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14. Y1u?t In tl~e eveat thst ~[ort~a~or ~tull tll oo~wnt tn th~ appolntment ot a r~ceiw+r. tn?rt~s or 11qu1dator of W or a
substanttal part of ~tortts~or'a es~et~, or bs adiudlcated a DuOcrupt or btwlvcn~ or tUs a voluatary petltlon la Oat~kruptcy.
or admit in writir~ fb 1naDWty to pay ib debta iu t1~ey become dw. or (a) make a seneral aaslfnm~nt fos tl~ batkttt ot ce~ltora.
or (4) fik a petltloa or anawer ~eekins reor~aaitwtl~n o~ aen?r~emeat with cred(to~s. or to twke ~dvant~e ol ac~y Inwlvenry
taw. oe (d) t11e an snswec admlttir?6 the materlal alk~atlons ot • p~Utiwf flled Kafast the Irtai~ajor la W? bsnkcuP~'Y~ n'
organisatbn or tasolvency proceedinr, or (d) actba sdall bs taksA by the Hortss~or tor the pur pao~~ ot eKect1a~ aqy ot the
lorego[n~. or f71 any oMer. ~u~mea~t or decree sbW bs eatered upan ap applkatbu ot a credltor or.~[ortsasor by a oourt ot
competent ~urlso:cqan approvtc~ a peUtloa ~eektnt appolntment of a raeives or trustee ot all ot a substantlsl p~?et ot tbe itort-
ga8or's asseta and euch order. 7udemer~t or decres shali ooatinw unst~yed sad tn eKect foc ~ay ptsiod d thtrty l30) ootuecv!!ve
days, the Mortga~e may declare the rwte htrab~~~ forthwith due a»d~ whereuyon tbe principai ot wd tbe interest
accrued on the iwte and all other sums Aercby ahall beco~ forthwl aad panbk u u W ot tde sab wu~s o~ moqey
w•ere oNgin~Uy stipulated to be pa1~ on such dsY: aud thereupoa the ~[ort~atee wttl~out notlce or d~nand msy pra~ecute a avit at
Iaw and/or ln equity sa tt ell moniea secured lfereby had mshu~ed pdor to ita tnrtitutloa.
lb. TMt nny aur? or sums which may be loened or sdvanced by tUe l~[ortis~es to the Hort~a~or at aqy Ume wlthln twenty
t20) ye~ara trora the date ot thls lndentuse, together with Interest tAereo~ at tM rate ase~eed upon at tlia tlrae ot wch loan os ad-
~~anre, shaU be equally secured with and have the aame priority as the orl~inal lndebt.cdn~eis ~nd be wbJect to all the terms and
proviatons of this mortgage• provWed. Wat the sggreeate amount ot priuclpal outstaadi~t~ at any tims shall not exceed au amount
equal to one hundred and fltty per c~t (150lG) ot the priactpal smount origltu~lly ~ecura! hereby.
ld. That, it required by Mortga~ee. t1u aatd Mortsagor wW pa,y uato t1~e ~[ost~a~ee, o~ Lba tirat day ot each and every
conxcutive month, a aum equal to one-tweltth ot the annusl unount neceasuy to pay all taxea aad :asseas~neata agafnst the nld
mortgaged premiaes. sald monthl,y sum to be eaWnatai solely by ][ortgag~e snd csicatated to be an amount not leas tban the
amount o[ taxes asfeseed ctgatnat aaid mortgaged premisea !or the preWous year. and it further rcquirod by ]Iort~agee to pi?Y
au insurance premiwns in manner and fotra as proWded hereia for We payment of tanea and asse~nenta.
1T. To Nrther aecure payment a t.:e indebtedne~s ol the l[uttgasor to tAe Hortgsgee. the Mottgagor doa herebq sell.
assign. transter and set over unto the Mortgagae all of the renta, issuea and profits of tbe mostgaged premises. and this aastp~-
ment shall become operaUve upon any detault bein~ madc by the 3~[ortgagor uader the teraes ot thL mortgage or the note iecured
hee~eby. and ahaA nmahf ia fuU fosoe and dtoct so loa~g as any d~ault oonW?ues to exist 1n the malciat oi any oi the p~rtna?La
or the performanoe of any ot the covenanta ot this mortgage oi the note secured bcr~by. and t1~e Idortsaate aiiW davs the tl~ht
to enter upon the premisa a~d collect same dlrecUy trom perawis in posue~asbn.
18. That ii thla mostgage !e !n connection with constructiou loan financing. thai this mortaa~e 1u sub~ect to the Constnk-
tion I.oan Agreement of even date henwitb. betw~ea the ~[ortgag+or and tbe ~ortgagee. sn executed oopy oi wbicb is in the
possession of the Hortgagee and is incorporated herein by reLee+~ce a~td made • part hereof; any default by I+tort~a~or undar
said agr~ement ahall be co~sidered an event ot ddaWt uMer this maetgage.
19. That the ]~torigagor wUl on t,he reguest oi the Mortg~gee t~rnish a written statemeat oi the amount o~wfug oa We
obligatjon which this mortgage secures and tberei~t state whetber or not ]~Iortgasor claitns any defawa or attseta thento.
ZO. That I?tortgagor wil! not permit any otbes He~s to be ti1M againrt tbe aatd preinises and if any such lie~u are filed.
whether paramount or aubordinate to Lbis mortgage. M[ortgagor wW bave or cawe to be had said liens dtscharged lramadiately.
21. Mortgagee shall t~ave the rtght to charge ]~ortgago~s acoamt witb ]~Wrtgagee for tbe intcrest and principal payabk u
provided ia t6e promissory note aa such becomea due in aceordatK.~e thenwith ~
ZZ. If tl~e Mortgagee re9ueds. 3lort~agor hereby cwenaats apd ~ tbat ]dortgigor wW flirntah tLe l[ortgagee atttwtlly ~
from the date of this mortgage iastntmmt, uWesa some Other date is a~reed to between the partia in wrlW~g. a oertiHed
audited financial ststement ot the Hortgagor and anuual canpkte operating statementa at ]tortgagur. I! the Mortaago~a liacal
or c~~dar year ahall not colncide wltb tbe date herein specifled, then the cLte wbid~ the Mortgagee aLsll ~ecitq ahali be eon-
trolllng. ]~[ortgagor ahaU supply Hortgagee with such other finanetal statemeats aa )r[ortgagee may froa? time to time requeat.
2s. Ic is agnea chac nouW~g berein ooata~nea nor u,y trensaccion relscea u~ereco aUau be oonstruca oc so aperace as w
requln the Mortgagor to pay interest at s rute greater thau it is ~ww hwtul in wch case to ooa.tract for. or to mske aay pay-
ment or to do any act contrary to law; that if any ctauses or peoviaions berriu contained operate or w~ould pmy~ective~y operate
to fnvalldate t,his Mortgage or eafd Note in wbole or in part. the~f, euc3~ clauses and proviaioas ooly shall be heW for nsuafit, ~u
though not herein aontained. and the semainder of this ]~[ortgaae abali remain operative and !a tull foroe aid ettect
24. In the event the pramlaes hereby nwrtgaged. or any part thereol. ahall be oondemned and Lakm for public use. widet
che power of eminmt danain. Idortgagee ahail have the rigl?t to m~ulre that all damagea awarded for tLe tak[ng of or damagr
to aaid premLses efiall be paid to ttje Idortgage~ not to •exceed tbe thm uupaid balance ot thfs Mortgage ud Note secured
thereby. and at Uu opUon ot the y[ortgagee, may be appUed upon the payment or paymeata last payable hereon. In tbe evait
it becomes neceasary for the Hortgagee to employ counsei to protect its interest at say ooncltmnatbn proceedin~e. tbe ]liortgs~or
shal! reimburae the ]~ortgagee for all nasonabk attorneys' fees thus inwrred~ and sll such wnu shall be deenaed ~ecared by tl~e
lien M tltis 1[ortgage.
26. This mortsa~e ~6a11 be constsued as a secusliy a,~eement under tbe Florida Uniform CommercW Code.
See rider attached hereto fot ~
paragraphs 26. 2T and 28
~~71 ~ g8~g
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