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HomeMy WebLinkAbout1394 - - • ~ ,DISCLOSURE NOTE FOR INSTALLMENT LOANS 1 - Lim IA) Amount Received S 1>?~a~ BANK NAME IBI Premium for Cri!dh Life/Osabihty fns. S ~10 19~ ~1"~~ ~•rf R ICI Documentary Stamps S l~~ OFFICE ADDRESS IDI Other Charges (item,:e) S IEl ~ t ~ S ~a)TE NO. DATED: ~Ow •19 , 19 ~ . (FI S IGI Amount Financed '1~~ nuE ~ _,1g IA, B, C, O, E,FI S IHI Interest S elhi•~ P! ACE: +~M ~ ,FLORIDA 111 Credit Investigation S ~ IJI Other 3 ~ For value received, the undersigned (hereinafter called "Maker") jointly and severally (if (KI S ~ more than oriel promise to pay to the order of the Bank, at its office listed above, the Total Payments (from INI at right) of i,f~Mt~ Douars payable in l~ ILL S f~ •r,iual monthly installments of S 1~~ ,the lust IM) FINANCE CHARGE 4 ~ ~ IH, 1, J, K, L) S. • installment due on ~ , 19 and subsequent installments due on INI Total of Payments Ili + M) S [he ~ day of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 10•~ 9L " S ~ DUE ~~!~l~rMr~~•~~~MM•rr. . 19 ea• The Bank shall impose a delinquency charge against the Maker on any payment which has become due and remains in default for a period in excess of ~0 if~iys in an amount equal to ~ of the amount of the principal part o1 the payment in default. In the event that the Note is not paid in full at maturity, all pay menu, whether p?irtcipal, interest or otherwise, shall bear interest at the maximum legal rate allowed under the law. All payments made hereunder shall be iredited first to interest and then to principal, however, in the event of~default, the Bank may, in its sole discretion, apply any payment to interest, principal .,nd~or lawful cha rges then aeerued. It is the intention of the parties hereto that the provisions herein shall not provide directly or indirectly for the payment a greater rate of interest or the retention of any other charge than is allowed by law. It, for any reason, interest in excess of such legal rate or a charge pro- n:ti,ted 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 refunded directly to the ".?~ker. The Maker may prepay the entire unpaid balance of the loan at any time. li the loan is prepaid in full, accelerated or refinanced, the Maker shall receive returxl of the unearned portion of the interest and insurance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain m,nimum interest Charge of 55.00. CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE AR VO UNTARY AND NOT REQUIRED FOR CREDIT. Such inwrance coverage is ,vatlable at the coat designated below for the term of the credit: (a) S 99~.1~ for Credit Life Insurance (b) S hx Credit Life& Disability Insurance: 1~~ Check ~ Credit Life Insurance is desired on the life of ~i+••M ~ Birthdate y~ 19~ Appl. ? Credit Life & Disability Insurance is desired on Birthdate Box ? Credit Lite and/or Disability Insurance is not desired. , Date: Mi~'iA i9~ 19~ Signature = % Signature + ~!4= AFTERACOUIREDPROPERTYWIlt6ESUBlECTTOTHESECURITYINT ESTANOOTHERORFUTUREINDEBTEDNESStSSECU BY ANY SUCH PROPERTY, ASFOLLOYYS: 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 B.:nk's possession, and such security interest shag also secure all otter liabilities of Maker to Bank, whether primary, secondary, direct or contingent, present +uture. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. cos s.ccto. ti, auioo~oa ~oaTS o~ ~~c~, ~s ~srtu~ j»o, u ~~s~sse~ ~ s.ia .o~•, . I' the Bank requires the Maker to obtain insurance coverage against Ions or damage to the collateral securing the Makers indebtedness to the Bank, the Maker • obtain such coverage from any agent, broker or insuror acceptable to the Bank. I, is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other parry to this note (all of whom are ~ . •e:nafter for brevity Called Obligor or Obhgorsl that: i i Bank shall exercise reasonable care in the custody and preservation of the Collateral and shall be deemed to have exercised reasonable care rf it takes such ~~;~n for that purpose as Maker shall reasonably request in writing, but no om,ssion to comply with any request of Maker shall of ,lself be deemed a failure to •~rcise reasonable care. Without limiting the general,ty of the foregoing, the Bank shall have no responsibility for ascertaining any maturities, calls, conver- [;n, exchanges, otters, tenders or similar mattrtrs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof- Bank shall not \ ~ ir~urtd to take any steps necessary to preserve any rights in the Collateral against prior parties, and Maker shall take all necessary steps for such purposes. Bank ±s 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 u~ron 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 ,:•:ncipal 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 ii the Bank deems itself insecure, the entire unpaid ~ :rice of this note and all other fiabdiues of each Maker to Bank shall thereupon or thereafter, at the option of Bank, without notice or demand, become imme- ,•ely due aril payable: lal failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank or any in- :'rnent thereof or ,merest thereon; Ib! the death of any Obligor, Icl the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, against any Obligor; Idl an application for the appointment of a receiver for, the making of a general asvtynment for the benefit of creditors by, or the ~Ivency of any Obligor;"lel the entry of a judgment against any Obligor; If? the sluing of any attachments or garnishment, or the (fling of any lien, against r,, property of any Obligor; 191 the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; n) the dissolution, merger, consolidaUOn, or reorganization of any Obligor, lil the determination by Bank that a material adverse change has occurred in the mcral condition of any Obligor from the conditions set forth in the most recent financial statement of such Obbgor heretofore furnished to Bank, or from condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any ~ 1r;ngor (whether contained rn this note or not) perta,ning to or m connection with this note or the loan evidenced by the note is not true: 111 the ass,gnment by 3 ~ Maker of any eywty m any of the Collateral without the written consent of Bank; Ikl failure to do all things necessary to preserve and maintain the value ^•i collectibihty 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 grace period. Unless the Collateral is perishable or threatens to decline speedily m value or is of a type customarily sold on a recognized market, Bank will give Maker rea- ^able notice of the nine and place of any pubnc sale thereof or of the time after which a private sale will be held. The requirement of reasonable notice shat! • met if such notice is matted, postage prepaid, to any Maker at the address given below or at any other address shown on the records of the Bank, at least ten ::ys before the time of the sale. Upon disposition of any Collateral after the occurrence of any default hereunder, Obligors shall be and remain liable for any " ••':ciency: and Bank shall account to Maker for any surplus, but Bank shall have the right to apply all or any part of such surplus (or to hold ilia same as a •;ervel against any aril all other babJUies of each or any Maker to Bank. - 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: lal to pledge - ~ ~ r~ansfer this note artcf the Collateral, whereupon Bank shall be relieved of all dunes artd responsibilities hereunder and relieved from any and all liability with - aspect 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 ;rill to Bank hereurxfer; Ibl 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.:l ro make payment to Bank of any amounts due or to become due thereon; Id1 to demand, sue for, collect, or make any compromise or settlement it deems ~ :asi.able with reference to the Collateral; and le) 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 .;;:wr or alteration shall be binding on Bank unless in a writing signed by an authorized Bank officer, and then only to the extent specifically set forth therein. ~ c•sentment, 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 r,,:ker or endorser liable on this note shall nor be deemed a paymem or discharge of this obligation and the liability created hereunder shall continue until this • .te is paid in full. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys' tees equal to 10X of the amount - ~ ~ncitd, or such larger amounts as may be reasonable and just rf collected by legal proceedings or through an attorney at law, including appellate proceedings. The undersigned acknowledge receipt of a completed cop t this note on this date. - /l,~ 7- • .~i•ess a~ ~Z ' ~ r (SEAL) [ ~~1 ~ l J •:i:ess ~ ~ f ~".~T.r~_,.,e ~/,..zrr_• (SEALI ris+~lwia ~ ~ob~sts seer 3U5 rA~E1392 Fj _ 7',