HomeMy WebLinkAbout2373 all or any part of the indebtedness secured hereby is unpaid, and
any reasonable expense incurred by it in so doing shall become part
of the indebtedness secured, hereby, and shall become immediately
due and payable and shall bear interest at the rate provided herein
for matured obligations, however, it is expressly understood and a
agreed that the holder of such indebtedness is under no obligation
to so do, except at its own election, and failure on the part of
such holder to take any action hereunder shall not constitute a
waiver of further breaches of such covenants; it is further conven-
anted and agreed by the said Mortgagor that he will not mine or cause,
authorize or permit an~? mining of phosphate, limerock, limestone,
clay, sand, oil, petroleum or any other mineral on the lands secured
by this mortgage without the prior written consent of the Mortgagee
and any violation of this covenant shall give the said Mortgagee ;
the option to declare a default on said mortgage and accelerate the ~
principal balance due on the note hereby secured, together with any
other rights in case of default as otherwise provided in this instru-
ment, provided, however, that nothing contained herein shall prohibit
and restrict Mortgagor from developing the above described property
for residential or commercial purposes and removing all or portions
of said grove in the course of such development.
6. To perform, comply with, and abide by each and every
the stipulations, agreements, conditions and covenants in said
promissory note, and in this deed set forth.
7. If any of said sums of money herein referred to be
not promptly and fully paid within 30 days next after the same
severally become due and payable, or if each and every the stipula-
tions, agreements, conditions and covenants of said promissory note
and this deed, or either, are not fully performed, complied with and
abided by, the said aggregate sum mentioned in said promissory note
shall become due and payable forthwith or thereafter at the option
of the Mortgagee, its successors, legal representatives or assigns,
as fully and completely as if the said aggregate sum of $497,000.00
were originally stipulated to be paid on such day, anything in said
promissory note or herein to the contrary notwithstanding.
IN WITNESS WHEREOF, the said party of the first part has
caused these presents to be signed in its name the day and year
above written.
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~ Signed, sealed and delivered _ HARDIN FLORIDA INC. ~a~"'
~ cor oration, d/b/a TASI~i a' ~ "
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% j~ Joint Venture ~ . o. :.~1 ~ (
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~ ~ ~ ~ BY : , ~ s _
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~ • N. A. HARDIN, PresidE~i~lj~
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% 1 HARRISON LAND DEVELOPMFI~'~j;•~INC ~ H T. 1
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, a Florida corporation,; d?~'j~~'La ~~6IS ~ - •
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' ~ / _ a Joint Venture ``•u i'..-5 s;, j~~ _ ~ i
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~ % ~ .cE~~ ~ BY : =i -~--Z ` ~ ~ ~ ; , ~
~ NAT G. HARRISON, JR.'~:,. 81 ~p~r
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N. A. HARDIN, a former Partner of
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~ TASIS, a Joint Venture
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