HomeMy WebLinkAbout2314 ~ 2`~0z Thomas I~. Henderson J
HenderROn & Matheny. Atty. At I.aw
B~~ P. O. Box 6526, Titusville, Fla.
SA-FP •
Documentary Stamps in the amount
Coatnct No. ~ of $45. 00 have been affixed to
$ECURITY AGREEMENT riginai note,
(FARM PHODUCI'S)
~S ACs~g~ lllidiw M a Y 1 O ti 1~
FLORIDA NAT~ONAL BANK AT TITUSVILLE
TITUSVILLE, FLORIDA
herein called "Bsak,' and
J._ J._ Parri$h, Jr. , as Receiver under Civil Action No. ?2-633. in the Circuit Court of
St. Lucie County, Florida and not (Nams(s) aE Bomower(s))
individually
of .,~qnn x~a~T;~~, u~a~ TituavillP Brevard Florida
(~Ia aad Street) (CitY) (~W) (State)
haretn a13ed "Bo~mw~er."
L, cos~sideration o# 1o.na or .dvanoes mads or oo be made by Bauk w Botmwer, and for ot6er vatue reoeiv~ed by Bo:r~owres, the parttes
intending bo be 1egaIIY bound. s8iee as fdlows:
I. As used Le,reiu• (a) "Borrowef' indudes all oozporations and all indtviauals e:ecv~g t6is agreenne~ut ~s Ixrties Lento. and sil mesn-
bers of a p~nershtp. when Borrower is a parme~ip, each oE whomu shau be joindy and sevew~y Iisble individ~allr and~ as~pam~s h«+eunder-
( b) "Sec~tity interest" meaat an Intes~st inpro
p~y which secures payment or~{
o~manoe af an b~ga 6bn: aad ~c) °Liebdlity' or 'iiabilities
includes all lo~ aod advano~ maRk M.~eunduby Bank bo Borrawer, aal all liab~itles primary. s~x~oodarY, ditect. oontin8ent, s~de. iant or sev~-
eral) due o~ Eo beoama due or tbat may be hereafter oont:acted or aoquired, of Borrower ~indudiag auy Boso~wer u~d any atbet person). to Bauk. .
2. On the secvrity of the Collateral heir,inafter desc:ibed or refesred to, Bank (a) is oontemporaceousty herewith leading to $or:ower a
s„m oE mo~Y spe~6ed In a Promis~' note of even date btrewith. e~ecuted and deUvered by Borrower to Bank, PaYable as to principal and in-
terest as therein pmvided, _or (b) will fra~n time w tinne hereafter lend Borrower such amounts as Bank may deteimine fram tia~e to tlm~. at such
rates af interest and payable on svc6 terms as Bank may from time to Nmc~y or ~+equtre. and Bank mayr~,,~ tLst such loans„ or any of
chem, ba evidenced bY P~~iY note o~ notes of tbe Borrower ia form sati$act
o_ry to Bank; or (c) botL is now7ending and wW hereaftu lend
to Bocmwer as mentionetl !n the fore8au8 (a) and (b). For the oonvenieaae of the Borrawer. tLe Bantc may m~ake loan advances eo tbe Bar-
rower under anY P~if' note tbe principal face amount ~ wLich is in e~coess ~ the actual unPai~1 P~in~Fa1 balanoe at sucL tinne.
3. Aa sec~rity for tl~e p~yment ~ all lo~ns and advances now w in the future made hercvnder and for all Borrowei
s liabilities, incladiog
any ertensions, rene~vals ar ~es in form of any thereof. and as secvrity for performanoc by Borrower of the a~reements herein set forth, $or-
rower hereby aaigns to Bank g~ants to Bank a secvrity interest In the follm~ring goods:
(a) CROPS: All o£ the fdlowin8 crops Planted as gmwing, o: to be planted or growing within seven years fran the date Lereof. on the
ilnds heneiw~fter described: Land as d~scrib~d in sch~dLle attached hereto and m ade a part hereof.
( b ) LIYES'TOCK:
(c) FAR11i PRODUCfS:
(d) Allp aimllar e~ tLat descsibed or refured co in "(a)." "(b),° ,md "(c)." abm^e, wLicb at any time may hereafttr be aoquiied
by Bozrow~ vx31 ing but aot limiced to, addiNons aad re$laoements nnd proge.ny of livestod~ and snim.ls and poultiY. and all producb ef all
such property and of t~e cropa desexibed or referied to ta ( a j" above.
of whi~~goods~ ~ d~sc~ibed«or
~~to inof anY of the property described ar refesral to in "(a)" to "(d).` indostve, above (sIl
,~ertY ( a) to d), inclusive, above, and the prooeecls referred to Lereia, are in this agree-
ment c~Iled "Collateral
4. $orrower warrants that: (a) Borrower is the owncz o~ the Coilateral clear of all lie~s aod sec~uity inta~ta ezctpt the security intcrest
granted heseby; { b) Boirower has the right to make this agreemeut: ( c) all of the Collateral is or will beoome located or grown o~ the land ( tbe
farm, grove, or other farining-type operation on w6icL is operated by Borrower) in the County of
State of more particularly desciibed as: : ~ i+i
: % ~ - j'/~ ~
, , ~ . ~
(If su~aent spaoe, attach euhibit setting out oomplete description) _ .
_ :v ,•t~c.:' _
_ . • '
_ . ~
( d) the owner or owneis of rernrd of said lands is o; are: ; : c, "
Modulex Hame Communities, Inc / 120 Wall Street New York~ Ne~ Xor i,4
.
t e) Borrower s residence, if not the land described above, is at the address speciSed in the preamble to t1~is
~ ag'~.eeas''eu4 pnl~ a differe~f address
has been sPeciEed in the following space: •
. ~ti -
(No. and Sheet) (CitY) (co~,n~Y) ' ; : (StAtg)_-.-=' ~
and (fi if the foIlowing is checlced p some or all of the Collateral is being aoquired by Borrower with the pmoeeds, a~ sowep~t ~ of the proceeds.
uf the loan or loans made hereunder, sud Borrower her~eby autharizes Bank to dislwrse said prooceds to the seller of ~ch Collaternl or to the in_
suranoe agent or broker, or both, as shown on Baxilc's reoords.
5. Borrower further agrees that:
( a) Borrower will pay the Bank all liabilities ( including, bnt wit6aut limitation. all amounts ~ Princ+Pat, interest, and other svms pay
-
ab3e under or by rirtue of any promissory note or ot6er writing evidencing any liability. and all parts and inctallments thereof) as and when ihe
same shall be due aadgay
able, whether at maturity, by accelerati~ or oiherwise, and will perform all temu of all promissory notes and other
µ~itings evidencing the liat»lities. and each af ihem, and all terms of this and other security or loan agzeem8nt between Borrower and Bauk, and
azll discbarge all said liabilities.
(b) Borrower wilt defe~ the Collateral against tbe claims and demands of all persons, ~
7 1 n 1 t'_" ~ • f"~'_' T'_1" 1l ~f'_"'
(C) 13orrower wlil inwre we i;ouaterai agBLUSL AII Ilay8lp5 IE~UeSiCii, ur n4auc w~ww uina aiiiuuii'a ~uu~aaa;awr ~iv asa~u. u ua~vwcF
faiLc to obtain such ina~rance, gank shap have the right to obtain it at Borrower
s e~petue. Boirower hereby atsigas to Bank all rights to reoeive
proceeds of insurance a«i directs any insurer to pay all Proceeds diredly to Bank, and sutborizes Ban1~ to indorse any draft for the proceeds.
(d) Borrower will keep the Collateral In good condition and in aa unmanufacture~ state; attend to and eare for the Collateral: da sll
other acts which may be ceoessary to raise and fatten livestock aad to grow, cultivate,spraY. fertlli~e ~rri te, cvt, lurvest. Picir, dean p~+~erve
and protect the crops and farm products, all aoooiding to~ tbe most approved methods of farmiug an~ h~s~
, Plel~ar~ the Coilateraf for mar
ket aod when ii Ia ready for market ptly~~y Bank of such fact; follaw Bank's inttructions, if any, witL• referea~oe to holding, sWpping,
storing and marketing the Collaterd but Banlc sha11 not be obligated tog~ve any weh in~uctioas), maintain ~1 buildings and imp~vaments on
said land in good condition and reP~atr: Si~ P~Pt ootice of any damage to tbe ColIateral, or any part tbeno~, or to said land or to tbe
farming or other opera~tio~m ~operated therean: and perznit Bank to enter upon said lancls at all reasonable times fo~ tbe purpwe of e:amintng the
(:ollateral and the tand, M~ildings and Lnpmvemwts.
. i ~ j ~yl~~~ ~II: ~YV~
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