Loading...
HomeMy WebLinkAbout2571 ~ - _ 'atCU111Tr AYRitMtNT IGNATTt1. M011TOAOt1 ~ 11AMC0 /ORM N YNI'011M tONYtRC1A< COOL tINO. 011 t:011P.1 ~1u~;~ ~~I ~E~ ~ - (CNATlEL MOR7IGAGB~ ~~t~ ~gl•EE made the 17 day of AtlguSt ~ 79 under the laws of the state of Florida ~E~UEEit William J. Trentham and Patricia A. TranthaMtereia called the Deboor none whose business address is (if Moue, write "pone") and whose residettce address~is 5.701 Birch Drive, Ft. Pierce, Florida rtd ~ Ozark Financial Corporation and/or Assigns herein called the Secured Party whose address is 3201 Griffin Road, Ft. Lauderdale, Florida. ~itllesaeth: To secure the payment of an indebtedness in the amount of = 7 t • with interest. payable as folbwa: In 119-consecutive monthly installments of $126.13 each, and a final installment of $ 126.13, on the ' 17 day of each month beginning on S ttsnber 1979,- and con~nuing thereafter until the note evidencing orrower s obligation to lender is fully paid. as evidenced by a note or notes of even dace herewith, and also to secure any ocher indebtedness or liability of the Debtor w the Secured Party direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, including all future advances or [owns which may be made at the option of the Secured Patty, (all hereinafter called the "obliganons") Debtor hereby grants and conveys co the Secured Party a security interese in, and mortgages to the Seemed Part ~i) the property described in the schedule herein (hereinafter called the collateral), which collateral the Deboot represents wtll be used primarily [~or personal, family or household purposes ~ in farming operations ~ in business or other use - (b) all propperty, goods and chattels of the same classes as those scheduled, acquired by the Debtor subsequrnt to the execution of tltis agreement aad prior to its termination (c) all Qroceeds chereoft if any, (d) all lacreases, substitutions, replacements, additions aad accessions thereto. DEB7IDR WARRANTS, COVENANTS AND AGREES AS FOLLOWS: To ,pay sad 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, whataoevet,wluth collateral, a:cept for the security interest granted hereby, is lawfully owned by the Debtor and is now free and clear of -any and all liens, security interests, claims, charges, encumbrances, razes and assessments ezcept as may be set forth I io the schedule. Oa demand of the secured party to do the folbwing: famish further assurance of title, execute say written agreement or do any other aces necessary to effectuate the purposes and provisions of this agreement,. ezecute any instrument or state- ~ meat required by law or otherwise in oeder to perfect, continue or terminate the security interese of the Secured Party in the collacera! and pay al! costs of filio in connection therewith. To retain possession of the co~ceral during the existence of this agreement and nor to sell, exchange, assign, loan. delirec, lease, mottaage or othenrise dispose of same without the written consent of the Secured Party. To keep the collateral at the location specified in the schedule and not co remove same (except ie the usual course of business for cempotatq periods) without the prior written rnnseac of the Secured Party. - To keep the collateral kee and clear of all liens, charges, eacumbtaoces, Gazes and assessments. To pay, when due, all cues, assessments and license fees Gelatins to the collateral. To keep the collateral, ac Debtor's own coat and expense, in good repair and condition aad available for inspection by the Secured Party at all reasonable rimes. ' To keep the collateral fully insured against loss by fire, theft and ocher casualties, Debtor shall Give immediate written -ocice to the Secured Party ana co insurors of loss or damage to the collateral and shall promptly file proofs of loss with insurors. TFIE PARTIES FURTHER AGREE ~aivet of or acquiescence in any default by the Debtot,or failure of the Secured Party to insist upon strict per[otmaaee bq the Debtor of any warranties or agreements io this security agreement, shall nor constitute a waiver of any subsequent or other default oc failure. Notices to either party shall be in writing and shall be delivered personally or by mail addressed to the party at the address herein set forth or otherwise designated in writing. . The UaifoGm Commercial Code yhall gov~rn~e tights, duties and remedies of the parties and any provisions herein de- clared invalid under any lad. atUall abt iavalydatt,ee any other provision or this agreement. The folbwin$ shall coiisdtnts 4defaulc by'Debror: Faihue to pay the principal or any installment of principal or of interest on the indebtedness of any notes when dne. Failure by Debtor to comply with or perform any provision of this agreement. False or misleading representations oc wa[• raatiea made or given by Debtor in conaeccion with this agreement. Subjection of the collateral co levy of a:eeutioa or other judicial process. Commencemene of any insolvency proceeding by or against the Debtor. Death of the Debtar. Aoy re- duction in the value of the collacera! or soy ace of the Debtor which imperils the prospect of Full performance or satisfaecaa ~ of the Debtor's oblibscions herein. - Uppooo any default of the Debtor and at the option of the Secured Party, the obligations secured by this saceement shall immediately become due aad payable in full without notice of demand and the Secured Party shall have all the rights rem- edies and privileges with respect to repossession, retention and sale of cbe collateral and disposition of the proceeds as ~ -ace accorded by the applicable sections of the Unilorm Commercial Code respecting "Default" Upon any default sod upon demand, Debtor shall assemble the collateral and make it available to the Secured Patty at - the place sod at the time designated io the demand. Uppoon any default, the Secured Party's reasonable attorneys' fees and the legal and other ezpmsea Got pursnina, starchins for, receiving, calciog, keeping, scoring, advertisingg, and selling the collateral shall be chargeable to ebe Debtor. The Debtor shall remain liable for any deficiency resulting from a sale of the colluenl and shall pay say aaeb de•_ ficieacy forthwith on demand. If the Debtor shall default in the performance of and of the provisions of this agreement on the Debwr's part to bepeo- formed, Secured Party may perform same Eoc the Debtor s account aad ray monies ezpended io so doing shall bechugeable with interest to the Debtor rod added to the indebtedness secured hereby. The Secured Patty is hereby authorized to file a Financing Stacemmc.