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HomeMy WebLinkAbout1017:q~~~l~• .u~~h n•nt., i~•u~•s and E~rulila n•c~,i~~v) b}~ it on th~• ii~di•bt~d~i~•ss s~•cun•d hi•mby in +u~•h urd~•r :~s 111ur1~;:~~;~v d~•t~•r mini~s. '1'h~• n~;ht tu .•ul~•r and t:~k~• ~x~:tir:siun ul thi~ Aturlk:~~;~~1 l'ru~x•r1y, tu n-:~n:~~;~• :u~d u~N•r:Ui• Ih~• wun~•. :u~d tu ~•ull~•~•t ih~~ rcnls, i~+u~~s and {-rul~ts the~~•uf. ~~•hrih~•r b~• a nY•~•iv~•r ur uthcnv~su•, sh:~ll {N~ ~~umuL•~ti~i• tu :~ny uth~•r ntiht or n•nu~dy h~~n•und~~r ur :~fturd~yl I~v I:~~v, and may IK• ~•acen•iud ~•oni•u~mntly tlierewith ur ind~yx•txienlh~ th~•rw,t. Aturt~;:~~;~~~ shali I~ li:~l~le lo a~•~•ouut onl~~ tur xu~•h n•ntx, is,u~•s :ii:d pn-(its .~rnr,~lly m~•ci~~vl hy ;1lorttiak~v. 14. It thc indebtivlnrsti uK•un~! h~•rrLy is nu~~• or hi•n•afte~ (urlht•r u•~~unK1 by ~~h:iUrl m~~rtK:iK~•., s~•~~uri~y inl~•re~~ls, tinan~•inK stat~•mi~nts, ~ded~;er, cuntr.~~ls of ~uar.~nty. :~ssiR~un.•n!s u( I~:~w•s, or other scvuriti~•s, ur ~( Ihe 1~lortg.~Ked i'ru- ~K•r1~• ha•n~by i~ncun-lK•n~cl ~•un.ists ul mum tha~~ un~• ~~:u~~~•) ul rr:~l proEx~rty, Alortg:~K~Y~ m:~y :~t ils u~itiun vxhaust :my on~• ur n~um ~~f s:iid wKVriti~•. :u~d +.•~•urity h~,n•u~~d~~r. ur ~u~•h ~-:~rrrls ui thc~ u~•unty hen•und~•r, c•ith.•r i•om•urmntly ur indt~- {x•~~d~•ntl~•. .u~d in ~u~•h ord~~r :~s it uiuy det~•rm~m•. 15. '1'his Dfort~;a~e shall s~r•urt~ nol unly ~•aistinK indi~bttK~nctiti, but ulse~ tiw•h (iriure ad~:~n~•~•., whi•th~v such ad~:~n~•cti arr ubligatun• ur fu IK• niad~~ :d the upt~un of AturtK:~g~ti•, ur uth~•n~isu•, as an• mude ~n~ithin t~~~•~ih~ I:.N-) ye:~rs (rum thr d:it~• h~•nY-(, to !he ~:~n:e exli•ni a~ if ~ui•h tulure ad~:u~ivs ~~•rn• maJi~ on th~• date uf the i•xcY•utiun of this 111c~rt~aK~•, hut tiu~~h .cY•until indebtivl~~~:~~ sh:~ll not ~•x~•e~Y) :d uny timr the mr~xintt~m princip:~l auwunl of 3- n/a ~dus int~•rest, and any disbunetnent~ made tor the ~r.rym~~nt ut t:~x~~. 1~•~~itw, or insur.~n~•t•. ~~n th~• MurIK:~K.til i'ru~H•rty. ~+ith inlenwt un su~•h disbunements. Anp su~•h (utun• advani•es, K•h~•th~•~ ublix:iton• or tn IK• mad~• :~t th~• u~-tiun u( thc• A1urtK:~Ke•~•. ur uth~•r~~ix, in:~~- Ix• ~n.~di~ ~•ither ~inur to or att~•r tl~~ due d~~t~• r.l Ihe 1`ot~• or .~n~• ~>Ihcr rn~tes s~ti•ured bv this 1~1urt~;ak~•. '1'his AlortKaKr is Ki~~•n tor th~• s~K•i•i(i~• pur~x~.~~ ul si•~vrinK any and all indebt~vln~•ss by thi~ A1orl~;aku~ tu A1urt~;:~Kiv~ Ihut ~n nu r~i•nl .h:~l) th~~ s~ti•unrl fndi•htirin~•c. i~x~•~~wl at any Um~• thc~ niaximum prin~•i~~al amuunl u•1 lurlh in this ~~:~r.~kr.~E~hl in ~•4~at~~~v~r m:~nn.•r this ind~•bt.vin~•s. may IK• i•vidi•n~•~yl ur r~•~~mst~nl.•d. until this ~1ortK:~k~• is .:~ti.fird o( nK•ord. All ~•u~i•n~ ants :~nd aKnK•in~•nls ~•ontain~~ci in this \tortRak~• tihall IH~ :~p~~li~:~hl~~ tu all (urlh~~r ad~:~n~-~~s rnad~• 1~~~ \1urt~;aK~~~~ tu \turt~;aKor under thi. (utum ad~:~n~•~• ~•lauu•- Ili. Nc del:~y hy ~1or1~:~K~~~ in i~x~•rci+inK :u~y ri~hl ur muu•dy hc•r~unil~•r. ur uthi~n~~u :+flurd~K1 hy la~v, tih:~U u~H•rat~• :~s :~ ~v:~i~i~r thc~nr~f ur pr~~~•lud~• th~ exen•ise then•uf ~IurinK th~• ~•ontir.uam•~• ot :inv detault h~•n•und~~r. No ~~•:~i~~•r I~t ~turtkaK~Y• ot any di•Liult xhall i•unstitute a~ani•r u( or i•untu•nt to suhw~~u~•nt d~•taults. \o tailure of A1ort~;:~K~•~~ tu i~x~•n•isi• :~ny option h~~rein Kici•n to ai•~•~•leratc~ maturily of the debt hE~n•by s~ti•un~l, no (orik•:ir:~n~•c t-y ~tortKuKr~~ IKdorc• ur :~It~•r the ex~•rci~~ of w~•h upUun and no withdr.+w:~l or abandunmm~l of fom~•lusur~• ~~r~r•.~cYlink b~~ Alurtga~;.ti• shall {M tak~m ur ~•an- vtru~Y1 as a H•:uvc•r ol ~fs ri~ht to t•xen•~sc• su~~h o~-Uon or to ae~c~•Icr.~lt• th~~ maturity o( thi~ debt hc•n•b~• s~~~•unY) ir}~ m:isun ot :~n~~ ~~ast. ~~rt:vrnt or tutum ~I~~(ault un the part ot ~1orlK:~kur: :u~d. ~n like• m:~nni•r, thc~ {~r~x•urem~•~t of imur.~n~•~• ur th~~ ~r.~y- m~•nt of I:~x~~s nr other lien, or .~h:~rK~•c by ~1urt~;:+~;~v sh:~ll not IK~ t:~ken ur ~•~rn.tru~•d a, :~ ~.:i~~~~r ~~( ~ts rie;ht fi~ :u~~~•Irrat~• th~~ m:~hiritv ot !h~• de•ht ht~rel.v .ecunYt. ~ 17. ~\'ithout at(ectinK thi~ li:~hility uf ~1ort~;:~kur ur any other ~x~rsun I~x~•~y~t anp ~K~nun ex~~n•ssh• n•Ir:~~~vl ~n ~.ritinkl fur {r:~}•mi•nt uf am• ~-~a~•i~~.~i~~.•~s u•~•unrl hi•mLy ur for ~x•rlurmanc~• of aoy ublik:~tiun ~•unt:~in~•d hi~r~•~n.:uid ~~ithuut :~Ili•~~t inK th~• riKhtti of 1lurtk:~K~Y• w~th rt~s~x~~•t tn any ci•~~unly nut ea~~n:~..ly mlrasi~cl ~n ~.riUnk. \turtk:e~~•r ui:~~~. :~t :~nc timr ,~nd fn~m tw~~• to fim~•, i~ith~~r lKdun• ur :~tt~~r th~~ maturit~• o( s:~id not~•. :~nd ~ithout nu;ici• ur cuns~~nl: Ia1 I~i~l~:~s~• :~ny ~w•r~t~n linbli~ fur ~r.~ynx~nt ni all or :iny ~~art ~d th~~ indc•I;tiY1n~•:ti or f~~r ~N•r(~~rm:~n~~~• uf :u~~• uhl~~;:~tiun. Ib- \lake anp :~xrt~t~nu•nt ~•xf~•ndink th~~ Umi• or uther~s~ise .ilt~rinR tL~• t~•nn, ul {r.~ym~•nt uf :~11 ur :~nv ~~art uf thr ~ndebtcKlness. ur m~wlify~n7: or k:~i~•inK :m}• ~~hlik::ti~~n, ur sutw~nlin:~tinK, m~wlil~•inK ~~r ~~th~~rHiw• d~•:~IinK ~~ith th~• lii•n ~~r ~•h:~rk~• h~•nv~f. i~•1 Escrci~ ..r r~~ir:un trom ~~x~~n•~sin~; ~~r ~~:iiw• :inp ri~~ht ~lurtk:~k~•~• ~n:~y h:~.~~. I~i- A~•••ept :idditiun.~) u~~•unty of :ui~- kind. t~•1 licl~~asc~~~r oth~~n+i,~• d~:~l ~~ith anv ~~ru~k•rty. n:~1 or ~x~r~nnal..eyvrinQ Ih~• in~l~~hte•drn~s~, in~•ludink::~II ur:~n~• ~r.~r1 ~t the ~lnrtk:i~;t~~i I'ru~x•rt~•. lrt. Am• aKnvmt•nt h~•r~:~tt~•r ~n:idi~ L~~ \1~~rt;;:iR,~r :ind \torti~u~;~•i• ~~ur~u:~nt t~~ thi~ mnrt{;a~;~• sh:ill Iw• su~x•nur t~~ th~• n~;hts uf the huld~•r uf an~• int~~ni•nink h~•n ~~r ~•ncumhr:~n~•~•. I`~. ~lurt{;aKur h~•n•h~~ ~~;ue~•. :ill riKht ul hume•sl~•aJ ~•x~•~n~~~~~~n. ~t :~n~~. in Ih~• \I~~rt~;a~;i~~i 1'ro~N•rt~ '>I-. L~ thr ~•~~~M o( ~•und~~mn:~tion ~~ru~ ~•i•dinkc uf thr ~tortk:~~;~•d I'r~~~N•rt~•, thi• :~~~ard ur ~ u~n~N•n~itinn ~r.~~•:~I~I~• th~•n•- w~d~~r is ht•mi~}~ :is.i~;mYl to :~n~l slc~ll ta• ~r,~id t~~ \i+,rtr.i;;iv• ~lurt~;a~~r ~h:~ll iN• und~•r n~ uhi~{:atiun tu qu~•:ti„n thr:unuw~t ~~f an~~ such :nti:~rd or rom~k•nx:~tion ar~d tn:rv :u•~•t~~~t the .:~~nt~ in th~• :imuunl in ..hi~•h th~~ .:un~• sh:~ll tK• ~r.~i~l In :~n~• .u~~h run~lt•nui:~tiun ~~ru~•i~e~din}:s_ ~1urf~:i~;t•e~ m:~p {k• n•prr;~~nt~•d h~~ ~~rnm,t•I .~•I~•~~twi h~ ~1nrt~;:~ke~•. 'I~h~~ prorr~•d, nf :~n~~ :iti.:inl ur ~•~~a~pi~n~diun W~ rtti•~iet~1 .h:~ll. al thi• t:{~tiun nl ~lort~;:~~;i~~~. i~ithc~r i~• a~q~lit~d tu the• pmpa~•mrnt uf tht• \ot~• ;~nd :~t thr ral~• nl intt•rr;t ~rru~. idi•d thi•re•~n. r~•:;:~rdl~•" ul thi• r.~ti• ~~1 int~~n~st ~r.i~:~hl~~ ~~n th~~ :~K:~rd h~• th~• ~-undt•mnin~; authnnl}•_ ~~r :~t th~• upt~un uf \lnrtk:~{;tY•. ~u~~h :~~~:~rd :h:~ll IH• ~,:ud uc~•r tu ~turt~;:~~~ir I~~r n•,t~,r:~t~nn nf [h~• \lnrtk:~~;i~d Pru~n•rt~•. '_'1. If \1~~rt~::lR~~~•. ~~ursuant t~~:i ~~~n.tru~•h~m i~~:u~ :~;;r~•~•c~u•nt ur hr.~n ru~nmitmrnt madF• h~~ 11urt~:i;;e~r ~~~th \1urt~;n~;nr. :i~rt~rs i~+ ~tt:lke• runstru: tiun ln:in u~lt.::::,•, :ti~ tu th~~ ~:rit:+ si,:sl :tnta,u:~t s3f :t:~• \ot~•. th~~ti \1~+rt~;:~;:+~r h~•r~ t:y a~a,~~•ss:ir.t~ tha~t tt ~~~II rum~~h~ ~~ith :~II ut the• ti•rn~s, ~~r~ni.i~m. ,~ncl ~u~i•n:itit~ ~~t .:nr) ~•un::trtut~un luan :~;;m~•~nrnt ur lu:u~ ~•~~mm~tm~~nt. ~~II ciilir~•ntle ~•unst~urt thi• im~iroc~•nu•nts tu fH~ Linll ~~ur.~uint tu thr t~•nu. thrn•~~I. :~If of th~• t~~rrn, thf•n•~~t whi~•h arr in- ~~~~r~,ur.~t~•d h~•ri•~n ir~' ml~•rt•n~~~• :~; th~~u~h .~•t lorth iufl~~ h~•n•~n :~n~l a~ill ~K~rm~t nu ~Ic•t.iult~ 1~~ n~~~-ur thrn•un~l~~r :~ud ~t :~ d~• iault .hall ~~~•~•ur thf~rr~~n~i~•r. ~1 .h:ill ~~un.hh~ti~ a de~i:~ull un~it•r thi. ~lnrt~a{;i• ,~nd th~• \i~tr- ''~' :V th~• ~~~,hnn ~~t \1~~rt~:.~k~•~•. ~t~~rt~:~t~nr ~h:~ll ~~r~~~ul~~ ~l~~rt~;:~~;~•~• ~~~th {N~n~NI~~• ~•~•rt~h~•rl :~u~Gt~•~I .t:~te•m~•nls nf fh~~ (in:~n~ i:~l ~•unditinn ~~} \iurt~;:~Rur. 2:i. \1~~rt;;:i;:~~r r~•~rn••~•nts .~n~i ~tinr-:~nt. th:~t it :~ r~~r{~rrr.~ti~:si. it is ~1uh• nr~;:~mit~ri :~n~l ~:~h~11~ ~•xri~~nR. ~n e;~Nr~l st:~n~l in;: und~•r th~• I:i«: nt tht• st:~h~ ~rf ~Is inr~~r{~~~r:~ti~~n. h:~.~~turk ~~ut~tnndin~ ~+hi~~h ti.~. h~•~•n ~tul~ :~nd ~:ilidl~• i:.u~•d. :~n~l i. yic~hti~~r1 ti~ du t~u.~n~•~. :~nd i. in ;;~~~H1 ,t:~n~iu~t; ~n ~h~• ~t:~t~• ~~( h'I~~n~i:~. ~..ith tull ~N~wrr :~nd :~uth~~ril} t~i ~ un.umm:~tr !h~• lu:in ~~unt~•~n~d:~te•~I h~•n•h~•: :ind. if :~ ~~:~rtnrr.h~~~. it i, duh lurm~•~1 and ~:~Gdlc ~~a~stint~. :~nrl i. lull}~ quah(i~•d t~~ d~~ hus~n~~,. in thi• tiiati~ ul Flnrid:~: ~+~th lull F~~n~~•r :~n~! :~uth~~nt~ tu r~in:umtn:i~r th~• I~~:~n ~i~nt~•mpl.~t~•d h~•n•h~- ''t. In thr ~•~emt :~n~• ont• c~r mun• ut thi~ ~rru~~.iuns ~•~~nt:~~n~•d ~n ihi. 1lnrtka{;i~ ur in Ihe• \ote ~h:~ll (ur :~nt• n•:~son IN• h~•I~i tu IN~ ~m:~lid. illi•;;:~I•i~r ut:~•ri(ut~•~•:~hle• ~n :inc n•.E~~•~•t. surh ~m:ili~fit~. ill~~~;.~l~tt- ur un~~nfurrt•:~hlitt• ~h:~l~_ .~t th~• n~~t~un ~~f thi• \i~~rty;:~t;~•~•. n~~t :~Ili~~~t :in}~ ~~Ih~•r {~ruti•iun• ~~t tiii, Jl~irte:~~~•. hui this ~1urt~;:~~;~• .h:ill tn~ ruustru~Yl :i. ~t su~•h in.:~l~<I. ~II~•L:~I ~rr us~~~nfur~~•ahl~• ~~ru~i.iun h.~d ru•~~•r IK•~•n r~~nt:n~i~•~I h~~r~•~n ~~r thi•r~~~n 7'h~• tnt:~l int~•rest p:~>:~ht~~ ~~unu;~nt t~~ th~~ ~ut~• or thi~ ~lurtR:~k~• .h:~ll n~~t ~n :~n~ ~in~• ~~~.~r ~•~~ ~•~•~t th~• hi~;h~~~t I:n+lul r:~1~• ~~1 inttv~•:t in the Stat~~ uf H'I~:rid:~ '_':._ 7~hi~ ~~~~~~n:~M~ :uid :~~;n•~•~n~•nlv h~•n•~n ~~uni.~iut•~f :h:~ll I~ind .~nd th~• iN•m•lit. .uid :ui~:~nt:~~;e~s shall ~r~un• t~~ tF~~~ n•,~~~•~•t~ci• h~~irv, e•~e•~vturs, :idr~in~~tr.it~~r~, .u~~~~•.:~~n, :uul :i-.i~n; nf th~• ~r,~rtie•s h~•n•t~~. ~~'h~~n•~~•r us~•d, th~~ ~iny:ul:ir numlw~r ~hall tn~~lud~ th~~ ~ilur::l. thi• ~~lur:~l th~• :ui~ul:~r. :~ni! thi• u~~~ nt :~n}' ~'~~nd~~r .h:~ll h~~ :~~i~ili~~:~Ll~• tr~ :~II ~;i~nd~~r~. All r~~c~•n:ir~t., n~;r~•~•tne•nt. :~nd unJ~~rt:~kin~:~ .h:~ll l~e. juint :~nri se•~i•ral In th~• e•~~~nt :utd~t~~~n:il nurnl~c~n•d ~•o~~~nant. ur p:~r.~- ~;ra~~hs are• I~:r ~•~~nti~•~u~•n~~~~ ~n;~~rte~d in this 11~rrt~;:i;;~~. su~•h :~d~l~~~un:~l ~ n~~~r,~nt. .h:~ll 1~~ r.•ad :ind ~:icFm ~~tf~•~ t:i. Ih~~u~h (u11~~~inK thr., ~•;,~~~n,~nt ~n ~~~rn~e~~•uti~.~• nrd~•r ~- r;r~ i,~~ ~ P~~O,~~