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HomeMy WebLinkAbout1554 r.,.._ . ,y DISCLOSURE NOTE FOR INSTALLMENT LOANS lAl Amqunt Received S ~kNK NAME Iel Premium for Credit _~1~~~- Life/I]isabihty Ins. S _ i9~ ai~ _ ham! ~MiM ~iC~f~ ~ 3~~b7 _ lCl Oowmentary Stamps S ~7~'~ OFFICE AODitE55 101 OtMr Charges (itemize) S LEI S_ 10O! NOTE NO. DATED: ~1 1~ . 19 ~9. IFl S ICI Amount Financed 19 u . fA, B, C, O, E, FI S 11o~7e~ i _ , IHl Interest S ~.1~l.Sl P!_A E: '~~M ~ ,FLORIDA (11 Credit Investigation S ' . lJl Other S ' For value reserved, the undersigned (hereinafter called "Maker") Jointly and severally (if IKI S ffbY . more than one) promise to pay to the or f i~hg Bank, at its oflite listed above, the Total ,,f Payments (from INI at right) of 14l~l~eW Dollars payable in ~ ILl S equal monthly installmenK of S ,the first (M) FINANCE CHARGE 3~1S1s1 IH, 1, J, K, LI S installment due on ~_=i , 19,~~, and wbsequent installments due on fNl Total of Payments !G + MI S 14lbise~ che~ay of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 10e~ % ~ 5 DUE , 19 The Bank shall impose a delinquency charge against the Maker on any pay t which has become due and remains in default for a period in excess of 1U trays in an amount equal to 9!(i of the amount of the principal part of tM pay nt in default. In the event that the Note is not paid in full at maturity, all pay- menu, whether principal, interest or otherwise, shall bear interest at the maxim m legal rate allowed under the law. All payments made hereunder shall be credited first to interest and then to principal, however, in the event of default, t Bank may, in its sole discretion, apply any payment to interest, principal and/or lawful cha rges then axrued: It is the intention of the parties hereto that the rovisions herein shall not provide directly or indirectly for the payment , c,f greater rate of interest or the retention of any other charge than is allowed by I If, for any reason, interest in excess of such legal rate or a charge pro- nrb~ted by law shall at any time be paid, any such excess shall either constitute and treated as a payment on the principal o? be refunded directly to the h1a er. The Maker may prepay the entire unpaid balance of the loan at any time. It t oan is prepaid in full, accelerated or refinanced, the Maker shall receive a r'RRfund of the unearned poi iion of the interest and insurance premiums computed by t e Rule of 78's method, except that the Bank shall be entitled to retain a rftcnimum interest charge of iS.~. CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE I~RF= VQLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwrance coverage is a~ailable at the cost designated below for the term of the credit: lal S e for Credit life Inwrance Ibl S ~'a"' f9r Credit Life& Disability Inwranee: , C~eck ~ Credit life Insurance is desired on the lice of ~i~ Birthdate sA Z9~ APpI, L'9 Credit Life Insurance it desired on 1tllffis>rN ~ri~ Birthdate x ? Gedit Life and/or Disability Insurance is not d ed. Date: Signature 'gnature s ~J P = ~ ~`y ` r AFTERA OUIREDPROPERTYwILLBESUBIECTTOTHESECURITYI 0 RORF REINDEBTEDNESSISSECUREDBYANYSUCH PERTY,ASFOLLOWS:~ Make hereby grants to Bank a security interest in the grope , if y ascribed in the space below and in all other property of Maker now or hereafter in Bank's ion, and such security interest shall also secure al other ilities of Maker to Bank, whether primary, secondary, direct or contingent, present or f uture. T aforesaid security interest excludes the Makers primary r idence unless said primary residence is described below. LOt i~t! BfK~A11 II! ON=DOOii< Off' ~IC~ AI ~rtLltV Imo! ~Ifr ~i!!~i itl~ IMir allos~lpti - If t Bank requires the Maker to obtain insurance coverage against loss or damage to the collateral securing the Makers indebtedness to the Bank, the Maker may rain such coverage from any agent, broker or insuror acceptable to the Bank. _-fi is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other party to this note (all of whom are r ~ereinaiter for brevity called Obligor or Obligors) that: Bank shall exercise reasonable care in the custody and preservation of the Collateral and shall be deemed to have exercised reasonable care if it takes such actcon for that purpose as Maker shall reasonably request in writing, but no omission to comply with any request of Maker shall of itself be deemed a failure to ~ exercise reasonable care. Without limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaining any maturities, calls, conver- t soon, 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 ~ t?e bound to take any steps necessary to preserve any rights in the Collateral against prior parties, and Make+ shall take all necessary steps for such purposes. Bank r~r its 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 option 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 principal or interest due hereon or due on any liability secured hereby. E Upon the happening of any of the following events, each of which shall constitute a default hereunder, or if the Bank deems itsell insecure, the entire unpaid .,:~ianceof 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- :tiately due and 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- s2<ilment thereof or interest thereon; Ibl the death of any Obligor; Ic1 the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, I t,y or against any Obligor, Idl an application for the appointment of a receiver tor, the making of a general assignment for the benefit of creditors by, or the ~nsolvenCy of any Obligor; lel the entry of a judgment against any Oblgor; If? the issuing of any attachments or garnishment, or the filing of any lien, against any property of any Obligor: Ig) the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; ;hl the dissolution, merger, consolidation, o? reorganization of any. Obligor; (i) the determination by Bank that a material adverse change has occurred in the financial condition of any Obligor from the Conditions set forth in the most recent financial statement of such Obligor heretofore furnished to Bank, or from ilia condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any pi>ligor (whether contained in this note or not) pertaining to or in connection with this note or the loan evidenced by this note is not true; Ij1 the assignment by ::r,y Maker of any equity in any of the Collateral without the written consent of Bank; (k) failure to do all things necessary to preserve and maintain the value ;:nci 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 ilia grace period. Unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Bank will give Maker rea- s ,sable 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 met d such notice is mailed, 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 ct ,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 r!efiCieney; and Bank shall account to Maker for any surplus, but Bank shall have the right to apply all or any part of such wrplus (or to hold the same as a reserve) against any and elf other liabilities 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 transfer this note and the Collateral, whereupon Bank shall be relieved of all duties and responsibilities hereunder and relieved from any and all liability with i respect to any Collateral so pledged or transferred, and any pledgee or transferee shall for all purposes stand in the place of dank hereunder and have all the -~ghts to Bank hereunder: (b1 to transfer the whole or any part of the Collateral into the name of itself or its nominee; Icl to natity the Obligors on any Collet- ' eral to make payment to Bank of any amounts due or to become due thereon; ldl to demand, we for, collect, or make any compromise or settlement it deems E ctesrrable with reference to the Collateral; and (e1 to take possession or control of any proceeds of Collateral. No delay or orrussion 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 ~.vaiver 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. ~ 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 maker or erxforzer liable on this note shall not be deemed a payment or discharge of this obligation and the liability created hereunder shall continue until this i ! ^.r~te is paid in full- The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys" fees equal to 1f1% of the amount E,nanced, or such larger amounts as may tx reasonable and just if collected by legal proceedings or through an attorney at law, including appellate proceedings. The undersigned acknowl i f a completed c y of this note on this date. Address Dllasl~'1/ (SEAL) - ~ ~i . Address ~f.~'i0,, C181af~ / ' ' ~ ISEALI Mi1drM J~ 1Lg . k _ sooK 307 1554 - Vii',