HomeMy WebLinkAbout2144 for the payment of any money by reason of any contained in the
Agreement for Purchase and Sale of Business and Real Property
or in the Note or in this Mortgage. The Mortgagor and Mor~gagee
understand that the Mortgagee has the remedy of either foreclosing
this Mortgage or foreclosing its secured interest in the equipment
and liquor license as provided in separate Security Agreement but
notwithstanding that fact, the Mortgagee shall have the right to
seek a deficiency judgment should the Mortgaged Premises be
foreclosed upon.
Notwithstanding the existence of the First and Second
Note and the First and Second Mortgage, as both modified or to
be modified, and notwithstanding whether the principal indebted-
ness under said First and Second Note and First and Second
Mortgage is or will be credited on account of the sum owing
under the-Note secured hereby, it is agreed that the Mortgagor
(including without limitation all present and future partners in
and of the Mortgagor) has not, and will not, become liable for,
and does not and will not directly indirectly, expressly, or
impliedly, primarily or secondarily., or otherwise, become liable
for, or assume any indebtedness for or under the said First and
Second Mortgage and First and Second Note, as both modified or to
be modified or any obligation in connection with any of said
instruments by way of indemnity or otherwise, to the payee or
holder of the Note or the payee or hold of the First and
Second Note or any party named in the First and Second_Mortgage,
or the holder or beneficiary of either this Mortgage or of the
First and Second Mortgage, or to anyone else, for principal,
interest, or any other sums payble or to become payable under or
by reason of, either of said Mortgages or the. Note or the First
and Second Note or any obligations or undertakings in connection
with any of said instruments.
The provisions hereof shall inure to the benefit of the
Mortgagor and their successors. However as previously stated,
the Mortgagee may have the right to assign its right, title and
interest in and to-this Wraparound Mortgage-Deed and the Purchase
Money Mortgage Note, but the Mortgagor shall have no right of
assignment of their rights or duties under this Wraparound
Mortgage Deed or'the Purchase Money Mortgage Note secured by it.
I' All notices and other communications to the Mortgagor
shall be mailed by first class registered or certified mail,
return receipt requested, postage prepaid, addressed to Mr. and
Mrs. Craig C. Matthews, at 1104 Alameda Avenue, Fort Pierce,
~ Florida 33450 or such other address as may have been last furnished
~ to the Mortgagee in writing by the Mortgagor. Any notice of default
must specify with particularity the default claimed by the Mortgagee.
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All notices and other communications to the Mortgagee
shall be mailed by first class registered or certified mail,
return receipt requested, postage prepaid, addressed to United
Partners III, Inc. at Post Office Box 3430, Fort Pierce, Florida
33450 or such other address as may have been last furnished by.
a the Mortgagor in writing by the Mortgagee.
IN WITNESS WHEREOF the undersigned ,CRAIG C. MATTHEWS and
BARBARA Y. MATTHEWS,HIS WIFE,have executed this age Deed on
the day and year first above written.
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x ~ Craig- at ews
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Bar ara Y . Ma; t ews
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