HomeMy WebLinkAbout0642 fQCVRITY AG11[EMENT ItHATTEI MORTOA6tl, RAMCO FORM i2
UNIiO1IM COMA16RCIAL :OOa (INO. 01l COI~P.I _
~BC~#~ c~~EEttt~n#
(CHATTF.L MORT~AGE)
~ht8 ~lgrerinerrt~ made che l lth day of Apri l 19 79
under the la~rs of the state oE Florida
~~t~Ue81i Terry Wiggam hereia called che Debo~r
whose business address is (if aoae, ~rrite "none") ~e Pub, 1229 OrSnge Street,
Ft. Pierce, Florida
and hose re ~'denc~ addre is 308 N. 28th St.Ft. Pierce, Florida
~d ~lraven Services,~~ba/ Florida Music Company herein called d,e secured Pa~cy ~
whose address is 418 Park Place, West Palm Beach, Florida
~itnessrfl~: .
To secute t6e peymeat of aa indebtedaess ia the amounc o( = 3, 500 , 0~ wich iaceresc. payable as followrs:
To be repaid from proprietor's share of collections (music, games,cigarettes)
until balance is paid in full.
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as evidenced by a note or cwtes of even date herew~it6, and alsb to secure sny other indebtcdness or liability of t6e Debtoc
to the Secured Parcy di~ect or indirect, absolute ot contingenc, due or to become due, caw ezisting or hereafter arisina.
i~dudin$ all future advances oc loans which may be made at the option oE the Secuted Pany~ (all hereiaafter called t6e
, "obligauons ) Debtor 6eceby grants and conveys to che Secured Parcy a securicy interest ia, and mortgages to the Secured
Parcy.
(a) t6e property described in the schedule herein (hereinafcer called the collatetal), ~v6ich collateral the Debtor
repcesencs will be used primarily ~
~ ~ for persoaal. famity or lausetiold purposes ~ in facming operations ~ ia busiaess or other use
j (b) all property, goods and c6attels of che same classes as those scheduled~ acquired by t6e Dcbtor subsequent to the
e:ecution of t6is agreemenc and ptior to its terminacion
j (c) all Qcoceeda t6ereof, iE any.
; (d) all iacreases~ substitutions~ replacemeocs. additioas aad accessioas thereto.
~ DEBT~R WAl~tl!eA1VTS, COVENAIVTS AND AGREFS AS F10LLOWS:
~ To pay and perfocm aU oE ~he obligations secured by c6is agreement accotding to t6eir terms.
~ To defend the cicle to the collateral against all peraons and against all claims aad demands, whatsoevet, whic6
s, collaceral, ezcept for che secucity iatecest granted 6ereby, ia lawfully owned by the Debtoc and is oowr Eree and clear of
' aoy and all liens. secutity iaterests, claims, c6arges~ encnmbrances~ tazes and assessmencs ezcepc as may be set foa6
i in c6e schedule.
' On demaod of the secured party to do the following: furoish funher assutance of cide, execute any written aareement oc
s do aoy other acts necessary to effeccuate the purposes and pmvisions of this aaceemeat, ezecute any iosccument or scate-
ment required by law oc otherarise in otder to perfect. coatinue or cerminate t6e security intetest oE t6e Secured Patty in c6e
~ collatetal and pay all costs of fiGa~ in connecuon therewrit6.
~ To re~aia possession of c6e collaterai durina t6e eusteace of ~6is aareement and noc co sell, ezchaage, assiao. loan.
[ deliver. lease, mongage oc otherwise dispose of same wic?wut c6e writcen coaseac of t6e Secured Pacty.
~ To keep the eollacecal at the location specified in the sctiedule and not to remo~e same (e:cept ia t6e usual coutse of
~ business for temporacy periods) wrichouc the ptior wcitteo consent of the Secured Pany.
To ~eep ihe collaceral free and clear of all lieas, chatges. encumbrances. cazes and assessmeots.
~ To pay. Whea due, all tazes. assessments and license Eees telatin to the collatecal.
; To Iceep the collateral. at Debtor's owra cosc and ezpease, in g~cepau aod coodition aod available fot inspection by
~ t6e Secured Party at all teasoaable times.
~ To keep tbt collaceral fully iasured againsc loss by fire. t6eft and ot6er casualcies. Debtor s6a11 give immediate
written oosice to t6e Secured Parcy and to insurors of loss or damase co the collatenl aad sha11 promptly ~le proofs of loss
with insurots.
~
° THE PARTIFS FURTHER AGREE
~ a'aiver of or acquiescence in any default by t6e Debtor.or failuce of c6e Secured Party to insist upoo sccict perfocmance
' by che Debtor of any warranties or agreements in chis security agreemeat~ s6a11 not coascit~ce a waiver of any aubsequent
or othec default or failute.
Nocices co either party shall be in writ'sng and shall be delivered personally or by mail addtesaed' co the party at t6e
~ address herein set forth or otherwiae designated in writing.
'Ibe Uniform Commercial Code shall govem che rights~ dutiea aad remedies of t6e parties and any provisions hereia de-
clared invaGd under any ta~v a6a11 not invalidace any other provisioo or chia agreemeat.
The folb~ving shal( constitute a default by Debwr:
; Failure to pay che principal oc any installment of ~rincipal or of iotereat on che indebtedneas or any ootes wbm due.
= Failare by Debtor to complp with or perform any provision of chis aareemeat. False or misleadiog represencations or w*at-
ranties made or aiven bq Debtot in conoection with this agreemenc. Subjectioa of the collatcral to levy of ezecution or
~ other judicial process. Commencemmt of any insolvency proceedina by ot agaiost the Debtor. Deat6 oE t6e Debcor. Any ce-
s ' duction in chevalue of the collaceralot any act of theDebtor whic6 imperils the prospect of full pecfoimaace or satisf~ction
? of the Debwr's obliaations hetein.
` Upo n any defeult of t6e Debtor and at the optioa of t6e Secure~ Partp. t6e obliaatioos secured by tl~is aaceemeot ahall
immediatelq become due snd payable in full ~vitlaut ootice ot demaad and the Secured Paccy s6a11 hsve all the rights~ cem-
~ edies and pri~ileaes wich respecc to repossesaioa, recention and ule of che collateral aad diaposicion of tbe proceeds as
~ ace accotded by the applicable sections oE the Uniform Commetcial Code ceapectina "De(ault"
~ Upoo aay default and upoo demaod, Debtot shall assemble the collatenl and m~ke it avsilable to the Secuttd Paety at
~ the lace aod st cbe time deaianaced in t6e demand.
n
k po n any def~ult. che Secured Parcy's ceawnable attomeya' fees and che leaal aod othec e:penses tot pursuina.
~ searching for. recei~ina, caking. keepiaa. swcin~, ad~eaisin , and sellina t6e colbtenl s6~11 be c6~racable oo t6e Debtor.
~ 'lbe Debtor shal~ tcmain liable for aaq deficiency Sesufuoa r~~ a s~le of t6e collatenl and s6a11 pay ~oy suc6 de-
ficiency Eorthwit6 0o dcmand.
If c6e Debtor shall default in che perfocmance of an~r of c6e provisions of this agreemmt oo the Debcor's pact w bepea ;
focmed, Secured Partq may perfocro same for c6e Debtot s account and aay mooies pended in so doing s6all bechataeable
: wich inceresc co c6e Debtor sod sdded co t6e iadebtedness secured hereby. { Q 1~
~ 'Il~e Secured Parcy is hereby auchorized co file a Finwcina Scacemmc. Q~ ~~~10 -„~;i ~
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