HomeMy WebLinkAbout0153 MiEREAS, as security for th@ loan ~videnced by the note dated June 28, 1979, Florista
Clearing Network, Inc., ~a debtor. granted to The Dania Bank, as secured party, a securfty
interest in the accounts receivable of Florists Cleari~g Network, Inc., said security
interest being evidenced by the financi~g etatement by Florists_Clearing Net~?ork. Inc. to '
~he Dania Benk and its recordetion in the Public Records of Broward County, Florida. and
its filing with the Secretary of the State, State of Floridas and
WHSREAS, as further security for the loan evidericed by the note dated June 28. 2477,~
Buning The Florist, Inc. did make, execute, and deliver to The Dania Bank the guaranty of
Buning The Florist. inc.. abso2utely guaranteeing payment of the indebtedness of Florists •
Clearing Network, Inc. to The Dania Sank in an unlimited dollar amount; and
NHEREAS, as further security for the loan evidenced by the note dated June 28, 1977,
Arthur O. Stone and Shirley Stone, husband and wife, dfd make, execute, and deliver to The
Dania Bank the guaranty af Arthur O. Stone and Shirley Stone, jointly and severally and
absolute2y guaranteeing payment of the indebtedness of ~lorists Clearing Network, Inc. to
The Dania Bank in an unlimited dollar amount; and
WHEREAS, the unpaid principal balance now due on said note dated June 28, 1977, is
S~50,000.00, with interest on said unpaid principal balance having been paid to March 20,
1978: and~ .
WHEREAS, the parties hereto wish to modify the terms of said note dated June 28, 1977.
under the exact terms and conditions which are hereinafter stated and set forth; and
. ViHEREAS, Arthur O. Stone and Shirley Stone, husband and wife, are the owners of a
contro2ling interest in Buning The FIorist, Inc.; and
WHEREAS, Buning The Florist, Inc. is qenerally regarded as the "pareat" of Florists
Clearing Network, Inc., or that Florists Clearing Network, Inc., is a subsidiary of Buning
The Florist, Inc.;.and .
WHEREAS, Buning The Florist, Inc. will derfve substantial and direct benefits if the
terms of said note dated June 28, 1977, are modified under the exact terms and conditions
Which are hereinafter stated and set forth; and ~
t~THEREAS, Arthur O. Stone and Shirley Stone .rill derive substantial and direct bene-
fits if the terms of said note dated June 28, 1977, are modified under the exact terms and
conditions which are hereinafter stated and set forth; and
iiHEREAS, The Dania Bank is willing to modify the terms of the note dated June 28,
1977, under the exact terms and conditions which are hereirafter set forth, provided the
fndebtedness evidenced by said note dated June 28, 197~, is further secured by a real
estate mortqage encumbering certain lands hc•ic', :n fee simple by Buning The Florist, Inc.,
and further"encumbering certain other lands held in fee simple by Arthur O. Stone and Shirley
Stone, husband and wife, and provide8, further, that any rents which may be received from
the lands encumbered by said real estate mortgage be conditionally assigned to The Dania
Bank as additional security for said loanl and
WHEREAS, the parties hereto have agreed that the loan evidenced by the note dated
June 28, I977, shall be secured by the aithin mortqage in addition to the other securities
referred to hereins and
WHEREAS, it is the purpose an8 intent of the within modification and extension
agreement and mortgaqe, plua any conditional aesiqrunents of renta which may be executed
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