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HomeMy WebLinkAbout1482 . _ ,r DISCLOSURE NOTE FOR IN8TALLMENT LOANS ~ ~ • 17,500.00 l~k IAI Amount Received S - BANK NAME IBI Premium for Credit ~a Life/Uisabibry Ins. S_ 1939 DOw~C1a.1 it., Jr~ •o~t1k, tlKilia >3<S7 ICI Documentary Stamps S = • OFFICE AOORESS ID1 Other Charges Irtemizel S 'a" 1 NOTE NO. DATEO: 3 .19~• (F) S '0" IG? Amount Financed 17 DUE: ~ , lgu IA, B, C, O, E, FI S INI Interest S a • PLACE: ~Sfot ,FLORIDA 111 Credit Investigation S ~a , IJI Other S tea' For value received, the undersigned (hereinalter called "Maker jointly and severally (if IKI S ~a more than one) promrte to pay to the~wor+der of the Bank, at its office listed above, the Total +a r,t Payments (from INI st right) of Dollars payable in `0 IL1 S ~a IMI FINANCE CHARGE ertual monthly installments of S 1r`•~ ,the fast ~,d16.40 IH, 1, J, K, L) S installment due on Jro ` , 197 ,and subsequent installments due on (N) Total of Payments IG + M) S ? • i ;he 6~day of each month thereafter, together vwth a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE • % 5 , ~0.. DUE , 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 ,lays in an amount equal to J~li 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- _ merits, whether principal, interest or otherwise, shall bear interest st the maximum legal rate allowed under the Isw. All payments made herwnder shall be credited 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 lawfulcharges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly or indirectly for the payment o{ 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• n~t„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 h?aker. The Maker may prepay the entire unpaid balance of the loan at any time. If the loan is prepaid in full, accelerated or refinanced, the Maker shall receive . + +efund of the unearned por yon 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 5.00. CREDIT LIFE ANO CRfiD1T LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such insurance coverage is available at the coat designated below for the term of the credit: lal S ~a for Credit Life Inwrance (bl S ~a for Credit LifeA Disability Inwrartce: ' Check ? Credit Life Insurance is desired on the life of Birthdate - Appl. ? Credit Lite & Disability Insurance is desired on Birthdate Box ®Credit Life and/or Disability Insurance is no desires(. ~ l . Date: 3a 1979 Signature tij~. i+ :y~ ' :I Signatur u~ lz ~ s AF7ERA000IREDPROPERTYMIILLBESU6IECTTOTHESEC ITYI TERESTANDOTHERORFUTUREINDEBTEDNESSISSECUREDSYANYSUCHPRO?ERTY,ASfOLIOWS: Maker hereby grants to Bank a sKUrity interest in a property, if any, described in the space below and in all ether property of Maker now or hereafter in " Bank`s possession, and sttCA security interest shall also lecure all other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, present ~ f uwre. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. Iris ~i95 0! RfMS OD! INDLit >RI~t, I10C. , a• 1MCribod i>d Irani no=s=afo; 1976 Cooe>`~a 33'sd' S'raral l~railo~c, social fZ0712SSa09, dt>o< 9's29' Eetfrloar >Rloo~~ Yi>hrl Niaflara - - I f 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 ~:_,y obtain such coverage from any agent, broker or insuror acceptable;,to the Bank. ' I t is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other party to this note (alt of whom are e•e,nafter forbrevity 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 ~ ,~c~on 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 € ~-r.ercise reasonable care. Without limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaining any maturities calls, convey- son, exchanges, offers, tenders or similar mattArs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof- Bank shall not i,ourxl to take any steps necessary to preserve any rights in the Collatera! against prior parties, and Maker shall take all necessary steps for such purposes- Bank B ~ .;s nominee need not collect interest on or principal of any Collateral cr give any notice with respect to it. Right is hereby expressly granted to the Bank at its ;r,on 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, orappty it on the o~ incipal 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 ;:,ianceof this note and all other liabilities of each Maker to Bank shall thereupon o? thereafter, at the option of Bank, without notice or demand, become imme- ;,srely due and payable: fal failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank or any in- s•,Iment thereof or interest thereon; Ibl the death of any Obligor; Icl the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, - ;:y or against any Obligor, Id1 an application for the appointment of a receiver tor, the making of a general assignment for the benefit of creditor by, or the nsowency of any Obligor; lel the entry of a judgment against any Obligor; Ifl the issuing o! any attachments or garnishment, or the filing of any lien, against ~:r,y property of any Obligor, (gl the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; 4 ~~V the dissolution, merger, consolidation, or reorganization of any Obligor; li) the determination by Bank that a material adverse change has occurred in the _ n~,ncial condition of any Obligor from the conditions set forth in the most recent financial statement of such Obligor heretofore furnished to Bank, or from •he condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any O!,i~gor (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; (jl the assignment by „y Maker of any equity in any of the Collateral without the written consent of Bank; Ikl failure to do all things necessary to preserve and maintain the value ~ci 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 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- n;ble notice of the time and place of any public sate thereof or of the time after which a private sale will be held- The requirement of reasonable notice shall met if 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 ,vs 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 `,uency; and Bank shall account to Maker for any 4urplus, but Bank shall have the right to apply alt or any part of such wrplus (or to hold 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 time whether or not this note is due: lal to pledge Transfer this note and the Collateral, whereupon Bank shall be relieved of all duties aril responsibilities hereunder and relieved from any and all liability with ,e>pect 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 ;ha to Bank hereunder; (b1 to transfer the whole or any part of the Collateral into the name of itself or its nominee; (cl to notify the Obligors on any Collat- ~ aI to make payment to Bank of any amounts due or to become due thereon; Id) to demand, we for, collect, or make any compromise or settlement it deems i~s~rable with reference to the Collateral; and le? to take posseuion or control of any proceeds of Collateral- No delay or omission on the part of Bank in exercising any rght hereunder shall operate as a waiver of such right or of any other right under this note. No ::,:ver or alteration shall lx• birxling on Bank unless in a writing sgned by an authorized Bank officer, and then only to the extent specifically set forth therein. P•esentment, 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*~-,der 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 r. ,re is paid in full. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys fees equal to 1076 of the amount r.anced, or such larger amounts as may be reasonable arxf just if collected by legal proceedings or through an attorney at law, including appellate proceedings. The under ned ack //owledge receipt of a completed copy of this note on this date. ISEAL? :.,rrf,ess~l06 H11i1~ Dc., Joa~o\ 1reL. 1rL.. _ ' Y; ~l'.G>Il~'r~ 3357 J 1 !dress s (f~ C~ ? : ~ (SEAL) ~oo~ 3U8 o~E 148z - r BS 75,' ur; 1 ~ 79