HomeMy WebLinkAbout3003 aggregate sum mentioned in the Note secured hereby, less previous
payments, if any, and any and all other sums mentioned herein due
to Seller or secured hereby shall become due and payable forthwith
or thereafter at the continuing option of Seller as fully and com-
pletely as if said aggregate sums were originally stipulated to be
paid at such time, anything in the said Note or other documents
referred to herein to the contrary notwithstanding, and Seller may
exercise from time to time any rights and remedies available to it
under the Uniform Commercial Code as it is in effect from time to
time in Florida, or otherwise available to it, including those rights
and remedies available under any written instrument (in addition to
this contract) relating to any of the obligations of Purchaser to
Seller.
12: REMEDIES UPON DEFAULT:
In this paragraph, Seller shall include Seller and Holder. Upon
any event of default Seller or Holder, as their interest may appear,
shall have the following remedies:
(a) Seller shall have all of the rights and remedies
of a secured party under Florida's Uniform Commercial
Code;
(b) Seller shall have the right to take possession
and full and sole ownership of all of the Equipment
without need or necessity to account to any party
for the valuation of such Equipment. Further, in the.
event Seller elects to take possession and ownership
of the collateral there shall be no need or necessity
to comply with any of the Uniform Commercial Code
Requirements or this contract regarding public or
private sale, bids or the like;
(c) Seller may resell the Equipment at public or
'private sale with or without demand for performance,
with or without notice, with or without the Equipment
at place of sale, and upon such terms as Seller may
determine and to that end Seller may make such repairs
as it deems necessary. Seller may bid at any public
sale. From the proceeds of any sale, Seller may deduct
all expenses of retaking, storing and selling the
Equipment including all legal fees and expenses. 'Ihe
~ balance thereof shall be applied to the amount due;
any surplus shall be paid over to. Purchaser, and in
case of deficiency Purchaser shall pay the same with
interest at the maximum rate of interest provided by
law. Such repossession shall not affect Seller's
right hereby confirmed to declare this transaction
and Purchaser's obligation under this contract to be
terminated and cancelled and to retain all payments
made prior thereto by Purchaser hereunder as liquidated
damages and not as a penalty.•
Purchaser's failure, or ceasing to insure shall constitute an event
of default; however, in the event Purchaser fails to insure as afore-
said, Seller may, but shall not be obliged to insure the Equipment,
and the cost of any premiums incurred shall become immediately due and
payable by Purchaser and shall bear interest at the maximum rate of
interest provided by lacy.
13: PURCHASER'S LIABILITY NOT AFFECTED BY REPOSSESSION AND RETENTION:
Repossession and retention, sale or right thereto, shall not affect
Purchaser's liability until full payment has been made irr cash, nor shall
it affect Seller's right to sue Purchaser at any time ter any moneys
due and payable, whether due by the terms of payment as set forth in -
this contract or which have become due and payable by reason of failure
or default on the part of Purchaser in fulfillment of any of the pro-
visions of this contract. Purchaser expressly waives the benefit of ~
each and every provision of any law in force relating to retaking and
reselling, which would in any way affect the right of Seller to recover
a deficiency from Purchaser after resale. Seller shall Nava the right
to enforce one or more remedies hereunder successively or concurrently,
and such action shall not operate to stop or prevent Seller from
pursuing any further remedy. If any provision of this contract is
_ - ~x`~~9 P~~~2g90
annc.