HomeMy WebLinkAbout2340 RIDER, attaches) t and made a part of that certain MORTGAGE
dated Apr11 26, 19 ~ 1979, by and between CAPRICORN
HOLDING COMPANY,~ oftgagor, and SOUTHEAST MORTGAGE COMPANY,
Mortgagee.
C o v e n a n t s:
13. To further secure said indebtedness Mortgagor hereby
assigns to Mortgagee any award of damages made in connection with
any condemnation for public use of or injury to said property or
any part thereof and any award of damages arising from any cause of
action for injury or damages to said property or any part thereof.
Mortgagee is authorized and- empowered (but not required) to
collect and receive any such award and is authorized to apply it in i
whole or in part in reduction of the then outstanding debt secured '
by this mortgage, notwithstanding the fact that the same may not ~
then be due and payable . Any amounts so applied to principal shall
be applied to the principal last maturing thereon. Mortgagor
agrees to execute such further assignments of any such awards as
Mortgagee may require.
14. Notwithstanding any provision herein or in the note
secured hereby, the total liability for payments in the nature of
interest shall not exceed the limits now imposed by the usury laws
of Florida, and any excess portion of such charges that may have
been prepaid shall be refunded to the makers of said Note by
application of the amount involved against the sums then due
thereunder in the inverse order of their maturity, but such
crediting shall not cure or waive any default occurring hereunder.
_ 15. It is further agreed and understood that the Mortgagor ~
herein, its successors and assigns, will furnish said Mortgagee, ~
its successors and assigns, with an itemized statement in form ;
acceptable to Mortgagee of annual income and expenses on the
property hereinbefore described within one hundred and twenty
(120) days after the close of each fiscal year hereof covering the
preceding fiscal year, and shall further permit inspection of the
mortgaged premises by the Mortgagee or its agent at reasonable
times.
16. Failure of Mortgagee to declare any default immediately
upon occurrence thereof or delay in taking any action in connec-
tion therewith shall not waive such default, but Mortgagee shall
have the right to declare any such default at any time and take
such action as may be lawful or authorized hereunder, either- in
~ law or in equity.
i 17. The Mortgagor promises to pay all costs, expenses and
attorney's fees incurred by the Mortgagee in any proceeding for
collection of the debt secured hereby, in any foreclosure of this
mortgage, in protecting or sustaining the lien of this mortgage,
f or in any litigation or controversy arising from or connected with
said note or this mortgage or the property secured hereby,
E including appellate proceedings, together with interest at the
maximum rate permissible under Florida law, and the Mortgagor
agrees that any such sums and the interest thereon shall be a lien
- on said premises and shall be secured by this mortgage.
18. If the property described herein is ever designated as
part of a flood plain area or any other designation which would
make-such property subject to the Federal Flood Insurance Act of
- 1968, as amended heretofore or hereafter, or any similar law, then
_ Mortgagor agrees to do everything within its power to comply with
the requirements of said law (including all regulations and other
requirements applicable thereto) in order that flood insurance
will be available to said Mortgagor. Thereafter, Mortgagor agrees
_ to obtain for the benefit of Mortgagee an insurance policy
N satisfactory to Mortgagee in all respects (including amount,
insurer, form and otherwise), to deliver such policy to Mortgagee
as soon as possible, to pay all expenses in connection therewith
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