HomeMy WebLinkAbout2303 ;he party of the second part further agrees that in the
event that this property is sold, this mortgage shall become
due a~d payable. In the event that the mortgagor sells or
hypothecates the majority of its capital stock this mortgage shall
become immediately due and payable.
The part}- o£ the second part further agrees that during
the period of this loan, it shall not recapitalize, pay dividends
sell or acquire assets, increase salaries, other than in the
ordinary course of business ~uring the existence of this mortgage
and in the event said corporation does so, the owner and holder
of the mortgage shall be entitled to declare the same due and
pa}-able.
; The party of th~ second part further agrees that the
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~ ~iortgagor shall maintain the grove in a good husbandr}•-like manner,
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~ fertilizing and irrigating the same when necessary, according to
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~ reasonable husbandr}~ standards.
i
r The party of the second part is the owner and holder of
the premises covered by the lien; and acknowledges that there are
no defenses to said mortgage or to the debt it secures. When
£ the terms and provisions contained in the note and mortgage in
~ ~ anv ~~ay conflict with the terms and pro~~isions contained in this
Agreement, the terms and provisions herein contained shall prevail
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~ and a:, modified by this Agreement the note and mortgage is hereby
ratified and confirmed.
~ This Agreement shall be binding on the successors and
assigns of the respective parties hereto, and shall be interpreted
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un~er the laws of the State of Florida. . ~
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; II~ H`ITNESS WHEREOF the parties have hereunto set their ~
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_ hands and seals on the date aforesaid. ;
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