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hereinafter defined, secured hereby. Nothing contained herein shall require
the holder of the promissory note secured hereby to perforna the terms and
provisions contained in the First Mortgage required to- be performed by the -
Mortgagor, his heirs and assigns, except the payment of installments of
regular scheduled installments of principal and interest but only in accordance _
with the terms and provisions ~ hereof . If the Mortgagor shall default in the
performance of any term or provision contained in this Mortgage, the Mort-
gagee shall not be obligated to pay any further prindpal or interest u,~der
the First Mortgage .
The Mortgagor ~c;v~nants and agrees not to exercise any right or privi-
lege of prepayment of the First Mortgage and further covenants and agrees
not to enter into any agreement with the holder of the First Mortgage modify-
ing or amending any of the provisions thereof without the prior written
consent of the Mortgagee hereunder. The Mortgagee reserves the right to
prepay the First Mortgage in whole or in part.
The Mortgagor shall promptly furnish to the Mortgagee copies of aU
notices of default which the holder of the First Mortgage shall give to the
Mortgagor -based upon the occurrence or alleged occurrence, of any default or
defaults in the First Mortgage.
If the Mortgagee shall default in any of the covenants, obligations and
agreements hereinabove set forth pertaining to the payment of regular sche-
duled payments of principal and interest from time to time due under the
First Mortgage, then the Mortgagor shall have the right to pay directly to the
holder of the First Mortgage such scheduled prindpal and/or interest payments
due or t4 become- due under the First Mortgage ("Direct Payments") . The
Mortgagor shall be given a credit for all Direct Payments made to the holder
of the First Mortgage against the payments next due under this Mortgage and
the promissory note secured hereby.
The term "Mortgagee" as used in this Mortgage shall initially refer to
Jack Cummings, as Trustee, until such time as Jack Cun~nnings, Trustee, shall
assign this Mortgage in the Public Records of St. Lucie County, Florida to a
successor so that in the event of the assignment of this Mortgage by Jack
Cummings, Trustee to a successor, Jack Cummings, Trustee shall be and
hereby is entirely freed and relieved of all of the obligations of the Mortgagee
subsequenty accruing.
THIS MORTGAGE is given as security for a certain promissory note in
the principal sum of Seven Hundred Forty Thousand (;740,000) Dollars ,
together with interest as therein stated, herein called the promissory .note,
i and if the Mortgagor shall pay to the Mortgagee said sum, and shall pay all
other sums provided to be paid by this Mortgage and the promissory note,
and shall perform, comply with and abide by all of the ~ stipulations, agree-
ments, conditions and covenants of the promissory note and of this Mortgage,
then this Mortgage and the estate hereby created shall cease and be null and
void . A copy of said promissory note is attached hereto as Exhibit A .
AND the Mortgagor hereby further covenants and agrees to pay promptly
when due the principal and interest and other sums of money provided for in
said promissory note and this Mortgage, or either; to pay all and singular the
taxes, assessments, levies, liabilities, obligations, and encumbrances of every
nature on said property (except the First Mortgage); to permit, commit- or
suffer no waste, impairment or deterioration of said land or the improvements
thereon at any time; to pay all costs, charges, and expenses, including
attorneys' fees through all trial and appellate levels and whether or .not
litigation results and title searches, reasonably incurred or paid by the Mort-
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