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18. It is specifically undpr~to~d that the MottRaRoT shall have the tiRht to prepay
the amount due I~errunder~ c?r any rortior theteof, at any time, in muitlples of
t1,•• monchly payment atipulated in the pra~i~aory note secured by this Mortgaqe
deed~ hovever as awy be 11m1ted by the ters~ of said proaisaory note.
19. The abstract of title ~•ov~rlnR the enc~mbered property shall re~ain in the
possession of SMA d~~~in~ th~ lien of this ?brtg~ge, and after foTecloaure it
shall becane the prupcrty ~f SMA.
20. That it is the intenr h~r~~f to secure payeent of the note herein desctiDed,
vhether the full ~m~~~nt ~h~r~of chall have Deen advanced to the MortRagor at
the date hereof, ~r at later date; the ltortgagee may, at the sole option of
the MortRagee, from cimc• t~ time before the paysent of all indebtedness secured
herehy, make further ndvances to the 2tortgagor, which advances shall be like-
vise secured by this Mc~rtRaRe; provided, however~ that the total principal sum
secured hereby and remainin~ unpaid~ including anq such advances, ahall not at
any time exceed the ariRinal principal sw of note herein described. All advances
made pursuant to thP prcwioe~s sentence shall be made ~rithin the tise limit .
authorized by Florida l.av for makinR valid future advances. liottgaRor shall
repay all ~uch f~~rnc~~r adv:~nce~ wtth interest and the indebtedness created by
virtue of such furth.~r adv~n~es shall be and are Qecured hereby. All provisions
of this HortRa~~~ app~y to c3ch and every further advance taade pursuant to the
provisions of thi; paraRr~ph. Nothing herein contained shall limit the amount
secuYed by this Mortgag~, fo the extent aaid a~ount is increased by advances '
made by SMA, as I~erein elsevhere provided and authorized, for the protection
of the securitv of
21. That the mailinR of a writtpn notice of demand. addreseed to the ovner of record ~
of the HottRaRed premises, directed to the said ovner at the last addreas actu- '
ally furnished t~ SMA . or directed to the said ovner at said Mortgaged preoises,
aad mailed by the Unired States mails, shall be sufficient notice and de~and in
any case arising undvr this instrument and/or the note secured hereby or other-
wise required by thN prc+vicions hereof or by law.
22. If the moTtRaRed prewises is other than a single faa~ily dvelling, the MortgagoY ~
covenants and aqrees [hat he vill, not later than thirty (30) days after the end ~
of the fiscal year, furnish unto gMA s cosplete atd accurate balance sheet and ~
profit and loss statem~~nt reflecting the tiortgagor's liabilities as vell as profit •
and loss for the !~1c,resaRor's business for the qear i~ediately preceeding the end
of the !lortqaRor's fiscal year, and such balance sheet and profit and loss statr
ment shall be prepareci hy a certified public accountant licer?sed in the State of
Florida, and shalt 5e certified as being correct bq such certified public
accountant.
23. To the extent of rl+~ indPh~ednesc of the Mortgagor to g~ described herein or
I~ secured hereby, $MA ~s hereby subrogated to the lien or liens and to the righte of
i the owners and holders thereof of each and every mortgage, lien or other encu~- ~
i btances on the Jand described herein ~rhich is paid and/or satisfied, in vhole or. -
in part, out of tl~e proceeds of the loan described herein or secured herebq, and ~
the respective liens of said mortRaRes, liens, or other encusbrances, shall be ~
~ and the samP and eac~ oF rhem hereby is preserved and shall pass to and be held
by SMA herein ~s sccur i cy for the indebtedness to SMA herein described or here-
~ by secured, to the s~+mc• P~ctent that it vould have been preserved and wuld have
been passed to and hee:~ held by SMA had it been dulq and regularly assigned,
transferred, sec over and delivered by SMA bq separate deed of asaignsent. aot- ~
vithstandinR thN fact that the se~e say be satisfied atd cancelled of record,
it being the intPnr.inn of the parties hereto that the sase will be satiaf ied
and cancelled of rpcor~i by che holdera hereof at or about the tiae of the record-
ing of this Mnrt~a~P.
24. To pay all and singular che costs, charges aid expenses, including attorney's fees,
reasonably incurr~f or paid at atry tiae by g~, because of the failure of the
IiortRagor to perform. crnnply with and abide bq each and every the stipulations. ~
agreements, conditinn~ and coven.~+nts of said proaieeory note and this der~, er ~
either, and every such payment shall bear interest at the rate of tro (lOx) P~t' ~
cent. per annum. ~
~ 25. It is specifically Jt;rceA chat time is the essence of thi~ contract atd that no
~ v~iver of any obliQ~tion hereunder or of the obligation •ecured hereby shall at ~
~ auy tiae thereaftcr bP beld to be a vaiver of the ter~s hereof or of the insttusent ~
~ secured herehy. s
26. That no extenston of t,t~e tiap or modification of the terss or pay~ent hereinabove, i
~ and no release of any part or parts of the fortgaged prsises ahall release,
relieve, or dischar~;Q the Mortgaqor fro~ the paysent of any of the suaa hereby ;
~ secured but in such Pvent the tbrt~agor shall neverthele~s be liable to pay such
~ suas accordinR te thN rer~ns of such extetrion os ~wdification unless •pecifically
relea~ed and diACharR~i in wrttinR by SMA and furthet~ort. that acceptarce ;
of part pay~ent ol any inatallsent of principal or intarut. or both, or of p~rt ;
perforunce of any c~v~nnnt or delay for any pesiod ot tLe ir exetcisinR the ~
option to sature rhe e~tire debt, shall not operate as a wiver of tbe riRht to ~
esercise such opcten nn accoun[ of such default, p~rtial acceptance or ary sub- ~
~~quent default. i
5 ~a~ ~4 P~1553 ~
3.~ ~ F,~ ?Y ~
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