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205500
Cana~et Na
SECURI?Y AGREEMENT
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TN(S AGhEEN[ENT nu~_ y~'C~ 3~_~ 1~?Z_, br and b~tweQn
OKEECH06EE COUNTY BANK s
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OKEECNOBEE. FLORIDA
l.crau~ t~iled "8aak". anC
George A. Goodbread
(Nameis) al Borrowartss ~
~ 190l~ Oak Drive Okeechobee Okeecnc~bee Florida
txo. .,~a st~..:t cc?~r~ c~~~r~ tstsa)
he;~in call~d "t4orrow~r".
In coaaid~tatioa d ioans o~ advancea mede or ro br ma~ by Dank to Eonowei. and fot othet •al~e :eaeir~d Dr Eorrowr~r, tA~ parties A~rNp,
int~adin~to'-b~-i~gaUY bound. aqra~ u 1o1laws:
~ 1. !ls uMd ~nin: ia) '"8~xro~rei ' iaeludss ap cvrpora~wns and ap individuala s:ecutinq t:~is a.;reemenl u paniea lterNa. aad all members
ol a pattnsiship, wMa Dotrow~[ is a ptrtn~~sAip. cach d~rrlam ahaU bs pinUy and seve:ally Iiable indi~idually ao3 u partnQn hereund~r: lbi
'S~euritT inNr~sY' m~aat an intenat ia prop~rtp MI1KA securrs payweat or pe+to~maacy ot aa obliqafioa: aixl ~c: "Liabilitp.. or ..liabiiiti~s" inelndp
all loans and ad~ances made heieunder by bank b Horrowsr. u?d ap liahilitiea tprimur. seco~pdaR. dice~ti. :ontu~qeal. aol~ joint o~ sf~eral) du~
oc to h~scww~ dus w that may be h~reahsr conhacted oc acquirod, ol Barro«rot (includiaq aar ~rowrer aad anr aher peraon~ ~o Daak.
2. On the sec~:T~ty ot the Collateral he~einaftei dacribsd or reterrevi Eo. Bank fi) ~ c~ontsmpwaneously herewieb lendiaq to Dorrow~r a sum o!
money specit»d in • p~omLSSOry nofe ot ~ron dat~ A~nrvith. e:ecvted and deti~oted bY Horrower W Bank, payable as tu principa! and ialezest u
therein provided, o~ !b! wall trom tuns b time A~~salt~r F~ad Horrower sucA aawue~s as bank ~eap 3eteemine from time to tim~. al suth ratos ot
mte~est aad payabFe on such tesens u Ba~k mar hom time to time speeily or ipuue. and Sank may ~equire tlul sucA loans, or anr ol them. b~
evidenced by pcoentssor~ ~ate o~ aotes oi tAs Bonower in toian satislactory 10 8ank, ot (c) both is eww 1~ndinq and wi21 htrsaher knd to ~onower
as m~ntioned in t~e foregpnq {al and ibi. For 1h• convenience ol the Borto~rei. IAe Eank mai mak~ loaa adranees !o the $ormwer undu anY
promasory nat the pr+nnpal fac~ aonou4t ol w~ich is ~n e:eess of the aaual ~npaid peiweip~l balance at such tune.
3. As sscuritr tot ehe papmenl pf all loans and ad~ances now or ia th~ luture made A~re~oder and !a a!1 Soriowee's IiaD~liues. includinq
any ~:Nnsions, i~aewals or changes in lorm ot any [hereof, ana as secunry foi Fwlormaacf by Bor~ow-•: ;,i the aqrees.eaes he:cia aet locth. $e:rowez i
hereby assiqns to Bank and giaets W Baak a security usteres! in tAe ta:io~v:nq qoods_ ,
`a? CROPS: Ali of !ae lolbwinq crops planted oc qrowing. oi to be p!rated or qrawing within seven ~ears irom 4~e datr hereot, on the
Unds htrsinah~r desctibed:
ro, y~~~~ceur Hundred (li00) Head of Dairy Ccws & iiei.fsrs - Av. A~e 1/2 To Years.
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( ~bove Com risJd _ v.. r. ;,e - »s (iuernse• & A rshire
Ic; FARM PAODU~s=
•:d~ AU Ptape*t~ similar to uiat descrtbed or ceierred to in "tai'. °cb!", and 'ICl", above, w~;:icA at any time nuy herealter be scquire~ by
Bortower iacludinq. byt not limu~d to, add~tiona and replacemeats and ptcgeny of :~rest~ck and an~mats and ;,ouitry, ar•d at+ pruu;:cts ot aU such '
p~-spsrtp aad o! aops dexrih~d or referted lo u? "'ar" abave.
1111 proceeds d the ~ale ot othe~ diapositioa ot any of lhe propertp descri'~ed w rele:re! •o in a. ~o i ,nclus~ve. at.c~ve 'ali oi
which qoods and propertp desctibed o[ reterred to ~n "a;" b"d'". inciusC~•e. atr~re. .nd tee F~~eceeds :~lerrc:i ;c F.e~~ia are in th~e aqreement
called "Cotlater:l"i.
4. Horrower wurtnts that. ia) 3onowtt is the oxner ol tDe Collateral cie.r o! all tiens and sta~rity ii:terests e:cei' ~he security sotc~~est qtanteri
herebT: ib; Horrowr~r has ths riqht w mako this aqieevent: .c ai; of the Col~a~eral a c: ve~lf t.ecome la: ivd cc qrawn oi; the land ,1he fa~m. gcove.
oz other farmu+q-typc ~perahon oa wA1d+ is tp~:aeed br Bor~owe~! m the Coun'y o! Okeechobee ~.St. Stat~ ot Florida
~o~t puticuLrly de~crkbed u: Lucie & Brcrrard
1- ~ect~ un 35 Trnm~ship 36 3out
TFcan~ 36 East
N insuttic~ent spsoe, sttacA e:h~bit senu~q out compiete des~r~pt,or+
2- ~ect;cn 9, Toxnsr~p 37 S~;:th, Range 37 East ;
3- Sectio^s 6~i 31, To~rns'r~ip E.9 So;:~r.~~~~~~1 :a~L
'd the o+rn~r w owaers a! reco:d d uid latuis i~ os are: ^
1-~. ~lct+rt :ur x G. ~ac~abread, 2-S. IR1Pt;arL, 3 PipFS I~vesL-~Ant C.:,rnc~rati.;n
e Borrawrer's r~sidenca, if not the land d~scribed abow, u af tae addteas specillcd in the ~ceamble this aqreement. un3eu a d~fle~ent add~ess
has Deea specsfi~d in the lolbw~nq spaee:
!No. and Sueetl ;Cttyr iCounlyt (Stah1
tad ;t~ i! the tollowing is checked som~ or all o! t~e CoLate~al a beiRq acqui~ed by Ba:ower with tha proceeds. a som~ part d t~ prpc«ds.
ot tL~ ban or loans made hereunder, and BorTOw~r Aenoy authorites Bant ta dL+burse said pioceeds ~o th~ seUer d such CdtaMra) ar Io t3~ insnranp
aqeat or b~oker. u both. :i show~a oa Bank's records.
S. Donower turther ~qreer that:
t~t Bcrrow~r ~viil pay t6s Bank sU l'ubw..a. ~mdudioq. buf witt~ou~ timiulioa. ail amounts o} principal. interoat. ud ah~r snm. payabl~
uad~r or bT rutw d aar prosa~ori nwe or oth~~ writiep widencinq any liab~~ty. aad ap parb and ir:sta:tmenes trereofl as aed wD~a th~ saa~
aha11 bt dw aa! p~rabN. wl~Ih~ at maturity. b~• aud~r~tiaa or otherww. and Mrill yaclorm ali teims o! a11 promiuory notes asd olher writinqs
ev~d~nciaq tb~ liabilki~s. a~ed McA d tbem. aad ail rzms ot $i~ as?d any cih~r sxuritr or loan agre~ment betwrs~n Bcrrow~r asd M~k. and wf11
di~charq~r aU said~ itaDi4ti~s. _
{ZM ~now~r H!1 d~ad tAe Coil+teral sqaiaq tA~ dainu wd d~mands of aU persoas.
tc) ~:p~r wr~ll wws th~ ColLUral aqainst aU hisards rp ussled br S~nt in form and amoua~ satisfacto~ to Eank. U Dorro,N~r ;~ib
to obtala such=i4su ~~e, ;~ini~ atull haw t~ r~g~t b obqin it at lortow~r's ~:p~ns~. Bonow~r h~r~by assiqns to Haak •ll riqhb to ssceiw pra~c~ds
ot insuraad ~~d du~cb anr uuursr ~o par all procMda du~ctlT b Dank. and ~uthoris~s Hank b iadone anr dr~lt bt th~ proce~d~
:d) Donower wiil kNp th~ CoUaqrd in qood ea?ditioo ~ad ia ~n uaaeaaulactur~d uat~: anend to aad ur~ lor th~ Coiial~rd: do a11
otbrr act~ whkh may be n~cew ~o raW and tatt~a L~hwek aad b qrowr. cutti~~t~. sp~ar. iertilis~. irriqat~, cut. harr~st. pick. cleae, prw~r~~
aad prol~ct th~ aops anc~l~c~rds`,~11 aoco~diaq b tb~ moat appro~d msthais ol laiminq a~d husbandry: pt~pan tA~ Coila.Kd for aukN ~nd
wh~n it b»ad~ lor matkM promptir aotlfy 3ant ol sueh l~e1: bUowr Bank"s insuunioas. U apr. with nNr~ne~ b holdiaq. sAipple~q. ~1orU?q ~nd
mukWoq tb~ Collai~r~l (but Daak shei! noi b~ o4i?g~t~d ~ qi~~ anr scrcA lastructiowl. main4in a!1 bui3dinqs u~d i+~pror~w~nb oa said 4nd in Qood
cvoditlos sud t~~tt: qfrl Eank ~ompt cotje~ d~nr d~;i~~¢~ Colia~anr part th~r~ol. o~ Io said land or eo 1A~ lumlaq or oth~r op~n-
tloo~ op~rsud tL~rwa: aad p~rmh Eank w~uwr upon s~. btlda at aU !s t{w~ tor tbe purpow o/ ~zuainioq iLe Coi4Mra1 aad th~ tand,
hufMinos anA iiaorof~rnwnb ~
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