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HomeMy WebLinkAbout2510 N TE FOR INSTALLMENT LDANS ~ DISC~O~URE O afr t 1Zrlt~ >Vw1r (Al Amount Received s is zen_eo i ~oANK NAME ' ~ IBI Premium for Credit i Lila/Disability Ins. S ~ ~ •e. P. O. ~Q,Z 7. Jwisflin ~MCh. 'RI. 3S4S7 ICI Documaria.y Stamps S . j~.le OFFICE ooRE55 ID) Other Charges lit~ttiitel S ~0"' IEI S ~Q" . ` 29. ,19~. NOTE NO. OATEO: IFI S IGI Amount Financed Zsa~.~ Du E: ~ 1 _ , 19~. IA, B, C, D, E, F1 S IHI Interest s ?~>lA~-3A Pt_ACE• JAN ~h ,FLORIDA III Credit Investigation S ~a UI Other S •a For value received, the undersigned (hereinafter called "Maker") jointly and severally (if lKl _ more than one) promise to pay to the order of the Bank, at its office listed above, the Total ~,f PaynlOrits (from (NI at righU of ~Z]ylZ'j~eA Dollars payable in IL) S , the first (M) FINANCE CHARGE } equal monthly installments of S 1~•~i IH, 1, J, K, L) S < ,nstalfinent due eNt J~al~ 1 , 19~, and wbsaquent installments due on (NI Total of Payments Ili + M) S ~ the l~jday of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE le~~_% 5 OUE r~ , 19 The Bank shall impose s lietirtquency charge against the Maker on any payment which has become due and remains in default for a period in excess of 10 ,,:~ys in an amount equal to 9K 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 hereurder shall be credited first to interest and then to principal, however, in the event of default, the Bank may, in its sale discretion, apply any payment to interest, principal +nd(Or lawful charges then atxrtled. It is the intention of the parries hereto that the provisions herein shall not provide directly or indirectly fo? the payment ~,r 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- nibited by law shall at any time be paid, any such excess shall either constitute and be treated as a payment eKl the principal or be refunded directly to the hlaRer. 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 refund of the unearned poriii_~on 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 iJ.~, CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Sudt inwranp COtlerage is available at the cost designated bebw for the term of the credit: lal S "0"' for Credit Life Inwranex IDl S for Credit Life at Disability Inwrsnce: Check ? Credit Life Inwrartce is desired on the life of Birtfdate Appl. ? Credit Life & Disability Insurance is desired On Birthdate Box ~ Credit Lifeyand/or Disability Insurance a not desire . Date: lV,~-Z!?~.l2'li Signature ( Signature AFTERACDUIREDPRDPERTYMIIIIlESUBJECTTDTNESECURITYINTERESTANDDTNERORFUT INDEBTEDNESSISSECUREDlYANYSUCNPRD?ERTY,ASFDLLDMIS: 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 Bank's possession, and such security interest shall also secure all other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, present future. The aforesaid security interest excludes ilia Makers primary residence unless said primary residence is described below. Lot 7S1 SAC. IT, Oatdools R+oso~ts sf A>Mrica sit llettl~s ~s2izai v iMSSiti+d it said 11~sp~. _ If the Bank requires the Maker to obtain insurance coverage against lass or damage to the collateral securing the Makers indebtedness to the Bank, the Maker m.,y obtain such coverage from any agent, broker or inwror 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 r e e~nafter for brevity called Obligor o? 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 ~s?,an 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 shall have no responsibility for ascertaining any maturities, calls, rnnver- I'i s :,n, exchanges, offers, tenders or similar mattejrs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof. Bank shall not ::e t,ound to take any steps necessary to preserve any rights in the Collateral against prior parties, and Maker shall take all necessary steps for wch purposes. Bank +ts 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 I ;,t+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 E p•~napal or interest due hereon or due on any liability secured hereby. 1 Upon the happening of any of the following events, each of which shall constitute a detaylt hereunder, or if the Bank deems itself insecure, the entire unpaid +_,i.inceof this note anfl all other liabilities of each Maker to Bank shall thereupon or thereafter, at the option of Bank, without notice or demand, become imme- ~,.,tely due and payable: (al failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank or any in- ~•.: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, or against any Obligor; Id1 an application for the appointment of a receiver for, the making of a general assgnment for the benefit of creditors by, or the ~~solvency of any Obligor; lei the entry of a judgment against any Obligor; Ifl the issuing of any attachments or garnishment, or the filing of any lien, against ~,ny 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; f 1 the dissolution, merger, consolidation, or reorganization of any Obligor; lil the determination by Bank that a material adverse change has occurred in the f vandal condition of any Obligor from the corxlitions set forth in the most recent financial statement of wch Oblgor heretofore furnished to Bank, or from condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any !;:,iigor (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; 111 the assignment by +ny Maker of any equity in any of the Collateral without the written consent of Bank; (k) failure to d0 alt things necessary to preserve and maintain the value ,nr) collectibility of the Collateral, including, but not limited to, the payment of taxes and premiums an policies of insurance on the due date without benefit of ~n~ 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,f~le 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 1 t;• met it 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 ~ ,'-:yz before the time of the sale. Upon disposition of any Collateral after the occurrence of any default hereunder, Obligors shall be and remaen liable for any ~ ;ef,c+eney; and Bank shall account to-Maker for any wrplus, but Bank shall have the right to apply all or any part of wch wrplus (or to hold the same as a - Nzerve) against any and all other liabiht,es 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: Ial to pledge nanster 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 or transferred, and any pledgee or transferee shall for all purposes stand in the place of Bank hereunder and have all the • :hts 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- ;I to make payment to Bank of any amounts due or to become due thereon; Id1 to demand, we for, collect, or make any compromise or settlement it deems € •+es+rable with reference to the Collateral; and lei to take possession or control of any proceeds of Collateral. J F 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 1 .v-3~ver or alteration shall be binding on Bank unless in a writing signed by an authorized Bank officer, and then only to the extent specifically set forth therein. s'• 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 ~,:~ker 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 :•~~*.e is paid in full. The Obligors, jointly and severally, promise and agree to pay all costs of colle~;tion, including attorneys fees equal to 10% of the amount r~nanced, 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. Atfdress ~ wrif1~l~•T•11~ (SEAL) ,x~' E ufress _ ~ (SEAL) p 3U9 P~~f-2507 EU~K f BS 7S? i+ev. t ~ 79 x