HomeMy WebLinkAbout0328 COLLATERAL MONTHLY REPAYMENT.Id/O)TE
~ i 76, 348.80
~ "`PXLM
8 AE CN COUNTY FLORIDA _ saPtNber s ,1980
TM urdarslprtad lend If more than one, cent of them jointly and t+ewrNh?1. herein alNd "Maker", promltas to pay to tM order of
PIfiST AMERICAN LANK OP PALM OEACH COUNTY
hereinahar called "Bank". at any Of lu offkaes_ lo? at ouch other Plea as tM hokfer haroof may designatel, tM
8t;'9lRt~N1= ChotlB red lOrtMijtht sad 80/100--•--- OOLtAR817pTAL OF PAYMENTS)
1Z0. I,to kfterta = 6 6 4 • , on d» ~ flay of ..at wrooeeUtle /nonM eotftrnaodrp
OCI.~-_~_; t9 80 hat with! a BA PAYMENT M tM amount of i ~ dw on ~ 19
late to exact . 5 parent of tM amtwnt of any principal payment or payments In defauh,. All pgyments merle here(inde?
thaN sterol and lawful chafga then aocfued and the remainder to prnclpal. The amount of this rota Iftdu~et tM proceed= of
' ~ ,credit Ilfe inwrance premium of 1<la - lus other charges IDeswlbel _
• Irttsultirtg in an AMOUNT FINANCED i40 060.15 1 plus • FINANCE CHARGE o ~ .288 6
(which atnaun includes inters . and c lion cost of i 50e 00 t resultlrg In sn
ANNUAL PERCENTAGE R 14.48 % M Maker has the right to prepay this loan In full and obtain a robata of the unesmed portkxl of the
interest and uei3it Ilfe inwrortoa prom ed under the "Sum of tM Dgiri" method.
As used Mrein the rum "Collateral" shall mean and lncludP the following property whkh has been or is hereby pledged, assigned
or conveyed to, a deposited with the 8snk
_ Hortgage as reoorde t a e o t a re t urt n or t.
e .Dimly, o a
and any and all other property of every kind or descfip~ion now or hereafter In tM possession or under the contrd an or any
reason, together with all additions and substitutions hereafter phrdged to or deposited with Bsnk, and including_ a9 ush, stock and
other dividends and all rights to subscribe for securities Incident to, declared, or granted in connection with afty property herNn above
described or referred to. As used herein "liability" or'tiabilities" means and Includes this note and all obligations and liabilities (primary,
secondary, direct contingent. sole; joint o/ several), due o? to become due or which may t)e 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 Asw a lien upon, security
title to and a sacurihr interest in all the Collateral as secuMy for the payment of this note and all liabilities, including any extensions,
renewals or changes in form of any thereo/. The surrender of e. upon payment or otherwise, shall not affect-the right of Bank to
retain the Collateral fo? env other liabilities.
CREDIT LIFE AND CREDIT EiFE 6 DISABILITY INSURANC RE YOL.UN RY AND NOT REQUIRED FOR CREDIT. Such insurance cowrsp Is available at tM
cost designated ttelow fa tM term M tM credit: (a) or redit Lip Insure (b) i t~ _ for Credit 4h i Disability Inwrance
Check ~ Credit Lile Inwrance is desired on tM life of _ _ &Rhdate
BA~- ~ Credit life i Disability Inwsnce is desired on_ _ _ _
Credit Ufe and/or dsablity Inwrance is not dealt t ~ l~
(betel! Sept. 16,a 1980 (Signature ' 'l ~ ~ ,~^,,'y~` _ _ _
Additions t0. reductions or releatea or exchanges or s0 s CoUstere4 p s t ll'or increases tM same
or other loans made partisay a rhoty upon tM CoNatesl. may from tlrne to time be made without ftectina tM provlsiars of this note. Bank shag '
exercise reasonabh care in tM custody and preservation of tM Cotlsterel to tM extent squired by appNeabN statute, and shall tra dae.ne0 to haw
exercised reasonable care if it takes such xtion for that purpose ss Maker sMll reasonably request in writing, but no omission to do any set not
sgwsted by Maker sMll be deemed s failure to a:ercise reasonabh care, and no omission to comply with any request of Maker apart of itself tt•
deemed a failure to exercise reasonable cos. Bank shaft not be t)owld to tab and steps necessary to preserve any rights in tM Collateral against
prior parties and Msbr shsN tab aR necessary steps Ior such purposes. Bank or its nominee need not eolNet interest on o? principal of any Col•
lateral or give any notice witA respect to it. H the Collates( shall at any time become unsatisfactory to Bank Msbr shalt wfthin one day after de•
mend pledge and dtposit with Bank as part. of tM Collates) additional property which is satisfs.:tory to Bsnk. .
Bank is hereby granted a security iMesst in an property of each Obligor (which term shat) mean and include exh Mabr, indorser, surety and
guasntw of this note) now a at any time hereafter in tM possession of Bank in any capacity whatsoever, including trot not I„sited to any balance
or shay of any deposA, trust, or agency account, as security for tM payment of this rate, and s similar security interest in all such property of
exA Maker as security for iM payment o1 all otMr liabilities: and 8snk shall Mw tM same rights as to such property as it Ms with aspect to
the Collates). The holder o1 tMS note may st any time, wtvMMr or not this note nos matured, cMrgs any indebtedness represented by flits note against any
deposit xcount, general or special. of any obli~w hereon, rctum,ng any unearned interest w discount; but failure to apply any paA or all of said account
on this note or to enforce any of tM rights herein given the holder spilt not affect tM tiabiUty of any obligor hereon.
Borrower will et all times keep the collateral Inwred against loss, damage, theft, and such other risks ae Secure0 Party may require. The bank does
not solklt for nor recommend any inwrenu company. The choke of Inwranp companies Is the Oblleor's atone. Borrower hereby gents to bank e
security interest in any returned or unpmed psmlums from any Inwrance flnaneed hereunder.
Bank shall have. but sMg not be limited to, the folbwing rights, each of which may be exercised at any time whether or not this note Is dw:
(i1 to pledge o? tsnster this none and tM CWlateral and Bsnk shat) tharwpon be relieved of all duties and responsibilities hesunder and ret,eved
~ from any and alt liablity ritA respect to any Collateral sc. pledged or transferred, and am pledgee or transhree shall for all purposes stand In the
Diace of Bank hueunder one Aare all tM rights of Bank Hereunder; (2) to trans/tr the rfhole or any psR of tM Collateral into lM name of itset/ or
I its nwninee; (3) to vote tM CoUsteral- (t~ to nattfy the obligors on any Collateral to make payment to Bank of any amounts dw or to become dos
tht•reon; (5) to demand, sw for, radical. a mob any compromise or settlement it deems desirable with reference to tM Collateral; and (ti) to take
possession and control of any proceeds o/ Cdlatesl.
The happening o1 any of tM fdlowing events shall constitute a_ derauit Mreunder. (a) /aiture o1 any Obligor to pay in full any Instalment
payable Mreunder promptly when it becomes dw; (D) folios of any Obligor to pay in full when dw any indebtedness, obligation, or Gabitdy to Bsnk
whatsoever, or any instalment thereof a interest lherean•.(c) failure of any Ob:rgor to perform any agreement hereunder, (d) the death of any Obligor,
any Obligor becomes insolvent or any insdvency proceedings (as said terms "insolvent' and "irsdrency proceedings" are defined in the Uniform
~:ommercial Code) are instituted a made br or against any Obligor, or application for ilia appo,ntment of a receiver for any Obligor Or for any of the
azsets of any Obligor; (n the swing of any anachmerrt or garnishment, or tM filing of any lien against any property of any Obligor.
If at any time any warsnt. repressntatiar, certificate or statement of any Obligor (whether centainsd in this note or not) pertaining to or in
connection with this note or tM loan or credit evidenced by flits note, is not true, or upon the happening of any event of detauk as defined herein.
or i( Bsnk at any time leers insecure for any reason whatsoever. (1) tM entire amarrtt of this note sms,ning unpaid, less the amount of any unearned
interest or discount and any rebates required br law, shall become dw and payable foAhwith or thereafter at the option of the Bank and without notice
nr demand (and in no evert and under no circumstances shalt Bsnk Or any hdder hereof be entitled hereunder to unacc•ued or unearned interest or
other charges, and in no event 'and under ra circumstances shall Bank or any holder Mreof be entitled hereunder to receive at any time any charges
red allowed or permined br tar or any interest or interest rate in excess of tM maximum allowed by law); (ii) Bank may, at its option, thereupon
-,r thereafter declare all other liabilities. Or any of them selected by Bank (notwithstanding, any provisions thereof), immediately due and payable
«,thout demand or notice o/ any kind (trot with such adjustments, N any, with respect to any interest or other charges as may be provided for In
the promissory note or other wnUng evidencing such tisb4ty; (iii) Bank shall haw and may a-ercise without demand any and all the rights and
remedies granted to a secwed party upon defauR under tM Uniform Commercial Code or otherwise available to Bank precluding those avail«ble
under any wrinen instrument in addition to this note relating t0 any Of tM liabilities O< any security tMnfor~ and, without limiting the goner:'qty
of tM fo?egoirrg, Bank shat) have tM right, immediatNy and without /urtM/ action br it. to sal oN spinal this note alt money owed by Bsnk
in any cspxity to each or any Obligor. whether or not dw, and also to set OH against all other listriiites o1 exh Maker to 8snk all money owed
Dy Bank in any capacity to exh or any Maker, and Bank sha'I be domed to haw axsrcised such right of setoff and to have made a charge against -
any such money ImmediatNy upon tM occurrence of such defauR o? otMr event even though such charge is made or entered on tM books of 8snk
subsegwM tMreto; and fir) the Obligors, jointly and severally, promise and agree to pay all •:pensts of Bank in tM collection of this note and to
tM enforcement of rights Mreunder and in !M enforcement of rights under or with respect to any of tM Collateral, including reasonable anorneys'
tees. My psceeds o1 any Collateral a of any disposition of any Collateral may ire applied by Bank to the payment of expenses in connection with
tM Collateral, irrclydirrg reasonatrie anwneys' tees and Segal a:pensts. If any notification of intended disposition of any o/ tM Collates) is required
by law, sH requirements of rsasonsble ndice shall ire met, and such notice shall ire deemed properly given, rf st least ?iw days trtfore such disprs6
trop such notice is served on tM Maker in the manner herein provided. Upon disposition d any Collateral Maker shall_ De and remain liable for
any dNieteney; std Bsnk apart account to !Maker for any wrplus, but Bsnk shall have tM right to apply all a any part o/ such-surplus to the pay-
ment of any lialrikties whether a not they, or any o/ LMm, ire tMn due, and in such -order of application as Bank may from time to Uma sNet.
No daisy w omission on tM part of Bank in exercising any right MreunGr ;wall operate as a waiver of such right or of any otMr right under
this noM. It more than one party shallex~culethis note, tM term "Maker' shah aft paRies siptfng this note and exh of them, jointly and sew
esUy. As used fnrain, the singular shall rrtcluds the plural and tM piwsl . II swan i•_7.,~f~de tM singular, and any praaun, or whatever
l gender, shag Incwrde aN genders. My notice to Jrlabr shall be wffideMy served r ,all burposes H plx In tM mail, postage prepaid,
addressed t0. or IeR upon tM premises at. tM address shorn hereon or any other rlrtg an Ban records.
Msbr etkrtowladps receipt of a completed copy of this note on tIN show j
~,c
AnnfeEat 975 - Q3rd Aven,te ~ ~ ~ ~ (/ill ,
Robert L. Ga ~
VE•rn RawCh r Pl R
Yv e G
80a(~ PAGE t~,c7
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~E~~.~~._ t''~~RE' D1SGL~Stl~~ COPY NON NE~UTiA~L~
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