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2. In the event a default occurs under the First Note or the
First Mortgage, the Mortgagor has the right, but is not obligated
to cure such default and deduct any sums paid to cure same from
the indebtedness evidenced by the Note.
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3. The payments required to be made under said Note may, at
the option of the Mortgagor, be paid directly to the holder of the
First Note to the extent of the total payments due under the First
Note, whether or not there has been any default thereunder, and any - .
and all such payments shall be credited against the indebtedness
under the Note and against the sums matured or first maturing
thereafter under the Note; thus, if the Mortgagor elects to pay the
monthly installments required in the provisions of said Note
directly to the holder of the First Note to the extent of the total
payments due under the First Note, the Mortgagor shall be relieved
of the obligation to pay such monthly payments to the holder of
the Note to such extent, and shall receive full credit for each such ;
payment made to the holder of the First Note as though each such
payment has been made to the holder of the Note.
4. Pleither the holder nor the maker of the -Note. shall make or
permit to be made any prepayments under the First Note or the
First Mortgage, except for the prior written consent of the other,
such consent will not be unreasonably withheld and it is hereby noted
by the Mortgagor and the Mortgagee that the First Note provides
for the privilege of prepayment with/~~~ialty; except as otherwise
provided therein.
5. The_Note and this Mortgage are executed pursuant to a
Contract for Purchase and Sale, executed on March 26, 1979 by the
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Seller Joseph F. Corso and Mae A. Corso, his wife, and the Buyer
Kralhinkle Photography Group,Inc.,a Florida Corporation.
Notwithstanding anything to the contrary contained in the
Contract for Sale and Purchase or in this Mortgage, the Mortgagor
and Mortgagee agree that the Mortgagor, their successors and assigns
shall not have the right to engage in secondary financing with
respect to the Mortgaged Premises without first obtaining written
consent from the Mortgagee.
Anything in the Contract for Sale and Purchase or in the Note
or in this Mortgage to the contrary notwithstanding, neither the -
Mortgagor nor any present or future partner in or of the 1?iortgagor
nor any other party or person is or small become liable jointly or
severally or otherwise for the payment of any money by reason of
anything contained in the Contract or in the Note or in this Mortgage.
The Mortgagor and Mortgagee understand that the Mortgagee has the
F remedy of foreclosing this Mortgage 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 Note and the First
Dortgage, as both modified or to be modified, and notwithstanding
whether the principal indebtedness under said First Note and First
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 Mort-
a gagor) has not, and will not, become liable for and does not and
x 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 Mortgage and First Note, as
4 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 holder of the First Note
or any party named in the First Mortgage, or the holder or beneficiary -
f of either this Mortgage or of the First Mortgage, or to anyone else, '
for principal, interest, or any other sums payable or to become payable
under or by reason of,.either of said Mortgages or the Note or the
First Note or any obligations or undertakings in connection with any
of said instruments.
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