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18. It is specifically undPr~tond that the MottRaRor ehall have the riRht to prepay ~
the amount due i~eraunder~ ~r any portlon thereof, at any tlme, in muttlples of
i~~•• monchly payment Rtipulated in the prosi~sory note secured by this MortgaRe
d~ed~ hovever as may be limited by tT?e tet~~ of said promisaory ~ote.
19. The abstract of title ~•ov~rlnR the encumbered property shall r eaain in the
possesaion ~f SMA d~~rin~ th~ lien of thid Ibrtgage, and after foreclosure it
shall becane the pruncrty nf SMA.
20. That it ia the tntenr h~r~~f to secure paynsnt of the note t~erein deacribed,
vhether the fuli ~m~unt ~t~~c~c+f shall t~sve been advanced to the MortRagor at
the date hereof, ~r at ]ater date; the Mortgagee may, at the sole option of
the MortRagee, from timc• tn time before the payoent of all indebtedness secured
hereby, make further advances to the Mortgagor, vhich advances shall be like-
vise secured by thic Mc~rtRa~p; provided, hovcver, that the cotal principal sum
secured hereb~ apd remainin~ unpaid. including any auch advances, shall not at
any;time excee~d the oriQinal principal sua~ of note herein described. All advances
made pursuant ro ChP prc•rio~~s sentence shall be a~ade within the time limit
authorized by Fluzida l.av for ~aakinR valid future advances. NortgaRoY shall
repay all ~uch f~irtl~c~r adv:~nces with interest ard the indebtedness created by
virtue of such furth~•r adv~n~es shall be and are secured hereby. 1111 provisions
of this MortRa~e apply t~~ cach and every further advance ~sade pursuant to the
provisions of thi; paraRraph. Nothing herein contained shall limit the aaaunt
secured by this Mortgagc, ta the extent said asount is inereased by advances
made by S(yA~ as I~erein elsewhere provided and auihorized, for the protection
of the securitv of
21. That the mailinR of ~ written notice of de~nand, addressed to the o~rner of record
of the MortRaRed premises, directed to the said ovner at the last address actu-
ally furnished t~ SMA . or directed to the said ovner at said Mortgaged presaises,
and mailed by the unirpd States mails, shall be sufficient notice and d anand in
any case arisinR ~~ndar this instrument and/or the note secured hereby or other-
wise required by the provi~sions hereof or by law.
22. If the mortRaRed premisec is other than a single family dvelling, the Hortgagor
covenants and aRrees th<~c he will, not later than thirty (30) days after the end
of the fiscal year, furnish unto g~ a cosplete and accurate balance shett atyd
profit and loss statem~~nt reflectinR the NortgagoT's liabilities as vell as profit
and loss for the NortgaRar's businesa for the year issediately preceeding the end
of the NortqaRor's fiscal year, and auch balance sheet and profit and loss state-
men[ sha12 be prep~re:i hy a certified public accountant licensed in the State of
Florida, and shall yc certified as being correct by such Certified public
accountant.
23. To the extent of r1~e indPhtedness of the Mortgagor to $IrIA described herein or
secured hereby, ~s herehy subroqated to the lien or liens and to the rights of
the owners and holders thereof of each and ~very mortgage, 11en or other encum-
brances on the land descrihed herein ahich ia paid atd /or satisfied, in whole or
in part, out of tt,e proceeds of the loan described herein or secured hereby, and
the respective liens of said mortRaAes, liens, or other encumbrances, shall be
and the samP and each oF ~hem hereby is preaerved atd shall pass to and be held
by SMA herein as scc~sr ~ ty for the indebtedness to SMA herein described or here-
by secured, to the s:~mc• Pxtent that it vould have been preserved a~d i+ould have
been passed to and hee:~ held hy giKA had it been dulq aad regulatly aesigned,
transferred, set over and delivered bq gI~IA bq aeparate deed of assigcnaent, ~ot-
vithstandinR th~? fact that the sa~e say be eatisfied and caacelled of record,
it being the intenr.inn oF the parties hereto that the sase vill be satisfied
and cancelled of rPCOrd by the holders hereof at or about the tiae of the record- -
ing of this lic~rt~a~e. `
24. To pay all and singular the costs, charges and expenaes, ineluding attorney's fees,
reasonably incurr~ri or paid at any tise bq g~, because of the failure of the
MnrtRaqor to perform~ crnoply vith and abide bq each and every the stipulations,
agreements, conditi~ns and covenants of said pTOSiesoty twte and this der~, er ,
either, and every such payment shall bear interest at the rate of t~ (~px~ peT- ;
cent, per annum. ;
25. It is specifically ~~;rced chac time is the tseence of this eontract and that na
~iver of any ohliRation hereunder or of the obligatioa securcd hereby ahall at =
any time thereaftcr be held to be a waiver of the ten~a hereof or of the instru~ent `
eecured herehy.
26. That no extensinn oF t,he ciAp or modification of the ters• or paywent hereinabove,
and no release ef any part or parts of the wortgaged pssiaea shall release, -
relieve, or disch~r~;e the Mortgaqor fro~ the pay~ent of any of the su's herebq ~
secuTed but in such event the Mortqagor shall neverthele~s be liable to pay such 4
suas acrordinR to th~ rerm4 of such extension or ~odification ualeas apecifically
released and discliarRPd in vritinR by SMA atd turthes~ore~ that acceptance '
of part pay~ent of aay installaent of pzincipal or lutess~t, os both, or of part
perfor~sance oi any c~v~n~nt or delay for any period o~ tiae in oceTCisinR the
option to mature che e~tire debt. ahall net operate as a vaiver of the riRht to
eserciae such option ~n account of such default, partial acceptance or any sub-
sequent default.
5 BooKzos PACE~~~U~7
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