HomeMy WebLinkAbout1266 DISCLOSURE NOTE FOR INSTALLMENT LOANS {
First National Bank of Fort Pierce IAI Amount aeceivitA ' s 20,000.00
6ANK NAME 181 Premium for Credit
Life/OisabilrtY Ins. S 1.356.37
P.O. Box 970, Ft. Pierce, Florida ICI OocumentsryStamps s 32.10
OFFICE ADDRESS 10) Other Charges Gtemi:el ~ -Q-
October 10 79 IE? s -0-
NOTE NO. GATED: . 19_. IF1 ~ S -Q-
IGI Amount Financed 21, 388.47
ouE: October 10 , ls~. (A, e. c, D. E, FI s
IHI Interest = 18 457.73
PLACE: Ft . Pi eree, ,FLORIDA II? Loan Fee s 25.00
ill Other S -Q-
For vawe reserved, the undsrsrgned (hereinafter called "Maker") jointly and severally (il IKI S -A-
more than one) promise to pay to the order of the Bank, at its olfrce listed above, the Total
of Pavrnents Ilrom INl at right) of 539, 871 •20 Dollars payable in 120 IL) S -Q-
2.26 ,the first IMI FINANCE CHARGE 18 482.73
equal monthly installments of S~3 7p (H,'1, J, K, LI S
~nstallmenlIt due on NOV • 1 0 , 19~. and subsequent installments due on INI Total of Payments IG + M) S 39.871 .20
the 1 Ottlay of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 14.03 %
S n/a ouE •19
The Bank shall impose a delinquency charge against the Maker on any payment which has become due and remains in delault for a period in excess of 1U
clays in an amount equal to 5X of the payment in delault. In the event that the Note is not paid in lull at maturity, all payments, whether principal, interest or
utherwise, shall bear interest at 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 payment to interest, principal and/or lawful charges then accrued.
It is the intention of the parties hereto that the provisions herein shall not provide directly w indirectly for the payment of a greater rate of interest or the
retention of any other charge than is allowed by law. 1(, for any reason, interest in exitss of such legal rate or a charge prohibited by taw shall at any time be
oaid, any such excess shall either constitute and be treated 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 any time. 1( the loan n 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 115,00.
CtiEO(T LIFE AND CREDIT LIFE & OISABftiTY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwrance coverage is
available at the cost designated below for the term of the credit: (a1 s s 356.37 fOr (or Credit life Inwrance Ibl S
for Credit Li(e & Dissbitily Insurance: $18 s 08rj • Yq fO r 10 years .
Check ®Credit Lite Insurance is desired on the life of W • ~ • W i 1 (am5 Birthdate 6/18/21
Appl. ? Credit Life dr Disability Insurance is desired on Birthdate
(3oz ? Credit Life and/or Disability Insurance is not desired.
Gate: OCt • 1 D, 1979 Signature Signature
AF TE R ACQUIRED PRO?ERTYYYfIL tE SUd1ECT TO THESECURITY INTEREST ANO OTHER OR FUTURE INDEBTEDNESS ISSECURED BY ANY SUCH PROPERTY, AS FOLLOWS:
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 novi• or hereafter in
Bank's possession, and such security interest shall also secure all other liabilities of Maker to Bank, 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.
This is a Second Mortgage
Lot~l, Block 1 of C.D. Shafer's Subdivision of West 1/2 of the East 1/2 of Southeast 1/4--
of Southwest 1/4 of Section 4, Township 35 South, Range 40 East, according to a
Plat thereof recorded in Plat Book 7, Page 26 of the Public Records of St. Lucie County,
Florida.
If 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 o? insuror acceptable 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
~erernatter (or brevity called Obligor or Obligors) that:
Bank shall exercise reasonable care in the custody and preservation of the Collateral and shall fx deemed to have exercised reasonable care if it takes such
action (or that purpose as Maker shall reasonably request in writing, but no omission to comply with any request of Make. shall of itself bt 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-
s;on, exchanges, offers, tenders o? similar rnatdrs relating to any of the Collateral, nor for informing the undersgned with respect to any thereof. Bank shall not
be bound 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
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 time to itself or to its nominee any Collateral and to receive the income thereon and hold same as security heretor, or apply it on the
principal Qr.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 i( the Bank deems itself insecure, the entire unpaid
t 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-
d~ately due and payable: la) (aiture 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; (bl the death of any Obligor; (c) the filing of any petition under the Bankruptcy Act, or any similar (rdsral 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; lel the entry of a judgment against any Oblgor; (t) the issuing of any attachments or garnishment, or the tiling of any Tien, against
any property of any Obligor; Ig1 the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority;
(hl the dissolution, merger, consolidation, or reorganization of any Obligor; lil 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 wch 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: Ijl the assignment by
any Maker of any equity in any of the Collateral without the written consent of Bank; Ikl failure to do all things necessary to preserve and maintain the value
and cotlectibility of the Collateral, irtcltxfing, 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 Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a reco9miitd market, Bank will glut tv(aker rea-
snnable notice of the time and place of any public sale thereof or of the time alter which a private 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 the Bank, at least te:+
days before the time of the sale. Upon disposition of any Collateral after the occurrence of any default hereunder, Obligors shall be and remain liable for any
deficiency: and Bank shall account to Maker (or any wrplus, but Bank shall have the right to apply all or any part of wch wrplus (or to hold the same as a
rezerve) against any and all other liabilities of each or any Maker to Bank.
a Bank shall have, but shall not be limited to, the following rights, each of which may be exercised at any time whether or not this note is due: lal 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 all liability with
respect to any Collateral so pledged or transferred, and any pledgee or transferee shall for alt 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; Icl to notify the Oblgors on any Collat-
eral to make payment to Bank of any amounts due or to become due thereon; (dl to demand, sue for, collect, or make any compromise or settlement it deans
desirable with reference to the Collateral; and lel to take possession or control of any proceeds of Collateral.
No delay or omission on the part of Bank in exercising any rYght 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 taking of a renewal note without the signature of any
maker or endorse liable on this note shall not be deemed a payment or discharge of this obligation and the liability seated hereunder shall continue until this
note is paid in Lull. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneYS' lees equal to 10% of the amount
ugh an at law, includin 11
financed, or such larger amounts as may be reasonable and just if collected by Iegat proceedin r thro -att~or~~ 9 apps ate prixcedings.
The urid si ed o ceipt of o y of this note on this date.
Address 601 North 18th Street, - tsEAL?
ms
Address Ft. Pierce, Florida 33450 ~ ~ ~ IsEAL)
le e I ems
a~`~x 318 ~a~E 1261