HomeMy WebLinkAbout1772 ,(Rider annexed and made part of Mortgage Deed dated September ,1975~
by and between LANDMARK INVESTN~NTS COMPANY OF BROWARD, INC.~ a Florida ;
Corpor~tion, as Mortgagor and THE ESTATE OF SIDNEY S. BLOCK as mortgaqee.j~
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S• That the Mortgagor will pay all taxes, assessments, water rates
and in default thereof, the Mortgagee may pay the same.
9. That if default be made in payment of taxes, assessments, or
insurance premiums, and if the default continues for a period _
of fifteen (15) days, the holder of this mortgage shall have the
right to pay such defaulted taxes, assessments or insurance
premiums, and the amounts so paid with interest thereon at
the rate of Fifteen (15$) per cent per annum may be added to the
indebtedness secured hereby and shall be a lien on said premises
and be collected as a part o£ the indebtedness secured by this
mortgage and in th~ event of any such payments of any of said
defaulted items, this mortgage and the whole indebtedness secured
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thereby shall, at the option of the holder thereof, without
notice or demand, immediately become due and payable, although the
time limit for the payment thereof may not have expired and the
said halder shall have the same rights and remedies as such holder
would have if default were made in the payments of the principal `
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sum secured hereby, anything herein or in said note contained to ~
the contrary notwithstanding.
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10. That the Mortgagor and any subsequent owner o~f the mortgaged
~ premises hereby agree upon demand to execute an estoppel certificate
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~ in recordable form indicating the principal and interest due
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6 hereunder, and failure to execute said estoppel certificate upon
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~ demand shall constitute a default of this mortgage.
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11. In the event of the sale, transfer or conveyance of the encumbered
property prior to satisfaction of the note secured by this mortgage,
~ the entire unpaid balance thereof, together with interest thereon, ,
~ shall become due and payable at the option of the mortgagee without
~ notice.
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