HomeMy WebLinkAbout15765cwthcasl Bdnk No1e Numbcr __~
ON THIS ___12th. DAV OF _~ebruar~_~- ___ ____ 19_gl_ FOR VALUE R~CEivED. THE UNOERS~GNEO
-~~ ~r~~~aite~ callecl Meke~ w~thout reyard to numbc~ o~ grnder, jo~ntly and severalty PRpMISE TO PAY TO THE ORDER OF
SOUTHEAS? BANK, a Florida Banking corporation, Southern Boulevard eanking Center
~~~•~~•~~~attr~ callyd BANK, 4395 3authern 81vd, West Palm eeach, Florida 33906
'-~E PR:NCiPnI SUM OFNinety.__Thousand dollars__and !10 100-----_-_- _----------
~____--_____ _ - DOILARS
($90,000.00)
F':.YABLE ~ - - --------~ __.___ -___-_. ---- ---- - ~~_.--- -- - -
i~ t~rest the~ron shall accrue trom the date oi tunding, computed on tl~e basis of a 365 day year, at the ANNUAL PERCENTAGE
~;ATE OF __ see variablearate provision on_ reverse _ side hereof~_____ _____ ___ _
4395 Southern Blvd, ~aest Palm Beach, Florida,
-NIEREST SNALL BE PA'1faBLE ___ _
see reverse siae Tiereof + `--~---'- --- -----
Aii payments shall be appl~ed iirst to accrued inte~est and then to principal. Interest wii. ;ccrue at the rate of i/365th ai annua!
~nterest tor each day that prinapal is outsianding, bu1 in no event shall inte-est be due at a rate in excess oi the highest lawful rate.
~ti'~thaut limiting thr generality o~ the toreyoing, and notwithstanding any o~al o. writte~ agreement. no deposit oi tunds shall be
~.~~iuired in connrction N•ith this Ic,an in an amount which will, whe~ deducted irom tt~e principal amount outsiand~ng hereunder~
cause the rate of interest Mereunder to excecd the max~mu~n lawtul rate. .
1} 8~t~• pdymenl i5 n01 rt2d(Ir i~~ 1U11 ~Yh~~n (1uP, the em~re unE~e~d ~,~~nt~pa~ dnd af.t~cird ~n1P/rit, I(•SS AfIY Ut1lillflE(~ ~n1PrPS1 ar~(J e-~)•
+•,t ~rest ~n excess of thr mex~m~~m allowed by la~v and any ~et~etes ~equneci by la~v, shail at the opt~on u~ ihF holde- Leco+~
~:t~~•~rd~atety dur end ~,aYable ~v~tnout r~o1~Ce Fuilwe 10 ~xerC~sr the optior ihall not const~tute a wa~ver ot the wt~s~•uurnt ~~ght 10
+•~•~c~se AFTER ~ATURITY_ INlEREST SHALL ACCRUE ON THE DELINOU~NT PRINCIPAL BALANCE Al THE HIGIiEST
t n~ti'FUL RATE OF ItJlEREST OR, tF NO l~1AXIA,UM RATE IS PRESCRIBED BY LAW, AT 18K PER ANNUM.
As srcunly to~ lhe payment o) Ihis nole, ;f~ut ~ny rene~vd~s, Czt~•ns~ons o~ modit~cations the~eof, and a~~y Other liabil~lii•1 0~ ihe
'.'~~KEK to the BANK, howev~r c~r v:hc~~rve~ created, A'{AKER 6e~eby y~ants to the SANK a security ~nterest ~n-
.. . t`wr ~.• i,;,t ~t~.•r~h~ pr~Yr•t~ ~s o~•sc+~u~a ei•:,vc a~ ...~r ~~r,na~ src u~~:~ fu~ t~~~ i N~mt•nl :,~ t!~~s tvutr ~ny ~rnev.eli eatrns~uns o~ mo:f~/~ce~~ons
.. ~ro', ..rr.: an~ orhY, 1.,,',~In~es ot ARAKER ic. E'ANY., hr.v.,~r. ur ,tih.•n~ver cr~ a~rel, ;'AKE R hrrrl~y plrclgee ~u HANK any and 'att prc,~e•ty ot t.+aKER
,,~r. p+ Ap~pa1~~: [SPUVr~rA t0 •Jr I~N ,n rr. com~~y ~nto ~hr pOSSoSS~OI~, f0/~Ir~1) p• (U37p:1y O• BAfJM,, wbelhe~ e,p~eisly aiCotle~e~a~ iecu•~~y or to~ any
~.~~~r•~pu+pasc (mrl~d~na cash, itoc- anct oihrr d.woendi, ancf au r~ohts ~o eut~x~~be ~o~ secu~~a~es ~nc~dent ~o, decla~ed, o~ g~amed in connecuun w~~h suc~
t>~~~u: ~ty1. antf p~operty d~x~~t~ed m ~oUa~e~a~ ~ece~pis or o~ner dc.cume~+s s~qnrci u~ Iwmshref by ~he F~IAKER, and any anC a~~ rep~acements ot ~ny ot
~ne fo~rgo~ng, wheihe~ o+ no~ ~n ~ne possesz~on o{ Bank AII wcA prope~ty ancf any o~Aer V~o~e+~Y secu~~ng maker's habd~ues to tAe Ba~~k wdl ~e~eatter
be ~e~ened to as "the Collate~al.' Th~ Co~~ate~al ~s a~w p~eogeo as secu~ny 10~ aU o~he~ batnl~~~es (pr,mary, ~~o~da~y, duect, com~nyent, so1e, ~o~nt w
irvr.a~l, due ur ~o trecome Au~ o~ wh~ch may be hr~eat~e~ comracted o~ acyw~ed, ot each Make~ h~c~ud~ng each 6'fa4er and any o~he~ pe~son) to BANK,
~r~e:ne~ svch bab~~~ues ensr m ~hp o~iLna~y couru o~ bus~ness or not R~ght ~s h~rPLy eap~tssly g.anled fo ft~r BANK a~ ~u op~~on to t.ans~e~ at eny t.m!
+c~ ~fsrlt w~o us nom~nee any Colla~e~af, arx3 tp ~ecerve the ~ncome the~eon and ho~d the same as xcu~~ty he~elo~, o~ app~y ~1 ua fhe p•~nc~pa~ ot ~nfe+est
~~~~e nr~so~ o~ due un any I.ah~lny yp~u~ed he~eVy_ T~e BANK may tont~nur ~u hola any pledqed propcny deD~s~ted he~eunAr~ a~1e~ the payment o~ tA~i
nnf~. ~1 a~ lhe bme o~ the payment end distha.ge he~eo! anY o} rhe Par~.es I~eSte fo. ttee paYment f~e~to1 st~a11 ~ Ihen d~~ectly or contmgenUy Latde ~o
~~~c BANK as ma-e~, endo~s~r, sur~~y o~ Oun~anl0~ O~ a~~• OthP~ nO1p, O~d~1, L~1I 01 laCl.engr, u~ othe~ ~nstrument, o~ oi~e~w~se, and the BAhK may t~ut~
.~!~r r•P~c~te tAp r~~n~s v~+tn ~rsvrc~ ~o sa~d p~refyecf p•oper~y o~.<nic•a nr•e~n ev~n ~h~ugn tn~s np~r sha~l heve t~ren s~~~ende+eA to the MAKf R.
tt n i~~nr'Y a~+c? yvee,,av tu.r~...:,rrd or~~ ~y~aed w.:1 Y~ S.inA by ~_o,r. t?AY.ER, rndo.ser, swHV. gvarantor, er~ O1M~ p0r1y 10 th~s nutt la~~ p1
.v~nm w+t' t~r~t~na11P~ 10~ G~rva~ caued Ob~~go~ o~ Ob~~9u~si ~nat
1 Af1d~f~OnS t0, ~C1Cdit'S, lFHuCNOni O~ f~C~~d~l4(S O~, O~ Sii~1T~Iu1~U~11 ~O~ 1~1P CU~~alCfill_ {)dyAlr'11S U~1 dC(()JM OI 1A~S ~UAT' O~ ~nC~C31C30~ Ihp SdT! O~
u~n~. I~n~ mede ParUally O~ wholly u~wn tne Couaiera+. ma~ trom ume ~o ume D~ mM1r w~thput 21~tC1~r~y /hC p~OvK~OnS 01 tAn nOf! Or thB liebd~t~lS 01
any pany ht~eto. Bank sha~l lxe~cist reasonaWe care in tAe custody and presrrva~~on o/ the Colfatera{ and shaN be decmed to have e~ercesed reasonaWe
care ~f ~t takes wch act~on tor tAat pu~pose as Maker shall reasonat~ly rec~uest ~n wnNng, bot no omission to comply w~th any request Ot Make~ shall 01 ~t-
se~~ t~e deemrd s ta~~u~e to e^ercix ~easonaWt care. W~thout hmlung the ge~erality o1 tAe lo~egom~, ihe Ba~k :-,alt have no respuns~b~lity lo. asce~ta~mny
a~y miWnUt3, calls, co.~ve~s~o~s, eachanges, olfe~s, ~ende~s o~ s~mllar matte~s re~aung ~o any oi the CoUate.at,nor tor irtfo.m~nq tht unders~g.~ed w~tA re-
stx~ct to any tAe.eoi_ BANK sha!! not be bound ~o take any i~eDS necessary to p~eservt any nghts ~~ tAe p~edged properry ~,~s~ p„p~ pa~~~es. ~n~1
MAKER shsll take a~~ necessary steps fo. wch purposes BANK o~ its nom~nee ~erd not collec~ inte~es~ on or pr~nc,pa~ ot any pledged prope•ty pr g~~
any no~ice with respect to it.
? Ut~on IAe happen~nq o~ any Ot Ihe to~~uw~ng evrnts, each OI wh.ch s-~a~~ cu~s~~w~e a detauh he.eunde.. o. ~~ ~h~ Cu~laiera~ shall a~ any ~~me brcpme
~~*~saus~xtory to BANK, or d gANK sha~~ ae any t~nw Arem .iu~~ .nsrcwe, a~l 6ab~M~es oi each b~a~e~ iv BANK, whe~nrr o~ ~o~ evaden~pd pr tf,n note,
sha11 thrreupon o. ~herea~ur, at ibe opf~o~ o~ BANK, w~thout nos~ce o+ d~mand, become Aue a~d p:yaMe (at 13~iwe ot any Ob~go~ to pe~lorm anY
~.9~remcnt he~eunder a to psy ~n tu11, when dui. any hab~4ty whatsoeve~ ~o BR.NK o. any ~nsta~~men~ ~ne.rol o~ ~ntlrest It~er~o~. (b1 tht OeatA ol any
Ob~.go., (c1 ~he I~hng of a~v [x~~ho~ undF.r the 8ank~up~C~ Act, or a~y ~~m~lar fede~a~ a state staiute. by o~ agdi~st dny Ob~.go~, (dl a~ apu~~ca~roo tw
t~'~ 3p{.O~nlmint OI 2 recewe. Ip, tbe mak~ng ol a 9e~era~ assg~~~nr~t fp ~hr brn~t~t of creA~tu~s by, o~ ItN mwlvency ot a~y Ob~gor: (e) th! tMry OI a
~~,dg~nent aga~nst any Obt~gor, Itl .the nw~~g o~ aoy anachme~ts or ga~n,inrrKnt. o~ thP f~hng of any I~rn, eoamst enY p'Operty 01 iny OblyOr, (g) tht
~ak.r.y ot posuss~on o~ any wbs~ant~a~ part of the MoPr• ty oi a~y Obhgo, » tne ~ns~ance o~ a~~ goveromrn-a~ aurhonty, Ihl tne d~swtuno~. me.ga,
cu^w~.rfa~~on, or ,ro~gamla+~on o/ any Obi~go~, (J the drterm~r.at~o~ b~ BANK that a~s~~r. ~a~ adve~x cAar~ge Aas occw~rd ~n tne f~na~c.a~ condn~on of
a^r Obhgo~ Irom 1ht tundn.ons Set to+Ih ~~ thr most ~rcem hna~c~a~ s~etrr*r~n~ 01 such Obtgo. nerFiulo.e 1„r.~~sned ~o BANK. o~ 1r~,m tAe cu~A~~•o~. o~
wcA Obiyo~ as Ar~e~olo•r mo's~ ~~ecently d~sc~oird 10 BANK ~n ~ny rr.~nnrr, or Mdl 2~~y rtin~•dnty, rE~U~tSC~fdi~Un_ ~~rf~1.(dt~ O~ s~a~e.nrn~ pf a~~ OW.goa •
Iw-.etAtr conu~ned m this no~e p~ not) {rcr~a•n~ng to or ~n to~~ect~or. wn~ th~s ~~Ott p the loan ~,.~nced Oy th~s nOtr n nui irue. (1) au.gnment by ~oY
!VtAKER o1 any ec~u~~y .n any o1 ~he p~~dyed Cotla~r~a~ w~~nou~ ~1w w.~~~en consem ol BANK, Ikl f.~~ur~ ~o do a~~ ~h~ngs necessa~~ ~o p~eserre~
r.b~n~a~n ~tK va~~t a~A couec~~b~l~t~ of tr~c Cot~au.al, ~~c~ud~~g, bur not ~~m~md to, ths pa~menr o1 ra:es a~.d prem~ums o~ po~.c.es o~ .nw.ance on ~Ae
Aue da~~ w~~Iwut.bFntf~t ot Iht g~act ptr~pd
THE PROVISIONS ON THE REVERSE SIOE ARE A PART OF THIS NOTE. ~
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Addre~d5 North Military Trail ECONO AUTO PAINTING OF WF.ST _lSEAL) '
PALM BEACH, INC., a Florida corporatior.
West Palrn Beach, Florida 33406
~v -.
Edwin R:
Treasurer
(SEAII
watson, a/k/a Edward Watson,
e~'~348 ~~E157S
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