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Home My WebLink About04103~CURITV •ORE[IdiNT fCMATTCt ~tORTGAGEI UNIFORM COMMGI~CIA~, CO~E IIND. 01~ COpP.I RAyCO RQRM ~~ ?, ~PClil't~~ ~~~QritEri~ , ~ ~ 514361 . (CNATTF.L MOR7~ACE) + ~~~lS ~aYfPlliPttf~ made che ~7 ~ day of ~a-/IZl~OcJ 1981 , ~ i uader the laws of the state of F102'lda ~~~PttUpPtt C~p~,~S O. HUCKABA, d/b/a RAINBOW BEAUTY SALON ' herein called the Debour ' whose business address is (if none, write "none") 1311 Delaware Avenue, ;~ Fort Pierce,~Florida, 33450 ,; and whose tesidencc addtcss is 'j . • ~~ and SALLY SHORTRIDGE,d/b/8 Sally' S Hair FaShiol~s herein called the Secured Patty + ; whose address is p,O.Box 3974~FoY't Pierce, Florida, 33454 ; ; i ~it11C8$E`t~l: ~, To secuce the paymrnt of an indebtedness in the amount of t$~ 000 . 00 with interest~ , ~ payable as follows: . '! $4,000:00 to be paid at closing and the remaining $4,000.00 '~ payable in quarterly installments of $250.00 plus twelve (12$) !~ percent interest. First payment of $250.00 plus interest to '~ commence on May I, I981 and payable qyarterly thereafter until ~~ paid in full. The Debtor reserves the right of prepayment ~ without penalty. as evidenced by a note or noces of even date herewith, and also co secuce any ocher indebcedness or liability of che Debtor to che Secured Pacty direct or inditect, absolutc or con~ingent, due or to become due, now ezisting ~ , or hereafter arising, including all futute advances or loans ahich may be made ac the option of the Secuted ~ Party, (all hercinaEter calied the "obligations") Debtoc ;~ereby grancs and conveys to the Secuted Patty a` secutity incerest in, and moctgages to the Secured F'arty, (a).the property described in the schedule herein (hereinafcer called the collateral), which collateral che Debtor represents ~ill be used primarily _ j for personal, family or household putposes ~; io farming opecations ~ in business ot other ase (b) all property, goods and chattels of the same classes as those scheduled, acquiced by the DeDtor sub- , sequent to the execution oE chis agreement and pcior to its cerminacion . (c) all proceeds theceof, if any, . ' (d) al! increases, substitutions, teplacements, additions and accessions thereto. ~ DF.BlUR ~VARRAtVIS, COVENAN'IS AND AGREES AS FOLLOWS: ; ~ To pay and perfoem a11 uf the obli~catiuns secured bt• this agrcement accotding to theit tertns, :~ To defend the citle tu the coilateral against all persons and agair~st all claims and demands whatsoeve[, which ~ ; collatera{, e:cept for the secunty incetest granceJ hereby. ~s Iaa~fully,owned by the Debtot and is now [ree and clear of t ;:u~y and all liens, security interests, ciaims. charges. encumbcances~ ta:es and assessmcnts ezcept as may be set forth ; i in the schedule. ~ On demand of the secured party io do the following: furnish farthcc assutar.c~ oE title. ezecute any wricten agteement ~ ~ ot do any otheracts aecessary to effectuate the purpuses and provisions of this agreement,execute any msttament otstatr ~ ' ment required by lawr or otherwise in ocdet to peifect, continue ot tenninate t6e secuaty interest of che Secuced Party in ; ;' t6e collateral and pay all msts of Eiling in connection thereaith, ~ To retain possession of the collatetal during the existence of this agreement and not to sell. exchange. assign, loa~. i ; ~ deliver. lease, mottgage or otherwise dispose of same without !he aritten conseat of the 5etuted Pacty. ; ~~ To Iceep the cailateral at :h~ location specified in the schedule and not to remove same (ezceDt in the us~al coutse of ' ! business (ot tempocary periods) without the prior N•ntten coasent of the Secuted Part~. t ~i To keep the collateral free and ciear of al! liens, chatges. eacumbrances~ ta:es and assessments. ~ ij To pay, w-hen due, a11 ta:es, assessments and licrnse fees relating to ehe collatecal. To keep the collateral. at Debtot's own cost and e=pense, irt good tepait anE condition and not co misuse, abuse. ' ~! waste or allow to dcteriorate eYCept for nonnal weat and tear and to ma{ce smne available for inspection by the Secuctd ~ ~~ Patty at all reasonable times. ~ ;~ To keep the collaterai insured a$ainst loss by (ite (including e:tended covetagt) theft and othet hazatds as the ! , ;! Secured Patty may require and to obtain collision insurance if aPplicable. Yelicies shall ~~ in such fotm and amounts and j ~ wieh such compan~es as tF.e Securcd Party may designace. Policies sha11 be obcained from responsible insueiots.au~6otiud ~ ; to Jo business in this state. Certificates of insutance ot policies, payable co the respective.parties as their interest may ! ; appear, shall be depositcd with the Secured Party who is authotized~ but under no dutv. to obtain such insutance upon ` ;; fai-ure o( che Debtor to do so. Debtor s6a11 give immediate wricten notice co the Secured Pacty and to insucocs of loss or i t! damage to che coliateral and shall prompciy 6le proofs of loss with insurnts, Debtor hereby aQpoints che Secured Patty the a~corney foc the Debtor in obtaining~ adjusting and canceiting rny such insurance and eadotaina settlement dtrfts and i~ herebY assign s to the Secured Patcy all sums which may become payable undet such iasucance, includioa retum ptemiums ~ and dividends. as add~tional security (ot the iadebtedness. j i a~~K347 ~~~E ~09 3~ I : ~~,~. ~.y ,_ . ._ . _-_ -- ~ ~-- -- .~.~~.