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23. Both principal and interest on the Frowiasory note secured.
.hereunder are payable in lawful wwney of the United States of Aaerica
without deduction for or on account of any present or future taze3,
duties or. other charges levied or imposed oa the cote or the proceeds -
thereof , or upon the maker or lalder thsreof by any government, or any
instrvwentalit~, authority ar political subdivision thereof. Ii~rtgsgor
agrees, upon-the request of the -Mortgagee, to pay all such taxes, duties -
and other Charges in addition to principal snd interest on the prodissorp
note, exclusive of United States incose taxes and Florida incowe ta~osa.
Failure to do .so shall constitate a default under the fetus of this
wortgage. .
- 24, In the event of foreclosure. of this wortgage or other - t
- transfer of title or assigr~aent of the sortgaged prewises in extinguish- '
scent in whole or its part of the debt secured hereby; all right, title, .
and interest of the Mortgagor in and -to all policies of insurance, -
required by this wortgage shall inure to the-benefit of and pass to the
successor in `interest to the Mortgagor or the purchaser or grantee of
the wortgaged prewises...
25. tbrtgagor covenants and agrees forthwith to provide -
Mortgagee with true copies of all leases sow or hereafter entered into
by Mortgagor in regard to the wortgaged praxises. •
' 27. '!fiat it is the intent of the parties hereto that this
instruwent shall constitute a security agreetent within the weaning of
.the Uniforw Cos~xercial Code as enacted in the State-of Florida with
- respect to the collateral, and. in the event of-any default under this _
Mortgage, the holder shall-have the option, pursuant .to Section 679- F -
SO1{~) of the Florida Unifora Cowiercial Code, of proceeding as to both
the realty and the collateral in accordance with its rights and rewedies
in respect of such realtys in which event the default provisions of the ~
Uniforw Cowwercial Code shall-sot apply; and in the event the holder ~
elects to proceed with. respect to the-collateral separately frow such ~;L",
realty, ten (10) days notice of the sale of the collateral shall Conat- -
and- be deewed reasonable notice. , fir. ~ .
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Witness: - SAN LUCTS PLAZA, INC. ~~~'~~~~t=~'~
- a Florida c po tion _ '~s~~.; j-
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- Pres a , ja J
Attest N t
Its Secrete - . '~s•{
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- ~ JIIN 28 - ~ 2 25 -
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CIEItK C1RlXNT COURT -
OfCOlt9 YER1itf4_~ -
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