HomeMy WebLinkAbout1228 Kidcr to ti~~t C~~rtain Morty~yc• Dt~c~d from
fiOLLYW000 Dt'Vt.'l.Ot•M~NT COMf~ANY, ~ F'lorida
corpni~ation, to TRAFAl.c;AR COMMUNITY DLV~:'l~b
INC., a F'lorida ~rparation, ~l~ttd th~~
day of Octotx~r, 1973.
1. This rrartgaqe is subjact ~nd sulx~rd~n~te to the mortgayes hereinabove
~i~scribed, but not to any modificarion, ~~xt~~nsion, repl~cerrn~rnt or reriewal therc~of and
onl y to the amounts from timc~ to tiak~ r~~mai nin~ unp~ i d therc~c~n and th~~ notes s~~cured
t hcre.~by .
2, The Mortgagor hereby represents, warrants, cove~ants and agrees that:
(a) The execution and delivery of this mortyaqe is not in violat~on of any
oF the terais and conditions of the prior rmrtyages.
(b) The 1~lortgagor wi11 promptly pay, when due and payable, the interest,
installments of principa2,and a11 other swr~s and charqes mentioned in and made
payable by the prior mortgages.
(c) The Ftortyagor will promptly ~erform ~nd o6s~~rve a11 of thr~ terrns covc•nants
and conditions requirtd to be performc~d and observed 6y th~ Mortga~or under prior
mortyages, withln th~ p~~riods (exclusive of gracc periods) providcd in the prior
n~rt~aqes, ancl wi 11 do a1I thi nys neces.sary to preserve and to keep the prior mort-
y~tg~~s free from defaul t.
(d) The Mortgagor wi11 promptly t~otify the 1Nortgagee in writing of any default
by the lfortgagor ln the performance or observance of any of the terms, covenants
or conditions on the part of the Plortgaqor to be performed under prior mortgages.
(e) The llortgagor will (i) promptly notify the Mortgagee in writing of the
receipt by the Nortgagor of any notice from the mortgaqee under any of the prior mort-
gages and of any notice noting or claiming any default by the Nortgagor in the per-
formance or observance oF any of the terms, covenants or conditions oa the part of
the Mortgagor to be performed or observed under any of the prior mortgages, and (ii)
promptly cause a~py of e~ch such notice received by the Nortqagor from the mortgagee
under any of the prior mortgages to be delivered to the Mortgagee.
(f) The Mortgagor will not, without the prior written c~onsent of the Plortgagee,
enter into any agreements or accept the bcnefit oF any arrangement whereby the holder
of any prior m~rtqage waives,.postpones, extends, reduces or modifies the payment of
any installment of principal or interest or any other item or amount now required
to be paid under the teru~s of any prior mortgaqe or m~difies any provision thereof.
(g) The 1Hortgagor wi21, within ten (10) days after written demand fram the
; /~lortgagee, use its best efforts to obtain from the rrqrtgagee of each of the prior
~ m~rtgages and deliver to the Nortgagee a certiFicate statinq that such prior mvrtgage
is in full force and eFfect, is unmodified, that no notice of default thereunder
; has been served on the Nortgagor thereunder and stating whether or not there are any
} defaults thereunder, and specifyiny the nature of such defaults, if any.
I
~ (h) The Mortgagor wi11 furnish to the Mortyayee, upon demand, proof of payment
of all itea~s which are required to be paid by the Mortyagor pnrsuant tn any prior
' mortqage and prooF of payment of which is required to be yiven to the mortyagee under
~ any such prior mortgage. ~
f (i) The Xortgagor sha11 execute and deliver, on request of the Mortgagee, such
~ instrua~ents as the Nortgagee may deem useful or required to permit the I~Iortgagee to
cure any default under any of the prior mortgages or permit the Mortgagee to take
such other action as the !lortgaqee considers desireable to cure or remedy the matter
= in default and presexve the interest of the Mortgagee in the rrqrtgaged property.
The generality of the provisions of this section r~latiny to the prior rrqrtgages sha1l not
` be limited by other provisions of this rrbrtgage setting forth particular obligations-of
- the lJortgagar which are also required oF the Mortgaqor under the prior mortgages.
' 3. The Who1e of said prinicpal sum and th ';~rest thereon shall become due,
t at the option of the Mortgagee, if the Mortgag~rf~v~ ` b pay any ins~allment ot principal
or interest under any senior mortyage within F~~re~ ays after the same is due or fails
~ ta pay any tax, water rate, sewer rent, or assessment for ten (IU) days ~fter the same
becames payable under any senior rrbrtgaye or fai2s to repay to the Mortgaqee on demand
any arrount which the Mortgagee, at its option, may t~ave paid under any senior mortgaye
; with interest thereon or fails to perform any other oovenant or condition thereof or
x should any suit be commenced to foreclose any senior rrbrtyage.
~ 804K ~~9 PAGE 222?
GREENE AND LAVNE PA.ATTORNEYS AT LAW, 320 N E 18T" STqEET, MIAMI «ORIDA 33132 _ .
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