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HomeMy WebLinkAbout0687 rDISCIOSURE NOTE FOR -INSTALLMENT LOANS ; •.r z d First Hatt oral Bank of Fort Pierce lAl Amount Received S 4~ 400.00 BANK NAME let Premium fo. Credit Life/Disability Ins. S 125.47 P . O . Box 970, Fort Pierce, Fla. -33450 IC) Documentary stamp: S 6 R 90 OFFICE ADDRESS 101 Other Chsrges (itemize) S none IEl Ss1Qrie MOTE NO. DATED: Sept. 24 • . 19...~. IFI s none p,~,~~q~ iGl Amount Financed UUE:_ iriP~*'"i dGT ~ , X982 tA, e, c, o, E, F) s_ 4, 532.37_ li+? Int«at s 1, 024.0'^ PLACE: FOrt Pierce ,FLORIDA l11 Loan Fee g 20.00 ul oth« s none For value received, the undersigned lherainafter called "Maker") jointly and severally (if IKI more than one) promise to pay to the order of the Bank, at its office listed above, the Toul S- T1nTIP_ of Payments (from (N) at right} at $5, 576.40 Dollars payable in 36 IL) s_nOne Enuet monthly installments of S 154.90 - - ,the first itiill FINANCE CHARGE (1~, 1, K, u s _ 1.044.03 rnstaUrrrent due on -+~~~/lV 1979 ,and wbsaquent insullments due on (N1 Tots1 of Payments (G + M) S _ 5 576.40 the~ay of each month ;Hereafter, together with a FINAL BALLOON PAYMENT OF: ~NNU4l PERCENTAGE RATE 14.00 5 none (~,IjF none .Ig The Bank shall impose a del~rrgr;ency charge against-the Maker on any payment whicA has become due and remains in default for a period in excess of 10 ci:rys in an amount etlssal to of the payment in default. In tht event that the Note is not paid in full at maturity, all payments, whether principal, interest or otherwise, shall bear interest at the maximum legal rate allowed undeE the 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 d'aaetion, apply any payment to interest, principal and/or lawful drargea then aot:rued. It is the intention of the partite hereto that the provisions herein shall not provide directly Or irKlirectly for the payment of a greater rate of interest Or_the retention of any other charge than is allowed by law. It, for any reason, interest in excess of such legal rate w a charge prohibited by law shall at any time be paid, any such excess shat( eitaer constitute and be treated as a payment-on the principal or be refunded directly to the Maker. The Maker may prepay the en- *.ire unpaid balance of the loan at any-time. If the loan if prepaid in lull, accelerated or refinanced, the Maker shall receive a refund of the unearned portion of _ rh? interest and insurance premiums computed by the Rule of 78's method, except that the Bank shall be entitled to retain a minimum interest charge of $15.00. CREDIT LIFE AND CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREDIT. Such insurance coverage is availoble at the coat designated aebw for the term of the credit: lest S 12 5.47 for Credit life Inwrance lbl S _ fur Credit Life b Disability Insurance: - ChCradit Life Insurance is desired on the life of George P. Hfers Birthdate 7/23/30 Appl. ? Credit Lite de Disability Insurance is desired on ~ Birthdate Box ? Credit Life andior Disability Irutrrance is rro red. ` - Date: SE:At. 24, 1979 gnature ignature " AFTERACQUIREOPROPERTYN!ILIB~SUBJEC TYI ES ANDOTH RORFUTUREINDEBTEDNESSISSECURE08YANYSUCHPROPERTY.ASFOllOVtS: I Maker hereby grants to Bank a security interest in the pr ty, it any, described in the space below and in all other property of 6laker now or hereaher in Bank's posseuion, and such security interest shall also secure all other liabilrties of Maker to Barik, whether primary, secondary, direct or contingent, present nr f;,ture. The aforesaid security in:erect excludes the Makers primary residence unless said primary residence is described below. - Second Mortgage - _ ~ From the intersection of the center line_ of Oleander Ave, and Si~~h St. , White City, run East 760 feet for point of beginning;-thence continue East 100 feet; thence Nctth 120 feet; thence West 100 feet; thence South 120 feet; to point of beginning; being in Section 3, io~~ hi~ ~6~$oqutb~Ra~~~ 4O~~ast~pt~~ofrdWhfte City, as rec~rded in Plat book 1, page 200 If thec62fiK~~urr~s tR8 ,zRe4 o f'ai . r ge to the collateral escort the Makers indebtedness to the Bank, the Rlaker may obtain such coverage from any agent, broker or insuror acceptable to the Bank. It is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other parcy to this note Ial1 of whom are hereinafter for brevity called Obligor or Obligors) that: Bank shall exercise reasonable tare in the custody acrd preservation of the Collateral and shall be deemed to have ezercis!Kf reasonable care if it takes such action for that purpose as f:1aRS? shalt reasonably request in writing, but no omission to rnmply with any request of Maker shalt of itself be deemed a failure to exercise reasonable care. f,Y;'rout limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaininy any maturities, calls, convex- Sion, exchanges, offers, tendezs or srrnilar matters relating to any of the Collateral, nor for informing the undersigned with respect to any thereof. Bank shalt not be bound to take any steps necessary to preserve any ri~rts in the Collateral against prior parties, and Maker shall take all necessary steps (or such purposes. Bank nr its nominee need not co!lec; :n:>rest on or principal of any Collateral or give any notice with respect to it. Right is hereby expressly granted to the Sank at its option to transferal any time itsttf or to its nominee any Collateral and to receive the income thereon and hold same as security herefor, or apply it on the prir+.~:pal or interest due hereon ordue on any liability secured hereby_ ~ Upon the happening of ant of ins follovvino events, each of which shall constitute a default hereunder, a if the Bank deems itself insecure, the entire unpaid I balance of this note and all othe• liabilities of each Maker to Bank shall thereupon or thereafter, at the option of Bank, without notice or demand, become imme- ci~ately due and payable: lest fay+~rs of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability svhatsoeier to Bank or any in- stal ment thereof or interest thereon; (bl the death of any f~ligor, t-c1 the filing of any petition under the Bankruptcy Act, o+ any similar federal or 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 insolvency of any Obligor; ~e; .~i_ entry of a judgment against any Obligor; (f) the iswing of any attachments or garnishrrwnt, or the filing of any lien, against any property of any Obtrgcr: *I:e taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; ih) the dissolution, mer;er, :onsoiiCation, or reorganization of any Obligor; (i) the determination by Bank that a material adverse Chang? has occurred in the frnancial Coridi[ion of any G^,.ry~r From the conditions set forth in the most recent financial statement of such Obligor heretofore furnished to Bank, or from :he condition of such Ob4g~r as here*.ofore most recently disclosed to Bank in any manner; or that any vvarraaty, representation, certificate, ar sta!ement of any Obligor (whether contained i^ this note pr rot) pertaining to or in connection with this note or the loan evidenced by this note is not true; ijl the assignment by any h1aker of any equity in u^y of the Collateral without the written consent of Bank; (k1 failure to do all things necessary to preserve and maintain thevatue and colleetibility of the C~?:s:eraf, 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 Callaterat is p?: fishable or threatens to dsdine speedily in value or is of a type customarily sold on a recognized market, Bank wilt give f4laker rea- son~ble notice of the time and place of any public sale thereof or of the time after ti`Atich a private sale will be held. The requirerrr>nt of reasonable notice shall lie met if such notice is mailed, postage prepaid, to any Maker at the address given below or at any other address shown on tfre rocords of the Bank, at least ten - riays before the time of the sate. Upon disposition of any (:ollateral after the occurrence of any default hereunder, Obligors shall be acrd remain liable for any deficiency; and Bank shat{ account to Maker for any wrplus, but Bank shall have th? right to apply all or any part of such surplus for to holJ t!re same as a reserve) against any and all our?r liabilities of each or any iWaker to Ban~C. Bank shell (rave, but shall not be limited to, the following rights, each of which may be exercised at any time whether or not this note is die: (a) to pledne - or transfer this note and the Collateral, whereupon Bank shall be rel;evrd of all duties and responsibilities hereunder and relieved from any and all liability with respect to any Collateral so p:e3ged or transferred, arld any pledgee or transf?rae shall for all purposes stand in the place of $ank hereunder and have all the rights to Bank herein:der; Ibl to transfer the whole or any part of the Collateral into the name of itself or its nominee; lcl to notify the Obligors on any Collat- eral to makg payment to Bank of any amounts due or to become due thereon; (dl to demand, sue tor, toiled, or make any compromise or settlement it deems rlesir~ble smith reference to the Collateral; and 1e1 to take possession or control of any proceeds of Collateral. tJo delay a omission orr the part of Bank in exercising any right hereunder sf~atl operate as a waiver of wch right or of any other right uns+er this note. No :(:fiver or alteration shalt be binding on Bank unless in a writing signed by an authorized Bank officer, and then only to the extent specifically set forth sherein. Pre'~niment, derrrind, protest and notice of dishonor, are hereby snraiverf by each and every Obligor. The taking of a renewal note withotrt the signature of any maleer or endorser liable on this note shall not be deemed a payment ar discharg? of thi: obligation and the liability created hereunder shall continue until this note is paid in full. The Obligors, lointty and severally, promise and agree to pay alt costs nt collection, including attorneys fees equal to 10% of the amount financed, or such larpr amounts as rrwy be reasonable aruf just if collected by Ingest proceedings or through an attorney at lessor including apxlla:e proceedings. ' -The undersi ~ k:rovrledge reG:ipt of a comp~etl copy of this note an this dace. nc.+dress 705 Anita St. , Ft. Pierce, Fla. 33450 7 , " IsEAu G o' P fers llddr055 ' ISEAU Joan .Hfers - - ~3~7 P~ 686