- 4 -
This loan is secured by a real estate mortgage dated
10/28/94 on property located in Palm Beach County,
Florida and commonly known as 6500 N. Federal Hwy.,
Boca Raton [(the mortgaged property)]. A Guarantee
dated 8/19/94 from Frederick H. Jackson and F. H.
Jackson.
ASSUMPTION POLICY: We will not permit an assumption
unless required to by law.
The loan agreement is signed “Palm Beach Furniture Company, Inc.,
Richard McKale, President” (with Mr. McKale’s signature).
The Construction Agreement
A document entitled “Construction Loan Agreement” (the
construction agreement) was executed by the bank and the
corporation simultaneously with the loan agreement. It provides
that the proceeds of the loan will be used to erect a furniture
showroom in Palm Beach County, Florida. Among other things, the
construction agreement provides that the loan will be secured by
a mortgage and security agreement on the premises to be
constructed and the personal property thereon.
The Mortgage
A document entitled “Commercial Real Estate Mortgage” (the
mortgage), relating to the mortgaged property and mortgaging that
property to the bank, was filed with, and recorded by, the Clerk,
Palm Beach County, Florida, on October 31, 1994. Among other
things, the mortgage provides: “This mortgage, together with all
other instruments evidencing or securing the Indebtedness, or any
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011