HomeMy WebLinkAbout0391 LLATERAL MONTHLY REPAYMENT NOTE
' No,
R PALM 9EACH COUNTY FLORI JOh V ~ 19 ,RD
The utldenlpfted land if mote then one, each of them Jointly and , promisee to pay to ttt? order of
PIRiT AMERICANSANK OP /'/1LM fRAGi COUNTY .
herNfNfter t;alMd."9enk". ak any of hs offioae for M veldt other plaoe m tM holder hereof may desyrtatNi tM
' t DOLLARS ITOtAt. OF PAYMENTS)
t u each, on th~ ZD~ day of eaoh elrooeeflve month oomfileftdit0
;19;,~, het whl~ rt AYMENT In the aftttwnt o ~ dw on -
and w exceed 5 perwttt of tM amalttt of city prindpN peyfttent or peyniena In dehult~
peytnents nteda Mnundei
to tntefwt and lawful ehafga tMn axnled acrd tM refraifldar to prirteipel. The amount of this ftob Iftdudae tM prolads of
, credit life tnturance premium of = . pros other tdtaryas (Describe)
S (reauhiflp In an AMOUNT FINANCED O = 1 plus a FINANCE CHARGE t =
Iwh rtdtxfa Interest of = 4 4s ion coat of : • ~ rp in an
ANNUAL PERCENTAGE RA of 24` ~ The Maker has tM right to prepay this k)wl in full and obtain a rebate of tM urtgrrlad portion of tM
interest end crodit life insure Ium urtdar the "Sum of the Oigiri" method,
As used herein tht term "C Brat" shall mean and Include the folkgwing property whkh has Dean or is hereby pkfdged, assigned
or conveyed to, or. deposited with the Bank
_ 1brt,Ea~o as r o t Cis t Owst in cad os Pa2>a
~b -~-e rinr3~s_- -
end any and ap other propei:y of every anki or descrlpNon crow or herssRer In tM possession or under the control Ban oc any
reason, together with all additions and substitutions reciter pkfdged to o? deposited with Bank and including all cash, sttxk and
other dividetods and all rights to subscribe /or securities Incident to, declared, or granted In connection with any property herein above
described or referred to. As used herein "liability" or'liabilities" means and Includes this note and all obligations and Ilabilities (primary,
secondary direct contingent, sole, joint of several), due or to become due or .whkh may be hereafter contracted or acquired of each
Maker (including any Maker and any other person) to Bank Maker warrants and agrees that Bank has and shall have a lien upon, security
title to anti a security interest in all the Collateral as security for the payment of this note and all liabilities, Including any ertensions,
renewals or changes in form of any thereof. The surrender of this note, upon payment or otherwise, shall not aihct the right of Bank to
retain the Cdlateral for env-other liabilities. -
CREDIT LIFE AND CREDIT LIFE 6 DISABILITY INSURANCE. ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such Insurance coverage Is available st tM
cost designated below for tM term of the credit: (a): _fw Credit Life Insurance (b) L for Credit Life-6 Oissbility Insurance
CAeck ~ C.edd Life Inwrancs is desired on tM fife of i_ 8irthdate _
Appl. Credit Li/e 6 Oisablity Insurance Is desired on
Bo: - - - - -
(~~r*Q}t,l.ife yYtfpr.Disability Insurance is not de
iDate/ a 1`1i3<! (~gnatu - -
Additions to, reductions or releases or exchang or sobstRuHons for tM Collateral, payments on account of this loan o. Incroases of tM same
or other loans made partiaNy or wholly upon tM erol, may from time to ttntt be made without affecting tM provisions of tAls nde. Bank shall
exercise reasonable taro in the custody and o tion of tM Collstoral to tM extent required by applicable statute, and sM11 be deemed to Mw
exercised rosaonalrN care if it takes such xtion for that purpose as Msla? sMlt reasonably roquest in writing, but no omission to do any let not
requested try Yab? sMll Ire deemed a failure to exercise roasonabN care, and no omission to comply whir any roqueKt of Maker shall of itself bs
deemed a tailuie to axercist reasonable cars. Bank shalt not be bound to take .any steps necessary to preserve any rights in tM Collateral against
prior parties acrd Mabr shall take all necessary steps for such purposes. Bank or its nominee need not collect inNrest on oc principal of any Col-
lateral or give any notice with respect to it. If the Collateral sMll at any time bsconre unsatisfactory to Bank Maker shall within one day after dr
mend pledge and deposit with Bank as part, of the Collateral additional property which is sstisfattory to Bank.
Bank is Mreby granted a security interest in -all Droperty of exh Obligor (which term shaft mean and include exh Msbr, indorser, surety -and
guarantor of this note) now or at any time hereafter in the possession of Bsnk In any cspxity whslsoewr. including but not limttad to any balance
or share of any deposit, trust. or agency account, as security for tM payment of this note. and a similar security interost in all such property of
each Mabr as security for tM paymtnt of all o1Mr liabilities: and Bank shall Mw tM saira rights as to such propeRv as it Ms with respect to
the Collateral. TM holder of thrs note may at any time, whether or not this recta has matured, charge any indebtedness representtad try this note against any
deposit account, general or special, of any obligor hereon, returning any unearned interest or discount: but failuro to apply any paR or all of acrd xcount
j nn this note or to enforce any of the rights herein given tlx holder shall not affect tM 6abitity of any obligor hereon.
Borrower will n all times keep the collateral Insurod spalnst loss, dainege, theft, and such oilier risks as Secured Party may require. The bank does
not soltclt for nor roeommend any Insuronp company. TM choke of Inwrancs eompanlea Is the Oblleor's ebM. Borrower hereby grants tt) bank •
security Interest In any rotumed or unearne0 promlums from any lnwrance financed hereunder.
Bsnk shall have, but shah not be limited to, tM followirrg rights, exh o! which may be exerclstd at any time whether or not this note is due:
(1) to pledge or transfer this note and tM Collateral and Bank shall thereupon be rtlieved o/ all duties and responsiblities htreunder and relieved
from any and all liability with respect to any Collateral so pledged or transferred, and an pledgee or transferee sAall for all purposts stand In the
place of Bank herturrder and have all tM rights of Bank herwnder; (2) to transfer the ~te or any paR of the Collateral into 1M name of itself or
its nominee; (3) to vote the .Collateral; to notify tM obligors an any Collstarol to mob payment to Bank of any amounts due or to become dw
thereon; (5) to demand, sw tor, col:ect, or mats any compromise or settlement tt deems desirable with reference to the Collateral: and (6) to take
~ possession and control of an
y proceeds of Collateral.
The happening of. any of tM idlowirtg events shall constitute a default Mreunder (a) failure of any Obligor to pay in full any tnstatment
oayaMe Mreunder promptly when it txcomes due; (b) failuro of any Obligor to pay in furl when due any indebtedness, obkgation, or liability to Bank
«hatsoever, or any instalment thereof or interest thereon• .(c) failuro of any O!'tgor to perfoms any agreement hereunder, (d) the death of any pbtigor,
~ e) any Obligor becomes insolvent or any insolvency proceedings (as said terms "insotwnt" and "insolvency proceedings" are derrned . in the Uniform
:'ommercial Cade) are instituted or made by or against any Obligor, or application for the appointment of a rectiver (or any Obligor or for any of tAe
E .,sets of any Obligor; (t) the issuing of any attxhment w gamtshntent, or tM filing of any lien against any property of any Obigor.
I If at any time any warrant, representation, ceRificate or statement of any Obligor (whether contained in this note or not) pertaining to or In
connection with this note or tM loan or credit evidenced by tMs note, Is not true, or upon tM happening of any event or defautt as defined herein,
nr if Bsnk at any time feels insecure for any reason wAatsower. (i) tAe entire amount of this note romarning unpaid, less the amount of any unearned
interest or discount and any rebates required by law, shall become dw and payable forthwith or thereafter at Ilia option of the Bank and without notice
or demand (and in no event and under no circumstances shall Bank or any holder hereof De entitled hereunder~to unsccrued or unearned interest or
nther'chargts, and in no event and under no circumstances shall Bank or any holder Mreof be entitled hereunder to receive at any timt any charges
not allowed or permitted by law or any interest or interest rate in excess of tM maximum allowed try law); (ii) Bark may, at its option, thereupon
o. thereafter declare all other liabilities, or any of them selected by Bank (notwithstanding any provisions thereof), immediately due acrd payable
«~thout demand or notice of any kind (but wrth such adjustments, tf any, with respisct to any interest or other charges as may W provided for In .
the promissory note or other venting evidencing sucA liability; (iii) Bank shall have and may exercise without demand any and all the rights and
remedies ((ranted to a secured party upon default under the Uniform Commercial Code or otherwise ava~lstrlt to Bank (including those avail.:bte
under any written instrument in addition to tAis note relating t0 any of the liabilities Or any sacunty ttrtrolor) and, without limiting the gene~.:'rty
if the foregoing, Bank shall have the right. immediattly and without furthN action by it, to set oN against this note alt monty owed by Bank
.n any capxity to ~exh or any Obligor, whether or not due, and also to set off against all other liabrtites of exh Maker to Bank all money owed
f by Bank in any capacity to each nr any Maker- and Bank sha'I bet deemed to Aave exercised such right of set-off and to have made s charge against
any sucA money immediately upon the occurrence of such default or other event even tAough such charge is made ar entered on tAe books of Bank
subsequent thereto; and tiv) tAe Obligors, jointly and severally, promise and agree to pay all expenses of Bsnk. in the co:lection of tAis note and In
the enforcement of rights hereundtr and. in tM enforcement of rights under or with respect to any of tM Collateral, including roasonable .attomsys'
tees. Any proceeds d any Collateral or of any disposition of any Collateral may De applied by Bank to the payment of expenses in co.~natition witA
t the Collateral, irKlrrding roasonable attorneys' fees and legal espenses- If any notification of intended disposition al any of tM Collateral is required
Dy law, alt roquirements of reasonable ndice sha1L be meR, and sucA notice sAatl Ae deemed promtAy given, if at Itast five days before such dispusl-
lion such notice is served on tM Maker r'h tM ;tt(lsfasis herein provided. Uooe .disposition .01 any Collateral Mabr shah t» and remain liable for
any deficiency; and Bank shat) xcount to Yally for any wrplus, but Bank sASll Mw the right to apply aN or any part of such •surptus to the pay-
meet o1 any liabtitits wtrdMr or not tf?~y, or an)i of tMm,, be tMn dw. and in sucA order of sppliutron as Bank may from time to tints elect-
No dNay a omission as the part of Bank in e:trcising any right Maunder shag operate as s waiver of such right. or of any otMr right under
this note. If more than one party shaliexoeufethis note„tM ttrm "Maker' sMll mean all partieK signhtg this note and Barb of tMm, iointy and sev
eraQy. As used herein, tM singular sMll include tM plural and tM plural shall ratan and include tM singular; and any pronoun, or wAatever
gender, shag include all gtrrders. My rrotip to Mabr sMll be sufficiently served for .all purposes if placed in tM mail, posbp prepab,
addressed tq, or feR upon tM premises st. tM sddross shown hereion or any Driver address appaarM?a on Banks records.
taker ~ receipt of a eontpleRed copy of fhb note on the .bow date.
A .1007 t f~r?~ P1.
!~o_ aL 1g A --0 ll ; 2~ Jags a - - , ~ ,
~ TtF r~tAu
1 t B~lada L. CalLhaa
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REGULATION "Z" DISCLOSU~tE COPY NON NEGOTIAELE
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