HomeMy WebLinkAbout0197 20. That Mortgagor wdl not permit any other Dens to be f~lsd against the said premises and ~t any such Dens are Bled, whether paramount or subor
d.nate to this mortgage. Mortgagor will have or cause to ba had said liens discharged ~mmad,ataly
21. Mortgages shall have the right to charge Mortgagor's account wrth Mortgagee for the interest and pnncrpsl payable as provided in the promissory
note as such becomes due in accordance thsrswiih
22. If the Mortgages requests. Mortgagor hereby covenants end agrees that Mortgagor will furnish the Mortgagee annually from the date of this
mortgage instrument. unless some other date is agreed to between the parties in writing. a certified audited financial statement of the Mortgagor and annual
complete operating statements of Mortgagor. It the Mortgagor's fiscal or calendar year shall not coincide with the date herein specified. then ihs date which
the Mortgagee shall specify shall bs controllap. Mortgagor shall wpply Mortgagee with such other financial statements as Mortgages may from rims to time
request.
23. It is agreed that nothing herein contained nor any transaction related thereto shall bs construed or so operate as to require the Mortgagor to pay
interest at a rate greater than it is now lawful in such case to contract tor, or to make any payment Or to do any act contrary to Isw: that if any clauses or
prov~swns herein contained operate or would prospectively operate to invalidate this Mortgage a said Note rn whole o? in part, then. such clauses end
provisions only shall be held for naught. as though not herein contained, and the remainder of this Mortgage shall remain operative and in full force and affect.
24. If all or any part of the mortgaged p?opsrty shall bs damaged or taken through condemnation (which term when used in this mortgage shall in•
elude any damage or taking by arty governmental authority. and any transfer by private sale in Ir6u thereof), either temporarily or permanently. the entire in-
debtedness secured hereby shall at the option of the Mortgages. become immediately due and payabb. The Mortgagee shall be entitled to all compensation
awards. and other payments or relief thorsfor and is hereby authorised. at its option. to commence, appear in and prosecute. in its own or the mortgagor s
name, any action Or proceeding relating to any condemnation. and to settle or comprom?se any claim in connection therewith. All such compensation.
awards. damages. claims, rights of action and proceeds and the right thereto are hereby assigned by the Mortgagor to the Mortgagee. who, aher deducting
therefrom all its expenses. including attorney s tees. may release any moneys so received by it without affecting the lien of this mortgage or may apply the
same in such manner as the Mortgages shall determine, to the reduction of the sums secured hereby. and to any prepayment charge harem provided. and any
balance of sueh moneys then remaining shall. be paid to the Mortgagor. The Mortgagor agrees to execute such further assignments of any compensations.
awards, damages. claims. rights of action and proceeds as the Mortgagee may require.
25. This mortgage shall be construed as a security agreement under the Florida Um/orm Commercial Code
26. Other provisions'
Ii
I
~3~z p~ 1~
6 3
" ~ ~ ~ _
A