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HomeMy WebLinkAbout95-06681 t .~ , ,', !:;'i~ ;' ~.. l.'_r'.; - '. ". ,....._~'._';) ,,', ~1\~5 :TJi.F,- ,t~igj. Jl)-'~'I",.._'" ....e:D~' Xki~i~?#J't~O~~:C:;; ~,""'~.,'_ ,';:y'-,'k '. Q. Z :.,~....".-~. .~-.-,.,.. "., ....- .'r.;{:.~J~. -':'"'" --J!! UJ~:- -.::-~,y,(_ _' __ /~ -'t: ....tbA.',-, ~,'~'1 :. it~.::.{ I'!' , """/t1' t; ".j" ':'. i ~: '. '8 ~~,l /f~'~-..'~, ... .,' ,lit' .-, .~ -'-L'~'->:; ,,- , ,~ lJ t 11& I '" tt 111I111I II it}f; ~J.:I~'f.~~;j~ :lff:~ ~(tt~ " :,.r-:~tl~~l: ,.':,.....-,..\ : ': -~' , . . ~ . IN THESE AGREEMENTS, THE WORDS "I," "ME," "MY" AND "MINE" MEAN ALL THOSE NAMED AS DEUTOnS THE WORDS "VOU," "YOUR" ANO "YOURS" MEM, THE CREDIT UNION LOAN AGREEMENT PlymlntllFlnlncl Chl,g'.: For value received. I p,omise to pay, at your oltlce. all amounls due. All payments shall be made pursuant to the disclosure statoment on the face of this document. I understand thallhe finance charge and lolal 01 payments shown on the reyerse sido of thiS page are based on the assumption that all Installment payments will be made on the scheduled due dates. 1l1l1illO pay any Installment by thl time it is duo. I will pay sddlllonal interest on the overdue amount. Late Charg": III make 8 lalo payment. I agroe 10 pay a lale chargo il ono is disclosed on the lace of this document Contractual Plldg' 01 Shar..: I pledge all my shares and deposilS in the credit union, including lulure additions, as security tor this loan. In case I delault, you may apply Ihese shares and deposits 10 the payment of all sums due at the lime 01 delaull, Including costs 01 collection and reasonable allorney's fees, that you may Incur. up to 20% 01 the unpaid principal and inlerest. No hen or right to Impress a lien on shares and depoSits shall apply to any 01 my shares which may be hold In an "IndiVIdual Retirement Account' or "Keogh Plan.' Property Insurance: If I oblain 8 loan secured by 8 motor vehicle or other tangible property, I must oblaln Insurance which protects the credit union ham financial loss. Such a poll~ mUDI provide at least fire. Iheh, combined addltlo....al coverages and collision Insurance. U must contain a LosS Payable clause endorsement naming the credit union as lien holder. I may oblain this Insurance from any agenl of my choice and direct the agenl to send you 8 copy ollhe polley. Debtor Responsibility: I promise to noUfy you 01 any change In my name, address or employment. I promise not to apply lor a loan ill know there is a reasonable probability that I will be unable 10 repay my obhgation according to the lerms of the credil exlenslon. I promise to inform you 01 any new information which relates to my abilily to repay my obligation, I promise not 10 submit false or Inaccurale inlormalion or willfully com;eal information regarding my creditworthiness, credit standing, or credit capacity. Deflult: (t) III break any promise made under this Loan Agreement or under the Security Agreemenl; or (2) III do not use the money you loaned me lor the purpose stated in my appllcalion; or (3) If you should. in good lailh, behove that prospect 01 payment, performance or roalizahon 01 the collaleral. II any, is impaired; or (4) ill die: or (5) ill tile a petlllon in bankruptcy, Insolvency. or receivorshlp or am put Involuntarily into such proceedings; or (6) ilthe collaloral, it any, given as security for this loan IS last, damaged or destroyed. or if it is levied again 51. altached or garnished; or (7) if I do not pay an 1ime any of my olher or luturo debts to you, you may, at your option and withoul prior nOlice, declare this loan immediately due and payable, and I must immediately pay Ihe lotal unpaid balance, as well 8S the Flnlnce Charge to date. any lato charges and costs of collection permiUed under law, including rea,sonablo attorney's lees. that you mar, incur, up to 20% of the unpaid principal Bnd inlerest. The prlncipal ba Bnce In delaull shall bear inlerest at the contract rate. DeilY In Enforcement: You may delay enforcing any 01 your rights under lhls agreement without lOSing them. Irregular Plyment.: You may accept late payments or partial paymenlS. evon though marl<ed "payment in full," wllhout losing any 01 your ughts under thIS agreement. co-milkers: III am signing this agreement as a co-make,r, I agreo to be equa.Uy responSible WIth the borrower, but you may sue either or both 01 us. You do not have to notlly mo Ihat this agreement has not beon paid You may exlend lhe terms of payment and release any security wllhoul notllytng or relea510g me from responSibIlity on this agreement. SECURITY AGREEMENT 1 To secura payment oflhls loan and all elpondlluros ,"curred by the credll Union In connection wllh thiS loan, I granl to you. security mterost '" the property descllbed on Ihe reverse side of this document As addItional secullty lor thiS loan, I grant 10 you. SlCunty inlerost in all other propert\' pledged by me to you lor Iny other unpaid non-real ostale secured obhgallons owed by me to the credit Union. The security Inlerest Includos all increases, substitutions and additions 10 'he securod propeny, proceeds from Iny Insurance on the socurod property and all earnings recOlved !rom Ihe lecured property. 2. I Will not change the location of, 5011 or transler the collaleral unless I havo you, prior written consent. 3. I wauanlIhatI havo good title to the collateral, !ree 01 allsecurily ~nlore5ts exceplthBt gIven to tho credit union and except for any IOlerost 01 B nonoCo.maker owner ollhe collateral who has signed the agreement In the indicated place. 4. I will pay allraxos, assessments, and liens againsl or attached 10 the property descTlbed and lurther agree to keep the property in good condlllon, housed in a suitable shelter. I agree 10 eJlecute financing stalements and security agreement amendments at your requesl and Will delend Ihe property against adverse third party claims. 5. I will maintain insurance to cover any v,ehicle or olher, property In which you have a socurity interest. ThiS insu'anco WIll be In alarm Bnd an amount satislactory 10 you. I Will supply you with prool 01 such Insurance unlll all sums owed to you and secured by 'hiS property are repaid. 1I11all to maintain such l....surance. you may, but Bre not required to, obtain insurance 01 your own and add the cost of such 10 the sums owed. This cost may bear inloresl at the contract rate until paid. I further assign to you the right to receive the proceeds 01 any IOsurance on such property, and direct any insurer 10 pay Ihose proceeds dlleclly to you, I authollze you to endorse any check or drah prOVIded as rhe proceods at such Insurance, and apply those procoeds to Ihe sums owed 10 you. Ilurther authorize you 10 provide your Insurance Service Center with the necessary inlormation for verilicalion of adequate coverage. I acknowledge thai insurance, or any extension lhereol, placed by you IS Without beneht to me individually but is primauly lor the protection 01 you. 6. Should you leel at any time Ihal the security presenled has diminished in value, or lor any reason leel that additional security is required, I agree 10 assign to you within ten (to) days whatever additional securIty you leel is necessary 10 proloct yoursoll against possible loss. 7. If a delault as defined in the Loan Agreement should occur, you have the authority. upon such delaull, to repossess and 5011 the collateral in a lawlul manner. In such case, you or your aulhorized representalives may, at your option, enter Ihe premisos where the collateral is kept and lake possession. subject to applicable laws. You have the right to render Iho property pledged as collaleral unusable and may dispose of the .collatoral on 'he premises where the collateral Is kept. II you deCide to selllhe collateral at a public sale. pnvate sale or otherwise dispose of the collatoral, you will notify me 01 the timo and place of tho ,"tended diSpoSition len (10) days prior to the sale or dispositlon. If you sell or otherwise dispose of the collaleral you mar. collectlrom me roasonable oxpenses incurred in tho retaking. ho ding and preparing Ihe collaloral lor and arran91ng the sale of the collaleral. You may also collecl reasoni\ble attornoy sloes and togal oxpenses, permitted by applicabte law, Incurred in connection with dISpoSition 01 the property. Unless I delaull, I may keep possession 01 the propony, (collateral) described and uso it in any lawful manner conslslonl With Ihls agreement or with the Insurance policy on the collatoral. I understand Ihat you have cenain rights and legal remedies available to you under Ihe Umform Commercial Code and olher applicable laws. and thai you may use those lights to enforce payment III dolault. In tho even!, I will at your roquest 8ssemble the property (collateral) and make it available to you al a place 01 your choosing. If you decide to waive this dol8UU it will not constitute waiver 01 any other subsequent delaults. ' B. You are hereby appoinled as my AllOrnoY-ln-Factlo perform any acts whIch you leel aro necessi\ry 10 prolect the collaleral and lhe secullty IOlerest which thiS agreemenl creeles 9 II thero IS morothan ono bOrrower, our oollgatlons under Ihis agreemonl afO 10lnt and several, each bClng equally responSible to lulllll the terms ollhls agreemenl. 10. ThiS security ag1oemont not only binds me, bul my eleculors, admlntstralors, hOIlS. and assigns 6TOO 4/89 1- -I '..,'" C"'Uri cr C-m............. _L:o-- !"or" ,-"" ,.:".:_.....1 "'.'t..:-'."I ?-="'r:"'yl"--l'''' I', .._ """" . " _.,..,_.,:...__~_ '-......-.......-".............. ~"I' _....;,J -"..... Members 1st Federul Credit Union 'is. William E. Comrey'and Kathl~~ E. Comrey 95=668) c'ivil ----. :?_- ::-;ow, November 24. 1995 :9_ I, S~~'? O? C~G:::?.1.A."1D COt.~':"~, ?O\- co ==--by ci..::UC::: C: S~E of Dauphin Cuu:t"'f '::) :::::".1t: :is ',V:::., =:s ci.:pu:::cn b~ -"'..:- :1t ~ ~ =d :-=.3k of :.:: ;"":-::I'. s:ae."1if ot C::::::er'~d C~u:tY, ?:l. A,Sda.vit or ~ . :::e:-n~ So =sw=. Sh::::.5' oi CoWltT, ?:. Swot": :md sa!::!c:-J:>d b<::cn: == ::::s _ 6y oi Gem ::.c..-<.v,Ci: ~aI2.-\GZ ,-\::IDA ;17 s ,0 .-- -'------ s f_ -..-..