HomeMy WebLinkAbout0004 S
•
20. That Mortgagor will not permit any otMr liens to be filed against the said premises and i( any such liens are filed. whether paramount or wbor•
d~nats to this mortgage, Mortgages will haw or cause to be had said liens discharged immediatery.
21 • . Mortgagee shall haw tM right to charge Mortgagor's account with Mortgagee for the interest and principal payable as provided in tha promissory
note as such becomes due in accordance therewith.
22. If the Mortgages roqussri. Mortgagor hereby covenants and agrees that Mortgagor will fu?nish the Mortgagee annualry trom the date of this
mortgage instrument, unless some other date is agreed to between the parties in writing, a certified audited financial statement of the Mortgagor and annual
complete operating statemenri of Mortgagor. If the Mortgagor's fiscal a calendar year shall not coincide with the date herein specified. then the date which
the Mortgagee shall specify shall bs controlling. Mortgages shall wppry Mortgagee with such other financial statements ss Mortgages may hom time to time
r@quest.
23. It is agreed that nothing herein contained nor any transaction related thereto shall be construed or so operate as to require the Mortgagor to pay
interest st a rats greater than it is now lawful in such case to contract tor, or to make any payment or to do any act contrary to law: that if any clauses w
provisions herein contained operots or would prospectively operate to invalidate this Mortgage or said Nots in whole or in pari. then, wch clauses and
provisions only shall bs herd for naught. as though not heroin contained, and the remainder of this Mortgage shall remain operative and in full force and affect.
24. If all or any part of the rrwrtgsged property shall bs damaged or taken through condemnation (which term when used in this mortgage shall ir?-
clude any damage or taking by any govemmsntal authority, and any transfer by private sale in lieu thereof), eitMr tsmporanry or permanentry. the entiro in-
debtedness secured hereby shall at the option of the Mortgagee. become immediatsry due aril payable. The Mortgagee shall be antitbd to all compensation
awards, and other payments a relisi thsrofor and is hereby authorized. at its option, to commence, appear in and prosecute. in its own or the mortgagor's
name. any action or proceeding relating to any cortdsmnstion, and to settle or compromise ar?y claim in connection therewith. All such compensation.
awards. damages. claims, righri of action and proceeds aril tits right theeoto are hereby assigned by the Mortgagor to the Mortgages, who, after deducting
therefrom all iri expenses, including attorney s less, may release any moneys so received by it without affecting the lien of this nwrtgage or may apply the
same in such manner as the Mortgagee shall determine, to the reduction of the sums secured hereby, and to any prepayment charge herein provided. and any
balance of such moneys then remaining shall bs paid to the Mortgago?. The Mortgagor agrees to execute such further assignments of any compensations.
awards. damages, claims, rights of action and proceeds as tha Mortgagee may require.
25. This mortgage shall be construed as a security agreement under the Florida Uniform Commercial Code.
26. Other provisions:
BOOK t~ PAGE
3
r