HomeMy WebLinkAbout1843SECURITV AGREEMENr (CHATTEL MORTG~GEI
UNIFORI.~ COMMEiiC1AL CODE (IHD. ON CORP.I
~EC1iL'if~ C~~~PritCttt
(CNAl7'F.L MOR7~GACG)
(~~~18 ~lgreeuteitt~ rnade the 11~- day of
under the law•s of thr state of Florids
~~fflUeett Riahe~rd E. Baker and Donr-a F. Balcer
RAMCO FOFM OZ t/
51~663 ~
/~
l~sy ~~79
herei~ called the Uebcor
whose business address is (if none, ~rrice "none")
1608 South 31st 3trest. Fbrt Piex'ce, Florida 33450
and whose residrnce address is 703 (lalilsan 3ts'eet~ POI~`fi. St. Luo1e~ Fla. 3'}~~j2
and AllZi~ld~' R. D~a1`DO hetein called the Secured Party
whose address is ~31 N~ '~'j~h $tl`QBt~ Pbrt Pieroe~ Florida 33450
,Zliltlll'SSl`t~t:
'fo secute the payment of an inJebtedne~s in the .unount of S B~Vp~j' ~~ w'it~~ trcrst, payablr as folluws:
FYrat ps~aaent of =168.45 due July 1, 1979, and 47 more paymenta
of =168.45 due the firat of eaoh month thereafter.
~s evidrnccd b}• a note or notes uE •~•rn date hereNe;h. and alco tu +ecurr .my u[her in.~rbtednr~s or liability of the Uebtor
to the ~erutrd Yart}• direct or indirrc[, absolute or cuntingent, .lue or ro brcume dur, now r:is~ing or hereafter arieinK,
including ~II fu~urr aJ:•ances or lu.+ns which ma}~ br madr .i~ ;hr opeion of ehe Secure.: f'artq, (all hereina(ter called th~
'bbligations") Uebtor hereby ~;c:+ntti an.i com•eys to ehr ~e~urrl 1'.~ctg a secutity interest i~. and mortgaRes to the Secured
Part }•.
(a) the property described in the schrjuie hrrrin (hrreinafter c.~lled the collaterai)~ which collateral the Debtot
tepresents wiU be used primerily
~ for personal, f.unily o[ house}wld pucposcs ~ in farminK uprration+ ~ in business ot other use
(b) all prop ett}•, goods and chattels of the same classes .~s thosr scheduled. acyuired by the Uebtor subseyuent to the
execution of this agrerm_~t =-•! ;+riur to it~ trrmination
(c) all ~roceeds theteof, if an~•,
(d) aii incteasrs, subsututions~ teplacements, .~dd•,tion~ .-nd accessions theteto.
DEBIr3R LVARRAIVlS, COVCNA~V7~ AND ACREES AS FOLLOWS:
To pay and perform aU of the obliRations secured by this aRteement aecording ~o their tetms.
"l~o defend the title to the collatetal ag~inst aU persons and :~Kainst all claims and demands, w'hacsoeaer~ ahich
collatersl, e:cept for the srcurity int~rest ftrantrd heceby, is lawfuUy owned by the Debtor :~nd is now free and clear of
any and a11 liens. secutity int~rests. claims, charKes, encumbrances, taxes and assessments eueFx as may be set fotth
in the schedule.
On demand of the secured party to do che Eolluwin~;: furnish Eurthet assurance of title. e:ecute any wtitten aKreement or
do any othet acts necessaty to eFfectuate the purpuses .ind prorisions of this aRrcrment. execute an~• instcument or state-
men[ reyuited by law or otherwise in otder to pe:fect. cuntinuc ur terminate thr aecurit} intetest of the Secured Patty in the
coUateral and pay al( cos:s o( filing in cvnnrctiun thetev~ich.
To retain possession of thc coUatetal lutinR the e:istrnce of this aKrcement and not to sell, r:chanRe, Assign, loan.
delicer. lease. mottgage ar otherwise dispose uf s~ri~ withuut ehr w~ritten consent of ~he Secured Yatty.
To keep the collateral at the location specifird in the schedulr ar.:i not to remove same (t:ceEx in the usual coursr o(
business for temporary Exriods) without the prior written consent of the Secured !'arty.
To {ceep the collatecal Eree and cirar o( all lirns, charKes. encumbr.~nces, taxrs and assessments.
:~o pay, ahen 3ue. :~II ta:es~ rssessments arn1 ;ice~se [ees relating to the collateral.
To {ceep the collatetal. at Uebtor's ow•n cost and e:pense, in Ru~x1 repair ac~ condition a~xi a~ailable for inspection by
thr Jecured 1'acty at all teatonab(e times.
To Iceep the collateral fully insurel aKainst loss b}~ fite. theft an•.i other :asu:~lties~ Debtor shall Rive immediate
written notice to the Secured F'azty~ ~nd to in+uto:s of los~ or damage to the collateral and shall promptly file proofs of loss
w~ich insucors.
! f/L•' PAR 7 JI;S FURTI ~I R ACREE
~ ; ~A'aicer of or acyuiescence in .~n~• default by the Uebtor, or failure of the Secured Yarty to insist upon strict perfotmance
by the Uebtor of an}• warr.~nt~rs or aKreemer.ts ~n this secucity aKreement, shaU not consutute a w•aiver o( any subseyuent
~ or other defauli or failure.
~ \otices to either pacty shall be in vntinK and shall bt delivered prrsonally uc by mail addtessed to the patt}• at the
~ ( address herein set fotth or otherwise desiRnated in writing. '
I Ihe Uniform Commercial Ca±e sh.~ll Rocem the riRhts, duties and remedies of the patties rnd an}• pro~•is~ons hetein de- ~
i clared invalid under any law shall not inealidate any other pro~is~on or this agreement.
~ i 'Che follo~+inR shell constitute a Jefault by Uebtor: a
` Eailute to pay the princi~ai or any installment o( principal or of interest on the indebte.iness ot any notes w•hen due.
i Fai(ure by Debtot ~o comp y w~ith or perform any pro~•zswn of this ~greemmt. Fa:se or misleading represcntat~ons or war-
~ ranties made or given by Debtor in connection aith this agreement. 5ubjection of the collateral to levy of e:ecution or
~ othet judicial ptocess. Commencement of any insolcency pcoceeding by or against the Uebtor. Urath of the Debtor. Any re-
~ duction in thevalue of the collateralor any ~ct of theDebtor which imperils the prospect of full perfocmance or satisfaction ~~
I of the Debtor's oblig acions herein.
f l3po n any default of the Debtor and at the opnon of the Secured Patty, the obligations secuted by this agteement shall
'i I immedia[ely become Jue and payable in full with~ut no~ice oc demand and the Secured Parey shall have all th~ tights~ rem-
I ` edies and privileges with respect to repossessian. reten[ioa ~nd sal~ of the collatecal and disposition of the proceeds as '
~ are accorded by the applicable sections o( :he Uniform Commercial Code respectinq "Default".
Upon any default and upon demand, Uebtor shall assemble the collatecal and mal-e it available to the Secuced F'arty et
the place anJ at the time desiqnated in the demend.
Upc~n any default, the Secured Party's reasonablt attorneys' fees and the legal and othec ezpenses (or putsuing.
searching for, teceiving, taking, keeping, storing. advertising, and selling the collateral shall be chacgeabls to the Debtor.
17ie Debtoc shall remain liable for any dcficienc}• resultinR from a sale of the collateral and shall pay any such de-
ficiency focthRith on demand.
If the Debtor shall default in the performance of any of the provisions of this agteement on the Debtot's part to bepet-
(ormed, Secuted F'arty may per[orm same (or the Uebtor's account and any monies e:pended in so doing shall bechargeable
with intetest to the Uebtor ar~1 adJed to che in.lebtedness secured hereby.
Tiie Secuted Patty is 6qreby authorized ~o file a Finar.cing Statement. 1
~ ~eox349 PAG~~84~
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