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terms, cove nants and conditions of a certain loan agreement
dated the date hereof entered into between Mortgagee and
Mortgagor (hereinafer referred to as the "Loan Agreeme~t"),
which Loan Agreement and all of the terms, covenants and
conditions thereof are by this reference incorporated herein
and made a part hereof with the same force and effect as if set
forth at length herein. The proceeds of the loan secured
hereby are to be advanced by Mortgagee to Mortgagor in
accordance with the provisions of the Loan Agreement.
Mortgagor shall observe and perform all of the terms, covenants
and conditions of the Loan Agreement on Mortgagor's part to be
observed or performed. All advances made and all indebtedness
arising and accruing under the Loan Agreement from time to time
shall be secured hereby. In. the event of any conflict or
ambiguity between the terms, covenants and conditions of this
Mortgage and the Loan Agreement, the terms, covenants and
conditions which shall enlarge the rights and remedies of
Mortgagee and the interest of Mortgagee in the Mortgaged
Property, afford Mortgagee greater financial security~in the
t~ortgaged Property and/or better assure payment of the Debt in
full, shall control. The foregoing provisions of this
paragraph 42 shall become null and void upon assignment of this
mortgage by Mortgagee to Crown Life Insurance Company, but
until such assignment shall be recorded in the Public Records
ot St. Lucie County, Florida, such provisions of this paragraph
42 shall be and remain in full force and effect. -
43. Future Advances. Upon request of Mortgagor, ~
I?lortgagee may, at its sole option, from time to ti~r~e, make
further advances to ~iortgagor, provided that all such further
advances are made within the time authorized by law, and the
maximum amount secured by this Mortgage and remaining unpaid,
including any such further advances, shall not at any time
exceed the principal sum of $2,000,000.00 plus interest thereon
and disbursements made for the payment of Taxes and insurance .
premium on policies covering the Mortgaged Property, with
! interest on such disbursements. Mortgagor shall execute and
; deliver to Mortgagee notes evidencing all such further advances
i made by Mortgagee, which notes shall contain such terms as
~ Mortgagee shall require. Mortgagor shall pay all such further
advances with interest, and the same, and the notes evidencing
~ the same, shall be secured by this Mortgage. All amounts
advanced under this paragraph shall be included in and ,
constitute a part of the Debt. All provisions of this Mortgage
shall appiy to all such further advances.
~ 45. During the term of the Mortgage loan Mortgagor
shall not erect buildings or other structures on the Premises
other than the improvements contempl~ated to be constructed as
set forth in the Loan Agreement, without the express written
aRproval of Crown Life Insurance Company.
~ 46. Default Interest. If payment of the Debt is ~
~ accelerated by the holder of the Note pursuant to the
~ provisions hereof or of the Note or if the Debt is not paid in
full when due, Mortgagor shall thereafter pay intertest on the
a rinci al balance of the Note or the
~ P P port ion thereof rema ining
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