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HomeMy WebLinkAbout2208 t INSTALLMENT PROMISSORY NOTE ~ IA) Jlmounl fieotitred =.~,~t~,~~--- ~~NI~Nq~iAE ~ (B1 f~Nnium fa Credit . - 41fe~atability tree. t ©~l~t St..' J !Lelia iiL~7 lcl tpoouments?y st.mfas i ' ' ~ r ~ :~!"a"~FI E AODttltss 101 Other Cheryee liamital _ NOTE NO. ~ . ~ ~ DATED: t ~_~,.19.~. IF . _ ~ lGl Amount Firtertpd DUE: .19.1 8• C• O, E• FL . i.~~e~ 1111 Inar«t - PLACE• ~ , fLORIDA 111 Credit Investigation ' IJI 'OtMr _ Fa vslw nwived. tM utltMnipt»d (hereinafter plMd "Maker") jointly and teveralh lit IKI ~ ~+~o rrtore than one) promise to ptiy to lM atNr of tM Bank, at its office listed above, tM ToW Dollas payable In I LI , ~ ~ - of Paymenri (from IN1 et ?iEttq of_, ~ ~a - egwl monthly irgtallmems art i' , thsffirst IMI FINANCE CHARtiE _ ~ a_e~_r - lN, 1, J, K, L) ' a..~i~~. installment dw on . 19~,... and subegwrtt irrstaltstlegeE dIN on INI Toth of lPaymenri It3 i+Nf11~~ ~e~~ the~ey of each month therpfter, tooether with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAQE RATA ~e~.,._~ S - ~ ~ .19~ r TM Sank shall irrIPOM • QefinpuencycMrpe against the Maker an arty peyrrtettt•whieh hp baoonte due and rerrnirts in•~tault for a*pNiod in e~tai~ of 10 days in an amount goal to 5'X of tM amount of tM principal part of tM paymMY in default. In tM event that tM Note a t?ptpeid in fyll at maturity, all pay- . merits, wMther principal, interest a otMrwiss, shall bar interest at tM maximum lept rate allowed under tM lavvt of the &tet`e-~of f IorNM. All paymenri made hereunder shall be pedited f xo interest and then to principal, however, in tlq watt of default, tM Bank may, in iri tpN diiCrl~s apply any patirrtent to interest, principal aridly 4v¢u) charpas tMn scaued. It a tM intention of thi parties Mreto that tM provisions herein st~111"it~t directly a indirectly fo. tM payment of a greetir ratr Qf interest a tM rotentan of any other eftsrge that is albwed by law. If, fa-any reason, inhreat b~k~es of such IpN rate a a charge prohibited bylaw shdt at any time be paid, any such expss shattiither constitute and be treated as a payment oq the prgteipal~e'r be refunded directly to the Maker. ~ - The Maker may prepay- tM entire unpaid balartp of the loan at any time. If tM loan is prepaid in full, acplaated or rafirtaltctd, the Maker shall receive a ' refund of tM unearned gallon of tM interact and insurance premiums computed by tM Rule_ of 78's method, exppt that t1ie.Ei+lk etyll be entitled to retain a minimum interest CMrOe Of 56.011. , CREDIT LIFE ANO CREDIT LIFE A DISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREDIT -$uch inwrsnp cowrags is ava~labk st tM cost desiprtated•bNow fa tM term of tM credit: let S e'~"' fa Credit Life Insurartp ibl for Credit Life ~ Disability Irtewairtce: - _ . Check ? Credit Liis Irtwranee is desired on the life of Appl• Birthdate - . Box ? Credit life lh Disability Insurance is desired on Birthdste - ; Q Credit Lifesnd/or Disability Irtwrartce is not desired. ' Date: ~a,- ~1~ Signature - Signature . As securi /a tM payment of tM Note the Maker hereby grants to tM ~ sec inter in following pr ty: a4s ~1~. s.ttsla. t~~ asti..e 1~ess .a! •Rtst »tet~r Ia~a.ti a. _ including all ina~~, substi replscerttenri, additionK and sccassions thereto and in the proceeds thereof Iltereinatter plied "Collateral"I. This security interest shall also secure any other indebtedness a lybility of the Maker to tM Bank direct a indirect, absolute or contingent, due a to become due, now ex-. isung a Mraftar arising, including all future advances a loans by tM Bank to tM Maker. TM Bank is also givat a lien and a security interest in all property and sawritiss of tM Maker, endorser, orrery, gwrancy or accartntodation party of this hole (hereinafter referred to a tM "Obligors"1, now in a at any time hereafter Doming into the control, custody a possession of the Bank, whether fa the ex- t i pressed purpose of"being used by tM Bank as Collateral, a fa any other purpose, and upon any batartce a balances to tM credit of any aocounri, including j trust and agency aaounri maintained withtM Bank by any of tM Obligors, and tM Obligors ogres to dNivar to tM Bank additions! Colbtersl a make such ; f paymenri in reduction of the principal amount of tM loan es shall be satisfactory to tM Bank, in tM event tM afgrementioned Collateral shaft decline in valve o: become urtsatisfstaory to tM Bank. Additions to, reductions a exchanges of, a wbstitutions fa the Collateral, payments on account of this loan a increases of the same, a other loans made II partially a wholly upon tM Collateral, may from time to time be made without sfiectirtg the provisions of this Note. TM Bankshail exercise reasonable care in the custody and presavetion of tM Collateral to tM extent required by applicable statute, and shall be deemed to have exercised rasonable care if it takes such action to that purpose as Maker shall reasonably request in writing, but no omission to do arty act not requested by Maker shall be deemed a failure to exercise .easonable pre, and no omission to comply with any request of. Maker sMll of itsNf be deemed a failure to exercise reasonable pre. Bank shall not be bound to take arty steps necessary to preserve any rights in tM Collaterst against prig parties and Maker shall take all necessay steps fa such purposes. TM Bank a its nomina need not collect interest on, or a principal of, any Collateral or give any notice with respect to it. ` The Bank may continue to hob any Collateral deposited hereunder alter tM payment of this Note, if at tM time of tM payment and discl?arge hereof any of the parties liable fa the payment hereof sftall bs that directly or contingently liable to tM Bank as Maker, endorser, wrety, guaranty or accommodation party of any other rate, daft, bill of e>Sdtange, a other instrument, a otherwise, and tM Bank may thereafter exercise all rigltri with respect to said Collateral granted herein even though this Note shall have ban wrrerdered to tM Maker. If tM Bank dams itself insecure or upon the happening of any of the following events, each of which shall corotitute s default, all liabilities of each Maker to the Bank, inNudirg the entire unpaid principal of this Note and scuuad interest, less any unearned interest and any interest in expss of the maximum allowed by law and srtj? rebates required by law, shall irrtrttadiately athereafter, at tM option of the Bank, except that the ax:urrence of Icl a ldl shall cause autorntat- ic acceleration; without notice ademand, beeomedue and payable: (al tM failure of any Obligor to perfym arty obligation, liability or claim to tM Bank, to pay , interest hereon within 10days after it is due, a if there is no due date, after it is billed a otherwia requested or demanded, a'to pay any other liability what- j soever to tM Bank when dw; lbl the dath of any individual Obligor, the dissolution of any partnership Obliges a tM dissolution, merger or aortsolidation vvith- out tM Bank's prig written consent of arty corporate Oblgor; Ic) the filing of a petition in bankruptcy a tM adjudication of insohroncy or bankruptcy under any reorganization, srrertgenrtent, readjustment of debt, dissolution, liquidation or similar- proceeding order any Federal a state statute, by a against arty Obligor; (dl sn application fa tM appointfrtatt of s receiver fa, a tM making of a general assigrtmer?t fa the benefit of ueditors by, any Obligor; let tM entry of judgment sgairtst arty Obligo?; Ifl tM iswirtg of snY attachment y garnishment, a tM filing of any lien, against arty property of any Obligor; 19) tM taking of possession of any tarbstantial part of tM property of any Oblgor at the instance of any governmanW authority; Ihl tM determination by tM Bank chat a msteri- a1 adverse charge has occurred in the financial condition of any Obligor from tM conditions set forth in the most recent financial statement of such Obligor heretofore furnished to tM Bank, a from tM condition of sutlt Obligor a heretofore most recently disclosed to tM Bank, a that any warranty, repraexttation, s certificate a statement of any Oblgor (whether contained in this Note a rat? partainirg to a in connection with this Note a tM loan evidenced by the Note e contains an untrue statement of material fact a omiri to state material fact necessary in ceder to make tM statements made not misleading; a, lit tM assign- ment by any Makes of any equity in any of tM Collateral without tM pries written oortsent of tM flank. The Bsnk shall have, but shall not be limited to, Use following righri, each of which relay be exsrcaed at any time wMtha a not this Note is due: lit to pledge a transfer thb Nos and tM Collateral and tM Bank shall thereupon be relieved of all duties and responsibilities Mreunder and relieved from arty and all liability with ratpect to any Colbtersl so pledged a tratsferred, and any pledges a trsnsferae shall for all purposes stand in the Plsoe of tM flank hereunder and have all tM rphri of tM flank hereunder; till to transfer tM tMtole a any part of the Collstwsl olio tM name of itsNt a its rtomina: (iii) to vote tM Colbtersl, ~ tiv) to notify the Oblppre,Qf,akty Collet si4 - paymertt to tM Bank of any amounri due a to became dw tMreon; (vl to demand, sw fa, collect, a ` make any cartpromis~_ If.,gtens. it QsisirabM with nferenp to the Colbteral; and lull to take possession a contro~~lhhf any praxeds of Collateral. .BOCK X13 YACE2204 NOTICE: SEE-OTHER SIDE FOR IMPORTANT INFORMATION - FBS 75? Rev. 7/77 - ~ r _