HomeMy WebLinkAbout2560 EXEIIIIIT "A"
A default under those certain mortgages as listed below shall con-
stitute a default under this mortgage:
(1) That certain mortgage from Burton Smith Groves, Inc. to
The First National Bank at Orlahdo, recorded in Officiai
Records Book 95, Page 137, Public Records of St. Lucie
County, Florida.
(2) That certain mortgage from Bay-Mill, Inc. to First Federal
Savings and Loan Association of Ft. Pierce, recorded in
Official Records Book 136, Page 324, Public Records of
St. I.ucie County, Florida.
(3) '~hat certain mortgage from ~~lagner Groves, Inc. to Florida
:dational Bank at Orlando, recorded in Official Records
Boo:: 94, Page 556, Public Records of St. Lucie County,
Florida. .
(4) That certain mortgage from Kay Two Grove, Limited, to ~
Connectic~t General Life Insurance Company,
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(S) That certain chattel mortgage from Burton Smith Groves,
Inc. to The I'irst Ilational i3ank at Orlando, recorded in
Official Reeords Book 113, Page 428, Publz~-~tecords of
St. Lucie County, Florida.
(6? That certain chattel mortgage from Wagner Groves, Inc.
to Florida ~ational Bank at Orlando, recorded in official
Records Book 113, Page 433, Public Records of St. Lucie
County, Florida.
(7) That certain Security Agreement between Kay Two Grove, Ltd.,
asUebtor, and Connecticut General Life Insurance Company,
as Secured Party, dated 'r~~ ~ ~S •
(8) That certain Security Agreement between Kay Two Grove, Ltd.,
; as Debtor, and Connectic General Life Insurance Company,
+ as Secured Party, dated ~ .
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~ In the event all or any portion of the proper-ty hereby mortgaged
; is included in any drainage or other improvement district formed
5 or authorized subsequent to the date hereof, or in the event said
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property, or any part thereof, is in a drainage or other improve-
€ ment district as of the date hereof, and subsequent to the date
' hereof the bonded indebtedness of such distri.ct is increased or
' the 3istrict is authorized to make a3ditional assessments for
4 improvements in excess of 15~ of the assessment in force and ef-
§ fect as of the date hereof, then in any of such events the Mort-
s gagee may, at its option, declare the entire indebtedness hereby
= secured due and payable upon six months' notice. If such option
' is exercised and notice given, then upon the expiration of such
~ six ~onths' notice, the entire indebtedness hereby secured shall
~ be due and payable and nonpayment thereof shall constitute a de-
~ fault under this mortgage, and the same may be collected by fore-
' closure_or in any other manner provided by law. However, if the
} *dortgagor pays the said additional assessment in cash within said
six months' period, then the right of the Mortqagee to accelerate
the debt secured hereby, for said specific nonpayment, shall ter-
minate as to such default, without in any manner affecting the
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