NATIONSBANK ;Simple Interest Fixed Rate
Account Number Note Date
000000000219982460009- --11/27/1998
Borrower Name and Address XXXXXX XXXXXXX
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0000 XX 000 XXX
XXXXX XXXXXXX XX 00000.0000
I promise to pay to the order of NATIONSBANK. N.A.("NationsBank") the principal
amount of $ 75,363.90 ("Amount of Note.'), interest on the unpaid principal
balance and any other charges authorized by this Promissory Note (the
"Outstanding Balance")at a fixed rate of 10.500 % per annum (the "Interest
Rate"). The Amount of Note will be advanced to me and/or to others on my behalf.
Payment(s) will be made in accordance with the Payment Schedule set out in the
Federal Truth in Lending Disclosure.
APR FINANCE CHARGE AMOUNT FINANCED TOTAL 0F PAYMENTS
10.529% $75,343.59 $ 75,263.90 $ 150,607.49
Number of Payments Amount of Payments When Payments are due 179 $836.72 MONTHLY
BEGINNING 01/11/1999
1 $834.61 FINAL PAYMENT DUE 12/11/2013
Security: Goods or property being
purchased. (i) Other 91 FLEETWOOD AMERICAN EAGLE
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You also have the right to apply any deposit or account that I have with you, as
well as any instruments or securities of mine which you hold, toward payment of
any amounts due under this Promissory Note. It I have other loans with you or
take out other loans in the future, collateral securing other loans may also
secure this loan, except that my principal dwelling or household goods will not
secure this loan unless specifically identified as Security above and margin
stock used as collateral for purpo6e credit will not secure this loan, unless
specifically identified as Security above.
Filing/Releasing Fees: $ 0.00
Florida Documentary Stamp Tax: $ 263.90
Florida Intangible Tax $ 0.00
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Late Charges:: If I am more than 10 days late in paying all or part of a
payment, I will be charged a late charge of 5% of the past due payment.
Prepayment: If I pay the loan off early, you will not require me to pay a
penalty.
Assumption: This loan, whether or not secured by my principal residence, may not
be assumed under the original terms and conditions.
I will see this Promissory Note and any other loan documents for additional
information about non-payment, default, any required repayment in full before
the scheduled date, prepayment refunds, penalties and for further information
about NationsBank's security interest.
Since interest will accrue daily on the principal amount outstanding, the actual
finance charge, total of payments and final payment may vary, depending upon the
date(s) payments are actually made by me. Items preceded by a box are applicable
only if checked.
Additional terms of this Promissory Note. Words not defined elsewhere in this
Promissory Note have the meanings shown in the Federal Truth in Lending
Disclosure.
NATIONSBANK Page 2
R.1 Borrower Loan Number
00000000219982460009 Verbal Verification Date XXXXXX XXXXXXX
The undersigned grantor (jointly and severally, "Grantor") for valuable
consideration, the receipt and adequacy are acknowledged, assign and grant
NATIONSBANK, N.A. located at 00000 XX 000xx XX, XXXXX, XX 00000, a security
interest in the following collateral:
91 Fleetwood American Eagle Serial No. 4S7KT9SOXMCOO4075
which will be primarily located at: 0000 X.X. 000xx XXX, Xxxxx Xxxxxxx, XX 00000
together with all parts and equipment used in addition therewith, replacements,
accessions, proceeds, products and similar after-acquired property (such as
tires, tape players, speakers, or batteries attached to the car). This security
interest is given to secure payment of all indebtedness evidenced by a
promissory note, line of credit or other financial accommodation in the amount
of $75,363.90, dated November 27, 1998.
("Borrower", whether one or more), including all renewals, consolidations,
modifications, extensions and replacements thereof (the "Obligation"), including
all costs and expenditures incurred by NationsBank under this Agreement or under
the Obligation. Despite any other provision of this Agreement, NationsBank is
not granted, and will not have, a non-purchase money security interest in
household goods, to the extent such a security interest would be prohibited by
applicable law.
Grantor expressly warrants and covenants:
COVENANTS. Grantor owns and possesses the Collateral and will keep it free
from any other security interest, lien, claim, charge or encumbrance except
NationsBank's security interest. Grantor will keep the Collateral at the
location specified in this Agreement: Grantor will not remove the Collateral
from the jurisdiction where the Obligation is originated without NationsBank's
written consent (except for routine travel if the Collateral consists of
vehicles). Grantor shall not pledge, mortgage, sell, lease, encumber, transfer,
assign or otherwise permit the Collateral to be subject to any lien, security
interest, encumbrance or charge, other than the security interest provided for
in this Agreement, without the prior written consent of NationsBank. Grantor
will immediately notify NationsBank in writing of any change in the location or
the Collateral or of Grantor's residence. Grantor will properly maintain and
care for the Collateral. Grantor will neither use nor permit use of the
Collateral in violation of any law. Grantor will make the Collateral available
to NationsBank for inspection at any time. Grantor will promptly pay all taxes,
asses6ments or other charges against the Collateral or on this Agreement.
Grantor will execute any document NationsBank deems necessary and take whatever
actions are requested by NationsBank to perfect and continue NationsBank's
Security interest in the Collateral. Grantor hereby irrevocably makes,
constitutes and appoints NationsBank as Xxxxxxx's true and lawful
attorney-in-fact for the purposes of executing documents necessary to perfect
01' continue the security interest granted in this Agreement. To the extent
that the Collateral consists of vehicles or other titled property , Grantor
shall not take or permit any action which would require application for
certificates of title outside the jurisdiction where the Obligation is
originated, without the prior written consent of NationsBank.
FAILURE TP PAY TAXES, COSTS AND TO MAINTAIN COLATERAL.
If Grantor fails to keep the Collateral in good condition and repair or if
Grantor fails to Pay any applicable taxes or costs for filing financing or
continuation statements,
NationsBank may, but shall not be obligated to, cause the Collateral to be
maintained or repaired or pay such costs. Grantor will immediately pay to
NationsBank on demand all of NationsBank's costs and expenses for so doing, plus
interest on such amounts at the same rate payable on the Obligation. Any such
amount paid by NationsBank under this Agreement is secured by the Collateral.
INSURANCE. Grantor will keep the Collateral insured against such risks and in
such
amounts as NationsBank may reasonably require from time to time with companies
acceptable to NationsBank, for the term of the Obligation, against such
casualties and in such manner as NationsBank shall reasonably require. In
addition, if any part of the Collateral consists of a mobile home which is
situated in a flood zone pursuant to the National Flood Insurance Act of 1968,
as amended, or pursuant to any National or state flood insurance program (at
any time of origination of the Obligation or at any time during the term of the
Obligation), Grantor will maintain flood insurance covering the Collateral in an
amount less than the lesser of (a) the maximum limit of insurance coverage
then available with respect to the Collateral pursuant to any and all national
and state flood insurance programs then in effect or (b) the outstanding amount
of the obligation
NATLONSBANK Page 3
R.1 Borrower Loan Number
00000000219982460009 Verbal Verification Date XXXXXX XXXXXXX ( ~c
BOOKING/ MAINTENANCE. A portion of the NationsBank Fee (amount equal to the
lesser of $50 or 2% of the Amount of Note). if any. disclosed in the:
Itemization of Amount Financed above, IS a booking/memo fee as provided by
Florida Statutes Section 658.49 (as amended from time to time). Any amount above
the booking/maintenance fee is either a loan or an origination fee. An fees,
charges and other expenses of this loan of this Promissory Note is secured by
real property), is authorized pursuant to Chapter 666. Florida Statutes, and
Chapter 687.12, Florida Statutes.
LATE CHARGES. If I fail to make a payment when due you may charge a late charge
as set out in the Federal Truth in Lending Disclosure. Unless otherwise required
by applicable law, for purposes of determining whether a late charge is due with
regard to a current installment due you will apply any payments you receive to
the oldest maturing installment due in the manner provided above. Any late
charge will be in addition~ to and not in place of accrued interest under this
Promissory Note.
EVENTS of DEFAULT. I will be in default under this Promissory Note if I fail to
make any payment when due. regardless Of how such amount may have become due, or
if I fail to payor perform 8Dy other obligation, liability or indebtedness to
NationsBank, or if any covenant agreement or condition herein is not fully and
timely performed, observed or kept; or if any bankruptcy or insolvency
proceeding is instituted ~ or against me, or if any tax lien, levy or
garnishment is levied against me; or if you in good faith believe that the
prospect of repayment or performance under any agreement I may have with you is
impaired; or if you reasonably deem yourself insecure for any reason; or if you
determine that any representation made to you is. or was, materially untrue or
misleading; or if any Borrower shall die, or. if any Borrower is a corporation.
partnership, limited liability company, association or other duly organized
business entity, if such Borrower shall be dissolved. liquidated, terminated
or otherwise fail to maintain good standing in its state of organization; or if
any event of default exists or occurs under any security agreement or other
document evidencing a lien against any Collateral; or if any of the events
described in this section with respect to any guarantor of this
Promissory Note. If this Promissory Note is secured by improved real property
and any part or all of the Collateral is sold transferred, conveyed or
all Signed(including to a spouse, to a trust (living. revocable or otherwise).
through probate or as a gift) without your prior; written consent, I will be in
default of this Promissory Note. A default by me any of us (if this is a
joint loan) will be a default by all of us. You may collect from or bring legal
action against any of us (if this is a joint loan) without giving up any of your
rights against any other person. A court decree for divorce or separation o~ a
non-court approved mutual agreement does not affect eliminate or reduce any
Borrower's liability for the Outstanding Balance since NationsBank is not a
party to the decree or to the agreement.
RIGHTS AFTER DEFAULT. Whenever there is an event or default under this
Promissory Note, subject to limitations of applicable law, we may demand
immediate payment of the Outstanding Balance. After NationsBank has accelerated
the maturity of this Promissory Note or after the maturity of this Promissory
Note. whichever occurs first, I agree to pay interest from that date calculated
upon the amount legally owed by me, at an annual rate of interest equal to the
maximum amount allowable by law, provided that any interest paid or agreed to be
paid by me to you shall not exceed the maximum amount possible under
applicable law.
WAIVERS. I waive presentment, demand, notice of demand and notice of
acceleration of maturity, protest and notice of non-payment, notice of dishonor,
and any other notice whatsoever that may be legally waived, and I agree you may
accept partial payments and release or substitute, all without notice to me,
before or after maturity, and that you may also extend the time of oayment and
that additional makers, co-makers, gurantors, and suritoes may become parties
hereto, without notice to me or any of us and without effecting my iability
hereon.
OTHER CHARGES. I agree to pay, on demand, all costs and expenses of collection
of this Promissory Note or any of the guarantee thereof and/or the enforcement
of your rights with respect to the promissory note, including reasonable
attorney's fees equal to 10% of the outstanding balance or such higher amount as
a court may deem reasonable. I also agree to pay $20.00 for the return of any
dishonored payment given towards the Promissory Note.
MISCELLANEOUS. No waiver of any default by you shall operate as a waiver of any
other default. You do not have to pay a refund to me if the amount of the refund
is less than $1.00. If any of the provisions of this Promissory Note shall, for
any reason, be held to be invalid or unenforceable, such shall not effect any
portion of the provision hereof. As used herein, the singular number shall
include the plural. To improve customer service calls may be recorded. This
promissory note shall be governed by the laws of the State of Florida. Any
notice mailed prepaid to my address shown at the beginning of the promissory
note shall give at least five (5) days before the time and date for which the
event will occur.
NATLONSBANK Page 4
R.1 Borrower Loan Number
00000000219982460009 Verbal Verification Date XXXXXX XXXXXXX
NATIONSBANK. N .A. ("NationsBank'.) is making a loan to the above referenced
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customer secured by the collateral designated below. Our customer has indicated
that insurance coverage for the collateral described below is being secured by
you. This property is pledged to us as security and the right to receive payment
under this policy. or any renewal thereof, has been assigned to us. NationsBank
should, therefore, be named Loss Payee/Mortgagee on the policy with tile right
to pay premium payments if the insured fails to do so, with 30 days advance
notice of cancellation or non-renew~. We request you forward a signed original
policy .or a true and certified copy of the policy. providing the coverage
described below to Insurance Tracking Services P.O. Box 740030, Atlanta GA
30374-0030.
If you can not verify coverage, please indicate so in the space provided below
and mail this form to Insurance Tracking Services P.O. Box 740080, Atlanta GA
30374.0080.
D Mortgage/Deed of Trust .NationsBank should be named D First Mortgagee D
Second Mortgagee
Property Location I Replacement Value Insurance 1$
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NationsBank should be named as First Loss Payee on the following:
Collateral Description: Year Make Model
91 FLEETWOOD AMERICAN EAGLE
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4S7KT9$OXMC004075
D Boats (Security Agreement) .NationsBank should be named as First Loss Payee
on the following:
D Boat/Yacht (Preferred Mortgage) .NationsBank should be named as First
Mortgagee on the following:
Replacement Value Insurance $
D Aircraft (Security Agreement) -NationsBank should be named as First Lose
Payee on the aircraft described below with a breach of warranty endorsement
description of aircraft and designated pilot rating.
under .your arrangement will a NationsBank Corporation affiliate bank to
accept payments from its customers or at a NationsBank ATM, or is made m a form
other than a check or money order (except cash), the payment may not be
credited to ~s loan for up to five (5) days. If the due date falls on a
Saturday, Sunday or legal holiday, the due date W1!1 not be extend and if you
do not receive the payment at the address specified on or before the due date
the payment will be considered late.
