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HomeMy WebLinkAbout1251 - ~ r' ~ ~ W DISCLOSURE NOTE FO~t +NSTALLMENT LOANS lA) Amount Rate,ved S ~O~U~ _ _ ~ ~ ~r•~k ` • . BANK NAME iB1 Prem,um for Credit 10~00e0p Life/Oisabiluy Ins. S ~~r ~w_ ~ ICI Documentary Stamps S_. q O FtC AO 5 101 OtMr Charges (,temuel S IEI S_~ NOTE NO. DATED: ~_i 19~. IFI S AaN IG? Amount Financed UuE: 1 , ig~_ _ iA, 8, C, D, E, Ft S ~B~el~ tH? Interest = 1S~?~1*6S PLACE: ,FLORIDA (11 Credit Investigapon S IJI Other S For value received, the undersigned (hereinafter called "Maker") lointly and severally (il (KI S more than one) promise to pay to the or~detr o1~twM Bank, at ns office listed above, the Total gh ~1~s7vawl collars payable ,n 1'~.._ ILI S ;,t Payments lirom (NI at ri tl o ' - ~tual monthly installmentsol S ~~fru ,the first IM) FINANCE CHARGE 1SA2~1~b6 IH, 1, J, K, L) S-' riss~ nstallrrtegt due ors ~1 i , 19~, and wbsequent installments due on IN? Total of Payments IG + MI S 41~s7of~~ _ me i day of Hach month thereafter, together vwth a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 1000 $ I~ DUE Mr.~w~~w~M~~Mfa~Mwer~M , t9+~ The Bank shall impose a delinquency charge agsirtst the Maker on any payment which has become due and remains in default for a period in excess of 10 Mays in an amount equal to 9Xi of the amount of the principal pert of the payment in default. In the event that the Note is not paid in full at maturity, all pay- ments, whether principal, interest or otherwise, shall bear interest at the maxinwm legal rate allowed urxfer the Isw. All payments made hereunder shall be credited first to intfrest and then to principal, however, in the event of default, the Bank may, in its sole discretion, apply any payment to interest, principal .,=,dlor lawful charges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly or indirectly for the payment of a greater-rate. of interest or the retention of any other charge than is allowed by law. If, for any reason, interest in excess of moth legal rate of a<cttarge pro- ,bited by law shall at any tune be paid, any such excess shall either constitute and be treated ss a payment on the principal or be refunded 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 ~ refund Of-the unearned ppoortion of the interest and insurance premiums computed by the Ruk of 78's method, except that the Bank shall be entitled to retain e minimum interest of =5.00. CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwranoa coverage is available at the cost designated below for the term Of the uedit: Ipl S 1~_t_~ for Credit Life Insurance lbl S fur Credit Lifeb Disability Inwrance: O~ w MC!'lM1M f'R* Check d Gedit Life Insurance is desired on the life of ~fNSt lishi:i lra>t Birthdate_~s Appl. ? Credit Life dt Disability Insurance is desired on Birtlxfate Box ? Credit Life and/or Disability Insurance is not tied. , Date: ill 1919' Signature - AfTERA0001RE0PpOPERTYYrILLBESUBJECTTOTHE 0 NOE! NESSISSECUREOBYANYSUCNPROPERTY,ASFOLL0IMS: Maker hereby grants to Bank a security interest in the property, if any, described in the space below and in all other property of Maker now or hereafter in Bank's posseuion, artd such security interest shell also secure all other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, present :r future. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. i970 ~s'e01s~t 3!!! !'sla~?~l ?l~il~s IrltA ~7lc10 >tnnnpoYeh~ I.O. M602~ . sot ie3i of Y~p+is>, Otrt at ~Mian Rives, lue• b i~scsibN i~ Kati I~ the Bang requires the Maker td obtain insurance coverage against bu or damage to the collateral securing the Makers indebtedness to the Bank, the Maker •~,av obtain such coverage from any agent, broker or inwror acceptable to the Bank. Ir is jointly and severally covenanted and agreed month the Bank by each Maker, endorser, surety, guarantor, and other party to this note tall of whom are `~e•emafter for brevity called Obligor or Obligors) that: Bank shall exercise reasonable more in the custody and preservation of the Collateral and shall be deemed to have exercised reasonable case if it takes such r~on for that purpose as Maker shall reasonably request in writing, but no omission to comply with any request of Maker shall of ,tself be deemed a failure to exercise reasonable care. Without limiting the generality of the foregoing, the Bank shall have no responsibility for axertaining any maturities, calls, conver- >.on, exchanges, offers, tenders or similar matters relating to any of the Collateral, nor for informing the undersigned with respect to any thereof- Bank shall not !,e bound to take any steps necessary to preserve any rights in the Collateral against poor parties, and Maker shall take all necessary steps for such purposes- Bank us nominee need not collect interest on or principal of any Collateral or give any notice with respect to it. Right is hereby expressly granted to the Bank at its r,frrwn to transfer at any time to itself or to its nominee any Collateral and to receive the income thereon and hold same as security herefor, or apply it on the ;,r rncipal or interest due hereon or due on any liability secured hereby. ~ Upon the happening of any of the following events, each of which shall constitute a default hereunder, or if the Bank deems itself insecure, the entire unpaid j r;.,lance of this note and all other liabilities of each Maker to Bank shall thereupon or thereafter, at the option of Bank, without notice or demand, become imme- •i~arely due and payable: (al failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank or any in- s s?~Iment thereof or interest thereon; Ibl the death of any Obligor; Icl the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, is y or against any Obligor; Idl an application for the appointment of a receiver for, the making of a general assignment for the benefit of creditors by, or the nsoivency of any Obligor; lel the entry of a judgment against any Obligor; Ill the issuing of any attachments or garnishment, or the filing of any lien, against any property of any Obligor; Ig1 the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; { ihl the dissolution, merger, consolidation, or reorganization of any Obligor; (i) the determination by Bank that a material adverse change has occurred in the 's, ':nancial condition of any Obligor from the conditions set forth in the most recent financial statement of such Obligor heretofore furnished to Bank, or from the condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representat,on, certificate, or statement of any c~i,l:gor (whether contained in this note or not) pertaining to or in connection month this note or the loan evidenced by this note is not true; fjl the assignment by •~y Maker of any equity in any of the Collateral without the wntten consent of Bank; Ikl failure to do all things necessary to preserve and maintain the value +~d collectibility of the Collateral, including, but not limited to, the payment of taxes and premiums on policies of insurance on the due date without benefit of ?hv grace period. Unless the <rollateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Bank wJl give Maker rea- s enable notice of the time and place of any public sale thereof or of the time after which a private sale will be held. The requirement of reasonable notice shall - c>e met if moth notice is marled, postage prepaid, to any Maker at the address given below or at any other address shown on the recolds of the Bank, at least ten a ~f:,ys before the time of the sale- Upon disposition of any Collateral after the occurrence of any default hereunder, Obligors shall 6e and remain liable for any -ief~ciency; and Bank shall account to Maker for any wrplus, but Bank shall have the right to apply all or any part of such surplus for to hold the same as a r • eserve) against any aril all other liabilities of each or any Maker to Bank. Bank shall have, but shall not be limited to, the following nghts, each of which may be exercised at any Ume whether or not this note is due: lei to pledge ;r !ransfer this note and the Collateral, whereupon Bank shall be relieved of all duties and responsibilities hereunder and relieved from any and all liability with respect to any Collateral so pledged or transferred, and any pledgee or transferee shall for all purposes stand in the place of Bank hereunder and have all the •:ghts to Bank hereunder: (bl to transfer the whole or any part of the Collateral into the name of itself or its nominee; Icl to notify the Obligors on any Collat- e r a1 to make paynsent to Bank of any amounts due or to become due thereon; Idl to demand, we tor, collect, or make any compromise or settlement it deems rlezrrable with reference to the Collateral; and (el to take possession or control of any proceeds of Collateral- No delay or omission on the part of Bank in exercising any right hereunder shall operate as a waiver of such right or of any other right under this note. No .varver or alteration shall be binding on Bank unless in a writing sgned by an authorized Bank officer, and then only to the extent specifically set forth therein. Presentment, demand, protest and notice of dishonor, are hereby waived by each and every Obligor. The taking of a renewal note without the signature of any rn;iker or endorser liable on this note shall not be deemed a payment or discharge of this obligation arul the liability created hereunder shall continue until this none is paid in full. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys fees equal to 10% of the amount i %:nanced, or such larger amounts aS may be reasonable and just if collected by legal pro r through an attorney at law, includ~ g appellate proceedings. • The uncle/~jj nowledge reteip of a co let c of this note on this date. t 3f111 $SA Ci11='a ~f " (SEAL) Address ` ~/i- ~ Address~lr~ ~~,11 ~ ~ ~ - 1 _ / : ~ ~ - r ' (SEAL) s~ r . ~ ~ - 6G011 t~ll~ F,GEi2t~ ? r 65 7S7 Rev. l /79