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Home My WebLink About2322 ~ ~ id shall be added to tlx amount of the debt secured hereby, dull be a lien oo the Collateral aad shall be payable oa demand with interest ~ t the tare cat ; y2 ;y per annum 7 hr ~<utcJ Pasty way act as attorney scar u?r Lkhtut sn rsu?,ut;, aJtwuug auJ acttlsug ua,wa uadc[ and ua- v , c tlx Ihbcor's aarue on drafts drawn by the u,autrrs cat tlx lullateral. " cn 12. Lkbeue will promptly give co the ScYUrcd Party written notice of any partial loss or destruction of the Collateul by fire or otherwise; u nd the St-cuud Parry nuy, sn ,u d,ueetiun, then instruct the Ihbtur, ar the lhbtot's cost and expense, w cause such repairs to be made as the ~ ttd fatty deems rsarnual tut its ptutatiua li such repasts arc made, the Secua-d Parry Stull tcimbursc the Lkbtut thrnfor to the extent ~ not mwe than such art amount as the S:•cured Party tray reserve oq account of nuy iasuraate covering such loss. and the Debtor will pay ~i e ~ st,e balance of the cost of such eetsaics. to nay auch event, the $auetd Party shall ae>t be (sable to the lkbtuc foe any damages that the Urbtuc y wsrain u a teault of delays, temporary wuhdeawal (cum service. oc from any othee cause w:,atsoever, caused by such patrol suss of drattuctiuo. 1 N ~ lj. The Secured fury dull have the sole tight [o colhYt any insurance oc other indemnity payable on account of any loss ui of dau,age w o the Collatrt~. Out of such uauuat(s) u nuy be so cullecud, the Snored Parry shall (subject to Paragraph 12), pay the same to itself up to u the foal amount theca turuin,ng to be paid a on account of fix debt secured hereby. and shall pay to the lhbtot any balance of the awount(s) o a collected, in lull seulrment cat the Secured Pury's duty to acctwne thertfot. lkspste the rttupt by tlse Secured Parry of any insuuace ptexeeds, ~ ~ is Security Agreement shalt continue is lull force aad eQect until the the rotue debt secured hetrbyt shall have beta uustird. b~ su. 14 The Secured Party :lull have the eight to enforce any one or more remedies hereuodet, titliec succeuively or concurrently, and such s~ tioo shall not operate to bu or estop the Secured Party from pursuing any other remedy that the Secured •Parry may have, and any tepussess,oo u ~ t retaking of chc Collateral, whether temporary or otherwise. or any sale thereof. pursuant to the tetras hereof; shall not opeute co release or J gc the Debtor until full payment shall have been t,ude u herern agreed. - r o ~ 15. No waiver by the Secured Parry of any breach or default of oc by the Debtor under this Security Agtamene shall be deemed a waiver of anY other artvtous breach or default or any therca(tec occurring. Any provision of this Agreement pcohrbsted by the law of any j ~ T sate shall, u to said state, be ine!lective to the extent of suds ptohrb?tion wuhout iovaUdaung the ccma,nsng pcoviuom hereof. 'Phis - ~ ctemrnt may not be modified or terminated except by a writing srgord by all of the parurs hereto. lti. Debtor hereby waives and wiil waive all righu to uial by jury rn any iiuglcioa arisi:.g :,tct of tht t:ansa;.ian(s) rcfc:r:3 ra is " this Security Ascaknent and iu terms, or nay acu by. or claims against, tl,e Secured Parry in toonccuon with the enforcement thereof ar the .c u bligauuns referred to therein. The Lhbtur waves the tight w interpose cuunrrtclasms oc sreWts of any lied and dacnptw6 in any Gtigatwn arisrng heuundrt. la the evtnt clot ti,e Secured Party trains counsel to enforce the pcovisiuns of this Jecunry Agreemene or any obhgauun sn "''i coaneetion therewith. the Ucbror shall pay. in addition to all amounu then due aad owing, attorney's fees is tlx amount of 209x. of the unpud ~ balance, which the lkbtot agrees to br reasonable, together with aU legal expresses. " u 17. if cheer is mote than one Debtor, all of their obligations hereunder shall be joint aad several, all singular words referring to G ~ Debtor shall be deemed plural; all masculine words herein shall be deemed co include the feminine and neuter gcnd;rs, as the cue may be. f u 18. This agreement shall be deemed to have been rnadr in the State of hiew York. the Debtor conxnu to the jurisdiction of the courts u o M of New York,butthe rights :nd liabiGues of the parties shall be dececmiurd in accordance with the taws of the Sate of Floridain force ti s+ t the date of the Security Agreement. All eetms used herein which ate defined in the Uaifocm Commercial Code of FlOridashall have the u u same meaning herein. ~u cos 19. The Secured Party may asiign this Security Agreemtnt aqd if the Secured Party does assign this Agreement, the Assignee shall be q ai R enjjljfd. upon notifying the Debtor. to performance of all the Drbtoi s obligations and all eighu and remedies of the Sect:cal Party in this A rt:Ethla~,land the: Debtor affil users ao caims of defenses be may have against the Secured Parry against the Assignee ezupR those granted ~ ther~.~,{t~1' Agreement. - - WHEREOF, the Debtor hu caused this it,sttument co be duly e:etuced this .......~'4~ .....................,..:.~....::t:fdty.of ..................:....~Yemb.eL............................... 197..9..... (Debtor hereby acknowledges rece,pt of an executed copy hereofy•. NATIO ~ y + K OF NORTH AMERICA • OCEAN •DUNES DEVELbPMENT Cb~ORAT101~,- rU~~~~a n n: (Debtor) - - . ex'tured ' , . - STATE OF NL•W YORK COUNTY OF Oa this day oE , 197......... before me personally appeared to me known and known to me to be the individual dcwibed in and who executed the foregoing instrument, and he duly acknowledged clot he executed ehe same. CORPORATE ACKNOWLEDGMENT r-~, STATE OF \'IiW YORK l ;~;t On this ..............~./.Sr~.`..-............. des of ......`~:lAt".=(!.`.~r...~~~.1!'""~.~--.............-...-......... 197..... before me persona:ly appeared - Q .................~.~to me np 1/ J ....1~0~~~.i............................. - ~n. who, being by me duly sworn. did depox and say that he resides ac -..~.9...~.l..(Q.......(/.2-~-.. .-.e.-~~~:C~If/l.-V..... ..~L -......--...................,,that he is the . ch- mrporarion described in a d p :ch executed ehe fore oing io- ~ stru~ent; that he knows the stal of said corpr~rhtion; that the st:al affured to said instrument is such corporate seal; that ie ens so aftzed by order of the Bcud of Directors of said mtporation, aad tl,ac he signed his name th re by like order. ....-L;....Y :7r;; CORPORATE ACKNOWLEDGMENT Notary Pu:;:~-. = '+~w York - STATE OF NEW YORK Qaa'~..~--'s - > -tarty 1 Commiss:o:; E:<~ir••s rch 30.198/ COUNTY OF ~ - J ~ ;I ~ ~ ~ ~ Oa this des of ..'1.~~.t.4!1.Y!'.................................-, 197..... before me persomlly appeared W me known, who being the duly sworn, did depose and !ay that 6e resides ...~6~-...(iQ..'.~..~IG.~Fdi!'~.. j ..~..~~~V~.:T.L~...~~f! c heu(th~r~IE++tc.~LC~GRw.......:....................._..........---.............. of ...-Qr...l~.~-•-• ..~~7 ~~i~~-•~ the corporation desuibed in and whirls executed the foregoing in- srrument; that he knows the seal of said corpo rion; that the aLrized to said instrument is such corporate seal; chat it was so aenxed by order of the Board of Directors of said corporation, and that he signed his name there by like order. l ~ Notary Fri:.;;, , ~•.v Ycrk ' L.. .y / ~ Comrriss:x~ i_.~:.• s , 3J. 19~' • "R 319 ~~~E 233.0