HomeMy WebLinkAbout2779 STALLMENT PROP~IISSORY r1oTE
JENSEN BEACH BANK tAl AmounlHacelved s_ 484.39
BANK NAME Iel Premium for Credit none
Jensen Beach, Florida 33457 ~+t•lolubillty Int. s
lCl Oocuntenury t{tstnps s none
OFFICE AOORE55 101 OthN Chsryat (ltemlte! = none
none
rvoTE No. - oATt:o: February 20, ,19 80. ~F~ = none
March 1, 84 col ~ ~ ~o °~t~ s 4845.39
DUf~ . 19~.
tK? (nterat = 1049.01
PACE- , f LOR10A 111 Credit (nvesttgatlon =
Ul Other !
Fo? value rtcervsd, tAe undersigned (hereinafter Called "Maker") jointly and severally (if tKl S
more than onel promise to pay to the order of the Bank. at its pities listed sbow, the Total
of Payments (from INI at right) of 55894.40 Doltara payable in 48 tLl !
e4ua1 rnonthlY Installrrlents of S 122.80 , the lint tMl FINANCE cNApbE • 1049.01
IN, 1. J, K. Ll !
[nstanment dw on Aari 1 1, • _ ,19 acid subsequent Installments dw oh tN1 total o11/symMb + MI ! X894.40
tne~$fdeY of r~A IIsonth thereafter_tosethN vrith • FINAL BALLOON PAYMENT OF: ANNUAL p~~Cl<N~AOE 1r1Aj~ 10 • ~0 %
s RlC our - iii
The Bank shall impose s dellnqueney charge against the Mrke oM any psynlenl wllkh ha becontlt tIW ahd ttlntrlta In fialrltlt lot s tsflrtod In at?ress at 18
days in an amount goal to 5X of the amount of the principal part of the paynnrlt In delautt. In the serene that the Nob Is not grid In Intl at ftlaturlty, all psy-
menu, whether pritsctpal, interest or athervrise, shalt best {ntNest et the tnattitnllm 1ege1 rate elfos+red uftdM the IesM 01 the state eel Flaklr. All payntartts made
hereunder abaci tee credited tint to intNnt and then to principal, however, in the event of default, the Hank rttey, M Its eda disetetlon, apply tiny payrwer+t w
interest, principal and/or lawful charges then accrued. It is tM intention o1 thM parties hNeto Mat the provtsloM t?ereln shill tent provide dkaetly a indkeetly
for the paymMt of a greeter rate of Interest or the retMtipts of any oMar thNge ttlan lit allonwd try law. 11, lot any HMUII, Intflresl M •ittril! N such tNd net a
a charge prohibited b1l law shalt at any turn be paid, any suds eitCeas sltsll NthN t:onstltUq tend tie tteebti cis ! prytttetlt tilt Nn ptitlelpM Or tie ?tllundsi tlNeetty
to the frtaker, _
the Ma4e? fl1l~r WWM the ftntlri Ohprld brlrtterf eel the lord •1 Htty Ilene. II lNi ~brM N prlisaid Ill full. tletrlNrNtl a Hllttrntid. tl+~ tllllltfar atilt rotNw a
refund of the unearned pts?tion of the interest and inwrana p?a+rsiunss tomputtd bll the pule of 7A's n»thtd. •=t:tapt thrt the Bank shall be erttltlad to rttairi
a minimum intNaat charge of $S.f~.
CREDIT LIFE AND CREbIt LIFE A DISABILItY INSUttAH1CE ApE VOLUNtA1tY ANO NOT gE~UIpEt! POM CpElSIt. Quilt Ihsutawu tewrags H
a~aiiable at the eostdntgnatad beloMr iw the te?tn of the credit: Ial ! for Credit Uf! Irlsurattee Ibl S
for Gedrt life !!t Disability Inwranct:
Check ? Credit Life Insurance is desired on the hte of
pppl Blrthdln '
i3o¦ ? Credit Life H Dlsablliry Inwrance is desired on
~~pp Birlhdst!
tJ Credit Life audios Oissbi{iry Insurance is not da1?ed. ,
Batt. February 20, 1980 SlgnatUrs
No an sett
5l~naturr ' '
e in Turtle Reef
As SKUrity for the payment of the Note the Maker hereby grants to the Bank a security interest ~ the col truing propNry:
('rand}. i , Rp _orded on 0 R _ Book 256. _Qage 235... Unit Weeks 25 and 26 i n _ Cond . ,
_ C-5 a Ant_~_C-5 ~.as described in said mortgage .
,n~luding all increases, wbstitutionf, rePlxements, additiorla and accessions thereto and in the proceeds thereol (hereinattN pllstd "Collateral"1. Thissawriry
interest shall also secure any othN indebtedness Or liability of the f+AakN t0 the Bank drrett O? indrrtct, absolute or contingent, due w to betorrse dare, now etc•
j sung or InrsattN arising, ~nduding all future sdveneM w loans tsy the Bank to ten Mske.
The Bank is slap yivM a lien and a Security interest in all propetry and securities of the Make., endorse, wretY, guarantor w xcOrrsnsOdation party of this
bore Ihereinafte nfer?ed to as the "Obtigws'1, now in or at any tirtn herNftN tortlirtg into the contrd, wstodY or possesswis of the Bank, wtsetMr fa the
pressed purpose of being used by the Bank as Co1latNS1, or fa any other purpose, and upon any balance or balances to the aedlt of any sxosrnri, indridirg
trust and agency accounts maintained yviththe Bsnk by arty of iM Obligors, and the Obligors ssrN to deliver to the Bank additional CollsterM or make sixth
p~~~ntnts in reduction of the principal amount of tM loan as shall be satisfactory to the Bank, in the went the afort!rnewtior?ed Coltstesl stsetf dtsdirse in vesut
1 or becortn unsatisfactory to the Bank.
Additions to, reductions or exchanges ot, or wbstitutions for the Collateral, payments on account of this loan w inpea+ss of the same, or oMe loans made
~ par Many or wholly upon the Collateral, may from time to tune rte made without affecting the prorrs~ons of this Note. The Bank shall e><eruse reasonable tan in
i r'-e custody and preservation of the Collateral to the extent required by applicable statute, and steals Dt dsrtmed to haw exNCised res,onabte pn it it take suer
a~[~on for that purpose as MakN shall reasonably request in writing, but no omission to do any xt not requested try MakN shNl be deemed a tailors to a¦NCise
+=3sonabte care, and no omission to comply arith any request of Make shall of its!tt bt deemed a failure to exercise reasonable pre. Bank shill not tY_ bound to
to=e any steps necessary to preserve any righp in the Collateral against prior parses and Maker shall take all necessary stags for such purposts. The Benk o! its
~~~nee need not collect interest on, or a principal of, any Collateral or give any notice with respect to it.
The Ban'r may continue to hold any Collateral deposited hereunder after the payment of this No;'e, it at the time of the payment and discharge hereof env of
[n9 parties lrablz for the payment hereof shaft bE then directly or contingently liab'e to the Bank of l~!aker, endorser, surety, guarantor or s~commodatron pa•ty
c.r any o:hrr note, draft, bill of exchange, or other instrument, or otherwise, and the Bank r'naY thereafter exercise ail rights with respect to said Collateral
,anted h_rt•n evtn though this Not3 shall Nava been surrendered to the Maker.
It tut cant deems itself insecure or upon the happening of city of .the following scents, each of which :lull constitute a delsult, eli liabilities of each Msksr to
• Elenk, ,ndsd~ro the entire unpaid onnc:asl o! this 'lots and accrued interest. feel any unearned interest and any Inlaett In eircess o? th. ma><.mum ±Rnarrd
t ~ 1,., acrd any .eba!es required Oy law, shall im:nadrately or tiereaRer, st the apGOn of the t)a~r, except that the occurrence of k1 or till shad cause automat-
s r:..,t~. ~tion; wrtAO,;t notice or damind, bteomadut and payable: la1 the failure or any 071igor to perform any obtigat~on, liabdrty or c1a~m to the Bank, to pay
~ ~ '~•ett h?.?on within lt?days after it is dog, or it there is n0 d~a data, slur it is b>ll-d o• othtrwse reautst!d or demandetf, Or t0 pay any o:htr hab~lity whaF
s ~ to tht';.?nk rAi?n due; Ibl the death of any individual Obh9or, the dnsoluhon of any p.frtntrship Obligor a the d solution, mer,ar or consolydauon vvi•A-
c ~r t^~ 6enk's prior svntten consent of any corporate Obligor; (d the filing Ot a pe:mon in bankrt,ptcy or Ili! adjed~cation of insotrenry or barsk?uptty under
- r reor:,anrratron, arrangement, rtadlustment of d3bt, d+ssoiu:ion, liquidation or s~mdar proce+.dirg and±r any Federal or state statute, by or acarnst any
-fur, ldl an applrcauon for the appninf-nent of a receiver iw, o? the snaking of a g?rascal assi5nn•cnt (or the bertetit of creditors by, any Obligor; (a? the entry
t ,,,cl,m:rat zgainst any Obligor: If) the rtsumg of any attachment or garnishment, w the (ding of arty Gen, against any property of any Ooliyar; Igl the taking of
c ~ atr7n os any substanGat part o! the property of any Obligor st the instance of any gowrnmsntal suthonry: Ih? the determination by tAe Sank that a rttats+i-
a! J ..er:r thar.,~ hat occurred in the Irnancial condition of any Obligor from the cordinons set /orth in the most recent firancrat statement of wch ODSiyw
r •-er~rore f:.rnished to the Bank, or from the condition of such Obligor as heretotort roost rec!rtly d~sdosed to the Sank, or that any ws.rsnry, repreaeritation,
c•e;t,rste or statement of any Uttligor (whathar eontarned in this Nnte w not) Gtrtirning to or rn connection with tAis Note or the Iwo erideneed by Mis Note
. -.n r.,,n? an anrrue starem+nt of material fact ar emits to state material fact necessary in orde• to rv+ce the staternsnis made not misleadrnp: or, (i? the assign-
rr,..~t by any t,!sksr of a'iy equity in any of the Cohptarat without the prior vrrrtten constnt of the Bank.
7~! Brno shall titre, but shall not be hm~tad to, tF.e followrrig rights, each of wrhrth may to e+itacsed at any Lima whsthrr a not this Note is due. lit to
c -^.qt+ a aanslsr thin Note and the Collateral and the Bsnk shell thereupert bs relisyed of all dutin and r~fponsibltitfN harxtinda and rNieved (sorts any and aH
t j~ ~~ty with respect to any Collateral so pliidged or pamferred, and any plerlgN w tranderee shell fors!! purposq eland in the p!ad of the Sank hNeundM arse
r a all the .i;htf of th! Bank hereunder; till to transfer the whole or any pxt of the Coilatenl into theylame of itself or its nominee: (iii) to vote the Collateral:
!,,t [o not.ty Ihs+ Obligors of any Collateral to make itaymem to the Bank of any ampoule dw or to become due thereon; Iv1 to demand, w! for, copitct, w
r-a: r :,ray comgron•rfe o• settlement .t dMms detirsbls with rtfer~ite to the Coltytaral; '?pd Ivi? to idjte possastiop,or coglfol of arsy,pr of COII>)/est.
~L(N(
a NOTICE: SEE OTHEfR SIDE FOR tMK/RTArfT 1NFRRSrnTrnN ~
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