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.Z RAMCO FORM \ '
fECURITY AOREEMEHT IGNATTEI. MORTOAOEI _
UNI/ORM COMMERCIAL COOS LINO. OR cORP.I i ~ 4 '
~EClil't#~ ~~PPYttEri~
_ (CHATTEL MOR7IGAGE)
~ht8 ~artPlttPtlf, made the first day of Deoember 19T9
under the lags of the state of Florid8~ in the city o! Fort Pierce
F
~ettv¢¢tt David l[ims and his wile Linda mailing address 1
3II-A-North I2TH. Street, Fort Pierce, Florida ~
herein called the Debtor
` whose business address is (if none, write "acne")
C/0 Florida Atlantio Assooiates, T300 West Highway #60, West
and whose residence address is 20TH. Streets Vera Beach, Florida.
As o! current record.
and C11!lord Johnson---------------------------- herein called the Secured Patty
whose address is 250 S. E• Verada Avenue, Port St. Lucie, 33452,F1orlda.
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To secure the a ment of an indebtedness in the amount of = with interest,
PY 5,000.00------------
1 payable as follows:
II The principal sum o! Five Thousand Dollars ($5,000.00)
together with interest thereon from date at the rate o! I2~6
(Twelve per cent) per annum until maturity, said interest being
payable monthly on. the first day o! each and every month both
principal and interest being payable in lawful money of the
IInired States at 250 S.E• Verada Avenue, Port St, Lucie, 33450
Florida, or at such other place as the holder hereo! may
designate in writing. Principal and interest payable in blended
monthly payments o! One Hundred and Ten Dollars and Fifty Cents
($IIO.50) each on the first day o! each and every month,
` beginning on the~lirst day o! January I980, and continuing until
said principal and interest have been paid. Each installment
payment shall be credited first on the interest then due; and
the remainder on principal; and interest shall thereupon cease
upon the principal so credited.
I~' as evidenced by a note or notes of even date herewith, and also to secure any other indebtedness or liability
of the Debtor to the Secured Party direct or itduect, absolute or contingent, due or to become due, now ezisting
of hereafter arising, including all future advances 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 Patty a
I~ security interest in, and mortgages to the Secured Party,
(a)che property described in the schedule herein (hereinafter called the collateral), which collateral the
Debtor represents will be used primarily
i ~ for rsonal, Tamil of household ur sea rn farmin o rations rn business or other use
I ~ ? Pe Y P Po ? g Pe L~
ji (b) all property, goods and chattels of the same classes as those scheduled; acquired by the Debtor sub-
Sequent to the ezecution of this agreement and prior to its termination
j (c) all proceeds thereof, if any,
(d) all increases, substitutions, replacements, additions and accessions thereto.
DEB7nR WAIRRANTS, COVENANTS AND AGREES AS FbLLOWS:
To pay and 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 al! claims and demands whatsoever, which
~i collateral, ezcept for the security interest granted hereby, is lawfully owned by the Debtor and is now free and clear of
j any and all liens, security interests. claims, charges, encumbrances, razes and assessmrnts ezcept as may be set forth
in the schedule.
On demand of the secured party to do the following: furnish further assurance of title, ezecute any written agteemrnc
or do any other acts necessary to effectuate the purposes and provisions of this agreemrne, ezecute any ursctumrnt or Starr
moot requited by law of otherwise in order to perfect, continue or terminate the security rncerese of the Secured Party in
the collateral and pay all rnsts of filieg in connection therewith.
To retain possessioe of the collateral during the ezistrnce of this agreement and eoc to sell, ezchange, assign, ban,
deliver, lease, moltgage or otherwise dispose of same without die written consent of the Secured Party.
To keep the collateral ac the bcation specified. in the schedule sed not to remove same (e:cepe in the usual course of
i business for eempotary periods) wiehouc the prior wtttteo coeseot of the Secured Party.
To keep the collateral free aed clear of all liens, charges, eecumbranees, razes and assessments.
To pay, when due, all to:es, assessments and licrnse fees relating to the collateral.
ii To keep the collateral, at Debtor's owe cost and ezprnse, in good repair aed condition and not co misuse. abuse, ,
! waste or allow to deteriorate a:ceps for normal wear and tear and to make same available for inspection by the Secured
i i Patty at all reasonable times.
To keep the collateral insured a~ainsc loss by fire (including ezteoded coverage) theft and other hazards as the
i i~ Secured Patty may require and w obtain collision iesurance if applicable. Policies shall ~e in such form and amounts and
Ij with such companies as the Secured Party may designate. Policies shell be obtained from responsible insurors.authoriud
i ~ co do business In this state. Certificates of iesurance or policies, payable to the respecdre patties as their interest may
i appear, shall be deposited with the Secured Party who is authorized, but under oo duty. co obtain such insurance upoe
j. failure of the Debtor to do so. Debtor shall dive immediate wrictee oocice to the Secured Party and to inaurors of loss or
~ ~ damage to ehe collateral and shall promptly file proofs of loss with insurors. Debtor hereby appoines die Secured Pattq the
attorney for the Debtor in obtaining, adjuseing and cancelling any such insuraoce and endorsing settlement drafts and
hereby assiggnns to the Secured Party all sums which may become payable under such iesurance, including rearm premium
and dlrldends, as additional security for the indebtedness.
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