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5. Pay all expenses reasonably incurred bytthe Mortgagee ~ because of
failure of the Mortgagors to comply with the agreements in the note
or this nartgage, including reasonable attorneys' fees and appellate
costs and fees. The cost thereof, with interest thereon from the
date of payment at the same annual percentage rate as specified in the
note, shall also be secured by this mortgage. Any breach of the agree-
, ments in the note or this mortgage shall cause acceleration of the note
and the entire sum shall become due and owing at the Mortgagee's option.
Any monies advanced by the Mortgagee toward the obligation of the senior
mortgage herein shall cause acceleration of the note at the Hortgagee's
option.
FURTHER, If any payment provided for in the note is not paid within thirty
days after it becomes due, or if any agreement in this mortgage other than the agree-
ment to make the payments is breached, the entire unpaid principal balance. of that
note shall immediately become due at the option of the Mortgagee ,and the Mortgagee ~
may foreclose this mortgage in the manner provided by law, and have the mortgaged ~
property sold to satisfy ~r apply on the indebtedness hereby secured.
Any waiver of the right to accelerate upon any one default hereunder, shall
not be construed against the lendor, as a waiver of the right to exercise its accel- t
eration option upon any other default,
The rents and profits or the mortgaged property are also hereby mortgaged,
and if proceedings to foreclose this mortgage shall be instituted, the court having
jurisdiction thereof should appoint a receiver of the mortgaged property, and apply
those rents and profits to the indebtedness hereby secured, regardless of the solvency
of the Mortgagor. or the adequacy of the security.
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The Mortgagor shall not assign, nor allow any assumption of this mortgage
i' without prior notice to and approval by the Mortgagee
IN WITNESS WHEREOF, The said Mortgagor s hereunto set their hands
and seals the day and year first above written,
Signed, sealed and delivered
i n .ou~presence
Richard C. Bitch
Mary uise Ritchey
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L:S. ,
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~ This instrument was prepared by: Y
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~ Hedi Lerch
~ Security Pacific Finance Corp. r
o z3"l8 S. Congress Ave. Suite 1-C -E-
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f W. Palm Beach, F1 -3406
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