HomeMy WebLinkAbout0264 DISCLOSURE NOTE FOR INSTALLMENT LOANS ~
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BANK NAME IBl Premium for Credit
Life/Disabilrty Ins, S
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OFFICE ADDRESS IDI Other Charges Ittemi:el
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NOTE NO. OATEO: u , 19?~ . (p s
lGl Amount Financed l~f~~•~ -
OuE: K , lg ~ , IA, B, C, O, E, FI t
IHI Interest j f •
PLACE: ,FLORIDA 111 Loan Fee s ,
' IJ? Other =
For value received, the undersigned (hereinafter called "Maker") jointly and severally (if (K) s
more than one) promise to~pay to the order of the~
ank, at its office listed above, the Total
~~t Payments (from (N) at right) of al f~2•~iY Dollars payable in 1~ (L) S "0"
e;tual monthly installments of S ,the first IMI FINANCE CHARGE 1~~9~•2S .
(li, 1, J, K, L) Y .
~nstallmem due oA_ , 19_, and wbsequent ins~llmenK due en INI Total of Payments IG + M) S e •
the ~ay of est~t month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE • ')6
5 "O'~.. ~ OUE , 19
The Bank shall irr>plOSe a delinquency charge against the Maker on any payment which has become due and remains in default for a period in excess of 1U
cfavs in an amount equal to ~ of the payment in default. In the 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 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 rr?ay, in its sole discretion, apply any payment to interest, principal and/or lawful charges then accrued.
tt ~s the intention of the parties hereto that the provisions herein shall not provide directly or indirectly for the payment of a 9reate? 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
pant, 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-
t~re unpaid balance of the loan 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 interest and insurance premiums computed by the Rute 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 de DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwr ce coverage is
available at the cost designated below for the term of the audit: lal S ~o- for Credit Life Insurance (bl S
for Credit Life J4 Disability Insurance:
Check ~ Credit life Insurance is desired on the life of Birthdate
App1. r?tt Credit Life at Disability Insurance is desired on Birthdate
Box lirl Credit Life and/or Disability Insurance is not desired. _
Date: Signature" ~ ~ ~ Signature
A FTER ACOUIREO PROPERTY YVltl BESU6JECT TOTHESECURITV INTEREST AMO OTHER OR FUTURE INDEBTEDNESS ISSECUREO BY ANYSUCH PROPERTY, AS FOLLOiyS=
h"aker 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 all other liabilities of Maker to Bank, whether pnmary, secondary, direct or contingent, present
'uture. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below.
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1 >j~t~~Oe = W=DOOI ~ G~ ~tIC~ it wtLIM Ll~ni
its a.s>t..~l.'tr~~ .
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 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 party to this note tall of whom are
hereinafter for brevity called Obligor or Obligors) 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
action for 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 Wre. Without limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaining any maturities, calls, convey-
s~on, exchanges, offers, tenders or similar mattArs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof- Bank shall not
he 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
pr 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
rp;ion 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 entire unpaid
t~alanceof 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-
ct~atety due and payable: la) failura•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; (cl the filing of any petition under the Bankruptcy Act, or any similar federal or state statute,
by 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
,nsolvency of any Obligor; le) the entry of a judgment against any Obligor; Ill the issuing of any attachments or garnishment, or the filing of any lien, against
any property of arty Obligor; lgl the taking of possession of any substantial part of the property of any Obligor at the instance of any governmental authority;
(h; the dissolution, merger; consolidation, or reorganization of any Obligor; lit the determination by Bank that a material adverse change has occurred in the
f~narcial condition of arty Obligor from the conditions set forth in the most recent financial statement of such 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
I 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; Ill the assignment by
,ny Maker of any .equity in any of the Collateral without the written consent of Bank; (k) failure to do all things necessary to preserve and maintain the value
and cotlectibility 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.
f Unless the Collateral is perishable or threatens to decline speedily in value or rs of a type customarily 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 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
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 for any surplus, but Bank shaft have the right to apply all or any part of wch wrplus (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: 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 all purposes stand in the place of Bank hereunder and have all 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 Collat-
eral to make payment to Bank of any amounts due or to become due thereon; (dl 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 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
v.aiver 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 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 as may be reasonable and just if collected by Legal proceedings or through an attorney at law, including appellate proceedings.
•~t The undersigned acknowledge receipt of a completed copy of this note on this date.
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