HomeMy WebLinkAbout1829 or the MORTGAGOR's name, any action or proceeding relating to any
condemnation, and to settle or compromise any claim in connection therewith. All
such compensation, awards, damages, claims, rights of action and proceeds and the
right thereto are, subject to the rights of superior mortgagees, hereby assigned by
the MORTGAGOR to the MORTGAGEE who, after deducting therefrom all Its
expenses Including attorney's fees, may celease any monies so received by It
without affecting the lien of this Mortgage or may apply the same in such manner
as the MORTGAGEE shall determine to the seduction of the sums secured hereby
and to any prepayment charge herein provided, and any balance of such monies 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 reasonably require.
17. This Mortgage shall also be construed as a security agreement under
the Florida Uniform Commercial Code and MORTGAGOR agrees to execute and
deliver, from time to time, such further instruments as MORTGAGEE may require
to accomplish for the purposes of this Mortgage, including, without limitation, '
Uniform Commercial Code financing statements and continuation documents.
18. Except for any notice required under applicable law to be given in
another manner, (a) any notice to MORTGAGOR provided for in this Mortgage
shall be given by mailing such notice by certified mail addressed to MORTGAGOR
at the address stated herein or at such other address as MORTGAGOR may
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designate by notice to MORTGAGEE as provided herein, and (b) any notice to I
MORTGAGEE shall be given by certified .mail, return receipt requested, to
MORTGAGEE's address stated herein or to such other address as MORTGAGEE
may designate by notice to MORTGAGOR as provided herein. Any notice provided
for in this Mortgage shall be deemed. to have been given to MORTGAGOR or
MORTGAGEE when given in the manner designated herein:
I~ If to MORTGAGOR: Octavio Buigas
S00 NW 16S Street Road
North Miami Beach, FL 33169
and Wilson Thomas
579 West North Avenue
Elmhurst, IL 60126
If to MORTGAGEE: Myron Lehman, Esq. .
Lehman do Wasserman
• 22S Millburn Avenue
Millburn, NJ 07041 ~
Copy to: George A. Costa . -
8S4 River Road •
-New NGlford, NJ 07646
19. Notwithstanding anything otherwise contained herein or inferred
herefrom to the contrary, in the event of default hereunder or under the promissory
note(s) secured hereby, the MORTGAGEE shall only be entitled to recover the
outstanding principal balance of said promissory note(s), together with any and all
interest, costs, advances or other expenses properly collectiblew~der this Mortgage
and said promissory note(s), solely from the collateral then encumbered by this
Mortgage, whether in kind or from the proceeds of a foreclosure or other sale
thereof, and there shall be no continuing personal or "deficiency" liability to
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