HomeMy WebLinkAbout1641 . ~ _ am x:
_ _
20. ~~itat Mortgagor will not permit any otMr liens to be filed against tM said premises and it any such liens are flied. whether paramount or sube•
donate to this mortgage. Mortgagor will haw a caua to bs had pb liana discharged immediately.
21. Mortgagee shaft haw tM right to charge Mortgagor s account with Mortgagee for the interest and principal payable as provided in the promissory
note as wch becomes dw in accedence therewith.
22. If the Mortgagee roquests. Mortgagor Mrsby covenants and agrees tMt Mortgagor wiU furnish the Mortgagee annually from the date of this
mortgage instrument, unless some other date is a~resd to between tM parties in writing, a mortified audited financial statement of the Mortgagor and annual ,
complete operating ststamsnts of Mortgagor. Ii fire Metgagor's fiscal a calendar yNr shall not coincide with the date Mrsin specified, then the date which
tree Mortgagee shall specify shall bs controlling. Mortgages shall wpply Mortgages with such other fu~anCial statements as Mortgages may hom time to time '
request.
23. It is agreed that nothirp herein contained nor any transaction related thsieto shall bs construed or so operate ss to require the Mortgagor to pay
~r,terest st a rats greater than it is now lawful in such case to contract for. a to make any payment a to do any act contrary to law: that if any clauses e
provisions herein contained operate or would prospectively operate t0 invalidate this Mortgage a said Nots in whole a in part. then, such clauses and
provisions only shall bs held for naught. ss though rat herein contained. and tM remainder of this Mortgage shall remain operative and in full force and effect.
24. If all a any part of the rrwrtgagsd property shall be damaged a taken through catdsmnation (which term when used in this mortgage shall in-
crude any damage a taking by any gowmmental suthoriry. and any transfer by private sale in lieu thereof). either temporarily a permanently. the entire in- i
debtedness secured hereby shall at the option of the Mortgages. become immediately due and payable. The Mortgagee shall bs entitled to all compensation
awards. arxl other payments a relief thsrofe and is hereby authorized. at its option, to commerKS, appear in and prosecute. in its own or the mortgage's
name. any action a proceedirp relating to arty condemnation. and to settle a compromise any claim in connection thsi'ewith. All such compensation. ~ !
awards. damages, claims. rights of action and proceeds and the right theroto aro hereby assigned by the Mortgage to the Mortgagee. who, aher deducting
tt~e?efrom all its expenses, including attorney's fees, may release any moneys so received by it without affscn'hg the lien of this mortgage or may apply the
same in such manner as the Mortgages shall determine, to the reduction of the moms secured hereby, end to any prepayment charge herein provided, and any
balance of such moneys then remaining shall be paid to the Mortgage. The Mortgage agrees to execute wch further assignments of any compensations.
a.vards. damages, claims. rights of action and proceeds ss the Mortgagee may require.
25. This mortgage shall bs construed as s security agreement under the Florida Unifem Commercial Code.
26. Other provisions:
t
~s
I
i
t
i
4.
i
i
i
i
i
3 E~1
K3~9 P~~EZ640 `