Loading...
HomeMy WebLinkAbout1329 mortgage shall be deemed a security agreement, and the mort- gagee shall have all the rights of a secured party under the Uniform Commercial Code of the State of Florida. 19. Mortgagee may make or cause to be made rea'sonable entries upon and inspections of the property, provided that mortgagee shall give mortgagor notice prior to any such inspec- tion specifying reasonable cause therefor related to mortgagee's interest in the property. 20. Extension of the time for payment or modification of amortization of the sums secured by this mortgage granted by mortgagee to any successor in interest of mortgagor shall not operate to release, in any manner, the liability of the original mortgagor and mortqagor's successors in interest. Mortgagee shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this mortgage by reason of any demand made by the original mortgagor and mortgagor's successors in interest. 21. Any forbearance by mortgagee in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of taxes or other liens or charges by mortgagee shall not be a waiver of m~rtgagee's right to accelerate the maturity of the indebtedness secured by this mortgage. 22. 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 property address or at such other address as mortgagor may designate by notice to mortgagee as provided herein, and (b) any notice to 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. 23. If all or any part of the property or an interest therein is sold or transferred by mortgagor without mortgagee's prior written consent, and other than in the ordinary course of business as contemplated by mortgagor and mortgagee, mort- gagee may, at mortgagee's option, declare all the sums secured by this mortgage to be immediately due and payable. Mortgagee ~ shall have waived such option to accelerate if, prior to the sale or transfer, mortgagee and the person to whom the property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to mortgagee and that the interest payable on the sums secured by this mortgage shall be at such rate as mortgagee shall request. If mortgagee has waived the option to accelerate provided in this paragraph 23, and if mortgagor's successor in interest has executed a written assumption agreement accepted in writing by mortgagee, mortgagee shall release mortgagor from all obligations under this mortgage and the note. 24. Except as provided in paragraph 23 hereof, upon mortgagor's breach of any covenant or agreement of mortgagor in this mortgage, including the covenants to pay when due any sums secured by this mortgage, mortgagee prior to accelera- tion shall mail notice to mortgagor as provided in paragraph 22 hereof specifying: (1) the breach; (2) the action required -6- i i ~ h ~ .;:.-,~.:>. .. -. FEE. KOBLEGARD 8c TEEL. P. A. ATTORNCY8 AT LAW voar oFi~ct eox ~ooo ~~"1x~~9 P~GE~r~ IORT PIEqC[. FLORIDA J34S4 T[L[~NONt: (30d) 461•3020