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HomeMy WebLinkAbout1420 r~ , t.1~1 DISCLOSURE N~E FOR INSTAILMENT.tOANS J IAI Amount Received SeQ~_ SANK NAME IBI Premium for Credit ' ' life/Disability Ins. S ICI Ootumentary Stamps S ~g~~ FF C O tDl Other Charges litemrzel i ' IEI S ~..3ti..~ NOTE NO- DATED: ~ 4 . 19 7~ . IFl S IGI Amount Financed ouE: ~ 1i is iS . (A, B, c. o. E. F) s l~,dl~.:~ Ilil Interest S PLACE: ~~.~V~r ,FLORIDA 111 Credit Investigation S _ . lJl Other S For value received, the undersigned Ihereirrafter called "Maker") jointly and severally lit IKI S more than one) promise to pay to the order of the Bank, at its office listed above, the Total of Payments (from INl at right) 01 Dollars payable in ILI S equal rrronthl installments of S T , tM first IM? FINANCE CHARGE Y ~ (H, 1, J, K, LI 5~~296~jq installment due on lit 1~ , 19~, and subsequent installments due on (Nl Total of Payments IG + M) S ~N~l~~ the~ay oI each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE lA~~ % $ G .19 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 10 days in an amount equal to 67fi 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 first to intarett and tften to principal, however, in the event of default, the Bank may, in its sole discretion, apply any payment to interest, principal and/o? lawful charges then accrued. It is the intention of the parties hereto that the proviirons 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 taw, tf, for any reason, interest in excess of such legal rate or a charge pro- hibited by law shall at any time ba paid, any wch excess shall either constitute and be treated as a payment on the principal or be refunded directly to the Maker, The Maker may prepay the entire unpaid balance of the loan at any time. If the lilan 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 98's method, except that the Bank shall be entitled to retain a minimum interest charge of 55.00, CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwrance coverage is available at the cost designated below for the term of the credit: (al S ~o- for Credit Life Insurance Ibl S ~a for Credit Life 6 Disability Insurance: Check ? Credit life Insurance is desired on the life of _ Birthdate Appl, Q Credit Life & Disability Insurance is desired on Birthdate ' ~oz ~ Credit Life and/or Disability Irrwrance is not desired. Date: _T L- Signaturr~ .Signature . AFTER ACQUIRED PROPERTYMIILL BE SUBIECTTDTHESECURITYINTEREST AND OTHER OR FUTURE INDEBTEDNESS IS SECURED BY ANYSUCH PROPERTY, AS FDILDWS: 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 frereafter 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 prin?ary residence unless said primary residence is described below- Lot /36~ MisdrBill 11i12spS ~ dsscsibsd ilA said >rlos~t~ags. It the 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 obtain such coverage from any agent, broker or insuror acceptable to the Bank. tt is jointly acrd severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other party to this note fall of whom are hereinafter for brevity called Obligor or Obligors) that: i Bank shall exercise reasonable care in the custody acrd preservation of the-Collateral and shall be deemed to have exercised reasonable care if it takes such action for that purpose as Ma!:er 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 soon, exchanges, offers, tenders or similar matti#rs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof-Bank shall not tie bound to take any steps necessary to preserve any rights in the Collateral against prior parties, and Maker shat) take all necessary steps for such purposes. Bank e. 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. Upon the happening of any of the tollowin9 events, each of which shall constitute a default hereunder, or if the Bank deems itself insecure, the entire unpaid halanceof 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: (a1 failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability vvhatsorwer to Bank or any in- stalment thereof or interest thereon; Ibl the death of any Obligor; lc) the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, t;y or against any Obligor; (d) application for the appointment of a receiver for, the making of a general assign nt for the benefit of creditors by, or the ~nsolverrcy of any Obligor; (e1 The entry of a IrxJgment against any Obligor; Ifl the issuing of any attachments or arnishment, or the filing of any lien, against <,ny property of any Obligor; (g) the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; th) the dissolution, merger, co*Olidation, or reorganization of any Obligor; (i) the determination by Bank that a ttaterial 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 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 Ot~lrgor (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; Ijl the assignment by <:ny Maker of any equity in any of the Collateral withouj the written consent of Bank; Ik1 failure to do all things necessary to preserve and maintain the value - >,nd collectibitity 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- Unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, Bank wil! give Maker rea- ~onable 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 ue met rf 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 clays before the time of the sale. Upon disposition of any Collateral after the occurrence of any default hereunder, Obligors shall be acrd remain liable for any rieficiency: acrd Bank shall account to Maker for any wrplus, but Bank shall have the right to apply all or any part.pf such wrplus (or to hoM the same as a = reserve) against any and all 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 tune whether or not this note is due: (a) to pledge nr transfer this note and the Collateral, whereupon Bank shall be relieved of alt duties and 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 rights to Bank hereunder; !bl 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 Cdlat- Aral to make payment to Bank of any amounts due or to become due thereon; Idl to demand, we for, collect, or make any compromise or settlement it deems riesirable with reference to the Collateral; and !el to take possession or control of any proceeds of Collateral. No delay or omission on the part of Bank rn exercising any right hereunder shalt operate as a waiver of such right or of any other right under this note. No - :vawer 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. aresentment, 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 of 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 ~r note is paid in Lull. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys fees equal to 1076 of the amount i~nancrtd, or such larger amounts as may be reasonable acrd just if collected by legal proceedings or through an attorney at laws including appellate proceedings. The undersigned acknowledge receipt of a completed copy of -this note on this date. _ ,,~d,ess 1319 Avac~t Aw.. Y ~Lc ~ (SEAL) Aa>rOQ MOOds MAlaLOA,. - t12., 601e7 X ,.L (SEAL) Address tfyrMflla MOOds B001f JVO PACE t BS 7S2 Rer. 1 / 79