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HomeMy WebLinkAbout1040 - DISCLOSURE NOTE FOR INSTALLMENT LOANS I~ Jr~~ I~t - IA) Amount Repined i;,;3,~:~~_ BANK NAME: 18I Premium for Credit • life/Disability Ins. _ *8. 11r~ .7~, - JNSI~ 7~l!>~ lC) Documena?y Stamps ' ~ 12.a0 OFFICE AGGRESS (O) Outer Charges (itemize) - ~ a~ --0w NOTE NO. GATED: e ~ - , 19 IF) 3" - ~ - IG) Anwunt Financed ' DUE: u ,•19 IA, 8, C, O, E, F) _ ~ - IH) Interest ~ • PLACE: 1~r ,FLORIDA (1) loan Fee S "'a IJ) Other S "a° Far value received, the undersigned (hereinafter called "AAaker") jointly and severally fit (K) - ~ - more than one) promise eq pay to the order of the Bank, st its office fisted show, the Tots) of Payments (from (~11 st right) of 10s~s~ Golfers payable in ~ (L) s- e~val monthly installments of s ~e~ ,the first IM) FINANCE CHARGE = a•Ie•O~ K ~9 IH, f, J, K, LI s ,nstallment due on , 19 ~ ,and wbsequenc mstalMxnts due on - IN) Total of Payments IG + M) ! ~ the Z6dsy of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE - ~ • S OUE , 19 - The .bank shall impose a delinquency charge sgairtst the Maker on any payment which has become due and remains in default for a period in~excess of 10 days in an amount equal to ~ of the payment in default. In the event that the (Vote is not paid in full at maturity, ail payments, whether principal, interest w otherwise, shall bear interest et the maximum legal rate allowed under 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 discretion, apply any paymenCto interest, principal and/or lawful charges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly Or indirectly foc the paymer?t 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 rate or a charge prohibited by law-shall at any time be paid, any such exceu shall either constitute and be treated m a payment on the principal or Ix refunded directly to the Maker. The Maker may prepay the en- tire unpaid balance of the loan at any time. If the loan a prepaid in full, accelerated or refinanced, the Maker shall receive a refund of the unearned portion of the 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_UFE AND CREDIT LIFE dt OISAffILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT.-Such inwrance coverage is available at tM cost designated below for the Germ of the credit: Ia) Z ~0" for Credit Life Insurance Ib) Z - for Credit Life dr Disability Inwrartce: - Check ? Credit life Insurance is desired on the life of Birthdate - Appl. r?~ Credit Life A Disability (nsurante is rksired on Birthdate Box L+JQredit Life and/or Disability Irtwrartos~tdesrred. / Gate: ~~1~! ~+ls~ Signature ~ lure; AFTERACBUIRED?ROPERTYMIIILBESUIJECTTOTHESECURITYINTERESTANDOTHERORfUTU INOEBTEONESSIS UREDiYANYSU )IPROPERTY,ASFOLLOYYS: Maker hereby grants 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 elf other liabilities of Maker to aartk, 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. ' SIB' .~e ~ ~t fs• j - - - - - -a .~auu~ nr !f the Bank requires the Maker to obtain insurance coverage against loss or damage to the collateral securing the Makers indebtedness to the Bank, the Maker may obtain such coverage from any agent, broker or inwror acceptable to the Bank_ It is jointly a.~d 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 brevity called Obligor or Obligors) that: - Bank shall exercise reasonable care in the wstody and preservation of the Collateral arrJ shall be deemed to have exercised reasonable care if it takes such action fnr that purpose as Maker shall reasonably request in writing, but no omission to comply with any request of Maker shall of itself be deemed a failure to exercise reasonable care. Without limiting the generality o1 the foregoing, the Bank shall have no responsibility for ascertaining any maturities, calls, rnnver- sion, exchanges, offers, tenders of similar mattln relating to any of the Collateral, rror for informing. the undersigned with respect to any thereof. Bank shall not be bound to take any steps necessary to preserve any rights in the Collateral agairut prior parties, and Maker shall take all necessary steps for such purposes. Etank or its nominee need not collect interest on or principal of any Collatral Or give any notice with respeCtto it. Rght is hereby expressly granted to the Bank at its option to irarrsfer at any time to itself or to its nominee any Collateral and to receive the income thereon and hold same as security herefor, a apply it on the principal or interest due hereon or due on any liability secured hereby_ Upon the happening of any of the following events, each of which shaft 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, became imme- diately due and payable: la1 failure of any 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; lc) the filing of any petition under the Bankruptcy Act, o: any similar federal or state star: ne, by or against any Obligor; (dl an application for the appointment ci a receiver for, the making of a general assgnment for the benefit of creditors by, or ti:a insolvency of-any Oblgor; (e) the entry of a judgment against any Obligor; (f) the issuing of any attachments or garnishment, or the filing of any lien, against any property of any Obligor; (g) the taking of posseuion of any wlxtantial part of the property of any Obligor at the instance of any governmental authority- (h) the dissolution, merger, consolidation, or reorganization of any Obligor-, li) the determination by Bank that a material adverse change has occurred in the financial condition of any Obligor from the conditions set forth in tfte most recent financial statement of wch Obligor heretofore furnished to Bank, or from - the condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, representation, certificate, 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; (j) the assignment by _ any Maker of any equity in anY of the Collateral without the written consent of Bank; Ik) failure to~do all things necessary to preserve and maintain the value and collectibility of the Collateral, including, but not limited to, the payment of razes and premiums on policies of inwrance on fire 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 customarigr sold on a recognized market, Bank will give Maker rea- sonable notice of the time and place of any public sale thereof or of the time after which a primate sale will be held. The requirement of reasonable notice shall be met if such notice is mailed, postage prepaid, to any Maker at the address given below or at any other address shown on the records of theBank, at least ten days before the time of the sale. Upon disposition of any Cdlateral after the occurrence of any default hereunder, Obligors shall be and remain liable for any deficiency; and Bank shall account to Maker for any surplus, but Bank shall have the right to apply all or any part of wch surplus (or to hold the same as a reserve) against any and all other liabilities of each or any Maker to Bank_ Bank shall haw, but shall not be limited to, the following rights, each of which may be exercised at anytime whether or not this note is due: la) co pledge or transfer this note and the Collateral, whereupon Bank shall be relieved of all duties and responsibilities hereunder and relieved from any and all liability with respect to any Cdlateral so pledged or transferred, and any pledgee or transferee shall for elf purposes stand in the pfap of Bank hereunder and have alt the rights to Bank hereunder; (b) to transfer the whole or any part of the Collateral into the name of itself or its nominee; Icl to notify the Obligors on any Cdlat- eral to make payment to Bank of any amounts due or to become due thereon; Idl to demand, we for, collect, or make any compromise or settlement it deems desirable with reference to the Collateral; and (el to take possession or CQntr01 of any proceeds of Cdlateral_ No delay a omission on the part of Bank in exercising any right hereunder shall operate as a waiver of such right or of any other right under this note. No waiver or alteration shall be 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 waived by each and every Obligor. The takirg of a renewal note without the sgnature 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, jointly and severally, promise and agree to pay all costs of collection, including attorneys' fees equal to 10% of the amount financed, or such larger amounts es may be reasonable and just it collected by legal proceetfirvgs or through en attorney a law, including appellate proceedings. The u signed acknowl e i a tad copy of this note on this date. ~ ~ e ~ Address ~ ~S'~ a t~'t L7~~e ; v" ? ISEAL) ~ - • ~ Address = ' ~ j (SEAL) 1 ~ t uyf~~~~ (A(K~~ FBS 752 Rev. 7/79 '