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~~~ 3 ' ~ 664
ST. LUCIE COUNTY. FLA.
RIDalt COVEMIM~_B,~Q~?~ (c)!_: I I+~OR'i'c3, ~E . .
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1.
The Mortgagor doss hereby coveaaat aad agree:
(a) To aiaialsai~n a4 all tiles an excess' of current assets
over current liabilltiies (casganbsd in eacb case in accordance
with good ac~ountiag ~tactice~ for the purpose o! such
ccgputatioo, current s-atarities cL' the not• secured by
~L~ ......,._.__ s,,.~» s.~ .w+t~.A~A frees curnsr-~ 2lsbiiitiea)
os one hundred thousand dollars ($laa,0aa)~
(b) Sot to create, incur, assume. or auffex to ea:ist any
liability ~ fo~c borsoMed Aoaey except the indebtedness ae+Cured
herabp aad the indebtedness conte^plated by the lett~t
~lateri December Z3, 1960 frow c;eaersi Development ~r~'
oralcioa to Th• First National City Baak of Mew York.~ad
The First National Beak of Mimi, aad not to assume.
guaranty, endorse, ox other~-ise becosie liable in con- ~,
aeatioa with the obligations o! any person, firs o~ corgQr~ ,
afiioa, eoocept the eadorsaant of negotiable instrus~ents
!or deposit or collection or sioilar transaction i~,,the
aorsal conrsd of bnsiriess~
(c) Mot to create, incur, assusRe or sufler to exist nay "
aortgage, pledq• or other encumbrances, lien or chaYge
upon nay of its properties or assets, Whether now oMned
or hereafter acquired except
(I) Suah eaau®brances a• are in existence on
the da4e hereof,
(II) T.iaas !or taxes not delinquent,
(III) Mechanic's lives Which are bonded or
. dischirged witbia tbirty (30) dayst
(d) Mot to sell, lwss, transfer, convey or iispoae o! any of
its properties or assets e~ocept in th• normal course of
its bbsiness wi.thoat the prior written consent of the
.~
Mortgagee. ,
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_ f~.EO AN~i,RECQRDEO
IN OK .
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•• _ s--.; 1961 F4
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