HomeMy WebLinkAbout0246 ~ .(Riaer annexe~ and made a part or Mortgage Deed aated March is 19i4,
by and between Landmark Investments Company of nroward, Inc., a
• Florida Corporation, as mortgaqor and Jack Fried, as mortgagee).
8. That the :~Iortgagor t,~ill pa~• all taxes, as:=es~ments, c•~ater rates
and in default thereof, the Mortqagee ma~~ pay ti:e s:a*~e.
9. That iF default be made in pa~~ment of taaes, assessments,or
i-nsurance premiur.is, and if the default coiltinues fer a period
of ten (10) days, the holder of this r~ortgage shall h~ve the
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right to pay such~ defaulteci taxes, assessm~.~nts or insurar.ce
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premiums, and the amounts so paicl with interest thereor. at
the rate of Fif teen (1 S$ ) per cent per anr.um r.~a~• be addeu tc tre
indebtedness secured hereby and shall be a lien on said
premises and be callected as a part of the indebteciness
' secured by this mortgage and in the event of an}• such -
, payments~of an}~ of said defaulted items, this mortgage and f
the ~•:hole indebtedness securec~ thereby shall, at tr.e option
of tr.e holder thereof, ~ti°ithout notice or deriand, in.mec:iatel~•
Lecorne due and pay~ble, althoug~: t:ie time lirtit for the payment
thereof may not have expireci and t:ie sai~ }:older shall ha~; e
t::e same rights and remedies as su~h iiolcier woulc '.iave if ,
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default were made in the pa}~ments o£ the principal su~r, seclired -
~ererl, anything herein or in said note containe~ to the
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~ contrar~t notc. i thstanding . ,
` 10. ~hat the I+:ortgagor and an~- subsequent o~:ner of the r,tortgaged
~ nremises hereb~• agree upon demand to exE,cute an estcppel .
certificate in r~?cordab~e iorm indicating the princinal ana
interest due hereunder, and failure to elecute saicl estoppel
certificate upon c:er.land s}ia~l constitute a default o~ this mortgage.
iI. In the event of ti:e sale, trar.sfer or con~-eti~ance of the encu~bered
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propertv prior to satis~action of tl~e note secured b~r this mortgage, '
the er.tire unpaid balance thereof , tcoether ~•ritt~ interest tr.erecn,
shall ~ecome due and paratlE at the option o` the mortgagee c:ithout
r.otice.
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