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Consume~ Loan Note and Secucity Agreement ~ ;` ~= =•~ - ~ ~' ,` _ k
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Southeast _Fir~ NaCionil Rank ef $t.Pierce '` '_~' ~ F~~.
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Th3 words l, ms a~d my mean the borrower and snywne else who signs; 'ihe words yar and your rels- to tne yautdesst dank
show~ above. ' . .
Borrowe~'s NameJack A. b Mary C. Mecca ' Address 2022 Alamaada, Pt. St.Lucie, Fa Datel114/81
Th~s is the agreement that covers my loan with you I understand that anyone who signs this agreement wdl be legally re5ponsible
(together and ind~vidually) (or repayi~g the tot8) amount owed. unless they are only s+gning to give you a valid security inte~sst.
Promise to psy. To repa my loan. I promise to pay you the total ot payments shown ~n Item 11 below ~n ~2Q mo~thly
15
b
~
al
$~
~nstalments of S 969• ,
.
. 19
~nd will
each. 1'll begin making payments on Fe
conunue to pay on the same day each month unt~l the loan is paid in full. 1'll make payments in perso~ o~ by mail at the olfice
.
you spec~ty. ,
Here's a breakdown ot my loan : Prope-ty Insurance. 1 w~11 keep the property secu~ing this ban
t Amount 1 received . S 60 ~ OOQ. 00 ~nsured aga~nst loss or damage 1 unde~stand that 1 may purchase th~s
2 Appra~sal iee S~18 ~nsurance through you. ~n which case the cost and term w~ll sppear i~
(For Real Estate Loans only) • the toan breakdown (8 A de 8l. or (rom anyone else I clwose. Eithe~
'
ll make ihe pol~cy payabte to you.
way. 1
3 Record~ng fee ... . S~18 I(1 don't keep -t ~nsured or pay prem~ums on time, you tan pay them
4 Optronal tred~t Ide • tw me or Cantel the pohcy and get iusurance 6lsewhere. It you do
~nsurance .. ... .... S-n8 purchase such ~nsurance elsewhere. you can select insu-ante which
5 Opcio~al cred~c d~sab~l+ty protects only your interest m the collateral w wh~ch protects my
interest anci your ~nte-est. and in either case 1 will pay (or any
~nsurance ..._. .. S-1~ ' premwms you advance w~th ~nterest computed at an ANNUAL
6 Stamp tax ..... . ... S 9~15 PERCENTAGE RATE ot 18%.
7 Other cha~ges fexpla~n)
S _~a
$ Prppg~~y IfISUfaf1C@ (show pem~um ~f hnantetl tA~ouqh t~nkl
A Flood ~nsurance . S -t1~ -
tor ' months.
B Phys~cal damage
~nsurance . . . . . . . . S -.n,e
for months
9 Amou~t tmanced (1 thru 8) $ 60. 090.15
~0 FINANCE CHARGE .... ......... .g56,295.45
made up ot: •
A. Interest . . . . . . . . . . . . . . . $ 56 , 245. 45
B. Prepaid 50.00
FINANCE CHARGE~g IProcessin Feel
! i Total of payments (9+ 10) . . . . . . . . . ~ 116 , 385. ~0
ANNUAL PERCENTAGE RATE ...... 15.01 g6
N OTE: Items 2 through 8 above are expensas the 8ank must pay to
third parties.
Credit Insurance. I understaRd that 1 don't have to take out cred~t 1~(e
~nsurance or credit d~sab~l~ry insurance to pual~fy for th~s loan But ~f I
want. 1 can purchase this insurance through you. purchase ~t trom
someone else 1 choose. or ass~gn an ex~st~ng pol~cy 1 want the
~nsu~ance checked below (or the term of th~s toan.
D Credit li(e insurancs on Bonower's life alone at tha cost shown in
item 4. (Maximum sllowable term is 10 years).
G Credit disability insurance on Borrower (first namsd below) at ths
cost shown in item 5. (Maximum allowable term is 5 yearsl.
^ Joint credit lite inwrar~ce on Bwrower and Co-Borrower's life st
the cost shown in item 4.
8 o r rowei s
S~gnature
ldatel
Right to prspay losn. 1 can prepay the entirs bslancs of my losn at
any time. If I do. you will refund a portion of the FINANCE
CHARGE figured by the sum-of-the-digits method Is oommonly
used (ormula (or figuring reiunds on instelment los~1. But you won't
refund any part of the processing feq (item 108).
Late paymsnts. It I haven t paid an instalment within 10 days o1 the~
date iYs due. I'll paY a late charge equaF to Q% ot tAe avsrdua
instatment. but not more than S5. 7his cherge will not spplr to loans
over 550.000.
Collectio~ costs. 1'fl pay any collection costs, includ~ng ~easonable
attorney's fees. ~f you take collection action. _
Entire balance due. If I don't pay an instalment on time a if I bresk
one oi my promises under th~s agreement. you can require me to psy
the e~a~e balance ot my loan lless the retund of ~INANCE
CHARGE to wh~ch•I would be entitled in the eveot ot prepayment)
at once w~thout notifying me in advance. You can also do tbis ii 1:
m~ss a payment on another debt I owe you: made misleadmg
stateme~ts o~ my applicatson: become.invdved in bankruptc~r or
~nsolvency proceed~ngs: or die '
Security. To protect you if I ta~l to repay this ban. 1g~ e rou ss
collaceral a'"secur~ty +nterest" under the Flonda Unifwm Commercial
Code ~n the tollow~ng property along with any replaCeme~t parts.
add~t~ons or equipment attached to it which 1 own, plus any proceeds.
return premi~ms and rebates f~om any credit insur8nce w inwrance
on the property securing this loan. l also understend that this loan witil
be secured only by the callateral described below regardless ot any
security provis~a+s that may appear in other bans I msy h~re with
Y~~ . ~
Lot 3, Dlock 135 of South Pt. St.Iud e0ait 8
a subdivision accordiag to the Pl~tt thereof i
recorded in Plat Book 14 paste ~6 of the Publi~
aecorda of SL.Lucie County, Florida. ~
co- B orrower's
S~gnature
. - Idatel - • ' ,
Real Prop~rt~r. O(if checked here) 1 am g~ving you a separate
!Cross out one) { M~9a~ ' ~
Agreement Not to Encumber w Transfer Property
to secu~e this loan on ptoperty Io~:sted at: -
(Add-~ss d enwmbend propatY)
You have already given me the required Notice of Right of Rescissw+~.
t understand this means I have three 13) business days to change my
m~nd and cancel this IoAn. 1 understsnd t!-et you w~H Siert charging
me ~nteiest on 1S •
A dditional ay~NmNres and provisions on rwMS~ aid~. I have resd
;he add~tional sgreements and provisions on the reverse side ot this
ag~eemes+t and I understand and agres to them.
+ ~
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i] fi ih~s box ~s cheCked. is signing tlws s~reem~M on11/
to g-ve Yai a vat~d seeu~ity interast and will have no personel bgal rosponsd~iHty on tha ban. '
' understa~d that this 8greement. snd it checked above, s doCUment enCUmbering real property, contsin sll the te-ms
:,nd conditions covering my loan. If any part of either of them is unenforcesWs, the remaining pans will remsin vslid- ~'ve
: ead j agreement and acknowledge that a fully completed copy of it was fumished to me ~ betore 1 sqned it• -
~ tseall
Jack A. • ~~g~~y~ PAGE e~l ~~ . .~ M~ecca ~: ~ , , ,f . ~ ,.,.. _, ,
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