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i[GIJRITY AiRtWtNT tCNATT[{. M011TYA~t1
tlNt/O1tY COIMrt11C1AL COD[ lINO. OI! COII?.I J~~ TNif INSTRUAAfNT WAS pREPAREp ~Y
~~aC____~_ ~ RI~HARD A, fOSTER
~RII ~SZI WEST ~ROWARp
(CHA?TEL MORT~AGB) ~r w?va~a~, fu, ~~i~
~hj~, ~~P~ made che lFth day of OCtOber 1968
uader the laws of the state of F1~~'ida
~~~UeBtt F. L. Wallace ~ 11e~r~ha ~ith i~Ial~ace, his ~ fe herein called~e Debo~r
whose bnsiness addtess is (if none, wdte "aoae") None
aad w6ose cesideace address is 311 North 20th SL~'eet~ F~1`t Pie2Ce~ FloZ'id8
aad All-South Mortgage~ Inc. 6erein called tbe Secured Party
~rhose address ia 3521 W, Browsl'd Blvd. ~ Fort Lauderdale, Florida .
~'ttrieSB¢t~:
To setore cke psymenc oE aa indebtedness in che amounc of = 3~~~~ wich incerest, payable as [olbws:
35 consecutive monthly installments of =71.20 8ach beg~nn,ing November 15, 1968
Together vith a fiaal installment of ;1612.76 due R;tober 4, 1971•
This ia additional security on mortgage Piled under clerks number •
Docum~entary SPamps have been affized to the Original.
aa evidenced by s note or notes of c~en dacc6ecewich. md also co secure aor oa5ec indebcedness or liability of t6e Debtor
co t6e Secnred Party direct or iadirect. absoluce or concingent. due or to bccome due. oow euscina or hereafcer arisiaa,
includin$ all future ad~ances or loans whic6 may be mde at t6e opaon of the Secnred Party. (all 6ereioafter called the
"obliaaaons") Debtor hereby araats aad con~eys to the Secured Pa~ty a security intecest in, and mort6saes to t6e Secured
Pacc ,
• ti) tbe pivpetty described io cbe sc6edule 6erein (6ereinaEcer called the eollatecd), w6ich eollateral t6e Debcot
represents will be used ptimadly
~ fot personaf, f~mily or 6ouselwld pucposes ~ in facmioa.opera[ions ~ in buaiaesa or other use
(b) all propa~ty, aoods and ehattels of t6e same cl4sses as tbose sc6eduled, acquired by the Debtot subsequrnt co t6e
e:ecution oE tlus ~greement and priot to its te~mination
. (c) all ~ioceeds t6ueof~ if any.
(d) all mcceases, substitucions. replacemencs. addicioos and sccessioas chaeto.
DF.BTL7R WAI1~iR,AN1~ C~OVENANIS AND AGREES AS ~LLOWS:
. To p~y and perfotm all of che obliaacions secured by chis aaceemenc accotdioa to cheir tecros.
To defend the title to the rnllatenl aaainsc •ll persons aad s6aiost all claims aod demands, whacsoe~et, whicb
j collueral, e:eept fot t6e security inceresc arsated hereby, is lawfully owned by tbe Debtoc and is now free aad elear of
~ any and all liens, securicy incerescs, daims. c6acges~ eneumbraaces, ca:es and assessmenta ezcept as may be set fon6
ia c~e scbedule.
~ On demind oE the secared party to do tbe Eolbwina: fumisL further assurance of title, e:ecute any wriccen ag~eement or
j do aay othet acts necesasty to eEfectwte che purposes and peovisions of c6is aareement, ezecute any instcument ot atue-
~ ment requircd by law or othetwise ia otdet to pedect~ continue oc tetminue t6e security intetest of t6e Secnred Patty in t6e
i co2lueral and pay all coscs of Blin in connect~on thetewith.
~ _ To aaigpossession of t6e co~~teral durina c6e euscrnce of this aareement and not m sell, uchaoae. aasiau. loan,
delivet. lease, mottaage or otherwise dispose of ssme ~ritlwut t6e w~riaen conseat oE tbe Secnred Pactr.
' To keep the collatenl st tbe location specified in che sc6edule aod not to remove same (e:cept w t6e usual coutse of
business Eor cempotary periods) ~vitbout the pnor wrritten consenc of c6e Secared Partr.
. To keep che col~tecal free aad clear of all lieas~ cbatses, mcumbrances, c~ea aad assessments.
Ca Topa y. w6en dne. all t+aes. assessmencs and license fees eelacina co c6e collatenl.
L> e~ To Iceep che collatecal. at Debcor's own cosc and e:pense. in aosd repair and ooodition and svailabk for inspection by
c:.i chs Secured Party u all reasonable times. ~
?o Icee tLe collaceral full insured s ainst loss b fice t6efc and ot6er casualtiea Debtor ahall i~e immediate
` x % w wriccen oocice to the Secured Pac~ty aad co insurors of loss or damaae co che collatenl and s6a11 peomptlq filegpeooEs of loss
~ ? ~ wit6 insurots. -
^~,^a .
~ ~ ~ THE PARTIES FURTHER AGREE
t ^ ^ ~
rai~et of or acquiescence in any default by the Debtoqor failure of tLe Secuted Paccy to insist upon stcicc perfonnaoce
~ by the Debcor of eny wananties ot a6reemeots in c6is secnricy aareement. ahall not eoascitute a wra~ver of anq subsequent
a or other defaalt or fulure.
Notices to eicherpa rty shall be in writin6 aad s6~11 be deli~eced persooally or by mail addcessed co the pacty at t6e
address 6erlin set 6orth ot a6erwise desigoated in wricina.
I7?e Uai(o~ Commerei~i Code sh~ll so~em cbe riahts, duties aod cemedies of che psrtiea and aaq pro~isions herein de-
c f'r ~ clated.in~alid under sny law s6a11 not in~alidate say othet peovision or t6is aaceement.
~e folbwina shall constitute ~ default by Deboor:
Failute to pay t6e principal or aaq insallment of Ptincipal or of interest on tbe iadcbtedness oc ~ny notes whea due.
Failnre by Debtor to camply wit6 or perform sny provision of dtis aareenmt. False or misleadina representations oc war-
ranties made or ai~en b~ Debtot in connection wit6 this saceement. Subjeaion of the coll~teral w le~y of e:ecution ot
other judicial process. Commencemmt of aay insoltency peoceedin~ br oc aaainic che Debcor. Deach of c6e Deboor. Any re-
duction io c6e~alue of che collaceralor any acc of.theDebcor w6ich imperils che pcospe-c of Eull perfoim~nce oc satisf:ccwa
of d~e Debmr's ob4bations 6ecein.
2 ~n an default of the Debcoc and Rc t6e opcion of che Secured Put~r. tLe obliaacions secaad by c6is •geeemmt s6a11
~ ~acely~ecome due and paysble ia fnll wicbont notice ot demand aad c6e Secwred Party sL~ll hs~e all c6e ris6ts~ rem-
edies aad pn~ileaes witL cespecc to cepossession, cetentioo aod ule of t6e collatecal aad dispositioa of the proceeds as
7 ue aceocded~r tLe spplicable seecioos of che UoiEoem Commercid Code cespeccina'befaulc"
~ U any dehulc :nd upoo demaad~ Debcoc shall assemble t6e collaceral and mdce it s~ailable co c6e Secured Paety ac
t6e ace aad ac the time desianated in the demaod.
~ po a aoy default. the Secnted Psttys reasonable atcomeya' fees and che 1e6~1 aad otber e:pmses for putsuina.
searc6ina fot, tecei~ios, talua~. keepina. soorina, ad~e~cisin . and sellins tLe collitenl s6sA be cbataeable oo tLe Deboot.
[s~ 1be Debtor s6a11 rem~in liable Ioc an~ de6ciency cesugu4a t~m a s~le of c6e collacenl and shall pay any auc6 dr
ficiency fortbwit6 0o demand.
U the Debcor shall dehnlt in tLe perfoemaace of aa~? oE the pro~isions of chis ~reemmc on the Debco~apatt co bepea
fonaed, Secured P~rty map petfoim s~me foc the Debtor a acoonnt ~od an~ aaoies upended in w doins s6aU bec6acaeable
wit6 intetesc co tLe Debcor wd added w the indebcedness sscwred 6eceby.
Tbe Secared Pattp i~ heceby ~u~6odud o0 6le a Financias Scacemmc.
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