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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: ....., ) f'Yq') "'1' i/ 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. , 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/ -t""AA_. Jel, /Q1u 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. ~ IS. ~~ APPLICANT/AGENT iD L,\~;'< :< /' t- rJ V1t"t: L-7" V, b APPLICAT.WP5 .",'7 CLiJ n~ \..;1 \ D\7/ 'N",', ~ / / '"" )-,' \11/ / Page 3 of 3 APR-21-1992 02:30pm 92-119748 OR8 121u Ps 1620 Con 157,500.00 In! 315.00 Pen ('f Inh"~ riC- T~ iC' Ci"\f j'RT' \..U:'f\1 \ Vi ! fh.. ,-..J.. . DDe 50-~~ 00 - F8 r i.... J. U' '"I'"\'U"',\f 'I \., U' !~ ii' r L 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 ..~ ORB 7210 0,., I::; 1 6 ., 0'" - .LL 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 ;[) .,.. .':E i-t ( ~-c:... .]. LJ 1"9 1 ~ --:.; ".. Q ..::..- ..,. 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 ~ .r ....-r,r- 1. o..:::..::J 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 7_-, ,i u.-' ....:.... ..l.. 1-'"3 1 L'-",r wLO 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 ,-,r; om -y "-oj: -.. 'J,~ l"i 1 f ..-:,--: " 0" -. .. ;,_q 0 ,,_ ." .r ..:..- ..... 1-....~ I _ i..J..L- ,. 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 :- ""I.,. /-: ~:':,~:,"t;._i.;o>:.t~_; ~ ~j,"'~ T!\--f.~^fli'r.,""/ii.:;;. ..... .;i~:,~~~~;~~1~ s, Notary Public'i..~.,f.,;;::c,{:'';::';\"''''''*1: , ' ;'- ~~::<;.~ ,-,;"~~~^f-:~-.0~)'~:;~,f}-"":(~:1~'; a at \Lar~""".~", "",~t, .' ""'",'.\;J ..,.:' ,,", .~......... :, '-It"'~<''''' 'J! "',-: ',' "':', "'~'.. ,.f;' ......,'..... AA 7623-3-: ' . C ">,> "'-!" , 'J "''i-' ',... ~r%W~~~i~~~~~(y My COfirrnission Expires:3-28-94 MMI K:\F2000\287S\Ol02\MTG\MTG ~ \ or;;;" ~I, .~,' . 8 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 i\D 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 11"8 Jr, . 7~-i 0 n" ~ L LrLJ ..c..-L r':l J.'l....1.....J1. 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 -01 5!l ::;:, ;1 -<, . , ~: ~r ~1 n' ~I 0, ~I ~' ~ ~i ~I ~. ~j m, 51 ~; I o rn 111 ~ ~3: ~: " ~~ ~ ~ ~~I: 1\ r --1Z;JJ [t) ~ '~:i~' ~I~J~~ ,~ .~,n~}; ~~ ()~::j-j \~~.jj~~~ \ ~ -i ,n -1 <J 1 ~6~~ ~~ ~~~~ ~w ~~.~~ ~ .I~~~ \J\J 1~~ '00 Dmz JlJ_ ~ _ {f) !=<:.). ~ ~~] ~ g ~rl . o~, ~.: ~) ;z)) .lOX: "_[1, jWC ~ )> ... 10 :; lOn1 CI... ~ i)JJ: E~~j~~J: -i ra~-'rn (1l m~ ,11-1:':' ~~~~ ~~~ r- ~ {\; 11 I 0 O.......~. :lnl_ a~ j~~ > 0 .. (J)'I - ;-l;t> :-:Qg? i~;: ~ ~,. -< ~ "'-< ~aO ~- ~~; ~8~ ~~~ :~ 6~; I ., J: n --------------- I~~. I ..,.. \3. ~,~ . I\' ~t ~~ , .~ ~ .. ~ en "Tl (') 0 ~~' , ~:~\ " \; ~ ~ ~ /!/beTh" ~ /' ~ '" ~ ~I 0'~ --- --- ~~.?> 4~~r- -- <9$35.6'$"",,;::,.., 37'-- <,<>4....) =;.J ,$/05" ~-:-= ,,~ !\ ~ ~u ~ ' ~ oOkll 1 'rJ /11'/ ~ -t- III "'--\ ZD.D . . .. 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