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1$. It is specifically undpr~ta~d that the ?~ottRaRor ahall have the riRht to prepay :
the amount due lierPUnder~ ~r any rortlon chereof. at any time, in muitlples of
~1~•• monthly payment stipulated in the pra~iasory note eecured by this Mortgage
deed~ hoveveY as ~y be limited by the teras of esid promissory note.
19. The abstract of title ~•ov~r1~R the encumbered property shall resain in the
poasesRian of SM~1 durin~ th~ lien of this lrbrtgage, ard after foreclosure it
shall becane the pruperty of SMA.
20. That it is the intenr h~r~~f to secure payment of the note herein described,
whether the fult amnunt th~r~of ~hall have been advanced to the MortRagor at
the date hereof, or at lAter date; the Mortgagee may, at the sole option of
the MortRagee, from timc• t~ time before the pay~ent of all indebtedness secured
hereby, make further advances to the liortgagor, vhieh advances shall be like-
wise secured by thia MortRaRp; provided, hovever, that the total principa2 sum ~
secured hereby and remainin~ unpaid~ includiug anq auch advances, shall not at ~
any time exceed the ori~inal principal aus of note herein described. All advances
made pursuant ro ~hP prrrio~~s sentence shall be made vithin the time li~eit
authorized by Florida l.au for makinR valid future advances. Mortgagor shall
repay all such f~irttic~r adv;~nces With interest and the indebtedness created by
virtue of such furth.•r adv~n~es shall be and are secured hereby. All provisions
of this MortRa~P spplr to cach and every further advance made pur~uant to the ;
provisions of thi; paraRr~ph. Nothing herein contafaed sha21 limit the amouat
secured by this Mortgagc, to t~e extent eaid amount is increased by advances
made by SMA, as herei~~ els~vhere provided and authorized, for the protection
of the securitv of -
21. That the mailinR of , written notice of demand, addressed to the o~+ner of record
of the MortRaged premises, directed to the said owner at the last address actu-
ally furnished t~ SMA . ~r directed to the said ovner at said Mortgaged pre~ises,
and mailed by the Unired States mails, shall be sufficient notice and ddaaad iA
any case arising undvr rhis instrument ard /or the aote secured hereby or other- ~
vise required by the provi~ions hereof or bq law. s
22. If the moTtRaRed pre~ises is other than a single faaily dvelling, the Motrtgagor
covenants and aqrees that he will, not later than thirty (30) days after the eM t
of the fiscal year, furnish unto g~Ip~a cosplete and accurate balance sheet and ~
profit and loss st~temrret reflecting the Kortgagor's liabi2ities as well as prof it
and loss for the Moregaqor's business for the year i~aediately preceeding the end ',s
of the Mortgaqor's Eiscal year, and auch balance sheet and profit and loss state- ~
ment shall be prepareci hy a certified public accountant liceased in the State of
Florida, and shall be certified as being correct bq such certified public '
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ac~ountant.
23. To the e~ctent of rl,e indPhtedness of the Mortgagor to g~~ described herein or ;
secured hereby, is hereby subrogated to the lien or lieas snd to the rights of
the owners and holders thereof of each and every ~oztgsge, lien or other encu~-
bTances on the land describ~d herein vhich is~paid and/or satisfied, in whole or
in part, out of the proceeds of the loan described herein or secured herebq, and
the respective liens of said mortqaRes, liens, or other encunbrances, shall be ~
and the same arxi ea~A ~F chem hereby is preserved and shall pass to and be held 4
by SMA herein as sccuricy for the indebtedness to SMA herein described or here-
by sec•zred, to the samc• ~ctent that it wuld have been preserved and wuld have
been passed to and het:~ held by SMA had it been duly and re,gularly assigned,
transferred, set over ~ruf delivered by gI~1A by aeparate deed of assig~ent, not- ~
withstaadinR thP fact that the as~e ~ay be eatisfied and cancelled of record,
it being the intentinn pf the parties heieto that the saae t~till be satisfied
and cancelled of rpcorA by the holders hereof at or about the tiae of the record- ~
ing of this Nort~a~p. .
24. To pay all and singular the costs, charges and expenses, inc2uding attoraey's fees,
reasonably incurr~f or paid at any tise bq g~, becauge of the failure of the
MortRagar to perform~ cam~ly with and abide by each and every the atipulations~ ~
agrerments, conditi~ns and covenants of said promissory note and this de~. er ~
either, and every such payment shall bear intereat at the rate of t~ (lOx) per-
cent, per anrn~m.
25. It i8 specificalty ~~;rced chat time is the.easence of this contract atd that no
vsiver of any oblt~tation hereunder or of the obllgation secured herebq shall at
au~ tiae thereaftcr be held to be a vaiver of the terte hereof or of the instr~ent
aecured hereby. _
26. That no extenst~n of tt~e tis~e or madification of tbe ter~s or paysen~ hereinabove,
aad t~o release of any part or parts of the wortgaged prsises shall release, ~
relie~re, or disch~r~;e the 14ortgaqor fro~ the paq~ent of any of the suas hereby
secured but in such event che Mortqagor aha12 neverthe2ess be liable to pay such ~
su~s according to th~ rerroa of such actewion oz sodifieation unleas •pecifically
relea~ed and discharR~l fn ti,ritinR by SMA and furthes~ore, that acceptance ~
of part pay~ent of any install~ent of principal or inter~at, or both, or of part
perforsance of any cov~ru~nt or delay for any pesiod of tise in rxercisinR the ~
option to sature che entire debt, ahall not operate as a wiver of the riRht to d
ncercise such option on account of such default, partial acceptance or anq sub- ~
aequent dtfault.
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