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HomeMy WebLinkAbout2003 - DISCLOSURE NOTE FOR INSTAL'LMENT~IOANS ` ~ ~ - ~Q M~ lAl Amount Received s DANK NAME IBI Premium for Crsdit ' life/Disability Ins. s f,Q, ~ ICI Documentary Stamps S ,'~ei~ OFFICE Ap RE$S . 101 Other Charges iitemizel s f EI S i NOTE NO. DATED: MaY 1 , 19 80 lFl _ s ~ T lGl Amount Firwnced - ouE~ MAy 6 ~ , tg~, IA, 8, C, D, E, FI S~ IHI Interest s Pa_ACE: ~r ,FLORIDA 111 Loan Fee S IJI Other = ~ ~T for value rtictrved, the undersigned (hereinafter called "Maker") jointly and severally (if IKI more than one) promise to pay to the order of the bank, at its office listed above, the Total S ` of Payments Ilrom INI at right) of Dollars payable in lLl IMI FINANCE CHARGE equal monthly installments of S - ~~•a ,the test IN, 1, J, K, L) S :nstallrrtent dus On June 6 , 19 80 , and wbsequent installments due on - + INl Total of Payments lG + MI S the 6 day of each month ihereafte., together with s FINAL BALLOON PAYMENT OF: ANNUAL PERCENTAGE RATE ~-M'% 3 , 5 DUE ~w , 19$ . 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 10 days in an amount equal to ~ 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. Alt payments made hereunder shall be credited first to interest and then to principal, hovwver, in the event of default, the Bank may, in its sole discretion, apply any payment to interest, principal and/or lawful charges than axrued. It is the intention of the parties hereto that the provisions herein shall not provide directly or indirectly for the payment of a greater rate of interest or the retention of 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 am 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 if 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=~5.~. - CREOIT-LIFE AND CREDIT LIFE 8 DISABILITY INSURANCE ARE VOLUNTARY ANO NOT REQUIRED FOR CREDIT. Such inwranrce oove?ape is available st the cost designated below for the term Of the credit: lal ST=~ - ' for Credit Life Inwrance Ibl S - - tor Credit Lifer Disability Inwrance: cheek ~ Credit life Insurance is desired on the life of e. ~ 8irthdate 1~~+~ ADPI. ?Credit Lifellk Disability Insurance is desired On 8irthdate Box ? Credit Life and/or Disability Inwrance is not d "red. - Date: Signature = Signature , A FTER ACOWRED tROtERTY WILL BE SUd1ECTTOTHESECURITYINTEREST AND OTHER OR FUTURE INDEBTEDNESS ISSECURED 8Y ANY SUCH ~RO~ERTY, AS FOLLOWS: 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 or hereafter in Bank's possession, and such security interest shall also secure all other liabilities of Maker to Bank, whether primary, secondary, direct or contingent, p,esent future. The aforesaid security interest excludes the Makers primary residence unless said primary residence is described below. . E3+tatk 11, Lrrrt~ 22, ~t lilliir~ Opt 11~ ~ s! st. 1mei~. q d~1~i is said tNge~,vr If the Bank requires the Maur 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 ar inwror acceptable to the Bank. It is jointly and severally covenanted and agreed with the Bank by each Maker, endorser, surety, guarantor, and other parry to this note (all 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 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 care. Without limiting the generality of the foregoing, the Bank shall have no responsibility for ascertaining any maturities, ells, conver- sion, exchanges, offers, tenders or similar mattr}rs relating to any of the Collateral, nor (or 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 cr 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 if the Bank deems itself insecure, the entire unpaid halanceof 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- d~ately due and payable: (al failure of any Obligor to perform any agreement hereunder onto pay in full, when due, any liability whatsoever to Bank or any in- stalment thereof or interest thereon; Ibl the death of any Obligor; (ci the filing of apYl~Kif~tbflder the Bankruptcy Act, or any similar federal or state statute, by or against any Obligor-, Idl an application for the appointment of a racefiver-f{I~.~Rr'~tlibkiAg Qf a'general assgnment for the benefit of creditors by, or the insolvency of any Obligor; lel the entry of a judgment against any Obligor; (f) the iswing of any attachments or garnishment, or the filing of any lien, against any property of any Obligor; (gl 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; (i) the determination by Bank that a material adverse change has occurred in the financial condition of any Obligor from 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; Ij) the assignment by any Maker of any equity in any of the Collateral without the written consent of Bank; Ikl 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 grate period. Unless the Cdlateral 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 i,e met if such notice 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 ten days 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 wrplus, but Bank shall have the right to apply all or any part of such wrplus for to hold the same as a reserve) against any and all other Nabiliues 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: 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 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 rr9hts to Bank hereunder; Ib) to transfer the whole or any part of the Collateral into the name of itself or its nominee; Icl to notify the Obligors on any Collat- eral to make payment to Bank of any amounts due or to become due thereon; id) to demand, we for, collect, or make any compromise or settlement it deems desirable with reference to the Collateral; and (el to take possession or control 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 note. No ~•+aiver 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. ~resentntent, demand, protest and notice of dishonor, are hereby waived by each and every Obligor. The taking of a renewal note without the sgnature of any 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 full. The Obligors, jointly and severally, promise and agree to pay all costs of collection, including attorneys tees equal to 1QXi of the amount Wanted, or such larger amounts as may be reasonable and just if collected by legal proceedings or through an attorney at law, including appellate proceedings. The urdersigrted atkntowtedge r ipt of a completed copy of this note on this date. Addre ~ ~~~e r~»A 1dRi~• 4S~f I (SEAL) f Address - (SEALI ~1~ P~E~.~z f F BS 752 Rev_ 7179 ~ ~at