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Borrow~r wi11 d~luM th~ Ccllst~ral a~ainst tM clsims and d~mands of all p~rsons at any timt clsimin~ tM s~m~ or any int~nst tMNin.
S. NO Flnsnci~ StsttrtNrK coverin~ s~y Collst~rsl or sny prot~eds th~nof is on (il~ in sny pubiic oHic~: Bo?row~r authwit~s S~cund PaRy to fil~.
~n ju~isditfions whtr~ this suthori:ation rrlll b~ ~iwo ~M~tt, s Finsntint St~t~ment sitn~d on1Y by tM S~curtd Party dsscnDin~ the Co~tat~ral In tM san+~
manntr ss R is d~scrib~d Mnin; and f~om tim~ to tim~ at t~t rpu~st ol S~cund PsRy, ~x~cut~ on~ w mor~ Financi~~ Stat~m~efts snd such otM~ docu-
` ments (and pay tM cost o1 filine or ncord~n~ N~ sams ie sll publie offic~s d~~med nectssary or desinbl~ by th~ S~cured Psrty) a~d do such oth~r scts snd
. tnin~s, all as th~ S~tur~d Party may rpwst to ~stablish and msintain • vslid s~curitr inter~st in tA~ Coqst~ral (IrN o~ all othar li~ns si?d clatms whitso-
ever) to s~tu?~ th~ psym~nt af tA~ IiaWliti~s, includie?t, without limitation, d~posR with S~tu?sd PaRy of any ctrtificstes of titl~ fssuaW~ witA respett to any of
±he Collat~ral snd notation tMr~on of tM sxurity i~ttrtst ht~~under.
6. Borrower will not (a) p~rmit sny liens o~ security intensts (other than Seeu~ed PsRys security irtter~st) to sttscA to any of tM Co1laNral: (b) permit
any of th~ Co1lst~ral to D~ t~vied upa? under any IeQsl proctss; (c) sNl, trsnster. Iease, or oth~~wis~ dispos~ of any of the Collateral or any intenst tAeran, or
~ otfer so to do, without tM prior w~itt~n cons~nt of Secund Psrty; p~rmit anythins to W done tAat may impsir the valw of sny ot ih~ Collat~ral or tAe
security iot~nded to be aHorMd Ay thls stnem~nt; or permit th~ Collatersl to D~ or b~coma a/i;tur~ (and It is ~:pnssly cownsnted, wsrrant~d and
. agreed, thst tM Collsteral, snd w~ry psrt thtreoi, w~MtA~r a1CaW to any r~~lty or not, shall b~ and ~~main personat p?op~rty), or to becom~ an sccess~on
, to other goods w prop~rty.
~ 7. Bwrower will (a) at all tim~s Ice~~ tM Cotlateral i~sur~d assinst loss. dams~~. theR, snd such other risks as Secu?~d Party msy ?puin In such
. .~mounts and compsnles and und~r such polict~s and in such fo~m, and tor such periods, ss sAa11 bs satistactory to S~cursd PsAy, and ~sch such policy sha11
~ P~ovide tAat toss theraunder sa0 pmceWs payaWe tMrweMt~ shall b~ DsYsble to S~cur~d Party ss Rs inter~st mar sppear (and S~turW PaRy msr sppiy
.,ny proceMs of such insursnc~ whith msy D~ r~c~iwd by Secur~d Psrty towsrd payment of the IisOiliti~s, whetMr du~ or not dw, in such orde? ot applics-
t~on as Securad Psrty may determint) and ~sch :uch poNcy shall provid~ for 10 days' written minimum eancNlation notite to S~cured PaRp: and ~xh such
pot~cY shatl, if Secured PaRy so rpwsts. D~ d~posit~d witA Setur~d PaRp: and S~curl6 PaAy may xt ss attorn~y fw Borrowe~ i~ optsinins, adj;~ttins, settline.
,nd cancelling such insurance snA fndo?sint any drahs; (b) at all tim~s k~ep tA~ Collste?al frea from sny adwrs~ li~n, s~cunty inttrest, or ~ncumbranc~ snd
~ B~d order snd r~psir and vntl not wsste or d~stroy tM Collst~.al w any pa~t th~rooi.
8. (a) BorcQw~r will not uu tM Collatsral or p~rmit tM sartN ta be usad in violstion oi any statute or o~dinancr, and Sscund Party may usmin~ and
;•,spect tAe Collate?al at any time, wherever located. (b) Borro~rer will pay promptty wA*n due all taaes and assessments upon the Collabrsl o? fw its us~ or
~pe~atio~ o~ upon this aQreement or upon sny not~ or notes w oth~r writin~ e~idencing tA~ liadilities, w any of thsm.
9. At its optior?, Sacund PsRy msy dischargs tues, liens or sscurity Int~r~sts w other e~cumMances st any tim~ IaviW w plsced on tM Collsteral.
rney pay for Insuranc~ on the Collat~ral, and may pay for th~ maint~nsnce and pres~rvation of the Collsteral. Borrower agrees to nimDurs~ Secured PaRy on
: emand tor any psyment msde. w any expcns~ incurred, py S~cu?W Psrty, pursuant to th~ foreQans autAo~:ation. Until defauR. Borrowe~ may hsw pos-
session of ColWtersl snd use it in any larrful msnner not ii?tonsist~nt wilh this agr~ement and not inconsistent with any policy of insunnc~ tMrson.
10. Borrower shall bs in detault under this asroement upon tM happ~nin` of any o( the tollowing ~vents o~ conditions: tailu~~ or omission to paY wAen
r~,e any liability (or any installment thereot or inter~st th~reon), or d~fauR In tM psYmeM w pertormsnc~ of any oWi~stion, covenant, asre~m~nt, or liability
c o~tained or r~ferrW to he~ein; (b) any warranty, r~prssentation, o~ stst~nt made or turnish~d to Secured Party by w on behslt of •ny Borrwwr p?oves to
raYe Oeen false in any matenal ~~spect when msd~ or fumisAW; (c) loss, tA~ft. su~stantist damage. dest.uction, sale, or encumbrsnce to or ot any of the
Coliat~ral, or th~ making of any I~vy, ssizuro, or sttachment the~eaf o~ th~~eo~; (d) any Ob1i`or (wAieh term, as usaa h~rein, sAall rt»an exh Borrwrer and
each other paRy primarily or s~condarity or contingently liable on any ot tA~ tiabilities) Decomes insolwnt w unaM~ to psy d~bts as thay maturo or makes sn
assignment for the benefit ot craditors. or any procaedin= is instituttd by or s~ainst snr Obliaor altesing thst such ODligor is irtsolwM or unable to pay debts
as thejr matur~; (e) entry ot any judsment saainst any Obli~or; (n d~ath o( any Oblitor who is s natursl person, o~ of sny partner of any OWiQor wAich is a
partnership; dissolution, mers~r or consolidation, or transfN of a substantial psrt of tM p~op~rty of any Obligor whith is s eorpontion or s partnenhip;
n> appointment of a rtc~iver fw th~ Collst~nl w s~y ther~ol or fo~ any prop~rty in wAich snr Borrow~r has any int~r~st.
Il. Upon tha oceurr~nc~ of any such dNautt or at s~y tims tMnaR~. or wMnwer the Secured Psrty i~ets insacun tw any ruson whatso~w?, S~-
cured Psrty may, st its option, d~clar~ all liabiliti~s setund Mnby, w any o} tMm (notwithstandi~a sny ptovisions tnereoQ, ImmWiatNy du~ snd parabte
»~tnout dtmand or notic~ ot sny kind and tM s~rrN tMnupoo sAall imm~diatNy A~com~ and ba dw and payaW~ without dems~d w notit~ (but with such
adjustm~nts. If any, with r~sp~tt to inta~est or otMr charsas ss may b~ provided tor in tM protnissory note or oth~r writi~~ wiA~ncin~ sueh liability), anA
~ Secured PsRy shsll hsw snd may ~ercis~ from tim~ to tirn~ any snd all rishts snd r~mWits of a S~curW Party under th~ Uniform Canm~roial Cod~ and
any and sll rishts and ram~di~s avsilsDl~ to k under sny otMr appiiesbb bvr, and ypon rpwst o~ d~mand oi S~cured PsRr, Borrow~r sAsll, at its expense.
~ assembl~ tM Coltaleral snd mala it avaiPabl~ to tM S~cursd Party at a comreni~nt plae~ ~cceptaDl~ to S~eu?~d PsRy: and Borrow~ shall P~Pt~Y Dar all
costs of S~cund Psrty or cotl~ttion of ~nr and sll th~ UaCiHUts, snd Mforcxntnt o( ri~hts Mnund~r. intludin` nssonaW~ attorrNys' f~ta aad IKsI ~pMS~s
` and expenses of any repain to sny of tM CoNat~nl snd e~cp~~s~s of sny npsirs to any r~slty w oth~r prop~rty to whith anr ot tM Co1t~t•ral msy b. atfi:.d.
~ Any notit~ o/ ssle, disposition or oth~r int~~d action by S~cur~d PsRy, s~nt to Bonvwtr at tM sddnss d Bwrowcr specified abov! or st s~y oth~? sddress
snown on th~ records of S~cur~d Psrty, st I~sst flw days prior to wtA sttion, shsll constitut~ rNSOnaW~ notita to Bor~ower. Exp~ns~s ot t~takins, holdln~,
E c~eaaring tor sal~. ullins, or th! lib. shall includ~ Saeured PaRys nssonsbl~ attomnrs' fws snd IKsI u[pensts. My lxc~ss w su?plus of protpds M ~ny
d~sposition ot any of th~ Collatersl msy b~ sppli~d Qy S~tur~d PaRy towsrd payrrKM of such of tM liabikies, and in such ordt~ ot sppliutfon, ~s S~cur~d
¢ PaAy may irom tim~ to tirtN ~I~ct.
~ 12. No wsiwr py Seeured Party o( any d~tsuR shsll op~nt~ s~ s waiver W a~y other d~/auR or ot tM ssm~ detault on a futur~ occasion. No Q~lay or
~ omission on tha paR of SecurW Psrty in ~~rcisint sny risAt or nm~dy shall operaU as a waiv~r thtrsof, ar+d no sln~b o~ psRial ~x~rcis~ by Secund PaRy
~ ot any ritht or remWy shall prsetude any othK w furth~r ~~~cit~ tMnof pr tha ~xercis~ oi any other ri=ht or r~m~dy. Tim~ is of tM ~ss~nc~ of this t~rN-
ment Th~ provisions ot this spKment a~~ cumulatlv~ snd in sddition to tM pmvisions ot any not~ s~turW pp thls a~reem~nt, snd S~cund Party shsll hav~
~ a!i the ben~fits, risMs and remWi~s o( snd unAK any not~ sseund hertby. 11 mon than on~ paRY shsll ~ucut~ tAis s~r~emeM, ths brm "Bonow~r' shall
~ mean all psrtt~s signin~ this a`reem~nt and ~sch of th~m, and all sueh psRl~s shall 0~ iointly and s~v~rslly oWisst~O snd liabl~ Mnunder. Th~ sintular pro-
~~un, wh~n us~d herein, shall intlud~ tM plursl snd tM n~ulN sh~t1 inelud~ masculi~e a~d feminin~. If this atnem~nt is not dat~d wMn ~c~cut~d py th~ Bor-
~ ~o«er, th~ Securcd PaRy is sulhoriz~d, without notk~ to tM Bo~rower, to dste this agrs~m~nt. Thls as.Nment shsll bacom~ ~thetiv~ as ot th~ dat~ of this
~ agreemsnt. All rights of Seeured PaRy Mroundtr shsll inur~ to tM b~n~tk oi its sutttssors snd +~ssiQns; and sll liabiliti~s of Bor~apr sAall Wnd tM htirs.
e.ecuton, administrston, sueetssws and sssi~ns ot ueh Borrorwr.
s 13. This a~r~em~nt has be~n dtliv~nd In tM State ot flo~ida uM sAall bi constrwd in sccudsnc~ with th~ laws ot Florids. VYMrtwr possibl~, ~sch
~ a~o+ision of this asrKmcnt shall 0~ int~rpret~d In suth msnn~r as to b~ ~if~ctiw and vstid undtr appNcsbl~ Isw, but if any provision ot this K~sament shsll
~ Ce proMibited by o~ invs8d und~r applieaW~ Isw, sueh provision shall b~ in~fi~ctiw to tM ~xttM of sueh prohibition or invslidity, without invslidstini th~ rt
~ maind~~ oi suth provition w th~ r~mslntn~ provistons o/ thfs ssn~rnMt.
~ IN WITNESS WHEREOF, thls s~~mu~t hss bNn dWy uucut~d ss of th~ 31 d~y p~ January 1972 .
~ S~gned. s~aled ~1Rf dNiwred -~~~~~~'7~~~Gf V - - (SEAL)
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(S~tur~d party ns~d sisn only if atrNm~nt is to b~ used ss s Flosncint
Stst~nt.]
STATE OF FLORIDq
; CQUNTY OF ST. 3.UCIE
~ SWORN AND-5LTBSCRIBED BEFORE ME this 31st. day of ,Ta.nuary 1972.
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