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The tecros~ waccancies snd agceemeacs htceia co~~aiaed s6all biad aad inute to the benefit oE che cespective parties
hc~eto. and ~heir respective leg~l represencaci~es. suecessors aad •ssisna.
The &ende~ and number used in this aaceemeat are used •a • refetence term oaly and shall apply ~rith the same et(ect
whether tde p~niesare of the masculine or Iea?iniae 6endeqcorporate orothec fona.~nd che singular shall t~kewise include ;
the plutal. ~
This agreemeac may aot be chao6ed orally.
~~~p~i ~ovisions appear below.
(~jj-, tt'~~ hereof~ the P~nies ha~erespecti~ely si~ed aod se~led chese pceseats che day aad yeat ficst
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abova•vrtitt~l~
' ~ , . • , . GULF BROAD^AS ING C . , I C .
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= " ' ? ~ Pre i nt f
~ • t c~.w.yw~ ~ :Jt~' . q / .
~ : ..'.G: ~,c~,o Secretary ° .
` f 1 ' : ~ . . ~
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State ~~a~~'~`lorida, Cowity of St. Lucie , . .
Before me personally appeared Ronald Crider, President of (~lfstream Broad,~, .
Inc. , who a~~e~~.~h~~~~ ~~~ve instrument for the thei~ei~ ~ y<
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expressed. ~r ~cop~a~issfar ExPlrt~s ~~u~tP~R~ in3~rp 1~~~y~~EDULE ~ ~ . . a0 . _ °
Desccibe it ai~s o-F co~t~e,'~~'!ss'~![r'~~TCem ~ill i 4• ~ ~ . i
amouacs due thereon. If icems ace cwps or goods affi:ed or to be affised co re:l estate d cribe che ce~l:escai ~do
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the name and addcess of the owmet of recoid theceof. ,
Iten~s Location. etc.
Y~....+. nZ~ ~t~
SEE EXHIBIT "B" ATTACNED ,
Additional Provisions ~
Upon default, Secured Party sha11 not declare the obliga-
tions secured hereby due and payable as hereinbefore provided,
unless and until Secured Party has given written notice to Debtor
specifying the default and granting Debtor thirty (30) days within
which to cure such default. If the default is not cured within
said thirty (30~ day period, then at the option of the Secured Party,
the obligations secured by this-Agreement shall immediately become
due and payable in full without further notice or demand.
This Security Agreement is subject to and inferior to a
Secur.ity Agreement of even date given by Debtor to First National
Bank Trust Co., Washington, Pa., to secure a promissory note of ;
~ the same date in the original principal sum of One Hundred Fifty ~
' Thousand Dollars (~150,000.00). Should any default~occur under the ;
i Security Agreement of First National Bank ~ Trust Ca., Washington,
~ Pa., such default shall constitute a default under this Security
~ Agreement, and such default shall confer on the Secured Party here-
~ under the right to declare the entire unpaid balance, including-
~ interest, due on the promissory note secured hereby immediately due
and payable; provided, however, that the option to declare the
~ entire unpaid balance of s~id_~ote due and payable shall not be
exercisable unless and until the Secured Party has given Debtor
written notice of such default and the opportunity to cure same as
provided above. ~
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The chief place of business of che Debtor. iE ocher chan stated in c6i~r aareemeat. is: j
3850 I?tetzger Road, Ft. Pierce, Florida, whose mailing address is:
~ P. 0. Box 1330, Ft. Pierce, Florida.
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