HomeMy WebLinkAbout1725 SCHEDULB 1 OF SECURITY AGREEMENT BETWEEN
HUTCHiNSON ISLAND LIMITED, INC. (DEBTOR) AND
THE FIRST NATIONAL BANK OF CHICAGO (SECURED PARTY)
All fixtures and equipment, and personal property of every nature now
and hereafter owned or acquired by Debtor and located in, on or in connection with
Catamaran II, a proposed condominium, including but not limited to the construction
of 166 residential units in six (four to six story) buildings, together with tennis courts,
swimming pool and parking facilities all as described in the Loan Agreement executed
this date, together with any and all other site improvements, located in St. Lucie
County, Florida, including, without limitations, all furniture, carpeting, linens,
appliances, abstracts of title, fill, landscaping, books, records, office equipment and
supplies, accounts receivable, insurance policies and prepaid items, and lighting
equipment and maintenance equipment and supplies, and all additions thereto and all
renewals, replacements and replenishments thereof; and including as a part of the
realty, heating and air conditioning units, equipment, machinery, ducts and conduits
whether detachable or not, now owned or hereafter acquired by Debtor and located in
and about the following described premises, including all additions thereto and all
renewals, replacements, proceeds and replenishments thereof described as follows:
See Exhibit A, and A-1 attached to this Schedule 1
All and singular the tenements, hereditaments and appurtenances thereto belonging~or
in anywise thereunto appertaining, including the rents, issues and profits thereof, and
also all the estate, right, title, interest and all claim and demand whatsoever, as well
in law as in equity, of Debtor in and to the same, including but not limited to:
(a) All rents, issues, profits, revenues, royalties, rights and benefi
derived from the premises from time to time accruing, whether unde~
leases or tenancies now existing or hereafter created, reserving to
Debtor, however, so long as Debtor is not in default hereunder, the
right to receive and retain the rents, issues and profits.
(b) All judgments, awards of damages and settlement hereafter made
resulting from condemnation proceedings or the taking of the premises
or any part thereof under the power of eminent domain, or for any
damage (whether caused by such taking or otherwise) to the premises or
the improvements thereon or any part thereof, or to any rights
appurtenant thereto, including any award for change of grade of
streets. Secured Party is hereby authorized, on behalf and in the name
of Debtors, to execute and deliver valid acquittances for, and to appeal
from, any such judgment or awards.
i
~ (c) All policies of insurance, together with any proceeds therefrom,
~ together with any abstracts of title covering the land described in that
certain mortgage from the Debtor as identified hereinabove, in favor of
the Secured Party, as identified hereinabove, encumbering the above
described real property.
(d) All contract rights,' causes of action, claims, dcma~lds; accounts
receivable, all contracts to sell any portion of the property secured
hereby or by the mortgage, all deposits under such contracts, all
commitments to make mortgage loans on the property encumbered by
the mortgage.
(e) All Deposit Receipts and Purchase and Sale Contracts, all reser-
vation deposit agreements (if any), all contract applications (if any), all
notices of intent to convert to condominium ownership, all escrow
agreements relating to such agreements and all receipts foe offering
circulars heretofore or hereafter entered into and all earnest money
deposits heretofore or hereafter received by Debtor or by an escrow
holder in connection with the sale of condominium units in the property
known as Catamaran II St. Lucie County, Florida, and legally described
in Exhibit A-1, subject in the case of such deposits to all rights of
purchasers, and subject to the Florida Condominium Act, and the
Florida law with respect thereto.
$ BQOK JJ~ ?AGE
{
v
-3:~. _
'-a`-.