HomeMy WebLinkAbout1535 aizall :~in3 :::ui ;r.iir~ ;o ti~~ b~itc:it ot tiirir r.•spcctiv.• sur.•rss~i•s :,nd a.si~;~is, whethc~ so exprc,sed ur not.
3.J~ Au~Irr.a.•s t.~r \oticc~, ctc. :1ny nutirc, cicu::+nd or othc~ in~trumcnt authori~cd by this mort ~a ~e to
uc secvcd a:~ .~r ~;~rcn t.~ thc 13orro~~•cr" n~ay ix srr~•ed on or ~ivcn to thc "IIorrowcr° at ],Zt]'1 ~~OOr~
J.C.Bradford Building, Nashville, Tennessee 37219 or ac S~,~f~ othcr address
As may na~•..~ i~.c:~ :urnisiicci in writ~n~ to th.: ••Lcnci.•r" hy thc "F3orrowcr'•.
:1ny I:J:2C~', .i.~n::~n.i or ot:icr it~strumer.t to he scr~•cci on or xi~•en to "Lencier" may be served on ar ~iven
:o "Lrndcr" a: ::s oii~cc. in J~CKSOII\•illc, Florida, ~r at such othcr :.ddre.ts or addresses as n~ay have bcen
furn~sncd ~n ~~•r?t:nh io thc "13orro~~•. r" by ti~c "Lendcr".
3.t?.. Table ut Cuntents~ :ica~lin~~~ etc. Tiie taUlc oi c~~nt.nts, the h~adin~s oi tiie Articles, sections, para-
rrapi: a:ui suhii~~~:sio:is of ti:is mort;;.a;~c are ioi• conveniaice of re;crence onty, are not to be cons+dered a
aart ii.:coi, ar,ri si-.ail no: limit or oti~erwise af;ect anyo: 1he terms herco[.
3_0, in~at:.i Pr~~visiuns to Aticrt \o ~7lhcrs. in cc~:.c any onc or more of t}:e coven:,nts, aF;r~rc•m2nis,
:~r:::s .~r pro~•:sions coat..::ua in t:~:~ mort~a~~ or in thr nutc shall bc invwlid, ilic~;al or uncntorccai>1c ?n
any :~s,~.ct, tilc val:d~ty o: i:ic remaining covenants, a~;rccmcnts, t.rrms or provisions coniaincd hcrcin and
in tlle no:c shatl oc in no ~ray aficcted, prejudiced or ciisturbcd thercby.
3.115 CIi1n,;es~ ctc. \citn~r this mort~age nor any tcrm hereof may be chan6ed, waived, ciisdiar~;ed or
:e:m:aatcci ora::~, but onIy by an ir.strument in writin~ sign~~d by the party aga~nst which en:orccm.ent of
tac c'r.:.nCe, wa~ver, di~cnar~e ur termination is soi~ght Any agrcement hereafter made by the "Borrower"
and "a.endcr" relat?ng to tnis mortgage shall be superior to the rights of the hoider of any intervening lien
or encumbrance.
ARTiCLE FOUR .
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~:.C2 \.~t~vit;ti~::.r.d•.n^ anytnin~ to ihe contrr~ry cont:~ineci in this rnort~ahe or ir. the note secureti he:ci~y,
or in :,ny o:he. i~strumrnt securin, tne loan evidenced by said note, tne "I.ender" may at its option uec:~.re
tne eniire indci~.ecinr~s scrured hcreop, and all interest thcreon a:~d all a.ivanccs made by "Lender" i~c: e-
Lnccr, immediatciy due and payable in the event of s t~rr+ch by the "Borro~ver" of any cover.ant cont:,:neci
in ii::s mortharc, :ne note s~.'cured here~y. or in that certain building :oan agreement betwecn 1ne "Borrower"
a:.c t::e ":.cader", oatea even date__. herew~,~~ whicn said 'ou:iding loan agreement is, by reier~ncc
::.ercto, ~e?•ein ir.corporated to the same extent and affect as thougn said buildir.g loan ~greement wcre set
iorth ~:e:ein in iu;;.
4.~3 "Bor:•o~vcr" covenants and agrees that in the z~~ent it shall faii .o compiete tl-,e constrac::on and
iurnishing of the improvements to be ere~:ted on the premises hereby mortgaged ir. accordance wita pians
and speciiicatio~ submitieo to "Lender"
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o~ or beiore .!-1 tt..q .1_ _ 1971 or if work on said ~onstruction shati cease oefore completio;. ~
anci sa~d work snal: ~ema:r. abandoned fo: s perion of fifteen (i5) days. ]tQ~R ]t~{XDQ1[ s
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~6iC hen snd ir~ eitaer ~ven: :he e:?tire principai sam tnai has becr.
disbursed 'uy ihe "Z.ender" on accoun: oi the note secured by :his inortgage, iess any amounts tnat may :?:.ve
been re~aid by :iie "Borrower"~ shail ::~en ~COT.c' <~L'0 snd payable, w~th aII accrueti interest t:~e:eon, s: tne
opiior. oi ii:e ";.enae:
~i.J'i ~iS 3 p8: I O: if.C 1T.C3liCCT'1C:.L i0 1}l@ "T...enaer'~ LO A:.~inC i~]@ i08ii evidenced 03 Ll'iE' OD~i~:~L1071 Sc'C:i: CG
~e:eby, ine "'Bor:o~~•e:" has causcd certain other persons, natura~ ~nd corporate, to enter :nio certa;r.
' lt:C:.tS ~Vitit L('.a: ";.~nder" pC.-LaliiiTl~ :O l}7C IitlBilCttlr and payment :O.- construction of impro~•cr~:ents a: S:c:
7:7~CI'Iy t'iC:ei:l UCSCi'ii~CC~: ana 1ilC ~BGCI'Ot~c'i~~ CG~Cf.:ii1~S ai1G 7~1'C~S tha: SUC11 pcrsons snali iill~y ~,.;:orm,
` ec~mpiy ~vi.n ~.:~ci ..bicie by sueh a,reement~. It is :urther cncerstooci and agreed by .he 'Bo: row~,-" .ha:
~ sucn re~resentatior.s ar.ci :~~reements t,y s~id other persans snall co~stitute for thc purpose of ~ts obl:gations
y nereunder, co~•enants on benalf of tne "30: rowe:
s
4.Oa Sn tne e~•eat of aoanoonm~nt of K~ork upon the constructior. of said improvements ta be erect~c; u, ~r.
Liae ~':or:ga.:ed Pro~ertl :or a pcriod of fi:ie~n (25) days, :nc "Lender" may at its option cn:~r :n.o a:;ci
; upun tne ~ior:ga~ed Pro~erty ar.d comple:e the construction of the irnprovements ti:e "Sorro~~~er" 'r.ereby '
' grar.tin, Lo tt.e "L.er.der" fuli power and authoriiy to rnake sccn entry and :o enier in:o suc:~ COili::?: ta or '
~ ~rrangemen:s :hat may oe coas~dered necessary by th~ "Lender" to comple:e said improvem.ents; ar.d any ;
~ sums expended by tne "I,eader" in connectian with suci~ completion shall oe added to the prir.cipal an:our.: t
o: said note ar.d be secured by :hese presen:s and to~ethcr sr.a31 be payable by tnc "Borrower" on deman3 ~
e witn :nterest at tne rate as specified in tne „otr secured by this mortga~e. Provi~ed, however. ihat :ne
~ tctaS amount of tne indeotedness thai may ba secured by ihis mortgage at any one time s:~all not excee3 ~
6 a maximum principal amount oi twice the principal amount sta:ed in the prom~ssory note secured hereby. ~
~ p;us interest thereon, and any disbursemenis made by the "Lender" for the payment of taxes, insurance or
~ otner Lens on the ~roperty encumbered 'oy this mortgage~ with interes: oa such d:sbursements. ~
~ 4. 06 MORTGAGE SHI~?LL SECURE FUTURE ADVANCES . In addition to a 11 other ~
~ indebtedness secured by the first lien of this mortgage, this mortgage ~
~ shall secure also and constitute a first lien on the Mortgaged Property ~
~ for a1Z future advances made by the "Lender" to the "Borrawer" for any ~
~
= purpose within five years fram the date hereof to the same extent as if ~
such future advances were made on the date of the execution of this ~
y~ mortgage. Any such advances may be made at the option of the "Lender".
- The total amount of the indebtedness referred to in the first sentence
= of this paragraph that may be secured by this mortgage may increase or
= decrease from time to time, but the total unpaid balance of such indebted-
3 ness secured at any one time by this mortgage shall not exceed the prin-
~ cipal amount stated in the promissory note secured by this mortgage,
plus interest thereon and any disbursements made by "Lender" for the pay- -
ment of taxes, levies or insurance on the property encumbered by this ;
mortgage, with interest on such disbursements. ~
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