HomeMy WebLinkAbout0160 in intereat with referenco to this deed and the debt hereby secured, in the same manner .
as with the Mortgagor and the Mortgagors and without in any wdy vitiating or discharging
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the Mortgagor's and th~ Nortgagors' liability hereunder. No sale of the premises hereby
aartqAqed and no forbearance on the part of the Mortgagee, and no extension of the time
for the payment of the debt hereby secured given by the Mortgagee sha12 operate to release,
discharge, modify. change or affect the original liability of the Mortgagor or the Mort-
gagors herein, either fn ahole.or in part.
6. The lien of this deed secures and sha21 continue to secure payment of said
indebtedness or indebtednesses, however evidenced, whether by said note dated June 28,
19~7, as modified and extended herein, or any renewal or extension thereof or substitute
therefor, or otherwise, until all such indebtedness sha21 have been fully paid. _
7. If foreclosure proceedings of any second mortgaqe or any junior lien of any
kind should be instituted, the Mortgagee, its successor$ or assigns, may at its option,
immediately or thereafter declare this mortgage and the indebtedness secured hereby due
and payable.
8. The Mortgagor and the Mortgagors may either lease or encumber (through ~unior
lien) the mortgaged property without the prior written consent of the Mortgagee. In the
event the Mortgagor or the Mortgagors otherwise convey, seZl, or transfer the fee simple
title to the mortgaged property Without the prior written consent of the Mortgagee, the
ltortgagee shall have the option and privilege of declaring the entire indebtedness
evidenced by the note dated June 28, 1977, secured by this mortgage to be due and payable
in full.
9: That in the event the premises hereby mortgaged, or any part thereof, shall be
conae,~ea and taken for pub2ic nse under the power of eminent domain, the Mortgagee, its
successors and assigns, shall have the right to demand that all damages awarded for t6e
takinq of or damages to said premises shall be paid to the Mortgagee, its successors or
assigns, up to the amount then unpaid on this mortgage and may be applied upon the payraent
or payments last payable thereon.
VII.
Arthur O. Stone and Shirley Stone acknowledge that they are president and secretary,
respectively, of Florists Clearing Network, Inc. Arthur O. Stone and Shirley Stone further
acknowledge.that they are the owners of a controlling interest in Buning The Florist, Inc.
One of the express conditions•imposed by The Dania Bank in order to obtain its consent to
tnodify and extend the note 3ated June 28, 1977 is that the indebtedness evidenced by said
note, as modified and extended hezefn, be further secured by the within mortgage qiven by
Buning The Florist. Inc. and Arthur 0. Stone and Shfrley Stone to The Dania Bank. Flarists
Clearing Network, Inc., Buning The Florist, Inc., and Arthur O. Stone and Shirley Stone all
ever and state that they, and each of them, have received and will receive direct, positive,
valuable and substantfal benefits as a result of the agreement of The Dania Bank to modify
and extend the note dated June 28, 1977, according to the exact terms and conditions herein
stated and that the makinq, execution, and delivery of the aithin mortgage was a material
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