HomeMy WebLinkAbout0226 ~~i fECUN17r A6REEMEN~ ICNATTEI MORr6AGE1 / 1~AMC0 iOR4 ~Z I
i~ UNIFONM COMMERC14l GODE IIND. ON CORP.1 ,
~ ~4ec~trit~ ~~18reemerit 34E~3:il
(CtIAITF:L 1NUR7~ACE)
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~I ~~~c,, Ri; ~~greemrnt~ made the day oI ~e-~te::~ber i9 ?G
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under the law+s of the state of 1Y'11~~
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~~;C~fUFtti 1!;';,. :I~ z?I^''':)0 T_31sIi~r./'~ J. T~ZOTIDQ~ hi :~~l$lrun cslled the Debc~t •
( whose business address is (if none, vrite "none") 21? Orunre Avenue, Fnrt I~ieree, ?''L
~ 33~50
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~d whose residmce ad~r~ss ~S 4z1 P.edr~ck, Port Ut. Lucie, ^L. 33452 ~
and L•''JCAIi A. ~li~L~J?T`!'~' ~ CCLi~~T:'.'t Gt~11'~J^TT:^'.~ hiS Wlfeherein called tfie Secured Parcy
wrhose address is i~j~%~ i~C~&1T' Road, i~QY`t ..`~it I~UC1@ ~ F''L ? ~~i5~
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~ ~itiussrth: '
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( To secure the payment of en indebte~ness in thc amount o( s~r~ ~ . wiitA interest~ payable ss (ollow+s:
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i '^he ~ur: ~~f ."y374,6 incluc?in~; intere^t :~t 7~: ~~ercent per 8nnu~n on I
~ tne un:~~ i~ ~~rinci ~al t~a. t~ `1C@ ~ co.:L
:encin~; ~n ~
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' ""~e ~rivi le-~e i~ re~erve•~ t~ the *.?ebt~r to p~y al~_ ~r any ~art
; thereof in ~~c?v^nce ~~:ith~iit ~n~ _~en~ lt~~.
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as evidenced by a note or notes of ~ven date hcrea•ith. and also to secute any othtt indebtedoess ot liability of the Debtot
~ to the Secuted Party direc~ ot inditect~ absolute or contingent~ Jue ot to become due. now e:istina or hereafter atisinR. '
~ncludin all [uture a.~vances ot loans a~h~ch may be mA.fe at the option o( the Secured Pany, (all heteinaiter called tk~e
~ Patt'y~ganons") Uebtpr heteby Rrants aMi conveys to the Secured Pany a security intetest in. and mottsaaes to the Secuted
~•~~~i (a) the property described in the sch~.iule herein ('~erei~af~er called ehe collateral). w~hich collateral the Debtor •
teptesents wnll be used ptimarily ~
~ ~(or personal. family or household purposes ~ in farming operations ~ in butiness ot othec use
~ll propeny. goods artd chattels of the same ciuses_ as tiwse scheduled, acquired by the Debtot sab~eyuent to the
e:ecution of this sgreement and prior to its tecm~nation
~ (c) all Qroceeds thereof. if anY.
si (d) all i~(~*OXdE. substitutiona~ teplacem~nts~ Y~[DG](dEJ~ibC3fr]Cdt~CiSdE theteto.
DEB'll'~R WARRAN7S COVENAN'IS AND AGREIS AS FnLLOWS:
To pay ¦nd per(orm all of the obliRations s~cured by this aRrtement aecotdin6 to theit terms.
I To de(ern1 the t~tie co the collateral aRa~nst all pecsons and aRainst •11 cl~ima and dem~nds~ Mhetaoever.whicA ~
collatei~l. ezcept for the ~ecurity int«esc Rrant~d hereby, is levrfully owrned by che Debtor and is now [ree aod cleer of
! any and all liens. s~curity interests. claims, charRes~ encumbrancec, tases and assessments e=eept as may be set lotth
; ' in tht schedule.
On demand of the secured party to do the (ollowinR: fnmish further assurance o( title. e:ecute any wtitten ~Rreement or
: do any othet acts necessary to ef(ectuate [he putposes and provisions of this aRteement~ execute any insttument or state-
' ment tequired by IaM or otherwis~ in order to pecfect, conti~u~ or terminate the security intetest of the Secuted Patty in the
! collateral and pay all costs of filinR in connection thetew•ith. ~
` To tetsin po~session of the collateral .luri~R the e:istence of this a~reement and not to sell, ezehanae. assiRn. loan.
~ dcliver. lease. mortgaRe ot otherw~se dispose o( same ~vithout the w•ritten con~ent of the Secuted Pattr. ;
! To ~tep tht collateral at the location specified in the schedul~ arn1 not to temo~e same (escept tn the usual coutse o( ~
! ~j busine~s for temporaty periods) without che pnor wrieten consent of che Secured Parry. ;
! ~j To Iceep the collateral (ree and clear of all liens~ charges. encumbtances, u:es and asses~ments. ?
To pa y~ ~rhen due. all ta:es. assessments an~f license fees celatinR to the collatetal.
~ To ktep the collaeeral. at Uebtor's own cos[ and e:pen~e, in Ro~1 teE.air and condition and a~ailable (ot inspection by
` i che 5ecured Party at all reasonahle times.
S ~ To Iceep the colla~er:+l (ully insured aRainsc loss by Eirc, the(t and other casualties~ Debtoc shall ~i~e immediate
? wrieten notice to the tiecurcd Party and co ~ntiurors o( loss ot damaRe co the tollateral and shall promptly file ptoofa of lo~s
w~ith insurors.
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; THf:' PARTIF,S FUR I7~F.R AGREE
s ' 11'ai~er of or acyui~scencS in any default by [h~ Uebtot,or failuce of the Secuted Pattp to insist upon sttict petfortnanee
~ i~y ~}.e Deb•ar of any warrantirs or aRte~m~r.ts in chic ~ecu~ity agr~~men[. shall not constitute a waiver of any subsequent
~ or ottier def~~l~ or '.~i!ure.
; Votices •o eit~~er party shall be in wtiunR an.1 shall be delivere~l personally or by mail addfessed to the party ~t the
? addtess her~i~ set mrth oc otherwi~e desiRnated in writing.
~i The L nifotm Commercial Code shall Rovern the riRhts, duties and remedies of the paaies end any pto~isions hetein de-
,j claree inralid unde: s~y law shall not in~aliJate any other provision or this agreement.
Thr (oliea~in~ si+all constitute a de(ault by ()ebtot:
I; F~il~ve to pay the principai or any insealimene ot ~+rincipal or of interest on the indebcedneas or ~oy notes whm due.
~ai;ure by Debtor to comply acith or petform any prov~sion o( this aRreement. Fslae ot misleadina teptesentations or wat•
ranrie~ made or Riven by 1)ebtot in connection aith this aRr~ement. Subjection of the collateral to le~y o( t:ecution ot
other jud~cial process. (:ommencement o( ~ny insolvency proceedinR by or ~Rainst the Debtot. Ueath o( tbe Debtot. Any te-
duction in the value of the collatetal ot any act of tht Uebtor which imperils the ptospect oE full perfo[mance or satisfaccion
II o( the Debror's obli~t acions hertin.
i~ Upon any default o( the I)ebtor and ac che option of the Secured Parcy. the obliastiona securcd by chis a6reement shall ~
w' demand and che Secured Patt shall ha~e all th~ ti hta rem- t
~m d~a el become due and a able in full ~thout nocice oc 6 .
, ~ me ~ t Y P Y Y
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' edies ar~d pri~ileges w~itfi tespect to repossesiion, retention and sale o( the collatetal and dispoaition of the ptoceeds as
; i~ ace accotded by the applicable section+ of the U~i(orm Commercisl Code rcspectina "Deteult".
~ Upon any de(ault anJ upon Jemand. Uebcor shall assemble che collatetal and m~ke it +vailable to tfie Secured Party rt
' the lace and at the time d~signated in the demand. • '
' " -a~ -!efa;:!:~ ;he ~:::::e•~ par,y's reasonable attomtys' fees ~nd tbe leaal and othec e:pmsta (or putsuina, ~
; i~ seatch1na (ot. ceceiving, talcing. keepinR. storinp, aJvertising~ and selling t6e coilaterol shall be char6eable to the Debtoc. ~
; The Debtor shall remain liable fot any def~cieocy cesultinR (eom a aale o( the collacetel and shall p~y any su¢h de• ~
~ ! ficiency for~h.vich on demand. <
? !I I( the Debtot shall Je(ault in the per(ormance o( any o( the ptori~ions of this esteement on the Debtot's patt to beper- '
j! fotmed~ Secured Party may per(orm same for the Uebtor'a account and any monies e:pended in so doina sh~ll bechatRe~ble '
with intecest to the Uebtor arxl added to the in~iebtedness secuced hereby.
€ The Secuted Patty is hereby authocized w(il~ a FinancinR S~acement.
BOaK~~V PACE