~p rjq'i~ts, esch ot irhich n+sV be e~ct?cissd st say time v_~Aiether-w ~wt this Not~ h dw: ~i1 to.
p~ e d g e w vans fer t h
i s N o t e s n d t h t C o l l~ t t r s l e n d t
h e B
a n k s h ~ t l t
fi e r
e u p o
n b e r
e l i e v e
d v f N I d u t i e s s n d s
p o n s i D U i t i~ s h s r e u t d
e r, n 0 i t l i e v
s
d i r o m ~ n
y a ~ d a lI-
t~abil ity vwth respect to ~ny Coll~eersf so pledy~d or tnrufen~d, snd my Aledpe~ or iransf~ree shall (a stl purpous stsnd in the ptao~ af ~M 8s~lc hKwndu M+d
rave all 4'?e riphts ot the Bank hcreunder:lu') to tr~nsf~? tM whoh w itry psrt ot the Collateral [:tto tht n~rne of italf,w ib nomitNe: ~iid lovot~ tfit~Collatsrsf;
(iv) tn ~otitY ~ Oblyori of ~nY Collater~l to msk~ psym~n[ to tM'Bsnk -oi atry ~rtwunts.dw or t0 becotne du~ thMlwr' ~(v1 to_d~rr~snd. wt for, coll~tt, a'
makc my wmpromi~e or setttem~nt if deemt desiraWs wlth rtiennte tfl th~ Collater~l; and (vil to Lk~ Postessiof~ O~ control. of ~ny p~ow~dt OI CollaLnl ~
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~ ~ „ , - - _ . NOTICf: SEE_OTHEA SIOE fOR IMPOqTANT INFORMATIDN- _ . _ .
F 95 ~52 R~r. 7/77 . • - .
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