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1.13 Mort a ee's Performance of Defaults. If Mortgagor
defaults in t e payment o any tax, assessment, encumbrance
or-other imposition, in its obligation to furnish insurance
hereunder or in the performance or observance of any other
covenant, condition or term in this Mortgage or in any other
instrument securing the Note, Mortgagee may at its option
perform or observe the same, and all payments made (whether
such payments are regular or accelerated payments) and costs
and expenses incurred or paid by Mortgagee in connection
therewith shall become due and payable immediately, whether
or' not there be notice or demand. The amounts so incurred
or paid by Mortgagee, together with interest thereon at the
Default Rate as hereinafter defined from the date incurred
until paid by Mortgagor, shall be added to the indebtedness
and secured by the lien of this Mortgage. Nothing contained
herein shall be construed as requiring Mortgagee-to advance
or expend monies for any purposes mentioned in this para-
graph, or for any other purpose. Mortgagee is hereby
empowered to enter and to authorize others to enter upon the
Mortgaged Property or any part thereof for the purpose of
performing or observing any such defaulted covenant, condi-
tion or terms, without thereby becoming liable to Mortgagor
or any person in possession holding under Mortgagor.
1.14 Books and Records. Mortgagor shall keep and
maintain at all times complete, true and accurate books of
accounts and records reflecting the results of the operation
of the Mortgaged Property. Mortgagor shall furnish to
Mortgagee within thirty ( 30 ) days after the end of each
semi-annual accounting period of Mortgagor a balance sheet,
a statement of income and expenses and a statement of profit
and loss, both in reasonable detail, prepared in accordance
with generally accepted accounting principles and certified
by the Mortgagor. Mortgagor also shall furnish to Mortgagee
an annual financial statement within ninety (90) days after
the end of Mortgagor's fiscal year, containing the same ~
type of financial information required in the semi-annual
reports, certified by a certified public accountant satis-
factory to Mortgagee.
' 1.15 Estoppel Affidavits. Mortgagor, within ten (10)
days after written request ~ from Mortgagee, shall furnish a
written statement, duly acknowledged, setting forth the
unpaid principal of, and interest on, the Note, and any
other unpaid sums secured hereby, and whether or not any
offsets or defenses exist against such principal and inter-
est or other sums.
ARTICLE TWO
DEFAULTS
2.01 Event of Default. The term Event of Default,
wherever use in t is Mortgage, shall mean any one or more
of the following events: '
(a) Failure by Mortgagor to pay, as and when due and
payable, any installments of principal or interest due under
~ the Note, or any deposits for taxes and assessments or
~ insurance premiums due hereunder, or any other sums to be
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MwHONEY HAOLOW 6 /40AM5, 1401 AMERIFIRST BUIIOING, MIAM1, FL01710A 33131 TEL. (3051 356- 5550 ~ i
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