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>~g Not To on na~se~i, p~op~fy
Kll<1td ~ ~ That the Undersigned. hereinafter called the "Borrowers", for and >n
consideration of the sum of TEN DOLLARS (=10.00) and other ggood and valuable considerations unto them in hand
paid, the receipt whereof is hereby ackrwwledged, and for tTie purpose of inducing FLORIDA B AT
FORT PIERCE, a Florida banking eorporatian, hereinafter called the "Bank", to grant credit unt~tun4 ed
under a promissory note in the principal sum of 12,000,000.00 dated Apra 0,
ortopurcbase from y f A herein referred co as "Dealer". the promissory note of the
undersigned for the sum of = NTH ,dated ,and payable to Dealer, the undenlgned here-
by joint?y and severally covenant, promise and agree as oUows, to-wit: i
1. So long u the note hereinabove referred to, or any ppoortion thereof, or any extetuion or renewal thereof. and
also any andallother indebtedneuofthe Bormwen, orreither of them, to said Banlc, whether joint or several, here-
tofore or hereafter incurred, of an • nature whaucever, :lull remain unpaid, either before or after the maturity
thereof, the said Borrowers will do t~e followin things, to-wit:
(a) Pay promptly when due all fire and windSt~rm insurance pprremiums, taxes, auessments, dues and charges of
every kind imposed or levied upon thetr real and personalpropertyprior tothe tune when any such sums shall
become delinquent or in default; and ~
(b) Promptlypay when due any and all sums due and owing on any mortgage or other encumbrance on the prop-
ertyhereinaf(ter described and will never suffer or permit any mortgage lien or encumbrance thereon to be-
come delinquent or go into default.
2, The Borrowers agree that they will not, without lust procuring the consent in writing of the said Bank here-
after create or permit any lien or other encumbrance to exist on then propene, real or personal, now owned or here-
after acquired by them including, but not Umtted to. the property hereinafter described.
3, The Borrower agree that they shall not have the privilege, nor will they sell. transfer, assign, hypothecate, or
_ in any manner whatever, dispose of the property, or any interest therein, owned by the~rt, including specifically, but
not limited to, the following real estate situate, to-wit; (Description of Property)
SEE ATTACHED EXIBIT A
so long as any indebtedneu or obligation shall remain unpaid as hereinahove referred to !n Paragraph 1,
4, If the Borrower shalldefaultfnanyofthe covenants. promises. and agreements herein contained to be made,
done, and performed by them. or if they shall attempt to transfer, sell, hypothecate, dispose of or encumber any of
the property of the Borrowers without fiat proctuing the consent in writing of the Bank therefor. then in either or any
of such evenu, the Bank may, in addition to any and all other righu which the Bank may have, declare the entire
remaining unpaid principal and interest of any such obligations or indebtednesses then remaining unpaid to the Bank,
due and payable forthwith and shall, as security for payment thereof. have a lien on all of the property of the
rowers, both real and personal, including, but not limited to, the real estate hereinabove described, which 1~~:~~':;llii `
be enforced by foreclosure in the same manner as a mortgage may be enforced for default, •;G.~`: _ „ .
IN WITNESS WHEREOF, the undersigned have hereunto set their hands and seals at _
r~-~~' ~
County of- St. LueiP ,State of Florida, this 10th day of Aril d~g$~, j a: _
c~~c~d
ed. sealed and delivered in the ence of: ~~s e„t ` . ~ ;
'.,t `
WORLD F PLASTI INC. ~+~d~l-~•'
s • ~ A,' •
,w~L)
a De aware Cor ~ ~ ~ ~ `
l~~
(SEAL)
P esident onowen)
STATE OF FLORIDA
j COUNTY OF St _ L. Sri
fi
E BEFORE ME, a notary Public in and for the State of Florida at Large, personally appeared David Stuart,
j President of World of Plastics, Inc. known to me to be the person(s) whose
names(s) is/are subscribed to the within insuument and acknowledged to me that he executed the same for the
purposes therein expressed.
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WITNESS my hand and official seal at Ft. Pierce ,County of St. Lucie
State of.Florl~;~thic 1Dth day of April , 19 , ,
i _ ~`:~S~AL~'j- ta~ylRAtii~t ~~~rge)
fly Commissian Expires lan. 15, 1983
? ~ j~~'
i ~ - My Commission Exptres -
lt. '•;j=lam :L.~t'
:;t-~
Thin instrument wu preened by: Edith I. Williamson -
's
FLORIDA BANK AT FORT PIERCE
s Address: P,O. Box 3469
. Ft. Pierce, Florida 33450
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