HomeMy WebLinkAbout0924 B. All expenses, including attorneys' fees and legal
expenses incurred or paid by SECURED PARTY in the preservation
or enforcement of its rights or obliqations of DE~TOR hereundex,
including such expensea incurred by SECURED PARTY in perEorming
on b,ehalf of DEHTOR any obligations of DEBTOR.
3. DEBTOR shall have the right to aell and transfer title
to the collateral or any part thereof, provided, however, DEBTOR
shall first adhere to the requiremen~s set forth in that certain
RIGHT OF FIRST BEFUSAL entered into between BOWEN BROTHERS, INC.,
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a Florida corporation and PAUL H. FREEMAN,~as Trustee, dated ~
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September 1982, a true copy of which is attached hereto as •
Schedule "H" and made a part hereof by referencef and, secondly,
provided further,. DEBTOR shall adhere to the requireme~ts set ~
forth in that certain ESCROW AGREEMENT between SECURED PARTY,
DEBTOR, and MORA & FREEMAN,ATTORNEYS AT LAW, dated September~~[,
1982, a true copy of which is attached hereto as Schedule "C" a»d~~ ~
made a part hereof by reference, pertaining to proceeds obtained
from the sale of the collateral. SECURED PARTY agrees to provide
DEBTOR with releases from the lien created~on the collateral here-
under when appropriate and when requested by DEBTOR. Any auch
• release shall be promptly executed by SECURED PARTY and returned
~ to DEBTOR.
4. No financing atatement covering any of the collateral
or proceeds thereof is on file in any public office.
5. S~CURED PARTY shall have the right at all rea$onable
times to examine and inspect the collateral. •
6. DEBTOR agrees to pay when due all taxes, and other
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. charges in connect3on with the collateral. Any advances made by
SECURED PARTY for any such pruposes shall bear interest at th~s
highest rate allowable under Florida law and shall be due on
demand.
7. DEBTOR will be in default upon the happeninq of any of
the following events or condit~ons, ~hereinafter called an
"event of default"~)~s ~
A. Failure to make punctual payment when dua of~any
of the obligations or failure to perform any of the aqreements
2- 800K 5~0 PAGE 918
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