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18. It is sPecifically undrr~to~d that the lbTtRaRar shall have the riRht to prepay
the amount due lurpunder~ ~r any portion thereof, at any time, in muttlples of
~1+•• mo~thly paynent Atlpulated in the prosi~aory note secured by this lbrtgaRe
deed~ howevet as m~y be limited by the tess~ of •aid promissory note.
19. The abstract of titlc ~•ov~rlnR the encvmbered property shall r esain in the
poases~ien ~f SMA d~~rin~ th~ lien of thi~ lbrtgage, and after forecloaure it
shall becane the pr~ipert y of SMA.
20. That it is the intent h~r~nf to aecure payment of the note hertin deacribed~
vhether the fult am~~~nt th~r~~f chall hsve been adv~nced to the MortRagor at
the date hereof, ~r at later date; the Mortgagee may, at the sole option of
the MoYtRagee, from timc• t~ time before the paqa~ent of all indebtedneas secured
hereby, make further ~dvances to the Mortgagor, vhich advances shall be like-
wise secured by thia MortRaRp; provided, hovever, that the total principal sum
aecured hereby and remainin~ unpaid. including any such advances, ahall not at
any time exceed the oriRinal principal eua of note t~erein deacribed. All advences
made pursuant ro thP prcwious sentence ehall be made ~rithin the time limit
authorised by Florida l.s+w for makinR valid future advances. MortgaRor shall
repay all such furrh~r adv:?nces vith interest and the indebtednesa created by
virtue of such furth~~r adv~n~es shall be and are secured hereby. All provisions
of this MortRa~~ ,ppiy te cach and every fur:ther advance taade pursuant ta the
provisions of thi; paraRraph. Nothing herein contained sha21 limit the aawunt
secured by this Mortg~g~. ro the extent eaid amount is increased by advances
made by SMI~i, as i~erei» elsr.where provided and authorized, for the protection
of the securitv of
21. That the mailinR of written notice of demand, addressed to the owner of record
of the Mortqaged premises, directed to the said owner at the last address actu-
ally furnished t~ SMA . ~r directed to the said ovner at esid l~(ortgaged pr anises,
and mailed-by the United States mails, shall be sufficient notice and dmand in
, any case arisinR und.r this instrument aad/or the note secured hereby or other-
vise Tequired by the provisions hereof or by law.
22. If the mortRaRed presaise~ is other than e sinRle family dwelling, the Mortgagor
covenants and aRrees that he will, not later than thirtq (30) days after the end
of the fiscal year. furnish unto gMp a complete and accurate balance ehest and
profit and loss statem~~nt reflecting the Nortgagor's liabi2itiee as srell as profit
and Ioes for the lloreg~qor's busiaess for the year immediately preceeding the end
of the HortgaRor's fiscal year, and auch balance aheet and profit and loss atate-
ment shall be prepare~t hy a certified public accountant licensed in the State of
Florida, and shall certified as being correct by auch certified public
accountant.
23. To the extent of ?I~Q indPhtedness of the Hortgagor to g~ described herein.or
secured hereby, $~p ~s hereby suhroqated to the lien or liens aad to the rights of
the o~+ners and holders chereof of each and every mortgage, 21en or other encum-
braaces on the land described herein which is paid and/or satiafied. in whole or
in part, out of tl~e pr~ceeds of the loan described herein or secured hereby, and
the trespective liens of said martRaRes, liens, or other encumbrances, shall be
and the samP and ~ach o~ rhem hereby is preserved and shall pass to and be held
by SMA herein ~s sccuricy for the indebtedness to SMA herein described or here-
by secured, to che s:+mc• Pactent that it would have been preaerved and ~uld tuve
been passed to and hee:~ held hy g~ had it been duly and regularly aesigned,
transferred, set over a~d delivered by glyA bq separate deed of asaigtment, not-
vithetandinR thc~ fact that the eaae may be satisfied and csncelled of record,
, it being the intpnr.ic?n of the parties hereto that the sase vill be satisf ied
and cancelled of rpcor~i by the holders hereof at or about the tine of the record- ~
ing of this Mort~a~e.
24. To pay all and singular the costs, charges and expenaes, including attorney's fees,
reasonably incurr~f or paid at siry time by glyp~, becauee of the failure o# the
M~ortgaRor to perform~ crnnply with and abide bq each and everq the stipulations,
agreements, conditinns and covenants of said promiaeory note and thia der~, er
either, and every such payment shall bear intereet at the rate of tea (lOX) P~t-
cent, per annum.
25. It is specif icat 1 y ~~;ree~l chat ticne ie the esaence of this contract aod that no
xalver of any ah1lR~tl~n hereunder or of the obligation •ecured hereby shall at
any ti~e thereafter bp held to be a vaiver of the teros hereof or of the instruaent
secured heteby.
26. That no extenst~n of tr~e cimP or modification of the ter~s or paqwent hereinabove.
and ~no release oF ~ny part or parts of the ~ortgaged prsises sha21 release,
relie~re, or dischar~;e the Mortgaqor fros the paysent of any of the auas hereby
•ecured but in such Pvent che Mortqagor shell aevertheless be liable to paq such
sv~s according ta thN rermR of such extes~ ion or ~itication unless specifical2y
relea~ed and dinrl~arRPd in vritinR by SMA and furthes~ore, that acceptance
of part paysent ot any installment of psincip~l or iptere~t, or both. or of part
perfo~ance of any chvrnant or delay for any period of tiat in etcerclsinR the
option to nature rhe entire debt, shal2 not operste a• e vaiver of the tiRht to
esercise such opt[nn ~n accourtt of such default, partial acceptance or ary sub-
•puent default.
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E~~K 215 ~,,~f 5~5
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