HomeMy WebLinkAbout2421 DISCLOSURE NOTE FOR INSTALLMENT LOANS -•r;.~- i+~• SRW ~ ~ -
Jensen Beach Bank IAI Ansonm Received =
BANK NAME IBI Prertwum ftsrCredlt
. _ Lile/Disability Int. i Qj,l~. ~7
P . 0. Box 7 Jensen Beach •Fl . .33457 Icl Documtntsry sump, ~ : 'l? .25
OFFICE AOORESS Ibl OtMr CMrpp humizel _ -n-~
rip 1•E NO. 'DATED: ' TL1nC 15 _ ~s ~79• , IFl _ ~ ~ _ _ _n_
s _ ~ 'I ~t'~'_ t i~ ~ ~ 1f31 'Amount Financed ; t~l 1 .
ouE JiII1e j , • ~ -1 ts..8,b., - iU?; B, C;-o, Er F! - .431.62
l' t. ell- l~l• 1?' tl, ,t I~il~nte+nt j• ? -S_98d'_9d•
~ melt ~ ~ ~'r j•r r~"' . t r•' ~ FLQgIDA' - ,(1) ' ~rrldit~lnyestjgatron i 1
PLACE: iPTCr3t1 g '
For value reserved, tM undtnigrted lhtieinaita.called "Makt?r:1 Jointljr~and }evsralljr~ ~ • ~ .
more than one) promise tti pay to the: order of the Bank, at its off iq lisittd above. the Tool ~ : ~
of Payments (from (N) st righll of ' 7 7 r 416: S6 _ Dollars payaDN iti 84 i 7 i i W ~ ~ • _ • - - -
equalmonthlyinstsl?mentsofS 207 ;4 ,tj,~firit' .IMI~FINANCECHARGf t !'5.984.94
installment due on '.IL1];LZ , 191Q, and wbsequent installments due on lNl Total oL Payritertts iG1'M) • s
rne_1_daY of each month tlssreafter, Together with s FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE•RgTE ' X
S _Q~ DUES .A. . ~ 19
The Bsnk shall impost a delinquency tltarpe agsir?st tM Maker on sny payrrNnt which has become due and remains in default for a psrbd in excess of 10
days in an amount pusl to 9X of tM amount of tiw.prirtcipsl pert of tM paynsent in default. to tM event that the Note is not paid ire full at rt?aturity, all psy-
rrvnts, whether principal, intarast.or otherwiM. shall bear. interest at tM maximum legal rate allowed under tM law: All payments made herturdar shall W
ueditad first to intjsrest and thM to prirsdpM, hptsjevsr,, in the ewsnt of dafautt, tM Bank may, in its sole discretbn, apply any payment to interest, principal
and/or lawful therges then socrtNd. It k tM intention tif'tft~ pfrtias hereto that tM provisions herein shell not provide directly o? indirectly for flea psymertt 1
o? a greeter rats of interest or else retention of• any gtMr•tharye ~p Ir slbw~d• b1/ law.. If; for any reason, intttrest in•exoess of such legal rate or s eMrge pro- t
n~pited by law shalt at sny time bs paid, sny writ sxtxst shall either torotituta snd.M trnateYl~ss p paymerK on tM principal or bs refunded directly to the i
Maker. The Maker may prepay tM entire unpaid balance of the loan st sny torts: If tM loan is pi{paid its lull, srxeleratad or refinarsted; the Maker shell•raceive t
a refund of tM unearned portion of the interest end ir?surarice premiums
t:otrsputed bythe Rule of 78's ttsetfttid, exppt that tM Bank shall lee entitled to retain
a m~nrmum interest thsrye of =5.00. ~ ` : i i i ; • . i ! ~ r' 3' I
CREDIT LIFE AND CREOiT LIFE a>r DISABILITY INSURANCE ARE VOLUNTARY AND fVOT•REQUIRED FOR CREDIT: Such inwran_acovsnps a
available at tM coat designated below for the term of tM erndit:-.ia) S-9,i 4.37 - for Gedit life Inwrana iW•s -il-
tor Credit Life di Disability Jnwranq: ~ i; t •
neck ~ Credit Lite Insursttce is desired on tM life Of - B'rrthdate d_.;?;?9
Appl, ? Credit life b Disability Irtsurantx is desired Deer ~ ~ . ° ' ' 8irthdats ' .
. ¢i:
Box ? Credit Life end/or Disability Irsw c - .
Date: _ l /Y/7 I signat~.. - sign,ture o
AFTERACOUIREO?~ Y1MILtSESUIJECTTO_ C RIT1fINTERESTAM00TNERORftfTURE1MDElTEONESSISSECUREOdyAMYSUCNf•RO?ERTY,ASfOLtOwS:
Maker hereby grants to Bank s security interest in the property, if any, described in tM space below seed in all other property of Maker now or hereafter in
Bank's possession, and such security interest.shsll erltlO secure ell other liabilities of Maker to Bank, whether. primary, secondary, direct or contingent, present ?
u- future. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below.
•
Lot 197 in Holiday Out, ~'St. Lucie, ~as: described in said mortgage,
t t 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
r>.e~q nbtam such coverage from sny agent, broker or inwror acceptable to the Bank.
j I t is jointly and severally covenanted and agreed with the Bank by each Make , endorser,•surety, guarantor, and other. party to_ this note (all of -whom are
~•~,~nafter for brevity calfedObligor or Obligors) that: ~ • - 11 ~ ~
Bank shall exercise reasonable tare in the custody and preservation of the Collateral and~tthall be deemed to have exercised reasonable tare it it takes such
c ; ::,r. for that purpose as Maker shalt reasonably request in writing, but no omission to comply afith any. request of Maker ihsll Of itself be deemed a failure to
..e~c~se reasonable care. Without limiting the generality of the toregoing,.the Bank shall have no responsibility for ascertaining any •maturities; calls, conver-
v .n, exchanges, offers, tenders or similar manors relating to any of the Collateral, rtocfor informing the undersgned with respect to any thereof. Bank shall not
. r,ound 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
t ors nomrnee need not collect interest on tN principal of any Cdlateral or give any notice with respect to it. Right is hereby expressly granted to the Bank at its
~ q~t~on to transfer at arty time to itself or to its nominee any Collateral and to receive the income [hereon and hold same as security herefor, or apply it on the
1 r•• nc~pal 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, w if the Sank deems itself insecure, the entire unpaid
;;rice of this note and all other liabilities of each Maker to Bank shall thereupon of thereafter, at the option o1 Bank, without notice or demand, become imme-
;cP~y due and payable: lal_ failure of any Obfigor to perform any agreement hereunder or to pay in lull, when due, any liability whatsoever to Bank or any in- i
s•_ Tenant thereof o? interest thereon; Ibl the death of any Obligor; (el~the filing of sny petition under the Bankruptcy Act, or any similar federal or state statute,
r;, or against any Obligor; Id) an application for the sppointment'ot a receiver tor, the making of a general assignment for the benefit of creditors by, or tM
ns!,t vency of any Obligor; lel the entry of a judgment against sny Obligor; If) flee issuing of any attachments or garnishment, or the filing of any lien, against
::-,y property of any Obligor; ig) the taking of possession of any substantial. part of ilia property of any Oblgor arthe instance of arty governmental autho.ity:
9 +n; the dissolution, merger, consolidation, or reorganization of any Obligor;.(il the determination by Bank that s material adverse change has occurred in the
~n~ial COndItlOn Of any Obligor from the conditions set forth'in the most recent financialstatement of such~Obligor,heretolore furnished to Bank, or from
9 .r condruon of such Obligor as heretofore most iecently.disdosed to Bsnk in any- manner; or tlist any vwrranty, representation, certificate, or statement of any
(?;.f:gor (whether contained in this nOteor notl pertaining to or.in connection with this note or the loan evioertced py this note is not true; (j) the assignment by
~y Maker of any equity in any of the Cdlateraf without the written consent •ot.8ank;.tk) faJure to do all things necessary to preserve and maintain the value
• ^ coueaibibty of the Collateral, including, but not limited tti, the payment of taxes and premiums on policies of insurance on tlss due date without benefit of
;ti., ~+ace period_ .
unless the Collateral is perishable or threatens to decline speedily in value or K of a .type CustonWrily sold on a recognized market, Bank will give Maker rea-
+e nonce of the time and place of any public sale thereof or of the time after which a private sale will rte held. The requirement of reasonable notice shall
mar rf wch notice is mailed, postage prepaid, to any Maker at the address given below or at sny other address shown on the records of the Bank, at least ten
-!~ri oefore the time of the sale. Upon disposition of any Collateral alter the ocwrrence of any default fereunder, Obligors shall be and remain liable for any
~~ciency: and Bank shall account to Maker for any wrplus, but Bank shall Rave the right to apply all or sny part of such surplus (or to hdd the same as a.
•:el against any and alt other 6sbditres of each or any Maker to Bank.-
Bank shall have, but shall not be hmrted to, the following rights, each of whtch may be exercised at any time whether or not this note is due: iel to pledge
r}ansfer this note and the Collateral, whereupon Bank shall be relieved of all duties end responsibilities ftereursder and relieved from any and ell liability with
f' rr>nect to any Cdlateral.so pledged or transferred, and sny pledgee or transferee shall for all purposes stand in• the plats of Bank hareursder and have all the
j ..,tits tc Bank hereunder; Ib) to transfer the whole or any pxt of the Collateral into the narna'of itself or its nominee; Ill to notify the Obligors on any Collat-
to make payment to Bank of any amounts due or to become due thereon; Idl to demand, we for, collect; tx make ury compromise or statkment it deems
rtesuable with reference to the Cdbtcral; end leT to take possession or contrd of any psopedsof Cdlateral.: , ; • .
No delay o. omission on Cite part of Bank in exercising any right herwndsr sftall.operata ss a waiver.Of wch right' o? of sny other right under this note. No ,
v.a,ver or alteration shall be binding on Bank uNess in a writing sigrtcd111r an suthwiied B k officer, and then to the extent jtpecifitally set forth therein.
Presentment, demand, protest end notice of dishonor, are hereby tnsivtll by each and a Ipbligo?.TMtakirsg o a renewal note without the sgnawre of any ~
maker or endorser liable on this note shall tort be deemed s payment o?dscftrgs o1 oW' on and the.liabil nested hereunder shalt continue until this ,1
re a paid in full. The Obligors, Jointly and severally, promise end agree to pay all s of ion; irtCJtdi attorneys= fees equal to l0% of the amount
n ,n: act, or such larger amounts as rrwy fx reasonable srd just if collected by r or the t1n orrtey at law, irscludirlg appellate proceedings. ii
• The norrA of a eted copy of this note on this date.
A.: tress 7~127~ P~natezTW~rren,MI 480Q1 ~ 2 ISEAU
c eerie
<,,;t.e:: 23823 Panama.Warren.MI 48091 J iSEAU
~ - •e er i
r~ aoc~31~ ~acE2419
M