HomeMy WebLinkAbout0926 ~ a result.of ~ default hereunder, it is agreed that pub~ic or
private sales, for cash or on credit, to a user of property of
the types subject to this security agreement, or public auction, _
are all commercially reasonab~e since differences in the sales,
prices generally realized in the different kinds of sales are
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ordinarily offset by the differences in the costs and credit {
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risks of such sales. Unless the collateral threatens to decline ~
speedily in value or is of a type customarily sold on a recognized
market, SECURED PARTY shall give DEBTOR notice of the time and ~
i place of any public sale of the collateral or of the time after
which a private sale or oth~r intended disposition is to be made~,'
by mailing such notice, postage prepaid, to the DEBTOR at the
last known address appearing on the records nf SECURED PARTY at.
least 15 days before the sale or disposition, ~
12. DEBTOR appofnts SECURED PARTY their attorney in fact
to prepare, sign, and file or record any Einancing atatements, •
applications for~registration, and similar papers and to take
any other action reasonably deemed necessary by Counsel for
SECURED PARTY in order to perfect SECURED PARTY'S SECUKITY
interest granted hereunder, and to perform any obliqation of ~
DEBTOR, at DEBTOR's expense, but without obliga?tion to do so.
. 13. This agreement contafns the entire understanding of
~ both parties. There is no other representation, warranty, j
promise, covenant or undertaking, oral or otherwise, other than '
those expressly set forth herein.
14. The terms and conditions of this agreement shall be
governed by the laws of the State of Florida and venue'for the
enforcement and/or'interpretation thereof and/or termination
thereof shall be in St. Luci~ County, Florida. .
15. Any proviaions of this agreement which may be pro-
hibited by law shall be ineffective to the extent of auch ~
prohibition without invalidating any of ths remaining pro-
visions hereof.. .
16. If SECURED PARTY either transfer~ their intereat.in
the Second Purchase Money Mortgage of even date herewith entered
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BOOK 5~V PAGE 9~V
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