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Home My WebLink About2298 ~ INSTALLMENT PROMISSORY NOTE t t ~ IAI Amount Recaved S Z a~r,m J~~ (B) Premium for Credit BANK NAME Lib/Disability Ir>:. S ~ ~ 1~~g ~~<s ICI bocumentary Stempi~ S OFFICE ADDRESS ,7 IDI Other Charges litemiie) S~_ IE) s NOTE NQ OATEO: ..1 . 19-~• IFI S ~ IGI Amount Financed DUE: i , 19_a~. lA, B, C, D, E, F? S IHI Interest S -~1,~.- PLACE: ~ ~ ,FLORIDA 111 Credit Investigation S _T IJ) Other S Fw va1W received, the undersigned (hereinafter utled "Maker") jointly and severally (if IKI S_ more than one) promise to pay to the order of tM Bank, at ip office listed above, the Toal of Pavmerits !from lNl st right! of Sllels~-i0 Dollars payable in _~Q_ ILL S ~ ` equal monthly ir?stallments o1 S x=~~ ,the tint lMl FINANCE CHA~i(iE s , IH, 1, J, K, L) S ~nstaQmMt due On ~1 1 , 19~s.7, and subsequent installments due on INI Total of Payments IG + M) S ~ tree j~day of ssch month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE .RATE lA_m ' - % g , ~ DUE .19 - The Bank shall impose a dNirrgtrencY charge sgsinst the Maker on any payment which has become due and remeiM in default for a period in ext~ess of 10 days in M amount equal to 5% of the amount of the principal part of the payment in delsult. In the went that the Note is not paid in full at maturity, all pay- rients, vrrhethe( principal, interest w otherwise, shall boar interest at the maximum legal rate allowed under the laws of the State of Florida. All payments made nere•,ndeushkll'be credited first to interest and then to principal, however, in the event of default, the Bank may, in its sole discretion, apply any payment to ~nreres<t, principal end/w lawful charges then accrued. It a the intention of the parties hereto thaCthe provisions herein shalt not provide directly or irdirectiy t:tr the-psymant of s greater rate of interest w tfte retention of.any other chsrga than is allowed by law. If, for any reason, interest in excess of such legal nta w a charge prohibited by law shall at any time be paid, any such excess shalt either constitute and be treated a: a p~yrnertt on the principal w be refurKled directly ; t ne Maker.. - The Maker may Prepay the entire unpaid balance ot-the loan at any tirr?e. If the town is prepaid in full, aooelerated or refinanced, the Maker shall receive a -~~lund of 4M unearned portion of the interest and inwrartce premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain minimum interest charge of x.00. ~ ~ - CREOIj' LIFE AND CREDIT LIFE dr DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such insurance coverage is ~verlable at the cost designated below for the term of the credit: lal S ""a" for Credit Life Inwrance Ibl S +er Credit Life & Disability Inwrance: Check ? Credit Life Inwrance is desired on the life of app!. $irthdate B~~x ? Credit Life & Disability Inwrance is desired on - _ Birttdate Credit Life andlw Disability Inwrance is not desired. , t~~~ ~1 Signature = ~vt+•cs-r,-,. Zw. " l J<rte ~llrtl~ t. std! Signature As security for the payment of the Note the Maker hereby grants to the Ban a securrry interes rn t following property: e f e • } +ncludirg all inueases, substitutions, replacements, additions and accessions thereto and in the proceeds thereof (hereinafter called "Collateral"). This security I ~ncerest shalt also secure any other indebtedness w liability of the Maker to the Bank director indirect, absolute or contingent, due w to become due, now ez- ~it~ng Or hereafter arising, incltding all future advances w loans by the Bank to the Maker. The Bsnk it also given a lien and a security interest in all property and securities of the Maker, endorser, surety, guarantor or accommodation party of this tvute (hereirwtter 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 Bank 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 vrnththe Bank by any of the Obligor, and the Obligors agree to deliver to the Bank additional Collateral or make such ;payments in reduction of the principal amount of the loan as shat) be satisfactory to the Bank, in the event the aforementioned Collateral shall d_ eclirte in value ,,r become unsatisfactory to the Bank. Additions to, reductions w exchanges of, or substitutions for the Collateral, payments on account of this loan w 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 I tree 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 I ~ 3ct~on for that purpose as Maker shall reasonably request in writing, but no omission to do any act not requested by Maker shall be deemed a failure to exercise easonaWe pre, and no omission to cwnply with any request of Maker shall of itself be deemed a failure to exercise reasonable wre. Bank shall not be bound to B r,Re any steps necessary to preserve any rights in the Collateral against prior parties and Maker shall take all necessary steps for such purposes. The Bank or its nominee need not collect interest on, w a principa! 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, it at the time of the payment and dis~arge hereof any of the parties liable for the payment hereof shall be then directly or contingently liable to the Bank as Maker, endorser, surety, guarantor or accommodation party ref 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 yranted herein even though this Note shall have been wrrendered to the Maker. I f the Bank deems itself insecure w upon the happening of any of the following events, each of which shall constitute a delsult, all liabilities of each Maker to tree 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 ( t,y law and any rebates required by law, shall immediately or thereafter, at the option of the Bank, except that the occurrence of Ic! or Idl shall cause automat- ~c acceleration; without notice w demand, become due and payable: la) the failure of any Obligor to perform any obligation, liability or claim to the Bank, to pay ~r~terest hereon within 10days-after it is due, or if there is no due date, alter it is billed w otherwise requested or demanded, or to pay any other liability what- I s sever to the Bank when due; (b) the death of any individual Obligor, the dissolution of any partnership Obligor or the dissolution, merger w consolidation with- $ r;ut the Bank's prior written consent of any corporate Obligor; Ic1 the filing of a petition in bankruptcy or the adjudiption of insolvency or bankruptcy under a trey reorganization, arrangement, readjustment of debt, dissolution, liquidation w similar proceeding under any Federal w state statute, by or against any Ot~ligOr; Id1 an application foi the appointment of a receiver for, w the making of a general assignment for the benefit of creditors bY, any Obligor; lel the entry ~f ludgntent against any Obligor; lfl the iswing of any attachment or garnishment, or the tiling of airy lien, against any property ot.any Obligor; Igl the taking of possession of any wbstantial part of the property of any Obligor at the instance of any governmental authority; (h) the determination by the Bank that a materi- a! adverse change has occurred in the financial condition of any Oblgor from the conditions set forth in the most recent financial statement of wch Obligor heretofore furnished to the Bank, or from the condition of wch Obligor as heretofore most recently disdosed to the Bank, w that any warranty, representation, - cerrifipte w statement of any Obligor (whether contained in this Note or not) pertaining to or in connection with this Note w the loan widenced by this Note concerns an untrue statement of material tact or omits to state material fact necessary in order to make the statements made not misleading; w, lit 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 followirrq rights, each of which may be exercised at any time vrAtether w not this Notts is due: lil to p:edge or transfer this Note and the Collateral and the Bank shall thereupon be relieved of ell duties and responsibilities hereunder and relieved from any and all Lability with respect to any Collateral so pledged w transferred, and any pledgee or transferee shall for all purposes stand in the place of the Bank hereunder and nave all the rights of the Bank hereunder; (ii) to transfer the whole w any part of the Collateral into the name of itself w its nominee; (iii) to vote the Collateral; f iv) to notify the Obligors of any Collateral to make payment to the Bank of any amounts due or to become due thereon; Ivl to demand, we for, collect, o? 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. . ~ i. . > BooK 3U2 ~~,,F2298 _ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION i F BS 752 Rer. 7177 - - i C ~ _ /r° Y._~ _