HomeMy WebLinkAbout0999 i
REYOLVIN6 lOAM AGREEMENT
. ~
DEFINITION OF TERMS AND CONDITIONS (continued)
You understand and agree that the tonditions under wh~ch the Account will exist are as follows:
~ CREATION OF ACCOUNT: The Account we set up w~ll be idenUhed by the Account Number shown on the other side and cannot have an unpaid pr~ncipal balance greater than the
~ red~t l~ne. We canr.ot make future adrances greater than the Credit Une. Both the Imt~al Advance shown on the ether s~de and any luture advances hill be made under the prov~s~ons
the Flor+da Interest and Usury Act. ~ ' _
2 EXPIRATION OF ACCOUNT: We haue the nght, at the end of 10 years trom the Date of Agreem~nt shown on the other side to cancel this Account and reqwre that you pay the
Unpz~6 Balance, pius accrued ~nterest. ~n full As an alternat!ve 1o pay~ne~t ~n futl o! the Unpa!d Balance, we have the option to offer you the right to reappiy for a new Atcount and to
s sr a new Agreement.
~ SECURITY: You w~ll be r2qwred to s~gn a Mortgage on real p~operty as secunty for the totai of ihe In~6al Advance and a1! future advances up to the CreG~t L~ne. No In~Ual Advance
~I ~ be less than $SOOO.OO. We waive the homestead exempt~on appiicaDie to the prcperty covered by the Mortgage to the extent permitted by law. We also waive any other seCUnty
~~crest or lien which may anse by operat~on of IaN, excepi the hen ot any ~udgment whic~ may be obtained i{ the loan is not paid in accordance with the Agreement.
~ CASH ADVANCES: You can obtain the rema~n~ng amount of ihe ~redi~'Lide afEer~ak~ng the Inrt!al Advance by the use of the checks wz gire to you. These checks are blank. You
;;;ree not to Cash any check for an amount more than the unused port~o~ of your line ot C[ed~t at the t~me a check is cashed The amount oi any check w~ll be added to the Unpaid
Ba!ance on the date the check is cas~ed.
~ PLAN PARTICIPATION FEE: You agree to pay an ~n~,~a~ fee fur part~apat~ng ~n the ievolv~ng ;oan program NhQn the account is f~rst opened ~n ihe Amount shown on line No. 2 on the
:!~~er side o! the Agreement and an Annual Fee ot $5.~~ upon demand by us to you
h PRQMISE TO PA~: You promise to pay us the amount ut the Unpaid Balance, together witn the Fit18t1C@ CI18fg@ and any appGcable msurance costs and prem,ums. These
~~^ounts wdi be pa~d in monthlp payments plus monthly paymeats ot imurance costs and premiums computed as descnbed on the other s~de of this Agreement
MONTHI~ PA~MENT: You h~i; pay us an ameunt not lesithar the M~n~mum Payment on or before the Due Date shoNn on ihe monthly Statement oi Account as "Payment Due on or
e Amounts shown as Past Due on a Statement ot Account ara due upon r2reip± of a Statement. Payment of Past Due amounts may not be delayed untii?he Due Date. A Minimum
^~ent must be pa~d every murth the account ~s opened and has a ba~ance tiYe may refuse to accept an amount less than the M~n~mum Payment due ~
DELINQUENC~ CHARGE: It yeu do not pay the Scheduled W!ont~ly Payrr:ent sho~n on your Statement ot Accourt n~~h~n lU days of the Due Date shown on the Statement. ~ne ~~II i
;~:e you a De:inquenCy Charge of 5`s ot the amour.t of the Sc~eduled Monthiy Payment or $2~.~~. +~n;che~er is less .A ~.1:n~mum Payment must be Da~d every mo~th tY~e account ~s ~
and has a bzlarce Ih'e may refuse ic accep? an arnoun: less than the M~mm~m Payment Due.
FINANCE CHARGE: The Flfla(iC@ Chatg@ be ca!cu'ated on the Average Da~ly Ba!ance at the ~a~ly Penodi~ Rate shown on the other side hom the Statemen; C~os~ng Date untd
.~rt maae Finanee Charge be caicuiated o~i t~e e~;ua! r~umber of day~ in !he b~i~~ng penod n!th ~nterest er any cash advance frorr. the date a check is cashed interest
:;?d up to ~he Due Date be ~.~~nn as 1^e Finanee Charge o~ the Sta'emer:t!or ;he ne~t D:!!~ng cycle A payment +~ili be posteG zn~ co~~•~ered to have Geer made when it is
by u; To ca,:_uiate the F~~ance Charge you must Twrpiy the Da~tp Per,r,~,c Rate bp ?he n~~mber o±days ~n t^,e b~!ling cyc~e and mu!t~ply ihat amount by the Average Da~!y
-~:e tne Finance Charge sub~ect to change by nohce as descnbed ~n parzg;aph i9 belo+~
APPUCATION OF PAYMENTS We aapiy your paymentsto cover (a?ine menthly hfe!nsurarce costs. ~f anq (b; the Morthiy ProGerty Insurar:ce costs, ~t any. {c) the Ft112(1C@
Charge as or cne sc3t~me,,c c!o~,ng Date ard id; ?he baiance ti~ pnrc~pa~
PREPAYMENT ^~ay pay ~e Un~a~d Ba ani? ~r: fu:~. cr morr tnan the M:r mum Payr*men? due at any t~rie e~t~out peoal,y B~ tlo~n~ se. you ~n~I~ reuu~r ~hz Finance Charge to
:;3~.v TOpdV.10U d~_Jii~'.~~~'.!10V'%'u~iU3y1~PUf1~3i~Bd'df1CPd^dd113CCfUPdChdfr~'85.if1i~U~if~~~fllrtCS!d(i~lf]iUfa~Cc' Interrc;M1~ipPChdf~e~d~LC'~~~~~:?CIP~'tJ~(Oth~4d2POf
, ,-zrt
. . ~ ^ ' ~J iears }r~m th2 ud'r 01 ~ ~ a ~
PREPAY6IENT PENALTI': It c~u~e 'r.,, et~uurt n~tn `ur.d~ ob;e~ned frc~.. arolher ferd2r n~,nin ?n~ Agreemeni. (hen yeu c~' r,~. pati a preCeym,
. J~ 6'^[!lih~ Y.t~,a~a ~^drs~ .,i,',e't~t ~_.~.n5 •~r y- _:~~C '~1P r.her in ettec' 0~ yGU~ aCC0U~1? d~ly'~~~ !0'he Unpai~ ad,3t'.CE d1 tf•.t' i!T~ 0} GfP~ey!T'ri,t
s DEFAUIT: Vou n~~l oe ~-n ~e`aul! ~t
~ . ti0u ~d~i •;p ~dhP i~-ft~~!T1Ufi PdrfT'B~i'.llie Of 2tly ~2f( Of dfi'f M~!1;R1U~T1 Pdj~fii2~i 0! y0ll (d~~ :0 CGfR~!y .tii'h ihr' 'rlR~; pf (h~ ~~Of•,~3t',E? `_-?CUfif1,5 i±~2.fc'rmr^,'. nr
~ any ~ta?r~!ent ~~ade bv .ou ~n mak~ng app;~cabon for th~s Acceunt prore~ to be ur:true. or
~ '~e rwse o! any other burttl~ng on tne ~eal property se~urmg ?h~s Agreemer,t ~5 destroyed by f;re Gr ot^er cawa~ty. or
~ ,ou f~!o an app'~ca?:~n rer ~ne appc~ntment c` ~~ece ~e~ or an attachm?nt ;s~aed or a ~uddm2.r,t is en,rred ~.r any other legai ~r equ~iaC e D~ocee~ r`k> are _'.a~:e~ ~sa~n;t
,^uU. U!
~ _ ~~JU mdke dr 3~S~knment fOt ?he berehi Of ued~tor5 nr
,~u become ~nsoivent 0' yeu break any of the term: 01',~t5 ~SfFPfTleflt
~n G~tault +~2 maq. ~t our ept~e~ de: ~ease or end the cred~t z•+a~iaeie to you bv rrduang yeur Cred;t l~ne n:!hout not,c? or demantl!o yeu and requ~re you pa, Urpa~~ Eaiarce
~~~pd~d Finance Charge immed~ately iNe can a~so beb~n torocio~ure proceed~ngs and s?il tre reai p!ope;ty secur~ng th~s Agre?ment
~ CIOSING OF ACCOUNT BY US: ~'~e h~.e rhe r.Rrt ;c ;!ose tn,s a:coun! ~r. the evznt at a) your aetauit. as de`~reo abo~e. b) vcu. becauseot a change ~n yuur ered~; h„t0~y. tinarC~a~
~:~n or for seme ether reasen are. ~n our ;udgmen' n~, r~:~,er a^ aiirp:abie cred~t nsk. cf t^~i Accc~nt rer?~a~ns open "tor 1~ yearc from the Date of Agreemen' or d) due to cnanges
m+t COf' i~; 'vGC ~r6iS;dt~Of! ~e O;,t J~:r~~On, d~ ~'_"br' d~J,F ±n ~C~' "~e ",'~S dCCUuf12 ~~OhLE G' C'Oi~~iK 0? yGUf dCCCIi!11 a~ll no? a!fect uur r;;ht; G~ y0~f uuL~dt'Ofl t0 ~EGd'y
~d!d BdId~CP 6~ thF ~~CU~~ty ipt thP A6rfPR P~i ir h,;~'r ~^J! ~CCn„r~! ,~p h li ~p !prlRer hduP f0 S°Ci~ (,h'Ck' f0 )0'J and ~,ou n;~l return ~c o~y unGSeu ~'72CNS :fi y0l~f
~ . _...:0'1 !1 y:U i3': ~U feiU'(1 U"~L•c~{ ~h"r=k} ~t':.e e.r?1P AP ~'CSP /~U.' 3~C:'..^! hP N~~ ?.Jt f~ Cd5? CUI 5?CU!~I) f~PfE':'. ~!1!RP fa~i ~•~~effy. !?,MP('. dS SFCu~i?y fpf (fujrtikfrP!^P(1~ U~t:!
~ ~C+~~ dra rP'~rnPu f0 i.5 C~.',',`'O U ~~a:r? Cdia , ~ rn ~e : , V _ J
~ t!JSING OF ACCOUNT BY 1f0U: r~~~~ r~3y ~'G~e ~_r,' ~~.-r6 3Q ~a>~• ~nr.;t~^ n~t ~ o u~ :;n;:er _'~.icn r '~er~.
iGP ~+CC'vL~i ~35 fEdC~~Ed 3 Zrfi, C•d!o(~_~ ~,`e~P -'j ~~ye-0 ~d'3f~~? ifl irP aCCGJn',) ef~~
_'tere are no usued and outstar„~;ng crecF;
.~~Ih~~ l~d'j5 01 lh? i~dit' t~C;h C::'~!.( Qi~~ dfQ :f1~L !~~edS~ iCr cpCii!~iY !(12"r~E~t ~fl (!le ft'?1 pf0(iPft~ ~QLU~~f"~ 1rIS ~.RiPefPe~t
~ CARE OF THE REAI PROPERTy: '!c,u n~ ep ~he T~or.ga~~~i pr;;perry 5~=0d Urder ar~± r~pa;r n~thout ~aste and ?o keep ~t ~r.sured a;;a!nst f~r? ard otr~er s,m~!ar hazards This
~~nce ~~il ~P ir; the amounts +~e requ~re ani! ~.~?n tne carr~er, Ne hnd to oe sat~s+ac!ery r:th a iess payaD~e to us. as our ~nterest may appear You a!sc proT~se to pay ali taxes and
~ ~>me~.ts Charged agamst th2 proCer!; nhrr Ge ,rr p~-r z t,~, are ~~argeu a~:"o pay n~en dur a i pr o~ er.d ~?n :r : em anC :ab.l~t es If you ia~l to p2rforr; any of the aGove
' n.thin 1 ~ days af?er th?; are Gue t~en nc mz~ a? cor apt,cn, perf~rm ,nese Qut.es oi cauie them to be pertormed en your behalf 'rie may charge any amo~ints spent by us to
~ ~~cou~t and these amu:;~:?, n~;l beceme ~ F,:~~ ?re u~p~~d Bz ancr r.:th :r~erest Ge~rg iharge0 a? ih? Ca~i;+ P?;;ud~c Rate d,~cio~etl on the ctner ;~de of th~c_ Agreement
~ ATTORNE~'S fEES: We r~r crarge ar~tl co ~e i reasura~ie aucreei s fee` and court cost~. a~ perc. ,:ed by ~an. 3fter declarat~or of ~e'ault. ;h~s Agr~ement ~s referreC to an
~ ~y r~ot cur employee fo~ ;he ~urpose of s a~' °F ~ega~ act;:~ znd er!c _ r~ cc!;ect~cn We may a'sc reco~Fr reasonab!e expenses ~ncurred in ~ece~enr.g or sell~ng any co,latera!
as secunty br th~s loan
= DISHONORED CNECK CHARGES: We may cet~ect f rcm ycu a tee cf 5_ of (ne amcurt of a check or $10.00. ~h~chever!s greater. ~f yeu ~ssue a check to us tr~at+s returned to us by
~`^arua! irstitution on nhich ~t is drann as d~snnr:e!ed' ard ne nctify ,ou. ~n ,nrthng rhat the chetk nas been returned
~ CHANGE IN TERMS: We may change the!err; ard corC~t,ons o! ;n~s Akreerent ~nciud~ng rates, terms ard amo~t~zat~on sched;,le as permrtted by !a~+ Yie n~ll send you ~ntten
~ ' _e betore any change occurs
APPUCABIE LAW: The terms ard coad~,~e.ns of ih~s ASreemer.t n~t? be covFred by the !ar~s of the State o' Fi~nda The Part~es agree tr:at upo~ acceptan~e of the terms of th~s
_ .-^ant by a bifid~ng agre?ment. u^,der t~P !Ftf'1~ e~~ lOf~i~~~,0!15 S}.10A^ duD~~E e!'.~ G~ ~~'~P ~EVQ~52 S~~e. htll come into e!fect
Yo~ ac~no~n.e~ke rec~~pt ot a copy o' Revo':uing loan pgreem?nt prior to any mo^ey b~ing advanced by us
~ -:~~d ey ~e~oer ~ ~3 Peter A. 3ordonali
~'i:ina~s--- -
S;gr,ature o~ Boirowe~
: - r~~~~e~ - /a~ Sandra G. Bordon3li
lr3r.da?. $,gnature o~ Eo~,~~rer -
~ A~
Bfl'Ti{ `~3[.) P~Gf
~
~
~
~ : - ¢ ~
" -j~`~ ~