HomeMy WebLinkAbout2767 INSTALLMENT PROMISSORY NOTE "
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~~M ~ ~ IAI Amount Rece?ved S ,
SANK NAME Iel Premium for Credit !>11~M
life/[?inability Ins. _ ~ei
1~ ti~N ~ R ~i4'1 ICI Documentary Startipn t
OFFICE ADDRESS IDI Other Gharges litemi:e) t ~
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^;OTE NO. DATED: ~ u . 19 lFl s ~
ouE 1` , 19p lGl ~A e c Fo, 6~F1 s ~ 1~
IHI Interest S 3
MACE: ,FLORIDA 111 Credit Investigation S ~
IJI Other i ~ '
For value received, tM undersigned (Mreinatter called "Maker") jointly and severally (if ~ i
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more than one) promise to pay to tl~~rt~~( ihR,~a^k. at its offiq listed above, t~~tal !LI = ~
of Payments (from INl at right) of ~~~~,~p Dollars payable in lM! FINANCE CHARGE ~ j
r,jual monthly install is ,the first (H, I, J, K, L) S 1 ~
nscau nt due on , 19_, and wbsequent installments due on INI Total of Payments IG + M) S ~
the 1~ day of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE % '
OUE • f9 '
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The Bank shall irtKloss s delirrquerrcy charge against the Maker on any WYE^t has become due and remains in default for a period in excess of 10 i
~j,,ys rn an amount equal to 5% of the amount of tM principal part of the PaY^'w^t in default. In the event that the Note is not paid in full at maturity, all pay-
~,ents, whether principal, interest or giherwise, shall bear interest at the maximum legal rate allowed under the Isws of the State of Florida. All payments made
r,e,eunder shall 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
nte,est, principal and/or lawful charges ;.'.en accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly or irxlirectly
the payment of a greater rate of interfsi or the retention of arry other charge than is allowed by law. If, for any reason, interest in excess of such legal rate or
charge prolrrbitad by law shall at~any time be paid, any such excess shall either constitute and be treated as a payment on the principal or be returrded directly
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 a f
. +und of 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
,~nrmum interest charge of 65.00. - ~
CREDIT LIFE AND CREDIT LIFE dr DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such insurance coverage is
..,~~able at the cost desgnated below for the term of the credit: lal S for Credit Life Inwrance (bl S
Credit life & Disability Inwrarrce:
r~.-ck ? Credit Life Insurance is desired on the life of
Birthdate
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? Credit Life & Disability Insurance is desired on
Birthdate
II Credit Life arrdlor Disability Inwrance is not desired. - ~ {
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,,P Signawre.
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Signature t ~ ~~~a
As security for the payment of the Note the Maker hereby grants to the Bank a security interest in the following property: ~ i~a~~~ot~ a
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!udrrrg all increases, substitutions, replacements, additions and accessions thereto and in the proceeds thereof (hereinafter called "Collateral"?. This security
merest shall also secure any other indebtedness or liability of the Maker to the Bank direct or indirect, absolute or comingent, due or to become due, now ex-
> r ng or hereafter arising, including all future advances Or loans by the Bank to the Maker.
The Bank K also given a ben and a security interest in all property acrd securities of the Maker, endorser, surety, guarantor or accommodation party of this
`rote (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- {
' c~ essed purpose of being used by the Bank as Collateral, a for any other purpose, and upon any balance or balances to the credit of any accounts, including
•~~.~st and agency accounts maintained with the Bank by any of the Obligors, and the Obligors agree to deliver to the Bank additional Collateral or make such
n,ents 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
t !,ecome unsatisfactory to the Bank.
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~ Additions to, reductions o¦ exchanges of, or substitutions for the Collateral, payments on account of this loan or increases of the same, or other loans made
t~atly 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
+r.e 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
t,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
t ~~:,sonable care, acrd 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
~..KP any steps necessary to preserve any rights in the Collateral against prior parties and Maker shall take all necessary steps for wch purposes. The Bank or its
~~~~mmee 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 contrrrgently liable to the Bank as Maker, endorser, wrety, guarantor or accommodation party
any other note, draft, bit! of exelrange, or other instrument, or otherwise, and the Bank may thereafter exercise all rights with respect to said Collateral
:;-rnted herein even though this Note shall have been wrrendered to the Maker-
I fthe 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
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
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-
,cceleration;without notice or demand, become due and payable: (a? the failure of any Obligor to perform any obligation, liability or claim to the Bank, to pay
~~~terest hereon within lOdays after it is due, or it there is no due date, after it is billed or otherwise requested or demanded, or to pay any other liability what-
s soever to the Bank when due: lbl the death of any individual Obligor, the dissolution of any partnership Obligor or the diswlution, merger or consolidation with-
,ut the Bank's prior written consent of any corporate Obligor: lcl the filing of a petition in bankruptcy or the adjudication of insolvency o. bankruptcy under
,-~y reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceeding under any Federal or state statute, by or against any
' C~ ~I Igor; ldl an application for the appointment of a receiver for, or the making of a general assirp?ment for the benefit of creditors by, any Obligor; lel the entry
.,s judgment against any Obligor; Ifl the iswirrg of any attachment or garnishment, or the filing of any lien, against any property of any Obligor-, Igl 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-
at adverse change has occurred in the financial condition 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,
ceru(itate O? 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 ontairrs an untrue statement of material fact or omits to state material fact necessary in order to make the statements made not misleading; pI, lil 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 following rights, each of which may be exercised at any time whether or not this Note is due: lil to
pledge a trarrsier this Note and the Collateral and the Bank shall thereupon be relieved of all duties and responsibilities hereunder and relieved from any acrd all
i~ab,lity with respect to any Collateral so pledged or 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 or airy part of the Collateral into the name of itself or its nominee; (iii) to vote the Collateral;
+.vl to notify the Qali~ors of any Colla{ery to make payment to the Bank of any amounts due or to become due thereon; Iv) to demand, we fa, collect, or
rrwke any comprofnjse tr slttlement'It'dilnnte desirable with reference to the Collateral; and (vi) to take possession a control of any proceeds of Collateral.
° k 3U4 ~ ~ 2764
g00K AG.
~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION
~ F BS 752 Rev. 7/77
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