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HomeMy WebLinkAbout1841 .i - - 1 such additional instruments and further assurances of title and will do or cause to he done all such further ' acts and things as may be necess«ry fully to effectuate the intent of this Deed of Trust. 27. Mortgagor reserves the right to obtain a release from-the lien of-this Mortgage upon payment to Mortgagee of the release 'price of $4,211,000.00 Mortgagor shall not be entitled to any release if at the time of the request therefor a defualt shall have occurred hereunder or in any obligation secured hereby and such default shall not have been cured. At the time Mortgagor requests any release hereunder it will deliver to Mortgagee a certificate executed- by its President or Vice President and its Chief Financial Officer to the effect that no such default exists. The amount of the release price shall be credited _ to the installments of principal of the promissory note secured hereby in the inverse order of their maturity, - except that one-third of the release price shall be applied to such payments in the order of their maturity. All expenses incurred in connection with_any release, including, without limitation, M_ortgagee`s legal fees, shall be paid by Mortgagor. Notwithstanding any provision herein or in the Note, the total liability for interest or payments in the nature of interest shall not exceed the limits now imposed by the usury laws-of the State of-California. This Mortgage shall be construed according to and governed by the laws of Florida as to the property-encumbered hereby. 28. The terms "Mortgagor" and "Mortgagee" whenever used in this instrument shall include the _ successors, and assigns of the respective parties hereto ~ and their heirs, personal representatives, successors and ~ assigns. Whenever used the singular number shall include I the plural and the plural-the singular, and the use of any gender shall include all genders. 29. The indebtedness secured by this Mortgage is further secured by mortgages encumbering real property in various other counties in Florida, deeds of trust . conveying property in the_.States of Arizona and California, and assignments of the rents, issues and profits from, and security interests in the fixtures and equipment in and on the buildings and other improvements located_on, and certain personal property used or useful in connection with, all of such real property, all given by Mortgagor to Mortgagee. A default by Mortgagor in or under any or all of such other mortgages or deeds of trust or any or all of such other security instruments given by Mortgagor to Mortgagee as part of the, or as further or - additional, security for the Note, whether given simul- taneously or concurrently herewith or hereafter, shall, at the-option of Mortgagee, also constitute a default in or under th-is Mortgage; and if , as a result of, a default in 10 aQ~x3~.7 PAaE~838 ~ -