HomeMy WebLinkAbout0083 - SBCURITY AGREF.i~NT
FOR VALUB RECBINSD, ROBERT R. CNBRRY and VIRGINIA CtiBRRY, hia wife
Debtor (and if nare than oAe, each of thea ~ointly and severally) does hereby grant
to GAILSB K RANQi, INC. , Secured Party, a security
interest in the follo~ring col~.ateral: .
SC~DIILB OF PROP8it1R ATTACAED. ~ .
Which is deposited contea4poraneously ~rit6 the executioa hereof vith
DEBI~OR who agrees to hald it in accordance vith the
terms and purposes of this Agreeaeat; and Debtor doe~ further assign,~traasfer an~ ~
set over wato Secured ParCy all additions, subatitutions and replacements therefor
from time to time added by exhibits executed and delivered by Debtor to Secured
Party, all hereinafter called the collateral.
This security interest and aesign~ent is given as security for the payment of a ~
certain promissory note dated the /stday of Februarv , A. D., 19~, aad given by
Debtor to Secured Party in the amouat of $19.305.37,, payable as therein provided
together with interest at the rate of 10 per annum and for the pay~eat of any and
all other indebtedness and liabili.ties whatgoever of Debtor to Secured Party. -This
Agreement secures the payment of the note whether the ~hole amount has beea advanced-
to Debtor at the date of this Agreement or at a later date. This Agreement secures
the payment of any other amount or amounts-that u?ay~be added to the obligation and
indebtedness uader the terms of this Agreemeat aad any amount ox amounts due or to
become due by reason of anq exteasion or renewal of the note. This Agreement secures
all future advances made by Secured Party to Debtor (or any of them if more than one)
and any and all'other debta, liabilities and obligations (prim~ry, secondary, direct, . ~
contingent, sole, 3oint or several) now due or owing or to become due~or awing or
that may be contracted or acquired, of Debtor (or any of them, if more thaa one) to
Secured Party, provided, however, that the future advances be made within 20 years
from the date of this Agreemeat, and that the total unpaid balance secured by this
Agreement at any one time sha11 not eacceed $ 19,305.37 plus interest thereon at the
rate then agreed upon, pursuant to F.S. 647.04. Nothing contained in this Agreement
shall be deemed an obligation on the part of Secured Party to make any future advances.
Each of us severallq waives presentment, demand-for payment, protest, notice of
protest and notice of dishonor; consents that the note and obligation secured, or any
part thereof may from time to time, be eatended or renewed- Without notice for any '
period (whether or not longer than the original period of the note or obliation); ~
agrees that the excbange, release, surrender or sale of all or any real or personal
property or collatersl that may be given as securitq hereunder shall not release or
discharge any party obligated hereunder; agrees that the release of any party liable
upon or in respect of the note and other obligations secured shall not release any
i other such party; and hereby agrees to pay, ~n the event of a default, all costs,
~ expenses and reasonable attorneys'~fees incurred ia the exercise by Secured Party of
G its rights as a secured party upon default by Debtor, including those costs, expenses
~ and reasonable attorneys' fees incurred in appellate proceedings; provided, however,
that any limitation on attorneqs' fees contained in the note secured s6a11 be applicable
~ to and limit fees recoverable under this paragraph..
Secured Party shall have the right in its own name or in the name of Debtor to
ask, demand, collect, receive, receipt,for, sue for, compound and give acquittance
for, any and all amounts due or to become due on the collateral and'to endorse the
name of Debtor on all co~ercial paper given in payment or part payment thereof and
in its discretion to file any claim or take any other action or proceeding that
Secured Party may deem necessary or appropriate to protect and preserve and reslize -
upon the security interest of Secured Party in the collateral. ~
No waiver by Secured Party of anq default shall operate as a wiaver of any other
default or of the same default on ~ future occasion. No delay or omission on the
~ part of Secured Party in exercising any right or rememdy ahall perate as a waiver
~ thereof and no single or partial exercise by Secured Party of any right or remedy
shall preclude any other or further exercise thereof or the exercise of any other
right or remedy. Time is of the essence of this Agreement. The provisions of this
Agreement are cumulative and in addition to the provisions of any liability on any
~ note or other writing evidencing any liabilitq,secured by this Agreement or otherwise. ~
; Secured Party shall have all.of the benefits, rights and remedies of and under any
` liability and any note or other writing evidencing any liability secured hereby. In
~ addition to alI other rights granted hereunder, Secured Partq shall have all of the
~ rights granted a secured partq under the tlniform Commuercial Code. ~ ~
~ All of the terms used in this Agreement that are defined in the Uniform Commerical
~ Code of Florida have, except where the conteat indicates_otherwise, the same meaning
here as in the.Code. This Agreement aad the obligations hereunder, including matters ~
af construction, validity and performance, shall be govemed by the laws of Florida. ~
~ Wherever used herein the singular shall include the plural, the plural the singular ~
and the use of anq gender shall include all genders. _`Y'
~ DATED~at For~-Pierce , Flori t s}~-
day of ,~bruar , 19
79.
~ - ~,l/ ~
~ ADDRESS:~ute 5, Box 767 - Brock mith Road "v (Seal)
~ uITNESSES: Q ' " •
r,~- (Sea1_)
~
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