- 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 anyPage: 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