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HomeMy WebLinkAbout0829 . i ~ specifically authorized to be sold by the Mortqagorst and thia right ~ to a partial release or releases will, upon payment of the esid release amount8, vest in eaid purchasera or the Mortgagors, their ~ succesaors.and assigns, provided that thia chattel mortgage ie not theh in default in any manner. All release amounta.so paid to Mortgagees, their auccessors, personal representatives, heirs or assigns, shall be credited toward payment of the last installment or ' installments due under the proaniasory note secured by thi$ chattel mortgage and shall not extend the time of payment of any prior install- ment or installmenta due or to hecome due thereunder. 9. The Mortgagors and the Mortgagees, and their respective auccessora,~executors, at~ainistrators, heirs and asaigns, agree that the Mortgagors, their successors and assigns shall have the right to use, sell, convey or replace, in the business of FRSSHWATSR-SIYIITS I~tACHINS OOMPANY, a Florida corporation, all items of (1) inventorv, including parts and materials, office eq~sipment, tools, appliances _ and stock parts for resale; and of (2) machine installations and Contractor's E~,~g~ consistinq of trucks, trailera, tractors, . cranes and automobiles, including but not li.mited to the items shown in Inventory And Appraisement, compiled by L. W. Halbe, H. R. Whalen, Jr., i ~ and Srnest Osteen, dated November 7, 1968; IDCCSPTING TBSREFROM the ~ j 1 f i ~ items specifically set forth in paraqraph 8 hereinabove. _ e ~ 10. The Mortgagors, their succesaors, executors, adminis- ~ ~ _ . ~ trators, heirs and asaigns, agree that, until the lien of this chattel mortgage shall have been fully satisfied,_paid and released, that ~ they will maintain in the business of FRSSSWATER-SMIZS MACHINE ~ ~ OOMPANY, a Florida corporation, and as an asset of said corporation, i ~ ~ ~ an inventory, as described in paragraph 9 hereinabove, of a total ~ . . ~ _ ~ market value of at least nine thousand dollars ($9,000.00) and will ~ promptly replace all Contractor's Equipment and Machine Installations, as described in paragraph 9 hereinabove, which they may sell or to which they may co~vey title with like items of equal or greater value. - 12 - - ~~188 ~ 828 _ ~ . ~ a~" ~'.~-t .s''- _ : ~ ,t ~y,W~~ . - . _ .