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ACREEMEN T NOT TO ENCUMBER OR TRANSFER
PROPERTY
As an inducement to ~L. Lucie Couniy Bank, Ft. Pierce, Florida (hereinafter
cailed "Bank"), to grant credit to the undersigned under a Promissory note for
the sum of ~ 393~?.20 dated July 9, 1971 er to purchase
from (hereinafter called "Dealer"), the
promissory nate of the undersigned for the sum of $ . dated
and payable to Dealer, and in conssderation thereof, the
undersigned (hereinaftar called "Borrowers", jointly and severally agree that until
said note and any extension or renewal thereof and also any anci ali othes
indebtedneas of the Borrowers, or either of them, to Bank, whether joint or sev-
eral, heretofore or hereafter incurred and without regard to the nature thereof.
shail have been paid in full or until 21 yeara following the death of the last
survivor of the undersigned, whichever shall occur first. (a) Borrowera will pay
all taxes. aesessments, duea and charges of every kind, imposed or levied, or
which may be imposed or levied upon their real and pereonal property prior to
the time when any cf such taxee, assesaments, duea or chargea shall become
delinquent, aad (b) Borrowers will not, without the consent in writing of Bank
first had and obtained. (1) Create or permit any lien or other enc+ambrances
'(other than presently existing liena and liens securing the payment of loane and
; advances made to them by Bank) to exist on their property, reai or personal, now
` ,.~iwned or hereafter acquired, or (2) transfer, seli, hypothecate. aseign or in any
` ~.~nanner whatever dispose of the said property, or any interest therein. including
` ~ gpecificaliy, but without lirriitation, the following described reat property,
~ ~ituated in the County of St. Lucie ,,itate of Ftorida:
,ti (Description of Property)
1
\ , n - - - (Please see baCk for descript~~r.) - - -
-
It is further agreed and understood that if defautt be made in the performance
; of any of the terms hereof, or of any instrument executed by Borrowers in conn-
V ection herewith, or in the payment of any indebtedness cr obligation of Boi•r~wers
now or hereaiter owing to Bank~ Bank may, at its election, in addition to all other
remedies and rights which it may have by law, de~lare the entire remaining un-
paid principal and interest of aay such obligations or indebtedness then remaining
unpaid to the Bank due and payable forthwith.
Borrower hereby assigns to Bank all moneys due or to become due to Borrower
as rental or otherwise for or on account of auch real property, reserving unto
Borrower the right to coliect and retain any such moneys prior to Borrower's
default under the terms of the loan described ahove.
It is further agreed and underatood that Bank may, in its discretion, and is here-
by auihorized and permitted by Borrowers to cause this instrument to be record-
ed at such time and in such places as Bank ma}, in its diacretion, elect.
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Dated at: Ft. Pierce, Florida
July 9, 1971
a e
STATE OF FLORIDA
County of S t. Luc ie
On ~ul~ 9, 1971 ` before me Evelyn E. Todd , a Notary~P.u~2~C
in and for aaid St. Lucie County and State, peraonally sp~e~tr,ed-. ,
Frederic P. ~ Barbara L. Kolesar knowri to me to t~ the persOtl(~~f ~?~iO~s'''~~
name(s) is/are aubscribed to the within instrument and acknowledged to tne
that Frederic P. & eerbara L. Koiesar executed the same.
WI TNESS my hand and official seal. ;
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