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Home My WebLink About1455 If this agreemrnt i, sccucity (ot a loan tu be used [o pa~~ a pa:t ur all o( thr purchace pricr o( the c~liatetal; tu u,e the ~ ptoceeds u( the luan tu pay the purch.+se pcirt, filing lees and insurance premiums. 11ie lecured }'a~ty how'eve~, may pay the pmceeds dircctly to the seller of the cullytecal. ; ' To immediately,notify tht ~ecured Patty in w~titing ot any change in or discontinuancr of Uebtot'splace or plarrs of ~ ~ business and/or res~de~ce. ~ ~i That if the collatetal has bera attached to ot is to be attacbed to teal estate, a desctiption of the teal estate and the I? name and a~idress oE rhe tecotd owner is set forch in the scheJule herein; i( tAe said collateral is attached to real estate ~ priot to the petfection of ~he security in~erest granted he~eby, Ueb~or w~ll on demand of the Securcd Patty fumish the (atter ont6 a disclaimer ur disctaimers, signed by all persons having an intcrest in the teal esiate,o(anyintecestinthecoll8teral which is prior co Secuced Party's interesi, TNE !'AR I7~;S FUR Ifi~F.R AGREE ~ Notes~ if any, e:ecuted in coanection with this agrermrnt. ate separate instcuments and may br negotiated by Secuted ; Yarcy without teleasing Debtur. che collateral, ot any quacantoc or co~nake~, Debtor coosents to any excension of time of payment. If chere be more tt~an one Uebtor. guaran~or or co~nalcer of chis agceement or of notes securrd hereby. the obliga- 1' tion of all shali be ptimary. joiat anJ sevetal. Niaiver of oracquiescence in any JefAUlc by the Uebtor,or (ailure of the Secueed Party ~o insisc u~on strict perfocmance ~ by the Qtbtor of any wartanties or agreements in this stcurity agcrement, shal! not constitu~e a a~a~ver of any subsequent or other defauEt or failurc. ~ Notices co ei~her party shall be i~ writing and shall be delivered personally or by mait addressed to the pany at the address heteia se~ for~h ot otherw•ise designated in writi~g. ~I The U~ifocm Commercial Code shall go~em che rights, duties and remedies of the patties and any provisions herein declated invalid undet any laPr shall not invalidate any other ptovision oc this agreement. ~ The following shail rnnstit3te a default by Debto~: ~ Failure to pay the principai or any installment o( principal ur of interest on che indebtedness or any ~otes whea due. ~ Failure by Debtot to comply with or perform any provision o( this agreement. _ ~ False ot misleading teptesmtations or waRant?es made ot given by Debtor in connection w•ith chis agteement. Subjection of the cotlaceral co levy of ezecu~ion or other judicial process. i~ Commencement of any insolvency ptoceeding by or against the Debtot or of any guarantor of oc sutety foc the Debtar's . obligatioes. Death of thc Debtot or o( any Guarantocof or sutery for the Debtot's obligations, i~ Any reduc~ion in the value of the collateral or anp act of the [)ebtor which imperils the prospeet of full performanct or satisfaction of the Debtor's obligations herein. j` Upon any default of the Debtor and at the option of tho Secuted Party, the obligations secuted by this agrecment shail immediacely become due and payable in fu11 w~ithouc rn;cice or demand and the Secured Party shall have all the rights~ rem- edies and privileges with respect to repossession. rete~tion and sale of the collateral and disposition of the proceeds as : i ace accorded to a Secured Pany by t6e applicable sections of the Unifocm Comm~rcial Code tespecting "Default", in effect as of the date of this Security Agreement. ~ Upon any default, the Secuted Party's teasoaable aaomey's fees and the legal and other e:penses for pursuing, ~ lf searching for, receiving, taki~g, icetping, stoting, advectising. and seUing the collatetal shall be chargeable to the Debtot. ;I Tl~e Debtor shall remain liable for any deficiency resulting from a sale of the collateral and shall pay any such de- ~ ficiency forthwith on demand, If the Debtot shall default in the perfocmance of any of the piovisions"of this agreement on the Debtor's pare to be per- fotmed, Secured Party may petFotm same for the Debtor's account and any monies e:pendr.l in so doing shali be chargeable wich intecest to the Debmr and added to the ladebtedness secured henby. In conjunccion with, addition to ot substitution for those rights, Secured Patty. at his discretion. may: (1) enter upon ~j Debtor's ptemises peaceably by Secured Pacty's own means or with legal process and take possession of the collateral~ or :f rcnder et unusablq or dispose of the collateral on the Debcor's premises and che Debcor agrees no~ co resisc or interfere; "(2) require Debtor to assemble the collatetal and make it available to the Secured Patty ae a ptace to be designated by th~ Secured Party, reasonably convenient to both parties (Debtor agrees that the Secured Party's address as set Eort6 above is j~ a place ceasonably con~enient for such assembling);(3) ualess the collateral is perishable ot thteatens to decline speedily ~n value or is of a type customarily so(d on a recognized markec, Secured Party will givc llebtor reasonable notice of the time and plac~ of anypublic sale thereof or of the time after whichany private sale or any other intended disposition there- E of is to be made. Thc requitements of reasonable notice will be met ii such notice is mailed, postage prepaid, to the ad• ; dress o[ the ~ebtot shown above~ at least thtee days before the time of sale ot disposition_ Secuced Patty may assign this agreement and if assigned the assignee sha(I be entitled~ upon ootifying the Debtor. to ~ ~ performance of all of Debtor's obligauons and agreements hereunder and che assignee shall be entitled to all of the tights and temedies of theSecured Patty hereunder.Debtot will assert no claims or defenses Dcbtor may have against the Secuced Party against the assignee. The Secured Parcy is hereby authorized to filr a Financing Statement. ^ _ J ` oatobar 5 ~q~ s1~000.00 Fort Pierce, Florida ~ In i v ~5? equal annual iastallm~snts o! $23,000.00 aaoh, aoaesenci~9 n~ ~l ve3~, after date, I, we or either of us promise to pay to ihe order of ~ AND NO 100--------------------------[7pLU~itS ; ONE HUNDRSD FIFTBBN THO~S~ ~ y~~~..~`'' ~ Florida 33~50, or such for value received, payable at . F~'t pierea , i ` pt.Ylat plao~ si P~Y~s ~Y ~tAOt 1A ~i~A9 i with inlerest y at the rate of 7'~l ~ per cent per annum until paid; interest payabie a~~lly • from i If defauk is msde in any paYme^t when dve snd continues for 30 days, then et the opfion of the holdu. snd without anY othet notrce, ~ ~II ths remainirg balance sMll be due e~d payabls at once. And esch of ua whetF~er rraker, yv+rantor or endorser, hereby saverally waiva and re~ovnces ~ny sed a I~thort+e~tead and~~~ rfuNMr ~ s ws may haye under the ConstAvtion ot laws of the State of F{orida, w sny olher State w United States, as +g ~ ~ wsives dema~d, noY~ce of nor?~psyrt~ent +nd Rrotest, and in event it bscomes necessuY to colfect this rote through an sttornay. +~ees to WY ~p oosh of ooilectan, includirp res~onabla ~trorney's fee. ~ ~ ~e ~y ~ prspsid In wbole or in p~rt ~t say time without penahy. ~ ~ } + - t 3 ' /s/ George A. Cost~[ ~ - - s~u Hp Dw ( ~ t ~ ~ I. ~ o R : ~ ~ ~ ~ _ ~.~._s - .y_ ~