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LOAN NOTE AND AGREEMENT
$ 595.00
CHICAGO, ILLINOIS,
Feb. 9th,
1921
June 1st,
19121 for value received
I
On
promise to pay to the order of
ILLINOIS LIFE INSURANCE COMPANY
Five Hundred Ninety-five & No/100
Dollars,
at the office of said Company in Chicago, with interest at the rate of. five
per cent per annum after maturity until paid, and
in order to secure the punctual payment of the amount of this pote and interest and any extension or renewal thereof, the undersigned
do
hereby assign, transfer and deliver unto said ILLINOIS LIFE INSURANCE COMPANY, as the sole security for this note
Policy of Insurance No.
100423
issued by
ILLINOIS LIFE INSURANCE COMPANY
and any and all additions thereto or accumulations thereon now existing or that may hereafter be credited to said policy.
It is Further Agreed, that upon non-payment of this note on its due date or within one month thereafter, or on the date to
which it may be extended or renewed or within one month thereafter, or upon default in the payment of any premium under said policy
while this note remains unpaid, the Company is hereby authorized to cancel said policy. In event of such cancellation the amount
of the Paid-up Insurance then available, as provided for in said policy, will be reduced in the proportion that the amount then due
under this note, together with interest and any and all other indebtedness of the undersigned to said Company, bears to the reserve
on said policy then applicable to the purchase of Paid-up Insurance and on the granting of such Paid-up Insurance said Company shall
be released from any and all obligations under or on account of said policy. Any provision for Extended Insurance contained in said
policy is hereby waived and annulled so long as this note remains unpaid.
It is Further Agreed, if said policy shall mature by the death of the Insured, or otherwise, before this obligation shall be fully
satisfied, then this note shall at once become wholly due and payable and the amount thereof, including principal and interest, shall
be deducted and paid from any amount then payable under said policy.
State of
88.
(Sign Elizabeth Name in
Full) (Beneficiary) (Insured)
(Sign Name in Full)
County of
(Sign Name in Full)
(Beneficiary)
I,
a
in and for said County and State, do hereby certify that
personally known to me as the same person
whose name
subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that having read the said instru-
ment,
signed and delivered the same as
free and voluntary act. And I further certify that
the said
made oath before me of the truth of the
statements contained in the last paragraph of the above Application and Affidavit.
Given under my hand and
Seal, this
day of
A. D. 19
NOTE.-This agreement is executed subject to the approval by
Illinois Life Insurance Company, at its head office, of all the terms and
conditions of the proposed policy loan before consummation thereof;
and the Company does not by any act prior to such consummation bind
itself to give such approval, except in strict accordance with the terms
Notary Public.
of the policy.
Document source description
This item is a loan agreement that Bess Truman signed with her full given name and married name, Elizabeth V. Truman.
Page data
- Page
- 2
- Source index
- 0
- Type
- document
- Media ID
- 2eefcdc826913880
- Size
- unknown
Document data
- ID
- 17343380
- Core
- doc
- Type
- document
DTO data
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Context sent to Scholar
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"ocrText": "LOAN NOTE AND AGREEMENT\n$ 595.00\nCHICAGO, ILLINOIS,\nFeb. 9th,\n1921\nJune 1st,\n19121 for value received\nI\nOn\npromise to pay to the order of\nILLINOIS LIFE INSURANCE COMPANY\nFive Hundred Ninety-five & No/100\nDollars,\nat the office of said Company in Chicago, with interest at the rate of. five\nper cent per annum after maturity until paid, and\nin order to secure the punctual payment of the amount of this pote and interest and any extension or renewal thereof, the undersigned\ndo\nhereby assign, transfer and deliver unto said ILLINOIS LIFE INSURANCE COMPANY, as the sole security for this note\nPolicy of Insurance No.\n100423\nissued by\nILLINOIS LIFE INSURANCE COMPANY\nand any and all additions thereto or accumulations thereon now existing or that may hereafter be credited to said policy.\nIt is Further Agreed, that upon non-payment of this note on its due date or within one month thereafter, or on the date to\nwhich it may be extended or renewed or within one month thereafter, or upon default in the payment of any premium under said policy\nwhile this note remains unpaid, the Company is hereby authorized to cancel said policy. In event of such cancellation the amount\nof the Paid-up Insurance then available, as provided for in said policy, will be reduced in the proportion that the amount then due\nunder this note, together with interest and any and all other indebtedness of the undersigned to said Company, bears to the reserve\non said policy then applicable to the purchase of Paid-up Insurance and on the granting of such Paid-up Insurance said Company shall\nbe released from any and all obligations under or on account of said policy. Any provision for Extended Insurance contained in said\npolicy is hereby waived and annulled so long as this note remains unpaid.\nIt is Further Agreed, if said policy shall mature by the death of the Insured, or otherwise, before this obligation shall be fully\nsatisfied, then this note shall at once become wholly due and payable and the amount thereof, including principal and interest, shall\nbe deducted and paid from any amount then payable under said policy.\nState of\n88.\n(Sign Elizabeth Name in\nFull) (Beneficiary) (Insured)\n(Sign Name in Full)\nCounty of\n(Sign Name in Full)\n(Beneficiary)\nI,\na\nin and for said County and State, do hereby certify that\npersonally known to me as the same person\nwhose name\nsubscribed to the foregoing instrument, appeared before me this day in person and acknowledged that having read the said instru-\nment,\nsigned and delivered the same as\nfree and voluntary act. And I further certify that\nthe said\nmade oath before me of the truth of the\nstatements contained in the last paragraph of the above Application and Affidavit.\nGiven under my hand and\nSeal, this\nday of\nA. D. 19\nNOTE.-This agreement is executed subject to the approval by\nIllinois Life Insurance Company, at its head office, of all the terms and\nconditions of the proposed policy loan before consummation thereof;\nand the Company does not by any act prior to such consummation bind\nitself to give such approval, except in strict accordance with the terms\nNotary Public.\nof the policy."
}