HomeMy WebLinkAbout0796 INST~ALLMENT PROMISSORY NOTE .
FIRST NATIONAL BANK OF FORT PIERCE (A) Am~wnt R~ct~wid s 26, 000. 00
~ 9ANK NAME (B) Prfmium (or Cr~dit 2 6OO OO
Lii./Oassbd~tv ~n:. s , •
Post Office Box 970 Fort Pierce, Florida (C) Oocumtntary Stamps s 43. OS
OFFICE ApORESS (O) OthN CA~~q~t (ltlTisll s none
~E~ s nona
NOTE NO. DATEO:~ NOVQRIb@C 2 , 19~. (F) t tione
(G) Amount F~nsnc~d
ouE November 2 ,19 8$. ~A, e, c, o, e. F~ s 28. 643 _ OS
Iw? ~nc~.~t t 16, 727. 35
Fort Pierce , F~oqioA G~~~ ~~~~~t~o~ t 40. 00
P~ACE: none
u~ o~n.. s
For valw r~ttrv~d. tM und~rsign~d (h~r~insttN tslt~d "Msk~r") IOintly s~d sev~raily li} (KI = nOn~
more than oM) p~omis~ to My t0 th~ otdM O~ tM 8ank, st iti olfic~ lis«d abow, ~ha Total
o~ Psyrntnts Ifrom INl at riqhtl of~45 _ 41Q _ 4O pollHipiVsbl~ ~n (L) s none
eyual mo~tAly installme~ts of S~7~ - a~ .~h~ f~rst FINANCE CHARGE 16 , 767 ~ 35
iH. K, u s
~ns~alln+~nt dw on DeC - Z , 19_~., and wbspu~nt i~sallmeots dw on (Nl Totsl of Payma?tt lG ~ M) s 4 5. 41 Q_ 4~
ina 2 dsy of ~sch rnonth tAlrNftN, co~.ch~. w~~n ~ F~NA~ BA~~oON PAV~ENT OF: ANNUAI PERCENTAGE RATE 1(1,.~A
s nane ~uE non , ~9
The 8a~k shall impos~ s dNinqu~~ty thNy~ s9sinst tht MakN on ~ny WYmtnt whith hu betonN du~ and r~mains in default tor a pKiod in ~xpss ol 10
days in sn ~mount pusl to 59fi ot th~ amount of tM printip~l pait oi tM payma+t in defwlt. In th~ w~nt that tM Noa is not psid in full at msturity, all pay-
mencs, wh~che? p~incipsl, inarat or oth~rwis~, :hs11 bear interat st tM maximum IeSpl rate a1low~d und~. tM laws o~ the Sat~ ot Flaids_ All paymKUS msd~
nereunder shsll b~ u~dit~d first to interest and thM to principsl, howha~, in th~ event of detault, tAe Bsnk maY, in its sol~ disu~tion, apply snY payme~t to
~n~e+esT, pr~ncipal and/or I~wtul charges [hen sccrued. It is th~ intsntion ot the pa•cia hereto chac th~ provisio~s Ae~sin shsll ~ot p~ovide diractty or indinctly
ror the psymMt of ~ g~qt~r rat~ Of int~rese a ths r~tentio~ of sny o~h~. chsrg~ ~han is sllowad by tsw. If, fw ~~y res~on, intaest in sxau of weh le~l rste or
e cna.ge proh~biced by I~w shalt at any [~m~ pe paid, sny wch ~xpss ~1+sll eith~. conscitute and be crqted ss a payment on th~ prir?upsl or b~ ntund~d dirscNy
to the Mak~r.
rhe Msk~rm~y prepsy tht entire unpaid bala~ce of the loan st any time. li the Iwn is prepsid in tull, Kcelencsd or nfinanced, iM Mska shstl rec~iw a
-efund of ihe unea~ned po~t~On of the inte~est and insurance premiums computed by the Rule ot 78's method, except that tht Bsnk shsll b~ entitf~d to rsain
a ~n~mmum interlft Charyf of ~
CREDtT LIFE AND CREOIT LIFE & OISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRE~ FOR CREDIT. Such iewr~nu cowrage is
a~a~:able at tM tost designated belovr fo? tne term o1 the aedir. la) S~• 6~~ . 00 Toint Lf to. c,ee;~ ~~r~ tb? s none
'a~ Credit life 8 Disability Inw.ancr.
Check ~ Gedit lite Inwranc~ is desi?ed o~ tl+~ life of Wiiey T. McCall Naney j. McCall
App~. s~.tt?dace 1~12/49 1/25/S1
gox ? Gedit Lit~ d~ O~sabihty Inwnnce is desirad on
~rthdate -
? Cr~dit Lif~ s~d/or Disability Inwra~ce is not desir~d. ~ _~n
~r ~
~a,. November 2 , 1978 _ sg~~~.~
_ t ~
, • Siy~aturc .
' As security fw the payment of the Not~ the Maka hareby gra~ts to the 8ank a security int t in fdlowiny property:
~ SECOND MORTGAGE ON REAL ESTATE- See over for leaal d' scription ~
~
~ ~ncluding all incrsssa, wbstitutio~n, replscements, sdditions and scctssions thereto and in tAe proceeds thereof (beroinafte. plled "Collstenl"1. Tha s~writy
~n*.erest sha11 slso s~w~~ sriy othe. indebtedness a lisbility of tM Maker to the Bank direct or i~dircec, sbsdute or contirgent, due w to Deeom~ du~, now sx-
~ ~sting or MrNftN irisi~g, including all tutur~ advances a loans by th~ Bu+k to tM Mak~r.
t
~ The Bsnk is alto 9iven s Ifen snd a s~curity intsr~st in all prap~rty snd secur~ties of the Maktr, endorse., wrecy, gusrantw or sccomrno~iw~ psny of this
~ Noie thersinsfcer r~fernd to u ch~ "Obl~ rg to ths contrd, custody o~ possession ot the 8snk, wheche. for tM e:-
i ~go?i '1. now in or at snY tirn~ INr~sictr comi in
~ v~essed purpos~ of Winp w~d by tl+~ Bank as Collsterst. a iw any oMar purpos~, and upon sny bslsnee or balsnets to th~ a~dit o( sny ~oeounes, inetudi~
~ c-ust and sg~ncy actouets m~ir?tain~d withtM Bank by s+~y of tAt Obtigors, and the Oblgors syrae to dNivK to tM Bsnk additionsl Collsttnl or msk~ wch
~ pavments in nduction of tht printipal artwunt of tIN losn as sAsll bs satiafactory to the Bank, in the ~wnt th~ sfpremtntion~d Collat~nl shsll d~diM-in vslue
~ or becomt unsatisfsetory to tM Ba~k.
~ Additio~+s to, nduttion~ or exchs~ges of, or wbstiritio~s tOr tM Collstenl, psymtnts on ectount oi this losn a inueasts of the ssme, w othlr Iosns msd~
~ partialfy w whOlty upon th~ COIlstersl, msy trom tirtM to tirn~ bt made without affectin9 Me prOvisions of thes Nots. Tl~e Baakshsll ~xMCise r~a~on~blt d?s in
~ che custody and presKVStio~ of t1a Collatasl to th~ ~xtent requind by applicsble statute, and sRsll be d~d to ha~t exercis~d reasonsble can ii it takes sueh
~ act~on fw thst purpoM sf Makp shsll ressonably rpu~tt in writirg, but no omiuion co do any sct not requand by Mak~~ shNl b~ d~em~d ~ fsilun co ~xacis~
~ reasonabl~ pn, and no omission to comply wiM sny rpuat of Mskp shall of itself b~ d~emsd s tailun to tx~rtite r~sso~sble dr~. Bank shsll nOt bt bound to
cake any steps netestbry to prt~~ve any rights in tM Collstenl sQsinst priw parties and Msker shall take sll nadssary neps iw sucA purposes. Th~ Bsnk or iu
~ nominee n~~d not colt~et inctnst on. o~ s principal of, sny Coltaanl w 9iw any notie~ wisl+ raspect to it.
~ The Bank may continue to hoW any Coltsteral d~posit~d herwnde~ site. tM paym~nt ot this Noq, if at th~ tirt~ of tM paym~nt and discF+u9e 1~rrw~ sny of
" che partiss liabq iw tM psyment hereof shall bt then dinctly w contingently liabh m the Bank ss Maker, endorser, wnty, gwranta or sccommodstion psrty
~ ~t any othe. note, d?aft, bill oi exchanps, w other instrum~?t, w otl+erwise, and tM Bsnk rt~y ther~after ex~rcise sll righa with rnpect to ssia Collacersl
~ g~3n~ed herein ewe tkouyh this Nott shall hsv~ been wrrend~red to the Maktr.
~ i f the 8ank deems itcNf insecu~~ a upo~ tMs hspptniny of sny of th~ (ollowing evsnts, tach of whicA sAsll Co~titute a default, all lisbilities of esch Mske. to
cr,. gank, inciuding the tntire unpaid principsl of this Note and sccrued int~rpt, leu any unesrned inter~st and s~y intaest in sxpss of the maximum allow~d
~ bv law and any rebates required by Isw, shsll imrtNdistely ot thenaf ter, st the option of th~ Bank, extept thst tM oCCUrrenct of (e) or (d) sAsll caus~ sutomst-
~ ~c acce~ention:witl~out notip a d~msnd, b~oorr»dut aod psysblr. (a) tM failure of am Oblpor to periwm a+y oblgation, liabiliey or clsim to th~ Bank, to pay
a ~nce~est hereon within lOdays sfter it is due, w if th~.e is no dw datt, a(ter it is billed a ocherwis~ requ~st~d or demand~d, a to psy snlr o~her lisbility whst-
saevcr to tM Bank wh~n dw; (b! tht death oi any individu~l Oblipa, th~ dissdutio~ oi any psrtnenhip Obligor a tNs dissdution, m~r~oraa?solidstionwith-
- ouc ths Bank's pciw written consent oi any eo~pwste Obliga; (el th~ filing o( s petition in bsnkruptcy or d~e adjudiqtion of insohieney or bankruptcy under
;ny reorgsmZation, srr~n9ern~nt, readjustrtN~~t of dtbt, dissdution. liquidstion W similar proCeading under sny Federal or sau :atua, by o? sy~inst s~hl
~ Ubi~gor, (d) in spptiation for tM appointrtwot o~ a naiva. fa, o. cha makirp o1 a pen~nl sa~iyerne~t tor th~ b~n~tit of u~ditas by, any Oblyw; th~ entry
of ~udgment a9si?nt snN Oblipw: (f) tM iswiny of sny sttschm~nt or psrnishment. o? th! fil~rq of any lien. s~inst aMr property of uryl Obli9or; ly) tM Ukiny oi
~T' posseuian of any wbstM~tisl pirt of tht prOptrty of sny Obliyor st tM instsnCe of any yov~rnmMtal suthwity: (h) tht d~terminstion by t!~ Bank thst a mstNi-
~ a1 advers~ than~ has ootumd in the finsnCial oondition of any Obli9o? trom th~ conditior?s ftt fprth in the most recent finintisl sUtern~nt of suCh Oblgor
~ h?retofore tumish~d to tM Bsnk, or from tb~ condition of wd~ Obliga st hentofon most r~untiy ditdof~d to the Bank, or that sny wannty, repres~ntatioe,
cerc~t~ut~ d stabm~nt of sMr Oblipw (wh~thK tontain~d in tha Not~ or nod pertsinirq to or in conn~etion with this Not~ w th~ losn evidencrl by this Not~
concains an untrw stat~nt of msterisl fsct or omits to stat~ msterid fact necassry in ordtr to rn~ke tht ststam~nts msd~ not misl~sdinp: o?, (i) tM sssign-
oz menc by any MakN of sny puity in sny of t1N Co1t~tMS1 withouc tlf~ priOr writttn Co+~sMt o/ tFN 8snk.
The Bsnk shsll hsw, but sAsll not bt limit~d to, th~ lollowinp riqhts. ~sch of which msy b~ ~x~rces~d st ~ny tirrw w1+~tha or not this Nou is dw: (i) to
~ piedg~ w tnnsfK tha Noa snd tM CollstNSl and tM Bank thsll tM~eupon b~ hli~wd of sll dutiN snd rhponsibiliti~s MnundK snd rMiav~d from any and NI
~Y I iability witA resp~et to sny Colbtersf to p4cf~d or uarafKnd, and any Pl~dp~ or Vsnst~rN shall lpr sll purpo~s stsnd in tM p1sc~ of tM Bsnk h~nund~ snd
ha all tM rqhu of th~ Bsnk htrwndu: (ii) to nansf~r th~ whob or any ps?t of th~ Co1lst~rN into tM nam~ of iWlf o~ its ewminN: (iii) to von dN Collanral;
- 1~~1 to notih the Obliyort of any Collsteral to msk~ payment to tht 8snk ot any smounts du~ or to b~ean~ dw tF+Kwn; (v) to dem~od, w~ to~, eoll~ct, w '
~ make any compromif~ d settl~mMt ic d~enn d~sinbl~ w+tb r~i~.~no~ to ch~ Cousnrsl; ~nd (vi) to nk~ poss~st7on o~ eonud of srry proa~d~ ot Cotbursl.
r~ ~ ~o~K 297 ~~~E 7~
~ NOTICE: SEE OTMEFi SIDE FOR IMPORTANT INFORMATION
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