HomeMy WebLinkAbout0493 INSTALIMENT PROMISSORY NOTE
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~ FIR~T NATIONAL BANK OF FORT PiERCE IA) Amount R~c~~wd s 9. 500. 00
BANK NAME (8) Pt~mium ~Or Cr~dit 2Q6 ~ 78
L~t~lDissb~lity Ins. S
Post Office Box 970 Fort Pi~g. Florida ic? Uocurn~nt~ry Stamps s 7. ZD ~
oiF~cE nooaESS (0) OthN CMr9es Gtem~it) t Y10R@
~E~ = none
NOTE NO. 26-0025-4 DATE~: OCLQbef ~4 ,~9.Z$... ~F~ s none
cc~ a~„a,~~ F~~.~,~.a 4 .753.98
ouE~ October 24 ,)g~,~,,, (A. 8, C. D, E, F) • S
i~~«.~~ s I, 801. 82
PLACE: ~''OY't P~~Y^C~__ , Fl,OR10A Cr~dit Inwsti9ation = 2~ - Q~
(J) otMr s n~ne,
For vslw received. th~ undasi~~d (h~ni~?stter ulqd "Maker") iain[!y and s~v~rally lit (K) s none
more than oM) O~omis~ to paV to t1+e ord~r of tM Bank, s~ ia olfic~ liat~d sbov~, th~ Toal
oi Payrt+ents (f?om (Nl ~t ~igl+t) of S 6, 58~ _ 80 pollais payabl~ i~ _~i~ (~I t riOjl@
equal mOOthly i~stallrt~fntf o1 S 1Q9 6~ . th~ tirst (M! FINANCE CHARGE 1~ 8,Z 6. ~,Z
(H, t, J, K, l) Z. .
~nstailrt?!nt du~ on Nev _ 24 , 19Z~„ and subsequ~ni instsllmtnts du~ on (N) Totsi Of Payrt~nts (G+ M) S 6. 5~~ .$0 ~
the__24day of ~xh nno~th tMnatter, togeth~r with s FINAI BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 13. 62 X
s none oue none . ~9
The 8a~k shsll impos~ s d~linau~ncy cl+sry~ ~gainst t1+s Maka on any payment which Aas becom~ dw and r~msins in d~bult to. a psriod in ~xoat of 10
davs ~n a~ amount pusl to 5% ot tM smcw~t of t1N principat part of th~ psymtnt in d~fsult. In the went tMt th~ Noa n ewt paid in tull at maturity, all pay-
men~s, whether p.incipal. intaese or oth~rvvis~, sh~ll bea. int~r~st ~t th~ maximum legal rste allowed under eh~ laws oi the Stste o~ Florida. Atl psyments msd~
hereunder shsll b~ crldited first to inter~st snd th*n to printipsl, howevar, in tM ~vMt of default, the 8ank may, in its sol~ disCrttion, sppty snV psymertt to
~nterest, principal and/w ~wviul chsrgas [hen scuued. !t q tF?~ inten[ion of the pa.cies hereco thst the provisio~s he~ein shall not p~ovid~ directly or indir~cdy
fo~ [he Wyme~t o~ a greater rate of interest or tM ratsneion o( any oche~ chs?gs than is sllow~d by law. If, (or sny reasa+, inter~st in exc~ss o~ wch tegN race or
a c?+a~ge prohibited by law shal~ at any t~rrn bt paid, a~Y wch excess shstl either consatute antl bs treated ss a payment on the principal o~ be retund~d dirsctly
co che Maker.
The Maker maV prepay the entire unpaid balanu of tha loan at s~Y time. If the loan is prepaid in futl, ~ccelerstsd w retinanud, the Msker shall ~euiv~ s
•e'und of the unea.ned po~tion ot the interest a~d inwrance ~remiurtn computed by the Rule o1 78's method, except [hat the 8ank shs11 b~ entitled ta rr~ain
a m~nimum interest chsrye of $5,~. • .
CREDIT LIFE AND CREDIT LIFE d~ OISABIIITY INSURAiVCE ARE VOLUMTARY AND NOT REQUIREO fOR CREOIT. Sucl~ inwranct cov~rage is
a„a+iabte at the cost designated below for the term of the aedit: (a) S 246. 78 tor Credit Lite Inwrance (b? S none
1u. Credit l.iis dr D~sabitity Insursnte:
C+~eck ~ Cr~dit Life Imurance is des~red on tM I~te ot Edw~n ~ Thoma s
qpp~. Birchdate _ 7/19/4 3 _
8ox ? Credit Life d~ Oisdbility Insurante is desired on
` Buthdate ~
? Cred~t life and/or D~sabi?~ty tnwra~ is not desired. . /
~a~!/-~ri O+G ~
oare: OctobeC' 24 ~,.,,1978 sg~a~u~e
Sigr+ature
As security fw the payment of the Note the Maker hereby gnnts to the Bank a security inte~est in the tollowirg property:
SECOND MORTGAGE ~N REAL ESTATE- See ov~t for legal descript~n of nronertv
~ncFuC+ng all inc~eas~s, wbstitut~ons, npbcements, additions and access~ons thereto and in cAe p.ocee~ thereof (hereinafter called "Collatersl"1. This s~cu~ity
~nterest shall slso s~curs any other indsbtedness ~x liability of tM Msker to che Bank direct or indirect, abaolute ar continng~nt, du~ w to becom~ du~, now ez-
~st~ng or h~reafte~ srisi~g, inctudinq all future adrs~crs o? losns by the Bank to the Maker.
Th~ Bsnk ia slto 9iwn s li~n and s stcurity intenst i~ al! propeny srxf securities of the Msk~r, e~dorser, wrety, gwrsntor or accommodstion puty of tAis
Note (M~einsfter r~ttrnd to as tM "Obligori'1, now in a st ~ny tirrr haeafter coming into the control, custody or possess~on of tht Bank, wh~tMr tor tht sx-
p~eued purpos~ of bsiny ussd by the Ssnk as Coltatersl, a for s~y other purpose, and upo~ sny balanct or balancOS to th~ cndit of sny accounK, includinp
trusc a~d sysney accounu rt+sinainW withthe 8ank by any of tM Obligon, and the Ob~igo~s ag?ae to delivar to che Bank additional Collatnal o~ msk~ wch
payments in nduction of ths Wincipsl amount of th~ loan ss shs11 be satisfscto?y to the Bank, in the event the afwemention~d Coliscenl shsll d~Nin~ in va1~
or becprne unsitiststtOry to tF+~ Bsnk.
AdCicions to, reductions a exchsnyrs of, w wbstitutions tor tl+~ Collat~ral, payments on accouni of this loa~ or inuess~s oi tAa sime. or other losrq msdf
pa~tia~ty w wholty upon th~ Collste.al, msy from time to tims b~ msds wiMout atfecting che provisions of this Note. The Bank shsll tx~rcis~ n~so~sble csre in
the custody and preservstion of th~ Collstenl to th~ sxtent rpuind by app~icsble statute, and shall bs deemed to hsve exert~sed ressonable pre if it bka wch
act~o~ to~ thst purpos~ ss Maker shstl rtasonablY rpuyt in wricin9, bu[ no omission to do any sct ~t requested by Maker s1?all b~ de~med a tsilun [o ~xacise
.easonsW~ prs, snd no omistion to eomply with any nqu~st of Maker shall of itself be dsemed a failun to exercise nasonable can. Bank shsll not b~ bound to
cake amr steRs nscetsuy to pres~rve sny riyhn in Mt Collstenl sgainst prior pa~ties snd Maker shall uke all necestsry steps for such purposa. 7h~ Bank or its
~omine~ ne~d not tolleet i~arest on, Or i pti~cipal of, ae}/ Cotlaursl or yivt any notite with respset to it.
Th~ Bank may continue to hold any Colfat~nl deposiad herevndar aftw tAe payment of Mis Note, if a~ che time of th~ psyment snd dischsrgs he?eof sny oi
che psrties l+able for ths psyrrrnt hereof st?all b~ then d~netly a contin9entty liable to the Bank as Maker, endorser, surety, gua?anto? w sccomrinodation party
of any other note, draft, bill of szchsng~, w othN instrument, or otharvvise, and tlx Ba~k may thereafter exerCise all .ights wiih respect to ssid Collan+sl
g+anted her~in even thou9l? this Note shali h~v~e been surrMdtnd to d+e Maka. .
If the 8ank deems itsNf insecure or upon [Ne happenirg of any of tfie fotlowing events, exh of which shall constitute a default, sll liabiliti~s of txh Maker to
che Bank, includinp th~ entire unpaid principsl of this Note and accrusd intsrest, less any unesr~ed incerest and any interost in ~xcess of th~ mszimum sUow~d
by Isw snd sny rebatss rpuired by law, shsll imn~d~st~ly or ther~~tter, at the oPtio~ oi th~ Bank, ezcept that the oocurr~ncs of !c) or fd) sAsll esus~ wtomat-
~c acceleration; without not~d or damsnd, b~cwntdue sn0 paysbb: (s) the failure of a~y Obtigw to psrform any obligation, lisbility or daim to the Bank, to psy
interelt hereon within 1Odays atter it is du~, or if thsrs is no due date, stter it is b~tlad or othervris~ requated or d~manded, o. to psy any och~r lisbiiity what-
scever to th~ Bank wh~n dw; (b) che dwth o( anY individu~l Obliyw, the d~uotutipi of any psrrne.ship OWi~o• w ths d;ssolution, msrgtr or eonsoliduion with-
out ths Bank's priw vvritan consent of arty caporate Ob~igor; (c) th~ filirg oi a p~tition in bankruptcy w the adjudication of inwlveney o~ b~nkruptcy under
any ~eorganization, a~ran9ement, resdjustmsnt of dsbt, d"rssolution, liquidation or similar proceeding under ae?y Federal or stat~ statute, by or aysinst arty
dblgor; Id) an applkatio~ fo~ th~ appointment of s nttiv~r fo~, o. ~he msking of a gen~rat suignment fa t~s ber»tit of cnditws by, s~y OWi9or; tt~~ enW
oi jud9ment a~sinst any Obli~; ( il th~ issuirp of sny attachment w garnishrtwnt, w the tilinq of srry lie~, sgai~st sny proW~~t1/ of ~y Oblipor; fy! M~ bkin9 of
possession of sny subsantisl ps?t of th~ prop~rty of any Oblpw at tli~ instanct of any governmental authority;lh) the determination by ch~ Bsnk thst a materi-
at advers~ thany~ hss ocCUrr~d in the fir~ancisl tondition of any Obligor frwln tA~ cot~ditions set forth in the most retent lina~tisl sUtMwnt of wch OWigor
heretofw~ turnished to th~ Bank, o~ from the condition of wch Obliyo~ as Mretofore most ~euntly disclos~d to th~ Bank, or thst any wursnty, repr~ntstion,
certiticate o~ stat~ment of a~y Obligor Iwh~tl+er contained in this Nott or not) pertainin9 to or in connettion with chis Non or tM loan ~videnoed by the~ Nota !
contai~s an untru~ statemsnt of material fact a omiri to state mst~rial is~t necessary in ordtr to r?~sks tM stat~ments mad~ not mist~sdirg; or, (i) th~ as~+-
ment by a~y Mak~r of any equity in sny of tM Colls[tr~l without th~ prior written tons~nt of ths 9ank.
Trie Bank shsll hsvt, but f1~s11 not b~ limit~d to, tA~ follovwrg rghts, fxh of whkh msy b~ ex~rusd at any tim~ wMtA~r o~ not Mis Noa is dw: Ii) to
pledg~ or trsnffer this Note ~nd tM Coll~t~~al snd tM Bsnk shall tAN~upon b~ rfliewd of all duties and responsibilit'as Mrwndr~ snd ~eliew~i from sny snd sp
liab~~ity with resp~ct to any Collatersl ~o Ol~dy~d w tnnsfe~rsd, ind 8ny plldQN Or trsn3fNN Sh~ll tor all Purposts stsnd in th~ plso~ of th~ Bsnk ha~urWer ud
have all tAs ~ight~ o? the Bank h~rwnd~r; lii) t0 tnnsi~r tM who~t o~ sny ps?t o} tl+~ Co~latenl into th~ nsme of itself o~ itf nominsr l~~i) to vot! tf+~ Co~latt.sl;
I~v) to notify ch~ Obli9ors of any Collstasl to msk~ psym~nt to th~ Bank oI any amounts du~ or to beeom~ dw therwn; fv) to d~msnd, w~ tw, ooll~et, a
make sny compromis~ d s~ttlem~nt it deems dainW~ with ~~f~r~nc~ to ~h~ Collste.sl; and (vi) to takt posussion a cantrol of sny proc~~df oi CoIlsMSI.
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bD4.K ~ ( f7~;
NOTICE: SEE OTMER SIOE FOR IMPORTAiYT INFORMATIOM
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