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Home My WebLink About2898 i f ~ e 18. It is sp~riflcally under~toc~d th~t the riortRsAor st~all have the riRht to prepay the a:n~~int due l~erE•under. ~r an~ rortion thereof, at any tisae, in muttiples of tl~•• mont?~ly plytnent stipulated in the promiesory note aecured by this NortgaRe d~ed~ t~ovever a9 ci.~y bc~ linited hy the teras of said promissory note. 14. 7he abs[zact of titlc ~•~v~rln~ the enc~bered property shall reinain in the possessian ~f SMA dtirin~ thr lten of thia Mortgage, and after foreclosure it sh311 beco:r.e the pr~?~~Tty of S~A. 20. That it is the intPnr h~trnf to secure payment of the note herein described, whether the full anrn~nt th~r~•~f cl~all have been advenced to the HortRagor at the dste hereof , ~r :~t lat~r date; the Hortgagee rr.ay, at the sole option of the Mort~agce, from timc• t~ tine before tha paytneat of all indebtedness secured herehy, make further ~dvances to the Hortgagor~ which advances shall be like- uise secured hy thic No:tga~c~; provided, ho~+ever, that the total principal sw-n secured hereby ard rer..ainin~ unpaid~ including any such advances, shall not at any time exceed the orlRinal princip~l sum of not~ herein'described. All advances made pursuant to thP prc~ri~~~s s~lntence shall be made o?ithin the time limit authorized by Florida l.aw for makinR valid future advances. HortgaRor shall repay all such f~~rrl~~r a~v:~ncPS with interest and the indebtedness created by virtue of such furth~•r advanres shall be and are secured hereby. All provisions of this *fortRa~~~ ap~ly t~~ esch and every further advance u~ade pursuant to the provisions of thi; paraRraph. Nothing herein contained shall li~it the amount secured by this Martg.lgc, ro the extent said amount is increased by advances ~ u~ade by S~L~, as herein elsc~vhere provided and authorized, for the protec[ion ~ of [he s~~curitv af g~. 21. That the c~ailin~ of a~.Titten notiee of demand, addr~ssed to the owner of record of [he Mor[~a~ed Frer~ises, directed to the saia owner at the last ad~ress aciu- ally furnished tn g~ ~ ~r directed to the said owner at said Mortgaged pr ~aises, ~n3 nailed by the Unired States mails, shall be sufficient notice and de~and in i any case arisinR ur.dvr this instrument ar.d/or the not~ secured hereby or other- ~ wise re~uired by the pr~vicions hereof or by lav. 22. If [he mortRaRed pre:nis~~ ic other than a single family ds~elling, the Hortgagor ~ covenants and a~rees th:~t he vill. no[ later than thirty (30) days after the end of the fiscal year, furnish unto S~ a complete and accurate balance sheet and profit and loss statem~~nt reflect3nR the Hortgagor's liabilities as well as profit and loss for the M~rtgaqor's business for the year immediately preceeding the end ~ of the MortRaRor's fiscal year, and such balance eheet and profit and loss state- ment shall be prpp.~re:i by a certified public accountant licensed in the St~~te of ~ Florida, 3nd shall ye c~rtified as being correct oy such certifted public 'rt?~ `4~Y~~~r' ' accountant. ~ 23. To the extent of r1~e indPhre~ness of the H~rtgagor to SMA described"herein or~ secured hereby, S;~ ~s hereby subrogated to the lien or liens and to the righ s of ! the o•.mers and holders thercof of each and every mor[gage, lien or other encunr ~ brances on the [anci de~crit~ed herein vhich is paid andlor satisfied, in vhole or ~ in part, out of the pr~ceeds of the loan described herein or secuzed hereby, and ~ ` the resp~ctive liens of said r~ortRaRes, liens, or other encuobrances, ehall be ~ ~ artd the samP ~n~ ea~h o~ rhem hereby is preserved and shall pass to and be held ~ ~ by SMA herein ~s sccurity for [he indebtedness to StiA herein described or here- , by s~cured, to the samc• P~ctent that it w~ould have been preserved and woald have been passed to and h~e.~ held by SMA had iL been duly ar.d regularly assigned, transferred, set over and delivered by SrtA by separate deed of assigament, not- withstandin~ th~ fact that the same may be eatisfied and cancelled of record. ~ it being the in[enti~n sf rhe parties hereto that the sane vill be satisfied ~ and cancelled of rPCOr~i by the holders hereof at or about the tiat of the r~cord- ~ ing of this M~rt~a~e. 24. To pay all and sin~ul~r the costs, charges a:~d expenses, including attorney's fees. ~ reasonably incurrPd or paid at arry time by gr~, becauee of the failure of the ~ MortRaqor to perform. c~mply vith and abide by each ar.d every the sti~ulations, ~ ~ agree~ents, conditinns and coven~nts of said p:o:flissory note and this dee~, er } either, and every such t~ayment shall bear interest at Lhe rate of ten (10~) Per- cent, per annum. ~ 25. It is specifically ~~;rce:l chat tir~e is the essenc~ of this contract and that no ~ waiver of any oh1iR.~ri~n hereunder or of the obligatian secured hereby shall at ~ anq tisse thereafter bP held to be a vaiver of the terma hereof or of the instruaent secvred hereby. ; 2b. That no extensi~n of t,~~c timP or modification of the tervs or pa}rment hereinabove, and no release of any part or parts of the cortgaged presises shall release, relieve, or dischar~;e the Hortga~or frrna the paymant of any of the eums hereby eecured but in such ~ven[ the HortRagor shall nevertheless be liable to pay such a~ne accordinR to th~• cerms of such extension or madification unl~s specifically released and discl~arRPd in vrttinR by SMA and furth~zrsore. th3t acceptance of part payroent ot any installmen[ of principal or int~rest. o: both. or of part performance of any ~~v~•n~nt or delay for any period oi tla~ in exercisinR the option to irature chr e~tire debt, shall not opztats ag a vaiver of the riR:~t to e~ercise such option nn account of such d~fault, partial accep[ance or any sub- aequent defau2t. ~ 4 BUOK ~O'4 aAGE ~tJ~~ ~ 5 ~ ' ` : - - - -~r ~ _ ~ : -~a~ ; r