HomeMy WebLinkAbout1624 :1r . . . ._~=~a<.:. . . . . _ . , . . . _ . . l . , , . . , .
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PRO~ IDED ALR'AY8, and thesa presente are ugon these exprees c~ndltlons, lhat if Mortgagar eh~ll gromptly pay to `
I?iortgagee _ _.S~nQ certain promissory note , even dste herewith, made by ~~_MQr~d~~r .c"li'id--- ~
payable to the order of ti~e Mortgagee at (See attached note) L
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PnY~We to the order of Mortg~gee, at . -
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AGR Prime + ~96 Interest semi-arinuall_y -
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~ Z~~a~Q~.d~ Tanipa, FloriJa ~ M~--~~-29 19 75 Note No.
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Vy~r"-=atNr date tha unde~~iyned (and if mora than on~, ea.:h ot th:m ~ointty and sevvatly), hereinafter calted Mxker,
pr~mist3 to pay tv the order ef 'I~f~ L~CEL~\GE nATIONAL BA~I: ~N' i_1\IPa, hereipatttr caUnd [3ar.k, at i's oitice at ~fampa, _
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F~orio~, the pr:ncipaf sum ot __`~^~0 Hundred _ Thousand__ and_ no 1~0---_____ oo!iars
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w~th i~tartst ther:un irom data hereof a: tha rate ot~ Fer an~um until maturity. and at t:~ percent per annum thereatter unLit paid. The ~lzker
sh~tl havo Lht p~ivitege and optian~ at any timc, t~ pay otf the e~tira principal ronuinina unpaid, or any part ihereof, togtther with inttrest therron ~
to date ut payment only As security for tha payment of thia notn Maker hereby ptedges to 9ank tha tollowiog Qroperty:
__`_Crop
La.en1^ ~~ss~g~ine[~t~~Fru~~__Proc~eds Real Es~~te M~xfig~g~_`~
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and all other groparty of A133cer now or hereatter delivered to or left In or corninp into the pouesaion, eontrol o~ Custody ot 8ank, whtther expreaaty
as Co~~ateral securicy or for any othar purpou (includinp att cash, etock ?nd o:her dividands and aIl rights to subscribe fer stcurities incident to, - -
deciared, or yranied in connect~on with such property)~ which property. together with all additions and substitutions, I~ callei the Collateral. The -
Coitatt~al is atso plsd9sd as sacurity tor ali ott~ar tiabiliqes (primary, aecondary~ d~rect, concengent. sofe, joirst or se~eral). 8ue or to become du• or
_~vh:~h may tra he~wfur contracted or acquired, ot each Maker (includinp ~acn t.laker and any other parson) to Bank, whether wch IiaGilitib arist .
' in ths ord~nary coursa of business or noL Riyht is hereby lxprrssly p~a~tt6 to the Hank at ~ts opUon to transfnr at any tim~ to.itself or to its =
nominee a~y Cqllatsral and to recClw the income thereon and hold tho sarne as security heretor or apply IL on ihc principal o~ intersst due
hereon or ..ue on any liabilfty secured heeeby, 7he wrrcnder ot thls oote, upon payment or otherw~st, shall not atfect ths ripht of B~r?k to re;sin
th: Coila~.ara1 fCr such athK IiaDlltt~ss. - .
It is Joi~:1y and scveratly covenanted and aprstd with ths Bank by each Rtaker, en~arser, surety. yuarantor, and cth~r party to this neit (all of
whom are hereinatter tor brev'r:y ullid Obli~or or Oblipon) that: .
Add~tions_ to, rsleasea, redustio~s or exchin~ea of. or substiWtions tor the Colla:eral. payments on accou~t of thia toan oc incroases of th~ aame.
" or c'htr t~ans m~de partialty or wholly upon the Coltater3l, may from time to time Ca malt without at:ectin~ the provisians of this rto:a or tha
Ii.~blliEiq ot any party hereto. ~ank shall exerc~x reuonabls wro In the custody and preszrvation of ihe Co1lat~ral, and sha11 be deamed to h~ve
exeru;ed reasonaD~e care if it takes s~cn aceion foc that purpose as A1~kar snatl rrasona~fy request in ~rriting, Dut no omission to cornply with any
r~qu-st of `.4aicrr.shall ot itself be deemtd a faiture to ezerc~se reaSonabla tare. H~n< shall rtut b- bound to t.:ke any s:ep~ r.ecessary to pres=n~ '
an~ t~yh!a fn ti?e Collatsral a~aintt prior paraies. anJ Ata;cer ahall ta:ce atl necessar~ strps ior su~n purpoxs. Bnnk or its nominee need not cotltct
inte~ess on ar principal ot a~y Colla:erat or fl~Ye any notica with respect to it. - _
If the Collateral ch21( at any tima becon~ ur.si:~sfactory to Dank, ar It the Bank shah at any time ~tzm Itae{f Insecurt, hluer ahall withi~ oae
day at:a~ d^rr•and deposit with E3ank as part of the Collatera~ additional propsrty which is catistactor~ to Hank. R
Vp~n the h~ppeninp o~ any ot the folSOwinQ events, each of which ahall constituta a detauit hsreunder, -all liabiities o( each idaker to 63n~i sfiall
thsreup~n or :ti:resicer, at th: oYuon of Bank, witrtout notice or demand, b=::ome dua and payabl3: (a) fai:ure ot any Ohti~or to perform any
apreement hereund±r or to ~ay in tull. wncn due, any liability whatsoerer to Bank or any instatment thzrtof or interest thtreon, or failure t4
pay when due any premium on any life insurance policy hald as collateral hereunder; (b) the death o! a~y Obliflor; (c) the filinp of•any pstition
undzr the 83nkruptcy Act, or any sim~lar federal er state statu:e, Dy or agairtst any ODtipor; (d) an appi~cation for the appo~ntme.~t of a rec~iver
for. the m~king ot a qeneret assigr.ment tor the b~nefi: of creditors by.-or tna insotvency ut an~ Ob~iyor; (e) the entry of a Judpmeni againse any _ _
Obiig~r; (t) ths is3u~ny of any aitachme~ts or garnishm^_nt. or the filing of any fien, against any property of any Obtigor; (Q) the t3ki:sg of posstssion
ot any subswneial part of tli~ property of any.Obligor at th~ instance ~f any gcverne;ental auihority• (h) th~ dissolution, merger~ eonsolidaeiw~, or -
reorganizatiort cf any Obliga•; (i) Lhe d!term~nation by an officer O~ B3Ak that a mat.riat advcrs~ ehan5e has occucred in th~ tinancial conditian of _
any Ubi~~or from the cona~tions set torth in the most recent tinancial atatement ot su:h Obligor heretolore turni:hed to 9~nk, or from tha conaitian
~ ot such 051igor as herctoiore most recentty disclosed to Bank in any marntr; or ihai any warranty, representation, ctrtiticate, or statement ot any
obligo: (+v:~at'~ar coniained in thi; note o: not) e_ric~ining to or in connact:~n wit~ Lhis r.;tp er ihe ioan evidenced Dy this not3 is noj !ru+; (j) tha
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assi~rtment by any TAaktrr cf any sq~ity in a~y of tha Cotl~,eral titi~t?~out tne wrir.an consent a! i3an1.
par,:c ai:a~1 l:ave, 6ut ahal: rat ba lirni!^_d to, thp following rights, cach ot which may be txercised at any tima whether or not thi9 nott is d~e:
(i) to p~zd~e or iransfer this note and tiia Catl.~i'ral, wnveupon Bank shatl be rdieved of aIl duties and responsibilities hartunder and relteved f:om
' any and a.~ Iiability with respect to any Coll~terol so pledged or transterr~~, and any pfedgee or uansierce shall for etl purposes,atand In ths place t•
~ of oank hereund!r and have ali the n~tits of Bank hcreunder; (ii) to trans(er the whoie or any part of t_he Collateral Into tho narr~ ot itsclf ~r its M
r.om~nee; (iu) to vote the Coltateral; t:v} to notity the obli;,ors on any Coltat<ral to make payment to Bank of any amount`s Que~ br to ~seem: due
thereon; (v) to demand, sue {or, collaci, or make any compromise or settlement it de_ms Gesir.~ble with roference to tfia Goitateralf and (vi~ to uke:
possession or co~trot ot any procetds ot Collateral. , _ ~ -
' Bank is hereby given a litn upon and a security interest in a(1 property of each Oblip~r now or at any time hereafter in the posusslon..Of Bank
in any c~paci:y whacsoever, Includin~ hut noi limited to ar.y batance or srara ot any ~tposit, trust, or agency attvunt, as seeurity for ths Aayrr.rnt
of th~s not:, and a simit~r Iien uphn and s°curity inttre.st in all such propercy ot each titaker as security for tha payrr~ent ot alt oth:r.,liabilities of
cach :ti:~ker i~ Etank, and Bank shatl have the sama riphb as to such property as i: ha3 with n_spec: to the Coltater~l. ' •
If Oank deams Itseif tnsecure or upon tha xcurrence of any detau(t herounder Bank shall have all the remed~es ot a seturcd party u~der the
Unitorm Comme~eial Cod' tor the State of Ftorida and, withcut limiting the genarality of ihe fore~oin~, Bank shatl have the right, at its op:ion,
and rvithout n~tica or dem~nd, to Ceciarc the entire amount of this nota remaining unpaid, and all other liabilities of a~iy o5ligor or any qf such
tiabltl:ies :eltt:ed by Bank, imrrtadiately due and pay~ble, less any unaarned in:e:esi o: other charges and any rerates requirtd 6y 111Y (it G~in~
the Int:nt~on h~reot that under no circumstances shall Bank or any holder hereof 4z entiil:d to receive at any tirr.e any charge3 not al{awtd or
permi!ted by law or any interest in exzess of •l:_ maxim~~m altoNed by Iaw); to sst off agai~st this note atl money owzd 6y Bank in any eapac+ty
to eatt~ or any Utligor~ ~rhothe: or not due, znd atso to set oft apainst all other liabitities of each Maker to Ban~c a!1 money owed by Bank in a~y
eapac±~y io each" or aay Maker: an3 San< shalt ba deemed to have exercis~d s~~h ri9hc of ;et otf and to have made a ehange against any su:h maney
imm_3~ate=y IJF.'v_i ihe crurrer.cs af ss_!: def~~llt G!/!!! thevQh sach ehar3; ts made o~ entered on the bo~ks of Bank subseGUent thereto. Vnless tha
Co=lateral is ~er~sha6le or threatens to de=!in~ spetdily in value or is of a typs cu;tomar;t~ sold on a c~cofl~lztd ma~ket, Bank ~vill q?ve R1akc~ reaso~-
abie notice of tfie tima•and ptace of any public or private sal~ thereoL 7n. reqairement of roasonabfe notlce shall be a:et if suen r.ottce is ma~1°-d,
pos!a~= p-epnid, to any Maker at the address given tetow or a: any ether address sho+vn on tne records af the Bank, at least ten ~ays before the time
ot th~ sale. Upon dispo~ition ot any Cotlateral atter the oecurrence of any default hzreundtr, Maker sAal! be and rtmain liable t~r any deticitncy;
and F3~•^.}t ahall a~count to l~faker tar any earplus, bu! Bank shatl have the tieht_to appty all cr any part of sach a~rpfus (er to hold the tam~ as a
rex:rve) x~ainst any and all othtr 1'iahitities of eactt or any f~ak~~ to Bank. . _ -
- No da:ay or emission en the pari of Bank ln exercising any rtght Fereun~er s!sali oF'~ate a3 a waivtr of such rish; or oi any otner ri~ht ~~der
t:~~s notc. Pr~s-ntm_nt, d~mand, protesi and ootice of d"+shanor, are hereby WdNLd by each and ewry Obligur. The Obligors, Join:ly and seve.-a1ly,
pr-,tnise a~~d Acree to pay a11 costs ot eoliectien and raason~btt attorney's fees incurrtd or pal~ by B:?nk Cnfor~ir.~ this note ugon th° occurre~~e of.
any d=fa~lt. Any n~tice to Alakar sha(I b~ sut(icfentfy s°rved for alt purppses If pta~ed In tha mait, postac~e prepaid, addre;s~d to, or Iel; upan tht
pr~rsis~s 1'. ai~_ nvc~i',>a e~~3.: i~:::.. ^~f=ar +~~r~_g eLt.~yln nn R~~L'a r~r~fyfe, .
EaC~+ Ohiigar h?~^ty exorcssty constnLs to any and ~li extensions and rene~v3l;,.ln who!~ or !n part, and all ~e'ays In tim= ot paym?nt or ~iher
Frrfarm3nce which the hotd?r h?reof may 9rant or permit at any tima and t;om tim° to time without_limita!icn and~vnthcu: an~ notice tv or turcne:
eonse::t of any Obligor.
" FLflKIDA M.~ID GI?'RUS CORPOR.ATIO~i
~ . s~oK~40 PAGE~.623 % - ~~~1'
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Aoo~~s:,: 1147~ Tux~~~B~~~.h___R~___ Y' ---s ' - _~sea,~z
~Torth P~l~n Beach, Florida Donald K. 'Dio~, Sr., president
3340~3 _ csE,aL~
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