HomeMy WebLinkAbout0753 • , iLCY1~ITV AQ1~[ENEN~ ICNA~T[l YORT6AfiEI ' A~YGO iORM ~
A- ~ ~
~INIFORN COW1[RCIAL COO~ liNO. 011 CORP.1 f~/
~~c~~ c~1~Enc~nt ; 28~80;~
( CHA ITEL MOR7~AGE)
29t3i21 ~
~jhts C~areeutent, ~aa~ c~~ 2.~.~ a.y oc Juiy ~74
under che laws of che st~ce oE F10Y'ld8
~eflvEttt Gulfstream Broadcasting Co. , Inc. , tl heraa called the Deboor
„ ,~Iorida Corporation
~rhose business a~dress is (if noae, wrica aoae )
5149 N. E. 1Zth Avenue, Ft. Lauderdale, Florida
aad whose resideace addcess is _ SS1Re
aaa First National Bank $ Trust Co. , Washington~a hece~a calted d~e secured Parcy
ahose address is 200 West Beau Street, Washington,
Pennsylvania
i ~it~~p~~th: - _
To secure che papmeac of an iadebcedaess in che amouac oE = 1 SO ~ OOO. ~~tb intecest. payable ~Qd~Qx~CX
in accordance with the provisions of promissory note of even
date, a true copy of which is attached hereto and marked Exhibit
~~A« ,
~
R~7Ym 1N PAYIAOR OF TAX~
I 01~ ON CtASS'"C' IlfTMIGIBLE PER90~iA1 PROPERiY,
PUR611ANT TO p'.~!'~~` 73•13~. 1CTS Of 19/l.
RGt;ER POI1~A';
CLERR CIIiq11T OOURT. Si. WCIE 00, fiA
?@XX91~R7(4k~jf3C~C4PX~lU(9i4~7E~]f4QK]~(4C~R'lti7F](~G ~d also co secure sny ocher iodebcedaess or liabilicy of che Deb:or
to che becured F~cy diccct ot ia.:iret:, absalutr ar zontiagene, due o~ tc• beeome due. now e:istin~ oc hetealcer arisin~t.
~ncludin$ al~ fu~ure sdrances or loaas ~rhich may be made at che opuon of c6e Secuted Patty. (all 6eceiaafter called the
obligauons ) Debtor heceby gtants and conveys co the Secuted Patty a secucity interest in. sud moctgaaes to t6e Secucc•3
Paccy.
(a) the property described in che schedule herein (heceinafter called che collaceral). which rnllateral t6e Debmt
repteseats w~ill be used primarily
~ for persoaal. family or household pu~poses ~ in fumiaa operations ~ ia business or other use
(b) all property. aoods snd c6atcels of ~he same classes as tl~ase scheduled, acquiced by the Debcor subsequmt co t6e
ezecution of th.s agreement and prior to its tecminacioA ~
(c) all ~~oceed~ theteoft if any,
(d) all incceases~ subscuutions~ replacements. addi~ioas and accessions t6eteto.
DEBTI7R WARRANTS, COVENAIV7~ AND AGREFS AS 1~LLOWS:
To pay aad pecform all of che obligaiions secured by this aareement accocdin6 to their terms.
'i To defeod the cide to che cotlaieral against al[ persons and againsc all claims and demands, ~?hacsoeveq which
i collaceral, ezcept fot the ~ecuricy incerest araaced hereby, is lawhelly owned by che Debtoc and is aow fcee aad clear of ~
' any sad all lirns. security incerescs. claims, c6arges, encumbanees. cues and assessments e:cept as may be set forth
ia t6e sc6edulc.
Oa demaod of c6e secured parcy co do the Eoilowing: fumish further assucaoce of citle. ezewte anp writtea agreement or
~ do any oehec accs necessary co effectuate che pucposes aad Qto~isioas of c6is agreement, ezecute aoy insuument or state- :
men~ required by la~r or oc6erwise in oeder co pe~fect. coatinue or cerminace thc security iatetest of che Secured Party ia the
c collateral aad pay all coscs of fiLng ia conaection theaWit6. ~
?o atain possession of che collateral ducing ~he etistence of t6is agreement and not to seil, ezc6aoge, assiga, loan.
deliver, lease, moaaage or ocherwise dispose of same vit6cut the wtitten conseat of the Secured Pacty.
To keep che collateral ac the locacion specified in the s:~edule aad not to cemo~e same (e:cept in the ususl course of
business for cemponry periods) wiehout tht pnor wriarn consene oE the Secured Patty.
To keep the collateral free aad ckar of all lieas. chsrges~ mcumbrances, ta:es and assessmeats.
To pay. Wheo due. all tazes~ assessmencs aod licease fees celatioa to t6e collateral. ~
~ I Ta Iceep che collateral, at f~ebtor's own cost and ezpense, in good repait aod coaditioa aod availabk for inspeccioa by ~
~be Secured Party at all reasonable times.
~ Tu Iceep t6e collaienl fully iosured against loss by fiee. cheft snd other casualcies~ Debtor s6all give immediate 4
wricceo notice co c6e Secured Party aod co insutors of loss or dama6e to the collaceral and sball ptemptly 61e ptoofs of loss ~
with insurots. `
-i THE PAR77FS FURTHER AGREE
C
7n pai~er of or acquiescence in any default bq t6t Debtot,oc failure of che Secured Party to iosist upon strict per[ormaoce
Z by che Debtor of any warrancies ot aaceements io t6is securicy agreement. s}~all noc ceosticute a wu~er of any sabsequmt
or other default or failuce.
,T ~ :~tocices to eicher patty shall be in writiaa and shall be delivered persoaally ot bq mail addressed to t6e pa~ty at the
C~ address hei~in sec Eocth oc otheracise designacrd in wtitia6.
O The Uaifocm Commercia! Code shall 6ovem che rishts. duties and remedies oE the parties and any pro~isioas 6erein de-
-i m clared iovalid uader any !aw s6all not invalidate any otbet provision or t6is ~greemeot.
r- ~ l~e folbwing shall consci:ute a defaulc by Debwc:
~ y Failure to paq che principa t or any usstallment oE priocipat ot of interest on the indebtedoess or aay no~es when due.
~-9 Z Esilure by Debcor to compiq witb or perfotm any pm~ision of this aareeiamt. False or misleadina regresmtstions or wac-
tanties made or givrn by Debtor in conor:tion ~vith chis agreemeet. Subjectio~ of c6e collaceral to le• of e:ecucioa or
~ O m other judicial process. (:ommeacemeat of anq insolveticy peoceedina by ot agunst the Debtor.7L~~1K~c~~~LAnpXc1GX
V ~~j~~~~~~g~~~~xact of theDebtor wbicb imperils the peospect of full perfotmance or satiafactioa
r- ~j Z o e Debcoc s o L atioos hete~a.
X~ Upo v any defau~c ot the Debtor and at c6e optioa of the Stcured Pacty, tbe obligacions secured by chis aareemmt shall
immediately become due aod payable in full without notice or demaod aod t6e Secuced Paay s6a116ave all the ria6ts. rem-
'r` edies aod priaileats witb cespett to tepossession, tettatioo and aale of tbe collate~
aI and d~sposition of the ptoceeds as
O~. ~ a:e accocded bq the applicable sectioo~ of che ~Jaifoem Commercial Code sespec tina Default
- o' ~ U any default aod upon demand, Debtor shall ass'anble t6t coUateral and ma{ce it s~ailabl. to thc Secured Patty at _
~ a the pace aad !t t6e time desigaated in che dmand.
> ~ Upoa any default, che Secuced Paccy's ceasooable attomeys' fees aad che leaal aod ochec ezpmses fot pursuina. ;
~ searching Eor. tecei~ina. cakin~. Iceeping. swciog, ad~eaisia . and sellins tbe collatenl shall be chatgeable t~ the Debwt.
V The De6cot shali rtmain liable for any dcficiency resu~ana r~~ a sale of the collaceral and shall pap any suc6 de- }
- % Eicieocy forth~vit6 0o demaod. ~
' > If che Debtor shall default in che performaace of~ ae~y of the pro~isions of this sareement on che Debcoc's pan co bepec-
' (o ed, Secuced Paay may perforni saa~e for che Debcoc s aceounc aad any monies ezpeoded ia so doina shall be c6araeable
J wi~ incerest co cbe bebtor and added co che iodebte~aess secared hereby.
~ - T~e Secared Parq ia hereby auc6orized co file a Finaocios Scacrmen~. U R t1
~ ~ BOOx ~U PA,E 3~
: ~ooK 231 ~A~ 753
- - _
-
~ -
. _ ~ $ _ ~