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r INSTALLMENT PAYMENT NOTE
l S c.n.ry~r rlt
( Pm1.•Customt.
- Date February 26. , >tg _~Q
In this Hate, the words I, ME, MINE and MY mean each and all of those who sign it. The words YOU, YOUR and YOURS mean:
_ FLORIDA BANK AT FORT PIERCE
(N3m! Ot Bank)
Terms of Repayment Insurance on Collateral
To repay my loan, 1 promise to pay youS 7, 722.00 1 understand 1 will have to keep the collateral fully insured against
~ _ Seven Thousand Seven Hundred loss or damage. 1 may obtain this coverage through any person of my
T>"?enty-Two and no 1 dollars). choice. If 1 fail to provide insurance, you may obtain coverage to pro•
~ tact your security interest, passing the cost of premiums on to me, plus
I'il pay this amount at one of your otfiCeS in a total of interest at a rate not to exceed the annual percentage rate of this note.
rnc,nthly installments, consisting of 60 payments of
128 70
S _ each, and one final balloon - pa~~t~,nt of Late Charge
S _ None ,Payments will be due on the Z 'Uay of If I don't pay any installment within 10 days of the day it's due, 1
each month beginning on March 25, 1980 will have to pay a late charge of 596 of the late, or unpaid installment.
Nere is the breakdown of my loan: 000.00
. Loan Proceeds (Amount 1 receive) S`5 ~ late, Partial, or Irregular Payments
2. Florida Documentary Stamp Tax S 7 - ~S You can accept late payments or partial payments, and you will nett T
3. Credit Life Inwranee S 284 - 2`-~ lose any of your rights under this note or the law. You can also delay I
4. CredIit Disability trli r nce 5.~0¢,r enforcing any of your rights under this note without losing those
5. other ~ Intangi~~ts Tax) (PAID ;3Y S `"'emu ~ rights. Should 1 fail to meet the responsibilities 1 have under this
6.Other Recor ing eeS ) S 1 note, (understand that unless I am excused from that responsibility
7. Other A ralsal ee ~ 100.00
in writing by you, you will not lose any rights you may have against
8. Other ~ Attorney Fee ~ br A s rat me on the note.
9. Amount Financed (add 1 thru 8)
10. Acquisition Fee S 5~ R~ t to Pre I
tgh pay loan
11. Other -0- S _ 1 may prepay the loan at any time. If 1 prepay the loan in full, or if the
12. Other -0- S loan is refinar><:ed-that is, replaced by a new noteyou will refund the
13.Interest S ' unearned interest and any unearned Credit Life or Disability prem-
14.FINANCE CNARGE(add>IOthrur.~S2•924.80 ium,figuredbytheruleof78's-a commonly used formulatoriiguring
7 722.00 rebates on installment loans. However you won't make any refund of
15. Total of Payments Ladd 9 & 14) S ' less than ST; and you won't refund any part of the acquisition fee.
16. ANNUAL PERCENTAGE RATE 16.0 Defauh -
i wiii De in oeiauit:
Tut !1~lTEREST RATE CHARGED !S AUTHORIZED BY CHAP
T~ R 656.17, FLORIDA STATUTES. 1. If 1 don't pay an installment on time;
2. If 1 fail to meet any responsibilities which I agree to assume, or;
Credit Life Insurance and Disability Insurance 3. If you reasonably deem this note or the collateral to which you
rJ Credit Life/Disability Insurance IS required. for this loan (See have a security interest in to be insecure.
t
itemized finance charge). If any of the above defaults occur, you can then demand immediate
~'xCredit Life/Disability Insurance IS NOT required for this loan. payment of the balance of this note, minus refunds figured by the
NO charge is made for credit inwrance and no credit inwrance is Rule of 78's. You will also have all other legal rights provided you by
provided unless I sign and date the appropriate statement below: the terms of this note or by the law, for instance, the right to re-
possess, sell and appiy security to the payments under this note and j
a) The cost of Credit Life Insurance alone for - any other debts 1 may then owe you. ~
i, the term of the credit will be S 289.25 }
~ Collection Costs
b1 The cost of Credit Life and Disability tnwr- If I'm in default under this note and you demand full payment, 1 s
~ ante for the term of the credit will be S
~ agree to pay you interest on the unpaid balance at the annual rate of
~ 10%. If you have to sue me, or turn my account with you over to
C I desire Credit Life / your attorney in order to collect what is owed you under this note, 1
Insurance Only 2-26-80 ter.- ~ agree to pay your reasonable attorney's fees and court costs.
tDate' Jatttes~`~':"` a ar
f desire Credit Life ~ • Comakers Coborrowers
Insurance Only ~ Comakers are the same as ooborrowers and cosigners. If I'm signing
(Date) (signatu.e) this note as a comaker, l agree to be equally responsible with the bOr- !
desire Credit Life and rower, although you may we either or all of us_ You don't have to
Disability I:twrance notify me that this note hasn't been paid. You can change the terms
(Date) (Signature)
of payment and release any security without notifying or releasing
Collatera{ for the Loan me from responsibility on this note.
P.s collateral for this loan, I give you a security interest in the follow-
ing prOpe A second mortgage on propert nggrranger of Gedit
row, the SW corner of the SiI 1/~ of the IiMI 1Y It someone Diner than the Bank has arranged this credit transaction,
- ti, A iiE 1 of Section 1 ,Toms ip uth, Ran
their name, address and signature of their authorized representative
s t.a="C~ In _
_ ~astouaws: i~~p FE6 29 P~; ~ 31
feet thence run South 100 feet . thence West Arranger of Gedit:
~ 0 feet to the point of beginning St. Lucie Address: F ~ D tnC l:Eiuitui:0
i ;'-`_:Fi~v orb a. cep ing ereo ri s o x~}r
. -x2s~~~ Q~ ••~^A ~ FtOGi:R PGI'fR115 .
and any accounu or securities or other property of mine that comes Signature of agent: CLERK CIRCUIT COURT
to your possession' at any time while this loan remains unpaid, and - -
any money refunded or payable by any inwrance company that in- Copy Received'--
gyres the collateral against loss. ('Possession means-deposited with _ The borrower acknowledges receipt o/ a completely filled-in copy of
the bank in"an form, such as checkin soul ~ ` ` • ' -
y g, ngs, or collateral vauh.) ~ ~ tfiis mote.
_ , ' ~ - ?3? Copenhaven Road, Box 2001, Ft.Pi~rce, Fla .
-~:vrrovvt? signature aT $ F. Mahar AdOrtfS J~~
/ r
€ derrower Signaturt a 1'+~tll AOAresS -
V1C)Ci 8.r
a~326 rac~15~!~ ~ .