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HomeMy WebLinkAbout1106 - - - - - e ~ 4 20. That Mortgpor will not permit any other liens to be filed sgsinst tM said promises and it any such liens an filed, wMth~r paramount or wba- dinate to this mortgage. Mortgagor wiM haw or cause so be had said liens discltargsd immediately. 21. Mortgagee shall haw tM rpht to charge Mortgagor's account with Mortgagee for tM interest and principal psyabN as provided in ttte promissory Hate as such bsrantea dW in iccoManCe therewith. 22. If the Mortgagee tequesq. Mortgagor hereby covenants and agrees that Mortgagor wiN tumiah the Mortgagee annually from she date of tftis mortgage instrument. unNss some other date is agreed to between tM parties in writing. a certified audited financial statement of tM Mortgagor and annual complete ops?etirq statements of Mortgagor. If tM Mortgagor's fiscal or calendar yqr shall not coincide with the date heroin speafied. then the date which the Mortgages shall specify dull be controlling. Mortgagor shall wpply Mortgagee with wch other firtartcial staumsnts as Mortgagee may from time to time regWSt. 23. It is agreed that nothing heroin contained nor any transaction related thsroto shell be construed or so operate as to require tits Mortgagor to pay interest at a rats greater than it is now lawful in such case to contract for. a to make any paymer. a to do any act contrary to law: that if any clauses a provisions herein contained operate or would prospsctiwly operets to invalidate this Mortgage or said Note in whoN a in part. then. wch clauses and provisions only shall >a kaki for naught. as though rat herein contained. and tfta remainder of this Mortgage cltaN remain operative and in furl force and effect. 24. It all or any part of fire mortgaged property dtall be damaged or taken through corxtsmnation (which term when used in this mortgage shell in- crude any damage or taking try any governrrtanbl authority. and any transfer by private eels in lieu thsrsofl. either tentporarify or permanently, the entiro in- debtednsss secured hereby dtall at tfte option of the Mortgagee. bsconte immediately due and payable. TM Mortgagee shall be entitled to all oorttpsnsation awards. and other payrnertt! or relief therefor and is hereby authorized. at its option. to commence. appear in and prosecute. in its own or the mortgsga'e . name. any action w procssdir~g relating to any condemnation. end to settle or compromise any claim in connection thsrowith. AN wch compensation. awards. damages, claims, rights of action end proceeds and tits right theroto are hereby assigned by the Mortgagor to the Mortgagee. who. ahsr deducting therehom ell its expenses. indudirtg attomsy's fees. may release any moneys ao received by it without affecting the lien of this mortgage or may apply the same in such manner as the Mortgagee shah determine. to the reduction of tM sums sscurod hereby. and to any prepayment charge heroin provided. and arty balance of such moneys then romaining shall be paid to the Mortgagor. The Mortgagor agrees to execute such further assignments of any compensations. awards. damages. claims. rights of action and proceeds as the Mortgagee may require. 25. This mortgage shall bs construed si s security agreement under the Florida Uniform Commercial Cods. 26. Other provisions: i I i E i f r i BALLOON MORTGA('i?