HomeMy WebLinkAbout0074 20.. That Mortgagor will not permit any othw .tens to be filed against the said premises end if any .uch liens are filed, whether paramount or subor•
d,na[s to this mortgage, Mortgages will haw or cause to M had said liens discharged immediately.
21. Mortgages shall haw tM right to d[arg. Mortgage's account with Mortgages for the interest end principal payable as provided in the promissory
note as such becomes due in accordanq therewith.
22. If tM Mortgages requests, Mortgagor hereby covenants and agrees tMt Mortgagor will furnish the Mortgages annually from the date of this
mortgage instrument, unless some other date is agreed to between tM parties in writing. a certified audited financial sritsmsnt of the Mortgagor and annual
complete operating statsmsnri of Mortgagor. lithe Mortgage's fiscal or cahndar year shall not coincide with tM date Mrein specified, then the date which
the Mortgagee shall specify shall be controlling. Mortgagor shall wpply Mortgagee with such other financial statemenri as Mortgages may from time to time
request.
23. It is agreed that nothing herein contained nor any trarnaction related thereto shall be 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, o? to melee any payment or to do any act contrary to law: that if any clauses or
provisions herein contained operate or would prospectively operete to invalidate this Mortgage or acid Note in whole o? in part, then. wch clauses and
provisions only shall bs held for naught. as though not herein contained, and the remainder of this Mortgage shall remain operative and in full force and affect.
24. If alt 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 gowmmental authority, and arty transfer by private sale in lieu thsrsofl. either temporarily or permanently. the entire in-
debtedness securod hereby shall at the option of tM Mortgagee, become immediately due and payable. The Mortgages shall bs entitled to all compensation
awards, and other paymsnri or rolisf thsrofor and is hereby authorized, at its option, to commence, appear in and prosecute, in iri own or the mortgagor's
name. any action or proceeding relating to any condemnation. and to settle or compromise any claim in connection therewith. All such compensation.
awards, damages, daims. righri of action and proceeds and the right thsroto ors hereby assigned by the Mortgagor to the Mortgagee, who. after deducting
therefrom all iri expenses, including attomsy's fees. may rolease any moneys so received by it without affecting the lien of this mortgage or may apply the
same in such manner as the Mortgages shall determine, to the reduction of the wms secured heroby. and to any prepayment charge herein provided. end any
balance of wch moneys then remaining shall bs paid to the Mortgagor. Ths Mortgagor agrees to execute wch further assignments of any compensations.
awards. damages. claims, rights of action and proceeds as the Mortgagee may require.
25. This mortgage shall bs construed as a security agreement under the Florida Uniform Commercial Code.
2ti. Other provisions: QONfiZN[~TION OF IrDGAL DFSCRII~TION FROM PAGE 1 I~C7F.
Lot 2, Block 2, RAINl'R~ FOREST, an unrecorded Plat, more particltlarly
described as fiollows, to-wit: -
SDGIIIJING at a point that is 30 feet South of and 75 feet East
of the Northwest corner of Section 33, Zbwaship 35 South, Range
40 East, St. Lucie aunty, Florida; thence rtm South 89p34' 46"
East, parallel to the rbrth line of said Section 33,~a distance
of 210.34 feet; thence South OZp27'15" West, parallel tro the West
line of said Sectirn 33, a distance of 125.00 feet, bo the POINP
OF B~1II~; thence South 8¢34' 46" East a distance of 176.40
feet; thence South OZo27' 15" West, a distance of 125.00 feet;
thence North 834'46" WESt, a distance of 176.40 feet; thence
North 02'27'15" East, a distance of 125.00 feet, to the POINT
~~i. v
TOGFTF>IIt WI~4i an easenent for ingress and egress fray Raintree
Ebrest Property Owners' Association, Inc., to the Nbrtgagors,
as to Lots 2 and 8, Block 2, RAINI~ F~S'T.
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