HomeMy WebLinkAbout2941 EXIIIIIIT "8"
16. ~9hen and if tdox'tgagor and 2lortgagee shall respectively become
the Debtor and Secured Party in any Uniform Commercial Code
Financing Statement affecting property either referred to or
described herein, or in any way connected ~rith the use and
enjoyment of these premises, this mortgage shall be deemed
the Security Agreement a~ defined in said Uniform Commercial
Code and the remedies for any violation of the covenants,
terms and conditions of the agreements herein contained shall
be (i) as prescribed herein, or (ii) by general law, or (iii)
as to such part of tl~e security which is also reflected in
said Financing Statement by the specific statutory consequences
now or }iereafter enacted and specified in the Uniform Commer-
cial Code, all at Mortgagee's sole election. t9ortyagor and
Mortgagee aqree that the filing of such Financing Statement
in the records normally having to do with personal property
shall never be construed as in anywise derogating from or
impairing this declaration and hereby states intention of
the parties hereto, that everything used in connection with
the production of income from the mortgaged prop~rty and/or >
adapted for use therein and/or which is described or reflected
in this mortgage is and at all times and for all purposes and
in all proceedings both legal or equitable shall be regarded ;
as part of tlie real estate irrespective of whether (i) any '
such item is physically attached to the improvements, (ii)
serial numbers are used for the better identification of ~
certain equipment capable of being thus identified in a ~
recital contained herein or in any list filed c•rith the :Iort-
gagee (iii) any such item is referred to or reflected in any ~
such Financing Statement so filed at any tirie. ~
~
17. In the event t2ie interest provisions hereof or any exactions ~
provided for herein or in the note or any other instrun:ents ~
secur5.ng the note shall result, because of (1) the annual =
reduction of principal or (2) any other reason at any time
; during the life of the loan, in an effective rate of interest
' which, for any year, transcends the limit of t;ie usury or any
; other law applicable to the loan ev~denced by the note, aIl
sums in excess of those lawfully collectible as interest for
the period in question shall, without further agreement or
; notice between or ay any party hereto, be applied u~on prin-
~ eipal immediately upon receipt of such moneys by the holder
~ of the note with the same force and effect as thougl~ the payer
° had specifically designated such extra sums to be applied to
~ principal and the holder hereof had agreed to accept sucli ex-
; tra payment (s) as a prer.liur.~-free prepayment. tlot~vithstanding
~ the foregoing, however, the holder of the note may at any time
K and from time to time elect by notice in writing to the owner
s of tlie proUerty affected by this mortgage to reduce or limit
~ the collection of interest to such sums cahic:i shall not result
~ in any ~ayments toward principal in accordance caith the re-
~ quirements of the_prec~dins~__sentence. In no event _shall_ any _
, _
agreec~ to or actual exaction ~s consideration for this 2oan
transcend tlie lir.lits imposeci or provided by the lac~ applic-
~ ab e to this transaction or tlie r.?a}:ers hereof in the juris-
~ di~ion in c~hich tl~e land is located for the use or detention
of money or for forbearance in seeking its collection.
= 24'~69
z FILED aNG KfC0~DE0
y ST. lUClf COUNtY FLA.
RO~E= ~,~TRAS
ClERK C' 3CU1T COURT
~ fiEC"v`is'r~'' ~'T~ ~
~ fee 13 2 43 PN'~3 -
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~ 600K~~O PACf~
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