HomeMy WebLinkAbout2076 payable. If such monthly payments beco~e due at
a time when the tax rate shall not have been fixed,
the monthlv p ayment shall be estimated on the basis
of the.tax for the precedin~ year applied to the
. most recent a~sessed valuation. If the tax when paid
varies from the tax as esti~ated in accordance with
the precedin~ sentence, (i) any excess arising from
said monthly payments shall be retained by ~he
t•",ortga~ee to be applied in reduction of subsequent
monthly payments and (ii) any deficiency in the amount
of such monthly payments below the tax as fixed shall
be ~aid to the Diortga~ee on demand.
25. The T?ortga~ee is also the owner and
holder oP the fo2lowing:
1. Leasehold mortgage nade bS% Kimco of
Lauderdale, Inc. (for~r~er2~~ Yirr_ct~ of
Florida, Inc.) as "'ort~agor, to The
Boc~ery Savings Bank, as I':or~~a~ee,
dated ~;arch 20, 1969, recorded F~Tarch
28, 1~69, in 0. R. Book 378, Pa~e
16~t , Lake Countp , Florida, covering
premises knoc,rn as 14th Street, U. S..
Highvray #27, Leesburg, Lake County,
Florida; and
2. i:ort~a~e made b,y Commercial Develooers
. of Bradenton,Inc. , as t~ort~a~?or to The
Kimco Cor~oration, as i•:ortgagee, dated
October 24, 19E7, recorded October 26,
1967, in~0. R. Book 339, Pa~e 528,
t"anatee County , Florida, covering
premises located at L2keside Shopping
Plaza, Cortez Road and 24th Street,
Bradenton, rianatee Countv, Florida,
It is understoad and a~reed to by the parties hereto
that the occurence of a default under either one of
the said two mort~a~*es or hereunder shall or may be `
deer~ed to be a default under the terr~s of all three
r~ort~;a~es 2s thou~h the sar;le ti~ere specifically set
forth in Article 21 hereof, givinp to the '~ort~:a~ee _
any and all ri~hts and nrivile~es which it has under
l11~ BO~K~~O F,~GE~O~~
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