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HomeMy WebLinkAbout0494 c 'DISCLOSURE NOTE FOR INSTALLMENT LOANS First National Bank ofFort Pierce Ia Amarnt Ret:eiwd s 9 , 000.00 BANK NAME Iel Premium for CrWit - ufe/oitaality In:. s none P,O, Box 970, Fort Pierce, -Fla. 33450 1C1 ootumentarystamps - s_ 13..65 - OFFICE ADDRESS IDI Other Charges (itemize) s-_nOri@ q7Q~ lEl S NOTE NO. OATEO: SE3Ut. 14 . 19~. fF) s none ouE: SeAt. 14 , IGl Amount Financed lg$~, fA, B, C, O, E, Fl S~_013.6$ IHI Interest s S , 3 6~'- P~ACE: Fort Pierce , rLO~IOA (Il Losn Fes S 20.00 For value received, the underi UI Otlter = ripri@ rgned (hereinafter Called "Maker") jointly and severally (if (K) S none more than one) promise to pay to the order of tM Bank, at its office listed above, the Total of Payments (from INl at right) of $14, 396.76 Oollarspsyable in 84 IU s ytnnP_ equa: monthly installments of S 171.39 ,the first lM1 FINANCE CHARGE S 383 11 lH, 1, J. K. L) S • installment due on OCt • 14 , , 19 79 ,and wbsequent installments dw on IN1 Total of Payments fG + M) S l4 , ~9 6 _ 7 6 the~~day of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 14.50 y(? s none DUE none ,19 The Bank shall impose a dNingwncy charge against the Maker on any payment which has become dw and remains in default for a period in sxcass of 10 days in an amount equal to 5~(i of the payment in default. to the event that the Note is not paid in full at maturity; a!! payments, whether principal, interest or otherwise, shall bear interest at the maximum Isgal rate allowed under tM law. All payments made hereunder shall be credited first to interest and then to principal, however, in the event of default, the Bank may, in its sole distxetion, apply any payment to interest, principal and/or lawful charges then accrued. It is the intention of the parties hereto that the proviitWts herein sl?all not provide directly or indirectly for the payment of 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 wch legal rats or a charge prohibited by law shall at any time be paid, any wch excess shall either constitute and be vested as a payment on the principal or be refunded directly to the Maker. The Maker may prepay the en- tire unpaid balance .of the-loan at arry time. If the loan is prepaid in full, atxNerated or refinanced, the Maker shat{ receive a refund of the unearned portion of the interest and insurance premiums comfwtad by the Rule of 78's method, except that the Bank shall be entitled to retain a minimum interest charge of 515.00. CREDIT LIFE AND CREDIT LIFE A DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwrance coverage is available at the cost designated below for the term of the txedit: lal s for Credit Life Inwronce (b1 S for Credit Life Jk Disability Insurance: Check ? tradit Life tnsurance is desired orr the life of Birthdate Appl. ? Credit Life dt Disability Insurance i< desired on Birthdate Box ~ Credit life and/or Disability Irtwrance is not wired. / / cafe: Sept. 14,1979 Signatwe lure -LGYl/ /l!wf'! AFTERACOUIREOPROPERTYWIlL6ESUdfECTTOTNESECURITYINTERESTANDOTHEAORFUTUREIN BTEDNESSISSECUREOBYANYSUC PROPERTY,ASf LLOWS: Maker hereby grants to Bank a security interest in the property, if any, described in the spat: low and in all other property of Maker rtow ortttereafter in Bank's possession, and such security interest shall etso secure all other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, presiflrPt _ or future. Tha aforesaid security interest excludes the Makers primary residencx unlttss said primary residence is described below. Second Mortgage:Lot 15 and the North i of Lot 16, Block 6, Maravilla Plaza as per Plat thereof recorded in Plat Book S, Page 44, of the Public Records of St.- Lucie County, Florida (f the Bank requires the Mtaker to obtain irtwronce coverage against loss or damage_to the t~tlateral securing the Makers indebtedness to the Bank, the Maker may obtain such coverage from any agent, broker or inwror atxeptable 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 hereinafter for brrwity called Obligor or Obligors) that: Bank shall exercise reasonable care in the custody acrd preservation of the Collateral and shall be deemed to have exercised reasonable Wre if it takes such action for that purpose -as Maker shall reasonably request in writing, cwt 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, conver- sion, exchanges, offers, tenders or similar mattdrs relating to any oI the Collateral, nor for informing the undersigned with respect to any thereof. Bank shall not be bound to take any steps necessary to preserve any righu in the Collateral against prior parties, and Maker shall take all necessary steps for such purposes. Bank or its 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 option to transfer at any tune to itself or to its nominee any Collateral and to receive the income thereon and hold same as security herefor, or apply ii on the I principal 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, or if the Bank-deems itself insecure, the entire unpaid balance 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 imme- diately dw and payable: (al failure of arty Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank or any in- stalment thereof or interest thereon; (b) the death of any Obligor; (c) the filing of any petition under the Bankruptcy Act, or any similar federal o? state statute, by or against any Obligor; (d) an application for the appointment of a receiver for, the making of a general assignment for the benefit of creditors by, or the insotvertcy of any Obligor; lel the entry of a judgment against any Obligor; (f) the-iswirtg of arty attachments or garnishment, or the filing of any lien, against any property of any Obligor; (gl the taking of possession of any wbstantial part of the property of any Obligor at the instance of any governmental authority; ih) the dissolution, merger, consotidatioit, or reorganization of arty Obligor; (i1 the determination by Bank that a material adverse change has occurred in the financial condition of any Obligor from the conditions set forth in the most recent financial statement of wch Obligor heretofore furnished to Bank, or from the condition of sucFt Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificbte, or statement of any Obligor (whether contained in this note or not) pertaining to or in connection with this note or the loan evidenced by this note is not true; G? the assignment by any Maker of any equity in any of the Collateral without the written consent of Bank; Ik1 failure to do all things necessary to preserve and maintain the value and colltxtibility 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 the grace period. Unless the Cdlateral 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- sonable notice of the time and peace of any public sale thereof ex of the time after which a private sale will be held. The requirement of reasonable notice sl?all be met if such notice is mailed, postage prepaid, to arty Maker at the address given below or at arty other address shown on the records of the Bank, at least ten days before the time of the sale. Upon disposition of any Collateral after the oce:urrence of any default hereunder, Obligors shall be and remain liable for any deficiency; and Bank shall account to Maker for any wrplus, but Bank shall have the right to apply all a any part of such wrplus (or to hold the same as a reserve) against arty and all other liabilities of each or arty Maker to Bank. Bank shall have, but shalt not be limited to, the following rights, each of which may be exercised at any time whether or not this note is due: (al to pledge or transfer this note and the Collateral, whereupon Bank shall be relieved of all duties and responsibilities hereunder and relieved from any and a!I liability with respect to any Cdlateral so pledged 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; Ibl to transfer the whole or any part of the Collateral into the name of itself or its nominee; (c) to notify the Obligors on any Collat- eral to make payment to Bank of any amounts due or to become due thereon; (d1 to demand, we tor, collect, or make any compromise or settlement it deems desirable vrith reference to the Collateral; and le) to take possession or control of any proceeds of Collateral. No delay tx omission on the part of-Bank in exercising any rght hereunder shall operate as a waiver of sucft right or of any other riyttt under this note. No v+aiver or alteration shall M binding on Bank unless in a writing signed by an authorized Bank officer, and then only to the extent specifically set forth therein. Presentment, demand, protest and notice of dishonor, are hereby vvatved by each and every Obligor. The taking of a renewal note without the signature of any maker or erxforser 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, jointly and severalty, promise and agree to pay all costs of collection, including attorneys tees equal to IONt of the amount i~nanced, or such lager amounts as nwy be reasonable acrd just if collected by legal proceed' gs or through an attorney a aw, including appellate proceedings. The undersign acknowledge receipt of a e copy of this note on this date. Address 2996 Admiral llr. , Ft. Pierce, Fla. ~ (SEALI 33450 Kennethy T. Sct/~v~tarz Address ~ti ice? -~C ~j`~ I~~= ~ (SEALI e~ Nu~eva Kay Schv~ rz B~Jl~~. PACE 4y.3