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Home My WebLink About1416 ~ (~ncluding all cssh. stock and other dividends snd ali rights to subscribe tor securities incident to. declared or granted fn connettion with such prope?ty), which property, together with all additions and substitutians hereafter pledged or deposited with Bank is called the Col- ~ laterai. The Collaterai is also pledged as security for all other liabilities (p~imary. secondary, direct, contingent, sole. joint o? several). due or to become due or which may be herea~ter contracted or acquired. of each Maker (incfuding each Maker and any other personj to Bank. The surrender ot this ~ots. upon payment or otherwlse, shall not affect the right of 8ank to retain the Collatersl for such othsr liabilities. CRE~IT LIFE ANO CREOIT LIFE i OISABILITI/ INSURANCE ARE VOIUNTARY AND NOT REQUIRED FOR CREOIT. Such Inwranc~ eow?sp ava~~apN ~t tM ~ cost designated below for th~ t~rm o( tM thd~t: i fot Cndit Lib Insursnc~ (b) i for Chdit UN i OlsaWllty M~Iw~nt~ ~ Cheek ~ Credit Lif~ Insursnc~ Is d~sired on th~ 11f~ o~ BIRhd~b ~ ~ APP~- ~ Cndit Lit~ Qa D1t~bflity Insu~int~ It d~sit~d on ~ eox ~ ~ Credk life and/or Dissb~lfty Inwranu Is not d~sirod. ~ c~,ta September 14, 1973 ~s;s~,~on~ ~ Additions to, rWucdons or ucchan~~s of, w substitutions tor tM Co~latenL payments on account of tAls loan or inenss~s of th~ sam~, o? oth~r ' loans mad~ partisily or wholly upon tM Collstanl, msy Irom time to tim~ be madt without atf~cttng the provisions ot this nots. Bsnk shsil Nc~rcls~ t~ason- able un In tM custody and prsssrvatiw~ of th~ Collstenl to tAe anteM rsquired by applicabte statute, snd shall bs d~emed to haw ~x~rcls~d ressonabb csre If it takes wth action fo~ that purposa ss Maker shall resso~ably request In wAU~g, Duf no om(ssion to do any act not rpwst~d by Malur shaq b~ deemed • tslluro to e~cercise nasonsWs esrs, snd no omissio~ to comply with any roquest of Maker sAall o( itsNf b~ de~med a tallun to ac~rds~ rNSOn- ~ aDl~ can. Bank s~sll ~ot b~ bound to tske any steps n~cessary to pnsen~ any ~i~hts In the Co~latersl agalnst pr~or psRl~s a~d Malc~r shsll tsla all Ma ~ sssary st~ps fo? such pu~poses. Bsnk or ks nominee ne~d not toll~et Int~r~st on or prlrtclpal of any Collateral or ~iw any natk~ with r'~sp~et to k. j . It t0~ Collatersl shsll sR sny timJ Mcom~ unsstistsctory to Bsnk, Mtabr shsll withtn on~ day ~R~r d~mand pl~d~~ and d~posit wiM 6ank q p~R of 1 • th• Collsl~rsl WdRtonal prop~Ry wMch is satisisctory-to Bank + ' i If Bsnk d«ms ItsNf Ins~cun. or upon tM Aspp~olns d any M tM rawwu+s ~wntR ~~tl tonstituh •~d~isult h~nund~?. .dl ~ ~`~i~~'~'II~bItNl~s et ~~cfi M~k~r to Bank shsll thereupon o• lhenaRer, at the optton ot Bank, wltAout notice or demand. becoma du• a~d payable: (s) tsllun o! snr Obl~gor (which term shall mesn and inctude eacA Msker, e~dorser, surety aM sua?antor of this note) to peAorm any a~rNment h~nuod~r, t0 pay interest hereon within ten days after it is billed or otAervrtss requested or d~manded, or to psy any other liabilily whatso~var to Bank whM du~: (b) I the. death pf any Obiigor; (c) •tAe titing.of any petition under th~ Bankruptcy Act, or any similar tederal or state statvte. Dy or ssainst any Obltsor, sn ! applicatian lor th~ appointment ot a recelver for, the making of s g~nerat assignment for the benefit of creditors Dy, or the InsolvMey o/ any Obtl=or, (a) the entry of a judgcment sgainst any OWigor; tn the issuing of sny ariachment or gamishment, o? tha Blins of any Ilen, s~slnst •~y prop~rty ot anY Obtigor, tA~ taking of possession of any substantisl paR o~ th~ property of any OWisor at tAe instanc~ o( any go~~mmsntal sulAority; (h) th~ dls- sotution. m~rser. consolidatlon. or r~o?pnizatlon of any ObliQor, (i) th~ assi=nm~nt by any Maic~r of any puity In sny of tM Collat~nl nlthout tM wrltt~n ~ ~ € conz~nt M 8snk Bank shall haw, but shsll not be Iim~ted to, tn~ following ri~fits, ~sth of wAleh msy bs a:ercised at any tim~ vrheth~r or not thls not~ Is duK (4 ~ to pledg~ w tnnst~r thls note and the Collsteral and 8ank shall thereupoo b~ reliawd oi all dulies snd rosponsiWlities hareund~r and nll~wd irom ~ j any and all IiaEility with respect to any Collateral w pled6ed or tr~nsternd, and any plsdges or transferee shall tor all purposas startd In th~ pl~u ot ~ i Bank hereunder and have all the rights ot Bank hereunder, (ii) to tnns(er the whole or any paR ot the Collate?al irtto LAs nams oi itselt or fts nanlnes; (iii) to vote the Collateral; Crv) to notify the oM~gors on any Collateral to make payment to Bank oi any smounts dua w to becom~ du~ tMrson; (v) to ! demand, sue for, coll~ct, w mak~ sny compromfse or settlem~nt it dt~rns desirabl~ with r~ferenc~ to tAe Collsbral; snd (vq to tsk~ control ot anr p?ocNda ; of Collateral. ~ Bank is hareby siven s lien upon and a security intertst tn sll propertY of esch Obli~or now or at sny tlm~ h~reaR~r in tA~ possesslon of Bsnk 1 in any capacity whatsoewr. Including but ~ot limitcd to any bala~c~ or shsr~ oi any deposit. trust. or age~y sccouM, as seeurity tor th~ paym~nt ot i this note, and a similar lien upon and sccurity interest In all such propeRy of each Msker as security for th~ psym~nt of all other IiaWliti~s of eacA M~ker ~ to Bank f~~udin~ liabiliti~s ot each Maker and sny other person); and Bank shall haw the ssm~ rights as to such prop~Ry as R hss with r~sp~et to th~ Col lat~rsl. If Bank deems itself Insacure or upoo th~ xcurrer.c~ of any deisuk hereunder Bank shalt have ihe remadi~s of a secund party undq tM Unl- torm Comm~rc~sl Code and, witAout limitins the gene~ality of the toresoing, Ba~k shall have the right, immediately and vrithout furth~r acNon by If. to - set off s~ainst this note sll money owed by Bank in any capacity to each o? any Obtigor, wheth~r o. not dus. and slso to set oH sgsinst stl other ~ tiabilities o/ ~ach Maker to Bank all mo~ey owed by Bank in any capscity to each or any Maker, and Bank shsll be deamed to Aavs enercls~d such ! right oi setoft and to have made e charge against any such money immediately vpon the occurrence of such detauR even though such charg~ Is mad~ or entered on tM books o1 Bank subsequent ihereto. Unless the Cdlateral is perishable o? threatens to decline speed~ly in valua or Is of s typ~ cus- ~ tomarily sold on a recognized market, Bank w~ll give Maker ressonabl~ qotice o1 l6e tim~ and-p~xw o( •nr puMie sa1~ tMr~of o? ot th~ tim~ ~h~? whle6 ` ~ -enr privat~'sal! or ~ny other Intended dispositlon thareof Is to b~ msd~. The requirem~nt of nasonabb noti~e shall W met If such oatic~ Is mailed, • postaQ~ prepald, to sny Maker st the sEdress giwn below or at s~y other addre~s shovrn on the ~ecords of the Bank, st lesst flw dsys be(on t!N ttm~ of tl~e sate or disposition. Upon disposition of any Coltataral aker the octurrenca ot anr .:efault hereunde?. Maker shall b~ snd remsin IiabN tor sny ~ deficiency; and 8ank shall aecount to Maker fo? any surplus, but Bank shall haw tha right to apply all or any part oi such surplus (w to hold ttN sartN as a?~servs againsf) any and all other liabilities of eacl~ or any Maker to Bank. No delay or omtsslo~ nn the part ot Bsnk In e•ercisins any right henunder shsll ope~ste as s wslver ot such ~ISM w of ~ny oth~r ~ISAt under this nat~. Pns~ntmeM, demsnd, protest, ~w4fce ot disbonor, snd ~ntension o/ tim~ witbout notice ar~ hereEy waiwd by esch and ~wry Obligor. Ths Obti~ors, ~antly and saverslly, pmmise and apee to Day all costs ot colladion and attomeys' fe~s equal to l~~p of th~ princlpsl sum or such lar~er amounts as msy b~ reasonabl~ and ~ust Incurred or paid by Bank In en(orcing thls note upon th~ xcurrenc• of any d~fauH. My notlt• to Mak~r shsll ' be sufTicientl served for all ur ses I( laced In tl» mait, ts • r~ ald, sddr~ssed to or left u the unls~s a~ th~ ~ddr~ss shown bda+ or ~nr Y P Po P P~ 6 D P ~ w i oth~~ aeeress shown on eank's recores. C A VANDFRLUGT Malur ~cknowledg~s r~ulpt oi s tompleted copy oi thts Not~ on th~ abov~ dat~. Rt 3, Box 501 Fort Pierce ~ ~ i ADDRESS: c ~z ~•~~<!rf (SEAL~ ~ ' . i (SEJ?tJ ~ , ~ ` - ~ (SE/W ~ , ~ . _ 5 i ~~~~y `I~~~ ' t ~ y~ ~ ..s . < ; T~.~ - - - ~~~F. 23~ ~4~5 ~ ~ ~ _ ~ ~ - ~ ~ . _ . ~