HomeMy WebLinkAbout0706 20. TMt Mortgagor wiH not permit any otMr liens to be pled against tM wid premises and if any such liens are toed. wh4tMr paramount or sutwr~
donate to thq mortgages. Mortgages wiU Mw a cause to ba had said liens discharged immedbtsly.
21. Mortgages sMll Mw tM right to charge Mortgagor's account with Mortgagee for tM interest and principal payable as provided in tM promissory
note as such becomes dw in accordance therewith.
22. If tM Mortgagee ngwsts. Mortgages Mreby cowr?ants and agrees that Mortgages wiN furnish tM Mortgagee annually from tM date of this
mortgage ir?strument. unless some other date is agreed to batween tM parties in writirp. a certified audited financial statement of tM Mortgages and annual
complete operatirtg statements of Mortgages. If tM Mortgagoi s fiscal or calendar year shall not coincide with tM date Mrein specified. then tM date which
the Mortgagee sMll specify shall be controlHrp. Mortgages shall wpply Mortgagee with such other financial statements as Mortgagee may hom time to time
request.
23. It is agreed that nothing herein contained rwr any transaction related tMrsto sMll be construed or so operate as to require tM Mortgagor to pay
interest at a rate greater than it is now lawful in wch case to contract tor, or to make any payment or to do any act contrary to law: that if any clauses or
provisions Mrein contained operate Or would prospectively operate to invalidate thts Mortgage Or said Note in whole or in part. then, wch clauses and
provisions only sMll be Mld for naught, es though rtot Mrein contained. and tM remainder of this Mortgage sMll remain operstiw and in full force end effect.
24. It all or any part of tM mortgaged property shall bs damaged a taken through condemnation (which term when used in this mortgage shall in-
clude any damage w taking by any gowmmental authority. and arty transfer by private sale in lieu thereoq. either temporarily or permanently. tM entire in-
debtedness secured Mreby sMll at tM option o/ tM MortgagN. becomes immediately due and payable. TM Mortgages sMll be entitled to ell compensation
awards. and other payments or relief tMrefor and a Mreby authorized, at its option, to commence. appear in and prosecute, in its own a iM mortgagor's
name. any action a proceeding relating to any condemnation. and to attls or compromise any claim in connection therewith. All such compensation.
awards, damages. claims. rights of action and proceeds and tM right tMrsto are Mreby assigned by tM Mortgagor to tM Mortgages. who. after deducting
tnerefrom sH its expenses. including attorney s fees. may nNase any moneys so received by it without affecting tM lien of this mortgage or may apply iM
same in such manner ss tM Mortgages shell determine, to tM reduction of tM sums secured Mrsby. and to any prepayment charge Mrein provided. end any
balance of such moneys then remaining sMll be, paid to tM Mortgagor. TM Mortgagor agrees to execute such further assignments of any compensations.
awards. damages. claims. rights of action and proceeds as tM Mortgagee may require.
25. This mortgage shall be construed as s security agreement under tM Florida Uniform Commercial Coda.
26. Other provisions:
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