HomeMy WebLinkAbout0518 INSTALLMENT PROMISSORY NOTE
~~a.•~~at l~s ~ IAl Amount Received S ~e~•~
BAND AMFi
E (B) Premium fw Cndit
'•O• ~ ~Me ~ • ~ Life/Disability Ins. S
ICI Documentary Sumps S ~M
OFFIC ADORE 101 Other Charges (itemize) S
A wf
May 13, .19 Wig. lF1 = OOM
NOTE NO. GATED:
1
Ma 26, IG1 Amount Financed 9342.00 '
DUE: .y , 19 88 , IA, B, C, D, E, F) _
IHI Interest S ~ •
PLACE: ,FLORIDA 111 Credit Investigation =
For wlue received, tM undersigned (hereinafter called "Maker") jointly and severally lit IJl Other ~
more than one) promise to pay to the o of tM Bank, at its office listed above, ~/Qat Ilcl S wOf~
of Payments (from INl at right) of f~~eg15•~0 Dollars payable in~~" (L) S
IMI HINANKELCHARGE S
equal monthly installments of S , tIN tint ~f~•GV
~nstallrrtent due on ~p~ , 19~., and wbsequent insullments due on lN? Toul of Payments IG + M) S • •
[he2~day month thereafter, :o~tMr ==NFINAL BALLOON PAYMENT O~ ANNUAL PERCENTAGE RATE 10•~ %
s 111118 ouE ,
Ths Bank shall impose a delinquency charge against the Maker on any payment which has becorrw due and remains in default for a period in exoas of 10
days in an amount equal to 6% of the amount of the principal pert of the payment in default. In the event that the Note is not paid in full at maturity, all pay-
ments, whether principal, interest a otherwise, shell bear interest at the maximum legal rate allowed under the laws of the State of Plaids. All psynsertts nsade
hereunder shall bs credited first to interest end then to Rrincipal, however, in the event of default, the Bank may, in its sole discretion, apply any payment to
interest, principal and/a lawful charges then accrued. It is the intention of the parties hereto that the provisions herein shall not provide directly a indirectly
for the payment of a greater rate of interest a the retention of any other charge than is allowed by law. If, for any reason, interest in exoess of such NgM rate a
a charge prohibited by law shall at sny time be paid, any wch excess shall either constitute and be treated as a payment on the principal a be refunded directly
to the Maker.
The Maker may prepay the entire unpaid balance of the loan at any time. If the loan is prepaid in full, accelerated a refinanced, the Maker shell receive s
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 stain
a minimum interest charge of 56.00.
CREDIT LIFE AND CREDIT LIFE t4 DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwrancecoverage is
available at the cost designated below for the term of the credit: lal S for Gedit Life Inwrance Ibl S
[or Credit life m OisabiGry Insurance: ,
Check ? Gedit Life Inwrance is desired on the life of
Appl. Birthdate
Box ? Grdit Life & Disability Inwrance is desired on
Birthdate
Credit Lile and/a Disability Insurance is not desired.
May 13, 1978 ~ 3
Date: Sgnature
Sgnature
gra e n u~ inter t~ foll r ro r
r~~q~Dwr.°'~b~',t'~..~~~ ~e``~" Y~ and ~"~A . 9~~~ ~ e as . i
i ~
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•
including all increases, substitutions, replacements, additions and acceuions thereto and in the proceeds thereof (hereinafter called "Collateral'1. This security
~ interest shall also secure any other indebtedness a liability of the Maker to the Bank direct or indirect, absolute or contingent, due a to become due, now ex-
feting or hereafter arising, including all future advances a loans by the Bank to the Maker.
! The Bank is also given a lien and a security interest in all property and securities of the Maker, endorser, wrety, guaranty or accommodation party of this
Note Ihereirsatter referred to as the "Obligors'7, now in a at any time hereafter coming into the control, custody or possession of the Bank, whether fa the ex-
! pressed purpose of beirg used by the Bank as Collateral, a fa any other purpose, and upon any balance or balances to the uedit of any aaounts, including
trust and agency accounts maintained with the Bank by any of the Obligors, and the Obligors agree to deliver to the Bank additional Collater~ or make such
~ payments in reduction of the principal amount of the loan as shall be satisfactory to the Bank, in the event the aforementioned Collateral shall deditte in value
or become unsatisfactory to the Bank.
Additions to, reductions or exchanges of, or substitutions for the Collateral, payments on account of this loan a increases of the same, a other loans made
partially or wholly upon the Collateral, may from time to time be made without affecting the provisions of this Note. The Bankshall exercise reasonable care in
1 the custody and preservation of the Collateral to the extent required by applicable statute, and shall be deemed to have exercised reasonable pre if it takes such
action fa that purpose as Maker shall reasonably request in writing, but no omission to do any act not requested by Maker shall be deemed a failure to exercise
reasonable care, and no omission to comply with any request of Maker shall of itself be deemed a failure to exercise reasonable Wre. Bank shell not be bound to
take any steps necessary to preserve any rights in the Collateral against prig parties and Maker shall take all necessary steps for such purposes. The Bank a its
nominee need not collect interest on, a a principal of, any Collateral or give any notice with respect to it.
The Bank may continue to hold arty Collateral deposited hereunder after the payment of this Note, if at the time of the payment and discharge hereof any of
the parties liable for the payment hereof steal! be then directly or contingently liable to the BanKas Maker, endorser, wrety, guaranty a accommodation party i
of any other mote, draft, bill of exchange, or other instrument, or otherwise, and the Bank may thereafter exercise all rights with respect to said Collateral
granted herein even though this Note shall haw been wrrendered to the Maker_
If the Bank deems itself insecure or upon the happening of any of the following events, each of which shall constitute a default, all liabilities of each Maker to `
[he Bank, including the entire unpaid principal of this Note and accrued interest, less any uneamed interest and any interest in excess of the maximum allowed
by law and any rebates required by law, shall immediately or thereafter, at the option of the Bank, except that the oecurrertce of Ic? a (d) shall cause automat-
s is acceleration; without notice or demand, beeomedue and payable: la) the failure of any Obligor to perform any obligation, liability a claim to the Bank, to pay
r interest hereon within 10days after it is due, or if there is no due date, after it is billed a otherwise requested y demanded, a to pay any other liability what-
4 soever to the Bank when due; (b) the death of any individual Obligor, the dissolution of any partnership Obligor or the dissolution, merger a consotidetion with-
s out the Bank's prior written consent of any corporate Obligor; lcl the filing of a petition in bankruptcy or the adjudication of insolvency or bankruptcy ursder
any reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceeding under any Federal a state statute, by a against arty/
i Obligor, (d) an application fa the appointment of a receiver fa, or the making of a general assignment for the benefit of ueditors by, any Obligor; lel the entry
~ of judgment against arty Obligor; Ifl the issuing of any attachment or garnishment, a the tiling of arty lien, against any property of any Obligor; lgl the taking of
possession of any wbatantial part of the property of arty Obligor at the instance of any governmental authority; Ih? the determination by the Barrit that a materi-
al adverse clsartgs has occurred in the financial condition of any Obligor from the conditions set forth in the most recent tirtancial statement of ouch Obligor
heretofore furnished to the Bank, a from the condition of wch Obligor as heretofore most recently disclosed to the Bank, a that any warranty, representation,
t certificate or statement of any Obligor (whether contained in this Note a not) pertaining to or in connection with this Note or the loan evidersced by this Note
contains an untrue statement of material fact a omits to state rr?aterial fact necessary in order to make the statements made not misleading; or, lil the assign-
ment by arty Maker of any equity in any of the Collateral without the prig written consent of the Bank.
The Bank shall have, but shall not be limited to, the following rights, each of which maybe exercised at any time whether a not this Noe is due: lit to
Dled9e or transfer this Note and the Collateral and the Bsnk shall thereupon be relieved of all duties and responsibilities hereunder and relieved from sny and af!
liability with respect to any Collateral so pledged or transferred, and any pledgee or transferee shall fa ell purposes stand in the place of the Bank hereunder and
have ell the rights of the Bank fereunder; (ii) to transfer the whole a any part of the Collateral into the name of itself or its nominee; (iii) to voce the Collateral;
liv) to notify the Obligors of sny Collateral to make psymsnt to the Bank of any amounts due a to become due thereon; (v) to demand, sue for, collect, a
make any compromise a settle~P yi it,~eems desi~.tlvitg reterertce to the Collateral; and (vi) to take possession a control of arty proasds of Collateral.
*'6ANK' as sad ilerr~ll~:liant Tn~!'IO diet Assoclatts, Iac. and~or tts asst~ls.
Ft35 752 Rw. 7/77 NOTICE: SEE OTHER SIDE FOR IMPORTANT INFORMATION ert~~ P'rC