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18. It is specifically undPr~ta~d that the MortRaRor ahall have the riptht to prepay
the amount due l~erpunder~ ~r any portion thereof, at any time, in muttiples of
ti~•• moRthly payrsent 4tipulated i~ the prorissory note securrd by this MortgaRe
deed~ ho~ever ae may be li~ited by the ter~~ af aaid promisaory note.
19. The abstract of title ~•ov~rl~R the encuabered property shall remain 1n the
possesaion of SMA d~~rin~ th~ lien of this tlortgage, and after foreclosure it
shall becane the prun~rty ~f SMA.
20. That it is the intent h~r~~f to secure paqment of the note herein described,
whether the fult amn~~~t ~h~ro~f chall have beer advanced to the MortRagor at
the date hereof, ~r at .i l~ter date; the Morigagee msy, at the sole option of
the NortRagee, from timr tn time before the pay~ent of all indebtedness secured
hereby. make further advances to the ?brtgagor-, vhich advances shall be like-
wise aecur .py thi4 M~rtRa p; provided, ho~rever~ that the total principal sum
secured he~' ~nd ~e"tn~ii~r~~~npaid~ including anq such advances, ahall not at
any tiue exceed the ari~inal~principal su~ of nete herein described. Al1 advances
made pursuant to rhP~,prriio
4 sentence shall be aade t+tthin the time lia~it ~
authorized by Florlda l.av for mr~kiaR valid future advances. IbrtgaRor shall
repay all such f»rttic~f ~adv~~ncec with interest and the indebtedness created by
virtue of such furth~•r advan~es shall be and are secured hereby. All provisions
of this MortRa~c~ ~pply c~ cach and every further advance made pursuant to the
provisions of thi; paraRr~ph. Nothing herein contained sha11 Iimit the aaaunt ~
secured by this Hortg~gc, ro the extent said asount is increased by advances '
made by S~, as t~erein elsewhere provided and sut~iorized, for the protection
of the securitv of g~.
21. That the mailinR of a vritten notiee of demand, addressed to the owner of record
of the tiortgaged premises, directed to the said owner at the last address actu- ~
.ally furnished t~ SMA . or directed to the said oi+ner at said Mortgaged prenises,
and mailed by the Unired States mails, shall be sufficient notice and demand in ~
any case arisinR u~dvr this instrument and/or the note secured hereby or other- s
vise required by the pro~~isions hereof or by law. '
22. If the mottRaRed pre~ise~ is other than a single fa~aily dwelling, the ?lortgagor
covenants and aRrees thac he vill, not later than thirtq (30) days after the end
of the fiscal year, furnish unto g~ a cosplete at~d accurate balance sheet and
profit and loss st~tem~nt reflectinR the Mortgagor's liabilities as well as profit
and loss for th~ Moreg~qor's business for the. year issediately preceeding the end
of the Mortgagor's fiscal year, and auch ba2ance sheet and profit and loss atatr
ment shall be prepare~f by a certified public accountant licensed in the State of
Florida, a»d shall bc certified as being correct by such certified public
accountant.
23. To the extent of r1~e indPhtedness of the Mortgagor to gMp described herein or
secured hereby, $~p is herehy subrogated to the lien or liens and to the rights of
the owners and holders thereof of each and every mortgage, lien or other encum- ;
bzances on the Jand described herein which is paid and/or satisf ied, in vhole or
in part, our of tl~e prncepds of the loan described herein or secured herebq, and
the respective liens of said mortqaRes, liens, or other encumbrances, shall be -
and the samp and ea~b ~F ~hem hereby is preserved and shall pass to and be held - ;
by SMA herein as sccurity for the indebtedness to SMA herein described or here- ~
by secured, to the s~mc• ~ctent that it wuld have been preserved atd wuld have ~
been passed to and hee:~ held by g~ had it been duly and regularly aesigned,
traasferred, sec over arui delfvered by SMA bq separate deed of assignment. not-
vithstandin~q thP fact that the saae nay be satisfied and cancelled of record,
it being the intenr_ir~n of the parties hereto that the saae will be satisfied
and cancelled of rc~corA by the holders hereof at or about the tiae of the record- - '
ing of this Mc~rt~a~e. ;
24. ?o pay all and singular che costs, charges and eacpenses, fnc2uding attorney's feea,
reasonably incurr~i or paid at arry tise bq S~, because of the failure of the
Mortgagor to peiform, crnnply vith and abide bq each atd everq the stipulations.
agreesents, conditinns wrxi covenants of said praeiseory note and this dec3, er
either, and every such payment shall bear intereat at the rate of t~ (ipx~ per-
cent, per annum. -
25. It is specificaily ~y;rceA chac time is the easence of this contract and that no ;
waiver of any ohliRation hereunder or of the obligation secured hereby shall at °
any tiae thereaf ter be held to be a uTSiver of the . ter~s hereof or of the instru~ent
stcured hereby. ~
26. ?hat no extensian of tt~~: timP or modification of the. terss or paqaient hereinabove. ~
atd no release ef any part or parts of the aartgaged prsises sha11 release,
relieve, or dischar~;e the Mortgaqor fro~ the payrent of any of the auas hereby
secured but in such Pvent the !~(ortgagor sha12 nevertheless be liable to pay such
av~s according te th~ ~erms of such ente~r ioa ot sodification vnless specifically
released aM diw~harRPr1 in vritlaR by SMA and furthess~re, that acceptance
of past psy~ent ot any installaent of priACipal or intereat, or both, or of part
perfonsance of any ~~vrnant or delay for any period of tLe in acercisinR the
option to uature rhe entire debt, shall not operate as a vaiver of the riRht to
acercise such optl~n ~n account of such default, paYtial acceptance or any sub-
aequent default. '
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