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A de£ault unc~er those certain mortyages as liste~l below shall con-
stitute a default under this mortyage:
(1) That cert~in mortgay~ from I3urton Smitl~ Groves, Inc. to
`i'he First :3ational uank at Orlancio, recordcd in Ufficial
Records Book 95, Page 137, Public Records of St. Lucie
County, Floricia. ~
(2) That certain mortgage from I~ay-3~ti11, Inc. to First Fcderal
Savinys and Loan ~~ssociation of i't. Pierce, recorded in
Official Records Book 136, Page 324, Puk~lic ~Zecords o~
St. 7~ucie County, Florida.
(3) Tliat certain mortgage from :~Jagner Groves, Inc. to Florida
:7atioaal Bar.k at Orlando, reccrded in Official P.ecords
3ook 94, Page 556, Public Itecords of St. Lucie County,
Florida.
(4) That certain mortgage from Kay 'i'wo Grove, Limited, ~o
~ Connecticut General Life Insurance Company, recorcied
under Clerk's :~o. ~.5']SS3 , Dublic Records of St.
Lucie County, ~'lorida.
(5) That certain chattel mortgage fram i;urton Sr,~ith Groves,
Inc. to The I'irst i7ational i;ank at Orlando, recorded in
Official 1Zecords IIook 113, Page 428, Public Records of
St. Lucie County, Florida.
(6) That certain chattel mortgage fro:;1 t•7agner Groves, Inc.
to Flori~a :dational Bank at Or2ando, recorded in Official
Records Book 113, Page 433, Public itecords of St. Lucie
County, Florida.
( 7) That certain Securi ty Agreement betcaeen iCay T~.~o Grove , Ltd
a~sllebtor, and Connecticut General Life Insurance Company,
as Secured Party, dateci ~~.N ~`l 1`1l
(8) That certain Security Agreement between f:ay Two Grove, Ltd.,
as Debtor, and Connecticut General Life Insurance Cor~pany,
~ ~ as Secured Party, dated 5~.~ ~ 5 ~913 .
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E In the event aII or any portian of the property hereby mortgaged
k is included in any drainage or other impro~~er~ent district formed
; or autnorized subsequent to the date hereof, or in the event said
E property, or any part thereof, is in a drainage or other ir.iprove-
` ment district as of the date hereof, and subsequent to the date
; hereof the bonded indehtedness of such district is increased or
~ the district is autitorized to r~ake a3ditional assessMents for
improveinents in excess of 15~ of the assessment in force and ef- _
fect as of the date hereof, then in any of such events the :~Iort- -
gagee may, at its option, deciare the entire indebtedness hereby
secured due and payable upon six months' notice. If sueh option
is efercised and notice given, then upon th~ e:{piration of such
5 JIA montiis' noticc, the entirc incicbtcclness hereby sccured snall ~
; }~e c3ue anci pay~ble and nonpaysnent thcrcof shall constitute a ae-
fault under this mortqage,~and ~he sar,e may be collected 'vy fore-
clflsure or in any other manner provic3ed by law. ~:o~•~ever, if the
t~lortgagor pays the said ariditional assessi:~en~ in cash ~aithin said
" six r:~onti~s' neriod, ~hen tiie riyht of the ~~lortc~aqee to accelerate
the ~ebt secured herehy, for said specific non~ayment, sha?I. ter-
- minate as to such default, ~vit}~out iii a:~y manner affecting ~he
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- ~^Q~ 215 p~r~ 25~1
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