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HomeMy WebLinkAbout0899 DISCLOSURE NOTE FOR INSTALLMENT LOANS ~ ~ ~ IAI Amount Iieceive0 s SANK NAME 181 Premium (or Credit Life/Disabiluy Ins. S. ' j~ ICI D«um.ntary Stamps S 7 OiFICE ADDRESS IDI Other Charges Irtemrzel S Q LEI S r;OTE NO. DATED: . 19-.fz-~ IFI S IGI Amount Financed ouE ~n to l~CL1 u , fg~C? iA, B. C. D. E, Fj S_ IHI Interest S FACE: ~ ~r ,FLORIDA 111 Loan Fee S "`ie~ ' IJI Other S for value received, the undersigned Iherernalter called "Maker") jointly and severally lit IKI S more than one) promise to pay to the order of he ank, at its office fisted above, the Total of Vaymems (hom (NI at rrghU o1 Dollars payable m ~ ILL S ,the first IMI FINANCE CHARGE r~;ual monthly installments of S _ IH, 1, J, K, L) S ~nstallrnent due On ~ V'tut_Yu ~ , 19~, and wbstquent rstatlments due on INI Total of Payments Ili + MI S one dsy of each month thereafter, together with a FINAL BALLOON PAYMENT OF. ANNUAL PERCENTAGE RATE ~ % 5 _ ~ DUE . 19 The Bank sftatl impose a delinquency charge against the Maker on any payment which has become due and remains in default for a period in excess of 1O rays .n an amount equal to ~i of the payment in default. In the event that the Note is not paid in full at matwrty, all payments, whether principal, interest or .,therwise, 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 p•~napal, however, in the event of default, the Bank may, in its sok discretion, apply any payment to interest, principal andlor lawful charges then accrued. it .s the intention of the parties hereto that the provisions herein shall not prowde directly or indirectly for the payment of a greater rate of interest or the ~eten[ion of any other charge than is allowed by law. It, for any reason, interest in excess of such legal rate or a charge prohibited by law shall at any time be p.~~d, any wch 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~~e 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 *ne 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 S15.OO. ' CREDIT LIFE AND CREDIT LIFE b DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. SuM inwrance coverage is available at the cost designated below for the term of the uedit: lal S .aw for Credit life Inwrance Ibl S ror Credit Lite ~ pissbiHty Inwrance: Check ? Credit life Insurance n desired on the life of Birthdate - Appl. ? Credit Life 8 Disability Inwrance is desired on Birthdate Elo x ®Crtdit Life and/or Disability Insurance is not desired. . Date: Signature ~ Signature A f TE R ACOUIREOPgOPERTYMIIII iE SUtJECT TO THESECURITYINTEREST AND OTHER OR FUTURE INOElTEDNESS ISSECUREO BY ANY SUCH PRO?ERTY, AS fOLIOWS: ".faker hereby grants to Bank a stcurrty interest in the propert)~, if any, described rn the space below and in all other property of Maker now or hereafter rn 9,•~K's possession, and such security interest shall also secure all other IiabJities of Maker to Bank, whether primary, secondary, direct or contingent, present suture. The aforesaid security interest excludes the fiAakers primary residence unless said prrrrWry resilience is described below. ftts~ ~d lWa~ ~....1. rtta~ ,tat! >V!!1~ ?aRW_ ~~~5~ 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 n,ay obtain such coverage from any agent, broker or inwror acceptable to the Bank. It is jointly and severally covenanted and agreed mth the Bank by each Maker, endorser, surety, guarantor, and other parry to this note (all of whom are ne-emafter for brevity called Obligor or Obligors) that: Sank shall exercise reasonable care rn the custody and preservation of the Collateral and shall be deemed to have exercised reasonable care if it takes such acron for that purpose as Maker shall reasonably request in writing, but no omssion to comply with any request of Maker shall of itself be deemed a failure to 'F exercise reasonable care. Without limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaining any maturities, calls, convey- ! soon, exchanges, offers, tenders or similar mattlrs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof. Bank shall not j e;e bound to take any steps necessary to preserve any rights in the Collateral against prior parties, and Maker shall take all necessary steps for wch purposes. Bank f or .n 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 ~:p!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 p•~nupal Or interest due hereon or due on any habiGty secured hereby. lJpon the happening of any of the following events, each of vvhrch shall constitute a default hereunder, or i( the Bank deems itself insecure, the entire unpaid ! .::;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, become imme- 1 ,!~ately due and payable: (al failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank or any in- j s•,i!r,znt thereof Or interest thereon: Ibl the death of any Obligor; Icl the fibng of any petition under the Bankruptcy Act, or any similar federal or state statute, i;y or against any ObligoJ: (dl art application for the appointment of a receiver for, the making of a general assgnment for the benefit of creditors by, or the ~nsolvertcy of any Obligor; le) the entry of a judgment against any Obligor; If) the issuing of any attachments or garnishment, or the filing of any lien, against any property Ot any Obligor, 191 the taking of possession of any substantial part of the property of any Obligor at the instance of any governmemal authority; n i the dissolution, merger, consolidation, or reorganization of any Obligor; GI the determination by Bank that a material adverse change has occurred in the e +,nanual condition of any Obligor from the conditions set forth in the most recent financial statement of wch Oblgo. heretofore furnished to Bank, or from one condition of such Obligor as heretofore most recently disclosed to Bank in any manner; or that any warranty, rep?esentation, certificate, or statement of any Oni;gor (whether contairxd in this note or not) pertaining to or in connection mth this note or the loan evidenced by th+s note is not true: Ijl the assignment by ;ny Maker of any equity in any of the Collateral without the written consent of Bank; Ik1 (allure to do all things necessary to preserve and maintain the value ^.d collectibiGty of the Collateral, including, but not limned to, the payment of taxes and premiums on policies of insurance on the due date without benefit of ~ :..^.e grace period. Unless the Collateral is perishable or threatens to decline speedily m value or is of ~ type customarily sold on a recognized market, Bank will give Maker rea- s :sable riouce of the dine and place of any public sale thereof or of the time alter which a private sale will be held.'1'he regturement of reasonable notice shall met it such notice is marled, pos[age prepaid, to any Maker at the address given below or at any other address shown on the records of the Bank, at least ten ;ys 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 r:e~iuersey; and Bank shall account to Maker (or any wrplus, but Bank shall have the right to apply all or any part of such wrplus for to hold the same as a -eserve) against any arid all other liabilities of each or any Maker to Bank. 'i Bank shall have, but shall not be hmrtitd to, the following rights, each of which may be exerased at any time whether or not this note is due: lal to pledge ' ~ 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 ~?spect 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 --;nts 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 Obligors on any Collat- e•ai ro make payment to Bank of any amounts due or to become due thereon; Idl to demand, sue for, collect, or make any compromise or settlement ii deems ~tes~rable with reterersce 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 right hereunder shall operate as a waiver of such right or of any other right under this note. No .vawer or alteration shall be binding on Bank unless m a writing sigr?ed by an authorized Bank officer, and then only to the extent specifically set forth therein. P•esentment, 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 vested hereunder shall continue until this ^n~e ~s paid in full. The Obligors, jointly and severally, promise and agree to pay all costs of collection„ including attorneys' teas equal to 1Or11i of the amount ' 3nced, or such larger amounts as may be reasonable and lust if collected by legal proceedings or through an attorney at law, including appellate proceedings. The undersgn ack . edge receipt of a completed copy of thif.not~ n.this date. y ' ~ . ~ ~ir ~ ~ s ~ 1.- ~ J (SEALI ~.-idress • 1~ ~ g _ r .,,t.~ress • ~i~ ~y-r-1$EAL) 's ~I,~K323 P~~E 899 t ~ BS 752 Rer. 7 / 79 9 "f5 7'