HomeMy WebLinkAbout1085 s ,Southeast Bank Consumer Loan Note and Security Agreement
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Suutheast - First frstinnal Bank of Fort Pierce .Fla.
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he words rase and my mean the borrower and anyone else who signs. he words you and your re er to the outhsast ank
~huwn above.
aorrowar's Name George and Erika P@gkham Address 6411 So. Indian River Dr. Ft, P, oats 9/2318
Tn,s ~s the agreement that covers my loan with you. I understand that anyone who signs thrs agreement well be legally responsible
ito~ether and individually) for repaying the total amount owed. unless they are only signing to give you a valid security interest.
?romisu to psy. To raur?y my loan, i ,uomrse to pdy you the total of payments shown ui item 1 1 bziow rn murrthly
~::ytatments of S._..~55 4~_ each I'll beyln makrny payments on D~tOher 23 . 19~80~.-and will
.:,;n?rnue to pay on the same day each month until the loan is paid in full I'll make payments in person or by mail at- the office
:•ou specify.
here's a breakdown of my loan: Property Insurance. 1 wilt keep the property securing this loan
Amount I rrce+vaci $ _ 22 ~000~ 00 ,assured aya,nst loss or damaye 1 understand that 1 may purchase this
2 Appraisal tee S _ (~a insurance through you. rn whrch case the cost and term will appear in
!For Real Estate Loans only) the loan breakdown 18 A b 8i. or from anyone else 1 choose Either
way. 1'tl make the policy payable to you
3 Recording fee S --~J~ I(t don't ksep [t insured or pay prem,ums on trine. you can pay them
4 Optional-credit Irfe for me o? cancel the policy and get rnsurance elsewhere If you do
,assurance S 1' 5011 ~ 00 pu:chase such rnwrance elsewhere. you can select rnsurer?ce wMCh
5 Optional credit disability protects only your interest in the collateral or whrch protects mY
,assurance _ S n~a interest and your interest. and m either case I wdl pay for any
prgmruins you advance with interest computed at an ANNUAL
6 Stamp tax - S ~5 do PERCENTAGE RATE of t8'N.
7 Other charges (explain) J
Right to prepay loan. I can prepay the entire balance of my ban at
S -II~a any time If 1 dp. you will refund a portion of the FINANCE
8 Property Insurane@rtnowpremwrmd hna+rteA tMgnrrr harrkl CHARGE irgurad by the sum-of-the-digits method la commonly
A Flood rnsurance S n/d used formula for figuring refunds on instalment loans!. but you won t
for months refund any part of the processing fee (item 1081.
B Physical damage
rnsurance $ n/r3 Late payments. If l haven't paid an instalment within 10 days of the
for months date it's due. I'll pay a late charge equal to 6% of the ovenfue
9 !,mount financed (t thru 81 $ 23, 535.40 instalment. but not more than S5. This charge will not appN to bans
t0 FINANCE CHARGE S ~f1,315 f>n over Sf30,oo0.
made up of:
A. Interest _ .5.20 265 CO Collection costs. I'll pay any collection costs, including reasonable
B Prepaid ~ ~ attorney's fees. ii you take collection action
FINANCE CHARGE-•S -•G~- IProcessing Feel _
t Total of payments 19+ 101 S Q~ 8Sn 4n
Entire balance due. It 1 don't pay an instalment on trine Or ii I break
ANNUAL PERCENTAGE RATE 14.QD 96 -one of my promises under this agreement. you can require me to pay
NOTE: Items 2 through 8 above are expenses the Bank must pay to ilia enure balance of my loan (less the refund of FINANCE
~ third parties. CHARGE to whrch 1 would be entitled m the event of prepayment)
at once without notrfyrrig me rn advance You can also do this rf I:
Credit Insurance. 1 understand that I don't have to take out credit Irfe miss a payment on another debt I owe you. made misleading
.assurance or credit disabdrty insurance to qualify for this loan But rf 1 sratemeasts on my application. become involved rn bankruptcy Or
tirant. I can purchase this rnsurance through you- purchase it from insolvency proceedings. or die
someone else I choose. or assign an existing policy I want the
~nsvrance checked below for the term of this loan. Security. To protect you if 1 fad to repay this loan. I give you as
~xCrr:dit Irfe insurance on Borrower's life alone at the cost shown in collateral a "securrty interest" under the Florida Uniform Commercial
~ item 4. (;;Mffaximum all wablenterm is 10 years!. Code rn the following property along with any replacement parts.
G Credit ~S~Wp1it~~~ira~208n0eo
tower (First named bebwl at the additions or equipment attached to rt whrch I own. plus any proceeds.
cost shown in item 5 (Maximum allowable term is 5 years!. return premiums and rebates from any credit insurance or rnsurance
on the property securing this loan 1 also understand chat this loan will
C Joint credit Irfe insurance on w rid Co-Borrower's fife at be seciired only by the collateral described below regardless of any
the cost shown ~n - m 4. securrty provisions that may appear rn other loans t may have with
9orrower's ~ You
s,gr,ature ~ _ 23 80
eorge eck am Idatel Second Mortgage-Description on reverse side.
Co-Borrower's
S+gnature ~ ~
(date) ~
- s
Real Property. O (rf checked here) 1 am giving you a separate ~ i
~C~oss out one! {Mortgage
Agreement Not to Encumber or Transfer Property
ro secure this loan on property lo+,ated at N
a+
n
~ i
IAddrns5 ur enCUmirerld prOp~rrY) C ?
You have already given me the required Notice of Right of Rescission o
i :.nrfPrstand this means I have three 131 business days to change my g
and Canr_el thr5 loan 1 understand that you will start charging p
m
interest on 19 ~ p ~
Ilddrtionaf agreements and provisions on reverse side. 1 have read !r
r^:~ additional agreements and provisions on the reverse side of this
a.~reement and I understand and agree to them. a
t
if this box rs checked. rs srgrnng this agreement only ,
to g+ve you a valid security interest and wdl have no personal legal responsrbrhty on the loan.
I r>r~derstand that this agreement. and if checked above, a document encumbering real property. contain all the terms
and conditions coup trig my loa If any part of either of them is unenforceable. the remaining parts will remain vabd. I've
r9ad this a nt an c ledge that a fully completed copy of it was furnished to me before 1 signed it. r
cc~~~ ` QQ .
- seal) ~Cht~ ti ~ (seal)
eorge a am P~ ~ ri ca ec am
Isea11 ;Fan
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