HomeMy WebLinkAbout0042 ' 1~sis rider, a tached to aad forating a part of Florids I'~o tor = 7~pp$,~ datied~ ,
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euah aoti as ~ee~a aecessary to preserve, ma~ntain ead ~aar~'~o~=~ :4,
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pre~iees, aad said holder of euoh indebtedneee ie hereby given ful~~''
of ingresa and egress to the ps~isea aeauriag this loaa in order to'piA~s,
maintain aa~d oare for suab premieee for so lamg as alI or ~y part oP t,~tv,
indebtedneea eecurea hereby is unpaid, and aap? reasonable ezpense incur.~d'~
b~r it in so 8oing eha11 beaaa~e part of the indebtedness eecured hereby and ~
eha11 becoane inomediately due aud pa~yable sa~d ehall bear intereet at the rate
provided. herein for natured obl3gatiane, bo~rer, it ie ezpreesly underetood
aad sgreed that the hold "e;r of, aubh f3~,~q~~@,dn?ea~ ie under no obligstion to eo `
do, Qzoept at ite ovn elsctio~s, a~o~d feilure on the part of auch holder to ~
talce an~y aation herewader sha].1 not ao~etitute a waiver of f~icther breaahes
o~ euch Qovenante. ~ . .:i
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22. Rhie Florida Mcrtgag+~~'~`Security Agiceemeat eha11 be constru~ed ag_a
Mortgaae oY both real e~ pereonsl'praperty aad ehaYl ~etitute aad serve
as a"Seaurity Agreement" vithin the meaniag of aad create a eeourity intereat
uader Florida'a IIniform Co~nmerc3al Code, the aeoured party being herein
referred to as "Mortgagee". The Mortgag~ar a~cees to a:Ld ehall e=eaute snd
deliver to Mortga~g~ee suah "Financing .St~t~e~nte" emd euoh fl~ucther aseuraacee
as Mcrtgag~ee may, f5con time to time, . ot~iifdvoc iteceeeary to oreate, perfeat
~ aad pre0erve the Ii~prtgagee"'a'~feaas upo~ all rents, ineuranae proceeds, con-
de~ation ati?arde, fizt~ree~, ~,equfptnernt, arops sa~d other personal praperty
herein described aruj a~,l addit~oas„ subat3tntione, replaae~ta arbd acaer-
sions thereto;-~nd al~ praoaede•of ite or their eale or other diepoeition.
The Mortgeg~ee, at the e=pex~ee:of Mortgagor, may cause suah Finaucing State-
ments and assuraaaes to .be rs~ac~rded sa~d re-recorded, filed ~ad re-filed,
and renewed or aoati.nued, at Quch times sad,places as m~y be required or
pe~i.tted by law to oreate, perfect and preserve suah lieae. In the eveaat
Mortgag~or faile to praaaptl.y ezecute a~d return to Mortgagee such Financing
Statemente aa Mortgagee m~y require to areate, preeerve aad perfeat ite lien,-
Mortgag+~r ehall ead do~e hereby deaignate MortgBg+ee to aet as Mortgag+or'a
ag~ent for the purpoee of exeauting euah ~inancing Statemeats. I~ortgagor's
deei~ation as agent hareunder eha11 not be eub~eat to revocation until the
Aote eecwcing thia Florida Martgag~e and Security A~reement is paid in f~ll.
Tho . Mortgag~ee shall have a11 the'• ri~te, rrith respe~t to all gropert~r eaa~m-
bered hereby, afforded to MQrtga~ee unde~ the Florida IIaiform Commercial Code
in addition to, but not in limitation of, the other ri~te afforc~ed the Mort-
gag~ee by this Mortgage. The Mortgagor eha11 not tranafer ownership of or
remove from the prenieee a~ of the pereonal property or fi=turee encumbered
by this Florida I~ior~gag+e and Seaurity Agree~ent. In the event ownerahip of
a~qy Pereonal property or fiztures is x~emoved by Mortgag~or, the eaa~e shall be
i~mmediate~jr replaced by other peraonal property or fiituree of a similar type
end charaoter in which title fe veeted in l~ortgeg~or ~d rrhich are f`ree aud
clear of at~y lien or enrn~braa~e, ead such substitu~ed or replaceanent pro-
perty shall be of equel or greater value thaa the personal property or fiz- .
ture eo traasferred or remooved. ~ioh after acquired replace~eat or subati-
tuted personal property or fizture she11 be encumbered by the lien of thie
Florida Mortgage sad Seaurity Agreeaient an~d, if appropriate or deaired by
Mortgagee, new Financing Statemente coverf.ng the same eha11 be ezecuted by
Mortgag~r aAd forwarded to Moi-'~gaEee vith the coat of recording the same.
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23. In the event the Mortgag~r, without prior xritten conaent of the Mort-
gagee, aha11 sell, convey or tranefer (or eha11 contraat to eell, convey or
tranefer in ezcheng+e for inatallment ps4Ymenta) the MortEaged Premisee or sr~y
part thereof or aRy intereet therein, or ehall be divested of title or aqq
intereat therein in aa~r manner or x~y, rrhether vol.vt~itary or fnvoluntary, the
entire balaaae of the fndebteduees sha12 be 8acelerated aad beco~ imaediately
due aud pq~rable, a~ the optfon of the Mortgag+ee ~,rithout notice to Mortgagor.
In the event Mortgagee electe to aacelerate the entire~balance of the indebted-
neae, Mortgag+ee aha11 have no obligation to allege or shoW any impairment of ~
its eeaurity sad ms~y pursu,e ar~y legal or equitable remedies for default in euch
p~yment xithout suc~h allegation or shoxirig. k ~ ~ , -
~~,••.i s3:0~ -t~ :-33 B(,~1: r~6 V Pdau~ L U. S. A. rn~e~~Ll ~ra~
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