Loan Note and Agreement between Harry S. and Bess W. Truman and the Illinois Life Insurance Company

LOAN NOTE AND AGREEMENT $ 595.00 CHICAGO, ILLINOIS, Feb. 9th, 19 21 June 1st, 19121 for value received I On promise to pay to the order of COMPANY Five Hundred Ninety-five & No/100 - - ILLINOIS LIFE INSURANCE 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 note 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. NEW (Sign) State of (Sign Name in Full) Elezabeth Name in Fyn) Truman (Insured) ss. (Beneficiary 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 Notary Public. itself to give such approval, except in strict accordance with the terms of the policy.