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BAI.ZDOI~ NDR'P('~
20. That Mort~a~ MnU not psrmit ~ny otM~ IiNU to M 6Nd a9a~nst th~ s~~d pnm~s~s ~nd ~1 ~ny such I~e~s us f~l~d. whetM~ p~~amount a subo-
i7~nate to [his matpaqs. Mo-tqa~o~ w~ll haw a caus~ to b~ had sa~d I~ns d~ich~rp~d imm~dutNy.
21 Mort~ap~ shall haw tM ripht to charp~ Monopor's ~ccou~t with Mon~p» ta tM -nl~~~st ~nd pnncipal paYsbl~ ss prov~ded m ths promissory
~~o~e as wch becomas dw in ~ccorda~ tM~~with.
22 It ths Matqs~s rpuests. Mortpspa Mnb~r oovM~nts ~nd ap~s~s ~hat Matp~~ will fwrnsh th~ Mo~ty~gse annualh from tM dats ot this
+nortgags insuum~nt. unlsss som~ otl~ dat~ is ~~ad to b~tvw~~ tM p~Aiq in wnt~~p. a csrt~fi~d sudited tinanc~~1 staamsnc ol ths Mortqapa and annual
~ omp~eta ope~stin~ statements of Matqa~a• If tM Mortp~9a's 6sca10~ cal~ndar yur ~hall not cancid~ with the date hsr~i~ .psafisd. the~ the date wh~ch
cne Mongspss shall spec~ly shall bs conuollinp. Mort9a9a shall wpply Mo~tp~p~s with wch othsr bnancial sacsmsn[s ~~ Mort~sgse may from tims to tlme
request.
23. It is agrssd that nothinp M~sin contained nor ~n~r trans~ctwn nlat~d tMrsto shsll bs consuusd o~ so ops~ats ~s to requue ths Mortga~w to pay
~~~ceres~ st a rats greatsr than i~ is now I~wful i~ such cass to contract for, o~ tQ make sny paymsnt a to do any act contrary to Isw: that if any clau~s a
~,~o~~s~ons hera~n contained opsrate a would prospsctively opsrate to i~v~lidats th~s Matgs~s cx sa~d Note in whole or in psrt. thsn. such clsuses and
;>rov~s~ons only shsll bs Mld lor naught. as thouQh not hs~N~ contain~d. ~nd thf rsmaindsr ol this Mortyags shall rema~n opsrat~ve snd m fult force and eHect.
24. It sll or sny pan o( ths mortQapsd prop~nl- ~~~ ~ damaQsd o~ taksn throuph condemnstion (wh~ch term when used ~n thfs mwtgage shall i~-
c~ude any damage or tsking by any ~overnmenul authority. ~nd any trsnsls~ by pnvate sals in~isu thereofl, e~thsr tamporanly or permanently, the ent~re in-
debtedness seturod hereby ihell st ths OptiOn O~ t110 MOKQ~QN. b~come immediat~ly dus and payable. Ths Matgsges shatl be entitled to all compensatwn
awards. and otAer payments w relist thsrsfa snd is hsre0y ~uthorizsd. ~t its option. to oommence. appsar in and prosscuts. in its own or the mortgagor's
~ame, a~y action or procesding rslatirp to any condsmnation. and to ssttle or compiomiss any claim in connectwn therewith. All such compensstion.
awards. damages. claims. rights oi-action snd p~oceeds s~d ths ripht thsrsto ars hereby sssignsd bY the Mongaga to tM Mongagee. who. aher deductirtg
cneretrom all its expenses. including attorney's tses. m~y rskass any monsys so rsceivsd by it without aHscting ths lien oi this mortgage or may spply the
same in such manner ss the MoRgagss shall dststmins. to the reduction oi ths wms secursd hereby, and to any prepayment charge t~erein provided. and a~y
t,a!ance of such moneys then ~emaini~g shsll be paid to ths Mortgagor- Ths Mo-tgagor agrees to execute such turther ass~gnments oi any compensatsons.
.,wards. damages. claims. rights oi action and procebda as the Mortgagee may requue. ,
25 This moKgage shall be construed as • secu~ity agreemsnt under the Florida Uni(orm Commerual Code.
26 Other prov~sions~
IN WITNESS WNEREOF, the Mortgagor has executed these presents under
seal the day and year first above written.
Signed, Sealed and Delivered THIS IS A BALLOON MORTf;AGE
in the presence of:
/
~ ~ ~~'~/ ~~12. / , ~ (SEAL)
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K. c ELLAN
STATE OF F7ARIDEI )
)
GO[It~TTY OF ST . IIJCIE )
I~Y CE~TIFY that an this day personally a~peared befare me, an officer duly
authorized to a~dnister oaths ar~d take acimawledgements , DF~JITf T. N1 .~.[.LAN , JR • and
DURZS K. McCLII~AN, hi.s wife, to me layown to be the persa~s described in and who executed
the faregoi~ instnment , ana they admaaledged befvre me that they executed the sane .
IN WZTNESS 4h~F, I have here~to set ay h~d a~d affixed my offi.cial seal at
Fort Pierce, said County and State~ this ,~c'~ day of ,T ~. , 1981.
~ '~7 ~1~s'~y
N()fARY PUBI.IC , State of Florida at , I~e„ p,~
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