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HomeMy WebLinkAbout2657 DISCLOSURE NOTE FOR INSTALLMENT LOANS ~ IAI Amount Received s_ 15~000e00 BANK NAME IBI Premium for Credo ~S ~ Lile/Oissbihty Ins. s f~Qe MY 7a ~ R 117 ICI Documentary Stamps S OFFICE ApORE55 IDI Other Charges (itemize) =-etrerav~ LEI _ - S NOTE NO. GATED: ,_~fr ~ , 19_u (F) _ (GI Amount Financed DuE: 1~~16 . 19_x- IA, B. C. O, E. F1 S_~,D,O~_ INI tnterest t t'~ACE: ~!!t ,FLORIDA (11 Credit Investigation s IJ? Other S For value received, the undersigned (hereinafter called "Maker) jointly and severally (if (KI _ more than one) promise to pay to the order of the Bank, at i(f office listed above, the Total Payments Itrom INI at right) of ~**~ra~ Oolgnpayable in ILL S equal monthly mstaUments of S ~ ,the tint IMI FINANCE CHARGE installment due on .>ltse~ IH, I, J, K, L) S_~~~_ li , 19~, and wbsequent installments due on (NI Total of Payments IG + M) S_ e thel~fay of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 5,~ OUE ~Q~ , lg ~ . The Bank shall impose a delir?qusrtey charge against the Maker on any payment which has become due and remains in default for a period in excess of 10 ~favs 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 of otherwise, shall bear interest st the maximum legal rate allowed under the law. All payments made hereunder 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 andlor lawfulchargss 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. It, for eny reason, interest in excess of such legal rate or a charge pro- n~b~ted by law shall at any tines be paid, any such excess shall either constitute and be treated as a payment on the principal or be refunded directly to the Maker. The Maker may grapey the entire unpaid balance of the loan st any time. If the loan is prepaid in full, accelerated or refinanced, the Maker shall receive a refund of the unearned portl!iconMr~rO~f the interest and insurance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain 3 minlfnum interest Charge Ot iA W. CREDIT LIFE ANO 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: (sl S for Credit Life Lowrance (b) S for Credit Life-de Oisebility Lowrance: check ? Credit Life Insurance is desired on the life of Birthdate APP!. ? Credit life dr Disability Insurance is desired on Birthdate Box ~ Credit Life and/or Disability tr?surance is not d sired. Date:_~~ Ile t~,7~ Signature Signature AFTERACOUIREDPRO?ERTYIMLLBESUIJECTTOTHESECURITYINT REST ANDOTHERO FUTURE INDEBTEDNESSISSECUREDIVANYSUCHPROPERTY,ASFOILOWS: 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 Eank's possession, and such security interest shall also secure all other liabilities of Maker tb Bank, whether primary, secondary, direct or contingent, present future. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. Lot i"~, Hoek i~ »LmAY OIR AT S?. t~ an/ 197a Rolls Ilet~rnstle~al Ts~w~l Tsrsil~s~ I.0. i1R, dth arrw s+ow~~ as ~seslbM iw M1~ ~oar~~ ,7 If 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. It is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other parry 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 aril preservation of the Collateral and shall be deemed to have exercised reasonable care if it takes such ton 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 • excise reasonable care. Without limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaining any maturities, calls, conver- c,n, 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 f i,ound to take any steps necessary to preserve any rights in the Collateral against prior parties, aril Maker shall take all necessary steps for such purposes. Bank ors nominee need not collect interest on o{ principal of any Collateral or give any notice with respect to it- Right is hereby expressly granted to the Bank at its ? !anon 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 u• ~ncipal or interest due hereon o? 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 ~.~nce of 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 imn?e- ;!e!y 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- [ >::~ment thereof or imerest thereon; (hi the death of any Obligor, (cl the filing of any petition under ilia Bankruptcy Act, w any similar federal or state statute, a ~:v nr against any Obligor; Id1 an application for the appointment of a receiver for, the making of a general assignment for the benefit o1 creditors by, or the ~s,,tvency of any Obligor; lel the entry of a judgment against any Obligor; Ifl the issuing Dt any attachments or garnishment, or the tiling of any lien, against =•~v 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; ~ the dissolution, merger, consolidation, or reorganization of any Obligor; Ii1 the determination by Bank that a material adverse change has occurred in the n,,naal 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 corxlition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any ;r,,~gor (whether contained in this note o. not) pertaining to or in connection with this note or the loan evidenced by this note is not true; Ijl the assignment by Maker of any equity in any of the Collateral without the written consent of Bank; Iki failure to do all things necessary to preserve and maintain the value collectibility of the Collateral, irtcludrng, but not limited to, the payment of taxes and premiums on policies of insurance on the due date without benefit of • q+aCe period. Uniess 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- ihle notice of the time and place of any public sale thereof or of the time after which a rivate sale will be held. The r € P equirement of reasonable notice shall s ~ 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 E 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 surplus, but Bank shall have the right to apply all or any part of such wrplus (or to hold the same as a •,serve! against airy and all other liabilities of each or any Maker to Bank. y Sank shall have, but shall not be limited to, the following rights, each of which may be exercised et 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 and responsibilities hereunder and relieved from any and all liability with - ~•~>aeet 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 - • ,;nts to Bank hereunder; Ib1 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 Collet- ' _ ~ 3! ro make payment to Bank of any amounts due or to become due thereon; (d) to demand, we for, collect, or make any compromise or settlement it deems ,es~rable 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 .~:!i~,rer or alteration shalt be binding 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 *:-i~er or endorser liable on this note shall not be deemed a payment or discharge of this obligation arlrl the liability created hereunder shall continue until this '.,P ~s paid in full- The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys' tees equal to 10'Xi of the amount • ,aced, or such larger amounts as 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. Z ~ . a ~;ness ~~_~OY~ ~k~ (SEAL) a ~ S ~aess - ISEALI ~lw L~ ilzbi~ss t a~c~. ~ cE ~ 8 P~ 2657 f3~. > r7ev ~ , -