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HomeMy WebLinkAbout1773 . 20. That Mortgagor will not permit any other liens to be filed against the sard prsmrses and rf any such Irene are fried. whether paramount or subor ~c ~~ate to this mortgsgs. Mortgagor will haw or cause to be had said liens discharged immsdratsly. 21. Mortgsgse shall have the right to charge Mortgagor's account with Mortgagee for the interest and principal payable as provided in the promissory ~,:,ce as such becomes due in accordance therewith. 22. If the Mortgages requests. Mortgages hereby covenants and agrees that Mortgagor will furnish the Mortgagee annually from the date of this mortgage instrument. unbss some other date is sgrssd to between the parties rn writing, a certified audited financial statement of the Mortgagor and annual complete operating statements of Mortgagor. If the Mortgagor's fiscal a calendar year shall not coincide with the date herein >ipecified. then the date which cries Mortgagee shall specify shall be controlling. Mortgagor shall supply Mortgages with wch other financial statements as Mortgagee may from time to time request. 23. It is agreed that nothing heroin contained nor any transaction related thereto shell bs construed or so operate as to require the Mortgagor to pay .n;erest at a rate greater than it is now lawful in such case to contract for. Or to make any payment o? to d0 any act contrary to law: that if any clauses or provisions herein contained operate or would prospectively operates to invalidate this Mortgage a said Note in whole or in part. then. such clauses and provisions only shall be hekf for naught. as though not herein contained. end the remainder of this Mortgage shall remain operative and in full force and effect. 24. If all or any part of the mOrtgagsd property shall bs dsmagsd or taken through corxfemnation (which term when used in this mortgage shall in- clude any damage Or taking by any governmental authority. end any transfer by privets sab in lieu thereofl. either temporarily rx permanently, the entire in- debtedness secured hereby shall at the option Of the Mortgagee. become immediately due and psyabb. Ths Mortgagee shall be entitled to all compensation j awards. and other payments or relief therefor and is hereby authorusd. at its option. to commence. appear in and prosecute. in its own or the mortgagor's , name. any action or proceeding relating to any rwndemnstion. and to ssttb or compromise any claim in connection therewith. All such compensation. awards. damages, claims. rights of action and proceeds and the right thereto are hereby assigned by the Mortgagor to the Mortgagee. who. after deducting therefrom all its expenses. including attorney's fees, may rebase any moneys so received by it without effecting the lien of this mortgage or may apply the a me rn such manner as the Mortgagee shall determine. to the reduction of the sums secured hereby. and to any prepayment charge herein provided. and any ~atance of such moneys then remaining 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 be construed as s security agreement under the Flor?da Uniform Commercial Code. 26 Other provisions: s ti i t i 5 ;y 1 r y~ ~ 1 E ~v 4 a 2 g~~x327 P.~E1772 2 3 - - - - ~ r-