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Home My WebLink About5239 . YFii~ INSTRUMENT WAS PREPARED BY! • 2~5~~~ ~P~~rFR B. Gl~BEPT, 4t:;,:t~~~ 3i L~~ 220 S. SECOND STREET. fT. PIERCE. F1A. 33l5p Form 8 SECURTfY AGREENEA'T ' (Consumer Goods and Equipn~ent) Dennis D. K~seth and Hilda L._..Kyseth his wife n~nt~t,wno~,aa~eu~.....1749._.York...Court.,.,.Fort., Pierce Florida 33450 ~ . ~~c: co .....~~.G~ard...~.....A~aca,~y... axts~..M~~.t~~...E.~...I~~~x~,y.,...hi~...wi~e. • . . , Secured Parry. a serurity interest in the following property: Inventory, furnishings and fixtures located in Store Space ~~4 of Searstown Shopping Center at U. S. ~kl and Virginia 'Avenue, Fort Pierce, Florida. complete with all pcesent and future attachmenis, aoassories, t~eplaaments and equipment. cailed in this agreemeni the "oollateral; ' to secun the payrteont of a oertain promissory note dated ...~-.~8 ~ 73 ~d pven by Debtoc to Secured Party in the amo~nt of .T~"1ent~.-five Thousand Three Hundred 1~aent and no 100 Dollars Y........................ ayabk as therein rovided t P p ogether with interest at the rate of . pet ceni pe[ annum and to sean the psymeni of any and all other indebtedness and liabilities whatsoercr of Debtor to Secured Puty. Ikbtor hereby warnnts and agrees: 1. (a) Debtor is the ownrr of the eollateral deat of all liens and security intetests except 1he security interest granted by thi.~ agreemcnt; (b) Dzbtor has the right to make this agrecment; and (c) the colhteral is osed ot aoquired for use primarily for the purposa checked: personal, famity or household purposes; fum purposes; or busuiess purposes; and (d) if cheeked here the collateral is being avquired with the proaeeds of the loan pronded for in or ucured by this agreement, and said proixeds wiU be used for no other purpose. and Debtor hereby authorius Secured Party to disburse such pmaceds ot any put thereof dirPCtly to the seUer of the oollateral or to the inwnna agent or broker. or botfi. ai shown on Secured Pucy's reoocd~, Store S ace 4 • 2. 7t?e cotlatenl wiL be kept at .........................P..............~T u~iTiesr$.a.e.~.a..~.~3..~QW~...~~'.I~PB~.I(~$....Cs~I1.~4~...».. Fort Pierce -St. Lucie Count ' a ~ ~............................Florid 33450 . ~ - (~citY) (~ounty~ . rstatef........... or, if I~ft btan{., at the address shown at the be ~nni of this rnent. Debtor wiU not permit any of'the c+o(hteral to be moved - withouc the prior w~itten consent of Secuced Party. If ihe copateral is or will become a fixtun, it will be a113xed to real pcoperty at the address }ust specit"ied or to real property located at The real pmperty to which the coll~teral will be afli~ced is owned by Debtot or is owned by ..rr.a~....~Q.Y.~ns and the legal descnption of the property is: Store Space ~~4, approximately 15' X 60', Searstown Shopping Center, U. S. ~~1 and Virginia Avenue, Fort Pierce, Florida. The inventory is merchandise sub~ect to sale and re~]~~ce~e.nt b~ t~e ~~bto~.. 3. No financing statement cove g the coUateral or any procceds the o u on e m any p lic o~ce; tor aut nzes Secured Pazty to Pile, wherever he deems appropriate, fu?anring statcments signed onlp by the Secured Futy deuribing ihe collateral in the same nunner u it is described herein. From time to time at the request of Secured Party, Debtor shall execute one or more fu~ancing statements and such other docurtxnu (and pay the rnst of filing or reoording the same in all pubiic offices d~emed necessary or desirabk by the Secured Party) and do web other acts and things, all u the Secured Party may request, to rstabiish and maintain a ralid perferted security interest in th~ rolL• teral. Debto~r further agttes to deposit with Secured Party any certificates of title issuable with rospeet to any of the coliatenl and to note on them the seearity interest. Secured Party is hercby appointed Bocrower's ~ttorney in fact to do all acts and thine that Secu~ed Party may deem neassary to perfect the secunty interest and protect the collateral. , ~l. Debtor wiU not (a) permit any liens or security intensts other than Secured Puty's security interest to attach to any of the coltaterat; (b) permit any of the coliateral to be Icvied upon ander lega! process; (c) sell, transfer, lease, or otherw~ise dispose of u?y o[ ihe collater~l or any interest therein, or offer so to do, without the prior written consent of Secured Psuty; (d) pernut anything to bc done that rtuy impair the value of any of the cotlatcral or the secutity intended to bc afforded by this agrcement; or (e) unku ihe collater~l is specitied in paragcaph 2 as a fixture, permit the collateral to be or become a fuctute (and it is ~ expressly covenanted, wartanted and ageed that the collateral, and every part thereof, whether aff`~xed to my realty or not, shaU remain person~i property). ot to beoome an accession to other gooJs or propetty. 5. Debtor will at all times wh~le he is indebted to Secured Party keep the coll~teral insured against loss. theft. and ~iamage trom any cause in an amount equal to full cash value, and the insutance policy shall provide that loss thereunder and proceeds pay~ab;e there~nder shall be payable to Secured Party u its interest may appeu. The po6cy also shall provide th~t no act or defauit of Debtor shalt affect the righi o! the Seaued Puty to recover. Secwed Party may apply any proceeds of the inwranoe it receives toward payment of the liabilities. whether due or not due, in such otder of appliqtion u it may determine. Each poticy shall provide for 10 days' written minimum canc.:llatan notke to Securcd Patty and, if Secwed Puty w rsquats, shall be deposited with Secured Pariy. Secuced Party may act u attorney for Debtor in obtainir~, adjusting, settling~ and qnceling the insuranae and indorsir~ any drafts. Debtor at all times will kcep the collateral free from any adrerse lien, xcurity interest or encumbrance and in good otdet and repair and wiU not wute or desuoy the coUateral or any part of it. 6, Debtor will not use the coltateral or permit it to be used ir~ violation o! aay statute or ordinanoe. 5ecured Puty may cxamine and inspect the coUateral at any time, wherevet loqted. Debtor will pay promptly when due all taxes and assessmeats upon the ootlatcr~l or for its use or operation oc upon this ~geement or upon any note ot nota or other writing eriden~ng the liabilities, or aoy of them, secured by this agteement. c ~2 a-~;.`y:~.. d ~ ~~~u~.~ vr~-~~ KZQ9 ~,~E2~31 , ~ . - : y ~:q~ w,..~~~`~ ~ _ ~ - ~ , .w,~„{.~~.~