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INSTAILMENT PROMISSORY NOTE }
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J~~~`~t (A) Amount Rece~wd 5~,~~~.,._
BANK NAME (B) Pr~mium lor C~~dit
ua~a~ou~~v i~:. s
3~3~ LG~e+al~l ~t.. JMS~ N~el. ~l~id~ i~4i~ ~c~ o«~~,.~~ur s~e~: s--~.:0~.-.-
OF IGE Ap~RE55 OIhN Charq~t (itemiz~) S ~,a ~
.~t~ u , t9~. IEI S
NOTE NO. OATEO: (F) S_ ~
(G) Anwunt Fin~nc~d ~r
OUE:~ ' . JiY~~7 ~ , 19.~. (A. B. C. O, E. FI S
(H) Int~rat S ~~h~
PLACE; J~~ M~ , FLORIOA (I) Cndtt Inwtugal~On s r~
1!1 othar S ~ `
_PW plu~ trc~ived. tM ur~de~synad (hK~in~ftK cslNd "Mak~i'1 lointly and sew~slly (i( ~K) S -A-- '
moe~_~ a+~1. p~om~se to pay to the o~d~r of tM Bsnk, st'Its otfice Iisted above, the ToW •
oi ~eym~n'tt:ltipm (Nl at right) ot'~~~ L Doltars PaYable io (U s ~'~-f ~ t
e~~u~imo~?chN in;tallments ot S 1 , th~ fint ~MI FINANCE CHARGE ,
(H, 1, J. K. L) s ,
~ny~llpx~t ~d~ on t 19,1,~, snd wbsequent installment: due on iN) Totsl oi Payments (G * M1 =
~no~~ a.~.cn moo~n ~e~«es~ce., to~.tn.. w~cn a FiNA~ sA~~ooN PwvMENT oF: ANNUAL PERCENTAGE RATIE'~~~~
~
g , ' „ ~UE . 19
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TT~e ~Bank~s4a11 impose a delinquency charg~ ayqinst the Msk~r on a~N paYm~nt wl+ich hat becane dw and rtrtwins in detault for a psriod in viosisoi lO
ciay~ irr ~n aw~Qunt equal to 5% of the amouot of tAe principal part oi tAe paymcnt ~n delault. (n the eveat thst the Note is not paid in tull at mat4rit~?, al~ paY-
n,e~t~ wiNtMr principat, i~terest o. otherwise, :hall beu i~terest st the rtwximum legel nte allowed under the laws o~ the State of Florida. All psy~iiNt;~mad~ i
here`y~id~c slfsN. b~ c~edited tirst to interest and thet~ to print~pa~, however, in che event of detault, the Bank may, in its sote dictretion, apply..~l:qty(n~ht to ~
~nretekt;.pr1[icipil snd/or lawful charges then acc~ued. It is the intention oi the par~ies he~eto ihat the provisions Aerein shall not provid~ directl~l di ~ict1Y
tor'tt~ jp~yd~ent'6~ a greater rate of interast or the rcte~tiw~ of eml other tAarge than is albwed by law. If, for any reason, interest in excess oi ~ebi}~;r~te or
a chae~~prpHi~itid by law shall at any time be paid, any wch exau sha~I e~ther constitute and be treat~d as a payment o~ lhe principal w b~ retuiidKl dlF~ctly ;
tn clfC MalCer -
Tha Nlpk~ m~y prepay the entire unpa~d bala~ce of the loan at any time. If the loan is prepaid in tull, accelerated or refinanced, the Mlalca si?al! !eCe~~e a ~
~etu~d~of_ tha unearned portion oi the inierest and inwrance premiums computed by the Rule of 78's method, except that ~he Ba~k shatl be erttltbd to ~ewin
.
a mini~tt~in jMarest charge oi s6.fl0. . . ~ ~
CF~EDIT UFE AND CREOIT IIFE & OtSABIUTY INSURANCE ARE VOLUNTARY AND NOT REUUIRED FOR CREDIT. Suth inwraniw.co?w~ge is
ava~lable at i~siost designated below for the term of che aedit= (a) S_~Q• to? C~edit Lite Insurance (b) S ~
i
for Credit 6i1e~ Daabilrty Inw.ance:
Chetk ?(artdit lite tnwrance is desired on the lite oi ~
qppl. ~ Birthdate ~
Box ? G~dit Life de Disability lnwra~te is dasired on ~
~
IrlhdaZt - e~
~1 C~edit L~fe aod/w Disability Inwrance is not des~rcd. . " 1`C^`2~~~,/ i
~..i ~ _ ~,y+c~-c.-
Dace: .~~~t_~~ 1Siy9 Signature ~ ~ ~
:
~
' Sgnature . ~':1--yy~.~ y-__ ~ ~
1
As security (or the payrqent of the Note the MDker hereby gran~~ to the Ba~ uri ~nt r lowirg property: . ~
Lot 116~ ~e~ ZI asti~e~ R+~sorts et a~ ~s 3s! #
a~osla~~ ~
~r,cluding all increases, wbstiiutions, ~eplacements, add~tions and access~ons thereto end in the proceeds thereo( (here~nafter called "Collateral"1_ This sewrity ,
~nterest shaN also secure any other inclebtedneu w liabil~ty of the Maker to the Bank direct or i~dirett, abaolute or contingent, due o~ to become du~, now ex- ~
~sting O~ he~eatter arising, including all future advancrs w loans by the Bank to the Maker. ' ~
Tha 8ank is also given a lien and a seCUrity mtcrest in sll propercy and seturiues of the Maker, endorser, wrety, guarantor or atcommodation psrty of this -
Note (hereinatter iafe+red to as the "Obligors '1, noMr in or at any nme hereatter caning into the rnntrol, custody or possess~on o( the Bank, whether fw the ex- ~
p~essed purpose ot heing used bY the Bank as Collateral, or fw a~y other purpose, and upon a~y bala~ce Dr balances to the c~edit of any accouna, including #
~~us[ and ageney accounts ma~ntained nnththe Bank by am ot the Obligors, and the Oblgors agree to de~iver to the Bank additional Collateral w malce such ;
p•~Yments in ~eduttion of the principal amount ot the loan as shall be sa~nfactory to the Bank, in the event the aforemem~oned Collateral shall decline in value f
I become unsatislactory to the Bank.
Additioru to, ~eductions or exchanges ot, w wbstitutions !o~ the Collateraf, payments on account of this loan o. increases of the same, or other loans made
part~ally or wholly upon the Collate.al, may from time to time be made vr~thout attecti~?g the provisions of this Note. The Bank shall exerc~se reasonable care in
rhe custody arxf prese?vation oi the Collateral to the extent required by app~icable statute, and shall be deert?ed to Aave exercised reasonable care if it takes such
act~o~ for tAst purpose as Make~ shall reasonabiy repuest in writ~ng, but no omission to do any act not requested by Maker shall be deemed a failure to exercise
~easonable wre, and no omiuion to comply with ar~y request of Maker shall ot itsNf be deemed a lailure to exerc~se reasonable care. Bank shall not be bound to '
t.~ke any steps necessary to preserve any r~ghts m the Collatera~ aga~rut priw parues and Maker shall take alI necessary steps tor wch purposes. The Bank or its ~
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nom~nee need not collect interest on, or a principal ot, any Collateral or g~ve any notice with respect to ii. s
~
The Bank may cont~nue to hold any Collateral deposited hereunder after the payrnent o( this Note, if at the time oi the payment and discharge hereof any of
' ihe parties liable for the payment hereo( shall be then duectly or contirx~enUy I~able to the Bank as Maker, endorser, wrety, guarantor or aocommodauon party
of any otl~er note, Ma(t, bili of exchange, w oM~er ~~trument, or otherw~se, a~d the Bank may thereafter exere~se ali nghts w~ih respect to sad Collateral i
g•an[ed herein even though this Note shall have been surrendered [o the Maker.
If the Bank deems itsNt insecure o~ upon the heppenirg ot any of the following even[s, each bf v~fiich shall constitute a default, a11 liab~lities of each Maker to ~
the Bank, intludirg the enti~e ur?pa~d prinCipal of this Note and atcrued interest, leis any uneart?ed inEerest and any ~nterest in extess of the maximum allowed ~
~~y law and any rebates required by law, shall irt~f~ately or thereaiter, at the opuon of the Baok, except that the occurrence of (c) o? (d1 shall cause automat- ~
~c acceleration; without notice or demand, becomedue and payable: (a) the failure ot any Obligor to pertwm any oWigation, tiability or ciaim to tt~e Bank, to pay
i ~nter~l hereon withi~ 10days afc~. it is due, or if the~e ~s no due date, afta ~t is blled a otherwise requestPd or demanded, or co pay any other Iiability what-
scever to the Bank when due; (b) the death of any indrvidual Obligor, the dissolution oi any partnership Obliga or the dissolution, merger w tonsplidation with-
uue the Bank's priw writien consent of any cwpwate Obligor; (c) the fili~g of a petition in bankruptcy w the adjuCication of insolvency ar bankruptcy under
;ny reorganization, arra~9ement, readjustment of debt, dissoluuon, Iquidation or similar proceeding unde? any Fedc~al or state statute, by or against any
Ot,l~gor; (d) an appl~c:ation tor the appointment of a receiver for, w the making of a general assignment for the benefit of creditors by, any Obligor; (e) the entry
of ~udgment against any Obligor: (f) the iswing of any attachment w garnishment, w the filing of any lie~, against any property of any Obligor: Ig) the takirg of
passession of any wbstantial part ot the prope?ty oi any Obligw at the iostence ot any governmental authority; (h) the determinat~on by the Bank that a materi•
a~ adverse ehange has oocurred in the fi~ancwl condit~on of any Oblgw irom the conditio~s set fpth in the most recent financ~al statement ot wch Obligor =
i heretotwe tumisF~ed to the Bank, w(rom the condition ot wch Obligor as heretofore most retently disdosed to the Bank, w that any wa?ranty, representation,
ce.~ificate or statert~t of any. Obligcx (whether co~tained in this Note a not) pertaining to or in connection with this Note or the Ioan evide~ced by this Note
contairu an untrue statement ot mataial tact w omits to state materisl tact necasary in order to make the statements made ~ot misleading: or, ii{ the assi9n-
ment by any Malcer of any equity in any of the Collatera! without the p~ia written consent of the Ba~k.
The Bank shal) have, but shall ~ot be limited to, tha fdlowing ri9hts, each of which may be exercised at any time whether w not this Note is due: to
p~edge or transfer this Note and the Collateral and the Bank sAall thereupon be relieved of all duties and responsibilities hereunder and relieved from any and all
i ~+ab~l~ty with respect to sny Collateral so plerk,~ed or tra~sferred, a~d any pled9ee or transterse shall /w all purposes sta~d in the place of the Bank hereunder and
have all the rights of the Bank hereunder: (ii) to trens(er the whole w any part o~ the Colbte?al into the r?sfne of itseH or its nominee; (iii) to vote the Collateral;
' (~vl co ootify the Obligors oi any Collateral to rtnke payment to the Bank ot any amounts du~ or to bscome due thereon; (vl to demand, we tw, collect, or
~ make a~y compromise w setttemen~ rt deems desirable vrit¢ refs~enc~ to the Collateral; and (vi) to take possession or control oi any proceeds of Collateral.
i { _ ~ S - U R n C~
NOTICE: SEE OYHER SIDE FOR IMPORTANT INFORMATION BCOK ~Vz ?'~,~E 5~u
FBS 752 Rev. 7/77
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