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18. It is specifically undPr~co~d that the MortRaRor shall have the riRht to prepay
the .3mount due l~erPUnder. Rr any ~+ortion theseof, at any time, in muiclples of
tl~•• mo~thly paynent 4tipulated in the pro~i~sory note secured by this MortgaRe
deed~ however as m.~y be limited by the ter~~ of said promissory note.
19. The abstract of ti~le ~•~v~rtnR the encumbered property shall resain in the
possesaion ~f SMA d~~rin~ th~ lien of thia Mortgage, and after foreclosure it
shall aecon+e the pr~~ncrtv of SMA.
20. That it is the intenr h~t~nf to gecure paquent of the note herein described,
vhether the full am~nnt ~I,~r~c+f chall have been advanced to the MoTtRagor at
the date hereof, ~r ~t later date; the Mortgagee may, at the sole option of
the MortRagee, from timc• t~ time before the psqeaent of all ir~debtedaess secured
herehy, make furthet ndvances to the Mortgagor, vhieh advancoa shall be lil~e-
wise secured by thic MATtRA~+P; provided, hoWCVer, that the tdtal principal sum
secured herebv and remainin~ unpaid, including any such advances, shall not at
any time exceed the ortRinal principal eun of note herein described. All advances
made pursuant ro th~ prc~rious sentence shall be teade vithin the time iimit
authorized by Flurida l.aw for makinR valid future advances. MortgaRor shall
repay all such f~~r~l~~~r a~iv:~nces with interest and the indebtedness created by
virtue of such furth~•~- ~dv~n~es shall be atd are secured hereby. All provfsions
of this HortRa~~~ a~:p! y t~~ cach and every further advance made pursuant to the
provisions of thi~ paraRraph. Nothing herein contained shall limit the amount
secured by this Mortgagc, ~o the extent said amount is increased by advances
made by SMA, as I~erein elsc~where provided and suthotcized, for the protection
of the securitv of $~p.
21. That the mailinR of written notice of demand, addressed to the owner of record
of the HortRaRed premises, directed to the said owner at the last address actu-
a21y Eurnished t~ SMA . or directed to the said ovner at said Mortgaged premises,
aad mailed by the linirPd States mails, shall be sufficient notice and demand in
any case arisinR undvr this instrument and/or the note secured hereby or other-
vise required by thr provicions hereof or by law.
22. If the moTtRaRed preTnises is other than a single family dvelling, the Hortgagor
covenants and aqrees that he vill, not later than thirtq (30) days after the end
of the fiscal year, furnish unto g~ a complete aad accurate balance sheet and
profit and loss stwtemF~nt reflectinR the tbtrtgagor's liabilities as vell as profit
and loss for the M~reg~qc?r's•business for the year imediately preceeding the end
of the Hortqaqor's fiscal year, and auch balance sheet atd profit and loss state-
ment shall be prep.,re:i by a certified public accountant licensed in the State of
Florida, and shall ti~ certified as being correct by such certified public
accountant.
23. To the extent of rr;e ~ndPhcedness of the Hortgagor to g~ described herein or
secured hereby, ~s hereby subrogated to the lien or liens and to the rights of
the ovners and hold~rs chereof of each and every mortgage, lien or other encum-
brances on the lan~1 described herein which is paid and/or satisfied, in whole or
in part, out o~ t!~e pr~ceecis of the loan descrihed herein or secured hereby, and
the respective liens of said mortqaRes, liens, or other encumbrancee, shall be
and the sam~ and ea~h o~ ~hem hereby is preaerved and shall pass to and be held
by SMA herein ~s sccur~c~ for the indebtedness to SMA herein described or here-
by secured, to the s.+mc• P~ctent that it wuld have been preserved and would have
been passed co and hee:~ held by SMA had it been dulq and regularly seaigned,
transferred. set over an~i delivered by SMA by separate deed of assigtrment, not-
WithstandinR th~ fact that_the same ~ay be satisfied at~d canctl2ed of record,
it being the intenr.i~n of rhe parties hereto that the sase vill,be satisfied
and cancelled of rP~ar:f bv rhe holdera hereof at or about the ti~e of the record-
ing of this Mnrt~~~e.
24. To pay all and singular the costs, chargea and expenses, including attorney's fees.
reasonably incurrp~t or paid at aay? time by S~, because of the failure of the
MortRaqor to perform~ comply vith and abide by each and cvery the stipulations.
agreements, conditinn~ and covenants of said proaissory aote and this der~, er
either, and every such payment shall bear interest at the rate of tea (lOx) per-
cent. per annum.
25. It is specifically ~y:rced that time is the essence of thia cortract and that no
wiver of any oh1iQ~~ion hereunder or of the obligation •ecured hercby sha11 at
any time thereafter be held to be a vaiver of the ter~~ hereof or of the instriment
secured herehy.
26. That no extens[~n of t,r~e cimp or modification of the ter~s or paya~eat hereinabove.
and no release of any part or parts of the w~rtgaged prsiees shall release,
re2lrve, or discharc;e the Mortgaqor fro~ the paq~ent of any of the suas hereby
secured but in such Pvent the Mortgagor ahall nevertheless be liable to pay such
suss accordinR to thN rermg of such exten~ion or ~odification unless specifically
relea~ed and dia~I,~rRPd in vrttinR by SMA and furthestore. that acceptance
of part paysent ot any install~ent of principa2 oT intersst, or both, or of part
perforsance of any c~vrnant or delay for any period of tiae in axercisinR the
option to mature ~he entire debt, shall not operate as a w iver of the riRht to
exerciac such opti~n on account of such default, partial aeceptance or any eub-
sequent default.
5 s°o x 2~s Q?ticr ~~7~
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