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Home My WebLink About1583 • t_ & O COLLATERAL NOTE-SINGLE PAYMENT W/CRLF 108,000.00 Ft. Pierce µ~a q/2 OS t - r rou s. an mor , te17 L ~ I _ u b~Z ~r Nt~~ ~ i~~'7. ~ ••<,ch of them jointly and severally!, hereinafter called Maker, prornisas to pay to the orde, of _ _ _ Sun Bank of st.Lucie County lName of Sun Bankl- - - _ Ft . Pierce ~ - - ,t its office at _ Florida, hereinafter called Bank. On_e hundred eight thousand and no/100 collar: DuE which amount includes Proceeds of S l O7 • 8 38 • OO. credit life and/w disability insurance premium (itemized L. b O Na r•,wl ui S n/a , documentar stamps tax of S 162 00 • Y plus other charges (Describe) n/d _ _ _ n a of S n/a .resulting in an AMOUNT FINANCED o(j 1 O8 , OOO.OU __-)with interest at en ANNUAL PERCENTAGE RATE of 18 which results in a FINANCE CHARGE of S - (Computed on a 6 momh n,rtunty and payable in ____.£~_~L monthi~anments, if demand obligation). TOTAL OF PAYMENTS S _ _ ' No. Period - ` • (Omit it demand •,bl~~asronl VARIABLE INTEREST RATE. Applicable ?Not Applicable. If applicable the A~NLNUAL PERCENTAGE RATE stated herein shalt from .me to nine, automatically increase or decrease so that at all times it shall be egwvalent to . ~ X over the rate of interest ray •,e~l by Bank on prime 3 .:omme.uat loans of ninety-day maturities "Prime Rate" (any change in Prime Rate to be effective at the beginning of the business <.:r on vrhich such change ..,nnouncedl. Any such change in Prime Rate wilt increase or decrease your periodic interest payments. The ANNUAL PERCENTAGE RATE here• ..rider shall never excerd 18 % per annum and shall never be Less than 14 %per annum. As security for the payment of this no e a r has pl de rted ith,Bank rid rob ra to an a u st nth f 1 + 6 ope.ty: The assignment o~ ~ off' a~~ s~oc~C in 1~ow~ar~cY ~~e>~e~ ~ac~S~cS';`Ync~ . ~a~ft~"`~fie t! Assignment of .Accounts receivable, contract rights, furniture, fixtures _ an~c equipment now owned and hereafter acquired in accordance with securit' agreements dated Agril 2, 1980 and real estate in accordance with mor~ag` _ recorded~nin th~e~ ub~/lnic recordgsn of St. Lnucien Count Flori_d_a ~_ro_m_-Robt~rt Try :ncluding al ~csih,astonc an-dot er d`ivrden s~and`alT n fs to su~hinbe-tor securities rnadent o dec are~d, or ~IE' COL}[! t~ . 9 granted in connectu,n wit • s•. property and :~~••luding any returned or unearned premiums from any insurance financed hereunder 1, which property, together with all etfOitror„ .a:vf substitutions here- .:'te, pledged Or deposited with Bank is called the Collateral. The Collateral is also pledged as security for all other habihties (prone:y, secondary, direct, nnungent, , • joint or several!, due or to become due or which may be hereafter contracted or acquired, of each Maker Gnclud:ny c,rh Maker and any relies person; to Bank. The wrrender of this note, upon payment W otherwise, shall not affect the right of Bank to retain thr• Cnl!atr:,al fox such other abilities. CREDIT LIFE ANO/OR OISABIItTY INSURANCE I$ VOLUNTARY ANO MOT REQUIRED FOR CREDIT. Such Insr:,.,r<e coverage is ava,l- !,!e at the cost designated below for term. Florida regwres that before any credit ~,tr• r•.urance may De sold, f ~.~r•• crerluor must adwse the borrower that he has the option of asvgnrng any other policy or policies the debtor owns or may p~n uw~ I•,r the purpose of verrng sarJ loan and borrower ,s so advrsed_ 1 Credrtt Life Insurance (lnwred no. 1) ~ _ _ f 1 Credrt Life and Disabdrty lnwrance pnwred no. 11 ~ s_ f 1 Jo,nt Credit Lite Insurance ~ S _ _ 1 1 Jo;nt Credit Lrfe and Disability Insurance I IOrsab,6ry on Insured no. 1 only! n/a s I/We desire the insurance coverage indicated atwve_ (Insured no. t l IDatel - (Insured no. 2) (Date) Date of Berth .Date of Birth In the event the note s pa,d before the due date, the Maker shall obtain a refund of the unused portion of the credit life an;i'ur c: sabr rty insurance rnrum computed under the "Sum of the Digits" method. It the variable interest rate above rs not applicable and if this note is payable on demand, Bank reserves, and is hereby graried the r,ghr, to adlust the ,t ,ate from time to time by furnishing Maker with wrtten nonce of such adjusted rate, provided, however, that no wch adjustr•H • s••• ,t all ._xceed the • arum legal rate allowed by law. AcfcJrtions to, reductions or exchanges of, or wbstitutions for the Collateral, payments on account of this town or rncn•a:,•.:,` r~:c same, or other iris mane part,ally or wholly upon the Collateral, may from time to time be made without affecting the provisions of this note. tf Bank deems itself insecure, or upon the happening of any of the following events, each of which shelf constitute a de~.,ulr !rcre<:•vJe•, tilt Iiab,liUes .t each Maker to Bank shall thereupon or thereafter, at the option of Bank, without notice or demand, became due and payable: i.r) t ,,t, a of any Obligor ~~•.~rclr term shall mean and include each Maker, endorser, surety and guarantor of this note) to perform any agreement hereunder, to pay interest hereon .••••n Jue or requested or demanded, or to pay any other liabr;,ty whatsoever to Bank when due; Ibl the death of any Obligor; fcl ilre- trt,nq of any petition ~drrr the Bankruptcy Act, or any srmrlar federal or state stature, by or against any obligor-, Idl sn application for the appointment of a receiver or the rkrng of a general assrgnmMt for the benebt of creditors by, or the insolvency of any Obligor; (el the entry of a judgmenr:rla , a .any pbhgor, If) the >u:ng of any writ of attachment or writ of garnishment, or the fdmg of any Iren, against any property of any Obligor; Igl the Y,+:ri•g u` possession of any d>stanual part of the property of any Obligor at the instance of any governmental authunty; IhI the dissoluUOn, merger, cixs•,!u! ••,m• <,r reorganization i! any Obligor; (i) the assignment by any Maker of any equity in any of the Collateral without the written consent of Bank_ Bank rs hereby given a Iren upon and a security interest in <,II property of each Obligor now or at any time hereafter ,n the p ,,:<,n of Bank in any ,.tacrty whatsoever, ,ndud,ng but not limited to any balance a share of any deposit, true+, or agent account, ai secunty for tr., t,.yr+~..rtr u! the note, •-;i a srmrlar hen upon and security interest m all such property of each Maker as security for the payment of till other Irabrhuel - lAaker to Bank r~~ludmg habrhUes of each Maker and any other person!; and Bank shall have the same rights as to such property as rt has wrtf• sp, t ro the Cotlatera!. It Bank deems itself insecure or upon the occurrence of any default hereunder Bank shall have the remedies of a ser:rr:d p.r r . under the Uniform ;r:mmercial Code and, without limiting the generality of the forego,ng, Bank shall have the right, immediately and without lurthr r ?~r..r b`• rt, to set otf noel this note all-money owed byBank rn any capacity to each or any Obligor, whether or not due, and also to set off against a!• or•<•, rrabrhties of each •J ,ker to Bank all money owed by Bank m any Capatrty to each or any Maker; and Bank shall be deemed to have exercised wch : •r;Rt ~ • ,.a-oft and to have :r,nie a charge against any such money rmmedrately upon the occurrence ~ot such default even though wch a charge s made or ••r~tr~rr;ri. on the books of i3:•nk subsequent therero- Unless the Cullateral rs perishable or threatens to decline sp~edr:y rn value or is of a type customarrty sr,!d ,n ,~.r•ggnrted market, j,,nk writ g,ve Maker reasonable nonce of the tlme and place of any public sale thereof or of the time after whrch any private sa:•• n, any other intended •aposition thereof is to be made. The requirement of reasonable notice shaft be met rr such notice is mailed, postage prepaid, ru t!_Ker at the address :wen below or at any other address shown on the records of the Bank, at Least five days before the time of the sale or dispos.uon Ut,un a•sposition of any C•>tlateral after the occurrence of ans• default hereunder, Maker shall be and remain liable for any deficiency; and Bank shat! err .irr~s to Maker fpr any surplus, but Bank ;hall hour the rrghr to apply alb or any part of such wrplus (or to hold the same as a reserve against) any and a!i c •n~-, :.,bihry of each or - nY Ma?e~ to bank. The Obligors, jointly and severally, promise and agree to pay all cosu and expenses of collection and rret~nat;.•~ . n• ~ tees, including j osts, expenses and reasor,aole atturneyi lees on appeal, if collected by legal proceedings or thrr~ugh an attorney at law. Maker understands and agrees that the addrtronal agreements and provisions on the rover ide hereof, hers by incorporator: t,v • •~erHnce, constitute ay.eements of the Maker and a part of this note. Maker 3cknowled9es receipt of a completed cppy o the shove date. w t reo Rad i/o/,,/ Inc . nDORESS. P- O. BOX 489 !"_?_-~1! (SEAL) t Vero Beach, FL 32960 (SEAL) This space fa Bank records only g~Xt~~ P~E~~f~r ` OFFICER NOTE NUMBER ACCOUNT NUMBER ~ f