HomeMy WebLinkAbout1678 herein as security for the indebtedness to the Mortgagee herein described
or hereby secured. to the same extent that it would have been preserved
and would have been passed to and been held by the Mortgagee had it been
duly and regularly assigned. transferred. set over, and delivered unto
the Mortgagee by separate deed of assignment. notwithstanding the fact
that the same may be satisfied and cancelled of record. it being the intention
of the parties hereto that the same will be satisfied and cancelled of record
by the holders thereof at or about the time of the recording of this Mortgage.
31. In the event any one or more of the provisions contained in this
Mortgage or in the Mortgage Note or in the Loan Agreement shall for any
reason be held to be inapplicable. invalid, illegal or unenforceable in any
respect. such inapplicability. invalidity. illegality or unenforceability shall,
at the option of the Mortgagee. not affect any other provision of this Mortgage,
but this I?4ortgage shall be con^.trued as if such inapplicable, invalid, illegal
or unenforceable provision had never been contained herein or therein.
32. All notices hereunder shall be in writing and shall be deemed
to have been sufficiently given or served for all purposes when presented
personally or sent by telegraph (notice sent by telegraph shall be-deemed
given when such telegraph is received by the other party) or by registered
or certified mail with return receipt requested to any party hereto at its
address above stated or at such other address of which written notification
has been given to the other party. -
33. All of the grants. co~•enants, terms. provisions and conditions
herein shall run with the land and shall apply to, bind and inure to the benefit
of, the successors and assigns of the Mortgagor and the successors and assigns
~ of the Mortgagee.
34. That if this is a second or more inferior Mortgage upon the
mortgaged property, the Mortgagor shall faithfully and fully comply with and
(abide by each and every term, covenant and condition of any superior Mortgage
or Mortgages, and never permit the same to go into default. A default or
delinquency under any superior Mortgage or Mortgages shall automatically and
immediately constitute a default under. this Mortgage: The Mortgagee is hereby.
expressly authorized, at the option of the Mortgagee, to advance all sums -
necessary to keep any superior Mortgage or Mortgages in good standing and all
sums so advanced, together .with interest thereon, at the default rate provided
,for in the Note secured hereby shall be secured by the lien of this Mortgage.
~ The Mortgagor agrees that the Mortgagor shall not make any agreement with the
holder of any superior Mortgage which shall in any way modify, change, alter
or extend any of the-terms or conditions of such superior Mortgage, nor shall
the Mortgagor request or accept any future advances under such superior Mortgage,
without the express written consent of the Mortgagee. ~
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' 35. That the Mortgagor will, on the request of the Mortgagee, furnish
a written statement of the amount During on the obligation which this Mor .
secures and therein state whether or not Mortgagor claims any defenses tgage
or offsets thereto. The Mortgagee agrees that it will, on request of the Aortgagor
' furnish a written statement of the amount ov4?ing on the obligation which this
i ~ Mortgage secures and therein state whether or not 1liortgagor is current
• ~ in its payments and whether Mortgagee. has knowledge of any defaults hereunder
' specifying therein the nature of such defaults, if any.
~ 36. The Mortgagor covenants. that in the event the ownership of
said property or any part thereof becomes vested in a person other than
the Mort a or, the Mort a ee ma
g g g g y, without notice to the Mortgagor, deal
with such successor or successors in interest with reference to this htortgage
and the debt hereby secured in the same manner as with the rortgagor,
and may forbear to sue or ma extend i ~ -
$ y t me for payment of the debt secured
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Page 12. B00!(~U~ . ~AGf ~b
t.AW OFFICES. MEYER. WEISS. ROSE. ARKIN. lSMEPPARO A SMOCKETT. P.A.
FINANCIAL FEDERAL BUILOtNO. MIAMI BEACH, FLORIDA ~9t73-
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