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HomeMy WebLinkAbout0039 DISCLOSURE NOTE FOR INSTALLMENT LOANS S~ ~t _ _ IAI Amount Received S Si~O`~ BANK NAME 181 Premium for Credit Life/Disability Ins. S ~1a~i,~ p.0. ifs 7 J~~ ~Cti~ pi_~S7 IC? Oocumema?y Stamps S iQ~m-, OFFICE ADDRESS 101 Other Charges litemuel S ~d IEI S NUTS NO. DATED: l~Kh ~ . t9~-• IFI S -d- IGI Amoum Financed DUE. ~ ~i , 19,~. IA, B. C. D. E. FI S Le'~~elDi IHI Interest S ~ ~,,i~i~a? PLACE: JAM ,FLORIDA 111 Loan Fee S T_ IJI Other S For value recervrd, the undersigned (hereinaher called "Maker") jointly and severally lit IKI S ..Oa..~, more than oriel Diomise to pay to the order of the Bank, at its office listed shove, the Total of Payments (from INI at right) ol.~i~s/~-u Dollars payable in 1L1 S equal month) instauments of S IM) FINANCE CHARGE y ,the lust installment due on wD~i 11 , 19.~, and subsequent installments due on INl Total of Payments lG + M) S ue~~~a the~._day of each month thereafter, together with a FINAL BALLOON PAYMENT OF. ANNUAL PERCENTAGE RATE - % 5 ~a DUE ¢ . tg The Bank shall impose a delinquency charge against the Maker on any payment which has become due and remains in default for a period in excess of 1~ ;lays in an amount equal to J~i 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 artd then to nr~ncipal, however, in the event of default, the Bank may, in its sole discretion, apply any payment to interest, principal and!or lawful charges then accrued- It is the iptention of ilia parties hereto that the provisions herein shall not provide directly or indirectly for the payment of a greater rate of interest or the retention bf any other charge than is allowed by law. If, for any reason, interest in excess of such legal rate or a charge prohibited by law shall at any time be l~.ird, 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 tlw en- t~re unpaid balance of the loan at arty time. If tfie 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 Rule of 78's method, except that the Bank shall be entitled to retain a minimum interest charge of s1~.U0. CREDIT LIFE ANO CREDIT LIFE & DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwr8nce rnverage is available at the cost designated below fo? the term of the credit: lal S ~Z-=i for Credit Life fnsurance Ibl S , for Credit Life dt Disability Insurance: CheckCredit Lite lnsurance is desired on the life of ~l>~ r- wig Birthdate ~L.,At/ Appl, r?--77 Credit life & Disability Insurance is desired on 8uthdate Box l.; Credit Life and/Or Disability Insurance is not dasired. ~ ~ Date: 7. 19x0 Signature Y ~ rgnature AFTER ACQUIRED PROPERTY tMll BE SUf1lECT t0 THESECURITY INTEREST ANO OTHER OR f UTURE INOEBTEONESS IS SECURED BY ANY SUCH PROPERTY, AS FOLLOWS: hfaker hereby grants to Bank a security interest in the property, rf any, described in the space below and in alt other property of Maker now or hereafter in - Bank's possession, and such security interest shall also secure all other liabilities of Maker to~ank, whether primary, secondary, direct or contingent, present o• !uture. The aforesaid secwity interest excludes the Makers primary residence unless said primary residence is described below. ~~>t ~t sa s~ 7~~ a os~~ i» spa >~yps. 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 aed severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other party to this note fall 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 ~i action for that purpose as Maker shall reasonably request in writing, but no om~svon 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- sion, exchanges, offers, tenders or similar mattrjrs relating to any of the Collateral, nor for informing the undersigned with respect to any thereof. Bank shall not ~ be bound to take any steps necessary M preserve any rights in the Collateral against prior parties, and Maker shall take all necessary steps for such purposes. Bank ~ or 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 eption to transfer at any time to itself or to its nominee any Collateral and to receive the incort?e 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 balance 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- diately due and payable: lal failure of any Obligor to perform any agreement hereunder or to pay in full, when due, any liability whatsoever to Bank o: any in- stalment thereof or interest thereon; Ib1 the death of any Obligor; Icl the filing of any petition under the Bankruptcy Act, w any similar federal or state statute, o: eg3irtst any Obligor; ids an application iur the appointment of a receiver for, the making of a general assignment for the benefit of creditors by, or the ~nzolvency of any Obligor; lel 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 of any Obligor; (g1 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, consoGdatiar., or reorganization of any Obligor, Ii1 the determination by Bank that a material adverse change has occurred in the hnanciaf condition o4 any iPubigOr IrQgt the cor±ditioM set forth in the rrcr 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 Obligor (whether contained in this note or not) pertaining to or in connection rvrth this note or the loan evidenced by this note is not true; Ij1 the assgnment by any Maker of any equity in any of the Collateral without the written consent of Bank; lkl failure to do all things necessary to preserve and maintain the value :,rid collectibility of the Ccllateral, 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. Unless the Collateral is perishable or threatens to decline speedily in value or is 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 aster which a private sale will 6!; held. The requirement of reasonable notice shall t,e met if such notice is mailed, postage prepaid, to any Maker at the address a+ven below or at any other address shown on the records of the Bank, at feast ten clays 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 shall have the right to apply all or any part of such surplus (or to hold the same as a reserve) against any artd all other liabilities of each or any Maker to Bank. °ank shall have, but shall nut ire limited to, the following rignts, each of which may be exercised at any time whether or not this note is due: la1 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 .aspect 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: Ib1 to transfer the whole or any part of the Collateral into the name of itseH or its nominee: Icl to notify the Obligors on any Collat- ( era) to make payment to Bank of any amounts due or to become due thereon; Idl to demand, sue tor, collect, or make any compromise or settlement it deems desirable with reference to the Collateral; and lel to take possession or convol 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 npte- No ~riaiver 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 raking of a renewal note without the segnature of any maker or endorser liable on this note shalt not be deemed a payment or discharge of this obligation and the habdity created hereunder shall continue until this { r.ore is paid in full. The Obligors, jointly and severally, promise and agree to-pay all Costs of collection, including attorneys fees equal to l~i of the smount ~ ~~nanced, or such larger amounts as may be reasonable and just it collected by;legal proceedings or through an attorney at law, including appellate proceedings. S The urxfersigrrd acknowledge receipt of a completed copy of this note on this date. Address~5 ~ ~i~~e~• St. gl. ~ 'lit./ (SEALI ~M • ISEAL) Address ~ , ° i 1l~nd>. Maltt~s ~~ox327 ~~~f 39 'r HS 7i? Her J 1°~ ,