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Home My WebLink About0096 INSTALLMENT PROMISSORY NOTE . pl ~~~l1 ~~Ch IA1 Anwunt Rece~vad - S ie~4~~~ BANK NAME (BI Prem~um for Cretl~t LH~lDisability Ins. S 110M 1934 Ca~aR?ercial St. ~~nstn D~ach. Fl 33457 ~c? o«~~~~a~~ s~aRw: s OFFICE ADORE55 (0) Oth~r Chaiges I~tem~te) S n~~ IEI S R~~ ^:Ul E NO. DATED: ~ . 19Z~• (F) S (G) Amount F~nanced uuE: ~~b ~i , 19~. IA, 8, C. D, E. FI S ~~fQ~•~ IHI Interest S 11.~~.=~0 , J~pi~A 8lACfi ~ , FLORIDA 111 Credit lovest~gation S ~'t ACE: fJ1 Other S ~nf For value recewed, ~hQ undersigned Ihereioaiter caUed "Make~") lo~ntly a~d severally (i~ (K) S Paymenis IM omr (N atto9 1 f[he o?d~r of the Baok, at its olf~ce listed above, the To~al ! ~f016•~ Dollars payable in 1~ S ..n,~,l monthly insta~lments o t S'~~~ 14 , the tiru ~MI FINANCE CHARGE 1 1• • (H, I, J, K, LI S ~ 8 ~ ::~s~ailment due on 16 , 19~, and wbsequent installments due on fN) Total of Payments (G * M) S ~~~ib~~ - -nt I~y of each month therea(ter, to9ecner with a F~N~?l. BAI~oON P~?vMENT OF: ANNUAL PERCENTAGE RATE 10.0A % . wQ~ DUE M~~~~~~~~~~~~~~~~~ 19.~ . Tne Bank sAall impose a delinquency charge aga~nst the Maker on any payme~t which has beccxne due and remains i~ detault fw a period in excess of 1~ s ~n an amount equal to 5% of the amount ot the pnncipal part of the payment in defautt. In the event that the Note is not paid in tull at maturity, all pay- ~•~;~s, whe~he~ pr~ncipa~, i~terest or otherwise, sAall bear interest at the maximum legal rate allowed under the laws oi the State oi Florida. All payments made ~ eunder shall be credited first to interest and then to principal, however, in the event oi default, the Bank may, in its sole d~scretio~, apply any payment to es[, pnnapal and/or lawful charges then accrued. It is the intention of the par[ies hereto that the provisions herein shall not provide direcUy or indirectly ~he payment o1 a grea~er rate ot interest or the retention oi any other charge than is allowed by law. 1(, for a~y reason, interest in excess of wch legal rate or ~~;erge prohibited by law shall at any time be paid, any such excess shall either constitute and be treated as a payment on tlie p~incipal or be re(unded d~rec?ly • ~ne Maker. " The Maker may prepay the entire unpa~d balance of the loan at any Ume. If the loan ii p~epaid in iull, accelerated or relinanced, the Maker shall rece~ve a of the uneamed port~o~ of the interest a~d msurance prem~ums computeci by the Rule of 78's method, ezcep~ that the Bank shall be enutleci [o ~eiain ~>>~n~nwm ime~est charge of ~i.00. CREOIT LIFE AND CREOIT UFE & DISABIUTY INSURANCE ARE VOLUNTARY AND NOT RE~UIRED FOR CREOIT. Such ~nwrance cove~a9e is .;t~ie at the cost des~gnated below for the te~m o( the ued~t: (a) 5 ~a (or Credit Li(e Insurance (b) S ~-edit life & D~sabdity Inwrance: ~ r~ k Credit lite Insurance ~s des~red on the 11fe ol ;:i,~ Birthdate • Ged~t L~~e & Disabihty Insuran~e is deS~red on Birthdate ~ Credrt Lrfe and/or Disability Inw~ance is not des~red. ' ~9/7 l~ Signawre x Q~ 1'M~ tl. ~f S~gnature ? 'L • -+s secur~[y (o~ the payment o~ [he Note the Maker hereBy granu to the Bank a sec rity ~nterest i the Ilowing property: aaid s.nrtaane. - ud~ng all Increases, substitutions, replacements, additions and accessions the~ero and ~n the proceeds thereoi (heremafter called "Collateral"l. Th~s security ~~F~esi shall also secure any other i~debtedness or liability ot the Maker to the Bank d~rect or ~nduect, absolute or conungent, due w to become due, now ex- ny or herea([e. arising, including all tuture advances or loa~s by the Bank to the Maker. The Bank n alw g~ven a hen and a security inlerest ~n all property a~d secunues of the Maker, endorser, surety, guarantor or accommodation party of this ~ ':-,re (here~na(ter reterred to ai the "Ob~igors"?, now in or at any t~me hereafter com~ng into the control, custody or possession of the Bank, whether tor the ex- ! c••~ssed purpose of bemg used by the Bank as Collateral, or fo~ any other purppse, arxl upon any balance or balances to the cred~c of any accounts, ~ncludmg •~,s? and agency accounts maintained wrththe Bank by any of the Obligors, and the Obhgors agree to deliver to the Bank addit~onal Coltateral or make such ments in reducUOn oi the pnncipal amount o( the loan as shall be saus~actory to the Bank, m the event the atorementioned Collateral shall decline in value r,ecome unsaNstattory to the Bank. Add~t~ons to, ~eductions or exthanges o(, or substitut~ons ~or the Collateral, payments on account of th~s loan or ~ncreases of the same, or other loans macle ..~~any or wholly upo~ the Collateral, may trom tirt?e to time be made wlthout af(ecting the p?ovisions of this Note. The Bank shall ezerase ~easonabfe care ~n custody and preservauon ot the Collateral to the exte~t required by appl~cable stacute, and shall be deemed to have exer~ised reasonable care i( it iakes such ! r~on for that purpose as Maker shall reasonably request in writ~ng, but no omission to do any act not requested by Maker shall be deemed a tailure to exerc~se ~sonable care, and no omission to comply wrth any requeit of Maker shall ot rtself be deemed a tailure to exerc~se reasonable care. Bank shall not be bound to ~e any steps necessary to p Es~-ve any rights m the Collateral against pnor parhes and Maker shall take all nacessary steps tor wch purposes. The Bank or rts ~r.+nee need not cotlect mte~est on, o+ a principal of, any Collateral or grve any nnhce with respect to it. The Bank may co~tinue to hoJd any Collateral deposited hereunder a~ter ihe payment o( this Note, ~i at the time of the payment and discharge he~eof any of •ne parues hable for the payment her¢of shall be then d~rectly or conungemly t~able to the Bank as Maker, endorser, su~ety, guarantor or accommodaho~ pa~ty ~i .,ny other note, draft, bill of exchange, or othe~ instrument, or otherwise, and ihe Bank may therea~ter exerc~se ali nghts whh respect to said Collate~ai ;~,~nted herein eve~ though this Note shall ha:~e been surrendered to the Maker. Ii the Bank deems ~tself ~nsecure or upon the happening ot any of the following events, each of which shall constrtute a default, alt t~ab~liues ot each Maker to ; Bank, ~ncluding the enure unpaid pnncipal oi this Note and accrued mrerest, less any unearned ~nTerest and any interest in excess ot the max~mum allowed ;.y law and any rebates r¢qu~red by law, shall immediately or thereafter, at the opt+on oi the Bank, except that the occu~rence of (c) or !d) shatl cause automat- ~cceleration;w~thout not~ce o?demand, becomedue and payable: (a) the failure o! any Obfigor to pe.fo~m any obl~gation, liability or claim to the Bank, co pay re~est hereon within lOdays after it Is due, or i( there is no due date, after it is b~lled or otherwise requested or demanded, or to pay any other I~ab~lrty what- .~ver to the Bank when due; Ib) the death of any individual Obligor, the dissolution o} any partnership Obliqor o~ the dissolution, me:ger or consolidat~cn rath- the Bank's priw written consent of any corporate Obligor; (c) the filmg ot a petrtion in bankruptcy a the ad~udi~ation ot mmlvency or bankruptcy under reorgan~ration, a?rangement, readjustme~t of debt, dissplution, Ipuidation or s~milar proteeding under any Federal or state statute, by or aga~nst any ~~i,~~qor, Id) an app6cation tor the appoiniment o1 a receiver (or, or the making of a general auignment tor the benefit of creditors by, any Obl~gor, (e) the entry -`;udqment agamst any Obligor, (f) the iuuing o1 any attachment or gamishment, or the fiiing of any lien, aga~nst any property o( any Obligor; (g1 the taking of ,sseuwn of a~y substantial Dart of the property of any Obligor at the instance oi any governmental authority; (h) the determination by the Bank that a maten- ~+dve~se change has occurred in the financiat condition of any Obligor from the conditions set torth in the most recent financiai statement oi wch Obt~gor ne~eto(ore furnished to the Bank, o~ from the corxiition of wch Obtigor as heretofore most recently disclosed to the Bank, or that any warranty, representat~on, ~•~~~i~~te or statement of anY Obligor lwhether contained in this Nofe or not) pertaming to or in connection with thls Note or the loan evidenced by this Note c~nra~ns an unt~ue statement of material fact or omits to state matenal fact ~ecessary ~n o.der to make the statements made ~ot mislead~ng: or, (il the ass~gn- ~-~ent by any Maker ot any eqwty in any oi tha Collateral without the prior writien cortstnt of the Bank. The Ba~k shall have, but shall not be limited to, the following rights, each oi which may be exercised at any time whether or not this Note is due: (i) to ~~!edge or transfer this Note and the Coltateral a~d the Bank shall thereupon be relieved of atl duties and ~espons~bilities hereunder and rel~eved trom any and aIl i -~b~l~ty with respect to any Collateral so pledged or trans(erred, and any pledgee or transieree shall tor all purposes stand in the place of the Bank hereunder and -,:+ve all the rights of the Bank bereunder; iii) to transfer the whole or any part oi the Collateral into the nart?e o~ rtsel( or rts nominee; (iii) to vote the Collaterat: ~~~1 to not~fy the Obli~ors oi any Collateral to rt?ake payment to the Bank of any amounts due or to become due thereon; (v) to demand, sue tor, collect, o~ ma~e any comprom~se pr `~ttlement it dellM asirabb with refere~ce to the Collateral; and (vil to take possession or control oi any proceeds ot Collateral. . ~ U R I 9GG!( ~V5 ~AGf ~ NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION ~ BS 752 Rev 7/77 i