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Home My WebLink About0285 ` INSTALLMENT PROMISSORY NOTE ~ ~ (A) Amount R~c~wod S_~~~- BANK NAME (8) Premium fo~ C~edit , Lil~/Disability Ins. Z IC) Oocumenury Stamps S OFFICE A~~R 55 (0) Oth~ Cha~9es (itemizel S • IE! S . NOTE NO. OATEO: FebrUaY'V 8 , 19~. (F) s ~ • (G) Amou~t Financed ouE: FEbruary » , ~g~2, (A, 8, C, O, E, F{ S_~~~.._ . IHI IncK~st S PLACE: ~ . FLORIDA (1) C~~dit tnvatigatioo S ; (J) Othtr S For valw received, tAe unde~signed IhK~inaitK wll~d "Makei lointly and sevt~slly (if (KI s ~ more than on~) promise fo pay to the ordK ot ths Bank, at iK otiice listad abovs, tht Toal s : ot Paymtets ((rom (N) at righd ot~~ Oouar: pavab~e in : S , t~~~ IM? FINANCE CHARGE ecrual monthly installments of S~'~ ' (H, 1, J, K, L) S ~ns~allment due on ~rch 11 , tg 79 , a~d wbseque~t installments due on (N) Total of Psyme~ts (G + M) S ihe llt}~ay of eseh month theraafter, together with a FINAI BAILOON PAYMENT OF: ANNUAL PERCENTAGE RATE _~04.._% ~ g OUE • 19 ~ ` The Ba~k shall impose a del~nqueney charge sga~nst the Mske~ on any~ psYment which hss becar~s due a~d remains ~n detault for a period in exo~ss of 10 f~ days ~n an amouot equal to 5X of the amount of the pri~cipsl pan oi the payment in de(ault. In the event that the Note is not paid in full at maturity, all pay- men~s, whether principal. interest or othe~nrise. shall bear interest at the maxirtwm legal rate allowed u~de~ the laws of the Sta[e oi Florida. All payments rnade hereunder shall be tredited first to inte?est aod the~ to principal, however, in the event oi detault, the Bank may, in its sote discretion, apply any payme~t to s_ ~nterest, prinCipsl and/or Iawiul clwrges then aCCrued. It is intention o1 the pa~ties hereto that the provisions herein sha11 not provide direCtly Or indireCtly !or che psyme~t oi a 9reater rate of interast or the rete ' oi aml other chsrge than is allowed bY law. If, tor any reason, interest in excess of sueh legsl rate or a charge prohibited bY law shall aYanY time be pa~ ny wch excess shall either cons[itute and be treated as a payme~t o~ the pri~cipal or be refunded direcdy c o t he MekEr. The Maker may prepay the entire unpaid ~ce o~ the loan a any time. I1 the ioan is prepa~d in tutl, acce~e~aced w refinanced, the M?ake? shall reteive a ~etund of the unearned portion of tAe inter t a~d inwrance pr w compu the Rule of 78's method, except that the Bank shall be entit~ed to retain m~nimum iMerest tharge of ~1.~. ~ CREOIT LIFE ANO CREOIT LIFE & ISABILITY INSU E ARE LU ARY ND NOT REQUIRED FOR CREDIT. Such insurancecoverage is .~va~table at the cost designated be~ow f'a the te of the credit: (a) S for C ~t Lite Insura~ce (b) S _ to~ Credit Life & Disabil~ty Insurance: Check ? Credit Life Inswance is desired on the life ot ~ - A~~~ Birihdate B.~x ? Gedit Lite & Disability Inwrance is des~red on hdate ~J Credit Life aodlor Disability Inw~ante is not desired. ~ ~ ~~ie February 8~ 1979 ~ sg~at~?e ~ f ~ ~ t Signature As ucurity for the payment oi the Note ihe Maker hereby gra~ts to the Bank a security interest in the following property_ : ~ ~nclud~ng all increases, substitutions, rep xements, additions and acceuions thereto and in the p~oceeds thereoi (hereinafter wtled "Collateral"1. This security ~ ~nterest shall also secure any other indebtedness w ~~ab~~rtY o~ the Make~ to the Bank direct or indirect, abaolute or contingent, due or to become due, now ex- . ~~i 5 , ~scmg or hereafter arising, including all future advances w ~oans by the Bank to the Maker. ; I ° ~ The Bank is also g~ven a lien and a security inte~est in all property a~d securities o~ the Maker, endorser, wrety, guarantor or accwnmodatio~ party of this f No[e (he?eina(ter refe~red to as the "Obligors"l, now in w at any time hereafte~ coming in[o the conerol, cus[ody orpossess~on of the Bank, whether fw the ex- p~ essed purpose of beinq used by the Ba~k as Collateral, or for any other purpose, and upon any balance or balances to the credit of any accounu, including j t~ust arxl agency accounts maintained wnththe Bank by any of ti~e.Obtigors, and the Obligors agree to deliver to the Bank additional Collateral o. make such ~ ~ayments in reduction of the p~incipal amount of the loan as shall be satisfactory to the Ba~k, in the event the a~orementioned Collaterai sha~~ decline in valye ~ o~ become unsatisfxtory to the Bank. . _ Additions to, reductions w exchanges of, or substitutio~s ~or the Collateral, payments on account of this loan or increases of the same, ar otha loans made pa.tially or wholly upon the Collateral, may irom time to time be rrwde without atfecting the provisions of this Note. The Bankshall exercise reasonable care in ~ 4Re custody and preservatio~ of the Collateral to the extent required by applicable statute, and shall be deemed to have exercised reasonable care ii it takes such ac[~on for that purpose as Maker shatl reasonably request in writing, but no omission to do any xi not requested by Maker st~all be deemed a tailure to exercise ~easo~able wre, and no om~ss~on to comply with any request ot Maker shall of itself be deemed a failure to exercise reasonable care. Bank shall not be bound to take any steps necessary to preserve any rights ~n the Collateral aqainst prior parties and Maker shall take all necessary steps ~w such purposes. The Bank or its nom~nee need not collect interest"o~, or a principal of, any Co~lateral or g+ve any notice with respect to it. The Bank may continue to hold any Collateral de~asited hereunder after the payrt~ent of this Note, it at the time of the payment and.disd~arge hereof any of rhe parties liabte for the payment hereof shall be then directly or contingently liable to the Bank as Maker, endorser, surety, guarantor or aocommodation parry of any other note, d.att, bill of exchange, or other instrument, or otherwise, and the Bank may thereatter exercise all ri9hts with respect to said Collateral y~anted herein even though this Note shall have been surrendered to the Maker. ? i If the Bank deems itself insecure w upon the happening oi any of the following events, ead~ of which shall rnnstitute a default, all liabilities of exh Maker to ; the Bank, intluding the entire unpaid principal oi this Note and atcrued interest, less any ur?earned interest and any intereft in exceu oi the maximum allowed ' by taw and any rebates required by law, shall immediately or thereatter, at the optan of the Bank, ezcept that the occurrence of (c) or (d) shall cause automat• ~c accele~ation;without nQtice o?dema~d. becomedue and payaWe: (al the tailure of any Obligor to per(orm any obligatio~, liability w claim to the Bank, to pay ~ncerest hereon within lOdays after it ~s due, or if there is no due date, aiter it is blled or otherwise requested or demanded, w to pay any other liability what- ; ;oever to the Bank when due; (b) the death ot any individual Obli9or, the diuolution oi any partnership Obligor or the dissolutio~, mer9er w oonsolidation with- ~ cu[ the Bank's priw written consent oi any cwporate Obligw; (c) the fili~g of a petition in bankruptcy o~ the adjudication of insolvency w bankruptcy under ~ ' 3ny reorganization, arrangement, readjustment of debt, diuolution, tiquidation or similar proceeding unde? any Federal or state statute, by or against any ; Obligor, (d) an applicatio~ for the appointment of a reteiver tor, a the makirtg of a general assignment for the benefic of creditors by, any Obligor; (e) the entry ~ ~ nf ~udgment agairnt any Obligor, (t) the iswing of aoy attachment or garnishment, or the fiting of any lien, aga~nst any property of a~y Obligor, (g) the takirg of ~ possession of any substantial part of the property ot any Obligor at the instance oi any governmental authority; (h) the determination by the Bank that a materi- ~ ~ a1 adversg change fws otturred in the finanual tondition of any Obligor from the conditions set torth in the most reCent financial statement oi wth Obligor ; I ~ heretofwe furnished to the Bank, or from the condition of wch Obtigor as heretofore most recently disclosed to the Bank, or that a~y warranty, representatio~, 1 certificate w statement of any Obligw (whether contained in this Note or not) pertaining to or in connection with this Note o~ the loan evidenced bY this Note ~ con~ai~ an untrue statement of material fact or omits to state materiai fact necessary in order to make the statertier?ts made not misleadirg: w, (i) the ass~g~- ment by any Maker of any equity in any of the Co~~ateral without the prior w?itten consent of Ihe Bank. ~ The Bank shall have, but shall not be limited to, the followi~g ri9hts, each of which may be exercised at any time whetAer w r?ot this Note is due: (i) to piedge w trensfer this Note and the Collateral and the Bank shall thereupon be relieved of all duties a~d responsibilities hereunder a~d relieved f~om any and all I~ability with respett to a~y Collateral so pledged o? transferred, and any pledgee or transferee shall for atl purposes stand in the p~ace of the Bank hereunder and have all the rights of the Ba~k hereu~der; (ii) to transfer the whole o? any part of the Collateral into the name of itself or its nominee; (iii) to vote the Cotlaterat; l~vt to notify the Obligors ot any Collateral to make payment to the Bank oi any amou~ts due or to become due thereon; (v) co dema~d, we tw, co~~ect. a? ~ make any comPrortlRl~~ ~~t1e~nt it~ d~na desirable with reterence to the Collateral; and (vi) to Wke posseuion or concrol of a~y proceeds oi Collateral. . ' + ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION aCOK~`+~ ~ACE 284 i a5 ~5? ~e., ~ ~ x ~ Y ~ - ~ ~y ~ ~