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HomeMy WebLinkAbout1571 - ~ ~ - - _ r - DISCLOSURE NOTE FOR INSTALLMENT LOANS ~ Jrsr I{Na1f ~Dk IAI Amount Received s ZO•~~.~ BANK NAME 1B1 Premium for Credil Life/Oisabilrty Int. S 1939 Co~aial st.. J~assa frail, >rlo~si~a 3345 lcl ootumentary stamp: s 3(?.1S OFFICE ADDRESS l01 Other Charges (itemize) S LEI S NOTE NO. DATED: _ ~~l 2~ , 19~_. (F) S ~Q. IGI Amount Financed DUE:_ ~nt~ Zl ~ lg~_, (A, B, C, O, E, FI S 20•Q30.15 IHI Interest S 11.732.bi PLACE: s~?~ ,FLORIDA (l) Credit Investigation S a IJI Other S For value reserved, the undersgned (hereinafter called "Maker") jointly and severally (if (K) s "a more than one) promise to pay to the order of the Bank, at its olfice listed above, the Total of Payments (from INl at right) of~uel~.aQ Oollarspayabte in lLl S ~a equal monthly installments of S Z~-=! ~ ,the first IMl FINANCE CHARGE 65 IH, 1, J, K, L) s_~• • installment due on ~ , 19Z~. and wbsequent installments due on lNl Total of Payments IG + M) S 31.7i~•d0 theZ ay of each month tt+ereatter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 10•~ % S ~0" OUE , 19 The Bank shall impose a delinquency charge against the Maker on any payment which has become dua and remains in default for a period in excess of 1~ days in an amount equal to ~ 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 maximum legal rate allowed under the law. All payments made hereunder shall be credited tint 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 andJor lawfulcharges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly or indirectly for the payment of a greater rate of interest or the retention of any other charge than is allowed by law. If, for any reason, interest in excess of such legal rate or a charge pro- r,~bited by law shall at any time be paid, any such excess shall either constitute and be treated as s~payment on the principal or be refunded directly to the Maker. The Maker may prepay the entire unpaid balance of the loan at any lima. If the loan is prepaid in full, accelerated or refinanced, the Maker shall receive a refund 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 a minimum interest charge of CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such insurance coverage is available at the cost designated below for the term of the credit: lal S 'a for Credit Life Insurance Ibl S ~a far Credit Life at Disability Inwrance: Check ? Credit life Insurance is desired on the life of Birthdate Appl, r? Credit life & Disability Insurance is desired on Birthdate Box LJ Credit life and/or Disability Insurance is not desired. Date: ~1 20~ 197 Signature>Il ~V~ Signatur AFTERACDUIREDPRDPERTYYYILLBESUBJECTTDTHESECURITYINTERESTANDOTHERDRFUTUREINDEBTEDNESSISSE UREDf/YANYSUCHPROPERTY,ASFDLLDIYS: 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 Bank's possession, and such security interest shall also secure all Other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, present or future. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. Lot X1120, SK.t1f00 II, 00lD0~ Ot IIi~ICa A? >ABY~ ISI.AIAD, as ~laL•=ibad is said ~ostsa~a; 177 ?ara 3S' ~raral Tsail~, srrial #l7~7f833, vit6 11'~c26' :arfNa Isioata. If the Bank requires the Maker to obtain rnsurance coverage against loss or damage to the collateral securing the Makers indebt?dunes to the Bank, the Maker ~ may obtain such coverage from any agent, broker or insuror acceptable to the Bank- It is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other party to this note tall of whom are hereinafter for brevity called Obhgar 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 actean 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- 'i Sion, 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 ~ tre bound 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 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 I 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- Upon the happening of any of the following events, each of which shall constitute a default hereunder, or if the Bank deems itself insecure, the entire unpaid t„ianceot 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- ~ :irately due and payable: (a? failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any Liability whatsoever to Bank or any in- ; st~~!ment thereof or interest thereon; (b) the death of any Obligor; Icl the tiling of any petition under the Bankruptcy Act, or any similar federal or state statute, t,v or against any Obligor; Idl an app:ication for the appointment of a receiver for, the making of a general assignment for the benefit of creditors by, or the ~nsolvertcy of any Obligor; {el the entry of a judgment against any Obligor; If1 the issuing of any attachments or garnishment, or the filing of any lien, against f ar.y property of any Obligor; Igl the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; ~ .h! [he dissolution, merger, consolidation, or reorganization of any Obligor; lil 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 wch Oblgor heretofore furnished to Bank, or from the condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any Obligor (whether contained in this note or riot) pertaining to or in connection with this note or the loan evidenced by this note is not true; Ijl the assignment by ,:ny Maker of any equity in any of the Collateral without the written consent of Bank; Ik? failure to do all things necessary to preserve and maintain the value and collettibility 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 ~ the grace period. i 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- l s ,nable 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 ~ ~ tn~ met it 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 cf.:ys before the time of the sate. Upon disposition of any Collateral after the occurrence of any default hereunder, Obligors shall be and remain liable for any c:ef~cieney: aril Bank shall account to Maker for any wrplus, but Bank shall have the right to apply all or any part of such surplus (or to hold the same as a reserve) against any arxt all other liabilities of each or any Maker to Bank. Bank shall trave, 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: la) to pledge r;r transfer this note and the Collateral, whereupon Bank shall be relieved of all dunes aril responsibilities hereunder and relieved from any and all liability with respect 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 •~ghts to Bank hereunder; Ibl to transfer the whole or any part of the Collateral into the name of itself or its nominee; Ic1 to notify the Obligors on any Collat- eral to make Y payment to Bank of any amounts due or to become dui thereon; (d) to demand, sue for, collect, or make any compromise or settlement it deems riesirable with reference to the Collateral; and (e) 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 r~arver or alteration shall be binding on Bank unless in a writing sgned 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 ar?d every Obligor. The taking of a renewal note without the signature of any maker or endorser liable on this note shall not be deemed a payment or discharge of this obligation and the liability created hereunder shall continue until this n~)te rs paid in full. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys' fees equal to 1~1 of the amount ~~nanced, or such larger amounts az may be reasonable and just if collected by legal proceedings or through an attorney at law, including appellate proceedings. The undersigned acknowledge receipt of a completed copy of this note on this date. \ address 1484 >~i+its road. Histhlasi )stk. ILL. a ' J~~ f~35 V . i ISEALI p Address = (SEAL) } gOG!( J1/7 ~a~~ 15 71 _ t>s ~5~ c~~v- ; r ~q