HomeMy WebLinkAbout2218BALLOON MORTGAGE
20 That Mortgages wiN not permit any other hens to be filed against the said premises and if any such hens are bled. whether paramount or subor
n~nate to this mortgage. Mortgages will Mw Or cause to be had said liens discharged immediately.
21 Mortgagee shall haw tM right to charge Mortgagor's account with Mortgages for the interest and principal payable as provided in the promissory
~~ote as such becomes dw in accordariq therewith.
22 If the Mortgagee requests. Mortgages hereby covenants and agrees that Mortgagor will furnish the Mortgagee annually from the date of this
~nortgags instrument. unless some other data is agreed to betweM the parties in writing, a Certified audited financial statement of the Mortgagor and annual
complete operating statements of Mortgages. It tM Mortgagor's fiscal a calendar year shall not coincide with the date herein iipecified. then the date which
the Mortgagee shall specify sMll be controlluig. Mortgages shall wpply Mortgages with such other financial ststemsnts as Mortgages may from time to time
request
23 It is agreed that nothing herein contained nw any transaction rNated thereto shall be construed or so operate ss to require the Mortgagor to pay
~~terest at a rate greater than it is now lawful in wch case to contract fw. a to make any payment or to do any act contrary to Isw: that if any clauses or
pro~~sions herein contained operate or woukf prospsctiwly operate to invatidats this Mortgage or said Nots in whoh', or in part. then. wch clauses and
t~rov~sions ony shall bs held for naught. as though not herein contained. end the remainder of this Mortgage shall remain operative and m full force and effect.
24 If all or any part of the mortgaged property shall b0 damaged w taken through condemnation (which term when used in this mortgage shall in-
c!ude any damage Or tabng by arty governmental authority. and any transfer by private sale in lieu ihersot-, either temporarily or permanently, the entire in-
deDtedness secured hereby shall at the option of the Mortgagee. become immediately due and payable. Ths Mortgagee shall be entitled to all compensation
awards. and other payments or relief therefor 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 settkt+ Or compromise 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. after deducting
inerefrom all its expenses. including attorney s tees. may please any moneys so received by it without affecting the lien of this mortgage or may apply the
same in such manner as the Mortgages shah determine. to the reduction of the wms secured hereby, snd to any prepayment charge herein provided. and any
balance of wch 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 end proceeds as the Mortgagee may regwre
25 This mortgage shall be construed as a security agreement under the Florida Uniform Commercial Code.
26 Other provisions
IN WTi'1~S.S W~F, the Mortgagor has executed these presents under seal the day
and year first above wri-tten.
Signed, Sealed and Delivered in the ~S IS A BAT~.DON MDR~C~AiGE
presence of:
,/i ~l~,i(~,. ~ ~ ~-17s~ • (SEAL)
C. G~~~
~' ROY P.
ST~o~ ~
~.~ ~ sT. LL~IE ~
- _ _ .~:{
I ~Y G~IFY that rn this day personally appeared before tne, an officer duly
~thori.zed to admlinister oaths and take acla>IOwledgec>~ts , ROY P . 'IHQ~.S , JR. , to me known
be the person described in and who executed the foregoi.r~g instnment , and he aclaiowledged
More me that he acknowledged before IDe that they executed the sane.
IN WTIi~S.S 4k~tDOF, I have hereunto set illy hand and affixed my official seal at
.ort Pierce, said County and State, this /c ~~ day ofDecefnber, 1950. ~,~,,;~,,.,
OED ~ ~ ~~ ~ ~9
4f COg~ C
f0.~C pRf: tY.ft1-.
S RAE P1 C~OtjAt
53,019
7H15 INSTRI;lyEM PREPApFO r3Y
CHARLES o r~. '(:.~:7
~. C BOX It:2 ?i G ~- -?
NO~ary Pub11C
ate of Florida at Large
MY Cotmdssion Exi~ires
Notary -abbc, State of Florida ri large
flEy Coattaissiott Et<pires IAardt 25, 1984
tx •,_ :~.• trcr raw hswa.~• bc.
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