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HomeMy WebLinkAbout1687 • ~ k - OISCL,~~SURE NOTE FOR INSTALIM LOANS ~r (A) Amoum Recervad S iZt~t~ NK NAME IBI Premium for Credo =n~~ Life/Oisabiluy Ins. S 1t~~ fCl Documentary Stamps S I IDI OtherChsrgeslitemizel S . LEI S_~ NOTE NO. DATED: J~ffff~ u , 18~ (F) S ~0• (Cal Amount Financed DUE• 1118 11 • , ig~ (A, 8, C, U, E, FI S..~e~~~ • IHI Interest S PLACE: ~ ~ ,FLORIDA 111 Credit Investigation S .rf3. • IJI Other S ~ For value received, the undersrgr?ed (hereinafter rolled "Maker") iointly and severally (if IKI S •0+ . more than and proms to pay to the order of the Bank, at its office listed above, the Total - of PaymMttf (from !N) at light) of ~L~~s2 Dollars payable in ILL S +Q+ . erlwf monthly installments of S '~~-V ,the first IMI FINANCE CHARGE IH, I, J, K, L) S sa~Z~M rnstallnNnt due On~u , 19~, and wbsaquent installments due on INI Total of Payments IG * M) S ~ Inl~~,day of sach month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE iQ.~ % S rQi' DUE +d , 19 , The Bank shall impose, a delinquency charge against the Maker on any payment which has become due and remains in default for a period in exau of 10 days in 81t amount equal to fl~lfi of the amount of the principal part of the payment in default. In tfte event that the Note is not paid in full at maturity, all pay- - mems, vvMthK. 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 and then to pincipal, however, in the event of default, the Bank may, in its sole discretion, apply any payment to interest, principal and/or Iawftelrflsa.rgss 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 grNter rate of interest or the retention of any other charge than is allowed by law. tf, for any reason, interest in excess of such legal rate or a cha?9e pro- nrbited by lour rhall at any time be paid, any such exceu shall either constitute! and be treated as 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 time. If the loan is prepaid in full, accelerated or refinanced, the Maker shall receive a refund of the urttarrsed portion of the interest and insurance premiums computed by the Rute of 78's method, except that the Bank shall be entitled to retain a minimum interest Charge Of 5.f10. CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such insurance coversye is available at the poet dagneted below for the term of the uedit: fsl S 3~~~ for Credit Life Inwrance Ibl S +Q+ for Credit Lite f1 Disability Insurance: A ~0e~.~ ~ . ~ s ~ ~=MS,i,~ tom. Check ~ CradR Lift Insurance n desired on the life of ~Z M. ~ Birthdate i~l~~s Appl, t~ear.dit Life & Disability Insurance is desired on Bi?thdate Box ? Credit Lift ar?d/or Disability Insurance is trail. Date: x~ ~ Signatur 'kSignature AfTERA000IRED*RO?ERTYIMLLBESUaIECTTOTHESECURITYINTERESTAN00TNERORFUTU EINDEtTEONESSISSECUREOBYANYSUCH~ROtERTY,ASFOILOMIIS: Maker hereby yrsnq 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 or future. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. Lot Ifs. -95 Off+t~os. >~rts Afarlatrita at Mottia Isirri Patti i~Ti Rsiii~q? Ranbii~ ' Iyeatrol ~iieatr (Lot llo. tS Illi i~sesii~i is lidst~o llss~t) If the Bank requires the Maker to obtain insurance coverage agair?st toss or damage to the collateral securing the Make: s indebtedness to the Bank, the Maker may obtain such coverage from any agent, broker or irtwror acceptable to the Bank. _ ~ It is jointly and severally covenanted and agreed with the Bank by each hfaker, endorser, surety, guarantor, and other party to this note (all of whom are hereinafter for brevity called Obligor or Obligors) that: Bank steal{ exercise reasonable care in the custody and preservation of the Collateral and shall be deemed to have exercised reasonable care if it takes such ~ctron for that purpose as Maker shalt reasonably request in writing, but no omission to comply with any request of Maker shalt of itself be deemed a failure to t r<ercise reasonable care. Without limiting the generality of the foregoing, the Bank shall have no respOruibility for ascertaining any maturities, calls, conver- soon, exchanges, otters, tenders or similar mattArs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof. Bank shall not l !,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 putposec. Bank I n+ r[s 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 1 ~,p?ron to transfer at any time to itself or to its nominee any Collateral and to receive the income thereon and hold same as security heretor, Or apply it on the I orincipal or interest due hereon or due on any Lability secured hereby- Upon the happening of any of the following events, each of which shalt constitute a default hereunder, or ii the Bank deems itself insecure, the entire unpaid !::,lance 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 imrM- ;;rarely due and payable: (al failure of any ObLgor to perform any agreement hereunder pr to pay in full, when due, any liability whatsoever to Bank or any in- ste~ment thereof Or interest thereon; Ibl the death of any Obligor; Ic1 the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, t,y or against any Obligor; Idl an application for the appointment of a receiver for, the making of a general assignment for the benefit of creditors by, or the insolvency of any Obligor; (el the entry of a judgment against any Obligo:; Ill the issuing of any attachments or garnishment, or the filing of any lien, against ;:ny 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; in) the dissolution, merger, consolidation, or reorganiration of any Obligor (il the determination by Bank that a material adverse change has occurred in the € f~nanCial condition of any Obligor from the conditions set forth in the most recent firiantial statement of such Obligor heretofore furnished to Bank, or from :ne condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, or statement of any O:',ligor (whether contained in this note or not) pertaining to or in connection with this note or the loan eviderx:ed by this note is not true: ljl the assignment by any 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 ,;rid collectibility of the Collateral, including, bur not limited to, the payment of taxes and premiums on policies of insurance on the due date without benefit of p s ne 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- sr,nable 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 t,e met if such notice is mailed, postage prepaid, to any Maker at the address green below or at any other address shown on the records of the Bank, at least ten ct,ys 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 ~ deticieriey~ 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 any anti all other liabilities 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 rtot this note is due: la) to pledge - nr transfer this note and the Collateral, whereupon Bank shall b! relieved of all duties and responsibilities hereunder and relieved from any and all liability with respect to any Collateral so Dledged or transferred, and any pledgee or transferee shall for all purposes stand in the place of Bank hereunder and have all the rights to Bank hereunder; (bl to transfer the whole o? any part Of the Collateral into the name of itself or its nominee; Icl to notify the Obligors on any Collat- fi oral to make payment to Bank of any amounts due or to become due thereon; (d) to demand, sue for, collect, or make any compromise or settlement it deems z desirable with reference to the Collateral; and (el to take posseuion ar 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 waiver or alteration shall be binding on Bank unlett in a writing signed by an authorized Bank officer, and then only to the extent specifically set forth therein. a 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 - maker 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 note is paid in full. The Obligors, ioihtly and severally, promise and agree to pay all costs of collection, including attorneys' fees equal to lfl% of the amount imanced, or such larger amounts as may be reasonable and dust i( collected by legal proceedings or through an attorney at law, including appellate proceedings. ~ The unde~ed acknowl receipt of /completed copy of this note on this date. " % I~~~P. Imo. ~ Ar1drL~ ~7a~~II,lMttlfalrs Isit~i. (SEAL) ~~M ~ffj~p !i•if4~7 ~ n Address t1i 7L~ (.-Y~ ~'?.f tw~ (SEAL) d a~rr 5 " 310 ~ac~ 168 J ~ i BS 75? Rev- 1 ! 79