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Home My WebLink About0531 itCV1~ITV A~RtCM[NT ICNATTtL MORTiApf1 ~ • UHIR0I~M COM1AtRC1AL GOOt lINO. OR CORP.I ~ .~UA~y~~ ? . . R~MCO IORN ~1 , VV ~EC""`~ ~1~PritElt# ; (CHA7TEL MOR7IGAGE) ~ . . ~ i ~his ~greemeni, m.a~ c~~ 7th dey of April ig 7g ~ ; uada d~e laws of the st~te of Florida - _ ; ~P~pPtt RIVERHOUSE CORPORATION, a Florida corporation, , ~ hereia called d~e Debaor t . ~vhosc busiaess address is (iE none, arite "noae") .75 At13Iit~C Avenue, Fort Pierce, ~ Florida 33450 ~ ~ aad wtwse cesidence addtess is ~ . i and FRANCIS W: ~FTNNIMORS hereia called che Secured P:uty ~ . , .~hose ~ress is . 75 Atlantic Avenue, Fort Pierce, FL 33450 ~ - ~ € , f- } ~~tnP~s~th: ~ ; To secvte the paymeac ot an indebtedness in the amount of 237 , 500. OQ ~vith interest, ; ~ayable as folloR?s: ~ ~ ~ ; Interest only payable monthly beginninq one (1) month from date of recording of the $237,500.00 mortgage, a principal payment of $10,000.0~ on January 2, 1979,~and interest only on the unpaid . balance payable monthly until one (1) year froan recording of mortqage_; comvaencing thirteen (13 ) months from date of recording f of $237,500.D0 mortgaqe, the unpaid mortqage balance of. $227,500.00 S will be amoritzed in one hundrecl twenty (120) equal monthly in- ~ stallments of $2,851.22 including interest at 8-3/4$. - .s i ~ This security aqreement is qiven as further security for the above indebtedness evidenced by a pranisaory note, the maker of ~ which is RIVERHOOSE CORPORATION, a Florida corporation, which pro- ~ missory note is further secu=ed by a_mortqage deed encumbering = real groperty of even date herewith. ' t ~ ~ as evidenced _by s aote or cwtes of even date h~repith, aod also w sec~e anq ot6er iodebtedness or liabilitq ~ of tbe Debwt to che Secnred Partq d"uect or iad'uect~ absol~e ot contiageat~ due or to become duc, ao~r ezisting ~ or heres~fter atisiog, inclnding all futuce adraaces or loaas ahich maq be made at cbe oprion of tbe Secnced € Party, (a11 6ereinaker calted the "obligatioas"j Debtoc 6creby grants and coa~eys to t1x Secured Party a ~ secntity interest in, and mottgages to the Secuted Party, ~ ! (a) the propetty described ia the schedule Lenia (htreinaf ter called the collateral), ~vhich collateral tbe - s ~I( Deboor represeets will be used primarily ~ (I ? for personal, Eamily or household purposes ? in farming operations ~ in busiaess or other use ~ (b) a!1 pcoperty~ goods aad chattrls of cbe same classes as those scheduled, acquired by the Debtor sub- ; sequent to the ezecution of this agreement and prior oo its_tecmiaation - ' ; (c) all ~uoceeds theceof, if aay, (d) all iacceases, substitutions, replacements, additioas and accessions therew. ~ s DEB7IDR WAR1eA1N7'S, C~OVENANTS AND AGRF.ES AS F1C»LLOWS: ~ To pay and pertomo all of c6e obligations secured by ti~is aareement acrnrdin to theie tecma. ~ To defend tbe ~itle co the collateral aguosc all persoas sad aaaiast ai~ daims and demands w6atsoevec~ whic6 • ~ collatetal. e:cept for the securicy iatcrest granted 6etebq, is lawfully owned by the Debtor aod is now ftee and clear of soy and all liens. security intecests, claims. chacges~ rncumbrancea, tazes aad assessaotnts ezcept as may be set fortb ~ in tbe schedule. ' On demaad of the secured parcy to do ehe follo~riag: fumish Eurther assurance of ucle. ezecuce anq aritteo agreement ~ or do aoq oiher sc~a necessary oo effeccuate che purpo ses aad provisioas of tbis saceemmt~ ezecute any wsteummt ot statr m~nt required bq law or ocbecwise ia order co Qecfect. contiaue or cecmioate ~he secudcy interest of c6e Secuced Pucy io ~ efie cotlaceral and pay alt eoacs of filin~ in eonnecaon therewe~h. To retain pussession of the collateral duriaa the existence of chis aareement and aoc to sell ezchan~e. assiap. ban. ~ deli~er, lease monaage or otherwnse dispose oE same ~ei~ouc efie wriaeo consenc of che Secured ~arcq. ~ • To keep c~ie collstenl at d~e bcadon specified in the schedule and not to remove same (e:cept in tLe usual wurse o( ~ business (or cea?porary periods) aritLouc ehe prior wriccen cooscnc of c6e Secured Paaq. To keep che eollate~sl (ree and clear of all liens. cbaraes, mcumbrances, tazes and assessmrnts. To pay. w6en due. all cases, assessments sad licrose feea relatin6 to dte collateral. " s To keep the colla[eral, ac Debtor's own cosc aad e:pense. in good repait and toadicioa sod noe co misuse, sbuse, wasce ot allow oo deterioraie e:cept [or noenal wear and tear and oo mmke same avaulable for iospectioo by the Secuted i Parcy sc sll ceaaonable rimes. ~ To keep c6e eollatersl insured a$ainac loss by fire (iacludina e:tended cov~rage) c6eh aod other hazatds as d~e " r Secnred Party max require and o0 obtaia collision insuraace if applicable. Policies a6a11 ~e ia suc6 (o~ aad amounts and ~ wich suc6 compaaies as the Secvred P~rty m:y deaianate. Poliues s6sll be obtsined itom responsible insu[ora.auc6orized ~ do buainess in c6is acate. Cercificates of iasurance or policies~ payable m t~e cespective panies as their incereac may appear, s6aU be deposiced with the Secured Party w6o is aut6onzed. but uadet no dutyr. to obtaio sucA ioauranct upoa ~ failure of d~e Deb~or to do so. Debtot s6aU ive immediate ~+~itteo notice to che Secured Party and co insurors of loss or damaae to cl~e eollaceral and s6a11 prompdy ~e proofs of loss with iawiors. Deboor 6ereby appoints the Secured Patty the ~ uooroey for cbe Deboor io obceinin6, ad~ustiaa and cancellina any sucb insurance and endocsiog settfement drafcs and - hereby sssi~ s to the Secvred Party all sums wrbicb may become payable uader suc6 iosuraoce, includioa rewm premiums ~ and dividends. as nddicional aecunty for d~e iodebcedness. . -t g ;~~87 ~ 5~9 ~ . ~ ~~.ti i~ r,,,~;~i* ~ ~ , - - _ _ _ _ . _ - - _ - ~ ~ ~ ~ ~ - r- - ; . : .