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Home My WebLink About2973 r ~ ' i ~ a D 69~-IOOR-RIOt011l~OT: i01~ l~M Syfl~T~, Sp1( ~/S=7. T~mpa 33609-~)2•79,11 R~visW 12-~! COll/1TERAL NOTE-SINGIE rAYUIENT g 200, 000.00 Fort Pierce, flo~ida ~cember 11 . 19 70 Demand aftar date the undersigmed (and if more than one. each of them jointly and severally). hereinatter cafled Make~. promisas to pay to the order of ~ ST. LUCIE COUNTY BANK ' at its office at fort Pierce, florida herelnafte~ called Bank 1~ao Hundred Thousand and No/100 ~~~a~ DUE 200 000. oo ~ o. No, cwnich smouot fexlud~s ProeNds oi i ~ ptus otAp e~ari~s ( ri o~ s ns~u~n= tn sn AMOUNT FINANCEO o~ s 200~ 000. ~~t~ int~na ~c an ANNUAL PERCENTAGE RATE o~ x. whicA ~~n. in . FINANCE CHARGE a s 8, 000. 00 ~~P~~b ~ ~ 6 montA matu~ity, tt d«~„na oa~s.ct«?~. ~r ~oe ~~u~aw .bow, oa,.. cnar~~s tn th~ smount ot S Mw bs~n colteetW trom wlak~r. b o.:e.+a~ aecurity for tM psymN?t ot this noq Malnr hss p1~W o? d~posit~d with Bsnk tM followln~ prop~rt~r. . Assignment of Accounts Receivable; Warehouse Receipts Real 8state Mortgage (~nrluding all cash. stock and other dlvidends and ail rights to suDscribs for securities l~cJdent to, d~cla~ed or grsnted in connectt~n with such property), which property. together with all additions and subsiitutions Aereatta ptedgad or deposited with Bank !s called the Col~ !s!eral. The Collateral is also pledged as securiry tor all othe~ liabiJities (primary, secondary. dinct, conttngen~ sole, JoFnt w seversi), due or to become due or which may be he~eafter contracted or acquired, of eacA Msker (lncludin~ each Msker aed sny otA~r person) ;0 8ank. 7Ae surrender ot this note. upon paymeot or othervriso, shall not slfsct th~ ?ight af 8ank to ntaln tA~ Copatenl for such othfr I~abilities. CREDIT 11F£ ~VOD CREOIT LIFE 6 D15ABILITY INSURANCE ARE VOIUNTARY AND NOT REQUIREO FOR CRECiT. SueA Insuranu eow~ is availabl~ at tM cost desisnated bNow tor tM t~rm of tA~ erWit• (s) i for CndR lif~ Inwrsne~ (W i ta~ Chdit Ut~ i Dis~Wlity Inwrarrc~ C~eck ~ C?tdit Litt Insuraot~ is dasit~d on tM tif~ d Bi~fl~d~t~ . A~p~• ~ Cndit Lif~ d~ OisaOility Inwranq is d~slnd on - aox ~ Cr~dit Lif~ snd/or Disspility Inwrant~ is not d~slnA. ; Da te) (Si~natun) Additions ta reductions or ~xchsn~~s of. or substitutions for tM Co1lst~rs~ Psym~ots on account of tAir losn or ineress~s o! tM qrtN. or otMr ~oans mad~ PaKially w wholly upo~ tM Collstersl, m~y from tim~ to tim~ b~ mad~ without aff~ttir~ t1N provisions oi this nd~. Bsnk shsll ~x~reis~ nssoA• a~ie can in tM tustOdy and preservation of tM Collattrsl t0 tM tnt~nt Apuind by spplicaDb ststut~, snd shsU 0~ dNm~d to bsw tx~rtlsad nasonabl~ care it it tsk~s sueh sction fw thst purpos~ as Mak~r shsli rqsonsWy requ~st I~ writins, but no omission to do aoy att not npu~sted by 6Ask~r shsll M ' deamed a(aiiun to ex~rcise nssonsW~ can. and no omissia~ to eomply with s+~y nqwst of Make~ shalt of kult b~ dNm~d s tsilun to u~~rcisa nswn- an!e care. Bank thall not b~ Dound to talc~ sny steps n~ssary to p~rw any ri`hts (n tM Co~Ut~ral asainst Prior pa?tip and Mabr shsll tab sll n~o- essary steps tor sucA purpos~s. Sa~k or its oattin~e eNd ~ot coB~ct tnt~~t a? or prineipat ot any Coitst~at or ~iw snr ootie~ rritA nsp~et to it It th~ Colbtersl shsll at any timt D~com~ unsatisfactory to Ba~k Mak~t sha~~ withln on~ dsY ~RK d~m+nd P~~dp ~nd d~posit wkh Bank ~s p~R Ot tne Collateral additional proptRy wAith is sstisfattory to Bank I( Bank deems itssit insecur~, or upon the happ~nin~ ot any ot tM toitowin~ ~wots. ~sef? of wh9th sAa~~ oonstitut~ • d~fsuR h~hund~r, sll i;abit~t~es ot exh Atalc~r to Bank shstl th~r~upon or thlnaR~r, st tM option ot Bank r+itAOUt notlu or d~msnd, b~COm~ dw and psysbb: (s) fatlun of any OetiQo~ (which t~rm shsll mean and includ~ ~xh Msic~r, endors~r, wr~ty aod ~wrantor of this noU) to p~~iwm any s~rs~meet Mr~und~r, to pay interest h~hon within teo dsys sRer ii is Wlled or oth~rwts~ nqwst~d or danandsd. or to psY sny otMr lisbility whatso~w~ to 8u?k wh~n du~: (b) ?`e death of sny Obti~or, (t) th~ filing of ~ny petit~on und~r tM Bsnlwptey Aet, o~ sny similar t~dersl w stst~ statuN, py w sgains! any ObliQor, sn appt~cation tor th~ sppointment of s nc~Iw~ for, th~ makina ot a ga~end assiQ~mMt for ca. a~,.rc or tnarto.s Dy, w t1w insWwncy of sny Ob11~or. (e) the entry of s judgement aYainst sny OWigor, (n th~ issuin~ ot any sttscAm~nt or garnlshment, w tM rling of sny li~n, asainst iny prop~Ry of iny 0:,~:gor, th~ taking ot possession ot any subsUntial part of tM proparty of anY ODli~or at tM instsnc~ of any sovtmm~ntal suthority; (h) th~ dis- so;ution. merg~r. eonsoliWtion. or no?asnizaUon ot sny Obli~or, tM ~ssi~nmMt by any Malut of any puity In an•~ ot th~ CoUst~rsl without tta wiitt~e? ' c~nsent of 8ank. i Bsnk shall haw, ~ut shall not W limited to, tA~ followine ri~hts, ~ach ot whlch maY b~ ax~rcis~d at any tim~ whath~r or not tfifs not~ is dw: to pleCga or tnns(~r this note and the Collatcnl and Bsnk shall tlunupoe b~ rtliev~d of sll duti~s and MSpO(ISibIIiLK h~nund~r and nliw~d from ~ I a~.~ and all tiaDility with ~espect to any Collateral so pfad~W ot tnnsf~md, and sny pledge~ or trsnsi~n~ shall tor sll purposls stand in th~ pJsu Ot C f BanK he.eunder and hav~ sll th~ rights of Bank henund~r, C~ to trsnst~r th~ wAol~ or any psrt of th~ Coltst~?al into tM nsm~ ot its~N o~ its nom[ap: 4 ~ ;7 to vot~ tha Coilatenl; (rv) to notify iha obligon on sny Collatenl to mala payrnent to Bank of sny amounts dw or to bKaM dw tMnon; (v) to E cr~and. Sut iw, colbct, or make sny wmpromis~ or setttsment it ds~ms d~s7nW~ with retsrenca to tM Collst~rsf; and (v~ to Ukt coMrot of sny pro~ds ~ of Collateral. Bank is Mre~y ~iven a lis~ upon se~d s security int~rtst in sH prop~rty of esch OWi~or norr o/ at ~any t1rM hensft~r In tM poss~sston of Bank ar.y capaeity wAatsoewr, including but not limited to any Wlat~c~ or shan of any dsposit, trust, or ag~ney aeeourtt, as sacurity for the psymu?t ot u..~ r,ate, and a simifsr Iien upon and security inter~st in a0 such propsrty of exh INaker ss sscurity fo? tM psymuit of aU oth~r liabititi~s of exh Malur 3~r.< (inciudina liabititi~s of ~xh Ataket and sny oth~r person): snd Bank shall haw tM urt?~ riahts as to such prop~Ry ss K bas with raspKt to th~ ; Co. ~tenl. If Bank dcems itsdf insecun o~ upon th~ occurcenca of soy d~tauk Mrwnder 8ank sl~stt haw tM nm~dits ot s secund psRy under th~ Unl- ComrrKrciat Cod~ snd, without Iimiting the Qenenlity of tht foreganQ, 8ank shatl hsve tM riQht. immediatety and without furth~~ sttioo by i~ to >c: c!! against ihis not~ alt money owed by Bank in any eapacity to eath or any OWigor, whtth~r or oot dus, snd slso to s~t oft a~ainst atl otbtr ~ .:..:~t~es of ~ach Msker to Bsnk all money owed by Bank In any tapuity to exh or any Makar; and Ba~k shsll W dNmW to hsvt ~xtRissd sucA ci setolf awd to haw made a charge ags~ost any such money immediately upon th~ occu??~~ce ot wcA defauR even tAOUgh such tharg~ is mad~ z-tered on th~ books ot 8ank suoscQueet thsreto. Unlass tA~ Caltateal is p~rishaW~ or threat~ns to d~clin~ sp~adity tn wtw o~ ls of a typ~ eus- ._~-.ar[ty sold on a recoQniz~d market, Bank will giv~ Msker rcssonabl* notiu oi the tima snd pls:.~ oi sny pubtit sal~ th~nof or of tM tim~ aft~r whith a-.i prtvat~ sa1• w any oRhsr intended disposition thersof is to b~ msd~. Th~ nquirem~nt of reasooaW~ notic~ sAsll W met it sucA not~u is mailyd. .,cs:age prepa;d, to any Msker at tM address given btlow or at sny other sddrsss shown on tA~ r~cotds !of th~ Bank at bsst fiw days bttor~ tA~ tirrN ~ c` :he sat~ o~ dispos+tion. Upon disposition of any Collattnl sfter ths occurranc~ of any d~fauR hsreunder, Maker shalt b~ snd rsmsin IiaW~ tor sny ce`,c;er,ey; and 8a~k shall aeeount to lulak~r for any surplus, but Baok shaf{ Asw tA~ riQht to apply sll w any paR oi sueh surplus (or to hold th~ ssrt~ as a reserw against) sny snd all othlr tisbilities of escA or any Maktr to 8ank - !io delsy or omission on t1~~ part of Bsnk in ex~rcisin~ any right h~nunder shatl op~nt~ ss s waiver ot such ~M or ot sny otMr riYht undar ~ ~-.s ro:e. PnsentmeM, demand. Protest, notit~ of dishonor. snd e:t~nslon oi tim~ without noRlu ar~ hanb~r rrsiwd b~t ~ach and w~ry ODG~w. TM ~ aors. jantly snd swently. Promis~ se?d sQru to psy all eosts of eollsetion sra ano.~.ys' fNS pwl to l~~p ot tM prineipal sum or sueh IsrRtr ~ a...c,;nts ss msy b~ r~asonaWt and just irrcumd w psid by Bank in totorrin= Mts nott upon tM occun~nu of any d~fsult. My notic~ to Msic~r shsll suff:citntly serv~0 fot stl purpos~s if plsc~d in tM msil, posts~~ prtpsid. sddnss~d to or bh upon tM prunis~s st, tM addnss shorrn Osbw or snY c:r:er address tAown On 8anlft records. Atsfc~r scknowt~dses ncsipt ot s compl~~d copy ot this tioN o~ tM abow dat~. A~~a~s: p•O• Box 1795 INDI RIVFR FC)OD6 INC. ts~wy BY: President • ATTBST: ~ ~iF. .1! ~'•1~•~ ' • . ' • ? ~08~188 ??~296~ . .