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Home My WebLink About2886 pro~ided. bovvever, t!k agge$ste amount ot principal.wtuar~ng at aay uax stuU aw esceed an aax~unt eyual to one hundred und titty j percent NSO'A.1 ot ibe pnncipal aa~ount originaity sccured berebp. ; t7. TLat, itrequirod try ebe Mortgagee. ibe said Mortgag~x will pvY uato ~be M~tgagee, u~ the tint dajr of each nnd ev,ory c~nsecu- ~ive mo~th. a sum equal to ooe-t~~Nftb ut tire anaual amount oectssary to paY all taues and asstssments'agatnst the said tri~rtgagcd prcmises, said moathly sum to be sstimatod sde1Y b~t ~be lN~xtgagoe aad caiculatod to be an amouaa not less than tAe amuunt ot ta:es # assessod sgainst said mo~tasaed ~ fa t6e pce~~ious rear; aod if furtber ~equicod by the Mortgagee. to pay aU insurance premiums ~ in manner aad fo~ ss pco~ided 6crei~ tor tbe papmeat d tues aod assessoaeats. f 16. To the estent ot tbe indebtaincs d tbe Mun~. to tbe Mortgagoe ckscribed herein or secu~od Aereby. the Mortgagee is • hereby wbng~ted to the liea or tiens. a~rd to tbe rig6es of tbe owmers aad hulders tLeroot lincluding the Mortgagee ii its own mortgage is , rcfn~anoedl at eac6 asd e~~e~r a~on~ge. lica or aLer aocumbraoct os tbe la~ed describod hereia whic6 is paid and/or satistied, in whole or in pan. out of tht p~~oooods o[ tbe loo0 3escribod 6eain or socurod bec~ebp and tbe respecdve liens ot said mongages. liens or other en- cumbrances s6a11 be. aod tbe saene aad each d them is. bereby presnrod. aad s4aU pass ta and be held by the Mortgagee herein as secu- rity tor the iudebcodn~ss a ~be Mo~tgasee ba~aa desrn'bod o~ 6ereby socured. to the same excent it would have bce~ preservat and would hare beca Rsssed to aad bxa bdd b~+ the Mo~ta,~goe had it b~ea dutp aod regularfy assigned, transteaed, set over and ddivered unto the Mortgagee by sepuate dood of ~usa~t, aawit!?sta~ tbe fact tbst t6e same may be satisfied aad cancetlod of record. Acquisition of citle to tde mongagod property b~r tbe Moct~ee shaU oot aperace co merge this Morcgage; but to the conuary. this Mortgage shali not be deeaed mergod into s~d 6da bue sbaB be p~emed to be aod nmain ia tuU torce and eftect, unW satistiod by formal instrument o[ satisfacti~oo. . 19. Tbat in t6e e~ent tbe prcmi~es 6aeb~r mor[g~ged. o~ any part t6eroot. sbaU be condemned and taken Eor puWic use under the power of daiaeac doaaaia. [be M«tg~ee s6aU h~te [he rig6t co dcmand t6st aU damages awarded for th~ taking of or damages to said premises sbaU be p~id w ebe Mort~oe, iu snccesson or assigns. np to the amoune tbeo uapaid on tl~is Mortgage to be applied upon the payment or ~raymeots last payable 6eiein. ln t6e erent it booomes ncoessary for the Mongagee to empluy counscl to protect its interest at any oondemnatioa procaediogs, tbe Mong,agor shall camburse t6e Mongagee for sU reasonabte attorney's fees thus incucred. and all such sums sLall be deanod securod b~? t6e tiea af tWs Matg~e. 2Q No e~eeasioo oi tm~e a modiC~doa d ebe terms o[ paymeac rocitod in the Mongage Note 6ereby secured. nor apy relcase nf aay part o~ parts d tLe mong~ge prupatT. evee ebough made writLout tbe ooosent of the Mortgagor. s6a11 release. re[ieve or discharge the Mortgagor from tbe pa~rment of a~r ot ~Le sums Lercb~r socu~red; but m suc6 arent. t6e Mortgagor shall aevertheless be liable to pay suc6 sums acoording to e6e tetms of suc6 e=ten9on ar a~od5ca[ioo, uakss exp~essty rdased and dixhargod. in writing, by the Mortgagee. The Moctgagor ooveaants tbat is the e~~eat t6e o~neisbip ot said property. or any put cheroof. becomes vesced in a person other than t4e Mortgagor. tbe Matga~oe a~ap smn~larip dal ~it6 mc6 wccessor or succ~sors in iaterest without discharging or in any way affecting che tiability of the Mort~agor 6a~e~mda a~ upon the debt berebp xr~rod. 21. As additional securiq. t6e Mortga~r does DerebY uansier, assign aad set o~er to the said Mortgagea. its successors or assigns, any aad a!1 rents ovp due. a eo booome due, oa tbe abrn~e dcsrn'bed pcemises or any sepacate rental premise appurtenant thereto. which are situatod on tbe I~d ab~o+~e desai'bod: suc6 reats eo be oolk~cted bp or a[ tbe directioa of the Mortgagoe. its successorx or assigns, and ct~ net p~ocoeds [baeo[ to be appliod w c6e i~odebto~ar ~er~cinbefare soceered. as and when the same shall become due and payabl~: and for the pur~ ot carryiag au tLis pnarision, tbe Moctgagcx does by t6ese presents coustitute and appoint said Mortgagee. or tht suc- ccssors or uvgas of said Mactgagoe. as tis. 6a or Ibeir we and la~rtul aaorney-io-f~~ co cdlect any and all rents for said above described premises, e~p~ssly autbo~ tbe'MortEagee. or its successo~s or usgns. to reeeipt teoants t6erttor. aad do by these prtsents ratify and rnnfum any and at1 xts of said attocory--~-tact in ~dahoa to tDe Wreg~oing pawer. The foregoing assignment of reatals s6a11 not be deeme~ waived by mae fonebeannoe oa [he paat ot [6e M«tgagee m respa.Y co its right to oollect said rentals, whic6 right of colleeaon may be invoked try tbe Mo~tgagee at ~r cime. Nothia~g 6e~ei~ shaD be doemod to ooauituce tht Mortgagee a Mortgagee in possession. 22 That tbe Mortga~or sSaU. ae ro~ of tbe i~tortg~gee, furnisb a wcitten statement of the amount owing on the obligation w•hic6 this Mortgage sxures, and tberein stau shn~er ar aot tbe Mat&agor claims any deteases or oifsets thereto. 23. Tbat tbe Mortga~go~r.rtll na permit ary ot6er lie~ co be 6kd agaiau the said premises, aad if aay such Gens are C~led, w6ether parainount or subocdinate to t6a Moccg~e, tLe Mortgs~or wn~116are, or cause to be 6ad, said liens disc6argod immediately. 24. T6e Matg,sgce shall ha~~e tbe rig~t to charge tbe Moctgagors ~oount with the Mortgagee for the interest and principal PaYabk as pc+o~~ided 'm tbe ~romis~~ Nae as suc~ betomes doe in accordance therewith. 25. lf the Mortgagee reqoests. tbc MatEagor haeby coreaan andts agrets t6ae t6e Morcgagor will furnis6 the Mortgagee annually, from the date of this mo~tgage i~trumeat. uoless s~oma other date is agreed to bet~reen tLe parties. in writiag. a certified audited ~nancial - seatcment of t6e Mortg,agnc md mouat oomplae oQeramg staccments of tbe lNortgagor. If the Mongagor's fiscal or calendar year shall not ooincide ~itb tho date baeis spori5ed. t~ea tbe date w~cb t6~ Mortgag~e shall spocify s6aU bc ooatrolling. T6e Mortgagor shall supply the Mortgagee.vuh such aher 6manc~al ~uemeats as [6e Mortgagoe may Ecom time to time request. 26~ T6e parties bereby ackno+riodge [lnt. m addition to ooastituting a reat estate martgage upon the real estate and Cutures ea- cumbecod heretry, t6is Indentocc also oonstit~es a Soc~aieT Agteement aod Fiaaneiag Statement. with respeet to said ~:tures aad all c6at- cets ooverod her~eby. [ogetber .vith ail d[be p~a.~eeds t~erwf, in xcordance aith the Uniform Commercia! Code. T6e Mortgagee's Aaare~;s:, P.O. Box 10614, Oniversity Park Station, Denver, Colorado 80210 ~ 7"he Mortgagor's IDcMor s~ ma7ing address is: ~ Birch House, 600 North Birch Road. Fort Lauderdale~ Florida 33304 27. Otber Pro.i~ons: (a) The above set forth Paragraphs numbered 4, 17 and 25 are ~ specifically deleted as terms and provisions of this instrument, a~so being 3eleted are Paragraphs 6 and 21. ~ (b) Mortgagee, may from time to time hereunder, without affecting the ~ liability of any person or party for payment of the sums secured hereby ! and without othen~ise affecting the lien of this Mortgage upon the remainder ' of the encumbered premises for the fu21 annount of the indebtedness then or ; thereafter secured hereby, release part of the premises encumbered hereby, on the terms and conditions set forth upon Exh~,bit "B" attached to this ~ Mortgage. FARAGRAPH 27 HEREOF IS C011~TINUED ON ADDENDUM TO THIS MORTGAGE PARTICULARLY DESCRIBED AS EXHZBIT 'B' AND BY THIS REFERENCE EXPRESSLY MADE A PART HEREOF. IN WITNESS WHEREOF. [be s~id Mortg,aeor 6ereunder secs h~s hand aad sea! che day and year firs[ above written; or (applicable ~ only where tbe Mortgagor is a corporation? the said 1Nortgagor has caused these presents to be signeci in it ame by its President and its corporaee scal affiiod, ateestod by its S~ocretsry. e6e day and p+rar vrriccen abore. ~ S~ i . ~ } • ' . ~ ~ "-~rede~ick Z. Pea on, a sin le ~ , - man . - - _ _ ~ ~ ~ - E ~ ' 1.7G~~ i ' ~ ~ J~~l ~ I p BUOK~~~ PAGE~O~ _ - ~Seat1 ~ ~ I _