HomeMy WebLinkAbout0943 SECURITY AGREEMENT
THIS~SECURITY AGREEMENT made and entered into this
day of September, 1982, by and between JAMES SHUFORD and ARLENE
SHUFORD, his wife, 80WEN BROTHERS, INC., a Florida corporation,
and DAVID S. ALBERTSON, hereinafter collectively called SECURED .
PARTY, and PAUL H. FREEMAN, aa Trustee, hereinafter referred to
as DEBTOR. •
On the terms and condixions stated in this agreement, t
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DEBTOR hereby grants to SECURED PARTY a security interest in ;
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a12 crops of every nature, name and description that DEBTOR '
shall sow, grow, plant, cultivate or harvest during the y~ar `
1982 and the Fifteen (15) succeeding years thereafter, as well ~
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as the proceeds thereof, incl.uding, but not by way of exclusion ~
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or limitation any crops of citrus fruit on the real estate in a
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the County of St. Lucie, State of Florida, more particularly ~
described on Schedule "A" attached hereto and made a part hereof ~
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by reference, which real estate is owned of record by DEBTOR. ~
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In consideration of the sum of TEN DOLLARS ($10.00) and ~
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the other mutual covenants and conditions herein contained, the ~
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parties hereto agree as Eollows:
. 1. The DEBTOR is PAUL H. FREEMAN, As Trustee, whose
- mailing address is c/o~Mora & Freeman,205Q Coray Way, Miami,
FL 33145. ?
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2. The obligations of DEBTOR secured by this Agreement are ~
as follows:
A. Payment in full of those two certain promissory
notes given by DEBTOR to SECURED PARTY described as foZlows:
(1) That certain promissory note dated Septem-
ber _~-t~ 1982, given by Paul H. Freeman, As
Trustee, to James Shuford and Arlene Shuford,
his wife, as to an undivided 60$ interest;
' Bawen Brothers, Inc., a Florida corporation,
as to an undivided 20$ interest; and, David
S. Albertson, as to an undivided 20$ interest;
the same having an oriqinal principal bal-
ance o~ $3Q0,400.00; and
I~ 2) That ertain promissory note dated September
i ~ z, 1982, given by Paul H, Freeman, As
~ , Trustee, to James Shuford and Arlene Shuford,
~ ' his wife, as to an undivided 608 interest;
eowen Brothers, Inc., a Florida corporation,
' as to an undivided 20$ interest; and David
S. Albertson, as to an undivided 20$ interest,
, the same having an original principal balance
of $1,430,150.00.
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EXHIBIT "C" ' g~~K~78 PACE t7~~
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