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HomeMy WebLinkAbout1448 ~ SIMPLE INTEREST PROMISSORY NOTE PROPERTY RELATED a 6~ 748. 29 _ ~ .1 nuar~~1 19 _99_-- For valus received, the undersigned (whether one or mere hereinafter catled "Maker"), joinily and sevarally, prom;ses to pay lo the ordar SunBank/Treasure Coast National Association (which, together with (NAME OF BANK) subsequent holders o! this note, are referred to as "6ank") at its oHice at Fr _ Pi errp Florida, the principal sum of Sixty seven hundred fortX eight and 29j100-------------Dollars ($~Z4.8f2g-) with intereSt trom the date hereof at the rate of 11.50 % per annum on the full amount o1 saiti principal sum remaining Irom time to time unpaid, payable in 36 monthly installments ol $ 2 S'~ each on the ~~~?day of each successive month commencing on Feh~ruar,y 21 19_~1L-. The Maker promises to pay late charges not to exceed 596 of the arnount ot any payment or payments in detault. All paymenis made hereunder shall be credited first to interest and lawtul charges then accrued and the remainer lo principat. Maker has the right to prepay this note, in whole or in part, without penalty at any time upon the payment ot accrued and p~st due interest and charges to date oi prepayment plus a service fee in the amount ot the lesser of $50.00 or 2 percenl of the principal amaunt of this ban (Amount Financed), provided, however, that any partial prepayment ol principal sha!! be applied to the installment or installments o( principal last m~turing hereunder. The amounts re(erred io above have been computed upon the assumption that all installment payments will be made on the respective scheduled due dates. lnterest accrues on the unpaid outstanding principal balance. It any instatlment is not paid in tull on the due date, Maker wi11 be ob4igated to pay such additiona! amounts as may become payabie by reason ot the continuing accrual ot interest at the rate designated above. Any resulting charges accruing on account ot taiture to make time4y payment on the due dates will cause increases in some of the amounts designated above. Any installment payment made prior to any due date or dates, or any prepayment, may cause decreases in some ot the amounts designated above (or the reason that the unpaid outstanding principal balance will be ~educed and the interest rate designated above is applied to such reduced outstanding balance to determine the amount ot interest that is due. If Bank deems itseli insecure, or upon the happening of any oi the following events, each ot which shali constitute a de(ault hereunder, all liabilities of each Maker to Bank shall thereupon or thereatter, at the option of Bank, without notice or demand, become due and payable: {a) failure of any Obligor (which term shall mean and inctude each Maker, endorser, surery and guarantor of this note) to perform any provision of any security agreement or mortgage securing the repayment hereof, to pay interest he~eo~ when due, or to pay any other liability whatsoever to Bank when due; (b) the death of any Obligor; (c) the filing oI any petition under the Bankruptcy Code, or any similar federal or state statute by or against any ~bligor; (d) an application for the appointment of a receiver or ihe making oi a general assignment for the benetit of cre~itors by, or the insolvency ot, any Obligor; (e) the entry ot a judgmenl against any Obligor; (Q the issuing ot any writ of attachment or writ ot garnishment, or the filing oi any lien, against any property o! any Obl'~gor; (g) the taking of possession of any substantial part oi the property o( any Obligor at the instance o( any governmental authority; (h) 1he dissolution, merger, consolidation or reorganization of any Obligor; or (i) the assignment by any Maker oi any equity in the real property which is security for this note, except as is permitted under the terms at the mortgage, w+tho~t the prior written consent of Bank. In addition to the mortgage securing this loan, Maker hereby grants to Bank a security interest in all property of Maker now or at any time hereafter in the passession ot Bank in any capacity whatsc~ver, includirsg but not limited to, any balance or share of any deposit, trust, or agent account, as security for the payment of this note, a~d a similar lisn upon and security interest in a1t such k property ot each Maker as security tar the payment oi all other liabiiities of each Maker to Bank (including a!I liabiiities of each Maker). The Obtigors, joinlly and severally, promise and agree to pay alt costs and expenses of collection and reasonable attorneys' ~ fees, wheiher inCUr~ed in connection with collection, trial, appeal or otherwise. 4 Presentment, demand, protest, notice oi dishonor, and extension of time without notice are hereby waived by each and every ' Obligor. I Make~ acknowfedges receipt of a compteted copy of this note and mortgage on the above date. f NOTICE TO COSIGNER: You are being asked to guarantee this debt. Think caretully betore you do. It the ~ borrower doesn't pay the debt, you will have to. Be sure you can afiord to pay ii you have to and that y~u E want to accept this responsibifity. You rnay have to pay up to the (ull amount of the debt if the borrower does not pay. You may also have to ~ pay late tees or cotlection costs, which increase this amount. The Bank can collect this debt irom you without first trying to collect from the borrowe~. The Bank can use the same collection methods against you that can be used against ihe borrower, such as suing you, garnishing your wages, etc. It this debt is ever in default, that fact may become a part ol r~our credit record. This notice is no4 the contract that makes you liable for the debt. ~ 3 f ~ ~ ~ 4801 N.W. Macedo Blvd. t ~ ADDRESS ~ St(; ATU Gary A. Ball ~ j ~ Port st, Lucie, Fla. 34983 ADDRESS SIGNATURE rene K. Ball Doc. Stamps in the amount of ~10.20 affixed to mortgage. 50M and under - nonballoon. '90 JAN 30 P 3~1 B~ S T.~.~ ~ F F Q ~ } ~ ~ : ~ ' ppCU~~,ENiAk'' S7AMP__TAX r 10223? 3 - ~ ~f~' ~i: ~tyE=1 " - . ~ tLt :~:~1'~' ' - = t~' i " ~j ~ ~nUG~ _.axGt+ ~ ` - ~c - .iAN3~i „~!f! 1 _ Ll~i~ ~y~ ~ _ , _ ~ - - t ~ ~ i ORIGINAL • Sank Copy YELLOW • Customer PINK - F~le R~ ~ ~ ~75 ~~E1~4~ a00K : s ~~r._~.