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satIJRITT AtiN<<MENT ICNATTRt. NONTOAOia FOAM K
UNIIORM COMMagC1AL COOL{ IINO. Olt CONV.I
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(CHATTEL MOR7L^AGE) ~a 5 0
~hiS ~greeinentr made the 20th day of October, 19 80
under the laws of the scare of Florid8
~ettveett . DIANE ggpD~ herein called the Debtor
whose business address is (if none, write "none") _ '
371 E. Midway Road, Ft. Pierce, Florida 33450
and whose residence address is 338 Melton Drive, Fort Pierce, Florida 33450
and MARCIA t1AX ~ herein called the Secured Parry
whose address is 104 Germani Dr. , Ft. Pierce, Fla. 33450
~itiiesseth:
To secure the payment of an indebtedness in the amount of s 15, 000.00 with interest, payable as follows:
Repayable at the rate of $155,51 per month, principal and interest
included, with the first payment due November 20, 1980 and each
and every month thereafter until paid in full (11 years).
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as evidenced by a note or notes of even dace herewith, and also to secure any ocher indebtedness or liability of the Debtor
co the Secured Party direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising,
including all future advances or loans which may be made ac the option of the Secured Party, (all hereinafter called the
"obligations") Debtor hereby grants and conveys co the Secured Patty a security interest in, and mortgages co the Secured
Partyy,
(a) the property described in the schedule herein (hereinafter called the collateral), which collateral the Debeor
represents will be used primarily
for personal, family or 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 subsequrnt to the -
execution of this agreement and prior to its cerminacion
(c) all Qroceeds thereof, if any,
(d) all cnereases, substitutions, replacements, additions and accessions thereto. -
DEB'117R WARRANTS, COVENANTS AND AGREES AS FnLLOWS:
To pay and perform all of the obliguions secured by this agreement aecordina to their terms. ;
To defend the title to the collateral against all persons and against all claims 'and demands, whatsoever, which
collateral, except for the security interest granted hereby, is lawfully owned by the Debtor and is now free and clear of ;
i any and all liens, security interests, claims, charges, encumbrances, Gazes and assessments a:ceps as may 6e set [otth
in the schedule. -
On demand of the secured party to do the following: furnish further assurance of title, ezecute any written agreement or
do any other acts necessary to effectuate the purposes and provisions of this agreement, execute any instrument pr state-
ment required by law or otherwise in order to perfect, continue or terminate the security interest of the Secured Party in the
collateral and pay all roses of filing in connection therewith.
To retain possession of the collateral during the existrnce of this agreement and not co sell, ezchange, assign, loan.
E deliver, lease, wortgage or otherwise dispose of same without the written consent of the Secured Patty.
~ To keep the collateral at the location specified in the schedule and not to remove same (ezcepc cn the usual course of
business for temporary periods) without the pnor written consent of ehe Secured Patty.
To keep the collateral tree and clear of all lirns, charges, encumbrances, razes and assessments.
To ppaay, when due, alt taxes, assessments and license tees relating to the collateral.
To kee the collateral, at Debtor's awn cost and a:pence, in good repair and condition and available for inspection by
the Secured Party ac ail seasonable times.
To keep the collacetal fully insured against loss by fire, theft and other casualties, Debtor. shall give immediate ~
wrtteen notice to the Secured Patty and eo insurors of loss or damage co the collacenl and shall promptly file proofs of loss
with insurors. -
~ ; THE PAR7fiES FURTHER AGREE
~ t
~ Waiver of or acquiescence in any default by the Debtor, or (allure of ehe Secured Party co insist upon strict performance S
f by the Debtor of any warranties of agreements in this security agreemrne, shall not constitute a waiver of any subsequent
or other default or faelure. '
:Vortices tc either party shall be in writing and shall be delivered personally or by mail addressed to the party ac the
address herein set forth of otherwise designated in writing.
The Uniform Commercial Code shall govern the rights, duties and remedies of the patties and any provisions herein de•
Glared invalid under any law shall not invalidate any other provision or this agreement. 3
E ~ The folbwing shall constitute a default by Debtor:
Failure to pay the princi~l or any installment of principal of of interest on the indebtedness or any noces whrn due.
Failure by Debtor co canp y with or perform my provlston of this agreement. False or misleading represrncations of war-
ranties made or givrn by Debtor in rnnnection with this agreement. Subjection of the collateral co levy of execution or
ocher judicial process. Commencemrnt of any insolvency proceeding by or against the Debeor. Death of the Debtor. Any re-
duction in the value of the collateral or any act of the Debtor which imperils the prospect of full performance or satisfaction
of the Debtor's obli scions herein.
j 'U n any defau~c of the Debtor and at the option of the Secured Party, the obligations secured by this aareemrnc shall
~ immediately become due and payable in full without notice of demand and the Secured Party shall Gave all the rights, rem-
edits and privileges with respect co repossession, retention sad sale of the collateral and disposition of the proceeds as
are accorded by the applicable sections of the Uaifotm Commercial Code respecting "Default"
Upon any default and upon demand, Debtor shall assemble the collacetal sad make it available to the Secured Party at
the place and at the time designated in the demand.
Upon any default, the Secured Partys reasonable actomeys' fees and the legal and ocher ezpmses [or pursuing,
searching for, receiving, taking, keeping, stotio~, advertising, and selling the collateral shall be chargeable ro the Debtor.
The Debtor shall remain liable for any deficiency resulting from a sale of chr collateral and shall pay any such de-
ficiency forthwith oo demand.
If the Debeor shall default in the performance of an~r of the provisions of this agreement on the Debtor's part to bepet-
formed. Secured Party may perform same for the Debeor s acrnunt end .ray monies a:pended in ao doing shall be chargeable
wic6 inceresc to the Debtor and added to the indebtedness secured hereby.
The Secured-Patty is hereby authorized co file a Financing Statement.
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X341 8Q1
MIDSTATE LEGAL SUPPLY CO.-OIiLAN00, FLA.
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