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Home My WebLink About2914 ' ~ M ~ . Southeast Barks PROMti60RY NQTR S 20. Q~.Q..SIo ~ ~ Gate j?~b~ ry 16 , 19$x.,_ FOR VALUE RECEIVED, THE UNOERSIGNEO land if more than one, each of them jointly and severallyl, hereinafter called MAKER without regard to number or gender, promise to wy to the order of SAtSi!lCI~! First National<1 Bank ~ of -Fort Pierce, a federal banking corporation, hereinafter called BANK, TriEPitiN%irAL~tiilliOF 'L`~rtani~ T'no~ r;>t~d anti ~o~IO(5----- DOLLARS PAYABLE ive tooctthl it~stallmesats of 1w10 Ht~red -three and 20 100 Dollars trrest, on y o roan 980. Interest thereon shall accrue fft)rrl tM dab of fundicp, computed on the basis of a 365 day year, st the ANNUAL PERCENTAGE RATE OF thirteen (13) per cent INTEREST SHALL BE PAYABLE monthly, fO.~ether w{ >~h the principal ~aYlnents All payment: theft be applied.•firt to aoaued interest. and then 1b principal. Interest will accrue st the rate of 11366th of annual interest for each day than prinolpal. i• outstandirq, but in no event shall interest be dw at a cab in sxwst of the highest lawful rate. Without limitutg ttte gat.calitY of tM bregoirtg, and notwithstanding any oral or written agreement, no deposit of funds shall be required in oortltecti«l with this loan in an;anwullt tflfiidl will, whop deducted from the priltftiprtl amount outstanding hereunder, cause tM ate of Inteerest herwrtdec to exceed tM maximum lawful rate. ~ - . If any payment is not•rnade ifs fuh when due, the entire unpaid principal and alxrued interest, less any unearned interest and any interest in exlxsi of, the maximum. allowed by lave and any rebates required by law, shall at the option of the holder become immediately due and payable without notice. Failure to exercise the option shall not constitute a waiver of the subsequent right to exercise. AFTER MATURITY, INTEREST SHALL ACCRUE ON THE DELINQUENT PRINCIPAL BALANCE AT THE HIGHEST t_AWFUL RATE OF INTEREST. As security for the payment of this note, and any renewals, extensions or modifications thereof, and .any other liabilities of the MAKER to the BANK, however or wherwver created, MAKER hereby grants to the BANK a security interest in: Mortgage of even date PREPAYMENT IN WHOLE OR IN PART AT ANY TIME, WITHOUT PENALTY., IS RESERVED BY MAKER. VYhether or not spttcrfrc property is described above. as additional secunty f« tM payment of this Note. any renewals, extensions or modifications thereof, and any other liabilities of MAKER to BANK. hontever Or whtmr:er created, MAKER hereby pledges to BANK any and all property of MAKER rove or hereafter delivered to a (elf in or coming into tM possession, control « custody of BANK, whether expressly ss Collateral security or for any ocher purpose (intludirrg cash, stack and other dividends, and all rights to wbscribe for securities incident to, declared, Or grained in connection with such Nroperty), and property described in collateral retkipts or other documents agreed Or lurnistred by tM MAKER, and any and all reQlxerrrsnts of any of ttse foregoing, whether M not in tM possession of Bank. Alt such property and any other property securing maker's liabilities to tM Barrk will ftereaftei ie referred to as "tM Collateral." TM Colbtersl is also pledged trs security for all other habitities (primary, secondary, direct, contingent, sots, Joint or severaff, due tx to become due or vafticA may be hereafter contracted or acquired, of each Maker (including each Maker gird any other person) to BANK, whether such liabditws wise in the ordinary course of business Or riot, Rght is Mreby expressly granted to the BANK at its option to uansfer at any time io rtsell « to its nominee any Collateral, and to regiw tM irrcorne thereon and hold tM same as security herafor, or apply it on the principal or interest i:ue hereon or due on any liability secured Mreby, TM BANK may continue to hold any pledged property deposited Mreunder after tM payment of this note, if at the time of the payment tlnd discharge hereof any of tM partiK liable for tM payment hereof shall be then directly or contingently liable to the BANK as maker, endorser, wrety or gtrsrantor of any other note, draft, bill of exchange, or other instrument, or otherwise, and tM BANK may there- :+tter exercise the rights with respect to said pledged property granted frerein even though this note shall have been surrendered to the MAKER. It is jointly and severally covenanted and agreed with tM Bank by each MAKER, endorser, wrety, guarantor, and other party to this note (alt of wfirxn are hererrtatter for brevity called OW~ or Obl poi gorsl that: t. Additions to, releases, reductions Or exclrariges of, Or substitutions for tM Collateral, payments on xcount of this loan « increases of the same, or other loans made partially Or wholly upon tM Cotgteral, may from time to time be made without atfectirrg the provisions of this note or the liabilities of any party hereto. Bank shall exercise naeonabte tare in the custody and preservation of tM Collateral and shall bs deemed to craw exercised reasonable care if it takes such action for that purpose aK Halter shall reasonably request in wilting, but rro omission to comply with any request of Maker shall of it- self be deattrrad a failure to exercise reesorrable tare. Mfithout Ilmitirtg tM gsrrerality of tM foregoing, tM Bank sfiall have no resporrsitrility for esarainirg any maturities, cNls, conwniona, exelranges, offer, tendon a similar matters elating to any of tM Collateral nor for informing tM undersigned with re- spect to any thereof. BANK shall not be bound to take ny steps rreceswy to preserve any rights in the pledged property against prior parties, and MAKER shall take all necessary steps Itx arch purposes. BANK or its nominee need not collect interest on or principal of any pledged property or give any notice with rstpeet to it. Upon the happening of any of the following events, each of which shalt constitute a detwlt hereunder, or rt the Collateral shall st any time become unsatrslactory to BANK, or if BANK shall at any trine deem itself insecure, all liabilities of each Maker to BANK, whether or not ev,dentxd by this note, shall thereupon or thereafter, at the option of BANK, without notice « demand, become due and payaWe~ la) facture of any Obligor to perform any agreement hereunder a to pay in full, when due, arty liability whatsoever to BANK « any installment thereof or interest thereon; Ib) tM death M any Oblg«; ad the filing of arty petition under the Bankruptcy Act, or any similar federal or state statute, by or against any Oblgor, (dl arc application for the aNPOintment of a receiver for, tM making of a general assgnment tar the trtnefrt of creditors by, or the rnsolventy of any OWgor; Ie1 the entry of s iudgrnent against any Oblgor; Ifl tM iswirg of any attachments or gMnistxnent, « the filing of any Iron, against any property of any Obligor' (g) the cakrrig of possession of any wbstantisl pert of tM property of any Obligor at tM instance of any governmental authority; Ihl the drssolutron, merger, conwlidation, or reorganization of any Obligor; (i) tM determination by BANK that a nraterral advese change has occurred m the finanaal condition of any Obligor from tM conditions set forth in the most rteent lrnancul statement of wch Oblgor heretofore furnished to BANK, or from the condition of such Oblgor n heretofore most recently disNosed to BANK in any manner; or that any warranty, representation, certificate or statement of any Oblgor Iwhetfrer tomairied m thif note or not) pertaining to Or in connection with thK no[e or the loan evidenced by this note rs not true; Ij) assgnment by any r'AAKER of any equity in any of the pledged ColUteral without the written consent of BANK; Ikl failure to do all things necessary to preserve and rneintarn the value and Collectibility of the Collateral, includrrrg, but not limited to, the payment of taxes aril p+emrums on policies of rnsirrante on the due date vntltout benefit of tM grace period. THE PROVISIONS ON THE REVERSE SIDE ARE A PART OF THIS NOTE. Note Number Oue Ju tJisstir A, tWhite (SEAL) Address 6753 Rose Drive orida 023 ~'.,~~~~18_ L. White IsEALI