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, • AGREEMENT NOT TO ENCUMBER OR TRANSFER PROPERTY 1~'(~ 4'~~(~0
~
i As an inducement to COMMERCIAL BANK OF VERO BEACH to grant credit to
the undersigned under a promissory note for the sum of =
dated 19 and in consideration thereo tle un ers gne~-
'(here na er ca a orrowers 3ointly and severally agree that until said ~
note and arty extension or renewal thereof and also any and all other indebtedness ~
of the Borrol+rers, or either of them to Bank, whether 3oint or several, heretofore
or hereafter incurred and without regard to the nature thereof, shall have been
paid in full or until 21 years following the death of the last survivor of the s
undersigned, whichever shall occur first, (a) Borrowers will pay all taxes,
' assessments, dues and 'charges of evary kind, imposed or levied, or which may
be imposed or levied upon their real and personal property prior to the time
when any such taxes, assessments, dues or charges shall become delinquent, and
(b) Borrowers will not, without the consent in writing of the Bank first had
and obtained, (1) create or permit any lien or other encumbrances (other than
presently existing liens or ]fens securing the payment of loans and advances
made to them by Bank) to exist on their property, real or personal, now owned
or hereafter acquired, or (2) transfer, hypothecate, assign,~sell or in any t
manner whatever dispose of the said property, or any interest therein, including
specifically, but without limitation, the following-described real property,•
situated in the County of St. Lucie ~ State of Florida.
Lots 5, 6 and 7, Block 174, LAKEW000 PARK, UNIT 12A, a
subdivision according to the plat thereof, as recorded ,
in Plat Book 11, Pages 35, 36 and 37, of-the Public -
Records of St. Lucie County, Florida. i
It is further agreed and understood that if default is made in the
performance of any of the terms hereof, or of any instrument executed by Borrowers
in connection herewith, or in the payment of any indebtedness or obligation of !
Borrowers now or hereafter owing to Bank, Bank may, at its election, it addition
to all other remedies and rights which it ,may have by law, declare the entire
remaining unpaid principal and interest of any such obligations or indebtedness
then remaining unpaid to the Sank due and payable forthwith.
It is further agreed and understood that Bank may, in its discretion,
and it is hereby authorized and permitted by Borrowers to cause this instrument
to be recorded at such time and in such places as Bank may,-in its discretion,
elect.
Dated this 12th day of September 19_JQ__-
LS ~2
)
Witness Cecil Haire
(SEAL)
Witness
STATE OF FLORIDA
COUNTY OF INDIAN RIVER
I HEREBY-.CERTIFY that on this day, before me, an officer duly authorized
in the State and County aforesaid to take acknowledgements, personally appeared
CECIL HAIRE
to me ri to be the person described in and who executed the foregoing instrument,
an~.~'~en~ngwledged before me that he executed the same.
:.Wt4J+lE~ my hand and official seal in the State and County aforesaid
= F~t''~September 19 79
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ri Wit; i"~p rr + ` ~'y-~
i9' i t+' ~ ~ ~i~ : V ~
o ary u ic, ~ tate o on a
off, c..».»••a
ti,~ at Large ~
i;'r?~~,~i`~`~~,.~~``` My Commission Expires: 8-16-82
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This Instrument prepared by: Joan L. Morris
Commercial Bank of Vero~Beach
_459100 P.O. Box 2767, Vero Beach, Florida 32960
1919 SEP ! 7 A~~ i!~ ~9
s R
GER
POIT~
SA~
CLERK CIRCUIT COIJR
RECORD VERIfIEO..~
- aor°>x~ 31S rN~1971