The URL can be used to link to this page

Home My WebLink About0777 ' ' RAMCO FORM ~2 ~ / lECURI~Y AGNEEMEN* (tHAT~EL MORTGAGEI UHIfORM COMMEqC1Al COOE IIND. OR CORP.I . ~ ~ _ ~PCUri#~ c~lgxeemeri# ~ ~ - / : CNA77~L MOR IL^ACE) I ~ . ~ . ~his ~areeiuent~ mnde the 3 day of MaY 1~ 7$ under the.laMS of che stace oE Florida ~ _ ~k'f~Veell Florida Cafeterias , II1C . herein called chc Deboor ahose sine s addr ss is (if no wrri e"none") Trade Winds Cafeteria, SearsCown S~"iopp~.ng G~enCer. ~f. ~ierce, Florida. 33450 and w+hose residence address is ~d WBrd Peek ~ herein called ~he Secured Pacty .vhose ~ddress is 500 Gardenia Lane, Vero Beach, Florida ~ititess~•tE~: ~ To secure t6e payme~t of an indebtedness in the amoun~ of =lO OOO . ~~~~b intetest. payable aa foliows; ~ Payable in annual installments o~ $2,000.00 together with interest at 7% per annum. ~ - ' =~T'~.TE F- t_C ~ ~ • ~ - , - '~tiMENT~~.R~.`. ~T.l, Irii' ~T.i. ~ i ~ , ~ 'J LE?T t;F kEVENUs'`S/i~'".:, ~ . _ ~ :~~•iet'~;~~''~ I 5. ~ ~ 1 . ~ ~ ' ~ - ° . ~ , - as evidenced by a note or notes of e~en dat~ hetewith. and aiso to secute any other indebtedness ot liability oE the Debtor to the Secuted Pat[y direct or indirect, absolute oc contingent. due or to Decome due, ~ow e:isting or hereaftet arising, includiag all (uture ad~ances or luans wAich may be made at the option of the Secured Pany, (ali hereinafter called the "obligacions") llebtoc hereby grants and con~eys to the Secured Pacty a secutity interest in. and mottgages to the Secuced - Party; . • (a) t6e propecey described in the schedule herein (hereina(tet called the collateral), p•hich collateral the Debtor tepresents will be used p~imarily ~ for persoaal~ fxo?ily or household purposes ~ in farming operations ~ in business or other use , (b) all ptoperty, qoods and chattels of the same classes as thosc scheJule.~, acquired by the Debtor subsequcnt ~o the ezecution dt this agreemenc aad prior to its tecmination f (c) all ~roceeds thereof. if any, - I (d) all increasfs. subsututions. teplacements. additions and accessions eheteto. . ~ DEBTnR WARRAN7~ COVENANTS AND AGREES AS F~LLOWS: 1 To pay and perfotm all of the obligations secured bp this agceement accotding to their terms. ~ j To defend the title to tbe collateral against all petsons and against all claims and demands. o?hatsoevct, whic6 ~ coilate:al. e:cepe for thr secunty interest graneed heceby. is law(uliy oRned by the Debtor and is now free and clear of ~ ' any and all liens. security interests. claims. chsrges, encumbrances~ cazes and assrssments ezcept as may be set fotth in the sche.~ute. Oa demand of the secuted patty to do the folbp•ing: fumish further assurance of title~ e:ecute any vctitten agteemen[ or E do any other acts necessary to effectuate the purposes and provisions of this agceement. esecute any inscrument or state- ~ ment required by law ur othera~ise in ordec to perfect. continue or tecminate the security interest of the Secu~ed Patty in the ! ~ i collatetal and pay all coscs of filing in connection thecewith. To tetain possession o( the collatetaE during the ezis[ence oE chis agreement and not to sell, czchange, assign, loan, deliver. lease, cnortgage or oehenvise disposc of same withou~ the written conseat of the Secured Party. ~ To Iceep the collateral at the location specified in the schcdule and not to remove same (escept in the usual coutse of business for temporaty periods) without the pnot writfen consent of the Secuced Party. To iceep the collateral free aad cleat of all liens. charges~ rncumbtances, tazes and assessments. ~ To pay ~ when due. a11 tazes. assessments aod license fees relating to the collateral. ( To keep the collateral. at Debtor's own cost and ezpenae, in good rrpau aod condition and available for inspection by 1 t6e Secuced Party at all ceasonable times. To keep t6r collatetal fully i~isured against ioss by fire. theft and other casualties, Debtor shall give immediate ~ written eu~tice to the Secured {'arty and to insurors of loss or damage.co the collatera{ and shall ptomptly file proofs of loss j with insucots. ! TH~' PARTIES FURTHER AGREE ~ R`airer ~f or acguiescence in any default by the Debtot,or failure of the Secuted Pacty to insist upon strict performance ~ by the Debtot of any Marcan~ies ot agreements in this security agreemeot~ shall not consutute a waivet o( any subsequmt or other defauit or failure. ( tiotices to eithet party shall be in writing and shall be delivered personally or by mail addressed to the party at the t address herEin set forth or otheraise designated io wticing. i ~ I~e l,'niform Commeccial Code shall govem the cights, duties and cemedies of the patties and any ptovisions herein de- ~ clared invalid undec any law s6all not invalidate any other provision ot this agteement. ~ ; The folbwing shall constitute a defau{t by Debtor. # ~ Failute to pay the ptincipa1 or any iostallment of Qtincipal ot of interest en the indebtedness ot aoy notes when due. _ r, + Failure by Debtor co comply .vich or petform any pcov~s~on of t6is agreement. False or misleading representatioos or war- f ~ ranties made ot given by Deb~or in connection ait6 this agceement. Subjection of the collateral to levy of e:ecution ot ~ oe6er judicial process. Corr~meacemmt of any insolvency pcocecdina by or against the Debtor. Death of the Debtor. Any re- ~ duction in thevalue of chr collaceralor any acc of theDebtor which imperils the prospect of full perfotmance or satisfaction of the Debcor's obligations herein. ' ~ Upon any default of c3e Debtoc and at the opt~on of the Secuted ~'arty, the obligations secuted by this agreement shall imd~ediately betome due aod payablt in full witiwut notice or demand aad the Secuted Party s6a11 have all the rights, rem- ~ edies and privilegrs aith respect co repossession, reten[ioa and sale oE the collateral and disposition of che ptoceeds as ~ ate acrntded by the applicable sections af the Uniform Commeccial Code respecting "Default" ` Upon any detault and upon demand, Debeor shall assemble tht collateral aod make it aveilable to the Secuted Party at ! the place and at the time designated in the demand. I Upoo aay de(ault. che Secured Parcy's reasonable auorneys' fees aod the legal aud otber espeoses for pursuing~ seatc6in6 [or, receiving, takin~. kceping. stocing, advectising, and selling c6e collaieral shall be chacgeable co the Debtor. Ibe Debtor shall rrmain liable for any deficiency cesuitina (rom s sale of the collateral and shail pay any such de- - ficimcy fortbaricb on demu~d. ~ tf the Debcor sball default io the petfocmance of aa~ of che pro~isions of this aareement oa the Debcoc's parc co beper- ~ focmed, SecuAd; Patty may pptfptu same for tbe Debtoc s sccount s+nd any monies e:peaded in so doing shall be chatgeable ~ ~ with iaterest w th¢ Debtot and added to the indebtedness secuced hereby. ~ ~ ~ The Secured Psrty is hereby ~uthorized to file a Finaocing Statemeat. ~ - ! ~ bUUII~.?vV I11U ~y ~ ~ . - _ _ ~ ~ ~ ~"~b "~n £`l* ,Y d m ~+'~`,4w~"«' ~"3'y ~ ~ ~ yd ~ "`yt _ .~4: ' ~~os- .,:'3~`~`.~1 ~