HomeMy WebLinkAbout0294 Sf.CV~~liy AI.Nk_GMlNI Ic~~wfYE~ MJRTGAGEI h4MCV •-•~u EZ /
ut~YFONM ~OMMENCIAI COOE 11ND. OR COfiP.f i~
: ~PCUri# ~ r,~rmeitt
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j' ~E~18 ~~reeinei~t~ made the 22nd ~ay ot M8r'Ch IJ 78 ~
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j~ un.ler che lav?•s of thc stace of 1
; ~ herein cutled ti~e I)ebcor ~
~~~Ct1U?'~lt Fort Pierce Tomato Growers a Partnership ~
~ w•hose business address is (if non~; write "~one") (
~ • P. O. Box 3030, Fort Pierce, Florida ;
' .ui.1 w•hose residence address is (
~~~i Sllri Bank Of St . Lueie County hetein called the tiecur~d !'art}• ~
~ whosc address is ~
111 Orange Avenue, Fort Pierce, Florida !
~~ltlll'851`t~l: ~
lo .ecurr thr p~}•mcnc of an indrbtedness in thr ~moune a( S 5O ~ OOO . vci~h intrresc, p.+} ~blr ~z lollow~-
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_ $50,000.00 plus interest due June 1S, 1978 ~ ,
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. ci ienrrd b} notr ot no[rs of even d.ite herewith. and .~Iso to tircute ;~na• uthet indeb[edness or liabilit~~ of thr hrbtor #
; cu ehr ~rcurrs 1'.~rc~• .tirrcc or indirect, absolu~e or cun~in~;co~, due or co becume dur, now• existinR or hererher ~risin~, ~
; ini;u.linh .ii! futurr a~lc.zncrs or luans w~hich m.i}• be mn.ir at the option o( the 5rcucc~l Par.y~ fal! heteinafter called the
'"uhlt.at~uns") Uebtor hr~eby gtants and con~•eys to thr ~ecure.i f'art~• a securitp intetest in, and moregaRes to th~ Secutrd F
E'atte,
; (.i) thr proprr~y described in the sc6nlule herein (hereinafrer caUed t4e collateral). which collat~ral the Uebtot
: trF~rrsrnts ~~1I be used ptimarily
i ~ for prrconal, f.uni3y or household purposes in fatminK opcration5 ~ in business or uther use
i61 .sll propert~-. guods and chatteis of the same classes as thusc scheduled, acyuired b~~ the Uebtor subsryuent to ~hc j
i rxrr~eion of chi. aFceement anJ prior to its tecminaiion ~
i~~!! rro.redx thercvf, if any. ~ ~
.+i1 incre.~scs, substitutions~ ~eplacements~ additions snd accessions thereto.
,i I~CBIbR WARRANTS, COVENAIVIS AND AGREES AS 170LLOWS:
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"fo p.+}• an~ perform a11 oE the obligations secuted by this agreement according to theit tem~s. i
1.~ defend [he title to the cottaterai against all pecsons and against all claims and demands, whatso~ver, ~hich ~
, cullatrrat, eccepe for the security interest granted heteby, is lawfully ow~~cd by the Uebtor and is now free and cleac of ~
~n~~ and all liens, security in~erests, claims, chatges. encumbtances. tazes and assessments euept as may bc set forch
in the schrdulr.
On .~em.~nd of the secured party to do the following: furnish furthrr assut3nce of title, e:ecute an~• written akteement oz ~
du ..n~ othet accs necessarp t~ effectuate the purposes and provisions of this aRreemont, execute an}• instrumrnt or s:ate-
mrnc :ryuirr.! by taw or othen+ise in order to pecfect. continue or cerminace thr security ir~terest of the Secuted 1'att}• in thr i
.olla;rc.~i .~nd p.~y ~i( coscs of filing iq connection therewith. i
lu rrtain possrssion of the collateral during the ezistence of this aRreement and not tu sell, exchangc. .~ssiRn~ loan. ~
~i.•li ~rr, Ir.ise. mottK.~ge or ocherwise dispose of same without the writteo consent of the Secure.i P:+rey. j
To krep che coll~tera! at the location specified in the schedule ~n.1 not to temoce same (e=cept in the usuai course of '
bu,inc.~ Eor temEwrary periods) wichout the prior Nritten consent of che Secured }'ar~y.
la krrp the coilateral ftee and clear oE al( liens~ charges. encumbrances, taxes and assessments. j
lu ~a}~, ~•hen due, all tares, assessments and license fees relating to the collatetal. !
, lo L.i•r~ the c~~ll.~teral. at U~btor's own cost and expense, in goal rep.iir and conJi[ion arn1 acai(able for in+pection b}- 1
c~ ~c:urr~l !'art}~ a~ all reasonable cimes. !
C~~ lerp the cotlateral full}° insurt3 against loss b}• fice. theft and othet casualties, Uebtor s'~all Kice imme.iiate ;
w:icten notic~ to che Secuted Patty and co insurots of loss or damage to thr coll~tera! and shaU prumptly file proofs of luss +
ui.h ~ntiurors.
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; THE PAR I7FS I~UR 1 f IER AGRFG j
4.ti~rr of or acyuiescence in any.default b~ the Uebtor,or faiiore of the Jecured Party to insist upori s[rict perfotm:uice ~
hy~ che Uebt~r uf an}' warranties or agreaments in this securiey agreement. sha(t no[ consticute a waia•~c of an}' subsryuene i
or uchc~r dcfault or failute. ;
~utica•s co cither party shall be in w'riting anci shall be deliveted pecsonall}• or b~- mail addtessod ro the p.stty at the ~
.+.i.ire.~ hcrein set forth ot otherwise designated in wtiting. ~
; The l'nifocm Commetcial Codc shall govem the rights. duties atwl remedics of the partie~ and any- pro~•isions hcrcin dr
~ cL~red inc.?lid under .~ny law shall not invalidate anp othec provision or this aFrecmcnt. ~
ihr follow;r,K shall constitute a default by llebtor: ;
f~.+::urr to p..}~ *.he princip al ot any installment of principa( or of enterest ~n the indebtedness or any noces whrn due. '
! F.+ilurc by [)ebeorto comply with or perform any pcocision of this aRreement. Ealse or misleading representations nt war- ~
~ rantirs made or Rice~ by Uebtor in connection with this aRreement. Subjection of the collaterai co Icvy~ o( e:ecation or (
i other judicial process. Commencement of anp insolvency procecdin~, by or against the Dcbtor. Ueach of che Debtor. ~1nc te-
.~ucrion in theta]ue of the collateralot any aet of theUebtor .~hich impe:ils the prospect of full performance or satisfaction
~f shc 1)ebtor's obliRatiuns hercin.
li~wn .~ny deiauic o( the Uebtor and at the option of the Secuzed Party, the obliRations secuted by this ag~eemrnt shall ~
imr,u~~atel}• become Jue and payable in full without notict or demand and the Secuced Patty shall h5ce all the rights, rcm-
edie~ .in~l i ricileRcs w~ith tespect co repossession. retention and sale of the coltatetal and disposition of the prviceeds as
+~se .sccorde~f b~• .he applicable sections of tfie l3oiform Commercial CoJe respecting "Uefault".
, [;pon a:~y defauit and upon Semand, Uebtot shall assemble the collaieral and make it available to the Secured Paay et
thc pi.~ce• .+rxl :+t the time JesiRnated irt the demand. !
1;pon any~ .ic~au::, thc Secured Patty's rensonable accotneys' fees .ind thc 1c~a1 aod other ezprnses for pursuinR. !
se.+rch~nK for, recei~•ing, calcing, {ceeping, storinF, adcertising, and .eiliag the coltate~at sha11 be charReable eo the lleb:or~ ~
l~he Uebtor ::h.~ll tcmain liable for any deficiency resulung feom a sale of the collateral and shall pay an~ suc6 3e-
ficicnc}• forthwith on demand.
! If tttc 1)ebcorsha!! default in rhe petformance of any of the pzo~is~ons of this agreemcnt on the Ueb[or's patt to bep~r-
formcd, ~ecuced f'a:tq may pe:Fozm same for the Uebtor's account and an}~ moni~s uptnded :n so doing shaU becharaeable
+ic6 interest to the Uebtor anJ added to the ~ndebtedness secuted herebe-.
~lhe ~ecured Patt}- is heteby authorizeS co file a FinancinR Statement.
6~RK 2~~ Pl,GF 2vQ4
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