Loading...
HomeMy WebLinkAbout0579 ~ i ~ k ~ ~ I i , i , If default ahall be a~ade in the paqment of any interest on the said ~ ~:bonda hereby secured as and when the eame ehall become due and payable, or j ~ i ~in the observance or performance of any of the covenants, agreements or coa- ; ~;ditions in the said bonda or herein on the part of the Church contaiaed, and ! I ~~such default shall continue for six (6) monthe, or if any default shall be ~ i; E '~made in the payment of the principal of any of the said bonds as or when the ~ i; } '~same ahall become due and payable, then and in either of aay such events, the ; ~ ~ 1 i`holder or holders of one-half in amount of the said bands then outstanding may ~ ! ;'by depositing their bonds with the Trustee and by an instrument or instruments i E ;;in writing sfgned by them and addressed and delivered to the Trustee declare ~ - i~ ~ i~the principal of all the said bonds due and payable, and may also request the ~ i! i iTrustee to proceed forthwith to enforce the sums hereby secured; and upon such ~ !~declaration being made, the principal of all the said bonds then outstanding ''shall forthwith become due and payable, anything therein or herein to the ;:contrary notwithstanding, and the Trustee shall (upon receiving proper indemnity)i i ~~proceed forthwith to enforce the rights of che bondholders hereunder by entry ; `=and/or sale, or both, or to file suit in a court of competent jurisdiction for ' ~:enforcement of the terms of the Deed of Trust, according to auch request; pro- ~ ;~~vided, always, that it shall be lawful for the Trustee at any time or times. ; ~ ~~upon the occurrence of such default as aforesaid and without any such request. ; : to proceed to enforce the rights of the said bondholdera by any ~f the aforesaid ~ ' - 1 ; ' remedies or in any other manner as the Truatee, being advised by counsel learned ! ! ' ~ i ~ ' in law, shall deem for the best interest of the said bondholder. ~ In the event of any such default as eforecaid, in addition to the ~ ~ ' ~ ~ `'other remedies herein provided, all of which remedies shall be cwmulative~ i ~ ; and not exclusive one of the other, the Trustee and his succeasor or successors ~ ~ ~ ` ~ ~ ~ , are hereby authorized and fully empawered to sell the eaid mortgaged premises ~ I at public auction at the Courthouse in St. Lucie Coua~tq,Florid4 , first ? , ~ ~ ~ ~~giving notice of the time and place of such sale as required by law, and upon ` ; ~ : such sale~ to convey and transfer the property and premises hereby m~rtgaged i J ~ ~ to the purchaser or purchasera thereof by good and sufflcient deed or deeds in ` ~ . , ~ fee simple and absolutely free from all right or claim of equity or redemption j ' ~ , y. ~ ; ~ ~ of the Church, and without liability upon the purchaser or purchasera to aee ~ ,;to the application of the purchase money, and to apply the proceeds of auch ~ i 1 ~ sale as follows, to-wit: i ~ -IZ- i ~ ~ ~ , ~ ~ ~ ~ ~ ~ I ~ ~ ~ i _ ; . _ . _ ~ _ ~ "4'°<,., c.z. _ . -'"~~s~' - - `y .;~a'r-~-~`^ - - ~ _ :