HomeMy WebLinkAbout0295 . SIMPLE INTEREST
E~~ PROMISSORY NOTE
PROPERTY REi.ATED
BALLOON
~ 33,086.07 January 26 » 90
For value received, the undersiyne~i (whether one or more here+natter called "Maker' jo~nUy and severalty, p~oinises to {~~+y to
<<,,,,,,~;~,,o~ Sun Bank/Treasure Coast, National Association ~~y~~,ch, together w~th sub-
1Name of Bank)
~~•~~~,F.~~t holde?s of th~s note. are referred to as "Bank") at its oHice at Ft. Pierce , F~~,nr1a,
~!~~~pnncipalsumo! Thirty-Three Tliousand_Eighty-Six & 07I100 _ Dollars ~S 33,086.U7 ~
:•;~t?, interest trom the date hereot at the rate ot 1L50__. °o per annum on the lull amount of said principal sum rema~ni~ig from t~me
t~me unpaid, payabte ~n 59 monthly instaiments ol 3_86~.~0 each on the _ ~5th day ol e~ch
-,u~:cessive monlh commencing on ___Feh. 25 . 19 _ 4Q : together witl~ one paymen? in the amaunt of S
$17__,8_7_8~ 1~__._ ___dueon . Jan._ 25______ , 1g __95..___ provided, ho~vever, that the final paymer.t of the enhre mde-
t!~~; iness evidenced hereby, if not ~coner paid, shall be due and payable on Jan . 25 , ~g _ 95 Ti~e Maker ~~rom-
to pay late charyes not to exceed S°~ of the amount ot any paymeM or payments in default.
All paynients made hereunder shall be credited tirst to interest and law(ul charges then accrued and d~e remainder lo principal
~k~r has the riyht to p?epay this note, in whqle or in part, without Renalty at any time upon the payment o( accrued and p~s1 due
~~•~rest and charges to date of prepaymert plus a service fee in ihe amount oi the less~r oi $SO.OQ or 2 percent ol the prmcipal
-~unt oi this loan (Amount Financed?, provided, however, that any partial prepayment ~i principaf shall be appl~ed ro the instal~nent
~~~st:~lments of principal last maturing hereunder.
The amounts roterred to above have been compuled upon the assuinplion that ~II instalment payments ~vill bP ~n~de on tl~e
~~~~chve sdieduled due da[es. Interest ~ccrues on Ihe unpaid outstandiny ~~rincipnl t~alance. I( any instalineM is not 4~aici in (ull ~n
~t~i~ date, Maker will be obligated tu Nay such additional amounts as may t~econ,e ~»yable by reason of the cvntmuiny ,icaual i,f
~~~~~rest at the rate desiyn~ted above. Any resulting charyes accruing on account of fa~lure to make timety payment on Il~e due ~i~les
~y ~~use increases in some oi the arnounts designated above. Any instalment m~de pnc,r to any due date or dates, or any ~~rfy~:iyn~ent.
:.~!i ~ ausF, clerreases in some oi the amounts des~ynated abc~ve for the reason that tlie unpaid outstandmy princ~pal b~l~n;~e ~~:ill hc~
~~~~fuced and the inter~st rate desiynaled above is applied to such reduced outstanding balance ro determine the amount o~ +ntc~rest
+i,•~t ~s due.
ii iilL iSdilK (1Q~~iii5 il~Bii If1SeClliE. U~ U~>017 iiie napper~~r~g o~ ~fily Vi ifl@ TOiiU~tiilit~ FVSiiiS. @~iCti OT Y{riiic(1 Siiiiii cVI1~iltiii@ Fi iiE'iiiifii
f:~::~under, aIl Iiabi6Ues ot each maker te E3ank shall thereupon or thereatter, at the option ot E3ank, without notice or demai~d, becu~ne
!u~ and payable: ~a? f~iture oi any Obligor ~which term shall mean and include each Maker. endorser, surety and guarantw ~,f lhis
~~~~1 to perform any provision o( any secu{ity agreement or morlgage securiny tl~e repayment hereof, to pay interest hereon wh~n
or to pay any other liabitity whatsoever to Bank when due; (b) the death of any Obliyor, (c) the tiling ef any pelition under thc
f~:,nkrupta C~de, or any similar federal or state statute by or against any Obligor. ~d) an application tor the appu~ntrnent o1 a rece~ver
~!he ma~.iny of a general assiynment (or the benefit ot creditors by, or the insolvency ot, any Obligor; (e) the entry ot a judyn~ent
+-in~nst any Obliy~r. (1; tl~e isstiiny of any writ of atiachmen; or wnf of garnishment, or the filing oi any lien, against any p~operty of
nbliyor, (y) the t~kin~~ o( possession oi any substantial part of the properly r~f <'~ny Ol~ligor ~1 the inst~nce c~f any grn•c~rtun~~~ital
~~~tiumty. (h) the dissc~lu?ion, merger, consolidation or reorganiza6on oi any Obbyor; or the transter ot all or any p~~~t o? th~~ real
:<<~~~erly v~h;ch is security for this note. except as is permitted under the te~ms ~f the ~~~ortyage. without the pri~~r wnlten cons!~nl
;i,~, (3~nk.
!n add~tion to any c~ther collatera! ~~cunng this loan, i( any, ihe Maker iiereby grants to f3ank a securify ~nteresl in all 4~re~4~erty
' ~~ach Maker now ur at any time herea(ter in the possession oi Bank in any capac~ty whatsoever, including, bul not linu~ed to. <~ny
i~;+~ance or sh~re o( any deposit, trust, or agent account, as security for the payrnent of this note, and a simifar lien upun and ;ecu~iry
r,!~~rest m atl such property o( each Maker as security for the payment o! all othe~ habilit~es of each Maker to E3ank (mclud;ne~ all
,,t,~h6es of each Maker).
The Obiigors, jointly and severatly. promise and agree to pay aU cos!s and ex~,enses collection and seasunatdc att~m~eys'
whether ~ncurred in connection wilh collection, trial. appeal or otherwise
Presentment, demand, protest, notice oi dishonor, and extension of time without nohce are hereby waived by eact~ and every Ohhyut
Maker acknowledges receipt of a completed copy of this note and mortgage on the ~bove date.
!h~ maximum interest rate will not exceed 21% or the state ~,~ury ceiling, whichever is less.
NOTICE TO COStGNEH: 1'ou are being asked tu yuara.~tee this debL Think c;~retully befure you cio If the ~
borrower doesn't pay the debt, you will have to. Be sure you can afford to p~y if you have to, anci th:~1 yuu ~
want to accept this responsibiGty. I
You may have to pay up to th2 full amaunt of the debt it the b~rrower <io~s nvt Ezay. You may alsc~ have tv
pay tate fees or collection costs. which increase this amount. ~
II
, I The Bank can collect this debt from you without first trymg to collect frorn the borrower The Bank can use the `
same collect~on methods agamst you that can be used against the borrower. such as suing you. gam~sti~n~ i
~ your wages, etc. ff this debt is ever in detault, lhat iact may beccme a part of your credit record.
! This notice is not the contract that makes you liable for the debt. ~
~ -r ~ - ~
1202 Egert Avenue /1I ~ ~ ~ ^N
- - - ~ry
~,f~r)i~ESS SI~NA7 RE ~~vincent R. G~ m, r.
i Ft. Yierce, F1. 34982
- - ?1_- ' - l~- - -
f~UURESS SIGNAT John M. orha
Doc stamp~ti~~ he amount of $43. 65 af f ixed to mort ,age ~ n~ ~~C ~
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