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Ti~:s i:r~s~-llefauit Agreem~nt :s made ~ , 198ES, by :~r,d
1~cw~~en C~.~tENCE F. E{AI.L and LINDA HALL, h~s wife, erein referred to as
~~r~_g~gor, anci f3A~t,~1LCi E3ANK OE' ST. LUCIE COUt~TY, here_n referred ~_o as
~r ~=9a9~'? .
ItEC I TAIS
A. ;rlorcgay~ has laaned to Mortgayor rhe sum of 'iEi'r2EE HUNDRED THWSAl~D
~~ll ~/l0U DOLI.ARS ($300,000.00), which '_s represented by a~r~a'_n Note of
ev`n ciare nertw~th (,the 'Note,' wh~ch term includes any modif;carion, renewal,
extens~on or alterat?o~ rhereof), the payment of which has c~een secured by ~he
foilow~rn3 secur;cy :nstrurnents of l:ke date herew_th:
(1) '~rtgaye and Securicy Agreemen~;
( 2) 5ecur : cy Ayreemenr (~u: ~;;ent, Consumer Goods, x•_ ur~s
(3) Secur~ty Agreement (Inventory, Accounr.s Rece~vable, General
~ r~ ~ ~a^ r); and
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(4) Coi~areral A:~s~gn.mei~r of Rer,ts and Leases.
.:;F' fUCc'~O_R~3 :ii:~•-CUiTl~tlr5 dC~ t1ZL~~r; referred f=0 dS '_~'lE.' ~dfl ' Cl2lfle^'_S~ '~r1~C~
~~rm ;ncluc:es any rxx~:f_car~on, renewal, exr_Qns:on or a:terat_on rhereof.
d. :'rie f~arT.:e~ .~:7n ~_o ~~rov:cie ~:ha~. a default under ~_t;e t7o•:e or a-,y oF
~ he :~n Doc~,~e:~~_s ~hali cro..st:r~te a defaul': under ~r,e t~k~re and all of ~he
:~an :k~c::m~~r i~ s .
u.tUz(::~ 'li~ (,Y~ISTJ~~~:'iOP~ ~J~' '~C'iE' TU'-Ua: .17a~'C`_dR~^,~S S?': fOLrf1 _:t 'CIE.' iI0`_t?
ar:d ~_i:e i,c~an :)bCi1J?lE:fi`"S~ the ~r~:es agr~e as fol,ows:
if any ~~ven•_ o: ~~cc-urce ~ce o: any o~:;er ~:e~aulr ~hall occ~r wh:ci;
~~o~ld er,t:tie ,~rtgagee ta accelerate rhe pa~~r~enr of rhe pr~n~ pal sum and
:n•_erca~_ sec:ured * herec,f ~nrer ~r,e ;7ote o: any of ~_ne Loan Documenrs, any sucr:
?ven~ o: occurrence or any orher ciefaulr Sti13ii cons~~ru~Q an even~ of deFau.r
~n~er ~-:~e ?3o•_e snd ever}~ o~ t~er i,can Docum~r.t .
"l. :act, of ~he i~oan ~oc:.nnents shall o-~- and rema:~n separa~-P and
~ ~::d•~,~;;de:.t y~ur:ty for •.he t.o~e, ~nd eac'r, of ~-ne i.oan Docurnents ~7a11 :;F
~ :~ec~ara~_e;y enforceabie accor~~~ng to ~rs terms. '"he holder of any L~an
? ~ ~ ~ t_ ~ ~
~cy~•;;~._n _:nay :n:~.-=,-u,e se~~ra~e procet~~ngs ~r_ n respec. o~he Note a.,d ach
~ ;~an ~ocu~nen•_ s:multar~eously or ~n such order and a* such t:.mes as ~he ho?der
; m:,af e=c~~ . ~rie (~;1c1e~~c:y of a.*~y proceed~~lg •+~r !-h respecr ro trle CICtE O! aRy
~ :~ar. Documer,~_ shall not be grounds for ~7d~efTle?lr of or for h:ncier~ng, delay_~g
° or f~revNn•_ ~ng a:~y proceed_ng~ ~.h respec* ~o rhe t~ore or any o~her Loa..
; . .
E ~oc,u~~e;ir . Defaul~ under r~e Ck~~e and euch Inan ~ocumenr shall g=ve r~se ro a
~ .~~-~~ra•_e c~use of ac•_~on, and +~he :nsr:.tut:cn of p~oceed:ngs upon less ~hari
~ ~=i o~ •_~-,e i.~~a:~ Documen~_s shall no~ he consrr~ed a~ a spl~tt~ng of a cause of
~ :ii~•.:,~n ~y ~_i;e n~~i..+E~: _:~:,~:~u'::ng s~ch F~roczed;ngs.
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g `,,;:"';~.'~S 'r~:~~~~:~~P, ~:e ~r`_es :;avF~ executed ~~~s Cross-Defaul~
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