APPLICATION
CITY OF BOYNTON BEACH
BOARD OF ADJUSTMENT APPLICATION
CASe -H ( 1 (
submittal Deadline: See scehdule of dates for Board meetings and submittal
dates
Please print (in ink) or type
Submittal date:
The undersigned owner(s) hereby respectfully petition(s) the Board of
Adjustment to grant to petitioner(s) a special exception or variance to the
existing zoning or sign Code of said City pertaining to the property
hereinafter described and in support thereof state(s):
Property involved is described as follows: Lot (s) foo T b I
Block , Subdivision A.e.oEl'-l PA1L-lL-
z
, Page
6l.o
or otherwise ftescribed as follows:
Plat Book
Property Address
Cs> Z'3 N. eA II-- goA--D A JG"'
The following documents are required to be submitted with this application to
form a single package. Incomplete package will not be accepted:
1.
Two sealed surveys by a registered surveyor in the state of Florida, not
over six (6) months old, indicating:
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A. All property lines
B. North arrow
C. Existing structures and paving
D. Existing elevations
E. Rights-of-way, with elevations
F. Easements on or adjacent to the site
G. utilities on or adjacent to the site
H. Legal description
I. Number of acres to the nearest one-hundredth (1/100) of an acre
J. Location sketch of property
K. Surveyor's Certificate
/2.
Two site plans properly dimensioned and to scale showing:
A. All proposed structures
B. All existing structures that are to remain on site
C. Setback lines for all structures drawn perpendicular from the
properly lines to the closest vertical wall of structures
D. Use of each structure (or uses within multiple occupancies)
E. Use of adjacent properties including right-of-way lines for all
streets and alleys, sidewalks, turn lanes and driveways
F. Elevations of the lowest finished floor of all structures on the
site
3. Certified list of names and post office addresses of property owners and
legal descriptions of their property within 400 feet of subject
property, as recorded in the County Courthouse. Such list shall be
accompanied by an Affidavit (see attached) stating that to the best of
the applicant's knowledge, said list is complete and accurate.
4. Proof of ownership of property by petitioner (s), such as deed or
purchase contract agreement. If an aaent is submittina the petition. a
notarized COpy of a letter desianatina him as such must accompany the
petition.
5. Statement of special conditions, hardships or reasons justifying the
requested exception or variance. Respond to the six (6) questions below
(A-F) on a separate sheet (Please print or tvpe):
A. That special conditions and circumstances exist which are peculiar
to the land, structure or building involved and which are not
applicable to other lands, structures or buildings in the same
zoning district;
Page 1 of 3
B. That the special conditions and circumstances do not result from
the actions of the applicant;
C. 'l'hat granting the variance requested will not confer on the
applicant any special privilege that is denied by this Ordinance to
other lands, buildings or structures in the same zoning district;
D. That literal interpretation of the provisions of this chapter would
deprive the applicant of rights commonly enjoyed by other
properties in the same zoning district under the terms of the
ordinance and would work unnecessary and undue hardship on the
applicant;
E. That the variance granted is the minimum variance that will make
possible the reasonable use of the land, building or structure;
F. That the granting of the variance will be in harmony with the
general intent and purpose of this chapter and that such variance
will not be injurious to the area involved or otherwise detrimental
to the public welfare.
6. Application fee in the amount of $400.00, payable to the city of Boynton
Beach, must accompany this petition.
7.
8.
1.
Property is presently zoned:
11-1
08- 'I~ -t'I5-J.,/ - /8- Ootj.- 0601
Formerly zoned:
2 .
Property Control Number:
3.
Denial was made upon existing zoning
sections[s] of Code from which relief is
(JPPi./lJOI'l.. A - 2L>tJ:NG St..:TJOr-j /I 1/. lb.
or sign requirements
required) :
d. (4')
(list
4. Nature of exception or variance required: J7.!~ .AvID 8DlJy/?€PAJR lSiJSIN6(f.
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PkoPDS,f-D h,R. IHf- t;XI!>rilVC:, /S()IUJItV& R64UIR.6. ,4 TDr4L. Dr IB fARI6r1(;' f;.flh:;Gs
IM3J2e fl.. A Il:>T4L {}r /1 fARK./1IJ6 Sf4ct~ e.~/.s7/I'I/(, Ar T)J~' ~;Tf..
Date: 4.4 Permit denied: >>IA-
Building Department
5.
Case Number:
/9/
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Meeting Date: 'V! 'V. __ ./-
'466 ;J..cI.3
C E R T I F I CAT ION
TO THE BEST OF MY KNOWLEDGE AND BELIEF, THE ATTACHED LIST IS A TRUE AND
CORRECT LIST OF PROPERTY OWNERS WITHIN FOUR HUNDRED (400) FEET OF THE
APPLICANT'S PROPERTY.
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APPLICANT/AGENT
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Page 3 of 3
APR-21-1992 02:30pm 92-119748
OR8 121u Ps 1620
Con 157,500.00
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Return to: (Will Call Box No.
This instrument prepared by:
Kenneth A. Treadwell, Esquire
Lewis, Vegosen and Rosenbach,
P.O. Box 4388
West Palm Beach, Florida 33402
,
87::/
P.A.
Property Control No: 08-43-45-21-18-000-0601
PRIME BANK
MORTGAGE DEED
THIS MORTGAGE, made this 17 day of April, 1992, by GEORGE T.
CULVERHOUSE and GLORIA M. CULVERHOUSE, his wife, with an address at 821 S. W.
36th Avenue, Boynton Beach, Florida 33435, hereinafter called Mortgagor, which
term as used in every instance shall include Mortgagor's heirs, executors,
successors, legal representatives, and assigns, including all subsequent
grantees, either voluntarily by act of the parties, or involuntarily by operation
of law and shall denote the singular and/or plural, and the masculine and/or
feminine and the natural and/or artificial persons, whenever and wherever the
context so requires or admits, and PRIME BANK, a Florida banking corporation,
\~ith an address at 3717 Boynton Beach Boulevard, Boynton Beach, Florida 33425-
0460, hereinafter called Mortgagee, \~hich term as used in every instance shall
include }!ortgagee's successors, legal representatives, and assigns.
WIT N E SSE T H:
That for divers good and valuable considerations, and also in
consideration of the aggregate sum of money named in the Note hereinafter
described, Mortgagor does grant, bargain, sell, alien, remise, release, convey,
and confirm unto Mortgagee, in fee simple, the following described real estate
(herein called "the Property"), of which Mortgagor is now seized and possessed,
and in actual possession, situate in the County of Palm Beach, State of Florida,
to-\~it :
All of Lot 61 and 60, less the South 15.5 feet of said Lot 60, ARDEN
PARK, according to the Plat thereof, recorded in Plat Book 2, Page
96 of the public records of Palm Beach County, Florida.
TOGETHER with all structures and improvements now and hereafter on
said land and the appurtenances thereto as well as all fixtures attached thereto
and all rents, issues, proceeds, and profits accruing and to accrue from the
Property, and also all gas, steam, electric, water and other heating, cooking,
refrigerating, lighting, plumbing, ventilating, irrigating, and power systems,
machines, appliances, fixtures and appurtenances, which now or may hereafter
pertain to or be used with, in or on the Property even though they may be
detached or detachable.
TO HAVE AND TO HOLD the same, together with the tenements,
hereditaments and appurtenances, unto Mortgagee, in fee simple.
AND Mortgagor does hereby covenant with Mortgagee that Mortgagor is
indefeasibly seized of the Property in fee simple, that Mortgagor has full power
and lawful right to convey the Property in fee simple as aforesaid; that it shall
be lawful for. Hortgagee at all times peaceably and qtlietly to enter upon, hold,
occupy and enjoy the Property; that the Property is free from all encumbrances;
that Mortgagor \..ill make such further assurances to protect the fee simple title
to the Property in Hortgagee aG may reasonably be r:equired; and Mortgagor does
hereby fully warrant the title to the Property and will defend the same against
the lawful claims of all persons whomsoever.
PROVIDED, ALvlAYS, that if that certain promissory note in the
principal amount of ONE HUNDRED FIFTY SEVEN nrouSl\NP FJ:VE HUNDRED AND NO/lOa
DOLLARS ($157,500.00), a copy of which is attached as Exhibit "A" hereto and
made a part hereof (herein called "the Note"), and all extensions, renewals,
modifications, amendments and consolidations thereof shall be paid according to
its terms and if Mortgagor shall promptly perform, comply with, and abide by each
and every the stipulations, agreements, conditions, and covenants of this
1
LE"..IS, VEGCSEN AND ROSP-NEACE, P.A.
500 SOUT,l J\US1'RALI1\!; AVENUE, P,O. POX 4388, \!EST PAl,Jo! BEACH, FI,ORIDA 33402-438!l
ORB 7:710 P'3 1621
Mortgage and all other documents executed in conjunction with the Note and this
Mortgage, then the estate hereby created shall cease and be null and void.
AND Mortgagor does hereby covenant and agree:
1. Payment of Obliqations. That all of the principal and interest and
other sums of money payable by virtue of the Note and this Mortgage, or either
will be paid, promptly on the days respectively, the same severally come due.
2. Taxes and utilities. To pay all and singular the taxes; assessments;
levies; liabilities; water, sewer and other utility charges; obligations and
encumbrances of every nature on or applicable to the Property (collectively
called "the Impositions") when due and payable according to law or contract,
before they become delinquent, and if the same shall not be promptly paid
}lortgagee may (but assumes no obligation to do so) at any time either before or
after delinquency pay the same without waiving or affecting the option to
foreclose or any right hereunder, and every payment so made shall bear interest
from the date thereof at the maximum rate allowed by law or twenty-five percent
(25%) per annum, whichever is less, and shall be secured by the lien of this
Mortgage. In the event Mortgagor in good faith contests the amount of the
Impositions, Mortgagee shall waive the requirement of timely payment if, but only
if, Mortgagor has bonded the full amount due and owing (including interest and
penalties) in form and substance satisfactory to Mortgagee.
3.
Insurance.
a. Mortgagor will, during all the time until the indebtedness
secured by this Mortgage shall be fully paid and satisfied and this Mortgage
remains in effect, at its expense, maintain with insurers approved by Mortgagee:
(i) insurance with respect to the improvements being constructed and/or located
on the Property against loss or damage by fire, lightning, windstorm, hail,
explosion, riot, riot attending a strike, civil commotion, aircraft, vehicles,
smoke and other risks from time to time included under "extended coverage"
policies, and against loss or damage by malicious mischief and sprinkler leakage,
and agains.t war risk as, when and to the extent such insurance is obtainable from
the United states of America or an agency thereof (All insurance in this
Paragraph 4 (a) (i) is to be in amounts equal to 100% of the full insurable value
of the improvements with at least ninety percent (90%) co-insurance, which
insurance shall be written on a replacement cost basis and any such policy shall
contain the "agreed amount endorsement" issued annually. Mortgagee may require
Mortgagor to furnish not more often than once every three (3) years insurance
surveys at Mortgagor's cost conducted by parties approved by Mortgagee in order
to determine appropriate policy limits and coverage); (ii) explosion insurance
in respect to any steam pressure boilers or similar apparatus, in amounts
approved by Hortgagee; (iii) flood insurance, if available, and insurance
against such o.ther hazards and in such amounts as is customarily carried by
owners and operators of similar properties, or by owners of property in the same
general geographical area, or as Mortgagee may require for its protection; (iv)
public liability and property damage insurance in amounts approved from time to
time by Mortgagee (which amounts at the date hereof shall be, in case of public
liability $500,000.00 per person and $1,000,000.00 per each occurrence and, in
the case of property damage, $100,000.00); (v) appropriate workers' compensation
or other insurance against liability arising from claims of workers or other
persons performing any work or services in or upon the mortgaged premises.
b. All insurance maintained by Mortgagor shall: (i) except for
workers' compensation insurance, contain the standard New York form mortgagee's
endorsement in favor of Mortgagee; (ii) provide that all insurance proceeds for
losses of less than $5,000.00 shall be adjusted by Mortgagor and all insurance
proceeds for losses of such amount or more, except for workers' compensation,
shall be adjusted by Mortgagor and l{ortgagee jointly; (iii) provide that except
in the case of public liability and workmen's compensation insurance (or
liability insurance obtained in lieu of workmen's compensation insurance)
insurance proceeds shall be payable to Mortgagee; (iv) provide that any losses
shall be payable notwithstanding any act or failure to act or negligence of
Mortgagee or Mortgagor or any other person; (v) provide that no cancellation,
reduction in amount or material change in coverage thereof shall be effective
until at least thirty (30) days after receipt by Mortgagee and Mortgagor of
written no"tice thereof; (vi) contain only such deductibles, if any, as Mortgagee
may approve in writing; and (vii) be reasonably satisfactory to Mortgagee in all
other respects. Mortgagor does hereby assign and will deliver the policy or
policies of such insurance to Mortgagee, so and in such manner and form that
Mortgagee shall at all times, until the full payment of the Note and satisfaction
of this Hortgage have and hold said policy or policies as a collateral and
further security for Mortgagor's obligations under the Note and hereunder.
c. Not later than thirty (30) days prior to the expiration date
of each policy furnished pursuant to this paragraph 4, Mortgagor will deliver to
Mortgagee a renewal policy or policies marked "Premium Paid" or accompanied by
other evidence of payment satisfactory to Mortgagee.
d. In default of so insuring or delivering Buch prepaid policies,
Mortgagee may itself, but shall not be obligated to, obtain such insurance from
year to year, in amounts and by companies selected by Mortgagee, and pay the
2
LEWIS, VEGOSEN A..'lD ROSENBACH, P.A.
500 SOUTH A'}STP;\LIAH AVPmE, P.O. BOX ~)88. ',.""ST PJI..lJol BEACH, FLORIDA 33402-4388
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ORB
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premium or premiums due thereon and such premiums shall bear interest at the
maximum rate allowed by law or twenty-five percent (25%) per annum, whichever is
less.
e. In the event of a foreclosure of this Mortgage, the purchaser
of the mortgaged property shall succeed to all the rights of Mortgagor, including
any rights .to unearned premiums, in and to all policies of insurance assigned or
delivered to Mortgagee pursuant to the provisions of this paragraph.
f. All insurance proceeds payable under the aforementioned
policies for damage to the Property which are paid to Mortgagee as aforesaid
shall be applied at Mortgagee's option to restoration of the Property; or to
reduction of the principal amount of the loan secured hereby and/or to cure any
then existing monetary defaults under the Note, this Mortgage or other documents
executed in connection with the loan secured hereby.
4. Waste. '1'0 permit, commit or suffer no waste, impairment or
deterioration of the Property, or any part thereof, and upon the failure of the
Mortgagor to keep the buildings on the Property in good condition or repair,
Mortgagee may demand the immediate repair of said buildings, or an increase in
the amount of security, or the inunediate repayment of the debt hereby secured and
the failure of Mortgagor to comply with said demand of Mortgagee for a period of
thirty (30) days, shall constitute a breach of this Mortgage, and, at the option
of Mortgagee, immediately mature the entire amount of principal and interest
hereby secured, and immediately and without notice, Mortgagee may institute
proceedings to foreclose this Mortgage and apply for the appointment of a
receiver, as hereinafter provided.
5. ~ompliance with Documents. That each and every stipulation,
agreement, condition and covenant in the Note, this Mortgage and every other
document or instrument executed in connection herewith will be performed,
complied with and abided by.
6.
to furnish
designated
offsets or
Estoppel. Within ten (10) days upon request in person or by mail,
a written statement duly acknowledged to Mortgagee or to any party
by Hortgagee of the amount due on this Mortgage and whether any
defenses exist against the indebtedness secured hereby.
7. Taxes and Assessments. To deliver to Mortgagee on or before March
15th of each year, tax receipts evidencing the payment of all lawfully imposed
taxes for the preceding calendar year, and to deliver to Mortgagee receipts
evidencing the payment of all liens for public improvements within ninety (90)
days after the same shall become due and payable, and to payor discharge within
ninety (90) days after due date, any and all governmental levies that may be made
on the Property, on this Mortgage or Note, or in any other way resulting from the
Mortgage indebtedness secured by this Mortgage; and if this condition be not
complied with and performed, Mortgagee may, but shall have no obligation to do
so, pay such sum or sums and the full amount thereof shall be immediately due and
payable, shall bear interest from the date thereof until paid at the maximum rate
allowed by law or twenty-five percent (25%) per annum, whichever is less, and,
together with such interest, shall be secured by the lien of this Mortgage.
8. Receiver. In the event of a suit being instituted to foreclose this
Mortgage, Mortgagee shall be entitled to apply at any time pending such
foreclosure suit to the court having jurisdiction thereof for the appointment of
a receiver of all and singular the Property, and of all the rents, incomes,
profits, issues and revenues thereof, from whatsoever source derived; and
thereupon it is hereby expressly covenanted and agreed that the court shall
forthwith appoint a receiver of the Property, all and singular, and of such
rents, incomes, profits, issues and revenue thereof, from whatsoever source
derived, with the usual powers and duties of receivers in like cases; and such
appointment shall be made by such court as a matter of strict right to Mortgagee,
and without reference to the adequacy or inadequacy of the value of the Property
hereby mortga.ged, or to the solvency or insolvency of the Mortgagor, and that
rent, profits, income, issues and revenues shall be applied by such receiver to
the payment of the Mortgage indebtedness, costs and charges, according to the
order of such court. It is hereby expressly covenanted and agreed that the
appointment of a receiver in accordance with this paragraph shall be without bond
or other security.
9. l'r~nsfer of Property. Upon the voluntary or involuntary sale,
conveyance or other transfer of all or any portion of the legal or beneficial
interest in or ownership of the Property without Mortgagee's prior consent, the
Note secured hereby shall become Lmmediately due and payable. For purposes of
this provision, a transfer of the stock of a corporate Mortgagor, a transfer of
a partnership interest of a Mortgagor who is a partnership, and a transfer of a
benef icial interest under a trust where a Trustee is a Mortgagor, shall
cc;:mfri;tt'Jte .1 tnH1Bfer for th@ puqJOg@fi of and within the m@.aning of thi.s
provision. In the event Mortgagee shall approve any such transfer (although
Hortgagee has no obligation to do so), the transferee shall enter into an
assumption agreement in form and content satisfactory to Mortgagee and the
interest rate of the Note may be changed by Mortgagee to be consistent with the
interest rate then being offered by Mortgagee on comparable loans.
3
LEWIS, VEC-CSEN A.."L> ROSENB..>.CE, P.A.
500 SOUTH AUSTP~LIAN AVENL~, P.O. BOX 4388, w~ST P.~1 BEACH, FLORIDA 33402-4388
"'~"~:"'~
VI\8 7 -;.' '10 Fs 16 ..~3
10. Eminent Domain. In the event of any taking by eminent domain,
alteration of the grade of any street or other injury to or decrease in value of
the Property by any public or quasi-public authority or corporation, any
resulting award or payment shall be paid to Hortgagee and applied, to alter,
restore or rebuild the Property or to reduce the principal amount of the Note (in
which case application of the funds shall be made against the last maturing
installments of the Note), as Mortgagee shall, in its sole discretion, determine.
Mortgagee shall have the right to participate in any condemnation proceedings and
negotiations and 210rtgagor will deliver to Hortgagee all instruments reasonably
appropriate or necessary to permit such participation. If prior to the receipt
by Hortgagee of such award or payment the Property shall have been sold on
foreclosure of this Mortgage, Mortgagee shall have the right to receive such
award or payment to the extent of (a) the indebtedness secured hereby remaining
unsatisfied after such sale of the Property, with interest thereon at the default
rate specified in the Note and of (b) the reasonable counsel fees, costs and
disbursements incurred by Mortgagee in connection with the collection of such
award or payment.
11. Junior Liens. If foreclosure proceedings of any second mortgage or
second trust deed or any junior lien of any kind should be instituted, Mortgagee
may, at its option, immediately or thereafter declare this Mortgage and the
indebtedness secured hereby due and payable forthwith, and may at its option
proceed to foreclose this Hortgage. However, nothing in this paragraph shall be
deemed to constitute authorization or approval by Mortgagee of any secondary
financing or liens. Mortgagor shall not, either voluntarily or by operation of
law allow any lien, interest, charge or encumbrance ranking prior to or on a
parity with or subordinate to the lien of this Mortgage to be placed upon or to
affect any part of the Property without Mortgagee's prior written consent which
may be withheld at Mortgagee's discretion.
12. Subroqation. To the extent of the indebtedness of Mortgagor to
Mortgagee described herein or the indebtedness secured hereby, Mortgagee is
hereby subrogated to the lien or liens and to the rights of the owners and
holders thereof of each and every mortgage lien or other encumbrance on the
Property which is paid and/or satisfied in whole or in part out of the proceeds
of the loan described herein or secured hereby, and the respective liens of said
mortgages, liens or other encumbrances shall be and the same and each of them
shall, at Mortgagee's option, be preserved and pass to and be held by Mortgagee
herein as security for the indebtedness to Mortgagee herein described or hereby
secured, to -the same extent that it would have been preserved and would have been
passed to and been held by Mortgagee had it been duly and regularly assigned,
transferred, Bet over and delivered unto Mortgagee by separate deed of assignment
notwithstanding the fact that the same may be satisfied and cancelled of record.
13. Costs and Expenses. To pay all and singular the costs, charges and
expenses, including attorneys' fees, reasonably incurred or paid at any time by
Mortgagee, bc-;cause of the failure of Hortgagor to perform, comply with and abide
by each and every the stipulations, agreements, conditions, and covenants of the
Note and this Hortgage, or either, and every such payment shall be immediately
due and payable, shall bear interest from the date so paid at the maximum rate
allowed by law or twenty-five percent (25%) per annum, whichever is less, and
shall be secured by the lien of this Mortgage. .-
14. Assiqnment of Rents. This _Mortgage constitutes an assignment of all
rents, issues and profits derived from the Property and when Mortgagor shall be
in default in the payment of any amount of money to Mortgagee under the terms
hereof, or should Mortgagor default in any of the other terms, provisions or
conditions of this Mortgage, then and in that case Mortgagee shall have the
right, without notice to Mortgagor, to collect and receive from any tenant or
lessee of the Property and the improvements thereon, and to give proper receipts
and acquittances therefor, and after paying all commissions of any rental agent
collecting the same, and any reasonable attorneys' fees and other necessary
expenses incurred in collecting same, to apply the proceeds of such collections
upon any indebtedness, obligation or liability, of Mortgagor hereunder.
15. :!:.ax 9;nd InE''.llr~!l.;:e Escrow. At Mortgagee's option, Mortgagor shall pay
to Mortgagee each month until the Note is fully paid, one-twelfth (1/12) of a sum
equal to tIle annual premium due for fire, extended coverage, and other hazard
insurance includillg flood insurance, covering the Property, and/or one-twelfth
(1/12) of the taxes and assessments to be next due on the Property (all as
estimated by Mortgagee) less all sums already paid therefor, and to be divided
by the number of months to elapse prior to the date when such taxes and
<lBSeom.liCmto D11a11 b0como delinquent. Said numB nhall beheld by Mortgagee
without interest to pay said insurance, taxes, and assessments and shall be
applied on the payment thereof when due. No interest shall be paid or credited
to Mortgagor on such sums unless required by 1m.... If at any time Hortgagee
determines there are insufficient funds being held to pay the insurance premiums
and/or taxes next coming due, Mortgagor Hill pay the amount of deficiency on
demand. Any excess held for purposes of this paragraph by Mortgagee when the
Note is paid in full shall be paid to Mortgagor.
16. Lic~nses. All licenses and permits required for the lawful occupancy
of the Property shall be issued by governmental authorities having jurisdiction
thereover and shall at all times be valid and in good standing. Mortgagor agrees
4
LEWIS, VEGOSEN AND ROSElffiACH, P.A.
500 SOUTH AUSTRALIAN AVENUE, P.O. BOX 4388, w"EST PALM BEACH, FLORIDA 33402-4388
''':i1
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that the Property shall at all times be in compliance ~lith all rules, regulations
or statutes affecting the Property or, alternatively, valid variances or
governmentally granted exceptions to such rules, regulations or statutes shall
be in effect.
17. Termite Bonq. At the request of Mortgagee, Mortgagor will furnish
a standard termite bond insuring against damage by infestation on the buildings
now or hereafter located on the Property, in such amounts and terms, and with
such company as approved and required by Mortgagee; and in the event Mortgagor
does not comply with this covenant Mortgagee shall have the right but not the
obligation to obtain same and the cost thereof shall become immediately due and
payable, shall bear interest at the minimum rate allowed by law or twenty-five
percent (25%) per annum, whichever is less, and shall be secured by the lien of
this Hortgage.
18. Loan Aqreements. In the event that this Mortgage is given to secure
a construction loan, failure on the part of Mortgagor, or Mortgagor's
contractors, architects, engineers, or sub-contractors to comply with the terms
of the Construction Loan Agreement of even date herewith, which is by reference
incorporated herein, shall, at the option of Mortgagee, constitute a default
hereunder. Likewise, if this Hortgage is given in connection with a Loan
Agreement or any other agreement (s) to which Mortgagee is a party or a
benef iciary of its terms, such agreement (s) is (are) incorporated herein by
reference and this Hortgage shall secure all of the obligations of Hortgagor
and/or the other parties, if any, executing such agreement(s).
19. Financial statements. Mortgagor covenants and agrees that Mortgagor
will not later than thirty (30) days after the end of Mortgagor's fiscal year,
furnish unto Mortgagee a complete and accurate balance sheet and profit and loss
statement reflecting Mortgagor's liabilities as well as profit and 1088 for the
fiscal year, and such balance sheet and profit and loss statement shall be of at
least the same standard and detail as the financial statements submitted to
Mortgagee in connection with the application for the loan secured hereby. All
of such financial statements shall be certified as being correct by Mortgagor
and, if the financial statements submitted in connection with obtaining the loan
secured hereby were reviewed, compiled, prepared or certified by an independent
certified public accountant, such annual statements shall also be reviewed,
compiled, prepared or certified (as the case may be) by an independent certified
public accountant.
20. Defaul.t. The whole of the principal sum and the interest due and
payable under the Note and all other indebtedness secured by this Mortgage shall,
at the option of Mortgagee, become due and payable, or Mortgagee shall have the
right to exercise any other remedy provided herein or at law or in equity upon
any of the follO\'ling: (a) default in the pa1rment of any installment of principal
and/or interest in accordance with the terms of the Note; (b) default in the
payment of any tax, on or before the delinquency date, or after default in
payment of any utility charge or assessment for thirty (30) days after the same
shall be due and payable; (c) after default for thirty (30) days after the
delinquency date in the payment of any installments of any assessment for local
improvements heretofore or hereafter made which is or may become payable in
installments and may at any time affect the Property; (d) upon any assignment
made by 110rtgagor or any maker, co-maker, endorser or guarantor of the Note (all
of such parties being herein collectively called "Obligor") for the benefit of
creditors; (e) upon the appointment of a receiver, liquidator or trustee of any
Obligor or Guarantor, or the admission in writing by any Obligor or Guarantor of
its inability to pay its debts generally as they become due or the adjudication
of an Obligor or Guarantor to be a bankrupt or insolvent, or the filing of any
petition of the bankruptcy, reorganization or arrangement of any Obligor or
Guarantor pursuant to the Federal Bankruptcy Act or any similar statute, or the
dissolution or liquidation or institution of any proceeding for the dissolution
or liquidation of any Obligor or Guarantor and, if such appointment,
adjudication, petition or proceeding be involuntary and not consented to by the
Obligor or Guarantor, the failure to have same discharged, stayed or dismissed
within thirty (30) days; (f) if Mortgagor shall cause or suffer any, mortgage,
judgment or mechanic'S lien or liens to be placed upon the Property and same
remains unbonded or unpaid for more than ten (10) days; (g) upon the Property
or any part thereof becoming subject to any lien for any federal, state or city
taxes other than real estate taxes; (h) if any of the sums of money advanced by
Mortgagee hereunder to protect, preserve or enhance Mortgagee's security or to
purchase insurance or other items which Mortgagee has the right to purchase at
Mortgagor's expense hereunder shall not be promptly and fully paid within ten
(10) days next after the same become due and payable; (i) if each and every of
the stipulations, agreements, conditions and covenants of the Note, this Mortgage
and other loan documents, or any of them (it being understood and agreed that a
default under anyone of such loan documents is a default under all), are not
duly performed, complied with and abided by within the grace periods, if any,
provided; (j) if any of the representations or warranties made by Mortgagor or
any Obligor or Guarantor of the Note in connection with obtaining of the loan(s)
secured hereby or in connection with the execution of the loan documents are
incorrect, falee or misleading; or (k) the death or dissolution of any party who
is an Obligor or Guarantor of the Note; (1) a substantial change in the
character of the business of any Obligor or Guarantor on the Note or failure of
any such party to operate its business as engaged in at the time of execution of
5
LEWIS, \~GOSEN AND ROSENBACH, P.A.
500 SOUTH AUSTRALIAN AVE/WE, P.O. BOX 4388, ft~ST P}~M BEACH, FLORIDA 33402-4388
ORB
721 0 Ps
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the Note as an on-going business; (m) issuance of any tax lien, warrant, process
or order of attachment, levy garnishment or other lien against Mortgagor or any
Obligor or Guarantor of the Note; (n) reduction in the value of or impairment
of the Property or any other collateral given to secure the Note; (0) Mortgagee
deeming itself insecure or financial responsibility of the obligor and/or any
Guarantor under the Note becoming impaired or unsatisfactory in the reasonable
opinion of Hortgagee; or (p) upon termination or cancellation for any reason
without Mortgagee's consent of any major lease upon which Mortgagee may have
relied in making the loan(s) secured hereby.
21. Loss or Destruction of Note. In the event the Note shall be
mutilated, destroyed, lost or stolen, Mortgagor will deliver to Mortgagee in
substitution thereof, a new Note containing the same terms and conditions as the
Note; provided however, that Mortgagee offers proof of such mutilation or
destruction reasonably satisfactory to Mortgagor, or that Mortgagee agrees to
indemnify and hold Hortgagor harmless against at.tempts to collect on the original
Note.
22. Sale in Parcels. Upon any foreclosure sale of the Property, the same
may be sold either as a whole or in parcels as Mortgagee may elect, and, if in
parcels, the same may be divided as Mortgagee may elect, and, at the election of,
Mortgagee, may be offered first in parcels and then as a whole, that offer
producing the highest price for the entire property to prevail, any law,
statutory or otherwise, to the contrary, notwithstanding, and Mortgagor waives
the right to require any such sale to be made in parcels or the right to select
such parcels.
23. Severability. In the event of the invalidity under applicable law
of any of the provisions herein, or in the Note or other documents executed in
connection with the loan secured hereby, all of said provisions shall be deemed
stricken from that instrument which shall then remain in full force and effect
as if such invalid provisions had never been a part thereof.
24. Hortqaqee's Riqhts. Without affecting the liability of Mortgagor or
any other person (except any person expressly released in writing) for payment
of any indebtedness secured hereby or for performance of any obligation contained
herein, and without affecting the rights of Mortgagee with respect to any
security not expressly released in writing, Mortgagee may, at any time and from
time to time, either before or after the maturity of the Note, and without notice
or consent: (a) release any person liable for payment of all or any part of the
indebtedness or for performance of any obligation; (b) make any agreement
extending the time or otherwise altering the terms of payment of all or any part
of the indebtedness, or modifying or waiving any obligation, or subordinating,
modifying or otherwise dealing with the lien or charge hereof; (c) exercise or
refrain from exercising or waive any right Mortgagee may have; (d) accept
additional security of any kind; or (e) release or otherwise deal with any
property, real or personal, securing the indebtedness, including all or any part
of the Property.
25. Additional Charqes. If additional documentary stamps, intangible
taxes, U.s. revenue stamps, title insurance premiums or recording charges are
ever assessed or required to be paid on the obligations secured hereby on this
Hortgage or to further clear title to the Property, same will be paid by
Mortgagor on demand. In the event of failure of Mortgagor to make such payment,
Mortgagee shall have the right but not the obligation to advance same and add the
advance, together with interest at the default rate in the Note, to the amounts
secured hereby and/or to accelerate the obligations secured hereby and/or to
avail itself of any other remedy available at law or in equity.
26. Satisfaction and/or Partial Releases. Mortgagor shall pay the cost
of preparation and recording of any partial releases of this Mortgage and any
other security instruments given in connection herewith that may be given
(although Mortgagee shall have no obligation to give same unless specifically
provided herein or in another loan document) and shall pay the cost of recording
a satisfaction hereof and of any other such security instruments when all
obligations secured hereby are paid in full.
27. Captions. Paragraph headings are inserted solely for ease of
reference and shall not be construed or interpreted to enlarge, diminish, modify
or change any of the provisions hereof.
28. ,QrosEl Colld_L~~J:"aUzZiti()n. 'mE PHOPEH'fY ENCUMBERED BY THIS MOR'rGAGE
AND BY ALL OTHER SECURITY INSTRUMENTS (AS DEFINED IN THE NOTE SECURED HEREBY),
IF ANY, SIIl\.LL SECURE NOT ONLY THE I10TE SECURED HEREBY BUT SHALL AI..SO STAND AS
ADDITIONAL COLLATE!UU. FOR REPAYMENT OF EVERY NOTE, LIABILITY AND OBLIGATION OF
EVERY KIND OR NATURE NQ1;'j OR HEREAFTER IN EXISTENCE (HEREIN CALLED THE "OTHER
OBLIGATIONS") NOV~ OR HEREAFTER HELD BY HORTGAGEE OR ANY OF MORTGAGEE'S CORPOFATE
AFFILIATES AND SIGNED, COSIGNED, GUARfu~TEED OR ENDORSED BY ANY PARTY WHO HAS
SIGNED, COSIGNED, GUARANTEED OR ENDORSED THE NOTE SECURED HEREBY OR THIS MORTGAGE
OR ANY OTHER SECURITY INSTRUMENTS. LIKEWISE, ALL PROPERTY MORTGAGED, PLEDGED AND
HYPOTHECATED AS SECURITY FOR REPAY~ffiNT OF ANY OF THE OTHER OBLIGATIONS SHALL
STAND AS ADDITIONAL COLLATERAL FOR REPAYMENT OF THE NOTE SECURED HEREBY AND FOR
PERFORMANCE OF ALL OBLIGATIONS HEREUNDER AND UNDER THE OTHER SECURITY
INSTRUMENTS. ANYTHING CONTAINED IN THIS PARAGRAPH TO THE CONTRARY
6
LE'.HS, VEG0SEN Al'iD ROSENBACH, P.A.
500 SOUTH AUSTR~LIAN AVENUE, P.O. BOX 4388, ~~ST P~~M BEACH, FLORIDA 33402-4388
ORB
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NOTvHTHSTANDING, NO COLLATERAL l-lORTGAGED TO SECURE ANY OF THE OTHER OBLIGATIONS
WHICH CONSTITUTES THE PRINCIPAL P~SIDENCE OF THE MORTGAGOR THEREOF SHALL STAND
AS ADDITIONAL COLLATER~~ FOR REPAYMENT OF THE NOTE SECURED HEREBY OR FOR THE
OBLIGATIONS OF HORTGAGOR HEREUNDER OR AS ADDITIONAL COLLATERAL FOR ANY OF THE
OTHER OBLIGi\TIONS EXCEPT FOR THOSE OBLIGATIONS SPECIFICALLY MENTIONED IN THE
MORTGAGE ENCUMBERING SUCH PRINCIPAL PLACE OF RESIDENCE.
29. More Than One Note. In the event this Mortgage now or hereafter
secures more than one note, the term "Note" as used herein shall mean and include
all of such notes and a default under anyone or more of such notes shall
constitute a default under all so that if Mortgagee has the right to accelerate
anyone of such notes it shall have the right also to accelerate one or more of
such notes.
30. MortGaGee's RiGhts Cumulative. The rights and remedies of Mortgagee
hereunder shall be in addition to every other right and remedy now and hereafter
provided by law. Hortgagee' s rights and remedies shall include without
limitation, the right but not the obligation to advance sums on behalf of
Mortgagor or to protect Mortgagee's security or Mortgagee's rights, all of which
advances may be made without notice, shall bear interest at the maximum rate
allowed by law not to exceed 25% per annum and shall be due on demand. The rights
and remedies of Hortgagee shall be cumulative and not exclusive one of the other;
Mortgagee may exercise the same at such times, in such order, to such extent, and
as often as Hortgagee deems advisable, and ltlithout regard to whether the exercise
of one precedes, concurs with, or succeeds the exercise of another; no delay or
omission by Mortgagee in exercising a right or remedy shall exhaust or impair the
same, or constitute a waiver of, or acquiescence in, a default; and no waiver of
a default by Mortgagee shall extend to or affect any other default or impair any
right or remedy with respect thereto.
31. No vlaiver. Any failure of Mortgagee to insist upon the strict
performance by Mortgagor of any of the terms or provisions hereof shall not be
deemed to be a waiver of any of the terms or provisions hereof, and Mortgagee,
notwithstanding any such failure, shall have the right thereafter to insist upon
the strict performance by Hortgagor of any and all of the terms and provisions
of this Mortgage to be performed by Mortgagor; Mortgagor shall not be relieved
of such obligation by reason of the failure of Mortgagee to comply with any
request of Hortgagor, to take action to foreclose this Mortgage or otherwise
enforce any of the provisions of this Mortgage or of any obligations secured by
this Hortgage.
32. ~~rmitted Use. In the event the use of the mortgaged premises as a
corrmercial store shall be changed or shall not be continuous (except to the
extent that casualty or catastrophe may require suspension of operations) this
Mortgage shall be in default unless the prior written consent of Mortgagee shall
have been obtained permitting an alternate use or abandonment of the permitted
use described above.
33. Future Advances. This Mortgage secures future advances and upon
request of Mortgagor, Mortgagee may hereafter, at its option, at anytime within
twenty (20) years from the date hereof and before full payment of this Mortgage
and the Note, make further advances to Mortgagor and any such further advances,
with interest, shall be secured by this Mortgage and shall be evidenced by an
additional note then unpaid, and the total amount of indebtedness that may be
secured by this Mortgage may decrease or increase from time to time, but the
to.tal unpaid balance so secured at anyone time shall not exceed the maximum
principal sum of $350,000.00, together with interest thereon and any and all
disbursements made by Mortgagee for the payment of taxes, levies, or insurance
on the Property with interest on such disbursements at the rate specified herein,
and for reasonable attorneys' fees and court costs incurred in the collection of
any or all of such sums of money.
34. Hazardous and Toxic Haste. Mortgagor represents, covenants and
agrees, after thorough investigation of the Property, that there has not been and
there does not exist, and that it has not and will not permit, commit or suffer,
any hazardous and/or toxic material, chemical or substance affecting the Property
or any hazardous and/or toxic material, chemical or substance originating from
or traversing the Property affecting adjacent or surrounding property, air or
water. In the event Mortgagee has reason to suspect that there may be hazardous
and/or toxic material, chemical or substance affecting the Property or
originating from or traversing the Property and affecting adjacent or surrounding
property, air or water, then Mortgagee shall have the right to obtain, at
Mortgagor's expense, a report prepared by an environmental engineer or testing
service selected by Mortgagee. In the further event that there is found to exist
any hazardous and/or toxic material, chemical or substance affecting the Property
or any hazardous and/or toxic material, chemical or substance originating from
or traversing the Property and affecting adjacent or surrounding property, air
or water, Mortgagor hereby covenants and agrees at its expense to clean up all
sUGh hazardOUS and/or toxic materi~l~r chemt~~lg o{ sqbqtanGeg, to restore and
repair the Property and adjacent or surrounding property, air or water, and to
indemnify and hold Mortgagee harmless from any cost incurred and from any damage,
direct or indirect, sustained by Mortgagee as a result of any such hazardous
and/or toxic materials, chemicals or substances. Such indemnification shall
include, without limitation any and all claims, suits, liabilities, costs,
7
LE";lIS, VEGOSEN MID ROSENBACH, P.A.
500 SDlIT'fl l\lJSTPJ\LI!,N AVENUE, P.O. BOX 4388, WEST PALM EEACH, FLORIDA 33402-4388
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judgments and expenses (including attorneys' fees) of every kind and nature
suffered by or asserted against Mortgagee as a direct or indirect result of any
warranty or representation made by Mortgagor in this paragraph being false or
untrue in any respect or as a result of the existence now or hereafter of any
hazardous and/or toxic materials, chemicals or substance described in this
paragraph. Mortgagor further covenants and agrees that this provision in its
entirety shall survive any mortgage foreclosure proceeding or deed in lieu
thereof, and shall survive after termination or satisfaction of this Mortgage
for any cost incurred or damage, direct or indirect, sustained by Mortgagee as
a result of any hazardous and/or toxic material, chemical and/or substance
affecting the Property or abutting or surrounding property, air or water, which
existed or arose prior to, during or after the term of this Mortgage.
35. Number of Paqes. This Mortgage consists of 8 pages inclusive of signature
and notary pages but exclusive of Exhibits.
IN \'HTNESS YJHEREOF, the said Hortgagor has executed this Hortgage
under seal on the day and year herein first above written.
~~T.e~
GE~RG~ T. ULVERHOU$~
/UCCZ,<o-4--- /J}' {-tcf-r-e/'J..A)?~~/
/ GLORIA M. CULVERHOUSE
COUNTY OF PALE BEl'"CH
Before me personally came and appeared GEORGE T. CULVERHOUSE and
GLORIA M. CULVERHOUSE, his wife, who did not take an oath and who produced as
identification Florida Driver's Licenses, and who executed the foregoing
instrument and acknowledged to and before me that they executed said instrument
for the purposes therein expressed.
official seal this
IN WITNESS WHEREOF, I have hereunto set my hand and
/7 day of April, 1992.
affixeq my
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LEWIS, 'VEGDSEN l...ND p.OSEHa'.CH, P .A.
500 SOUTH AUSTRALIAN AVENUE, P.O. BOX 4388, WEST PALM BEACH, FLORIDA 33402-4388
'3 -12 1 u Ps ~l 6 -.7: B
CXff 181 T A
PROMISSORY NOTE
$l57,500.00
West Palm Beach, Florida
April 17, 1992
FOR VALUE RECEIVED, the undersigned, GEORGE T.
CULVERHOUSE and GLORIA M. CULVERHOUSE, his wife, with an address at
821 S. W. 36th Avenue, Boynton Beach, Florida 33435, as Maker,
jointly and severally promise to pay without setoff, deduction or
counterclaim of any kind or nature to PRIME BANK, as Payee, or
order, at 3717 Boynton Beach Boulevard, Boynton Beach, Florida
33425-0460, or at such other place as may be designated in writing
by Payee, the principal sum of ONE HUNDRED FIFTY SEVEN THOUSAND
FIVE HUNDRED AND NO/I00 DOLLARS ($157,500.00) together with
interest thereon at a rate of nine percent (9.0%) per annum from
the date of advancement on all amounts disbursed. Principal and
interest are to be paid in lawful money of the United States as
follows:
By payment on the l7th day of May, 1992 and on the 17th
day of each month thereafter of equal monthly payments of principal
and interest in the amount of ONE THOUSAND FOUR HUNDRED SEVENTEEN
AND 07/100 DOLLARS ($l,4l7.07). Equal monthly payments as
aforesaid shall be due and payable until April 17, 1997, at which
time the entire unpaid principal balance, together with all accrued
and unpaid interest, shall be due and payable.
From and after ten (lO) days after the date upon which
any payment of principal or interest becomes due hereunder (whether
by acceleration or otherwise), interest shall be payable on all
such SUTI1S from time to time remaining unpaid at the maximum rate of
interest permitted by law, or twenty-five percent (25%) per annum,
whichever shall be less ("the Delinquent Interest "), in lieu of the
rate hereinbefore specified, on demand. In addition, Maker shall
pay a late charge of five percent (5%) of the amount of any payment
not made v.Ti thin ten (10) days of the due date. In no event,
however, shall the combined amounts of the late charges and the
Delinquent Interest exceed the maximum rate allowed by law.
In the event that any payment of principal or interest is
not made within ten (lO) days after the due date, the entire
remaining unpaid principal and all accrued interest shall become
immediately due and payable at the option of Payee. This Note
shall also become immediately due and payable at the option of
Payee upon the happening of any default or event by which, under
the terms of the Hortgage and/or other Security Instruments
securing this Note hereinafter referred to, this Note mayor shall
become due and payable.
The right is given to prepay this Note in whole or in
part if there is no uncured default hereunder or under the Security
Instruments securing this Note, but the payment of any larger sums
in addition to the payments herein required shall not relieve the
Maker of the pa}~ent of the periodic installments herein provided
for, unless it is specifically stipulated by the Maker at the time
of any partial prepayment that such larger sums are to be applied
to the advance payment of the periodic installments next maturing
in the order of their due dates.
All pa:ymEmts made upon this Note shall be applied first
to the payment of accrued interest and secondly upon the principal.
Interest shall be calculated on a three hundred sixty (360) day
year for the actual number of days elapsed in each calendar year by
multiplying the outstanding principal balance by the rate of
interest provided herein and then multiplying the product thereof
by a fraction the numerator of which is the actual number of days
the debt is outstanding in each calendar year and the denominator
of which is three hundred sixty (360).
1
LEWIS, VEGOSEN AND ROSEHEACH, P.A.
500 SOu~I AUSTF1\LIAN AVENUE, P.O. BOX ~388, ~EST PALM BEACH, FLORIDA 33402-4388
ann
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7210 Ps 1629
The Maker and all endorsers now or hereafter becoming
parties hereto jointly and severally waive presentment and demand
for pa~nent, notice of dishonor, protest and notice of protest of
this Note.
This Note is secured by a Mortgage of even date herewith
made by some or all of the parties comprising Maker and/or other
parties in favor of Payee and encumbering real property located in
Palm Beach County, Florida. This Note may also be secured by a
security agreement and/or other security instruments in favor of
the Payee and the aforesaid Mortgage and any and all such other
security instruments are herein collectively called the "Security
Instruments". Maker acknowledges that the loan evidenced by this
Note and secured by the Security Instruments is made in reliance on
the financial strength of the Maker as well as on the value of the
property mortgaged and pledged by the Security Instruments.
Accordingly, Maker specifically acknowledges that, in the event of
a foreclosure under 'the above referenced Mortgage and/or
realization of the other interests assigned, pledged and secured by
the other Security Instruments, the Payee shall be entitled to the
entry of a deficiency judgment to the extent of any deficiency
against the Maker. However, nothing herein shall prevent Payee
from pursuing a judgment and/or collection against Maker prior to
or simultaneously with pursuing foreclosure.
The I-faker agrees to pay all costs and expenses of
collection of this Note incurred by Payee, in or out of court, and
including court related costs and expenses and reasonable
attorneys' fees (including fees for paralegals and legal
assistants) and disbursements (and including such costs, fees and
disbursemeats incurred on appeal of any litigation). No extension
of time for payment of this Note, or any installment hereof, and no
alteration, amendment or waiver of any provision of this Note or of
the Security Instruments made by agreement betvleen Payee and any
person or party shall release, discharge, modify, change or affect
the liability of Maker under this Note.
No delay by the holder in enforcing any covenant or right
hereunder shall be deemed a waiver of such covenant or right and no
waiver by Payee of any particular provision hereof shall be deemed
a waiver of any other provision or a continuing waiver of such
particular provision, and except as so expressly waived, all
provisions hereof shall continue in full force and effect.
Payee is hereby given a lien upon and a security interest
in and a right of set-off against all property of every party
comprising Maker and of any other parties now or hereafter becoming
liable for repayment of this Note now or at any time hereafter in
the possession or control of Payee for any purpose or any capacity
whatsoever including but not limited to any balances or share of
any deposit, trust or agency account as security for the payment of
this Note and Payee shall have the same rights to such property as
it has with respect to the property which is the subject of the
Security Instruments.
This Note shall be governed by and construed and enforced
in accordance vli th the laws of the State of Florida. All
agreements between the Maker and the Payee contained or
incorporated herein are hereby expressly limited so that in no
contingency or event whatsoever, whether by reason of deferment in
accordance with this Note or any agreement, or advancement of the
loan proceeds, acceleration of maturity of the loan, prepayment or
otherwise, shall the amount paid or agreed to be paid to Payee for
the loan, use, forbearance or detention of the money to be loaned
hereunder exceed the maximum rate of interest permitted by law, or
twenty--five percent (25%) per annum, whichever shall be less. If,
from any circumstance ,..hatsoever fulfillment of any provision
hereof, or of the Security Instruments or any other agreement
between t:hf~ parties, at the time performance of such provision
shall be due, the maximum interest rate permitted by law shall be
2
LL>irS, IlEGOSE.N A.'in ROSE:NBACE, P .A.
500 SOUTH JWSTEALVJI AllEmJZ, P.O. EOX 4388, WEB'/! J?:PJ.Ji BEACH, FI..1JRIDA JJ402~4.i88
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exceeded, then, ipso facto, the obligation to be fulfilled shall be
reduced to the limit allowed by law. This provision shall never be
superseded or waived and shall control every other provision of all
agreements between the undersigned and Payee. In the event an
~lount above the maximum rate allowed by law is ever paid by the
Maker or received by Payee, such amount shall be applied to reduce
principal and no prepayment penalty shall be assessed for any
amounts so prepaid, or, in the alternative, Payee shall refund such
amounts -to Maker directly.
In the event of invalidity of any provls10n of this Note
or of any provision of any of the Security Instruments, same shall
be deemed stricken and the balance of the provisions of this Note
and the Security Instruments shall remain in full force and effect
as if the offending provision never existed.
The term "Payee" as used herein shall include not only
the Payee herein, but Payee's successors and assigns and all
holders of this Note.
ANY DEFAULT UNDER THE TERMS OF THIS NOTE OR THE SECURITY
INSTRUMENTS SHALL ALSO CONSTITUTE A DEFAULT UNDER THE TERMS OF ANY
AND EVERY OTHER NOTE, GUARANTEE, OBLIGATION, MORTGAGE OR OTHER
SECURITY INSTRU}lliNT NOW OR HEREAFTER MADE PAYABLE TO OR HELD BY
PAYEE OR ANY OF PAYEE'S CORPORATE AFFILIATES AND SIGNED, COSIGNED,
GUARANTEED OR ENDORSED BY ANY PARTY miO IS LIABLE IN WHOLE OR IN
PART (AS MAKER, CO-MAKER, ENDORSER, GUARANTOR OR OTHERWISE) FOR
REPAYMENT OF THIS NOTE (HEREIN CALLED THE "OTHER OBLIGATIONS");
LIKEWISE, ANY DEFAULT UNDER ANY OF THE OTHER OBLIGATIONS SHALL
CONSTITUTE A DEFAULT HEREUNDER. IN THE EVENT OF A DEFAULT UNDER
THIS NOTE, THE SECURITY INSTRUMENTS OR THE OTHER OBLIGATIONS WHICH
WOULD ENTITLE PAYEE TO ACCELERATE EITHER THIS NOTE OR ANY OF THE
OTHER OBLIGATIONS, PAYEE SHALL ALSO HAVE THE RIGHT TO ACCELERATE
ALL OF SUCH OBLIGATIONS.
HARER AND ALL PARTIES COMPRISING MAKER HEREBY KNOl-HNGLY,
VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHT THAT MAY EXIST TO
r~VE A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED UPON OR
ARISING OUT OF, UNDER OR IN ANY WAY CONNECTED WITH THIS NOTE, THE
SECURITY INSTRUMENTS AND/OR ANY OTHER DOCUMENT CONTEMPLATED TO BE
EXECUTED IN CONNECTION WITH THIS NOTE AND THE LOAN REPRESENTED
HEREBY, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH ANY COURSE
OF cONDucrr, COURSE OF DEALING / STATEMENT (WHETHER VERBAL OR
WRITTEN) OR ACTION OF ANY PARTY COMPRISING MAKER OR PAYEE. THIS
PROVISION IS A 112\TERIAL INDUCEMENT FOR PAYEE .fI1AKING THE LOAN
EVIDENCED BY THIS NOTE.
This Note may not be changed or terminated orally.
The rate of interest charged on
this loan is authorized by
Chapter 665 of the Florida
Statutes. This statement is
made pursuant to F.S. 687.l2
(4), the "Interest Rate Parity
Statute II .
GEORGE T. CULVERHOUSE
GLORIA M. CULVERHOUSE
11M I
K:\F2000\2875\Ol02\MTG\NOTE
.,
.
3
RECORD VERIFIED
PAUA OEACH COUNTY, FLA
LE',o/IS, VEGOSEN A.'ID ROSENBACH, P.A.
500 SOlTH AUSTRALIA.~ AVENUE, P.O. BOX 4388, WEST PhL~ BEACH, FLORIDA 33402-4388
CLERK CiRCUIT COURT
(407) 734-9110
(407) 734-9111
November 23, 1993
623 N. Railroad Ave.
Boynton Beach, Fl.
City of Boynton Beach
100 East Boynton Beach Blvd.
Boynton Beach, Florida 33425
RE: 623 North Railroad Ave.
Boynton Beach Fl. 33435
To Whom It May Concern,
This letter is provide written authorization for David Beasley
to act in my behalf in the approval process and permitting
requirements to the above property. I authorize David Beasley
to be my agent. If you have any questions please feel free to
call me.
Sincerely,
~
George Culverhouse
LICENSED / INSURED / RESIDENTIAL / COMMERCIAL
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