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Home My WebLink About1412 , ~ ~ (including all cash, stock and otAer dividends and all rights to subsc~ibe for secuiities incident to, declared or granted in coneection wlth such property), which property, together with all additions and substitutions hereafter pledgtd or deposited with Bank is calied the Col- laterat. The Collateral is also pledged as secu~ity for ali other liabilities (primary. secondary, direct, tontingent, sole, jo7nt w sevenl). due or to become due or which may be he~eaiter cont?acted or acquired, ot each Maker (including each Maker and snr other p~aon) to Bank. 7he surrender of this note, upon payment or otherwise. shall not sifect the right of Bank to retsin the Coliate?al iw such other liabilities. ' ~RE~IT LIFE AND CREDIT LIFE 6 DISABIIITY INSURANCE. ARE VOIUNTARY ANO NOT REQUIRED FOR CREOIT. Such insuranc~ eowrap Is wst~sD~s st tIM cast d~signsted betow for tha l~rm ot tAe cndit: (a) Z. fo~ Cr~dit Ut~ Insurance (D) ~ iw C~dit Lih 6 WsaeHity ~nsursnu - Cheek ~ C~it l'+te insurants is desired on tAe life oi . App~• ~ Cndit lit~ 6 Oisability Insursnt~ IS desired on Box Credit Ui~ and/or DisaD~lity Insuranca is ~ot desi?ed. cD~t.~ D___mh _r 29~ 19T2 cs~s~~~~•e~ Additions to. ?eductions w exchanQes of. o~ subst~tutions tor tht CollatenL p~Yments o~ sccount of this ban or incrtas~s of th~ sam~, M otMr loanf made psAially or wholly upon ihe CWlateral, may trom time to time be made without afiatting the provisions ot this not~. Bsnk sh~U ~xercis~ ~safot?~ sWe csr~ in the custody and p?eservation of the Cotlsteral to the extent ~equired by appticable ststute, snd shall bs deem~d to hav~ uereia~d nssonsbN can If it tskas suth action for that purpose as Msker sha11 reasonably request In w~iting, but no omission to do any act nat rpuest~d A~r Naf~r sh~N b~ deemed s isiture to exsrcise reasonsWe care, snd no omission to compty with any request ot Maker sAall of itself Ds de~mM a failure M t:arcis~ r~asa~- abl• esr~. Bank shatf not bs bound to take any steps necessary to preserve any ~ights in the Collate~al against prior paRies snd 1~ISker shsll tsk~ atl iwa essary steps fw sucA purposes. Bank or Its nominee need not collect Interest on or printipsl ot any Collateral or giva anr notit~ with resp~ct to K. It th~ Collateral shall at any time become unsatisfactory to Bsnk. Maker shstl'withln on~ dsy aft~~ dcrosnd pled~~ snd d~poslt with 8ank as p~R of lhe Collst~ral additional property which is satisfsctory to Bank. . If Bank detms itselt insecure, or upon the happe~ing of a~y o( tha lotlowing avents. eath ot which shsll constituN a detault herlund~r, sll liabltitits of esch 1Aaker to Bank shall thereupon or tAe~eaker, at the optio~ ot Bank, witAout notice or demand, beeom~ du~ snd payable: (a) talluh ot any Obli~or (which term shall mean and inctude exh Maker, endorser, surety and ~ua~sntor of this note) to peAorm sny s~titm~M Aetwntl~r, to pay IMerost herw~ within ten days after ft is billed or otherwis~ request~d or demanded, w to psy sny olher Qability vuhatsow~r to Bsnk wh~n dw; (0) T tM d~sth of any Obligor, (c) tha filing of sny petition unAer th~ Bsnkruptcy Act or aoy similsr fedcral or stst~ statute, by w s~slnst sny OWisor, an ~ sppNCatlon to~ tM ~ppointr*?~nt of r r~e~iv~t for, th~ making oi a ~~nenl sssignment tw ihe b~n~~it d e?editws by. or tlr insolwney d sny OWi~or; ~ . th• ~nlry of a ~uds~m~nt ssainst sny Oblitw: th~ i:suln~ ol any ~ttscAment w~amishm~t, w tM filins of sny liea. asalnst ~ny prop~rty of ~ny Obligor: fg) the lah~ng ot possess~on of any substantial paA o1 the propeRy of any Ob~igor at ihe i~stance o1 any gove.nmental sutho.ity: (N) t1N dis- solution, merger, consolidst~on, or•reo~ganiaation of any Obligor; (i) lhe sss~enment by any Maker of any equity in snr o1 th~ Collstersl without tM rrrittao consent of Bank ' Bank shall have. but shall not be t~mited to, the tollowing rights. each of which may be exercised at any time vrhether o~ not thls nOte is du~ (4 j to plsdge or transfer this note and the Coltateral and Bank shall thercupon be ~elieved of all duties and responsibilities hercunder and rsR~v~d irom ~ any a~d all liability with respect lo any Collateral so pledged or transferred, and any pledgee or transterre shall for all pu~poses stsnd ln th~ p~at~ ot Bank hereu~der and have all the rights of Bank hereunder, (ii) to transier the whole or a~y part of the Collstenl into tha name ot itsNf or its ~omin~e: ' (iii) to vote th~ Collateral; (iv) to notify the obligo?s on any Collateral to make payment to Bank oi any amounts due or to become dus therw~; (v) to ~ demand, sue /or, collett, or make any compromisa or settlement it deems desirable with refere~ce to tRe Collstersl; and (vi) to take co~trol of seY Proceads ~ of Collaterat. Bank is hemby given a lien upon and a security interest in alI propcrty of eacA Obligor now or at sny tim~ hereaRe? in the possessfon ot Bsnk ~ in any capacity whatscever, including but not limited to any balancs or share of any deposit, trust, or agency xcount. as security for the payment of ~ this nole, and a similar lien upon and security interest in all such propeAy ot each Maker as security lor the payme~K ot all otAer liabilities of eath Maktr ~ to 8ank (i~cluding liabiliti~s ot each Maker and any other person); and Bank shall have tl~e same rights ss to such propeRy as it has with r~sp~ct to tM Collat~nl. If Bsnk deems itself insecure or upon the xcurrence of any defsuR hereunder Bank shall have the ~em~dies ot s secured party und~r tM UnI- form Commercial Code and, without limiting the generatity oi the toregoing, 8ank shalt have tha right, immediately .and without (urther sction by it. to set off against this note all money owed Dy Bank in any capacity to eaeh or any Obligor, whether o~ not due, and also to set oN asainst all other 7iabilities ot eaeh Maker to Bank all money owcd Dy Bank in any capacity to each or any Maker, and Bank shatl be deemed to hav~ eaercised such rigM of set-off and to have made a charge against a~y such money immediatety upon the occurrence of such defauR even though such tharge is made or entend on th~ books of Bank subsequent thereto. Unless the Collateral is perishable or threatcns to declins speedily in valw or is ot s t~rpe cvs- tomarily sotd on a recognized market; 8ank w~tl give Maker reasonabls notice of the time and place ot any puDlic saq thereot w ot th~ t~m~ after whlch any privats sste or any other intended disposition thereot is to be made. Th~ requirement of reasonable not~ce shall be met i/ such notics is msiled, postage prcpaid, to any Maker at the address given betow or at any other address shown on the ncords of tAe 8ank, at least five days befon the tim~ . of the sal~ or disposition. Upon dispos~tion of any Collateral after the dtcurrcnce ot any default hereunder. Maker shall De and rcmain lisbl~ for anr ~ defitiency; and Bank shall account to Make? tor any surplus, but Bank shall have the right to apply a11 or sny part of such surplus (or to hold tM ssms as s nserve against) any and atl other liabil~ties oi each or any Maker to Ba~k • No delay or omission on the part ot Bank In exercising any rigt~t hercunder shall operat~ ss s wslver ol such rlgAt w of any ather ~t~fit unA~? ~ this note. Prcsentment, demand, protest, notiee of dishonor, and ext~nsion of time without notice an hereby wa~ved by esch and tvery OW~6a- TM ODligors, iointly and severally, promise and agree to pay all costs of cdfectio~ and attomeys' fees equal to ID~p of the p~incipal sum or such larger amounts as may be ressonable and just incurred or paid by Bank in enfortin6 t1~is note upon the octurrente of any detault. Any ~otit~ to Maker shall b~ sWTiciently served tor all purposes H ptaced in the mail, postage prepaid, addressed to or IeR upon the premises at, tA~ ~ddhss shawn ba~ov+ a ~~ry g --elF~-~dd*r~s~hown o0 8ank'c r~cords_.- - - - - - T--- • Msbr scknowl~dB~s ncdpt ot a comptet~d copY ~ thls Not~ on th~ ~bor~ dab. . . ~ Rt 3, Box 501 Ft Pierce, Florida ~ ~ ADDRESS: ~ 'u~,~~~ ~ (SEAL~ ~ (SEAU 7ti ~ ~ ~ ~ ~ ~ , , . - 8GOK235 PA~1~~ x • . .w- r -.Y''"-W - iw~c ~ ~ ~ , .,~-~J~-;~rt; ~.•cJ ~ .,r, _ •-a.~ .r.-,-• ~ t..e~ ~r? - . -c-.~"~.El1, L'~i - ' ;~.{i! vC .`,t = ~ . . ~ . ..tt' _y. . . . . . _ t,y w~ .~.t~ `J:~~• ~ •Y~ -Ii.~ 5': r. 'GS~. •p'' tt:'~~ • :"ati*~i-.-.. . ..1 . • - ' - ~ . . . . . . . . _ . _ . ~ f -Y .X~