HomeMy WebLinkAbout0285 INSTALLMENT PROMISSORY NOTE
' ~ DM t 5RM
J~ns~n Btach Hank ~a ~~w~,~~ A«.+wa s 20•000•00
BANK NAMF (8) PrNhium iw G~dit
~ ~iaia..wi+n, = is~~+3f~~-
1939 Co~~rcial St. Jensa~ 8each, Fl 334y1 ~c~ oo~~~~u•v st,mo• s • ~
OFFIC Aooa (D) Otha ChKp~t I~um~:~l : ~
. IEl =
NOTE NO. DATEO: . t9-.~g• IF) S
(G) Amount Finaoc~d •21 ~32•40
OuE: fl~~?hnr 1 ./9_pK (A. 8• C• D. E. f) _
(H) IntKat : ~Z~ ~ •O .
PLACE: ~M~f-~" ~a~h . FlORIOA (1) G~dit Inwstip~tion =
(JI OtMr :
For vslw r~iwd. tIN Yfld~fti9~Nd (hKNM1uI Ci11~O "MakK") lpintly and s~vK~ll~? (if (K) _
more tha~n oM) Wom~s~ to psy to tM adN ol tM B~nlc, st ia of(ip li:ad abov~, tM ToW
S_ 148_4A Oollars payabl~ i~ IL) _
oi Paym~ets I~rom IN! •t riqhtl ot~~
r~iual mo~thly insullm~nts of a~~=R7 , tM r;n~ . ~MI FINANCE CHA T2.616~~ -
(H, I. J. K, l.) _
~nsiallm~nt dw on . 19.~. and wb~Vua+t insallm~nu dw on (N) ToUI ot Paymt~+q (G + M) l~•4~
che~v ot ~sch month tlrrsdter, ioy~cMr with s F~NA~ BA~~oON PAYMENT OF: ANNUAL PERCENTAGE RATE lO~OQ
5 - OUE M~NNMN~~~~M~ ~'8 N
The 8ank sball impos~ a dNi~qu~ney d?arpt apWnst tl+~ Mak~? on uw paY~t ~~~ira in d~fwlt (a ~ paiod in ~xpa of 10
t~ays ~n ~ ~rtaunt equal to 5% of tM amount o( tM principsl part of tM psY~t i~ d~fault. In tM tv~ot thst th~ Note is not psid in (ull at matu?ity, sll pay
R,e~~s, wMther principsl, intere~t a otMrwis~, ~hall bsi. intasst at tM maximum le{~1 nu allow~d und~r tM hws oi ~he Stau oi Fla~ds. All paym~nts msd~t
ne~eunds. shall bs cr~ditsd ti~st to inu~at snd tMn to principsl, how~ver, in tM ~wnt oi detault, tM 8ank may, i~ iri sol~ discretion, spph? N~Y WY~^t to
~nterett, principsl snd/w Iswful charges then aaYUed. It h tM i~t~ntio~ of the pa?ti~s I~sto thst ih~ Provitions ha~ein shsll not prwid~ directly or indirettly
tor ~he p~ym~n[ ot s~sater rsu ot int~rat a ttN roteniion ot sny oti~e~ eA~rp~ chsn a allowsd by law. If, for any rWSOn, intersst in ~xass of wch kysl rate or ~
cna.gr prohibited by 1sw shall ~t aoY time be paid. ~ny weh sxcess sl?all eithar canstitua ~nd be trsaad as s paY~t on tM p?incipsl w b~ retund«f dinctly
the Mike~. -
The Msker msy p~epaY ~he entire unpaid balsnce of the loan at any timt. 11 the loan is p~Waid in full, eccelKated a refinanced. the Maker sl?all receive a
~~~und of the u~earncd portion of the interest and inwra~ce premiums co~~puted by the Rult of 78's method, excapt that tM 8snk shall b~ entitled to recain
, m~mrtwm inte~est Chsrge of 56.00. ~ .
CREOIT LIFE AND CREDIT LIFE di OISABILITY INSURANCE ARE VOLUN'i`ARY AND NOT RE~UIRED FOR CREOIT. Suth inwrs~ce cove~age is
~va~table et the cost despnated below (a tl~e ttrm o( the t~edit- (s) S 1~~~•~ fo~ G~dit Life Inwrance Ibl S
tur ~redit life 8 Disability I~wranCS:
Cneck 7~fJ Gedit Li(e Inwrar~n ~s des~red on tM hte ot ri111W J• ZfC~1ir ~
eirthdate _1~16~A~
g:,x ? Crsdit life di DifeQiGty Insurante is defi.ed o~
Bj ihdate
n C.e~fit Lite and/or D~ssbility (MUranos is not desind. ~ '1. / ~ .
. U V ~~~K:./"_'~v~.~ ~ ~':.a/L
D:. te Sign.ature
- ' i~illiam J. Zechar
~ ~
Signature
As security lor the payment of the Note ~he Maker hereby grants to the 8ank a secur~ty inte~at in the (ollowing prope.ty:
L~t ~~9'ST Section II CUfDQ4R itE50RTS uF AMERICA A? NET'ILES ISLAt~~ a d~scribQd in _~aid
~,a,,r.tg,ag~; t Q~~~1_t P.~ t+~e~vi Tnl,,._2r.i _ I~s'rbl t ane~ac~ieb
,nclud~rg all increases. substiwtions, rYpistements. additioos snd iccessions thereto snd in the poceedt thereof (hereinefter talled "Collateral"1. Thfs seturityl
~nterest shall also fetur! anY othN +ndlbtednets O? (iebility 01 lhR Maker t0 t11! Bank dir2Ct O? indiratt, ab6du(~ ot contin4ent, due a to bscome due, n~w ex-
~sc~ng w he~wtt~? a?isinp, includirg sU tuture advsnca a Iwos by ~he B~nk co the Maka,
The Bank is slio given a lien and s seeur~ty inttr~st in sll p~operty srM sewrities of the Malcsr, endorser, wrety. guarantor w accommodation puty of tnis
Noie (he?eina(tN refNred to ss tht "Obligors'l, now in a at snt? time he.eafter~coming into the co~+trd, custody or possession of the Bank, whether (or the ex•
p~esssd purpose of beiny us~d by the 8ank as CotlaterN, w fw aMr other purpose, and upon s~N bslance w balances to the aedic oi a~y accounn, ineluding
<<ust and apency sctounts ma~nts~ned withthe Bank by sm/ ot tM Obligors, srd Me Obli9ors apree to delive~ to tbe 8aok additional Collatersl w mske wch
navments in reduction oi tht pcintipsl amount of the loan ~ shatl be satis(xtory to the Ba~k, in the evem the aforeme~tioned Collateral shalt deNine in vstue
u~ become unsatntactory to tM Bank. . .
Addit~o~s [o, reduetions w exchanges of, w wbstitution~ tor the Collsteral, payments on socount of Mis loan w increases of the same, or other loans made
p:,~t~a11y or vrholfy upon the Co~late~al, may from time ro time be rt~ade without affectinq ihe provisions of this Note. Tfw Bankshall exercise reaso~able care in
cne cuttody and preservstion of fht Collstard to the extent rpui~ed by applicable statute, and shall be dsemed to hsva exercised reasonable pre if it takes wci~
act~on tor that purpose ss MakK shsll ressonably ~equsst in writing, but no omission to do any act not requested by Maktr shall be deemed a tailure to exercise
-easonabN care, and no omission to comply vmth arryr request oi Maktr shall of itselt be daemad a tailurt to exe~cise reasonsble wre. Bank shall not be bound to
tak! Hliy ft~ps Mceissry to preservt anY rphts in tM Cotlst~nl apairnt prior psrties uM Maker shsll taks sll necessary steps ior such purposes. The Bank w its
nc,m~Me ~Ned nOt tOtlett inter~st On. O? ~ Wioripi~ oi, anY Collateral or qrw any notiCe with ~etplCt to iL
The Bank rtwy continue to hokf ~Mr Collster~l d~posited hereunder ait~r the psyment of thn Note, i1 at the time of ihe payment and discharge hereof any oi
ihe partia~ liable tw the payment Mrsot shali be then dirtctly or conting~ntly lisble to the 8ank ss Make~, endorser, wrety, guarantw or aocommodat~on party
cf any o[he~ note, draft, b~ll of exd+anqt, w other instrumsnt, or othuwist, and tM Bsnk may thereatter exe.cise all ri9hts with retpeet to said Cotlateral
granted he~tin tven thou~h this Note shall hsv~ bNn wr~~ndered to the MskK.
I1 the Ba~k d~ertK itself insscure w upon the happsnin~ ~.t ~nY o1 tM foltowing events, each of which shatl rnnstitute a d~isuit, ali liabilities of exh Maker to
!he Bank, includirg the entire unpaid prinupsl ot this Note .+id sccrued intuest, less any urnarned interest and any interest in exCeu of the maximum allowed
by law and any•~ebates ~equind by isw, sMll imrnsdiacMy w ther~after, st tlw option of the Bsnk, exoept that tAe oocur~e~ce of (c) or (d) shall cause sutomat-
~c acceleration:without notia wdemand, b~oornsdue s~d paysble: (s) th~ fjilure of sny Oblgor to p~rfo~m any oblgation. liability or claim to the Bank, to pay
interest bereOn within ~Odiys eltl~ it is dw, o. if then is no dw dste, atta it is bill~d w otMrwise requated or demanded, a eo psy any otAer liability whac-
sr~ to tt~e Bank when dus; (b) tAe d~sth ot sMr i~dividu~l OAlpa, tM diuolution of sny pe~tnenhip Obliyw or the dissolution, meryer w oonwlidstion with-
out the Bsnk's ptip w?itten cwKtnt ot H?y corporste Oblgor; (c) tM filinq of ~ petition in binkruptcy w the adjudiqcion oi insolvency w bankruptcy under
any rep9snization, arnnpement, rssdjustma?t of d~bt, d~~olution, liquid~tiw~ a similar proceediny u~der any Federa! or :tste statute, by or a~ainst amr
Ohl~gor; (d) a~ ~pPlicstion fw tM appointm~r?t of a r~oeivN tor, a tM mskiny of a~n~ral s~ignment for the b~nelic of creditors by, sny Obliyor; lt) the Mtry
of jud~t spainst wnt Ob~gw: (i) th~ iswing ot sny ~ttachrt~t w~rnishment, w t1N filinp of any lie~, spainst anY prope~tY of any Obligor: (g) th~ tekinp of
possession of any substantial put of the prop~rty ot s~y Oblgor st tM in~anoe o~ any qovtrnmt~tal authwity; (hl tM dstermination by the Bai+k thst a matai-
al adverse tha~yt hss octurred i~ the finantisl tondition ot ~ny Oblipor ftom tM Conditions ~et tOtth in the most recent iinancial ststement ot wch Oblgw
heretofw~ turnished to tM Bank, oc.from tf~e co~dition of wch Oblgor as h~retoton most reoMtty disdosed to the 8snk, or that ~y wuranty, rapresentation,
cert~fitate w sistemn+t of amr Ob~ipor (wheth~? conuin«! in this NoU w not) pNUi~inp to w in eontNttian with this Note or tl?~ loan widenced bY this Not~
con~aim sn untrw sqtem~nt oi mataial faet w omits to sat~ mste~ial fsct nsc~sssry in order to rtfskt tM ~atemmts mad~ not mislead'ug: o?, (i) the assign-
ment by stry Meker ot sny ~quity in sny ot tM Colbttrsl withovt tM prior writte~ to~s~nt of ths Bank. '
The Bank shsll haw, but thsll not be limit~d to, th~ fdlowinp rqhts, qd~ of whidr may bs axercaed at any time whetM? w not this Noa is due: li) to
ptedg~ or trit~sfN Mis Nots s~d tM Cotlatersl snd the Ban1c shslt thtrtupon bt nli~wd of sll dutNS snd raponsibilitiet hereundsr and rsli~wd from any and sll
liability with ret~ct to Mfy Colbtasl so pl~dq~d o~ V~nstar~d. and ~ny pbdp~t or trsnsferN shall (ot all purposes stand in th~ plaoe of the 8snk hf~~urdar and
have all the rqhts of tM Bank Mnunde~; (iii to uatuter the whoN w s~y part of tIN Collstaal into tM nan'~e ot iwl( or its nomirnt; (iii) to vou the Collatenl;
(~vl to notity tM ~n oi ~ny Co{ls~etil to n~ payment to th~ B~r?k oi sny ~mouna dw w to b~carw dw thereon; (v) to demand, we iw, collect, w
make soy compro~ ohaatttl~nwnt`it-dwms dNi?sbl~ wiM niHence to tf~e Coilatersl; and (vi) to uk~ possession or control of sny proaeds oi ColtsteraL
~ aGGx 2Q~ ~
NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION ~ACE 2~
f 95 752 R~v. 7/~7
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