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HomeMy WebLinkAbout0680 • _ ~ 20. That Mortgagor will not permit any other liens to be filed against the said premises and if any such liens are bled. whether paramount or subor• dinate t0 this mortgage, Mortgages will haw or cause to be Aad said liens discharged immediately. 21 • Mortgagee shall haw the right to charge. Mortgagor's account with Mortgages for the interest and principal payable as provided in the promissory note as such becomes due in atcordanp therewith. 22. If the Mortgages requests. Mortgagor hereby covenants and agrees that Mortgagor will furnish the Mortgagee annually from the date of this morgage instrument, unless some other date a agreed to between the parties in wasting, a certified audited financial statement of the Mortgagor and annual complete operating ststsments of Mortgagor. If tM Mortgagoi s fiscal or calendar year shall not coincide with the date herein specified, then the date which the Mortgagee shall specify shall be controlfirtg. Mortgagor shall wpply Mortgages with such other financial statements as Mortgages may from time to time reRuest. 23. It is agreed that nothing herein contained nor any transaction related therstc sMlt fie construed or so operate as to require the Mortgagor to pay interest at a rate greater than it is now (awful in such case t0 Contract for. or to make any payment or to do any act contrary to law: that ii any clauses Or provisions herein contained operate or would prospectively operate to invalidate this Mortgage or said Note in whole or in port. then, wch clauses and provisions only shall be held for naught, as though not heroin contained. and tM remainder of this Mortgage shall remain operative and in full force and effect. 24. If all or any part of the mortgaged property shall be damaged a taken through cortdsmnation (which term when used in this mortgage shall in- crude any damage or taking by any gowmmentsl authority, and any transfer by private sale in lieu thereof), either temporarily w permanently, the entire in- debtedness secured hereby shall at the option of the Mortgagee. become immediately due and payable. The Mortgagee shall bs entitled to all compensation awards. and other payments or relief therefor and rs hereby authorized, at its option, to commence, appear in and prosecute. in its own or the mortgagor's name. any action or proceedirq relating to any condemnation, and to settle o? 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 has. may release any moneys so received by it without affecting the lien of this n+ortgage or may apply the same in such manner as the Mortgages shall determine, to the reduction of the wms secured hereby, and to any prepayment charge herein provided, and any balance of such moneys than remaining shall bs paid to the Mortgagor'. Ths Mortgagor agrees to execute such furtl?er assignments of any compensations. awards. damages. claims. rights of action and proceeds as the Mortgagee may require. 25. This mortgage shall bs construed as s security agreement under the Florida Uniform Commercial Code. 26. Other provisions: fEf 1 f t 't 1 $tt 9 r a BnDI13rrO PatiGE i