HomeMy WebLinkAbout0422 conducted thereon, and owned by Mortgagor; (iii) all con-
. tract rights, general intangibles, actions and rights in
action, including without limitation thereto, all rights to
insurance proceeds; and (iv) all proceeds, products, re-
placements, additions, substitutions, renewals and acces- 4
sions of any of the foregoing. Mortgagor (Debtor) hereby
grants to Mortgagee (Secured Party) a security interest in
all fixtures, rights in action and personal property des-
cribed herein. This Mortgage is a self-operative security
agreement with respect to such property, but Mortgagor
agrees to execute and deliver on demand such other security
agreements, financing statements and other instruments as
Mortgagee may request in order to perfect its security
interest or to impose the lien hereof mo.e specifically upon
any of such property. Mortgagee shall have all the rights
and- remedies in addition to those specified herein of a
secured party under the Uniform Commercial_Code.
TO HAVE AND TO HOLD the Mortgaged Property and all
parts thereof unto Mortgagee, its successors and assigns, to
its own proper use and benefit forever, subject, however, to
the terms and conditions herein:
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PROVIDED, HOWEVER, that if Mortgagor shall promptly pay
or cause to be paid to Mortgagee the principal and interest
payable under the Note, at the times and in the manner
stipulated therein, herein,_ and in all other instruments
securing the Note, all without .any deduction or credit for
taxes or otheG similar charges paid by Mortgagor, and shall ~
~''~".':r keep, perform and observe all the covenants and promises in
the Note, and any renewal, extension or modification there-
i ~ ~ g of, and in this Mortgage and in all other instruments
securing the Note, to be kept, performed or observed by
Mortgagor, then this Mortgage, and all the properties,
-'~t-=-~ interest arrd rights hereby granted, conveyed and assigned
1 shall cease and be void, but shall otherwise remain in full
force and effect. `
";~,,,4 Mortgagor covenants and agrees with Mortgagee as i
{ follows: -
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~ ~rR ARTICLE ONE
3-~~ COVENANTS OF MORTGAGOR
crl _ _ .
1.01 Performance of Note, Mort a e~, etc. Mortgagor
shall perform, observe an comp y wit all provisions
hereof, of the Note and of every other instrument secufing
the Note, and will promptly pay to Mortgagee the principal
with interest thereon and all other sums required to be paid
by Mortgagor under the Note -and pursuant to the provisions
of this Mortgage and of every other instrument securing the
Note when payment shall become due, all without deduction or
credit for taxes or other similar charges paid by Mortgagor.
1.02 Warrant~of_Title. Mortgagor covenants and
warrants that it_is seized of an indefeasible estate in fee
simple in the Land and real property hereby mortgaged, has
good and absolute title to all existing personal property
hereby mortgaged or made subject to the security interest
hereby created and has good right, full power and lawful
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B00 ~ PACE 9~
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MAHONEY HAOLOW 6 ADAMS, 1401 AMEaiFiasr BUIlO1NG, MIAMI, FLORIDA 33131 TEL. (305) 35B- 5550 i~ )
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