HomeMy WebLinkAbout1697 Th~s Insirument W:,s Fre~~a~e.d E3y:
j fECNRITV AOREEYENT IC?~ATTEI ~AORTOACEI C, R. A/cpONAlO. JR., A110t~~ RAMCO •ORN {1 I
~I UNIF041~ COMMfi11CUl CO~E IIND. 01~ cown.l C~~~:•~• F•d•.el Bu~ldioq j
Ff. Piarc~, Flo•ids ]1450
~EClil'i~~ ~~XPEtttErit ,
(CNATlEL MOR7~AGE) 22162~?
,
~I~is ~1~reem~nt, ~~a~ 7TH asY of December 19 ;
~
uader che la~rs oE the state of ~lOrldB t
~efh1P¢tt ROBERT M. SPRAGUE and ROSEMARY SPRAGUE, his wife, ~
~
herun called the Deboor
w~6ose business address is (if aone, ~rcice "aoae")
"NONE"
and whose residence address is ~58 Entrada Avenue, Fort Pierce, Florida
and 4~lENDEX,~i L. COVALT and VI RGINIA M. COVALT , herein calted d~e Secured Pacty
hiS W1 e,
~ whose address is
~ 1Q0 Wettaw Lane. Apartment 9~ North Palm Beach~ Florida
i
~itiiesseth:
~ To secvre the payment of an indcbtedness in the amount of = 1~ 7~0 . 00 with intetest,
~I ayablc as follo~vs;
(I p ,
~ The sum of $1700.OQ being payable in 24 months,
at the rate of 7$ interest per annum, in monthly
i installments of $76.12, commencing on the lOth
~ day of January, 1972, and a like amount on the
~ lOth day of each month thereafter until said sum
i is paid in full.
~
' ~ -
I ~ ~E, ~ G~~~rv y ~ _
; w S ~"AT~ o~ F-LU1~21UA
IM. PAY!t,Ey: Op jA!es ppCUME1VTA"" STAiWP 7AX
~ diE ~`J C~jS'C I~YIA.N;IBLE P~5_J:rAL P1~u~Eh~y ~ 2 = s~'~ 1~
PUFC~ANT TQ CFiAf'TER 71•134. A:,IS Of 19)1. ~ - ' f s
~ ~ JAN-6'?2
RLuER POliRAS. C3¢rk Gratil Coud. SL lucte Co. Ft~. U ' ' i,~ 2~~~
~ N o'trt.a~ etrEa~rc • :
, z
pB.190112 "
i~ as evidenced by a note or ~otes of evea date hetcwith, and also w secure any othet iadebtedness ot liability
~ of c6e Debtor co the Secured Party direct or iad'uect, absolute or contingenc, due or co bernme due, now ezisting
4 or h~rrafter azising, including all futute advances ot loans evhich may be made at the option of t6e Secuted
Patty, (all 6eteinafcer called che "obligations") Debtor hereby grancs and conveys to ch~ Sectued Patty a
securicy intrrest in, a~d morcgag~s to cbe Secured Party~
E
(a) the pmpetty described in the sc6edule hetein (hereinaftec called the collatetal), which collatetal the ;
;~f Debtot tepresents will be used pcimarily , ~
~i ~ for personal, family or household pucposes ? in farming operacions ~ in business or other use
i i (b) all pcoperty. goods and chattels of tbe same classes as tl~ose scheduled, acquired by tbe Debtor sub-
~i sequent to the ezecution of this agreement and ptior to its tecmi~ation
i!
~ (c) ali pcoceeds c6ereof, if aay~
j, (d) all incceases~ substitutions, replacem~nts, additioas and accessions thereto.
( DEB717R WARR.ANTS, COVENANTS AND AGREF.S AS FIDLLOWS:
~ To pay and perfocm all of the obligations secured by this agreement according co their tews.
, To defend the title to the collateral against all petsons and against all rlaims and demands ~vhatsoeret, which
~ col[acerai, eYCept for rhe security intetesc granced hereby, is la.vEully owrned by the Debtor and is now free and cleat of
i
~ any and all lims. security iacerests. clsims, chacges, encumbrances~ ca:es and assessmrnts e:cept as may be set (ort6
~ in the schedule.
On demand of the secured party to do the follow~ing: fumish furcher assurance of citle. ezecute aoy written agreement
j~ or do anp other acts necessary co. effectuate the pucposes and provisions of this agteemrnt~ ezecute any tnsttummt ot staer
ment required by ta~ or otberwise in order co perfeec. coatinue or terminace ehe security interesc of the Secured Party io
i' che collateral and pay all costs of filiag in connection t6erewich.
! To retain possessioo of d~e collateral durina che e:iscence of this aareement and not to sell e:ebanae, Assiao, ban,
~ deliver. lease, mongaae or other~vise dispose of same withouc the writcen consent of t5e Secured ~arty.
To keep the collatetal at the location specified in t6e acbedule and not to temove same (ezcept ta the usual rnutse of
business for cempotary peciods) without d~e priot ~ritten consent of che Secuted Patty.
j! :o {ceep the collatera! tree and clear of all lieas. charaes. enc~mbrances. ta:es and assessmencs.
To pay~ when due, all taxes, assessments and licease fees relacing to tt~e collateral.
To keep che collateral, at Debtor's own cost and e:peose. in aood repair and condition and not to misuse~ abuse~
wasce or allow w deceriorate e=cept for nocma! w~ear and tear and to make same available for inspection by rhe Secured
Patty at all reasonable times.
~i To {ceep the collaieral insuced a~ainsc loss by fite (includir.g e:cended coverage) theh aad other hazatds •s t4e
, Secured Patty may require and to obtaia collision insurance if aPplicable. Policies shall ~t in aucA fotm and amounts snd
w7ith such compan~es as the Secured Parcy may desigiate. Policies shsll be obtained fwm responsible insut~ots.aut6otiud
4~ to do business ~n this stete. CettiEicatea of insurance or policies. payable oo the tespecavt parties as tbeit inte[eat may
appear~ sha!! be deposited with the Secured Party ~r6o is su~6orized, but under ao duty. to obtaie such iaaurance upoa
i failurc of che Debcor to do so. Debcor shall give immediace ~vricecn aocice to ehe Secured Pucy and co insucors of loss or
; damege co che cotlaeeral a~d sha11 promQcly Fle proofs of loss with insumts. Debcor hereby 4ppo ints the Secured Pvtty t6e
attornep for che Debtor in obtaioing, adjuating and cancelling any suc6 insurrnce and eodocsina stttlemeot de~fts and
i~ hereby sssiana to the Secured Pany-all suma wh~ch may become payable undet auc6 insur~nce, includina retum ptemiums ~
and dividsnds, as ~dditional security foc the indebtedness.
" eocK 1~~ PAGf 16y5