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ac~re~:3 that t~ie holder o~ such indebtedness is under no ar~li~~ation
to so do, exczpt at its own election, and failure on the part Qf
surh h~lder to take ar~y action hereunder shall not constitut~ a
waiver ot furth~r k~reaches of such covenants; it is further cover~-
anted ar~c3 aqreer3 by th~ said Mortyagor that he will not mine or
~~use, authori±e ar per^~iL- any Tininq of phosphate, limerock,
: i~~estone, cl.jy, Gand, oil, petroleurr, or any other mineral on the
la-~ds s~-~cured ~~y this ~nortgage without the prior written consen*_ o~
ttie ~~ort~agc:e ar.d any violation of this covenant shall give the said
~iortqa~aee tre op~ion to declare a default on said n.ortgaqe and
accele~rate the principai ~alance du~ on the note hereby secured,
tocrether ~.~i'_-t~ any other riqhts in case of defauit as otherwise
pro~.~ide,? in t:~is instrur~ent, provided, however, that nothing con-
tainec? herein snall prohirit and restrict Hortga~~or Fron developinq
the al~ove d.=~scri.i~ed property for residential or cor~r,lercia2 purposes
and re~ovinc7 ali or portions o= said qrove in the course o~ such
d~vc~lop-,;e?it .
7. To per:or<<:, co:~~oiy with, and abide r~~~ each and
a_v~r~~ t~~e sti~ulatio_~s, aaree:~~ents, conditions and covenants in
said pr~~: i~sory not~}, anci in this deed set forth.
~3. If ~n~~ of sa id su~ ~ of :,.oney herein re Ferrec3 to
t e nc~t oro- ptiv and `uliy paid with~n 30 c~ays next after the sa,~e
sever3l:i~~ 1,eco~~e du.~ an:i payak;le, or if each and every the stipula-
tior.s, z:-rr~e< :~nts, conditior.s ard co~,renants of said pro~issory note
ar.~3 thi_~ :~~er', or .~ither, ar~ not fully perrormed, co::•plied with
' and abic~c~ the said aqc~regate rum :r.entioned in said pron:issory
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~ote shal3 ~-~eco~~e due and nayable Forthwith or thereafter at the
; ogtion of t~~P '~ort ia~ee, its successors, ieydi te~ie5c~ii.a~ivGs ;;i
" assign~, a~ f"Zly and cor;~pletely as if the sai.d aggregate sum of
; 5994,0{~0.0~ ~.,~er~~ originally stipulated to be gaid on such day,
s a~~~~+~hinc; i~ said pro:--issory note or herein to the cor.trary notwith-
~ s~andin:r.
; In t`ze e~~ent that at any t i::~e dur inq the ter;,. of
` t~ii~= ~-ort }a_3E any portion o~ the property e ncu~~bered by the lien ot
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~ thi:~ ^or~;a.1e, is taken tnrough conder~n~tion or e:r:inent dom.ain proceed-
_ ~^c~s, or ky co:- pro~:ise or negotiated settlement in connection therewith,
; ~r. t y a~:r• si:• ilar artion b,,- any fed~ral, state, county, municipai or
: ~t:z~r ~;o~~er ental authority and a>>y sun~ or sur.s are paid to Mortgagor
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~ as ~ r=~s~~Ir of s~:ch actions ]~~y any federal, s~ate, county, municipal or
x othnr ;o~~ernmental authority, Mort7agor shall pay to Hortqaqee an
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a~~ ot::,L ~"*l;a i to ~eventy-one per cent (71y) of the su:-s received as an
a•.,ard :•:hich is corrper.sation for the property encuml ered by this mort-
= qagA. If ~he *_otal amount of the award or awards received ~y Mortgagor
~
i:~~-lu~~~js co -pensation for gropert}~ other than property encurbered by
the ~i~» of this r. ort~~age, then `~iortqaqee ~~ill r~ceive the above per-
t ce~~.ta::~ c= oni}~ that proportiorate part of. the award which is attribut-
arle t~ th~~ croperty encu,^Y~ered 2:~~ this :nertgage. The proportionate amount
s
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SNUTTS 3 BOWEN, ATTOQNEYS-AT•LRW, MIAMI, FLORIDA _
(305) 358-6300
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