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18. It is specifically undpr~to~d that the MortRaRor ahall have the riRht to ptepay
the amount due I~eTPUnder~ ~r any i+octior thereof, at any time. in muttlples of
tl~•• monchly payment stipulaced in the pro~i~~ory aote secured by this MortgaRe
deed~ hovever as may be ltmited by the te~ca~ of said promissory note.
29. The abstract of titlc ~•~v~rinR the encumbered ptoperty shall r esain in the
possession ~f SMA d~~~i~~ th~ lien of this Ibctgsge, atW afcer fo~eclosure it
shall become the pranortv ~f SMA.
20. That it is the intenr h~r~nf to aecure payaent of the t~ote hereln described,
vhether the fult amrn~nc ~i,~r~of shall have been advaacera to the MortRagor at
the date hereof, ~r ~t latpr date; the lbrtgagee msy, st the sole option of
~ the MortRagee, from timc• t~ time befare the pay~ent of all indebtedness secuYed
hereby, make furtheT advances to the Nortgagor, vhich advances shall be like-
wise secured by thic MortRa~P; provided, ho~tever. that the total principal sum
secured herehv and remainin~ unpaid~ including any s~uch advancea, shell not a[
any time excee~d the oriRinal principal sus of note herein described.~ All advances
made pursuant io th~ prc~rioi~s sentence shall 6e made uttthin the titee li~?it
authorized by Flurida l.aw for makinR va2id future advances. Mortgap~or shall
repay a21 ~uch fur~l~nr a~iv:~nce~ vith interest ana the indebtedAess created by
virtue of such furth~•r ~dv~n~es shall be and are secured hereby. All provisions
of this MortRa~~~ apply t~~ c~~h and every further advance made pursuant to the
provisions of thi~ paraRr~ph. Nothing herein contained shall limit the amount
secured by this Morcga~c, ta the extent said amo~unt is increased by advances
made by SMA, as I~erein els~where provided and authorized, for the protection
of the securitv of
2I. Tha[ the mailinR of ~ writtPn notice of demand, addreseed to the o~rner of record
of the HortRaRed premises, directed to the said owner at the last address actu-
ally furnished cn gMA ~ or directed to the said ovner at said Motrtgaged premises,
aad mailed by the Unirc~d States mails, shall be sufficient notice and demand in
any case arisinR ~~r.dPr this instrumen[ and/or the note secured hereby or other-
vise required by the prc+vicions hereof or by law.
22. If the mortRaAed premises is other than a single family dwelling, the l~lortgagor
cuver.ants and aqrees that he ~ill, not later than thirtq (30) days after the end
of the fiscal year, furnish unto g~ a cosplete and accurate balance sheet and
profit and loss statem~nt reflectinq the Moctgagor's liabilities as well as profit
and los~ for the N~rtgaqar's business for the year i~ediately pYeceeding the end
of the Nort~aRor's fiscal year, and such balance aheet aad profit and loss state-
ment shall be prpp~re:i by a certified public accountant licensed in the State of .
Florida, ~nd shalt certiffed as being correct by auch certified public
accountant.
23. To the extent of rt~e ~ndPhtedness of the Hortgagor to SMA described herein or
secured hereby, ~s hereby subrogated to the lien or liens and to the rights of
the o~+ners and hold~rS thereof of each and every mortgage, lien or other encum-
brances on the land de~cribed herein vhich is paid aad/ot satisfied, in vhole or
in parc, ouc of ct~e proceeds of che loan described herein or secured hereby, and
the respective liens of said mortqaRes, liens, or other encumbrancea, shall be ~
I~ and the samP and ea~h n~ chem hereby is presetrved aad shall pass to and be held
~ by SMA herein as sccurity for the indebtedness to SMA herein described or here-
i by secured, to the s~mc• w~ctent that it wuld have been preaerved and wuld have
' been passed to and heQ:~ held by SMA had it been duly and regularly assigned,
E transferred. sec over and delivered bq SMA bq separate deed of assig~ent, not-
E withstandinR th~ fact rhac the saae ~ay be satisfied ard cancelled of record,
~ it being the intPnr.i~n oF rhe parties hereto that the sase will 6e satisfied
; ar~d cancelled of rPCOrA by the holdera hereof ,?t or about the tiae of the record-
€ iug of this Mnrt~a~P.-
~ 24. To pay all and singular the costs, charges sid ncpenses, including attorney's fees,
~ reasonably incurr~ or paid at any tise by g~, because of the failure of the
f IAortRagor to perform. crnoply vith and abide by each and rvery the stipulations,
i agreements, conditfnn~ anc! covenants of said pra~miesory aote and this der3, er
E either, and every such payment shall bear interest at the rate of tea (lOx) peT'
; cent, per annum.
25. It is specifically ~s:rced that time is the essettice of this contract and that no
~ vaiver of any ohliQati~n hereunder or of the obligation secured hereby shall at '
~ any time thereafter be held to be a waiver of the ter~~ hereof or of the instT~ent ~
eecured herehy.
26. That no extens[on of t,r~e timp or modificarion of the ter~~ or paywent hereinabove,
j acd no release of any part or parta of the wortgaged prsises shall release,
F relie~ve, or dischar~;e the Mortgaqor fro~ the pay~ent of anq of the auas herebq
~ secured but in such Pvent the Mortqagor shall nevertheless be Iiable to pay such
; suss accordinR to thN terma of such actewion or eadification unlesa apecifically
~ released and discharRPd in wrttinR by SMA acd furthar~ure, th~t acceptance
of part ~aysent ot any install~ent of priacipal os intere~t, or both, or of part
perforsance of any ~~vrn~nt or delay for any petiod ot tist in e~cercisinR the
; option to mature rhe encire debt, shall not operate as a wiver of the riRht to
~ esercise such opcto~ c,n account of such default, partial acceptance or any sub-
~ •equent default. `
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