HomeMy WebLinkAbout1876 S-075
Collatessl Receipt AMERICAN FIRE AND CASUALTY COMPANY
Home Oftice - Orlaado. Florida
BOND NO.
ON HEHALF OF• CQt~ISTRUCTION COMPAN~ QP' FORT PIERCE, INC.
RECEIVED FROM: 8~~d T. Whitaker & Norma L. Whitaker (hereinaiter wlled Owner)
the following deacribed colldteral:
SET L9GAL DFSCRIPTIQNS QF PROPERTIES ATTACHE~ ~RSTO.
It is agreed that the above described cottateral hae beea pledged to and deposited with
AMERICAN FIRE AND CASUALTY COMPANY (hereinafter called Company) by the Owner as
security (a) against any and all liability, losa, costs, damages, expenaes and attorney's fees
arising or incurred in connection with any bond. recognizance, undertaking or other ohligation
(all of which.. together with any contiauations or modificatione thereoi, are hereafter referred
to as bonds) heretofore or hereafter executed, assumed or procured by tne Gompany at the in-
stance or requeat of the Ovimer. Principal or Indemnitor. and (b) for the performance of every
agreement (includiag continuations or modifications thereof, with or without conaent of the Owner)
made by each of the Principals, Indemaitora and Owners in connection with said bonds, and the
payme~t of all premiuma thereoa Said collaterai shall be solely for the benefit of the Company,
its reineurers and co-sureties on said bonds and its and their successors and aesigns.
At any time and without eotice or legal procesa. ia order to pay out of such coliateral to
itself or otherwiae any amounts due or to become due, or if otherwiae advisable in its sole dis-
cretion. the Company may. but shall not be obliged to. aell any of said collateral at public or
private sale to itself or any other peraon, or deposit. invest. convert, cash. exchange. renew
or dispose of said collaterai or the proceeds thereoi ia any other manner, in such form and on
such terms as it deems proper.
Upon receipt of written evidence satiafactory to the Company of its diacharge from all
liability under all such bonde and of 4wnership of the collateral, and of payments of all amounte
due aa described herein, the Company shall return said collateral or the proceeds thereof to tt,e
then ownera (less any deductions purauant to the terms hereo~, in auch form as it may then be.
including intere8t or other additions actualty received by the Company directly and solely on
account thereof. -
The Company ahall not be liable for any loas, depreciation or decrease of such collate~al
or the proceeds thereof or damage thereto except by reason of grose negligence of its officers or
employees. Such negiigeace ehall not be founded in whole or in part upon conatructive notice.
The righta given to the Company under this agreement ehall be in addition to and not in
Limitation of any other rights the Company may have by law or any agreement.
The Owner represents itaelf to be soie Owner of said collateral and agrees to save the
Company harmless from claims of aay other peraons to any part thereof. The Company may take
such aciion or legal proceedings to effectuate this agreement as it deems adviaable either in its
name or otherwise. but at the e~cpense of the owner.
This receipt is not assignable or tranaferrable except upon written consent of a duly ~
authorized officer of the Cotnpany and must be returned at the time aurrender of the collateral is
reque sted.
The Company shall have a reasonabie time within which to return the collateral after
receipt of evidence showing termiaation of liability.
The above conditions are AN FIRE AND CASUALTY COMPANY
agreed to
~ BY
Owne x . i er . , rney-in~ ac
gy And i ~ _ ~
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RS RDCORDED to correct certain documents recorded De~mber 28, 1965, under
Yile # 1~154~~ O.R. 13lt, Page ~s7, Clerk of the Circuit Court, ~
St Lucie County, Florid,a ;
,
BuRn ~.51 PAGE •~4 ~
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