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HomeMy WebLinkAbout2192 ~ ~ ~ ' DISCLOSURE NOTE FOR INSTALLMENT LOANS ~ ~ ~ - ~t11N~~-~A--1Wk (A) Amount Recewrsd S ~,?N~SAaAA BANK NAME IBI Promium for Credit Life/Disability Ins. S RGaA (CI OoZRrmentary Stamps S 10.0 lD1 Other ChaNss (itemi:el S IEI S NOTE NO. DATED: ~ ~ , 19~. (F) S IGI Amount Financed DUE: ~ , 19~. IA, B. C. O, E. F) S 1~R969•~ f IH) Interest s 7.59'r~ .b PLACE: ~~><r~ ~b ,FLORIDA 111 Credit Investigation S eAltr IJI Other . S ~ti For value received, the undersigned (hereinafter called "Maker") jointly and severally (ii IKI S more than one) promise to pay to or r t Bank, at its office listed above, th4 IQtal of Payments (from IN) at right) of ~f1~~ Dollars payable in j~ (LI S ~ equal monthly installments of S ~ ,the first (MI FINANCE CHARGE t~ IH, 1, J, K, L) S-- 7,~•~ installment due on ~ li , 19~, and wbsequent installments due on INI Total of Payments lG + M) S ~a~~•~ tn~tjday of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 10eQ0 x, 5 DUE ~'--N~~.«~~..~~~~« , 19 The Bank shall impose a delinquency charge against the Maker on arty payment which has become due and remains in default for a period in excess of 10 clays in an amount equal to 9Xi 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 p~y- 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 interest artd then to principal, however, in the event of default, the Bank may, in its sole discretion, apply any payment to interest, principal and/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 of a greater rate of interest w 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- h~bited by law shall at any time be paid, any such excess shall either constitute and be treated es 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 tiros. 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 =5.~, CREDIT LIFE AND CREDIT LIFE dr 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: la) S ~Q~ for Credit Life Inwrance (b) S for Credit Life ~ Disability Insurance: Check ? Credit Life Insurance is desired on the life of Birthdate App)- ? Credit Life & Disability Insurance is desired on Birthdate Box ~ Credit Life and/or Disability Insurance is n , Oate:~~jQ~,i~j~ Signature x - AFTERACOUIREOPROPERTYYMILLBESUBJECTTOTNESECURITYINTER TANOOTHER FUTUREINDEBTEDNESSISSECUREDBYANYSUCHPROPERTY,ASFOLIOWS: Maker hereby grants to Bank a security interest in the property, if any, in the space below and in all other property of Maker now or hereafter in ~ Bank's possession, and such security interest shat) also secure all other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, present ur future. The aforesaid fecurity interest excludes the Makers primary residence unless said primary residence is described below. Lot /A62r ~al1o11 tI~ OYl1?OOt ~/O~i 0~ M~~:A~ A? !R!'lL~S Is'S.AIO~ as Nsesi~M i~ satr ~ost4ap. If the Bank requires the Maker to obtain insurance coverage against Toss or damage to the collateral securing the Makers indebtedness to the Bank, the Maker ~nav 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 (all of whom are - he~e,nafter 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 i action 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 shalt have no responsibility for ascertaining any maturities, calls, conver- sion, exchanges, offers, teruters or similar mattlrs relating to any of the Collateral, nor for informing the undersgred with respect to any thereof.$ank shall not !:e 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 irs 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 ~P[~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, or apply it on the c~+ncipal 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 :~.,!anceof 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- rf+ately 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- s!,!Iment thereof or interest thereon; (bl the death of any Obligor; (cl the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, by or against any Obligor; id) an application 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; (f) the issuing of any attachments or garnishment, or the filing of any lien, against any 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; ihl the dissolution, merger, consolidation, or reorganization of any Obligor; lil the determination by Bank that a material adverse change has occurred in the !~nancial condition of any Obligor from the conditions set forth in the most recent financial statement of wch Obligor heretofore furnished to Bank, or from she condition of wch 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 not) pertaining to or in connection with this note or the loan evidenced by this note is not true; fit the assignment by -,ny Maker of any equity in any of the Collateral without the written consent of Bank; (kl failure to do all things necessary to preserve and maintain the value ~;nrt 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 she 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- snnable notice of the time and place of any public sale thereof or of the time aster which a pnvate sale will be held. The requirement of reasonable notice shall i>~~ met if such notice is mailed, postege prepaid, to any Maker at the address given below or at any other address shown on the records of the Bank, at least ten = ci~,ys before the time of the sate- Upon disposition of any Collateral after the occurrence of any default hereunder, Obligors shall be artd remain liable for any deficiency; 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 all other Gabihties 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: la) to pledge 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 respect to any Collateral so pledged ar transferred, and any pledgee or transferee shalt for all purposes stand in the place of Bank hereunder and have all the rights to Bank hereunder; Ibl to transfer the whole or any part of the Collateral into the name of itself or its nominee; Icl to notify the Obligors on any Collat- eral to make payment to Bank of any amounts due or to become due thereon; (dl to demand, we tor, collect, or make any compromise or settlement it deems desirable 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 ir. exercising any right hereunder shall operate as a waiver of such right or of any oche. right under this note. No waiver 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 and every Obligor. The taking of a renewal note without the signature of any m~a eetsor 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 paid in full. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys fees equal to 10Xi of the amount c~nanced, or such larger amounts as may be reasonable and just i( collected by legal proceedings or through an attorney at law, including appellate proceedings. The under}jpw nowled Ere ~ t of a c et copy of this note this date. Address _~1_~~ ~ >Ib ~ r (SEALI Ra~dolpb N. Address ~t1rN ~ ~ (SEAL) U F . sc~~ UU~ ~acF2192. F f3s ~5a Rev. t ng r 1 $ _