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HomeMy WebLinkAbout0074 DISCLOSURE NOTE FOR INSTALLMENT LOANS Jaen 8a1~ IA! Amount Reserved S `yua•~ BANK NAME IBI Premwm for Credrt 4TS•9~ Lil~Jpisahildy Ins. $ 1939 ColASrc+itl St., Jtq~sen DOACh, 81oriJa 334ST Ic? Documentary Stamps s 1 .1 ` OFFICE ADOR SS (0) Other Charges Irtemrtel S "Q~ ' IE? S ~0• ^:OTE NO. DATED: ~ . 19~ IFl S IGi Amount Financed 9e34a•~ nuE Of~t~ber ~ , 19.~. IA, B, C, D, E, Fi S fH1 Interest S =„ssl.~ tit ACE: J~flr ~ ,FLORIDA Ill Loan Fee S •4• iJl Other S •0• - For value received, the undersigned (hereirwtter called "Maker '1 jointly and severally Gt (K) S •a ~~.xe than one) prornrse to pay tote rder of the~~ank, at its office listed above, the Total ,i Payments (from lN1 at right) f ~1~~b90.60 Dollars payable m ~ ILI S •Q• e.tuai monthly ir?stallrtNnts of S ~ ,the fast IM) FINANCE CHARGE s 3a11.8~ (H, 1, J, K, Li S ~ nzrallment dye qn>~~ . 19~. and subsequent installments due on (N) Total of Payments iG + M) SiZi~~•~ :ne_~ily of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 1Z•~ 1 MN••~••• ~ ouE . is The Bank shall impose a delir?quertey charge against the Maker on any payment which has become due and remains in default for a period in excess of 1U :_,ys +n an amount equal to Jai of the payment in default. In the event that the Note rs not paid in tut( at maturity, all paymems, whether principal, interest or „tnerwise, shall bear interest at the maximum legal. rate allowed under the law. All payments made hereunder shall tx credited first to interest and then to u~ ~nc+pal, however; in the went of default, the Bank may, in its sole discretion, apply any payment to interest, principal and/or lawful charges then accrued. i= a the intention Of the parties hereto that the provisions herein shall riot provide directly o+ indirectly for the payment of a greater rate of interest or.the # eeenuon of-any other ehacge than is allowed by law. 11, !or any reason, interest in excess of such legal rate or a charye prohibited by law shall at any time be r;.~~d, 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- :~re unpaid balance of the foam at any time. If the loan is prepaid in full, accelerated or refinanced, the Maker shall receive a refund of the unearned portion of the +nterest and insuranc8 premiums computed by the Rule of 78's method, except chat the Bank shalt be entitled to retain a minimum interest charge of 515.00. CREDIT LIFE AND CREDIT LIFE Br DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Suach. insurance coverage rs avaelable at the Coat designated below for the term of the credit (a? S for Credit Lile Insurance Ibl S tot Credit ~Ltife dr Disability Insurance: Check C1 Gedit Life Insurance is desired on the life of ~illi~ T~ S~>g B~•thdar. 5-16-19 Appl. ? Credit Life 1!; Disability Insurance is desired on Birthdate Box ? Credit Life and/•aM~Diss,ability Insurance is not d/e/liJed~~~~,,~, D-etc: a~~ 17/i Signatwe s •!-.ar ~`~~_L~ + attire Af T E R ACQUIRED PROPERTY tiYlll 8E SUBJECT TO THE SECURITY INTEREST AND OTHER OR FUTURE INDEBTEDNESS IS SECURED BY ANY SUCH ?ROPERTY, AS FOLLOWS: Maker hereby grants to Bank a security interest in the property, rf any, described in the space below and m all other property of Maker now or hereafter m Bank"s possession, and such security interest shall also secure all other IiabditieS of Rllaker to Bank, whether primary, secondary, d+rect or con!rngent, present `utwe. The aforesaid security interest excludes the Makers primary residence unless said primary revdence is described below. . Lot 8486, Section II, OtTt~001t RG90RZ5 OT /ll~RICA AT I~Tltr.S ISLtii~iD, als described in said >,ort~e. if the Bank requires the Maker to obtain insurance coverage against ions or damage to the collateral securing the Makers indebtedness; to the Bank, the Maker rndy ODtarO SUCir cvvcr oyc :.J .::7 ~'^r'°• nr incumr xr'entabie t0 the Bank. - It is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, aria other parry w i~r6 ao;a ;:.t: o! here+nafter fo? brevity called Obligor or O6ligars) that: Bank shall exercise reasonable care in the custody and preservation of the Collateral and shall be deemed to have exercised reasonable care if it takes such argon for that purpose as Maker shall reasonably request in writing, but noom~ssion 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- s~on, exchanges, offers, tenders or similar mattdrs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof- Bank shall not r;p 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 o+ +ts 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 cpt+un to transfer at any time to itself or to its nominee any Collateral and to receive the income thereon and hold same as security herefor, or 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 shall constitute a default hereunder, or if the Bank deems itself insecure, the enure unpaid t.a:ance 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, beceme imme- r:~ately due and payable: la? failure of any Obligor to perform any agreement hereunder or to pay in fuH, when due, any liability whatsoever to Bank or any in- staiment thereof or interest thereon; Ib? the death of any Obligor; lcl the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, t,y or against any Obligor: Idl 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; (el the entry of a judgment against any Obligor; (f) the issuing of any attachments or garnishment, or the tiling of any lien, against any property of any Obligor, igl the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority; ihl the dissolution, merger, ccnsolidation, or reorganization of any Obligor; ti) the determination by Bank that a material adverse change has occurred in the i~nanr;al condition of any Obligor !rein the conditions set forth in the most recent financial statement of such Obligor heretofore furnished to Bank, o? from !ne 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 eviderxed by this note is not true; ljl the assignment by .+ny 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 collectibility of the Collateral, including, but not limited to, the payment of taxes and premiums an policies of insurance an the due date without benefit of the grace perlOd. Unless the Collateral is perishable or threatens to decline speedily rn value or is of a type customarily sold on a recognized market, Bank wit! give Maker rea• sonable 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 t;e 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 ten clays befgre 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 for any surplus, but Bank shall have the right to apply all or any part of such surplus (or to hold the same as a reserve( against any and all other liabilities of each or any Maker to Bank. 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: la) to pledge c: transfer this note and the Collateral, whereupon Bank shall be relieved of ail duties and resraonsibilities hereunder and relieved from any and all iiabiliry with respect to any Collateral so pledged or transferred, and any pledgee or transferee shall for all purposes Brand in the place of Bank hereunder and have all the rights to Bank I~ereunder; ib? to transfer the whole or any part of the Collateral into the name of itself or its nominee; Ic1 to notify the Obligors on any Collat- eral to make payment to Bank of any amounts due or to become due thereon: ldl to demand, sue for, collect, or make any compromise or settlement it deems desirable with reference to the Collateral; and (el to take possession or control of any proceeds of Collateral. No delay or 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 taking of a renewal note without the signature of any maker or endorser liable on this note shalt not be deemed a payment or discharge of this obligation and the liability created hereunder shall continue until this note is paid in Lull. The Obligors, jointly and severalty, promise and agree to pay all costs of collection, including attorneys' tees equal to 10% of the amount itnanced, or such larger amounts as may be reasonable and just if collected by legal proceedings or through an attorney at taw, including appellate proceedirtgs- The undersi acknowledge receipt o co fed copy of this note on this date. Address 71 >iiy?J>,31 Aye., Aaisryill~, Y.Y. 11701 7[ (SEAL) • Address ~ , 1~2~(~-x-'11` r ISEALI auox 319 FbcE 74 r ,