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UtilIO11M COWAa11G1AL COOL IINO. 011 GORP.1
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(CHATTEL MOR7~AGE) ~
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~!1[~l~ ~~e821tPit~ made the 2nd day of March 19 79
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under the laws of the state of Florida _ -
~P~tIPPit PETER HOLMAN TRUCKING, INCORPORATED, a Florida corporation,
.herein called the Debo~r i
whose business address is (if none, wrice'4tone") 3504 SOLlth U.S.#l, Fort Pierce, FL
- 33450 t
and whose residence address is
and A. R. HOCKADAY ~ herein called etie Secut~d Party
s
whose address is 2401 South 19th Street, Fort Pierce, Florida 33450,
itnesseth:
To secure the paymrnc of an indebtedness in the amount of = 227,200.00 with interest, ~
payable as folbws: i
Interest only in the amount of $1,798.67 shall be payable monthly {
during 1979. Principal in the .amount of $63,111.11 shall be payabl
on January 2, 1980, plus interest, and the unpaid principal of
$164,088.89 shall be payable in 25 equal monthly installments of
$7,012.65, including interest, and a 26th installment of $6,871.95,
including interest. r
i '
( as evidenced by a note or notes of even date herewith, and also to secure any other indebtedness or liability
1 of the Debtor to the Secured Party direct or induect, absolute or contingent, due or to become due, now ezisting ?
or hereafter arising, including all future advances or loans which may be made at the option of the Secured
Patty, (all heteinaker called the "obligations") Debtor hereby grants and conveys [o the Secured Party a
~ security interest in, std mortgages to cbe Secured Party,
(a) the property described in the schedule herein (hereinafter called the collateral), which collateral the
` Debtor represents will be used primarily ! ~
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? for personal, family or household purposes ? in farming operations ~ in business or other use
(b) all property, goods and chattels of cbe same classes as chose scheduled, acquired by the Debtor sub-
!
sequent to the ezecution of this agreement aad prior to its termination
~ (c) all proceeds thereof, if any,
I~ (d) all increases. subscitucions, replacements, additions and accessions thereto.
I -
DEB7IDR WARRANTS, COVENANTS AND AGRF.FS AS HOLLOWS:
? I To pay and perform all of the obligations secured by this agreement according to their terms.
To defend the title to the collateral against all persons and against all claims and demands whatsoever, which
! collateral, except for the security interest granted hereby,, is lawfully oared by the Debtor and is now free and clear of
any and all liras, security interests, claims, charges, encumbrances, taxes and assessments ezcept as may be sec forth
# in the schedule.
~ On demand of the secured party to do the following: furnish further assurance of title, ezecute any written agreement -
or do any other acts necessary to effeccuace the purposes and provisions of this agreement, ezecute any insttumene or start
ment required by law or otherwise in order to perfect, continue or tetminace the security interest of the Secured Party in
} the collateral and pay all costs of filing in connection therewith.
To retain possession of the collateral during the ezistence of this agreement and not to sell ezchange, assign, ban,
deliver, lease, wort6age or otherwise dispose of same without the written consent of the Secured isarty.
f To keep the collateral at the bcation specified, in the schedule and not to remove same (e:cepc in the usual rnutse of
- business for temporary periods) without the prior wntten consent of the Secured Party.
To keep the collateral free and clear of all liens, charges, encumbrances, lazes and assessments.
To pay, when due, all taxes, assessments and license fees relating to the collateral. -
i To keep the collateral, at Debtor's own coat and ezpense, in good repair and condition and not to misuse, abuse,
waste or allow to deteriorate ezcept for normal wear and teat and ro m'ske same available for inspection by the Secured
Parry at all reasonable times.
To keep the collateral insured a~aiost loss by fire (including eztended coverage) theft and other hazards as the
Secured Patty may requite and to obtwn collision insurance if applicable. Policies shall ~e in such form and amounts and -
with such companies ss the Secured Party may designate. Policies shall be obtained from responsible insurors.authotised
E to do business in this state. Certificates of insurance or policies, payable to die respective patties as their interest may
`appear, shall be deposited with the Secured Party who is authorized, but under no duty. fp obtain such insurance upon
z i failure of the Debtor to do so. Debtor shall dive immediate ..titles notice to the See_red Paay sad to insurors of loss or '
' damage to the collateral and shall promptly file proofs of loss with insurors. Debtor hereby a tots the Secured Patty the
atrotney for the Debtor in obtaining, adjusting and cancelling any such insurance and endorsing settlement,dtafts and
berebY assigns co the Secured Party all sums which may become payable under such insurance, includinS cetuen premiums
and dividends, as additional secunty for the indebtedness.
s°eoK 304 Pac~1344
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