HomeMy WebLinkAbout0553 ~ ~ ..r-
20. That Mortgagor will not permit any other liens to be filed against tM said premises and if any such liens are filed. whether paramount or subor•
dirate to this mortgage. Mortgages will haw Ot cause to be had said liens discharged immediately.
21. Mortgagee shall have the rpht to charge Mortgagor's account with Mortgagee for the interest and principal payable as provided in the promissory
note as such becomes dw in accordance therewith.
22. If the Mortgagee requests. Mortgages hereby covenants and agrees that Mortgagor will famish the Mortgagee annually from 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 annwl
completes operating statements of Mortgagor. If the Mortgagor's fiscal or calendar year shall not coincide with the date herein specified, then the date which
the Mortgagee shall specify shell bs controlling. Mortgagor shell wpply Mortgages with such other financial statements ss Mortgagee may from time to time
request. ,
23. It is agreed that nothing herein contained nor any transaction related thereto shall bs construed or so operate as to require the Mortgagor to pay
interest at a rate greater than it is now lawful in such case to 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 part, then, such clauses and
provisions only shall be held for naught, as though not herein contained, and the remainder of this Mortgage shalt remain operative and in full force and effect.
24. If atl or any part of the mortgaged property shall bs damaged or taken through condemnation (which term when used in this mortgage shall in-
clude any damage or taking by any govemmantal authority. and any transfer by privets ask in lieu thereofl. either temporarily or permanently. the entire in-
debtedness secured hereby shall st the option of the Mortgages. become immsdiststy dw and payable. The Mortgages shall be entitled to all compensation
awards, and other payments or relief therefor and is hereby authorized. at its option. to cornmer?cs. appear in and prosecute. in its own or the. mortgagor a
name. any action or proceeding relating to any condemnation, end to ssttk or compromise any ckim in connection therewith. All such compensation.
awards. damages. claims. rights of action end proceeds-and the right thereto are hereby sssigngd by the Mortgagor to the Mortgagee, who. aher deducting
therefrom all its expenses. including attorney's foss. may release any moneys so received by it without aHacting the lien of this mortgage or may apply the
same in such manner as the Mortgages shall determine. to tM reduction of the wms secured hereby. and to any prepayment charge herein provided. and any
balance 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 ss the Mortgagee may require.
25. This mortgage shall be construed as a security agreement under the Florida Uniform Commercial Code.
26. Other provisions=
I
E
i
I
5
Bc~K t~ PacE 553.
3
i