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3.04 Invalid Provisions to Affect No Others. In the
event that any of the covenants, agreements, terms or
provisions contained in the Note, this Mortgage or any other
instrument securing the Note shall be invalid, illegal or 1
unenforceable in any respect, the validity of the remaining
covenants, agreements, terms or provisions contained herein
and ~in the Note and any other instrument securing the Note
shall be in no way affected, prejudiced or disturbed there-
by. _ ~ i
3.05 Ch~an~es, etc. Neither this Mortgage nor any term
hereof may -be c~iange~, waived, discharged or terminated
orally, or by any action or inaction, but only by an instru-
ment in writing signed by the party against which enforce-
ment of the change, waiver, discharge or termination is '
sought. Any agreement hereafter made by Mortgagor and
Mortgagee relating to this Mortgage shall be superior to the
rights of the holder of any intervening lien or encumbrance.
3.06 Governing Law. This Mortgage is made by Mortgagor
with reference to the-laws of Florida, and shall be con-
strued, interpreted, enforced and governed by and in
accordance with such laws.
3.07 Default Rate. The .'Default Rate. shall be 24.85$
per annum, unless such Rate shall exceed the maximum limita-
tion permitted under Florida law at the time of default, in
which case the Default Rate shall be the maximum amount
permitted by Florida law. ~ - ,
ARTICLE FOUR
LENDING PROVISIONS
4.01 Breach of Loan Agreement and Other Documents.
Notwithstanding anything to the contrary contained in this
Mortgage or in the Note, or in any other instrument securing _
the loan evidenced by such Note, Mortgagee may at its option
declare the entire indebtedness secured hereby, and all
i interest thereon and all advances made by Mortgagee here-
under, immediately due and- payable and/or exercise all
~ additional rights accruing to it under this Mortgage upon an
~ Event of Default, or in the event of a breach by Mortgagor
~ of any covenant contained in this Mortgage, the Note, or in
i the Loan Agreement of even date between Mortgagor and
Mortgagee, which Loan Agreement is, by this reference,
herein incorporated to the same extent and effect as though
it were set forth herein in full. The proceeds of the loan
secured hereby are to be disbursed by Mortgagee to Mortgagor
in accordance with the provisions contained in the Loan
Agreement. All advances and indebtedness arising and
accruing under the Loan Agreement from time to time shall be
secured hereby. A breach of a covenant in any of the
documents referred to above shall be deemed an Event of
Default hereunder and .upon the occurrence of an Event of
Default Mortgagee may, at its option, cease making advances
to Mortgagor and take such action as it may deem necessary
to protect its security: In the event of a conflict between
the terms hereof and the Loan Agreement, the terms of the
document which shall eihher enlarge the interest of Mort-
, gagee in the Mortgaged Property, grant to Mortgagee greater
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MAMONEY HADLDW b ADAMS, (401 AMERIFIRST BUILDING, MIAM1, FLORIDA 33131 TE~.(305) 358-5550
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