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HomeMy WebLinkAbout1444 i~~~ , ,v~.,~~ SIMPLE tNTEREST PROMISSORY NOTE PROPERTY RELATED S_ 19,823.76 _ January 18 ~g 90 For value received, ihe undersigned (whether one or more hereinafter called "Maker"), jointty and severally, promises to pay to the order _ SunBank Treasure Coast hational Association (which, togetherwith (NAME .7F BANK? subsequent holders o( this note, are relerred to as "Bank") at its oHice at Ft . Pie rce Florida, the principal sum ot Nineteen thousand eiQht hundred twentv three and 76/10~~lars (S 19,823. 76 ~ with interesi trom the date hereof at the rate of 12. 00 % per annum on the ful! amount of said principal sum remaining irom time to time unpaid, paysble in 120 monthly installments of a 284.41 each on the 17th day of each successive month commencing on February 17 ,~g 90 , The Maker promises to pay late charges not to exceed 5~'0 0( the amount oi any payment or payments in de(ault. All payments made hereunder shall be credited first to interest and law(ul charges then accrued and the remainer to principal. Maker has the right to prepay ihis note, in whole or in part, without penalty at any time upon the payment of accrued and past due interest and charges to date of prepayment plus a service (ee in the amount of the lesser of ~50.00 or 2 percent ot the principal amount ol this loan (Amount Financed), provided, however, that any partial prepayment a( principal shall be applied to the installment or installmenls oi principal last maturing hereunder. The amounts re(erred to above have been computed upon the assumption that atl installment payments will be mede on the respective scheduled due daies. Interest accrues on the unpaid outstanding principal balance. li any installment is not paid in full on Ihe due date, 1~Aaker will be obligated to pay such additional amounls as may become payabte by reason oi the continuing accrual of interest at the rate designated above. Any resulting charges accruing on account ot lailure to make timely payment on the due dates will cause increases in some of the amounts designated above. Any instaltme~t payment made prior to any due date or dates, or any prepayment, may cause decreases in some of the amounts designated above for ihe reason that the unpaid outstanding principal ~I balance will De reduced and the interest rate designated above is applied to such reduced outstanding balance to determine the amount of interest that is due. i If Bank deems itself insecu~e, or upon the happening of arry ot the following events, each oi which shal! constitute a default hereunder, a!I liabilities of each Maker to Bank shatl thereupon or thereafter, at the option ot Bank, without notice or demand, become due and payable: (a) (ailure ot any Obligor (which term shall mean and include each Maker, endorser, surety and guarantor ot this note) to perform any provision ol any securiry agreement or mortgage securing the repayment hereof, to pay interest hereon when due, or to pay any other liability whatso~ver to Bank when due; (b) the d2ath of any Obligor; (c) the filing oi sny petition under the Bankrupicy Code, or any similar federal or state siatut~ tsy or aga~nc~ a~y ~~~Ql; (d) an applicat~on tor !he appcrntment of a receiver ~ or the making of a general assignment tor the benefit of creditors by, or the insolvency o(, any Obligor; (e) the entry oi a judgment against any Obligor; (t) the issuing oi any writ ot ariachment or writ oi garnishment, or the filing oi any lien, against any property ot any Obligor; (g) the taking of possession of any substantial part of the property oi any Obligor at the insiance of any governmental authority; (h) ihe dissolution, merger, consolidation or reorganization ot any Obligor; or (i) the assignment by any Maker of any equity in the real property which is security for this note, except as is permitted under the terms oi the mortgage, without the prior written consenl of Sank. In addition to the mortgage securing this ioan, Maker hereby grants to Bank a security interest in all property ot Maker now or at any time hereafter in the possession ot Bank in any capacity whatsoever, including but not limited to, any ba~ance or share of any deposit, trust, or agent account, as security tor the payment of this ~ote, and a similar lien upon and security interest in all such ~roperty ol each Maker as securiry for the payment of all other liabilities of each Maker tQ Bank (including all liabilities of each Maker). The Obligers, jointly and severally, promise and agree to pay all costs and expenses o( coilection end reasonable attorneys' fees, whether incurred in connection with col{ection, trial, appeal or otherwise. Presentment, demand, protsst, notice of dishonor, and extension of time without notice are hereby waived by each and every Obiigor. ~ - Maker acknow~edges receipt of a completed copy o( this note and morigage on the above date. NOTICE TO COSIGNER: You are being asked to guarantee this debt. Think caretully before you do. Ii the borrower doesn't pay the debt, you witl have to. Be sure you can aHord to pay ii you have to and that you ~ want to accept this responsibility. ~ You may have to pay up to ihe full amount o1 the debt if ihe borrower does not pay. You may also have to pay late fees or coliection costs, which increase this amount. ~ The Bank can collect this debt irom you withoui (irst trying to collect irom the borrowec The Bank can use the same collection methods against you that can be used aga+nst the borrower, such as suing you, garnishing ~ your wages, etc. If this debt is ever in detault, that faci may ibecome a part oi your credit record. ~ € This notice is not the contract ihat makes you liable (or the debt. i ~ ` ~QQ1~ve . D ~ ADDRESS SI NAT Jo olly Ft. Pierce, Fla. 34947 ? ADDRESS SfGNATURE tty L Jolly Doc. Stamps in the amount of $29.85 affixed to mortgage. ± 50M and under - nonbai~oon. i '90 JAN 30 P' :23 ~ sT~,T~~ `t~=~~ , 10223?1 8~ DOC~~lNENTARY . , STI,M_,:,' , ' n~n!Ltt: ~•~/t; t,. ~ '--v' .~c RE`/c!'?;ji : ;~f~.~-_ke ~ 'JU~JG~ ~~~~v~1 _ - ~ = ~~a,•~~~•~4:. ? C ~ ; {_I};,. ..,~:iNi'• , . - .~-s ; - - - - ~ i 675 P~f144~ (1f71(',ItJ/11_ - F3ank Cnpy YFI_LOW - Cuslnmer ~!r;~ . F~~ ~ ~ . P.