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- ADDEN[~DM to that certain Mortgage between SAN LOCIE gLAZA,
INC., a Florida corporation, as Mortgagor and CITIZENS FEDERAL SAVINC3.
AND LOAN ASSOCIATION OF ST. LOCIE CODNTY, as Mortgagee, dated
~#atwaL~c35. . 1 ~6K 80
- 13.. That the Mortgagor, issediately upon obtaining knowledge
of the institution o: any proceedings for the condeanation of the previses !
or any portion thereof, `?ill notify the Mortgagee of the pendency of
such proceedings. 'l4~e Mortgagee say participate in any such proceedings
and the Mortgagor fray tine, to tine gill deliver to the Mortgagee all _
instrusents requested•by it to pewit such participation. In the event
of such condesnation proceedings,~the award or- cospensation payable is_
hereby assigned to and shall be paid to the Mortgagee. 'the Mortgagee
shall be under no obligation to question the asount of any such award or
coepensation and way accept the sane in the asount in which the ease
shall be paid. In any each condesnatioa proceedings, the Mortgagee say
;be represented, by counsel selected by the Mortgagee, at_the expense of
the Mortgagor. lb3 proceeds of any award or co~pensation.so received
shall,. at the option of the Mortgagee, either be applied,_without presiuv;
to the prepayaent of the I~1ote in accordance with its terse and at the
rate of interest provided therein regardless of interest payable on the
- -award by the condesniag authority or be paid over to the Mortgagor for
restoration of the isproveaents. Any mounts applied to the reduction_
of the principax indebtedness shall be applied to future instal Lents of
principal in the invetcse order of their saturity:
14. That all property futures and equipsent described herein,
as well'as any other property now or hereafter delivered and/or installed
_ upon the presises, will be fully paid for and free fros all liens,
encumbrances, title retaining contracts and security interests when
delivered and/or installed upon the presises and it is agreed that such ~ -i
property, fixtures and equipsent shall be deeved to be realty and a part
of the freehold. -
~ - 15. This sortgage also encusbers all patents, tradesarks,
` trade eases and trade processes used by~the Mortgagor in connection with -
the sortgaged presises, and the good will of-any business canducted by
c Mortgagor an said presiaes. A foreclosure of this sortgage-(or a voluntary -
conveyance in lieu of foreclosure) shall include foreclosure and/or
transfer of all of Mortgagor's right, title and interest in -all of the -R
foregoing itess of intangible property.
16. The Mortgagor will keep adequate records and books of
account in accordance with generally accepted accounting principles and
will pewit the Mortgagee, its agents, accountants-and attorneys, to
visit and to discuss its affairs, finances and accounts-with the Mortgagor,
at such reasonable times as say be requested by the Mortgagee..
lI. That if the Mortgagor shall sake an assig~ent for the
benefit of creditors, or if a receiver be appointed for the Mortgagor or - '
any part of the mortgaged property, or if Mof~gagor files a petition in
bankruptcy, or is adjudicated a bankrupt or files any petition or
institutes any proceedings under the National Bankruptcy Act, then on
the happening of -any one. or rare of these events, this conveyance shall
becose absolute and the whole indebtedness secured hereby small issediately
_ becase due-and payable, at the option of the Mortgagee, and this sortgage
say tl-.ereupon be foreclosed for the whole of said coney, interest and
costs; or ~brtgagee oay foreclose. only as to the sus past due, without
inju*y to this Mortgage or the displacesents or iapairsent of the revainder
of_the lien thereof, and at such foreclosure sale the property shall be
sold subject to all retaining itevs of indebtedness; and Mortgagee say
again foreclose, in the save canner, as often as there say be any su= #
past due.