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18. It is specifically undpr~t~nd that the MortRaRor ahall have the riRht to prepay
the amount due I~erPUnder~ ~r any portion thereof, at anq time, in muittples of
~ tl~•• moRChly payment atipulated in the pro~is~ory note secured Dy this MortgeRe'
deed~ hovever as may be ltnlted by the ter's of said promissory note.
19. The abstract of title ~•ov~rlnR the encumDeted pTOperty shall r eeain in the
possesgion of SMA d~~cin~ th~ lien of this tioctgage, and after foTeclosure it
shall becane the pruncrtv of SMA.
20. That it is the intenr h~r~nf to Qecure payment of the note herein described,
vhether the fult ~m~„nt th~r~of shall have been advanced.to the MortRagor at
the date hereof, ~r at later date; the~Mortgagee may, at the sole option of
the MortRagee, from timc• t~ ttme before the paystnt of all indebtedness secured
hereby, make further advances to the Nortgagor, vhich advances shall be like-
vise secured by this MnrtRaRp; provided, hov~ver~ that the total principal sum
• secured herebv and remainin~ unpaid. including any such advances, shall not at
any time exceed the oriRinal principal su~ of note herein described. A21 advances
made pursuant fo chP pre~riot~s sentence shall De e~ade within the time limit
authorized by Flurida l.av for makinR valid future advances. MortgaRot shall ~ ~
repay all ~uch f~irtlihr adv:~nces vith interest and the indebtedness created by
virtue of such furth~•r advan~es shall be at~d are ~ecured hereby. All provisions
of this HortQa~~~ apply t~~ cach and every further advance niade pursuant to the
provisions of thiti paraRr~ph. Nothing herein contained shall limit the amount
secured by th~s Mortg~ge, to the extent said asount is increased by advances
made by SMA. as I~erein els~vhere provided and authorized, for the protection
of [he securitv of $~yp.
21. That the mailinR of ~ vri[tPn notice of de~mand, addressed to the ovner of record
of [he MortRaRed premi~ec, directed to the said ovner at the last address actu-
ally furnished tc+ SMA . ~r directed to the said ovner $t said Mortgaged premises,
and mailed by the Unir~d States mails, shall be sufficieat notice and deseand in
any case arisinR undvr.this instrument and/or the note secured hereby or other-
wise required by th~ prc~vicions hereof or by law.
22. If the mortRaRed pre~niseS ic other than a single family dwelling, the Hortgagor
covenants and aqrees thac he will, nc/t later than thirtq (30) days after the end
of the fiscal year, furnish unto SMA a cosplete and accurate balance sheet sAd
profit and loss st~tem~~nt reflectinq the Mortgagor's liabilities as well as profit
and loss for the ltnreg~qor's business for the year i~ediately preceeding the end
of the Hor[RaRor's fiscal year, and auch balance aheet and profit and loss state-
ment shall be preparecf by a certified public accountant licensed in the State of
Florida, ~nd shall be certified as being correct by such certified public
accountant.
j 23. To the ext~nt ~f rhQ ~ndPhcedness of the Mortgagor to g~ described herein or
I secured hereby, $MA ~s hereby subroRated to the lien or liens and to the rights of
~ the ovners and holders thereof of each and every mortgage, lien or other encum-
~ brances on the lan~t described herein which ia paid and/or satisfied, in whole or
in part, out of t1~e proceecis of the loan described herein or secured hereby, aAd
the respective liens of said mortRaRes, liens, or other encumbrancea, shall be
and the samP and eacn o~ rhem hereby is preserved and shall pass to atd be held
by SMA herein ~s sccur~cy for the indebtedness to SMA herein described or here-
by secured, to the s~m~~ P~ctent that it wuld have been preserved and ~uld have
been passed to and t+ee:~ held by SMA had it been dulq and regularly aeaigned,
transferred, set over and delivered bq SMA by separate deed of ass3gnment,. not-
vithstandinR thN fact that the same say be satisfied snd cancelled of record,
it being the intenr.i~n of [he parties hereto that the same will be satisfied
and cancelled of rPCOr~i by the holders hereof at or about the tiae of the record-
ing of this Mk~rt~a~P.
24. To pay all and singular the costs, charges a~ expenaes, including attorney's f ees,
reasonably incurr~i or paid at any time bq g~, because of the failure of the
• MortRaqor to perform. c~mply vith and abide by each and tvery the atipulations,
- agreements, conditinn~ and covenants of said prasissory note and this dee.~. er
either, and every such payment shall bear interest at the rate of taa ~lOX) Per-
A cent, per annum. ~
~ 25. It is specifically ~~:rced that time is the essence of this contract atd that no
~ vaiver of any ohli~a~i~n hereunder or of the obligation •ecured hereby shall at
any time thereafter be held to be a waiver of the ter~~ hereof or of the inetru~ent
~ secured herehy.
26. ?hat no extens[nn af ct~e timP or modification of the tens or pay~ent heteinabove.
and no release ef any part or parts of the aortga.ged prsises shall release,
relicve, or dischar~;e the Mortgaqor froe the pay~ent of any of the su~s herebq
secured but in such Pvent the Mortqagor shall ne~rertheless be liable to pay such
suas accordinR to thN rerm4 of such ncte~ion or ~odification unless specifically
released and diach~rR~i in vritin~ by SMA and furthersor~, that acceptance
of part pay+~ent of any inscallsent of priincipal or intere~t. or both, or of part
perforsance of any c~v~nant or delay for any period of tiae in eo~ercisinR the
option to uature rhe entire debt, ahall not opesate as a vaiver of the riRht to
esercise such optlon on account of such default, partial acceptance or aey sub-
•equent default.
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