HomeMy WebLinkAbout0463 SECURITY AGREEMENT (CNATTFI MORTGAGEI ^61899 RAMCO FORM 62
I UNIFORM COMMERCIAL CODE (IND. OR CORP.1
EClIL'C~ B~riTEtT~
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(CHATTEL MOR7LACE) I
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~Ihts ~lareettterit, made the day of October 19 79
under the laws of the state of Florida hig Wife
~~ettUeelt JACKSON M. PHILLIPS and LEAG G . PHILLIPS , herein called the Deboor
whose business address is (if none, write "none")
and whose residence address is h1S wife,
and GEORGE B. DICKERSON and NANCY ANN DICKERSON, herein called the Secured Party
whose address is
~ltlll'SSk`t~~:
To secure the payment of an indebtedness in the amount of S 1 , 000.00 with interest, payable as follows:
(As per Promissory Note attached hereto.)
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as evidenced by a note or notes of even date herewith, and also to secure any other indebtedness of liability of the Debtor
[a the Secured Party direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising,
including all future advancrs or loans which may be made at the option of the Secured Party, (all hereinafter called the
"obligations") Debtor hereby grants and conveys to the Secured Parry a security interest in, and mortgages to the Secured
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~a) the propetty described in the schedule herein (hereinafter called the collateral), which collateral the Debtor
represents will be used primarily
®for personal, Family or household purposes ~ in farming operations ~ in business or other use
(b) all propetty, goods and chattels of the same classes as those scheduled, acquired by the Debtor subsequent to the
execution o(t is agreement and prior to its termination
(c) all proceeds thereof, if any,
(d) all increases, substitutions, replacements, additions and accessions thereto.
DEBTnR WARRANTS, COVENANTS AND AGREES AS 1~OLLOWS:
To pa}• and perform all of the obligations secured by this agreement according to thcit terms.
Tu 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 owned by the Debtor and is now free and clear of
'.i any and all liens, security interests, claims, charges, enciimbronces, razes and assessments except as may be set forth
in the schedule.
On demand of the secured patty to do the following: furnish further assurance of title, execute any written agreement or
do any other acts necessary co effectuate the purposes and provisions of this agreement, execute any instrument of state-
j ment required by law or otherwise in order to perfect, continue of terminate the security interest of the Secured Party io the
collateral and pay all costs of filing in connection therewith.
To retain possession of the collateral during the existence of this agreement and not to sell, exchange. assign. loan,
deliver, lease, mortgage or otherwise dispose of same without the written consent of the Secured Party.
m To krep the collateral at the location specified in the schedule and not to remove same (sass •u-
)without the prior written consent of the Secured Party.
!j To keep the collateral free and clear of all liens, charges, encumbrances, razes and assessments.
it To pay, when due, all razes, assessments and license fees relating to the collateral.
~ To keep the collateral, at Debtor's own cost and expense, io good repair and condition and available for inspection by
the Secured Party at all reasonable times.
To keep the collateral fully insured against loss by Eire, theft and other casualties, Debtor shall give immediate
written notice to the Secured Patty and to insurors of loss or damage to the collateral and shall promptly file proofs of loss
i with insurors.
1'HE PAR77FS FUR7NER AGREE
11'aicer of or acquiescence in any default by the Debtor, or failure of the Secured Patty to insist upon strict performance
by the Debtor of any warranties or agreements in this security agreement, shall not constitute a waiver of any subsequrnt
~ or other default or failure.
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\otices 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 Uniform Commercial Code shall govern the rights, duties and remedies of the parties and any provisions herein de-
~ clarcd invalid under any law shall not invalidate any other provision of this agreement.
~ The following shall constitute a default by Debtor:
E I•ailure to pay the principal of any installment of Qrincipal of of interest on the indebtedness or any notes whrn due.
Eaiture by Debtotto comply with or perform any provision of this agreement. False or misleading represencacions or war-
II ran:ies made of given by Debtor in connection with this agreement. Subjection of the collateral to levy of execution or
other judicial process. Commencement of any insolvency proceeding by of against the Debtor. Death of the Debtor. Aoy re-
duction in the value of the collateral or any act of the Debtor which imperils the prospect of Eull performance or satisfaction
r ! of the Debtor's oblig~cions herein.
U n any default of the Debtor and ac the option of the Secured Party, the obligations secuxd by this agreement shall
+ immediately become due and payable in Eull without notice or demand and the Secured Party shall have all the rights, rem-
` edits and privileges with respect to repossession, retention and sale of the collateral and disposition of the proceeds as
i are acconied by the applicable sections of the Uniform Commercial Code respecting "Default"
# Upon any default and upon demand, Debtor shall assemble the collateral and make it available to the Secured Party at
! the place and at the time designated in the demand.
Upon any default, the Secured Patty's reasonable attorneys' fees and the legal and ocher ezprnses for putsuina,
j searching for, receiving, taking, keeping, storin¢, advertising, and selling the collateral shall be chargeable to the Debtor.
~ The Debtor shall remain liable for any deficiency resulting from a sale of the collateral and shall pay any such de-
~ ficiency forthwith on demand.
! If the Debtor shall default in the performance of any of the provisions of this agreement on the Debtor's part to beper-
fotmed, Secured Party may perform same for the Debtor's account and any monies expended io so doing shall bechargesble
with interest to the Debtor and added to the itidebtednesa secured beteby.
The Secured Party is hereby authorized to file a Financing Statement.
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