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HomeMy WebLinkAbout2759 ~ ~ INSTALLMENT PROMISSORY NOTE ss1Y i t ~k ~ IAI Amount Received =~•~~•00 ~ BANK NAME (8) Premium for Credit ~a ~ - LifelOissbility Ins. S ~ ~ i 1939 ~d~? it• ~ ;+r~ 353 ICI Documentary Stamps S ` OFFICE ADDRESS 101 Other Charges Ihemuel S ~ IEI s '4' NOTE NO. " DATED: ~ • 19~=• IFI S IGI Amount Financed u•~~s~ , 19~.. IA, 8, C, O, E, F) S DuE: IHI Interest S ,~r ~ti , FLORIDA III Credo lnvatigation S PLACE: IJI Other S for value reuived, the undersigned Ihereinatter idled "Makei '1 IOintly and severally (if (K) _ ~Or more than pMl promise to pay to th order of flit Bank, at its office listed above. the~o 1 ILI ~ nl PaymNtrillrom INI st rights of ~e~•~ Dollars payable in ~ , the first IMI FINANCE CHARGE ` actual monthly installments of S IH, 1, J, K, L) S 1 ~nstallmenl due on~ 1~ ; 19~., and wbssquent installments due on INI Total of Payments IG + M) S _jj,~ft_i0 tne~~lbay of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE lOT~, % j ~0'+ DUE • 19 The Bank shall impose a delinquency charge against the Maker on any payment wftich has becorrw due and iemains in default fa s period in excess of ~0 ci,,ys in an amount equal to 5% 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- ments, whether principal, interest or otherwise, shall bear interest at the maxinwm legal rate allowed undef the laws of the State of Florida. All payments made Hereunder stroll 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 ~„terest, principal and/or lawful charges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly a indirectly !<,r the payirtent ofa greater rate of interest or the retention of any other charge than is allowed by law. If, for any reason, interest in exuss of such'legal rateor + charge prpAibited by law shall at any time be paid, any wch exuss shall either constitute and be treated ss s payment on the principal or be rofurtdad directly . the Maker. The Maker may prepay the entire unpaid balance of the loan at any time. It the loan is prepaid in full, aculerated or refinanced, the Maker shall receive a ••fand ot. 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 ,n,n,mum interest charge of a6.~0. CREDIT LIFE AND CREDIT LIFE >Yt DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Sue nwrance coverage is :,nWble at the cost designated bklow for the term of the Crtdi4 la1 S 'a' for Credit Lite Insurance Ibl S • Credit Lite & Disability (nwrance: r:nP~k ? Credit Lile Insurance is desired on the life of Bir thdate .:;+pl. 3 ; • ? Credit Lite & Disability Insurance is desired on Birthdate Q Credit Life and/or Disability (nwrance is not desired. ~ 1 / / [7:+tB ~ t~ Slgflaturo . - • - Signature = - As security fro the payment of the Note the Maker hereby Scants to the Bank a --Ty interest m t owing Property: ~1< nclud~irig all increases, substitutions, replacements, additions and accessions thereto and in the proceeds thereof (hereinafter called "Collateral"1-This security :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- j it ~ ng or hereatte? arising, including all future advances or loans by the Bank to the Maker. The Bank is 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 (hereinafter referred to as the "Obligori'1, now in or at any time hereafter coming into the control, custody or possession of the Bank, whether for the ex- ! tressed 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 j *-ust and agency accounts maintair?ed vviththe Bank by any of-the Obligors, and the Obligors agree to deliver to the Bank additional Collateral or make such t ~yments 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 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 i p u t pally or wholly upon the Collateral, may from time to time be made without affecting the provisions of this Note. The Bank shall exercsse reasonable care in :ne 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 ~ct,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 F • ~azonable care,.and no omission to comply with any request of Maker shall of itself be deemed a failure to exercise reasonable care- Bank shall not be bound to +.,ke any steps necessary to preserve any rights in the Collateral against prior parties aril Maker shall take all necessary steps for such purposes. The Bank or its ~~ornrnee 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 accommodation party of any other note, draft, biN of exchange, or other instrument, or otherwise, and the Bank may thereafter exercise all rights with respect to said Collateral q-anted herein even though this Note shag have been wrrendered 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 tr,e 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 Uy law and any rebates required by law, shall immediately or thereafter, at the option of the Bank, exc~t that the occurrence of (c) Or (d) shall cause automat- « acceleration;without notice or demand, become due and payable: lal the failure of any Obligor to perform any obligation, liability or claim to the Bank, to pay ~~:1e+est hereon within lOdays after it is due, or if there is no due date, after it is billed or otherwise requested or demanded, or to pay any other liability what- soever to the Bank when due; Ibl the death of any individual Obligor, the dissolution of any partnership Obligor or the dissolution, merger or consolidation with- - c,ut the Bank's prior written consent of any_ corporate Obtigor; Icl the filing of a petition in bankruptcy or the adjudication of insolvency or bankruptcy under zny reorganization, arrangement, readjustment of debt, dissolution, liquidation Or similar proceeding under any Federal or state statute, by or against any - Obligor; Idl an application for the appointment of a receiver tor, w the making of a general assignment for the benefit of creditors by, any Obligor; Ie1 the entry ,f judgment against any Obligor; Itl the iswing of any attachment or garnishment, or the tiling of any Tien, against any property of any Obligor, Ig1 the taking of possession 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- ;I adverse change has occurred in the financial ~ndition 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 condition of wch Obligor as heretofore most recently disdosed to the Bank, or that any warranty, representation, cerufiWte or statement of any Obligor (whether contained in this Note or not) pertaining to or in connection with this Note or the loan evidenced by this Note c~~ntains an untrue statement-ot material tact or omits to state material fact necessary in order to make the statements rrwde not misleadirg: or, lil the assign- ti 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 ba limited to, the following rights, each of which may be exercised at any time whether or not this Note is due: i to pledge 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 lability with respect to any Collateral so pledged or transferred, and any pledgee or transferee shall for al! purposes stand in the place of the Bank hereunder and have all the rights of the Bank hereunder; (ii) to transfer the whole or any part of the Collateral into the name of itself or its nominee; (iii) to vote the Collateral; I,vi to notify the Obligors of any Collateral to make payment to the Bank of any amounts due or to become due thereon; (v) to demand, we tor, collect, or ~ make any compromise 0f settlement it deems desirable with reference to the Collateral: and (vi) to take possession or control of any proceeds of Collateral. E 1 s soon 304 , 2756 NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION C4C~ F BS 752 Rev. 7/77 _ f _