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Home My WebLink About0886 ~ INSTALLMENT PROMISSORY NOTE . Turtte A~n! 1~tM:lates Z~c• (fU Amount R~teiwd : ' BANK NAME IBI Pr~nium (or Credit '.0. b~c `ld u~.ia~n~u~„ i~. s (C) Docu?rnntary Stamps 3 ~ _4F~i; E~oU~~i~ (D) Oth~r Chsrgss (it~mi:~) S ~CR .7.i! tEl t NOTE NO. ~ATED: ~y 21 . 19 78 (F) s (G) Amou~t Finanad (~Q•~ _ June 1 , ~g ~ (A, B, C, D, E, F) S ouE: ~ IHI Interest t • PLACE: . FI.ORIDA (l) Cr~dit Invtstigation = i (J) Oth~r ~ Z For valw racaved, the uncfersig~ed (hertinsttK called "Makei jointly and severally (if (K) S more than one) promise to pay to the ordK of the Bsnk, at its oitice listed above, the T~oqtaAl of Payments (ftom (N) at righi) of ~~1 Dollsrs payable in ~ S-~~"'~- equal monthly installments of S~!~i..OZ , the tirst ~MI FINANCE CHARGE ' (H, f, J, K, L) S ~nscallment due on ~]u~~Ll . 19~,$_, and wbsequent insullments due on (N) Total ot Paymen~s (G + M) S ~ s ~nefJ 4 day ot each month thereafter, togethe? with a FINA~ eA~IOON PAYMENT OF: ANNUAL PERCENTAGE RATE % S we~~ OUE The Bank shall impose a delinque~cy charge against the Maker on ar?y payment wAich has become due a~d remains in default fw a period in excas of 10 days in an amaint equal to 5X of tAe amount of ihe printipal part ot the payment in de(ault. In the ~vent that the Note is not paid i~ tull at maturity, all pay- ments, whether prinNpal, interest or otherwise, shall bear interest at the maximuin Iegal rate allowed unde? the laws of the State of Florida. AI! payments made hereunder sha11 be credited first to interest and then to printipal, however, in the event of detault, the 8ank may, in its sae discretion, spply any payment to ~nterest, principsl end/w lawiul charges then attrued. It is the intentio~ of the parties hereto that the provisio~s herein shatl ~ot provide directly or indirectly for the payment of a greater rate of interest or the rete~tion of any other charge than is allowed by law_ It, tor any reason, interest in exceu of weh legal rate or a chargs p~ohibited by 1aw shall at anY time be paid, any wch excess shall either tonstitute antl be treated as a payrt?ent on ths prinCipat dr be rofunded directly ~o the Meker. The AAaktr may prepay the entire unpaid balance ot the toan at any time. If the Ioan is prepaid in fult, accelerated or refinanced, the Maker shall reteive a ~ efund of the unearr~f portion o( the interest and inwrance premiums computed by the Rule oi 78's method, except that the Bank shall be entitled to retain a m~nimum interest cAarge oi Sb.00. CREDIT LIFE AND CREOIT LIFE & UISABILITY INSURANCE ARE VOIUNTARY AND NOT REQUIRED FOR CREOIT. Such insurance toverage is ava~lable at the cost desi9nated below for the term oi the credit_ (a1 S for Credit Life Inwrance (b) S for Credit Lite & Disability InsuranCe: Check ? Credit Life Inwrance is desired o~ the lite of qpp~. Birthdate Box ? Credit Lite & Oisability Inwrante is desired on Birthdate ~redit lite and/or Disability Inwrante is not desired. _ oate~ Ma~ Z1 ~ 197g ~ynacure ~ ~ ~ Si9nature ` As security for the payment oi the Note the Maker hereby grants to the 8ank a securiry interest in the followirg property: 1 w n ~ ~ aS ~B CI" ~ d ~ ~ - - ~ncl du~ing a incre s~s, u tuutions, replacements, additions and acceuions thereto and •.n the proceeds the~eof (hereinafter called "Collateral"!. This security II', ~nrerest shall also secure arty other indebtedneu or tiability of the Maker to the Bank direct or indirect, absolute or contingent, due o~ to t?ecome due, now ez- j ~sc~ng or hereafter arising, including all future advances or loans by the Bank to the Maker. ~ The Bank is also given a lien and a security interest in all property and securities of the Maker, endorser, wrety, guarantor or accommodation party of this Na[e (hereinafter reterred to as the "Obligors"1, now in or at any time hereaf~er rnming in[o ihe control, custody or posseuion of the Bank, whether for the ex- f p~essed purpose of being used by tM Bank as Collateral, or (or any other purpose, and upo~ any balance or batances to the uedit ot any accounu, including trust and agency accounts maintained withthe Bank by any of the Obligors, and the Obligors agree to deliver to the Bank additional Cotlateral or make wch payments in reduction of the principal amount of the loan as shall be satisfacto~y to the Bank, in the event the aforementioned Collateral shall decline in value ar becort?e unsatisfactory to the Bank. Additions to, reductians o~ exchanges of, or wbstitutions for the Coltatera~, payments on accou~t of this loan or increases of the same, or other loans made parc~ally or wholly upon the Collateral, may from time to time be made without aifecting the provisions of this Note. The Bankshall exercise reasonable care in che custody and preservation of the Collateral to the extent required by ~plicable statute, and shall be deemed to have exercised reasonable care if it taka such acc~on (or that purpoae as Maker shall reasonably request in writing, but. no omission to do any act not requested by Maker shall be deemed a failure to exercise ~easonable care, a~d no omiuion to comply with any request of Maker shall of itself be deemed a failure to exercise reasonable care. Bank sha11 not be bound to take any steps neceuary to preserve any rights in the Collateral against prior parties and Maker shall take all necessary steps for such purposes. The Bank or its norninee rxed not collect interett on, or a principal of, any Collateral or give any notice with respect to it. The Bank may continue to hold any Collateral deposited hereunder atter the payment ot this Note, if at the time of the payment and discharge hereof any of the parties liable for the payment hereof shall be then directly or contingently liable to the Bank as Maker, endorser, surety, guarantw or accommodation party ~ oi any other note, draft, bitl ot exchange, or othe~ instrument, or othervvise, and tF~e Bank may thereafter exe?cise all rights with respect to said Collateral ~ g~anted herein even though this Note shall have been wrrendered to the Maker. 1f [he Bank tleems itself insecure or upon the happening of a~y of the following evenes, each of which shall conscitute a default, alt liabilities of each Maker to ;he Bank, intluding the e~tire unpaid principal of this Note and accrued interest, less any unearned interest and any interest in exass of the mazimum allowed by law and any rebates required by law, shall immediately or thereafter, at the option of the Bank, except that the occurrence of (c) a(dl shall cause automat- ~c acceleration-without notice w demand, beoornedue and payable: la) the failure ot any Obligor to perform any obligation, liability or claim to the Bank, to pay x ~~ce~est hereon within lOdays after it is due, or if there is no due date, after it is billed or othervvise requested or demanded, w to pay any other liability what- ~ scever to the Bank when due; (b) the death of any individuel Qbligor, the diuolution of any partnership Obligw or the dissolution, merger a consolidation with- out the Bank's prior written consent oi any corporate Obligw; (c) the tili~g of a petition in bankruptcy w the adjudication of insolve~cy or bankruptcy unde? ~ any reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceeding under any Federa! or state statute, by or against any ~ Obligor, (d) an application for the appointment Gf a reoeiver fo~, or the making of a general auignment for the benefit of creditws by, a~y Obligor, (e) the entry ~ of ~udgme~c against any Obligor; If) the iuuirg of any attathment or garnishme~t, or the filing of any lien, agai~s[ any property of any Obligor, (g) the taking of ~ possession o~ any substantial part of the property ot any Obligor at the instance of any governmental authwity; (h) the determination by the Bank that a materi- - ~ al adverse Charge has occurred in the financial condition of any Obligw irom the conditions set forth in the most recent financial statement of wch Obligor I heretotore furnished to the Bank, or from the condition of wth Obligor as heretofore most retently distlosed to the Bank, or that any warranty, representatio~, ~ ~ ~ certificate or statement ot any Obligor (whethe? tontained in this Note or not) pertaining to or in con~ection with this Note or the loan evidenced by this Note , ~ contaios a~ untrue statement of material fact w omits to state material fact neceuary in order to make the statements made not misleading; or, (i) the assiyn- menc by a~y Maker of a~y equity in any of the Collateral without the prior artitten consent oi the Bank. ~ The Bank shall have, but shatl not be limited to, tF~e following rights, each of vrhich may be exercised at any time whethe~ or not this Note is due: (i) to piedge or transfer this Note an~S the Collateral and the Bank shall thereupon be relieved of all duties and responsibilities hereuncfer and relievecf (rom any and all ~ tiability with respeet to a~y Collateral w pledged or transferred, and any Rleciges o~ transferee shsll tor alI purposes stand in the place of ihe Bank hereurMer and have aN the rights ot the Bank hereunder; lii) to tronsfer the wfwle or a~y part of the Cotlateral into the name o( itself or its nominee; (iii) to vote ihe Collateral; ( iv) to notify the Obligors oi any Collaterat to make psyment to the Bank of any amounts due or to txcome due thereon; (v) to demand, we for, collsct, w ~ make any compromise or settlement it deems desirable with reference to the Collateral; and (vi) to take posseuion or controi of any procsecls of Collateral. ~ - "B.'U~K" as use~ hcrein a~eans Turtie R~:ef Assuctates, Inc. an~i/ar its assigns. NOTICE: SEE OTHER SIOE FOR IMPORTANT INFORMATION A ^ FB5 752 Rav. 7/77 Q"nK"(~ IJO~ vu~~ V ~ 1!~~ 0~' - _ . ~ .,..__u_..- : _ - - - ~