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HomeMy WebLinkAbout2208 _ - _ _ • DISCLOSURE NOTE FOR INSTALLMENT LOANS r rr....• *T~r,i.,.,al lRanlt of Fnrt P~t?rCe IAI Amount Received s 12 • 000.00 L 1 L 1~L . r 6ANK NAME IBI Premium for Credit _ ~ Life/OisabifitV In=- S none Box 970 Fort Pierce Fla. 33450 Ice D«umentarystamp: s 18.15 P ) . • OFFICE ADDRESS IDI Other Charges litemirel S none - LEI i nnRF' Il IvoTE No. DATED: March 18 , , ts80 IF? s none IGI Amount Financed DUE: March 1R. , ,9 82 . IA, B. c, D, E, FI s 12.018.15 - IHI Interest S 2,O1S.53 PLACE: Ft. 1~BI'Ce ,FLORIDA III Loan Fee S 20- 00 IJI Othtr s none For value received, the undersigned (hereinafter called "Maker") jointly and severally lif IKI S more than one) promise to pay to the order of the Bsnk, at its office listed above, the Total i3Glne $14 053 68 24 Iu s none of Payments (from (NI at right) of • Dollars payable in equal monthly installments of S 585 57 ,the first lMl FINANCE CHARGE 2 , 035.53 Q/~ IH, 1, J, K, LI S installrr?ent due On April 18 a , 19StSC_, and subsequent installments due on INI Total of Payments IG • M) S l4 •053 • 68 the_1,8.day of each month thereafter, together with a FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE 15.50 % s none DUE none . t9 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 1O clays in an amount equal to 5% of the payment in default. In the event that the Note is not paid in lull 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 may, in its sole discretion, apply any payment to interest, principal and/or lawful charges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide direttty or indirectly for the payment of a greater rate of interest or the retention of any other charge than is allowed by law. It, for any reason, interest in excess of wch legal rate or a charge prohibited by law shall at any time be paid, 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- tire 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 Rule of 78's method, except that the Bank shall be entitled to retain a minimum interest charge of =15.00. CREDIT LIFE AND CREDIT LIFE dr DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. SuM inwrance coverage is available at the coat designated below for the term of the Credit: Ise S for Credit life Inwrance Ibl S for Credit Litt 8 Disability Insurance: Check ~ ? Gedit lib Insurance is desired on the life of Birthdate Appl, _ ? Gedit Lite di Disability Insurance is desired on Birthdate Box }~,radit life and/or Disability IASUrance is t-desired. 1980 g Date: March 18 , Si nature fit- ~ ~'v Signature AfTERACOUIREDfRO~ERTYWILIBESUdIECTTOTHESE TYINTER AND OTHER OR FUTUREINDEdTEONESSISSECUREDIYANYSUCN~ROPERTY,ASFOLIOWS: Maker 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 o. hereafter in Bank's possession, and such security interest shalt also secure all other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, present or future. The afortssid security interest excludes the Makers primary residents unless said primary residence is described below. t~ Second Mortgage Lots 60 and 61, Block 26 of Indian River Estates, Unit Five, according to the Plat thereof as recorded in Plat Book 10 at Page 58 of the Public Records of St. Lucie County, Florida 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 (all of whom are hereinafter for brevity Wiled Obligor or Obligors) that: Bank shall exercise reasonable Wre 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, conver- sion, exchanges, otters, tenders or similar mattJrs 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 to preserve any rights in the Collateral against prior parties, and Maker shall take all necessary steps for such purposes. Bank j 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 option 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 it the Bank deems itself insecure, the entire unpaid balance of this note and all other liabilities of each Make? to Bank shall thereupon or thereafter, at the option of Bank, without nod=e or demand, become imme- E 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 or any in- stalment thereof or interest thereon; Ibl the death of any Obligor; Ice the filing of any petition under the Bankruptcy Act, or any similar federal or state statute, by or against any Obligor; (dl an application for the appointment of a receiver tor, the making of a general assignment for the benefit of creditors by, or the insolvency of any Obligor; •(e) the entry of a judgment against any Oblgor; If) the issuirg of any attachments or garnishment, or the filing of any lien, against any property of any Obligor; Igl 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; lie the determination by Bank that a material adverse change has occurred in the financial condition of any Obligor Irom 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 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; Ijl the assignment by any 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 colleCtibility 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. 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 after which a private sale will be held. The requirement of reasonable notice shall be met if such novice 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 ter. days before flu time of the sate. Upon disposition of any Collateral after the «currence of any default hereunder, Obligors shall be and remain liable for any deficiency: and Bank shall account to Maker .for any wrplus, but Bank shall have the right to apply all or any part of such 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: la) to pledge r or transfer this note and the Collateral, whereupon Bank shall tx 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; Ibl to transfer the whole or any part of the Collateral into the name of itself or its nominee; Ice to notify the Oblgors on any Collat- eral to 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 it deems desirable with reference to the Collateral; and eel to take possession or control of any pr«eeds of Collateral. No delay or omiuion on the part of Bank in exercising any right hereunde? shall operate as a waiver of such right or of any other right under this note. No . waiver or alteration shall be binding on Bank unless in a writing sgned by an authorized Bank ottitxr, and then only to the extent specifically set forth therein. 3 Presentment, densand, protest and notice of dishonor, are hereby waived by each and every Obtigor_ The taking of a renewal note without the signature of env 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 Lull. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys' fees equal to lO% of the amount financed, or such larger amounts as may be reasonable and just if collected by legal pr«eedings or through an attorney at law, including appellate proteerlirrgs- The undersigned acknowledge receipt of a c feted copy of this note on this date. Address 5009 Silver Oak Dr. , Ft. Pierce, Fla . ~ IsEAu 33450 D~IIe. W . J nson ) ~ Address c V c^-~'-' ISEALI t Sylvia N. Johnson nK ~(~lK~~ P4GE~~ FHS 7S: a•v ~ ~ In