The URL can be used to link to this page

Home My WebLink About0998 f INSTALLMENT PROMISSORY NOTE SOUTHEAST FIRST NATIONAL BANK OF FORT PIERCE l/11 Amount Renivsd ~ s 10 ,,1100.00 DANK NAME IBl Premium for Gedit Life/Disability Int. s ~n~ 300 South Sixth Street. Fort Pierce. Florida tcl oocuntentarystampt s__y;p- OFFIC ADORE IDI Other Chargq littmud s ~~n/~ IEI i - NOTE NO. GATED: October 6 , 18~_. IFI s IGI Amount Finartcad uuE: October 15 , tg~,~„.. IA, s, c, D, E, FI s 10.000.00 INI interest Qb7_ 76 LACE: ~ Fort Pierce , FLORIDA 111 credit Investigation s -~1- ul otM. s Fa value rst»ivsd. tM undersigned (hsrsitsniter ca1Nd "Makes") jointly and eevsraHy (il IKI s ,Wort tMn one) promise to pay to tM order of tM Bank, at iq ottia titled above, tM ToW •,t Payments (lrom INl at right) of • Oollers psysbN in ~Q_ IL) s • Dual monthly install t~ 2 ~t 2 8t , tM tint IMI FINANCE CHARGE _ IH, 1, J, K, LI :,srlallCfment dw On ,19_. and wbsaquertt installments dw on INI Toth of Paymenri IG + M) tI 13 • 6 rr:e~day of each month tMrsattsr, ANNUAL rERCENTAGE RATE 15 % 6 The Bank shell impose a delinquency charge sgainit tM Maker on any payment which has becorrN due and remains in delwlt for a period in axons of 10 ,ys rn an smount equal to 5X of 1M amount of tM principM part of tM payment in delwlt. In tM went that tM Plon is not paid in full at maturity, MI pay „tents, whether principal, interest a otMrwits, shall bear interest st tM maximum lags) rate allowed under tM laws of tM State of Florida. All payments treads ~••reunder shall bt credited firt• to interest sad then to principal, however, in tM want of default, tM Bank msy, in its soM disustion, apply any payment to •,rerest, principal and/a lawful charges then sarued. It is tM intention of tM partNS hereto that the provisions Mrein sMll not provide directly or indirectly the paympt of a granter ran of interest a tM retention of atw other charge then K Mowed by law. If, for any reseon, interest in sxoess of stxh IpM ran a , narge prohibited by law shall at say time be psd, any such sxoses shall either Constitun sad bs treated as a paymNtt on tM principal a bs refunded dinetly • t ne Maker. The Makes may prepay tM emir! unpaid batanq of tM loan st any tirrts. It tM Iwn n prepsid in lull, accetented a retinantwd, tM Maker shall rtCNVe s Wand of tM unearned portion of tM interest and inwranCS premiums computed by tM Rule of 78's method, except that tM Bank sMll be entitled to raisin r.•rnimum intNest Charge of 15.00. CREDIT LIFE ANO CREDIT LIFE 8 DISABILITY INSURANCE ARE VOLUNTARY AND NOT REQUIRED FOR CREDIT. Such inwranacoverage is :.,,iableat tltecost designsted below fes tM term_o1 tM credit: (s) t for Gedit Lile lnwrance lb) i • Credit Litt 8 Disability Inwranee: r•.eck ? Credit Lils Insurance is ttesired On tM lilt of ~.;apt. Birthdate ~ • ? Gedit life & Disability Inwrance is desired ors Birlhdate Credit Life and/es OisabrGty Inwrancs is not desired. October 6 1980 signs re Signntu As security tes eM psyment of the Note tM Maker hereby grants tot Bank a stcurtty interest in tM following property: pr~ertX described on mortgaxe of even -date . ~udrrq all increases, substitutions, replacements, addi and secessions the to and in the proceeds therpi (Mreinaftt• Called "Collateral"). This eeturiry { • • est shall also secure any Other indebtedness a liab tM Maker to Bank duect or induces, absolute or contingent, due a to bscortte due, now ex- . r,g a htrNtter arisiry, intludiry al u s advances a by tM Bank the Maker. The Bank is slso given a iron s a rity interest r alt operty securities of the Maker, endorser, wrety, guarsntes or actontrnOdetion party Of this • Iheretnafter relerrsd to n th "Obl s'1, now in a t ray time eslter COmrrg into the control, custody or possession of the Bank, wMthar for tM sx- .-csed purpose of being used by t Bank Collateral, or or any a purpose, and upon arw balance a bslances to tM eredrt of any atcounis, including •at and agency sccounts rriarritai vwthtM Bank by any of tM tigOrs, and the Obligors agree to dNiver to the Bank additional Collatersl es make such recess m reduction of [M pnntr I amount oft lose as be satistsctay to the Bank, in tM event iM aleserttentitxred Collateral shall decline in value •MCOme unsatnlactory to the Ban Additions to, reductions or exchan of, or titutrorts a tM Collateral, psyments on account of this lose a inueasss of the same, or other loans made • r rally a wholly upon tM Collateral, f time to ti bs made without ailecting the provisions of this Note. The Bsnk sMll exercise reasonable care in . custody and prsserration of the Collateral to the eaten squired by applicable statute, and shall be deertted to hsvs exercised rsasonabls art if it take such ~,r,n la that purpose as Maker shall ressOnably request i writing, but no omission to d0 srty sCt not raquestsd by Maker shall be deemed a tailors to exercise :onable care, sad rtrs omission to comply with any request of Maker shall of itself be deemed a tailors to exercise rsasonsbte care. Bank shall not bs bound to ary steps nstessary to preserve say rights rn tM Collateral against prior parties and Maker shall take sll necesssry steps fa such purposes. TM Bank a its .~„rnee need not collect interest on, es s principal ot, any Collsteral or give any notice with respect to it. The Bank may continue to hold any Collateral deposited Mrwntler alter tM psymsnt of this Note, it at tM rims of tM payment and discharge herpf any of parties liable for tM payment Mrpf shall bt then directly es Contingently IiabN to tM Bank ss Maker, endorser, wrsty, gusranta a nocorrtrnodation party .,ray other note, draft, bill 01 exchange, a other instrument, a otherwise, and tM Bsnk may thereafter exercises sll rrgftts with respect to ssid Collatersl .,rated Mrein ewe though this Note shall Mvt bash wrrsndtred to eM Msker. ' ~ l the Bank dorms itself insecure a upon the hspptning of any of tM tollowntg events, tack of which sftnll Constitute a default, all lubilities of ssch Maker to Bank, including the entire unpaid principal of this Note sad accrued interest, lest any untsrned interest and any interest in extsss of tM msximum Nlowsd law and say rebates required by IoW, shall irrtrrtsdistdy or therealtsr, at the option of the Bank, ~xtept that tM otxwrence of ICI a Idl shsll Csuse sutomst- ~ ccelerauon; without notice es demand, bsoorrre dw and payable: lest tM tailors of any Obligor to pertain any obligation, liability es claim to tM Bank, to pay •,••est Mrton within 10dsys aster it is dos, a i( there is no dw date, aftrtr it n billed a otherwise requsttsd a demanded, a to pay any other liability wttat- • ver to tM Bank when dw; Ibl tM deatA of any individual Obliges, tM dissolution of any psrtrNrship Obligor es tM dissolution, merger es consolidation with- i r• the Bank's prior written consent of any caporals Obligor; Icl tM tiling of a petition in bankruptcy a the sdjudiution of insolvency a bsnkruptcy under ,~r reesganrration, arrangement, rrnd~ustment of debt, dissolution, liquidation a similar procssdirtg under any Federal a seats statists, by or against any ~ ~ r9pr; Idl an application fa tM appointment of a receiver tor, es tM makirp•ot a generN sstigrtrnntt /es the benefit Of creditors by, any Obligor; Isl tM entry r lodgment against any Obligor; (If tM issuing of any attschment a garnithrrtent, a tM tiling of say lien, spsiMt arty property of any Obligor; Igl tM tskrrg of ..session of rr?y subsuntisl part of tM property of any Obligor at tM irtstartcs of say govsrnrrtsntsl suthority; Ihl tM determination by tM 8snk tMt s rltatNi- .dverse cltartge hss occurred in tM financial condition of any Obligor from tM conditions set forth in tM most recent financial satemertt of such OWigtx etolas turnishsd to tM Bank, a from the condition of such Oblgor as Mrstotess most rsantly disclosed to tM Bank, es that say ws+ranty, rprMenntion, ,•r trlrcats a statement of any Obliges (wMtMr Contained in Mis Nots a not) psrtsining to a in tonneetion with this Non a the loan widtrresd by this Notes ,r,tarflt an untrue sutement of mntNial fact a omits to stare rrtatsrial tart rrettssery in order to tusks tM sntements made not misleading; or, lit tM aMign- rxnt by say Mskar of any equity in say of tM Collateral without tM pries rwittsn consent of tM Bank. The Bank shall hays, but shall not W limited to, tM tollowirq rights, estli of which may be sxsrciNd at arty tins wMther a not this Note a dw: /il to r~ a trertster the Nots and tM Cdlatstal nrd tM Bank Ntall tMreupon bs rNievsd of all duties and responsibilities Mrwnder sad rNievsd from any and all . d,rl~ty with respect to any Collateral so pledged Or tratttfsrrsd, and any pledgee a trartt/srN shall to all purposes stand in tM place of tM Bank ftersuttdM and ,.,ve ail tM rights of tM Bank hsrwndsr; (ii) to lrarttfsr tM whoN a any part of tM Collstaal into tM reams of ittNt es its nontirtas; liiil to voM tM Collateral; •rr to notify tM Obligors of any Colbteral ,~symsnt to Me Bank of any smottnts dw a to betorrN dw tltsrpn; Iv) to demand, sees for, oolMct, a ,rake say COmpromisf a t t. tt. do irabN with ntarsnp to tM CollatsrN; and (vi) to tsks possession or control of say proasds of Collateral. NOTICE: SEE OTHER SIDE fOR IMPORTANT INFORMATION 8~~ P~E ~ ' ~ k5 752 per- 7/77 1 ,