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18. It is specifically undPr~co~d that the MortRaRor shall have the riRht to prepay
the an~ount due l~erpt~nder~ c+r any portion thereof, at a~y tLoe, in muittples of
ti~•• monthly payme~t gtipulated in the pro~i~aosy note secured by this MortgaRe
deed ~ however as awy be l imi ted by the teraa of said prosissory note.
19. T!u abstract of title ~•ov~rlnR the encusbered property shall re~ain in the
posaession ~f SMA d~irin~ th~ lien of this Mor~gage, at~d after foreclosure it
shall become the pr~~n~r t y ~f SMA . ~ .
20. That it is the inten~ h~ro~f to 4ecure paywent of the note herein described,
whether the full am~»nt ~h~c~of ~ha11 have been advanced to the MortRagor at
the date hereof, or at l~ter date; the Mortgagee may, at the sole option of
the t~lortRagee, fron~ [ imc• tn time before the payvent of all indebtedness secured ;
hereby. make further advances to the t~iortgagor, vhich advances shall be like- ~
wise ~ecur~d by_this Mort~a~P; provided, hoveroer. that the total principal sum
secured'hereby and remainin~ unpaid~ including any such advances, shall not at ~
any time exceed the ariRinal principal suw of note herein described. All advaaces
made pursuant to thP prc~ious sentence Bha21 be a~ade ~rithin the ti~se limit
suthorized by Flurida l.av for enxxkinR valid future advances. MortgaRor shall
repay all such fur~ht~r adv:~nces aith interest and the indebtedness created by -
virtue of such furth.•r advan~es shall be and are secured hereby. All provisions -
of this 1~fortRa~p spply t~~ cach and every further advance made pursuant to the
provisions of thi; paraRraph. Nothing herein contained shall 2imit the amount
secured by this Mortg~gc, to the extent said amount is incressed by advances
~made by.SMA, as i~erein els~where provided and suthorized, for the protection
_ of the securitv of
21. That the mailinR of a written notiee of demand, addressed to the owner of record
of the Hortgaged premises, directed to the said owaer at the last address actu-
ally furnished t~ SMA . ~r dlrected to the said owner at said Nortgaged pre~ises,
sad mailed by the l;ni~ed States mails, shall be sufficient notice and desand in
any case arisinR un~lPr this instrument and/or the note secured hereby or other-
wise required by the previci~ns hereof or by law.
22. If the moTtRaRed prea~ises is other than a single family dwelling, the tr[ortgagor
covenaats and aRrees that he will, not later than thirtq (30) days after the end
,of the fiscal year, furnish unto g~ a co~plete and accurate balance sheet and
profit and loss statem~~nt reflectinR the ?lortgagor's liabilities as well as profit
and loas for ~he t~+rcgaqor's business for the year iadediatelq preceeding the end
of the NortgaRor's fiscal year, and auch balance aheet and profit and loss state-
ment shall be prepare~i hy a certified public accountant licensed in the State of
Florfda, and shall 5s 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, $MA ~s hereby subrogated to the lien or liens and to the rights of
the ovners and holders thereof of each and every mortg8ge, lien or other encum-
bTances on the land described herein which is paid and/or satisfied, in whole or
in part, out of the procee~ls of che loan described herein or secured hereby, atrd
the respective liens of.said mortRaRes, liens, or other encumbrances, ahall be
and the samp arxi ea~A a~ chem hereby is preserved and ahall pass to and be held
by SMA herein as scrur~cy for the indebtedness to SMA herein described or here-
by secured, to the samc• ~ctent that it vould have been preserved and ~rould have
i been passed to and h~e:~ held by giyp~ had it been duly and regularlq assigned,
; transferred, set over ~ru! delivered bq gMA by separate deed of assig~ent, not-
~ withstandinQ thP fact that the saee may be satisfied and cancelled of record,
! it being the intenr.i~n of rhe parties hereto that the sa~e vill be satisfied
; and cancelled of rPCOrd by the holders hereof at or about the tiae of the record- ~
i ing of this NATC~Af;P.
r 24. To pay all and singular the costs, charges aid pxpenses, including attorney's fees,
~ reasonably i~curr~i vr paid at arry tise by S~, because of the failure of the
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Mortqagor to per.form, crnnply With and abide by each and e~rery the stipulations.
agreements, conditinns :~nd covenants of said praonissory note and this der3, er
i either, and every such payment shall bear interest at the rate of tas (lOx) per-
; cent. per annum.
` 25. It is $pecifically ~y:rced that time is the essence of this contract and that no ;
i ~raiver of any ohliR~ri~n hereunder or of the obligation secured hereby ahall at
' any tise thereafc~r bP he2d to be a~raiver of the terss hereof or of the instrusent
' secured hereby.
~ 26. That tw extens[~n of tt~e tiap or modification of the terss or pay*ent hereinabove,
and Ao release ~f any part or parts of the vortgaged prsises shall telease,
relirve, or dischar~;e the Mortgagotr fro~ the pay~ert of any of the auas herebq
~ecured but !n such pvent the MortqagoY siu12 Qevertheleas be liable to pay such
; au~s accordinR to th~ rerms of sucli extension or ~odification unless specifically
released and diA~harRPA ;n vritinA by SMA and furth~noTe, that aceeptance
' of part pay~ent ot any installwent of priucipal os iotereat~ or both, or of psrt
~ pertorsance of any ~~v~•nnnt or delay for any period of tise in axercisinR the
~ option to w ture ~he entire debt, shall not operate as a wiver of the riRht to -
~ ~escise such optl~n ~n account of such default, partitl acceptance or any sub-
~ •~quent default.
~ OR
; 5 eoox 213 ~a~~ 2g9s .
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