HomeMy WebLinkAbout0550 ~ ~~+~~L.m_ Stuart. Florida, O c T o Q E R ~ 7 19 78 Nott /
atter date the undenigned (and it more than one, each o[ them '
~~~~ntl~• an se~~cra ly), hereina[ter caUed I~laker, promises to pay to the order of . -
FIRST NATIONAL BANK AND TRUST COAiPANY OF STUART
.~1 Ili 11~~1[t' :Il tilll:!(l. ~'~O(1118. LWL~i~l` ~-11/~lldC~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ VO~~~fS
1~:~~ il~ Jild•
~.h~~h .~u~ount imlud~s Proc~~c~ts ot S Zj !~j SO Plus ocher charqes AppL~.~-1~0~--~C--~BB----
j ~
(Describe)
„t >~Q._ resulting i~ an A\fOUNT FINANCED o[ S]~i~.~ ) with interest at an ANNUAL PERCENTAGE RATE ot
payable_~*1+1~_ which results in a FINANCE CHARGE of S 8~~~_ (Computed on a 6 month maturity, if
~lc~nand obligation). II nut includeci abore, other charges in the amount o[;~~~~~~ have been
(Describt)
~~~llc~cted (~om \iaker. As security for the payment ot this note ~taker has pledqed or cleposited with Bank the following property:
*In man~lv i•+~~iman~ Af ~~n9 fi,n7.~;ra • • ~ ~ - ~ 7 _ 7 4 - -
_
r+~~~-h~dinp a(! caah, atock and otA~? dividand~ and ol1 riykt+ to ~ubi~ribt ~or tttKritiet iwtid~xt lo, declared, or pranted in conNeetion witb
< r~ h p?opt'tty), u•hich property, toyether u•ith all udditiont and sabatitatioxs Aeseajter pledped or depoiited xritJk Bank is called tAt Col•
r~ ral. T6t Colloteral is also pfedyed aa seturity /or afl otAtr lia6ilitiei (premary. ~tcoxdary. dirtet, eowte„pent, to(~, joint or +tvtral). i
-r:,. or b bPCOrn~ dae or u•hirh may 6e le~r~ajter contrneted or atqi~trtd~ oj eatA blaktr (neeludixp tat14 Maker axd any otAtr per~onl I
l.a,~k. Tke rurra»d~r of thu ~iote, upon ynyment or otherwite, ~kall „of ajJeet the ripMt oJ Bank to ~etaix the Collatera~ jor ~ueh '
..~l~rr lia6ilitiea.
Additioos to. reductioos or ~:chu?qa d, os sub~titutbos tor ~h~ CoUabral, papmwb on aocouat d thL 1oaa or incr~as~s d W~ ~am~. or oW~r
loans mads partially or whollp upoa th~ Collat~ral. ma~ lrom tim~ b tim~ b~ mad~ without atNetinq t6~ pro~itbns ot thL no1~. Daak shaII ~ntdN rwon-
zbie care in ths cvatody and pr~ssnation o! ths Co1Ll~rat to tb~ ~ri~nt nquir~d blr applicatbn wtut~. and sha11 b~ dMm~d b ~a~~ ~rre~d »asonabl~
c:,:e iI it takes suc6 actioa tor thal pu~posi a~ Nak~r shall r~awnablr r~qu~sl in writiaq. but ao omisaioa W do any aet aot r~quMt~d bi N~k~r ahall b~
.:eemed a lailurs a~:~rei~s r~awaabl~ eu~. aad no omiuion b oomplr witD aar ~pwat ot Mak~r shaU ol iWlf b~ dNm~d a lallur~ b u~reis~ r~ason-
abie cars. Bank ahall oot b~ bound b uke anT sbps n~c~uarr b pra~n~ anr riqhb ia th~ ColLteral aqaLut prior puti~s and liia~~r ~hall tab all n~c
essary st~ps !or web pu~poM~. Baak oc its aomiaN nMd not coll~et int~[pt on or priatlpal of anY Collal~ral ar qi~~ anY notb~ ~riW r~ap~et 1o iL
it ths Co1Lt~rd ~6a11 at ani tim~ b~com~ unsat~stacyory b Haak. ![aku ahall ~rilhin aa da~ aN~r d~mand pl~dg~ and d~pwit with Daak a~ part d
the Collat~ral additiootl prop~rtp which is utistatlotY b Daak. -
ll Bank dwm~ iwll iaNCU~~, cr upon th~ Sapp~ninq ot aap d th~ bllowinq ~~~nb, ~ac6 d which shall aooWtub a d~tauh h~r~und~r, all
liabilities of ~ach Maksr b aank s6a11 U?s~~upon or W~r~ari~r, at th~ optioa ot Bank, ~rithout aotitv or d~mand, b~eam~ dw and paTabl~: W Iailur~
, ot any Obligor (whkh brm ~hall m~an and inelud~ ~ach Mak~r. ~udors~r, sur~ aad quarantor o[ this not~) b p~rlorm aay ~qrNm~at b~r~und~r, b
pay int~nst her~on witLin bn days aft~r U is billsd or oth~twiN r~qu~atsd or d~mand~d, ot b par anY of~~r itabWtT w6at~w~~r b Dank w6~n du~: (b)
~ e death o[ an~ Obligor: (e) tM Eiliaq d anT pstition und~r th~ Banlm~ptcr Ae1. or any similu tedsial or wt~ statut~. br cr aqainst aa Ob
agplication lor 1L~ appointm~at o[ a r~i~u !o[, tbs making ol a qensw! asdqnm~nt io~ 1h~ b~n~6t d Q~diton bT, or th~ iuwhrnq d anT ~d) an
{ ~~e eatrT ot a judqm~nt aqaiast anT Obliqor: (A 1h~ iasuing oI any attael~m~nt or qunLhm~nt or t2i~ filinq ot anT li~n. aqainst anl P~~rtT ~~Y
~ Obiiqor: (g) th~ takiaq ot possea~ian d aay substantial part ot iL~ prop~rt~ o! aar Obliqor a! Ihs instanc~ o[ anr qwr~rnm~nul autLodt7• (~l 16~ dis-
~ so:ution. m~rq~r. eoosolidatioa, or r~orqaaisation ol anr Obliqor: lil the uafqm?~nt by aap Mak~r ot anY ~quitr in aay d tL~ CoWt~ral without th~ wriq~u
f cowent ol Hank.
~ Baak shall ha~~. but shall not b~ Umtad !o. th~ iolbwinq riq~b. ~acb ai w6ic~ may b~ ~s~~cis~d at anT tim~ whMhu a aot thb aol~ b dw: N
to pledq~ or transl~r ihL nw~ and ffi~ Collaroral and Bant s6ap thenupon b~ reli~~sd o! all duties aad raponsiblliWs ~u~uad~r and »li~~~d trom
~ any and all fiabilit~ writ6 nap~ct b aap CoWteral w pl~dg~d or tranal~aed. aad any p{~dqN or transl~rN sAall tor a11 p~apasw stand in th~ pLc~ d
~ Baak ha~und~r and ha~~ all t6~ riq6b ot Bank h~n:u?d~r: (i~ to tranatu W~ ~vhol~ os aap put d th~ CoiLt~ral iab tL~ nam~ o[ iWlf or ib nomiaM:
~ ,ui~ to ~ tb~ Coilat~ral: 1i~1 b notilir th~ obliqon on anp CotLl~ra1 to mak~ paym~nt to 8ank ot any amounb dw or fo b~com~ dw tha:wa: b
g demand. ~w for. oolNet. or mak~ aa~ eompromis~ oc aatWm~nt it dNnu d~sirabl~ wilh r~ltr~na to !h~ Cd1aNn1: aad hIJ to Uk~ oontrol ot aaY Froa~ds
~ ot CoW1~raL
Bank fs hsr~bT qi~~n a li~n upon and a s~curitp int~r~st in all pwp~rtf o! ~ach O~liqor now oc at an7 tlm~ h~natbr in th~ poas~uion ot Dank
~ ta any apaeitT wlubw~~r. includinq but not limit~d b anp balane~ or shu~ ot anY d~poatt. vust. o~ aq~acy ac~count, a~ Neuritt !a th~ papm~nt d
~ thu not~. and a simLar 1'an upon and s~curit7 intsrat ia all suc6 prop~rtp d~ach I~[ak~r as Mcurit~ for th~ ps~.msal d all oth~r liabilitip oi wcn MalcK
~ ~o Bank liodudlnq liabiliWs ol ~ach Mak~r aad any othu p~r~an): aad Dank ahall ba~~ Ih~ sam~ riqhts as b such proputr a~ it La~ writh nsp~ b~
~ cottae~ral. -
~ I! Bant dNms iwll ias~cur~ ae upon th~ ooeurr~acy d aar d~~ult A~nuad~r Daak shall ha~~ t6~ nm~diN at a Ne~u~d psrtY und~r th~ Uai-
tora Comm~reial Cod~ aad. without ljmitjnq tL~ q~n~rality d th~ tor~qoinq. Hank ~hall ha~~ 1h~ rig~t, imm~dLe~ly aad witLout lur~Drr aetion b7 it, b
eet oH aqafnat thia not~ all moo~l ow~d b~ Bank io aaT capadtp b weh or an~ Obliqor. wh~U?~r or aot due. and ~Lo b sN od aqala~t all wh~r
lubiUtlM ot wcb D[ak~r io Daak all moo~Y ow~d b~ Daak in anT capacitT to wcb or any l~tak~r, and Daak sDall b~ dMm~d b ba~~ ~:ucL~d such
r5ght o1 wtoN aad b ha~~ mad~ i charq~ aqaiost ~nT wcb monh imm~diat~lr upon th~ oonur~nc~ ~ such d~lault ~~~n thouqh such chuq~. i~ mad~
or ~nt~»d on ~h~ bool~s d Daak subNqu~at th~r~lo. Unl.sE t6~ Collat~ral b p~ri~aW~ or thrsat~ns b d~elin~ spNdilr In ~alu~ or i~ d a yp~ eus-
~ ~omuUy wid on a r~ooqni~d mule~t, Daak will qi~~ Dlak~r rwooabl~ aotie~ at ID~ tlm~ aad p1ae~ d anT publie sal~ t}i~rwi oc ot Ih~ tim~ att~r whicb
y any pri~aN ~a4 oi ae~ oth~s int~aded dispoaitbn tL~»ol b b b~ mad~. 2L~ r~quir~m~nt ot »a~ooabl~ aotia shall b~ mN il such notic~ i~ mailed.
~ postaq~ p»paid. to ao~ Mak~r at tb~ addru~ gi~~a bdow~ or at an~ othu addras showa on th~ r~oords d Ih~ Daak. at l~ast 6~~ da~~ b~lor~ 1b~ tim~
: o! eh~ ~al~ or dispwition. tJpou dispo.i~ion ot aaT Collanral afar th~ oeeurr~aa of anr d~tault hsnund~r. Mak~r aLall b~ and r~main liabb lor anp
~ defici~nc7r: aad Baak asall actount to Mak~r fac anT ~wplu~, but Dank ihaU ha~~ th~ right to applt all or aaT put ot ~ucL surplus (or to bold th~ sam~
~ u a r~wr~~ agaiaW anT aad all oth~r liabilit{M d~ach oc ~n~ Mak~r b saak.
~ Ho d~la~ or omfWioo on tL~ part ot Baak ia ~z~rdaiay any iiqDf hmuad~r shall opuat~ a~ a wat~u ot wch right or d aay oth~r riq6t under
~ chu aot~. Pr~ntmtaL d~maad, prd~st. notin ot dishouor. aad ~st~nafon ot tim~ without noocv u~ b~nby wal~ed bY ~ach and ~~erp Obligor_ 'ib~
Obliqon. ~ointlt aad ~~tallT. promiw and aqcN b paY all eosb ot eoli~ctioo and atlorw~i l~a~ ~qual -b 10~ ot tl~~ piincipal ium or ~uch luq~r
amound a~ ma b~ rwsooabl~ and uq iocvrrd or
,r Y l P+ld bl Bank in ~niorcinq 1hL noN upon th~ oc~curr~nc~ d aaY d~tault. 11nr not3c~ to Mak~r s}?all
bs sutlid~nU7 s~n~d br aU purpow~ i~ platrd ia th~ mall. Pa~ Pt~P+~~• addr~rd b ot 1~tt upoa th~ pnmLq at. th~ addtw~ a6owrn b~low ar aap
othsr addrNS shown oo Baak'~ r~oords.
- 11aka ae~owLd~s r~oNpt ct a oomp4bd ooP7 d tLL Hat~ oa th~ abo~s d~t~.
ADDxr~C I.al'~e~ A'faltgame~tq, M888. OlOSS "~j ~ ~sF•i ,
;s Peter J. Mill~r
F _ Ci`Zfl
~Y~lfiY
- M. Millez
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; BOLK 2y7 ?acE J4$
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