HomeMy WebLinkAbout0723 11. No waiver by Secured party of any default shall operatc
as a waiver of any other default or of the same defa~ilt on a future
occasion. No del~y or omission on the part of Secured P~rt~~ in exer-
cising any right or remedy shall operate as a waiver therea~, and ~o
sing2e or partial exercise by Secured Party of ~ny right or remedy
shall preclude any other or further exercise thereof or the exer^ise '
of any other riqht or r~~me~3}~. Time is of the essence of t-his A,~-rec~~•~ent.
The provisi~ns ~f thi~ .ic7reement are cumc;l.ition ~~rui in ,~.?.~i+ion ±o the
~~ro~~isiot~s of <~ny not_e Gerur~~d L}~ thi:,A~~r~~~•i~;ent, .in;l Sr~•~ir~• 1 C.;I'Y
shall ha~~e all thc h~~n~fits, ri~~hts ~~n~3 r~~•:~c~;lies of :~ii,! ~,n.3~~r .~r:•; note
secured hereby. Ir more than one party sha] 1 execute ttiis ~r~~~~~~tent,
the teYtn "tsorro~•er" stiall me~in ~11 p~rtic=s siyni.ng this ~1~r~~~~~nent -and
each of them, an;3 all suctl parties shall be ~ointlti?- ~nc~ severall~,~
obligateci ~,nd liat:~c hereunder. The sinc7ular pronoun, whE~s~ ~~se:l herein,
shall inclu.ie ~he plural and the neuter shall incluc~~~ in~~~~• ~line ~nc
feminine. I f th i s A~3reement is not clatc 3 when exc•~ute:3 b~.~ I:t;rr~.~a~ rC,
the Securecl Part..• is authorized, without nctice to the Borrc~.;er=, to
date this Agree.~ent. Tt~is agreement sha12 2~ecec~e ef_''ecti~~e ~~s e.` tt:~
date of this Ayree^~ent. All rights of Securec: Part~~ 'herc~_in :er ~~~al l
inure to the benefit of its siiccessors and ~ssigns; an,3 all ;ia~~il~`_~es
~ of E3orrowers s'1ai1 bind tt:e heirs, executors, a:?Tinistrator~, si:~ce~-_-or~
and assigns oi c~,~ch ~crro;.er.
12. T'iis agreer?ent has been de2ivered in the State cf
Florida and shall b~ ~onstrued in accordance ~,~ith the Laws c~ F'_ori~a.
wherever pessiblf~, c~ach provi sion of thi G Aarec~~ent sha 11 b~,- i:~*_~~r: ~~r.
in suc_h manr.c.r ~~s t;~ ~~e eFfecti~.~e ~~r.,i ic? ~.~i,?c~r :~r_~~;cz~,~~: z~,t
if at1•: proE•i:;ic~..z of t!;~s 11~?L'~CP'~•Il~ ~ti.~ll ~~rc.ti~ibi*_c•,? i~~.• or i~i~~:l~ i
under applic. ble law, s~zch pr,~vision stial l 1~_~ inc~f~e:-ti~~~ t.: ±_l~c~ e-•-~
of s.:ct~ prohibition or in~.•ali~ity w; `hOUt in~~al iciatin~r t!:e r~_-:ia:_. _ ~
of s;:;:h pro~~zsion or the rem~3inin~~ pr,_,~:~isir,n~ of tlli~ F,,~r~~~~•~ent.
II`i 4~'IT'J?:SC 6~?F,i:EOF: t~;l ~ i'1c~reer~.~~n~ h~+ , l~~nl: ~3~,11• ~~-.:er. i;
as o~ ~he .2~ da~~ of ~ - . -
k r s r'.': )
SIGti~D, SF:~L?'.D ~1'~D DELIV£FtED
in t'r~~~ ~rc_-_~i.ce ~zr: r~f•:n' ,
~
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~ FORT P~ ALTI10Nn?PIVE 00. , Il~1C . ,
~ F lorida corporati n
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f SWORN TO AND S~:I3SCRIB~D before me By: ~ (S•`:::T.;
~ this ~?ai of P esident
~ 198~ . _
~
# Attest : (S~~:L1
,
~ Sc~cretary
y
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~ Not y Pu ic , State of Florida
~i~,~ Co: ~~issic;n Expires :
~:~:a+y P~:hi~c, S:ale of F!:?rida st L: r~a
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~ S.;y Commi~sior f:.p;, es F^4r~zry :3, 153G
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.l ~~,,t,Y ~'L,:1~:ID.~ 70Ci..?:L':":' :.~`T~~,'P TAX HF~UIR~~.?-::J':~ ~1~~1lE F3'r_~N
$ ~ ~ _ 1.:'r.`i i:':'~ i,ILL :;::i':'~ IT."•:~: 'iJ ??E !r"r:i~.
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