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HomeMy WebLinkAbout2481 r 20 That Mortgagor will not permit any other hens to be bled agarnat the said premises and d any such 'revs are filed. v•hether paramount or ~ubor ,r ,ate to this mortgage. Mortgages wdl have or cause to be had card Irons discharged immediately 21 Mortgagee shalt have the fight to charge Mortgagor's account with Mortgagee for the interest and prircrpat payable as prowded rn t~•A p+o;n:.;Rnry route as such becomes due in accordance therewith. 22. If the Mortgagee requests. Mortgagor hereby covenants and agrees that Mortgagor will (urn+sl? the Mortgagee annually from the date of this rnurtgage instrume+~t. unless some other data is agreed to between the parties in wnUng, a certihod audited financial statement of the Mortgagor and Ann:;al ~.:omplete operating statements of Mortgagor. If the Mortgagor's fiscal or calendar year shall not coincide with the date harem apecihed. then the date .vh+ch tr,e Mortgagee shall specify shall be controlling. Mortgagor shell supply Mortgages with such other financial stater<tents as Mortgagee may from time ra time : equeSt 23 It is agreed that nothing herein contained no? any transaction related thereto shall be construed or so operate as to require the Mortgagor to pay ntarest at a rate greater than it is now lawful in such case to contract for, or to make any payment Or to ti0 a:,y act contrary to law: the! i! any cia;,:.~. or i,ruvisions herein contained operate or would prospectively operate to invalidate this Mortgage a card Note ir; whole Or in part. then, such clauses and ;vuvisions only shall be held for naught. as though not harem contained, and the remainder of this Mortgage ~++r>:i remain op;rrauve and in full force and effect 24. It all or any pert of the mortgaged property shell bs damaged or taken through condemnation ;which term when usrxf in this mortg,~e sha=t in- . ~•.,de any damage or taking by any governmental authority. and any transfer by private sale m heu thereo8. airirer temporsnly or oermai:antly. tr.e entr;c rn- .:ebtedness secured hereby shah st the option of the Mortgages. become immediately due and payable. The Mortgagee shau be enta:sd rov!1 cempensat:an awards. and other payments or relief therefor and is hereby authorized. at its option, to commence. appear in arrf prosCCUte. in its ow~:t or tyre mnrigagor~s :carne. any action or proceeding relating to any condemnation. and to settle or compromise any claim in connect:;;ort therewith. Aii s•+ch ;,~n.at.~r;;3t.on. awards. damages. claims. rights of action and proceeds and the right thereto are hereby assigned by the Mortgagor to the Mortgagee. who. after dedi.cting therefrom all its expenses. including attorney's fees. may release any moneys so received by it without affecting the hen of this mortgage or may apply the same in such manner as the Mortgagee shell determine. to the reduction of the sums secured hereby. and to any prepayment charge barest:. provrried. anrf any na~ance of such moneys then remaining shall be paid to the Mortgagor. The Mortgagor agrees to execute Such further assignments of any compensations. ,ntiards. damages. claims. rights of action and proceeds as the Mortgagee may requ+re 25 This mortgage shall be construed as s security agreement under the Florida Uniform Commercial Code. 26 Other provisions 00[JIZNUATION OF LFJCGAL DESCRIPTION FROM PAGE 1 HERDOF'. Lot 2, Block 2, RAINIREE FQRE5T, an wnreeorded Plat, mare particularly described as fellows, to-wit: BDGINNING at a point that is 30 feet South of and 75 feet Fast of the Northwest corner of Section 33, Zbr"nLShip 35 South, Range 40 East, St. Lucie Oounty, Florida; thence rim Sout1? 8QO34' 46" East, parallel to the North line of said Section 33, a distarx.~e ? of 210.34 feet; thence South 0°27'15" West, parallel. to the hest ~ line of said~Section 33, a distance of 125.00 feet, to the P(?INr ~ BEGII~ING; thence South 834'46" East a distance of 176.40 feet; thence South 02°27'15" West, a distance of 125.00 feet; thence North 8034'46" West, a distance of 176.40 feet; thence North 02027'15" East, a distance of 125.00 feet, to the POINP OF BEX;Il~HVII~. i ~ - i s I a 3 :l 9 f i s P ri~c J~.1 PAGE _ - _ a#.