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HomeMy WebLinkAbout2531 • - a ' ~ DISCLOSURE NOTE FOR INSTALLMENT LOANS aRM IAI Amount Received 5~.0~.~ BANK NAME . Iel Premium for Credit Life/Disability Ins. S • t 1~ 7 ICl Documentary Stamps S- Ie-~ OFFICE ADDRESS IDI Other Charges (itemize) S •0• IEI NOTE NO. GATED: ~ , 19~. IFI S • • IGI Amount Financed UuE ~~1 , 19~. IA, B, C, O, E, F) S~~Ais.u IHI Interest S 7~207•iS PLACE: ~i»r~ii~ , FLORIDA 111 Credit Investigation S IJI Other S •0+ For value received, the undersigned (hereinafter called "Maker") jointly and severally (if IKI S in~ire than one) promise to pay to the order of the Bank, at its office fisted above, the Total ~t Payments (from INl at right) of ~1~~2LA_=A Dollars payable ini~ ILI S ,the first lMl FINANCE CHARGE ~„ual monthly installments of S li8.34 IH, 1, J, K, U S 1,222~fiS ~nsrallment due on . ii~y 1 19 ~ ,and wbsequent installments due on INI Total of Payments IG + MI 5~~2~A-~ ;ne ~_day of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 10_2= 9(, 5 -o• DUE -a .,9 - The Bank shell impose a delinquency charge against the Maker on any payment_which has become due and remains in default for a period in excess of 1~ i .ys in an amount equal to S'K 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 ur?der the law. All payments made hereunder shall be u~•ditecf 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 ,~<f'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 u= 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 pr0- riit~iti?d 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 co the h'I::ker. 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 portion of the interest and inwrance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain , minimum interest charge of =rj,OO, CREDIT LIFE AND CREDIT LIFE dr DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwranee coverage is available at the cost designated below for the term of the credit: la) S ~a for Credit life Inwrance (b) S tea' for Credit Life de Disability Insurance: Check ? Credit Life Insurance is desired on the life of Birthdate Appl, ? Credit Life dr Disability Insurance is desired on Birthdate Box (Credit Life and/or Disability Insurance is not it / ' ware: Signature~~~a?J•~ - Signature ~ pFTERA000IREDPROPERTYYYILLBESUBIECTTOTHESECURITYINTERESTANDOTHER UTUREINDEBTEDNESSISSECUREOBYANYSUCNPROPERTY,ASFOLIOffYS: :'faker 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 ~r 'uture. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. Lot 633, S~atio~ II. Oatd~oa Rfao~sts of Arsica at l~Mttlss Isla>l~d, as dssatibad is said s• 1974 ~Uai1M 3ytaril 'J1`tailf~! • Sfarial lea. s3S19S2 • I` 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 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 (all of whom are re~nafter for brevity called Obligor or Obligors) that: Bank shall exercise reasonable care in the custody and preservation o`. the Collateral and shall be deemed to have exercised reasonable care if it takes such un 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 ~ • ~~rcise reasonable care. Without limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaining any maturities, calls, conver- n, 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 : - !~,iund to take any steps necessary to preserve any rights in the Collateral against prior parties, and Maker shalt take all necessary steps for such purposes_ Bank I ors 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 ;,•~on to transfer at any ume to itself or to its nominee any Collateral and to receive the income thereon and hold same as security herefor, or apply it on Lhe ,:•:nupal or interest due hereon or due on any liability secured hereby. j Upon the happening of any of the following events, each of which shall constitute a default hereunder, or it the Bank deems itself insecure, the,entire unpaid ~ ; - once of this note and all other liabilities of each Maker to Bank shall thereupon or thereafter, at the option of Bank, without nonce ur demand, become imme- f i ,rely due and payable: (a) failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank or any in- 1 ;~.,,rnent thereof or interest thereon; Ibl the death of any Obligor, lc1 the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, :.'r or against any Obligor; Id? an application for the appointment of a receiver tor, the making of a general assignment for the benefit of creditors by, or the ~,~,ivency of any Obligor; lel the entry of a judgment against any Obligor; If1 the issuing of any attachments or garnishment, or the filing of any lien, against ~y property of any Obligor, I91 the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; t the dissolution, merger, consolidation, or reorganization of any Obligor; Ii1 the determination by Bank that a material adverse change has occurred in the 1 ~ 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 ~e condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any ~~~qor (whether contained in this note or not) pertaining to or m connection with this note or the loan evidenced by this note is not true; (jl the assignment by I y Maker of any equity in any of the Collateral whhout the written consent of Bank; lkl failure to do all things necessary to preserve and maintain the value 1 ~-i 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- r~.;ble 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 r r„et 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 s 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 > •'~ciency; and Bank shall account to Maker for any surplus, but Bank shall have the right to apply all or any part of such surplus (o. to hold the same as a - rve) against any and all other liabilities of each or any Maker to Bank' Bank shall have, but shall not be limited to, tfie followiry rights, each of which may be exercised at any time whether or not this note is due: Ia) to pledge •~ansfer this note and the Collateral, whereupon Bank shall be relieved of all duties and responsibilities hereunder and relieved from any and all liability with ~~>vect [o 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 [z to Bank hereunder; (b) to transfer the whole or any part of the Collateral into the name of itself pr its nominee; Icl to notify the Obligors on any Collat- ro make payment to Bank of any amounts due or to become due thereon; Idl to demand, sue for, collect, or make any compromise or settlement it deems ri=,~rable with reference to the Collateral; and le) 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 wch right or of any other right under this note. No ..-,:ve. 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_ • resentment, 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 f ;ker or endorser liable on this note shall not be deemed a payment or discharge of this obligation Gird the liability created hereunder shall continue until this _ e .z paid in full_ The Obligors, jomdy and severally, promise and agree to pay all costs of collection, including attorneys' fees equal to 1(1Xi of the amount ~nc~K1, or such larger amounts a5 may tie reasonable and just if collected by legal proceedings or through an attorney at law, including appellate proceedings. The undersig ~ owledgeeeeeipt of a completed copy of this note on this date. ..-idreSSiiW I*diawa Rit?~ •jfMifa ri. _ I~ - - i ~ ISEALI i,l.e~~ Iadii~ Riw? ~l., da¦s~ BM~ilr, !1• `ir . ~ ISEAIi g~k, 309 FACE 2528 z _