HomeMy WebLinkAbout0084 ' SECURITY AGREEMENT lC ?~ATTEL MOR TGAGEI ~ RAMCO FORM {1 ~
~ UNIFORM COMMERCIAL CODE LINO. OR CO HP.)
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(CHA7~.L MOR7IGAGE)
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<et~ht8 ~greetttettt, made the 1st day of January l~ 80
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tutder the laws of the state of Florida
~~Ft~Ueelt CRAIG C . MATTHEWS
herein called the Debtor
whose business address is (if none, write "none") 2101 North Old Dixie Highway,
Fort Pierce, Florida, 33450
and whose residence address is
and UNITED PARTNERS III , INC . , a Florida Corporation herein called the Secured Percy
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whose. address is p,O.Box 1152, Fort Pierce, Florida, 33450
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To secure the payment of an indebtedness in the amount of = 355, 000.00 with interest,
i ` payable as follows:
'i Twelve (12) equal monthly payments of $5,000.00 with the first
payment to commence on February 1, 1980 and a like sum on the
'i corresponding day of each like succeeding period thereafter; and ~
commencing February 1, 1981 equal. monthly payments of $6,000.00
with a like sum on the corresponding day of each like succeeding ~
period after February 1, 1981 until the entire principal balance
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is .paid in full.
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as evidenced by a note or notes of even date herewith, and also to secure any ocher indebtedness or liability
' of the Debtor to the Secured PacEy direct or indirect, absolute or contingent, due or to become due, now existing
of hereafter arising, including all future advances or loans which may be made at the option of the Secured
Patty, (all hereinafter called the "obligations") Debtor hereby grants and conveys to the Secured Party a .
security interest in, and mortgages to the Secured Patty, ,
(a) the property described in the schedule herein (hereinafter called the collateral), which collateral the
` neF,tor represents hill hr ucPd primarily
for personal, family of household purposes in farming operations in business of other use
(b) all property. goods and chattels of the same classes as those scheduled, acquired by the Debtor sub-
sequent to the execution of this agreement and prior to its termination
(c) ail proceeds thereof, if any,
(d) all increases, substitutions, replacements, additions and accessions thereto.
DEBIlOR [VARIZAN7S COVF.NAtVTS AND AGREES AS FOLLOWS:
To pay and perform all of the obligations secured by this agreement according to their terms.
~Co defend the title to the collates! against all persons and against all claims and demands whatsoever, which
collateral, except for the secu:it} interest granted hereby, is lawfully owned by the Debtor and is now free. and clear of '
an and ail liens, secutit}' interests, claims, charges, encumbrances, taxes .tnd assesstents except as may be set.~orth
in the schedule.
On demand of the ,ecured part} to do the following: furnish further assurance of title, execute any written agreement
or do any other acts necessary to effectuate the purposes and provisions of this agreement, execute any msttument or state-
ment required by law or otherwise in order to perfect, continue or terminate the security interest of the Secured Patty in
1 the collateral and pa}• all costs of filing in connection therewith.
` To retain possesswn of the collateral during the existence of this agreement and not to sell, exchange, assign, loan,
' deliver, lease, mortgage of otherwise dispose of same without the written consent of the Secured Party. ~
To keep the collateral at the location specified in the schedule and not to remove same (except in the usual course of
business for temporary periods) without the pilot written consent of the Secured Party.
To keep the collateral free and clear of all liens, charges, encumbrances, taxes and assessments.
! To pay, when due, all taxes, assessments and license fees relating to the collateral.
( •Co keep the collateral, at Debtor's own cost and expense, in good repair and condition and not to misuse, abuse, '
# waste or allow to deteriorate except for normal wear and tear and to make same available for inspection by the Secured
Patty a[ all reasonable times.
To keep the collateral insured against loss by fire (including eaended coverage), theft and other hazards as the
Secured Party may require and to obtain collision insurance if applicable. Policies shall be in such form and amounts and
with such companies as the Secured Party may designate. Policies shall be obtained from responsible insurors.authorized
to do business in this state. Certificates of insurance or policies, payable ro the respective patties as their interest may
appear, shall be deposited with the Secured Party who is authorized, but under no duty. to obtain such insurance upon ~
failure of the Debtor to do so. 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 with insurors. Debtor hereby appoints the Secured Patty the
F attorney for the Debtor in obtaining, adjusting and cancelling any such insurance and endorsing settlement drafts and i
hereby assigns to the Secured Party all sums which may become payable under such insurance, including return premiums :
and dividends, as additional security for the indebtedness. 1)R ~ .
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