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ARTICLE 14 ~ ~
ADDITIONAL PROVISIONS ~
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14.1 MAXIMUM RATE OF INTEREST. Anything in the Note, this 11'Iort- ;
gage, the Loan Ag~reement, the Commitment, or any other agreements by '
Niortgagor in connection with the loan evidenced by the Note to the '
contrary notwithstanding, if~ from any circumstances whatever fulfillment '
of any provision of any of the foregoing documents or agieements at the
time performance of said provision shall be due shall involve transcending `
the limit of validity prescribed by the usury laws of the State of
Florida or any other law of the State of Florida , then
ipso tacto the obligation to be fulfilled shall be reduced to the limit of such
validity so that in no event shall exaction be possible under any of the ;
~ aforesaid documents or agreements in excess of the limit of such validity, ;
F but such obligation shall be fulfilled to the limit of such validity and if s
; under any circumstances whatscever interest in excess of the limit of -
€ such validity will have been paid by Mortgagor in connection with ihe =
loan evidenced by the Note, such excess shall be applied by Mortgagee to .
Y the unpaid principal balance of the Note or refunded to Mortgagor, the
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~ manner of handling such excess to be at Mortgagee's election and/or in
% case any such excess interest has accrued, Mortgagee shall eliminate such
' excess interest so that under no circumstances shall interest on the loan ~
~ evidenced bq the Note exceed the maximum rate allowed by the laws of
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~ the State of F lor ida . .
14.2 MORTGAGE TO ALSO SECURE OPTIONAL FIITURE ADVANCES. In
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addition to all other Indebtedness secured by this Mortgage, this Mortgage
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~ shall also secure such future advances ( the "Optional Future Advances" )
as may be made by Mortgagee to Mortgagor for any purpose within five
~ years from the date hereof to the same extent as if such Optional Future
Advances were made on the date of the execution of this Mortgage. Any .
such Optional Future Advances may be made at the option of the Mortgagee
and shall be evidenced by a note or notes from Mortgagor to Morigagee in
~ which it is recited that such note or notes is/are secured by the lien of this
Martgage. The total amount of Optional Future Advances that may be
- secured by this Mortgage may increase or decrease from time to time, but
= the total unpaid balance of such Optional Future Advances secured at any
one time by this Mortgage shall not exceed a maximum principal amount
- of twice the principal amount of the Note as stated herein, plus interest as
stated in such note or notes. The Indebtedness under this paragraph 142
shall be in addition to the Indebtedness under pazagraph 11.9.
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