The URL can be used to link to this page

Home My WebLink About2311 .\W,, ~ Southeast banks ~ ~ ~'~Illt\`` 1 PROMISSORY NOTE S 45, 000.00 - - - - - - _ : - Date ~y = 2~ , 19 80 • FOR VALUE RECEIVED, THE UNDERSIGNED land if more than one, each of them jointly and severally), hereinafter called --.MAKER without regard-to numbernr gender,-promise to pay-to the .order of _ - - - • _ . 91~X11iiE7RZ FIRST- NAT- IONA_I: BANK -0F FORT :PIERCE _ • _ - - - _ . - - - _ hereinafter called BANK:, - _ _ - - _ - _ - _ - - ; - _ _ - - =THE PRINCIPAL= M.OF --FORTY-FIVE =THOUSAND AND -NO/1D0--=-------=----~~~-- DOLLARS = - ••~in .240 • equa . more y.=success ve_-paym _ - PAYAB LE - at .the x•ate of=14x--per -annum, _ the -f first ~ .of .such payment s_-being due .aired 'payable - ' on Ju ~ an success ve pa - - = ~ _ _ -•therea~ter.tuttil':this note •is _fuhy -paid as to •principah_ and: interest: Interest thereon shall accrue from the"-date of funding, computed on .the basis of a -365 day year, at the ANNUAL.PERCENTAGE _ RATE OF `14.9X' - _ - _ - - = , • _ . INTEREST SHALL RE'PAYABLE' • monthly = - - _ - _ ~ = _ ~ - = - _ - - Ali payments shall be.applied first'to-accrued interest--and-then io principal: Interest will aocave at the-rate of 1/365th of annual interest for each day that principal •is outstanding, but in no event shall interest•be due at a rate in excess of the highest lawful rate. Without limiting the generality•of ifie~foregoing, and notwithstanding any_oral or-writien agreement,•no deposit of funds shall be i required. in connection with-.this-loanin _an amount which 'will, when deducted -from the principal amount outstanding hereunder, cause the rate of interest hereunderto exf~ed.the- maximum lawful rate. - - - lt an_ y payment_is not made m -full when due, the entire unpaid principal and accrued interest,-less any unearned interest and any _ interest in excess of the maximum allowed_by taw and any-rebates regwred by law,.shall.-at the option of-the-holder--become~._ immediately due and payable without notice. Failure.to exercise the option shall not constitute a waver of the subsequent right to - exercise: ASTER MATURITY,-INTEREST SHALL ACCRUE ON -THE D_ EL".INOUENT PRINCIPAL BALANCE AT THE HIGHEST :.AWFUL RATE OF INTEREST. - - _ _ • . - = - - - - - _ As security for the payment of this note, and any renewers, extensions or.modifications thereof, and any other liabilities of the . MAKER to the -BANK. however or- whenever created,'MAKER_liereby- grants to the BANK a security interest in: - - - - The West -41.4 'feet of Lot 1, and the East.- half of Lot - 2, --Block 2 , -THOMAS .SUBDIVISION : - - -according to the•plat thereof, recorded in Plat-Book 9, Page 70, Public Records of._ _ St . Lucie County , "Florida . ~ - • - _ - • _ - Whether ~w .riot specfic -property is descnbsd above. as add~honal sectiniy fo? ~ift! paymem of this Note. any renewals, extensioru or modificaitons [hereof, and any other_liabilities of MAKER to BANK, however or whenever crewed, MAKER hereby pledges to BANK eny and all property of MAKER now o? hereafter delivered to w left in or coming into the posstision;_control M custor<ly of .BANK, whether expressly as Collateral security or for any other purpose (indudtng cash, stock end other dividends, and all. rights to substiibe fOi securities.irtcident to, declared,-or granied in ~onnettion with. wch property), and property described in collateral receipts or other documents iigrted of furnished by the MAKER, and any and all replacements of.any of - the foregoing, whether or_ not in Me possession of Bank: All wch ~proper(Y and any other property securirg•maker's liabilities to the Bank will hereafter be referred to ss•"the Collateral:' The Collateral is also pledged as security for all other liabilities (primary; secondary,-direct, contingent, sole, joatt or. - : _ _ severaq,-due or•~to become due or which. may be hereafer contracted.orscquirtd, of each Maker lintluding each Maker and any other person) to BANK, - whether wch liabilities arise in the ordinary course o1 business Or not. Rght is herebjr expressly grained to ttie BANK at its option to transfer at any time _ io itself or to its nominee airy Collateral, and to receive the iritbrne thereon~artd hold the same as security herefor, or apply it on the principal or interesT due hereon or due on any liability secured hereby.-The BANK may continue to fiold any.pledged property deposited hereurtde? after-the payment of this _ note, if at the time of the payment and discharge hereot any of the parties.hsble.for.the payment hereof shall be then directly or contingently liable to _ Ij the BANK as maker, endorser, wrety o: guarantor of any other note; draft;,bill of exchange, or other instiumeni, or otherwise, and the BANK may there- after exercise the rights with respect to said pledged property granted herein even though this note- shall have been. surrendered to the MAKER- It is iointly and severally covenanted end agreed with the Bank by each MAKER- ,endorser, wrety, guaranro:, and other party to this note Ia11 of whom are hereinafter for brevity called Obligor or Obligors) that: _ - _ ' - _ _ _ ` 1. Additions•to, releases,- reductions or exchanges of, o~ substitutions for the Collateral,•payments on_accour?f of this loan or increases of the same, or III` other loans made partially or_ wholly upon the Collateral: may from wine to.fime be made without affecting the provisions of thts-note or the habi6ties of any party heroto. Bank shall exercise tessonable care in the custody and preservation of the Collateral and shall be deemed to have exercisttd reasonable care it it takes such action for that purpose ss Maker shall reasonably request in writing, but-rw orntssiorti to comply with any request of Maker shall of it- self be deemed a failure to exorcise ?easonabls care.lNthoitt limiting the gerisrality of the foregoing,-the Bankshsll have no resportsibiliry for ascertaining - eny maturities, calls, conversiais, exchanges, offers, tenders or similar rrtatgrs relsfirtp to sny•of.tfte Collstsral;nor fo_r.irifortninp the undersigned with re- _ • sped to any thereof: BANK shall not be bound to take arty steps rtacessary to preserve arty rights in 'the pledged property against prior parties, and MAKER shall take s11= rtecesssry steps for such purposes. BANK or its nominee need not t:_ollect interest oft or principal :of any pledged property or give any notice with respect fo it.. . - - - - - - _ - t ~ t : F - ! = _ _ • - - - - - - 2. -Upon the happening of any of the following events, each of .which shall wnstitute a i3efault,hereunder, or if the Collateral shall at any time becotre unsatisfactory to SANK, or.ii BANK- .shall at any time deem itself insecure, all lisbilities~of each Maker-to BANK, wftether~or not evidenced by this note, _ shall thereupon or thereafter, at the option of BANK; without notice or demand, became due and payable; la)-failure of enr Obligor to perform any _ - agreement hereunder or to pay m full, when due, any liability whatsoever to BANK or.any installment thereof or interest thereof: Ibl the death of any Obligor, Ic) -the hhng of any petition under the Bankruptcy Act, or any similar federal or state"statute, by or against any Obligor; Idl an application for - the sppointntent of a receiver fo., 'the making of a general assignment for the benefit of aedrtors by, tx tf?e insohrentyof arty Obligor; le) the entry of s iudgment against any Obligor; Ifl the laving of any attachments or garnishment, or the tiling of any lien, against any property of any ObligO?: Igl the - taking of possession of arty wbscantial part of the property of ariy Obligpr at the instar?ce of any yovernmmtal authority; lh) the dissolution, merger, _ consolidation, or reorganisation of any Obligor: li) the determination by BANK that s material adverse change Fins occurred in the (inanaal condition of • any Obligor from the conditions set iwth in rho most recent financial statement o: wch Obligor heretofore turmshed to BANK, or from the tortdiuon of , wch Obligor ss heretofore recast repntly_disclosed to BAND in any manner; or that any warranty, representation;trrtifipte ar statement-of any Obligor ~ b lwfiether Contained in this note or not)-pertaining to or.in oonncction with this note O? the loan evidented by~this.note is not True;.Ij) assignment by env c .MAKER of any equity m any'of the pledgetf Collaterd without the written consent of BANK; Ik)•failure to'do ill thirtys neixssary to preserve and o maintain the value and collectibility•ot;tM tCol4teral; including, but not limned to, the payment of -taxes and premiums on polices of inwrarice on the • ~ due date without txnefit of the pact paitod• i - - ' • ~ • = ' • = - - - - ! - ~ _ - -'iii' ~ji^ •i• - _ ~ - - _ ~ - f1 " THE PROVISIONS ON.THE• REVERSE SIDEnARE A PART OF THIS O E - ' ' ~ - - _ _ . - - _ ~i (SEAL) Note Number - Due - R. TU ER ' ~ - ISEALI ,J Address {9~~ ~tA•Y 22 A~ t~ ~0 J G. MILLER - - s~ Ll1C .FtA. r-~s.J ~i~-~~ - (SEAL) i _ - _ ?~t6~llNt6 1Rf.11iT tOURTy~ JAMES E. ~TF~ELD . - RfMilt VFF.IF?;'~~_~:~-L___... dQ~~~ P~iE~~VW _ _