HomeMy WebLinkAbout0548 INSTALLMENT PROMISSORY NOTE
J ENSEN BEAC~-I BANK ~ ~A? A'"°~"t R~~""° s 3~ 500. 00
BANK NAME ~ (91 Premium to~ Credrt 94. 0~
- . Li1~/Disab~lity Ins. S
p. O. Box Jensen Beach, Florida 33457 ic~ ~oc~me~c~~r st~~+w: s 5, 40 -
OFFICE ADDRESS ~ (0) OtAl~ (~?~rp~t (hemi:e) • S NOrie
, . _ . _ . . . - - - IEt - - s None -
~tOTE NO. ' • OATED:J8riL182y~9- - ~ ~s 79_' ~ _ i~ ' ~ . . ~ . None: - .
. , . _ . . _ : , - : .8Z~ I i~t~w~;w~;~t~F~+?,~ea ' _ 3,~599. 4T
ouE: December 21- - - - - ~,~9„ _ ' • B._~: o. E. F~ 's. :
- - - tNl iotHa~ - - s 581. 5? -
P~ACE: Jensen Beach . ~ . - = _ - FioAipA ~ _ tit c..c~i i~ws~g.uon ~ a None ~ . :
: ~ . . : ~ . _ . . . ^ . ~e1 o~he: ' . s ~ None" • ~
Fa vatue received, the u~dersign~d (he~anafte~ cslled "Make?") jointly and severally (if (KI • s None
~n~~e ~han au) prom~se 1o pay 1o the order of the 8ank, at its offic~ listed abow, iM Tou~ - None ~
or PaY~•ems Nrom (N) at rightl 01~ 181 . 04 ~ oo~~~: oarecie 36 . lu'' s -
~ IMI~~.fINANCE ~HARGE
r.~uel monthly inS~li.~nentS 01 S 11 fi 14- . _,ihe tnit- .IH, 1, K,_f.1 _ t 581-. 57
~r:sratlmem d~o^22~ February . ~979 ~ sybsequent instaUme~tsdue on - - e}.'j 8j Qe~
(N! Total ot PaymenayG; W1) S •
cneZ_~E~ay ot each month therea~ter, io9sine..wicn ~ FiNa~ Ba~~OON PAVMEtu7 OF: ' ANNUAL PERCENTAGE RATE i 0• OO %
5 _ None DUE - None-- • _ _ • - . ,19 : . _ . - .
The Bank shall impose a del~rpuency chsrge agsinri_ iM I~Aaker ~ any payment which hu becane due and remsins in detault for a petiod ~n excas ot 10
da~s ~n an amount equa~ to 5°X of tAe amount of'the pri~tip~l pirt.oT tM psymen~~in tNtault. ln tAe event tha~ the Note is ~ot psid in Tull at maturity, sll pay- -
R,enis, whethe. princ~pal, interest or othe~wise, shall besr inttrest ~t ihe maximum le~et r~teallowed undK tAs tews oi the State ot Flo.ida. Alt payments made
he~eunde~ sAsll be trediled iirst to.interest and then to prinCipil, howtver,- in the evenl ot deteulL~ ihe Bs~+k msy, io its sole discretion, apply s~y psyment to
~~terest, pnocipal and/or law(ul charyes then sccrued. It fs tM intention ot the Psrties hereto thst the.provisioas he~e~n thalt not D?wide direi:tly or indirectN
!of the paymeot of s greater rate of interest or the retention~of any other~tharye ihan is"allowed by law. If, foi sriy reason, interest in exoeu oi such tegal nte or
a charge proh~b~ted by law shalt at any time be paid, a~y wth exceis shsll either constitute snd De treated as a payment on tAe principal or be *efund~d duecily
!he Alaker. . _ - - - . - - ~ . -
7ne Maker rt?ay prepay the entire unpaid ba~ar+ee•of the losn st any time- fi the losn is prepsid in tull, accelerated a~efinanced, the Maker shaU recerve a~.
•e'und o~ ~he unearned portion ot the inte~est and insurance prcmiums compu~ed by ihe Rule of 78's method, ezcept that U+e Bank shall be entiUed to retain .
~ m~nimum interest charge ot - - - . _ _ . . : - . - - .
CREDIT LIFE AND CREOIT LIFE d~ ~ISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIREO FOR CREQIT. Such inwrance cove~age is
:~~a+iable a~ the cost des~gnated below tor the term oi the aedit: 1s) S tor Credit Liie Inwrance lb) S - ~
to• Cred~t LiftEi Disab~lity Inw~anCe: ~ . -
Cneck ~ C?edit L~fe Insunnce is des~red on the lite of IV EY L. WIGGINS ~ ~
q~p~_ - ~ B~r~r,aate M2~rCh 3, 1945 ~ - - ~
Sox ? Credil liie ~sability Insurante is des~rtd on " ,
• . - - - ButhdatC
? Gedit Life~and/or D~wbility Insurante is not des'ued.'. - . - - - - - • . ~
Date . - ' • ' : .5ignature.-- . ~
. . . 5~gnature' ~ - ~ ~ -
:.s secur~ty tp. the paymem of the Note the Make? hereby grantc. to the 6ank a security mterest in the following p~ope.qr: 1.A~ 1 Zi BIOC~C 4~,
Indian River Estates Unit ? as~per ~lat recorded in Plat Book 10, Pa~e ?5, St. Lucie County.
and 1975 Hornet Station Wagon I D. A5A087A720470 ~ ~
~~,_iud~ng all i~creases, substitutions, replacemenu, additions and access~o~s the~eto and in the proceeds thereof-(here~naiter called "Collateral"1. This security
il ceres~ shall also secure any other indebtedness or liabif ~ty ot the hAaker to the Bank direct or indirett, absolute or continyent, due or to become due, now ex- ~
~ ~se~ng or he~eaher arising, includ~ng all fuwre advances or loant by the Bank to the Maker_ _ _
~ Tne Bank is also given a tien and s security intnest in all property and securit~es oi the Make~, endo~se~,surety, gua.anwr o. accwnmodation pa.ty of this
ho~e (here~nafter reterred to as the "Obliyors'1, now in or st any t~me he~eaiter coming into the rnntrd, custody or possessio~ o~ ihe Bank, whether tw the ex-
f j,~essed purpose oi being used by the Bank as Collatera~, or ta any other puTpose, and upon arry balance or balances to the credit ot eny accounis, including
~•~sr and agency accounts mamtained vntAthe Bank by any o~ the Obligors, and the Obhgors ag•ce to deliver to the Bank addifronal Collateral or make such
ments m reduction of the p~~~ciPa~ amount oi the loan as shall be sausfactory to the Bank, in the event the aforcmemioned Collateral sfiall decline in value
~ t,ecome unsatisfattory to the Bank. .
Add,tions io, reductions or exchanges o~, or substitutions for the Collateral, payments on account ot this Ioan w i~aeases of tAe same, or othe~ ~oa~s made
~ p~~ ~~aiiy o. r+A~olly upon the Co1lau.al, may from iime to time be made witfiout sffecting che provis~ons ot this Nota The Bank shall exerc~se reasonable ca~e ~n
c^.e c.,stody and preservation ot the Collatera~ to the extent required by app~icable statute, and shall be deemed to have exerc~sed reasonable w~e it it takes such
~_*~on for that purpose as Maker shall reasanably request in wnting, but no omiss~on to doamr att not ~equestedby Ntaker shall be deemed a tailure to exercise
-=sonable care, and no omission lo comply with any r=quest oi Maker shall of itseit be deemed a tailure to exercise reaso~able care_ Bank shall ~ot be bound to
r any steps ~ecessary to p~eserve any rights in the Collateral against prior pa~ties and Maker shat) take aIl necessary steps to. wch purposes_ The Bank or ~ts
~.m~nee need not collect +nterest on, p a prencipal o~, any Co~lateral or give any not~ce with respect to it. : - ,
Tne Bank may conunue to hold any Collateral depos~ted hereunder after the payment of ~his Note, i( attAe t~me of the payment and d~scharge fiereof any o!
~ h_ oarties I~ab~e ior the payment hereof shall be then d~rectly or contingenHY liab~e to the Bank x Maker, e~dorser, wrety, guaranta or accommodat~on pa~ty
nr any other note, dralt, b~tl of exchange, or othe~ instrument, or otherwise, and tbe Bank may thereatter e:ercar a11 nghts w~th respect to said CollaTeral
~ ~n;ed here~n even though this Note shall hare been surrendered to ihe Maker. , _ : _ : _ . . _ _ .
I f the Bank deertn itse~f insecvre a ~pon the happening oi sny oi the tollowing events, earl~ of which shall constituse a default, all Iiabilities ot each Ntaker to
~ ~~e Sank, includ~ng the ent~re u~paid prmcipal of this Note and actrued interett, less anY unearr?ed interest snd any ~ntuat in ezcess ot the maaimum allowed
t.y law and any rebaces requi~ed by 1aw, shall immed~atNy or theresfte~, at the opt~on oi the Bank, except thai ihe occu~rence o~ (cl or (d) shait cause automat-
~~:+cceleranon; w~thow not~ce or demand, becomedue and payable: la) the talu?e ot any ablgor to periorm eny obl~gatiw?,1ab~l~ty or c~aim ~o the Bank, to pay
~~e•est hereon withi~ lOdays atter i~ is due, or it there is no due date, a~cer it ~s billed a otherwise repuated w dema~ded, or to pay any othe~ l~abil~ty what-
s-,:-tir. ~o the Bank when due; (bl the death of any indiv~duM Obtigo., the diudution of eny partnership OWigo~ w the dissdution, merger or oor?sotidatio~ with-
c,.. ; rhe Bank'~ Drior rvritten tonsent of arty corporste Obligpt; (cl the titing ot a pefition in bankruprcy w the adjudica~in~ of insolvency or bankruptcy under
~ a-~v rea~gan~za~~o~, arrangement, read~ustme~t ot debt, dissolutioe, lquidation or similar proueding under any Federal or state statute, by or against anv
~ C~.!~gor: (d) an appticat~on for the ap~ointment ot a reoeiver tor,~or the maku~g ot a general anigrvnent tor the benefit of creditas by,~++y UW i9or; (e) ihe en~ry
~ o'. ~udgment againct any dbligpr; NI the iswing of any ittscMient or gamishment, or the t~ting ot a~y t~en,apa+nst a~y p~ope~ty of:any OW~gor (g) the taking ot
.-sess~on ot any wbstantial part ot the property oi ar+y abtigor a~ the instsnce oi any govemmen~al suthority: (h1 the determinafwn by the Bank that a mate.r.
a~ ~dre.se change hst oec.vrred in the lie?sncia! cor?dition ol s~y Obligor irom tAe conditions set furih in the most recent tinanaat scatement of such OWgor
~ ~e~etotore fumishcd to the Bank, w from the conditio~ oi wch Obligor es Aeretotore most ?ecently disdosed to the Bs~k, o~ that eny wacranty, .eprtsencaT~o~.
~ ce+c~t~cate w siatement oi sny OW~yor (whether motained m this Note o. not) pertaining to or in connection with this Nvte or the loan ev~denced by this Note
cun~ains sn unt.ve sutement o~ material (sCt or omiu to state rr~te•~al fact necesssry in order to make the statements Rwde not mislead~ng: o~, (i) che ess~gn-
~ ment by any AAaker Of any lQuity in sny o~ the Collate?al wnhout the p+io? wr~tten consent O~ tht8ank.
~ The Bank shatl have, but ~hall not-be limited to, tAe ~ollowinp rigAU, exh of wfiich msy be exercised at any time ~r?hethe. or ~pt tA~s Note ~s due: ~o
~ p:edge o. tnnsfer this Note and ~he Cotlaterat and ~he Ba~k shati ~he~e.,pon be rtlieved o~ atl dut~es and ~espa+s~b~ht~es he~eundr and re~~eved ~~om e~y and all
!-i,~iity wi[h respect to eny Collaterel to p?~dged o. transterred, and sny pledgee w t~3nsieree sha~l for all pwposes srand ~n the p~aoe o~ the Bank he~eunde• snd
~ r,~ve all tAe ri9hts of the Ba~k he~eunder; (ii) b transfe~ the whole o• eny part oi tbe Cotlatejs) into tAe name o~ ~tse~~ o~ ~ts numinee: [o vo'P ~he Co~lelera~.
~ (~v) to ~otify the Oblgon o~ any Collateral to make payment to the @a~k _ot sny or ounts due o. to become due ;he~eun: (v1 to demo~d, sue ~or, cunr,ct, o~
rnake any compromise a setdement it der~u des~~able witA rpfe~e~ce to ~he M~~afc~af; end (vi) to fakr p~ssess~on o+ cont.ol of any p~oceeds ol Col~ateia!
~ BOOK t7lJ~ FACE 5"t0 '
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