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Home My WebLink About1516 ~ 27.000.00 Stuart, Florida. MaY 3 • 19 79 Note ~ See Payment Schedule Below * after date the undersigned (and it more than one, each of them joint! _ and severally), hereinafter called Maker, promises to pay to the order of 1 ~ FIRST 111ATIONAL BANK AND TRUST COMPANY OF STUART TWENTY SEVEN THOUSAND AND NO/100--------------~----~---' + ~ t(icc at Stuart, Florida, Iblla f s . ec ax trans 555 it.~lridt amount includes Procee(ls of S ~~.~~$~O.Q-- _ plus other chargesT~ t~ E' _ II1~ZH~; Appr & Crdt $90 1 472 00 nescribc) ~~(S ~ resulting in art t~\lOIINT FINANCED o[ $ 27,000.00) with interest at an ANl\UAL PERCENTAGE RATE o[ 10, 3( o payable Monthly Mhich results in a FINANCE CHARGE of $ 25, 767.00 (Computed on a 6 month maturity. if ~leutand obligation). 1[ not included above. other charges N/A in the amount of ; N/A have been (nescribe) collected from \lager. As security for the pa}~nent of this note \taker has pledged or deposited with Bank the following property: -1974 Rolls jnl~ernational Travel ~ ar tl pr, Dinl nmat- Mnrlel, m Q.11 S~ -AND 1972 Mobile Hoi>»e Carriage, Serial X1464, Size 18 x 27 ft, Title No X9807221. X~ionthly installments of $290.15 including interest, beginning nn rhP _s day of June. 1979 and continuing thereafter until ~ day of May, 1994, on which the entire balance ,then unpaid ~a~~--o eeotee-eht-- (iricludirry al! cash, stock and other dir+idenda a»d a!1 riyhta to subscribe f~ aeeuritiea titteide»t to, declared, or granted in connection with ,~r~k' property), u•hieh property, topcther with all additio>ea and aubatittttiona hereafter pledged or deposited with Blink is called the Col- lateral. The Collateral is also pledged as aeetrrity %or all other liabilities (primary, auondary, direct, contingent, sole, joint or several). +i;;e or to beeorae due or rt:hich may be hereafter contracted or aegetired, of each blaker (irtcludiny each Maker and any other person) r., hank. The surrender of this Hoer, upon payment or othertuiae, shall not affect the _riykt of Bank to retnin the Collateral Jor such ~~thcr liabilities. Additiau to. raductiona a' s:changes d, or substitutions }or the Collateral, paymenb oa account of this loan or increases of the acme. or other !cans made partially or wholly upon the Collateral, may from time to time be made without afladiaq the provisions of fhb note. Bank shall e:erciss reasoa- able care in the custody sad preservation of the Collateral to the a:tent required by application statute, sad :hall be deemed to have ezerciaed ceasttaable care it it takes such action for that purpose as Maker shall reasonably request in writiaq, but no otnissfon to do any act aol requested by Makir shall be deemed a failure to ezercise reasonable care, and ao omission to comply with any request of Maker shall d itseU be deemed a tailors td i:ercise reaaoa• able care. Beak shsR not be bound to take any steps necessary i0 preserve any righb is the Collateral against prior parties and Maker shall take all sea essary steps !or such purposes. Bank or~ib nominee need not tolled Lrterest m or priadpal of any.Coliateral or give any aotip with reaped to it. If the Collateral shall at any time become unsati+fadory b Bank, Maker shall within one day steer demand pledge and deposit with Beak as part of tt:e Collateral additional property which fs satistadory to Baak. If Bank deems itseU insecure, cr upon the happening of any of the bwinq events, each o! which shall constitute a default hereunder, all liabilities of each Maker m Bank shall thereupon or thereafter, at the op' Bank, without notice or demand, become due sad payable: (a) failure ' of any ODligot (which term shall mean sad include each Maker, eadot r sue ty and guarantor of this note) to perform say agreement hereunder, to pay interest hereon within tea days after it is billed or otherwise reques o[ mended, or to pap any other liability whatsoever to Bank when dos; (b) the death of any Obligor, tc) the filing of any petition uad r Bankrupt Ad. oc say similar federal or state statute, by or aghast say Obligor; (d) as application roc the appointment of a receiver tar, the making of a gene assi trmeat !or the benefit of aedilors by, or the insolvency of any Obligor; (s) tFe entry of a judgmeal agaiml say Obligor: (Q the iss q of as attachment or garnishment, or the tiling of say lien, against any property of say Obligor, (q) the taking of possrsaicn of any substantial of the property of any Obligor at the instance o! any governmental authority: (h) the dis- soiutioa, merger, consolidation, or reorganization of any Obliq ; the aasignmeat by say Maker o! any equity is any of the Collateral without the written E consent of Bank. ~ Bank shall hare, but shall not be limited to, the following righb, each of which may bs ezercised at any time whether or sot thla Hots b due: (p to pledge or transfer this note sad the Collateral and Bank shall thereupon bs relieved o! all duties and responsibilities hereunder and teliaved from any and all liability with rssped to any Collateral so pledged or transisaed, and any pledgee or ttansleree shall for all ptaposes stand in the place of Bank hereunder and here all the righb of Beak hereunder; (ii) to transfer the whole or any part of the Collateral into the name oI itseU or ib nominee; fill! to rots the Collateral; (iv) to notify the obligo» on say Collateral to make payment to Baak of any amounb due or to become dos thereon; (r) to demand, sue tor, collect or males any compromise a seWemsat it deems desirable with retereaes to the Collateral; sad (rl) to take control of any proceeds y o! Collateral. 't Bank is hereby gives a lira upon and a security interest in all property of each Obligor now a at any time hereaher is the posseastoa of Bank in any capacity whatsoever, including but sot limited b any balance or share of any dsposil, trust or agency account as security for the payment o! t::is note,-sad a similar lien upon and security interest in all such properly of each Maker as security [or the payment of all other liabilities of each Maker ~ to Bant tindudiaq liabilities of each Maker and any other person): and Bank shall bare the name righb as to such•property as it has with reaped to the ~ Collateral. - I! Bank deems iWU insecure or upon the occuaencs of any dstauh hereunder Bank shall Aare the remedies of a secured party under the Uai- farm Commercial Code and, without limiting the generality of the loregoing. Beak shall bare the right immedutely and without further action by it to set o!f against th4 note all money owed by Bast fa say capacity to each of any ObUgor, whether or sot dos, and also to set otl against all other liabilities of each Maker to Bank all mosey owed by Bank in any capacity to each or any Maker; and Bank shall bs deemed to bars a:ercised such right of went! sad to bars made a charge agairut any such matey immediately upon the occurrence o! such default even though such charge is made ~ ar entered ah the boe)u of Hank aubsequeal thereto. Unless w~ Collateral b perishable or lhteateas to decline speedily la value or L of a type cus- tomarily sold oa a recognised market Bank will give Maker nasonabls notice of the tuns sad place of any public sale thereol or of the time alter which say private sale or say other intended disposition thereof b to be made. The raquuement of rsaaoaable notice shall be met U such antics is mailed, postage p»pald, to soy Maker at the sddreas given below or at any oWsr address shown on the records of the Bank, at least firs days before the time l o! the ub or dupositioa. Upon dupoeition of any Collateral after the occurrence of any default hereunder. Maker shall be and remain liable for any delicieary; and Bart shall account to Maker for any surplus, but Bank shall hate the right to apply all or any part of such surplus (or to hold Ure same as a reserve agaioaU any and all other liabilities of each or any Maker to Bank. ' No delay or omLdon on the part of Bask in e:srcisinq any right hereunder shall operate u a waiver o! such right or of any other right under this nob. l?resentmeot demand, protgt notice of diahoaor. and estaasion of time without notice are hereby waived by each sad every Obligor. The z dbhgots, jointly and wvsraUy, promise and agree b pay all costs of coUedsoa and atlorneyi fees aqua) to loco of the principal sum a' such larger amounb as may be reasanably sad just Incurred or paid by Hank in enforciaq thin ooN upon the occurrence of any default Any notice to Maker shall ~ bs sufticieaUy served !ot all purposes if placed is the mail. postage prepared, addressed to a IeR upon the premiers at the address shown below or say other address shown oa Bank's records. Maker ulmowladgea racefpt of a compbted Dopy of thL Note oa the above ADDRESS: ~ ~ y'`~-~"J ~ • ac son , tearer a l.T: i • .tbo~ ~ O $ `I~y,~ I ~l ~o i`-