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Home My WebLink About1686 t ~ ' ~ ~ ~ INSTALLMENT PROMISSORY NOTE • ~ O! ~ IAl Amount Received S i.~g~e~ SANK NAMF IB) Premium for Credit ~~e~ _ L'i/t/Disability Ins. S 1904 a~~~ ~ J ~h ~ ICI Dotum.ntary Stamps S a OFFICE ADO ES 101 Other Charges litemnze) S ~ IEI S •OM NOTE NO. OATEO: ~AN ' ~ ~ . 19~ IFI S r / IGI Amount Financed ~f~~e~ OUE: ~ /y ~ D ~ , fg~ (A, 8, C, D, E, FI S IHI Interest S~ 111 Gedit lmestigation S ~ t FLACE: ;l~r'~A , FLORIDA ~ IJI OtMr S For value received, the undersigned Ihereinatter tailed "Makei jointly and severally (if (K) Z ~ more than one) promise to pay to the of of tM Bank, at its office listed above, tht jo~ of Payments (from INI at rightl of ta~ Dollars payable in j (L) i equal monthly installments of S ~ ,the first IM) FINANCE CHARGE la,~e~ M IH, 1, J, K, L? S install t des on ~ y ~~t<~ / . 19~ and subsequent installments due on lNl Tots) of Payments lG + Ml S 8 e the of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE ' % S DUE - •owr , 19 M The Bank shall impose a delinquency charge against the Maker on any payment which has btcorne due and remains in default for a period in extra of 10 days in an amount equal to 696 of the amount of the principal part of the payment in default. In the event that the Note is not paid in full at maturity, all pay- rnents, whether principal, interest or otherwise, shall bear interest at the maximum legal rate allowed under the laws of the State of Florida. All payments made hereunder shall be credited first to interest and then to principal, however, in the event of default, the Bank may, in its sok discretion, apply any payment to merest, principal and/or (awful charges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly oa indirectly for the payment of s greater rate of•interest or the retention of any other charge than is allowed by law. If, for any reason, interest in excess of such legal rate a a charge prohibited by law shall at any time be paid, any such excess shall either constitute and be treated as a payment on the principal or be refutttted directly _ to the Maker. The Maker may prepay the entire unpaid balance of the loan at any time. If the loan is prepaid in full, accelerated or refinanced, the Maker shall receive a ~elund of the unearned portion of the interest and inwrance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain ,r minimum interest charge of x6.00. CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREDIT. Such inwrance coverage is available at the cost designated below for the term of the credit: lal S~•bm•~ for Credit life Inwrance Ibl S for Credit Life tlt O'rsabitity Insurance: Check Credit Life Insurance is desired on the life of ~ 11/`1 Appl. ~Qlfr>b Birthdate i s, Box ? Ciedil Life & Disability Insurance is desired on - Birthdate~ ? .Ctedit Lile and/ol Disability Insurance is not desired. Dare: Signature • ~ ~ . ~ Signature As security for the payment of the Note the Maker hereby grants to the Bank a security i rest in the tolk>,nrirg property: ~rrcluding all increases, wbstitutions, replacements, additions and accessions thereto and in the proceeds thereof (hereinafter called "Collateral"1. This security i ;merest shall also secure any other indebtedness or liability of the Maker to the Bank direct or indirect, absolute or contingent, due or to become due, now ex- isting or hereafter arising, including all future advances or loans by the Bank to the Maker_ i ~ The Bank tS also given a lien and a security interest in all property and securities of the Maker, endorser, wrety, guarantor or accommodation party of this Note Ittereinatter referred to as the "Obligors'1, now in or at any time hereafter coming into the control, custody or possession of the Bank, whether for the ex- ~ pressed purpose of being used by the,8ank as Collateral, or for any other purpose, and upon any balance or balances to the credit of any accounts, including t.ust and agency accounts maintained with the Bank by any of the Obligors, and the Obligors agree to deliver to the Bank additional Collateral or make wch i payments in reduction of the principal amount of the loan as shall be satisfactory to the Bank, in the event the aforementioned Collateral shall decline in value E or become unsatisfactory to the Bank. Additions to, reductions or exchanges of, or substitutions for the Collateral, payments on account of this loan or increases of the same, or other loans made partially or wholly upon the Collateral, may from time to time be made without affecting the provisions of this Note_ The Bank shall exercise reasonable care in the custody and preservation of the Collateral to the extent required by applicable statute, and shall be deemed to have exercised reasonable care if it takes such action for that purpose a: Maker shall reasonably request in writing, but no omission to do any act not requested by Maker shall be deemed a failure to exercise reasonable care, and no omittion to comply vrth any request of Maker shall of itself be deemed a failure to exercise reasonable care. Bank shall not be bound to cake any steps necessary to preserve any rights in the Collateral against prior parties aril Maker shall take all necessary steps for wth purposes. The Bank or its nominee need not collect interest on, or a principal of, any Collateral or give any notice with respect to it. The Bank may continue to hold any Collateral deposited hereunder after the payment of this Note, if at the time of the payment and discharge hereof any of the parties liable for the payment hereof shall be then directly or contingently liable to the Bank as Maker, endorser, wrety, guarantor or aceommodation party of any other note, draft, bill of exchange, or other instrument, or otherwise, and the Bank may thereafter exercise all rights with respect to said Collateral granted herein even though this Note shall have been wrrentkred to the Maker. If the Bank deems itself insecure or upon the happening of any of the following events, each of which shall constitute a default, all liabilities of each Maker to the Bank, including the entire unpaid principal of this Note and accrued interest, less any unearned interest and any interest in excess of the maximum allowed by law and any rebates required by law, shall immediately or thereafter, at the option of the Bank, except that the occurrence of (cl or Idl shall cause automat- . ~c acceleration; without notice or demand, become due and payable: lal the failure of any Obligor to perform any obligation, liability or claim to the Bartk, to pay ,merest hereon within lOdays after it is due, or ii there is no due date, after it is billed w otherwise requested or demanded, or to pay any other liability what- G soever to the Bank when due; fbl the death of any individual Obligor, the dissolution of any partnership Obligor or the dissolution, merger or consolidation with- out the Bank's prior written consent of any corporate Obligor; Icl tee tiling of a petition in bankruptcy or the adjudication of insolvency or bankruptcy under any reorganization, arrangement, readjustrttent of debt, diuolution, liquidation or similar proceeding under any Federal or state statute, by or against any Obligor; (d) an application to. the appointment of a receiver (or, or the making of a general assignment for the benefit of creditors by, any Obligor; (eI the entry of judgment agair?st any Obligor; 1(1 the iswing of any attachment or garnishment, or the tiling of"any lien, against any property of any Obligor; Igl the taking of oossession of any wbstantial part of the property of any Obligor at the instance of any governmental authority; Ihl the determination by the Bank that a materi- al adverse change has occurred in the financial condition of any Obligor from the conditions set forth in the most .recent financial statement of wch Obligor heretofore furnished to the Bank, or from the conditioirt of such Obligor as heretofore most recently disclosed to the Bank, or that any warranty, representation, 1 ' certificate or statement of any Obliges (whether gWlttained in this Note or not) pertaining to or in connection with this Note or the loan evidenced by this Note ~ contains an untrue statement of material fact Or omits to state material tact necessary in order to make the statements made not misleading; o?, lil the assign- ~ ~ ment by any Maker of any equity in any of the Collateral without the prior written consent of the Bank. The Bank shall have, but shall not be limited to, the following rights, each of which may be exercised at any time whether or not this Note is due: lil to pieclge or transfer this Note and the Collateral and the Bank shall thereupon be relieved of all duties and responsibilities hereunder and relieved from any and all liability with respect to any Collateral so pledged or trar?sterred, and any pledgee or transferee shall for all purposes stand in the place of the Bank hereunder and have all the rights of the Bank hereunder; (ii) to transfer the whole or arty part of the Collateral into the name of itself or its nominee; (iiil to vote the Collateral; (rvl to notify the Obligors of any Collateral to rtrake payrttent to the Bank of any arttotlbts due or to fxcorrte due thereon; (vl to demand, we for, collect, err make any compromise or settlement it deems desirable with reference to the Collateral; and (vi) to take possession w control of any proceeds of Collateral. NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION B~~K VOit~ ~I,C~~~~V - - FBS 752 Rtv. 7/77