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Home My WebLink About0310 t2. TRANSFER OF PROPERTY That if the BORROWER sells or transfers the mortgaged property or is divested of title by judicial sale, Irvy ur other prucerd• togs, ur if action is instituted for foreclowrc of a wbr?rdinate mortgage, then LENDER may declare all indebtedness secured hereby to be accelerated and immediately due. and payable, utlless LENDER consents in writing to the sale or transfer and unless the transferee or grantee assumes the indebtedness secured, hereby in a form satisfactory to I ENDER. 13. FINANCIAL STATEMENT8 That within ninety (90) days alter completion of each fiscal dear of BORROWER, BORROWER and each endorser, maker, co-maker, and guarantor of any note secured hereby, shall deliver to LENDER its annual statement fur said fiscal yesr, prepared by a certifiai public accountant or such other perwn as may be agreed upon by LI:NDFR. 14. COMPLIANCE WITH RULES AND REGULATION8 That BORROWER will comply strictly with all laws and government rtgulations and rules affecting said property or its operation. 15. PROTECTION OF LENDER'S SECURITY 'f"hat if BORROWER fails to perform the covenants anti agreements contained in this mortgage, or if any action or proceeding is commenced which materially affects LENDER'S interest in the property, including lwt not limited to, eminent domain, insolvency, a?Je enforcement, or arrangements or proceedings involvins a bankrupt or decedent, then l_ENDF.R may that shall not be obligated to) make such appearances, disburse such sums and take such action as is necessary to protect LENDER'S security in- cluding, but not limited to, disbursement of reasonable attorney's fees and entry upon the property to make repairs. Any amounts disbursed by LENDER purwant to this paragraph, with interest thereon, shall become :?dditional indebtedness of BORROWER secured by this mortgage and BORROWER agrees without demand to repay such monies, which amounts shall bear interest from the date of dislxirsement at the rate of lOri16 per annum. Any payment made or action taken by LENDER hereunder shall not be deemed a waiver of I.ENDF.R'S right to declare the principal sum due hereunder to be immediately due and payable by reason of the default or violation by BORROWER of any of its covenants hereunder. tti. NON-WAIVER That BORROWER, and each and every maker, co•maker, endorser and guarantor of any note secured hereby, further covenant that granting any extension or extensions of the time of payment of any part or all of the total indebtedness or liability secured hereby, or taking other or additional security for payment thereof or releasing any portion of the security property from the lien hereof, or releasing any person, Grm or corporation from liability hereunder or under any instrument secured hereby, shall not affect this mortgage or the rights of LENDER hereunder, or operate as a release from any liability upon any p:.rt of the indebted- ness hereby secured, under any covenant herein contained. Any forbearance by LENDER in exercising any right or remedy here- urxfer, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy hereunder. 17. ACCELERATION It is further covenanted and made of the essence hereof that in case of default for thirty 130) days in the performance of any of the covenants herein on the part of BORROWER, then it shall be optional wish LENDER to consider all unmatured indebted- ness ar liability secured hereby, and acerucd interest thereon, as immediately due and payable, without demand and without notice or declaration of said option, and LENDER shall have the right fotthwilh to institute proxeedings to enforce the collection of all monies secured, hereby and'or to foreclose the lien hereof; provided, however, that in the event of default other than payment of principal and interest then it shall be optional with LENDER to immediately accelerate all indebtedness as hereinbefore described. 18. NON-EXCLUSIVE REMEDIES That no right or remedy granted to LENDER by this mortgage or by the note which it secures or by any related instrument is intended to be exclusive of any other right or remedy, but all rights of LENDER shall be cumulative and concurrent and shall be in addition to any granted by operation of law. 19. MAXIMUM INTERE8T Not withstanding any provisions herein or in any instrument now or hereafter related hereto, the total IiaMlities for payments in the nature of interest shall not exceed the limits now imposed by the usury laws of Florida or as those laws may allow higher interest rates in the future, and any amounts paid in excess thereof shall be applied to the unpaid principal balance. 2U. MISCELLANEOUS - It is covenanted and agreed that the terms "BORROWER" and "LENDER" for convenience herein employed, and any pronouns used in connection therewith, shall be construed to include the plural as well as the singular number, and the masculine, temininc " :?nd neuter gender, whenever and wherever the context so admits or requires; and that all covenants and obligations of the respec- rice parties heretr shall evend to and be obligatory upon their heirs, legal representatives, successors and assigns. All covenants and agreements by BORROWER shall be joint and several. This mortgage shall be tonstnred in accordance with the laws of the tierces of Florida. In the event any provision or clause of this mortgage or of the note which it secures conflicts with any applicable law, such a?nflict shall not affect other provisions of this mortgage or of the note which it secures which can be given effect with- out the conflicting provision. Paragraph titles arc used herein for convenience only and shall not affect the ec,nstruction of this mortgage. IN WITNESS WHEREOF, BORROWER has executed this mortgage nn the date hereinabove set forth. i { SWAIN GROVES, INC. E / S~~:n~'sealed and delivered ' the presence of: Bv__1 _ ~ _ - ~ ~/P~. ~ (SEAL) n t ~~~CCJ/ . __ISEAL) i ~ - _ c OvNTY OF • The foregoing instn,ment was acknowledged before me this - _ _ - _ day of 19- by x " ~ Notary Public State at Large j My Commission Expires r~\TE OF F'o ~ t ~ t)UNTY OF ~1 ~~SbOr0w1~~ foregoin instrument was acknowledged before me this I ~ day of ~ ~ ~ ~ r 19~ Q by ~ T Swa ~ ti , as - _ President ~wi , S+etet'ary of - ___SWAIN GR_OVES,_INC. a 0 r ~ - corporation, on behalf of the ation. r?• ' ~r r,. , Notary Public State at Large , ~i ~ •.C_'.! ~ ' My Commission Expires ~ ' ~ . =.i -a . Notary Pobtic. S~~f'$ipt~l,~ le fgP ~ BOOK~~J PdGf 310 MY Commission Fi{~ir~ Iy~XZ-~sa 1