HomeMy WebLinkAbout0915 SECURITY AGREEMENT
, (GENERAL)
EXHIBIT "A"
FQUR T fROVFS ~ INC. AND D. J. IZIt~IENATOS AND SOPHIE S. TZIMEN4TOS
(and ii mor~
[Name(s) of Borro+.cr(s)~
:h~n one, each of them joi~tly and se~eralty), here:natter estied "Borrower', ot P• 0• B~X 2146 Fort Pierce
jNo. and StrcetJ (City)
St. Lucie Florida -~"`"°"r
- , for vsiue receivcA, hereby gnnts to
AMERICAN ~o~ 6ANK dF MART(f~i CQUNTY [State]
_ n , hereinatter uttsC "Stcer.¢d Par.f', a seturity ir„ttcst
ro~row;~x P.oP~Rr Al 1 ci trus crops now qrowi nq or hereafter pl anted, grown or produced wi thi n
seven years of the date her•eof on 50 acres of land located in St. Lucie County, Florida and
- - ~
further described in ~xhibi~t "A-1", attached hereto and made a part hereof,
tcpether with alt accessories, paRs, equipment, snd aceessions t?ow attatheQ to o~ useC rrt toqneciron ihe~ew:in or «i.:c;. ::..y 3.~:~a e; a::J r?:~_:
ir. or added to the above-deuribed propeRy, and atso sny and all repiacements of any such property (all ot wAkh is Aereinafter tatled ••Collateral'7, io secure
'=e ,~aymrat of that certain indeblydness ewdenced by a promissory note or noles executed by Borrewer in th~ amount d Thi rtY Thousand and
n41100ths oo~~an 30,000.00
cs
of c.en ~ate herew:th, and any and ali e~tensions or renewals thereof, and any and all other IiaDitities or obl:Yatioos of the Borrower to the Sccured Party, direct
cr irdirect, aLcolute or contingent, nnw existing or Aereatte? arising, now due w hereafter to become due (atl hereinafter tatied the "ODtigations "j.
Bnrro.vnr hereby warrants and agrees tha~
1_ The Co~!ateral is acQuired o~ used primarity for. personsl, family, o~ househofd purposes; ~ busincss use; or ~ farmir.a operations; and, t}
~.ectrd here is Deing acquireA with the proceeds oi the loan provided for in or secured by this agreement, and the £ecured Party msy disburse such
p~v.<eds or any part lhereof directly to the selier of the Collatersl.
2. The Cotlaterai will b~ kept st-_ Kl r1QS H1 Qflhla~/ and Okeechobee Road, Fort Pi erce, Flori da ~ or it leR bfank at
INo_ and Streetl [Cityj [County] [Stat~]
;~e address shcwn st the Deginnin~ ot this agreement; Borrower wilf prompt~y notify Secured Party of any change in the location of ihe Gotiaterai wiinin said
state; and Sorrower wi11 not rcmove lhe Coitateral irom said state without the wririen consent oi Secur~d Party.
3. Ii tAe Coltateral is acquired or used primsrily to~ personal, family w householQ purposes, or for tarmin~ operations use, Banowers ~csidenc• in
j Ft~rida is lhat shown at the beginning ot this agrcement and Borrowar will immediately notify Secured Party ot any change in ihe location of said resiCence.
i 4. !t the CoNateaal is to be attached to real estste, s dcscription ot the re.i estate, iocated in S~. ~-UCl Q ~ C~~nty,
~ Fi-.r;da, is as foftows• aS described in Exhibit "A-1", attached hereto and .made a part hereof.
~
-dtfienarr.eofthehnowncwnerFsr J. Tzimenatos and Sophie S. Tzimenatos
~.j ~i the Coilaterai is attached to real eslate prior to the periectipn ot the sccurity interest granted hereby, Borrower will, on Aemand of Secured Party, fumizh
"e I.~tter with a Cisclain~er or ~sctaimers, signed by atl persons havinQ an interest in the real estate, of any interest in the Coltaferal that is prior to Secu.ed
~::r2y'S inlsrtSL.
, S. tf the Cullateral is acquirrd o? used primarily for b~siness us~ an0 is ot a typ~ normslly used tn more than on~ state, whether or not so uscd, and
~~r~..er has s ptsce o1 Bus~ress in more than one state, the cAiet p(sce of business ot Borrower is: NQt anpl i eabl e
[No. snd Streetj
- . or.
iC'tYI (County] [Stat~j
~f ieft btank, is t?.at sho«n st the beg~nning o1 this agr~eme~t, and Borrower wlll immediately notify Secured PaRy tn rvrit~ng ot any change in Borrowers chie!
:.'-ce of business; and if ce~tificates ot titte are 3xucd or outstandin~ with respect to any of the Coltateral, Bor~ower will caus~ tbe lntrrest ot $ecurtA Psrty t0
te properly noted lhe~eon. ,
~ 6. Eaupf for the security interest gnnted her~by, Borrowtr Is the owner of the Cotlateral iree ~rom any adverse lieo, security interest. or encumD:anc~;
~ ::r,d 9orrewer will defend the Collateral agsinst sll ctsims and demands ot att persons at any time claiming tAe same or any interest thereon.
i 7. flo Fir.anc~ng Statement cove~ing any Co7lateral o~ any proceeCs thcrco! is on file in any public olfice; Borrower au;horiies SFcured Party to f1e, i~
i y~~;zdkS:ans v.?~ere tAis authoriiation ~.rill be given e:fect, a Financins Statement s~gned o~ly by the Securod Partr c~escribing fhe Co11aleral in tfie same manner
~ rs tt is Ae~cr~bed he~ein; and from time to time st the request of Secured Partr, cxecute one or mo~e ~nsncin~ Statements anE sucA other documer.ts (and
( pay tAe cest of filing or rccord~ng tAe ssme in all public otfites deemed necessary or Eesitab~! by the Secured PaAr) snd do such other acts and thtngs, ~II
rs ihe ~ecured Party mar reQuest to establish and maintain s valid security interest in the Collateral (free of at1 other Iiens and ctaims whatzet•er) to se_ur~
ft•e rayment of the ODt:gationz, inctuding, w;tAout timitation, Ceposit with Sc~ured Psrty of anr certifcate of titte issuabSe with respect to any of the Co!lateral
i n~d not3l~on tl+erecn oi the s!writy interest ~ertunder.
~ 8. Borro~er w~11 not s!tI, transfer, tesse, or otherwise Cispose of any of the Col:ateral or any inte.esT therein, or ofier so to do, without the prio~ wriften
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