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13. In the event of any default under the terms and conditions of the loan
Agreement, subject to the Loan Agreement, this conveyance shall become absolute
and the entire indebtedness secured hereby may, at the option of Mortgagee, be
accelerated and become immediately due and payable, and this mortgage may then
be foreclosed for the whole of said indebtedness, interest and other monies owed
to Mortgagee, and/or Mortgagee may take any and all other action provided hereun-
der or pursue any other remedy provided by law.
14. Failure of Mortgagee to declare any default immediately upon occurrence
thereof or delay in taking any action in connection therewith shall not waive
such default, but Mortgagee shall have the right to declare any such default at
any time and take such action as may be lawful or authorized hereunder. Fur-
thermore, the rights and remedies ~f Mortgagee as provided herein or in the Loan
Agreement or Promissory Note shall be cumulative and concurrent, and may be
pursued singly, successively, or together at the sole discretion of Mortgagee,
and may be exercised as often as occasion therefor shall occur; and the failure
to exercise any such right or remedy shall in no event be construed as a waiver
or release of same.
15. In the event of any default in the terms and conditions of this mortgage or
the Promissory Note, Mortgagor shall, immediately upon demand by Mortgagee, pay
Mortgagee all costs .and expenses incurred by Mortgagee of any kind or nature
whatsoever in connection with such default, or in connection with the fore-
closure of this ngrtgage, including all attorneys' fees of tortgagee, whether or
not incurred in any legal proceedings. All monies paid to Mortgagee pursuant to
the Promissory Note or pursuant to this nbrtgage shall be applied first towards
any such costs of Mortgagee, then to accrued interest, then in reduction of the
principal indebtedness secured by this Mortgage. No such mgnies, and no pre-
payments, shall reduce the anbunt of any periodic payments required pursuant to
the Promissory Note, but same shall be applied toward the last ensuing pay- _
ment(s).
16. Upon request by Mortgagor, Mortgagee may, at its sole discretion, and at
any time not more than 20 years frm the date of this nb rtgage, make future ad-
vances to Mortgagor. -Such future advances, with interest thereon, shall be se-
cured by this mortgage when evidenced by promissory notes stating that same are
secured by this mortgage. At no time shall the principal amb unt of the indebt-
edness secured by this mortgage, not including sums advanced in accordance here-
with to protect the security of this ma rtgage, exceed the original amount of the
Promissory Note secured by this mortgage plus $2,000,000.00.
17. This mortgage shall be binding upon and inure to the benefit of the parties
hereto and their respective heirs, executors, administrators, legal representa-
j tives, successors, and assigns.
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18. Where the context requires, the use of any gender shall include all genders
and the use of the singular shall include the plural. If more than one person
or entity is named as Mprtgagor and miaker of the Promissory Note,-all obli-
gations hereunder of Mortgagor shall be joint and several among all such part-
, ies.
19. All notices or other written information or consents which are required or
contemplated to be sent or~delivered to any party shall be delivered to the
party or mailed by First Class Mail, to the following addresses, or such other
addresses as the parties may indicate to each other from time to time:
TO MORTGAGOR JEROME H. KAPLAN
Kent Development, Ltd.
4322 N.E. 5th Avenue
~ - Fort Lauderdale, Florida 33334
Copy To LAWRENCE H. GOLDBERG, ESQ.
Goldberg, Young, Goldberg & Borkson, P.A.
2881 East Commercial Boulevard
Fort Lauderdale, Florida 33308
TO MORTGAGEE HAMPSTAD MORTGAGE CORPORATION, LTD.,
an Alberta corporation
c/o HYMAN BLOOM
4770 Kent Avenue, Suite 100
tontreal , Quebec, Canada H3W1H2
and
' c/o MELVYN HODES
r~~~ 2001 University Street
Bt~KJ27 PAGE~~ Montreal , Quebec, Canada H3A2A6