HomeMy WebLinkAbout2801u~~~~l>• ,u~•1~ n•ot., i..u~y :ual ~,n~(ita n~.•i•iviyl I~y it un th~ ind~•btedn.~v sc~•un~cl hPmby in au~•h unii•r :~s I~1urtKaK~~• di•t~•r-
min~•s. '1'h~• r~~;ht tu rnt~•r aud laki• ~x~+w•+..iuo ul the A1url~;aK~~1 1'ru~x•rly, to man:~~;~~ and u~K~rute ihe s:un~•, und lo ~•ulle.•t
~ht~ n•nts, i..u~•, and pn~tits ~heriK,l. whether by u rcr•ei.•er ur other~.ixe, shull 1~ ~•umututi~~~• to any u1h~~r right ur rc•miyly
hrn•und~~r or a(ford~vl hy la~v, and may IK• ~•x~r~•iu~d ~•un~•urn~~tly iherewilh ur inde~x•nd~•nUy theriyit. A1ortRa~;~v sh~~ll
I~t• li:d~l~• lo a~Ywunt only tnr ~uch mnts, is~urrt u~d pro(its a~•tu:~lly ~c~•eiv~K1 i-y lllorti::~K~w.
14. If the indehitYln.:,s uY•un~l h~•mhy is nuw or h~~m:~fler tur~hi~~ u~i•ured b}~ ~•h:~ttel murt~;aKrv, s~~i•urity inten~ts,
linan~~ut~ vt:~t~~m~vN., p1iti1K~'+, roMrai•ts of Kuaranty. :~..,i-;nmrniti of li~:~ww, or othe~ s~K•urities, ur ~( the N1orlR.~K~YI Yro-
~K•rly h~•nby ~•n~•un~IK~nvl ~-<~nsisls ul mun• ih:ui om• ~-:~n•rl ol n•:~) pro~x•rly, 111orlg:igir m:ry .d its uption ~•xh:wsl :~ny oni•
ur nwrr ot v~id uti•uriti~w and ~ti•uritv h~~muader, o~ sui•h ~k~rcelti o( the se~•urity hereund~~~, either iv~n~•urmntly nr inde-
~x~ndentlv, and in su~•h ordrr as if m:~y determine~.
l~i. '1'his ~lortK:~~;~• shall xtiur~ nol. only c~cistinK indebt~~lne~.~, but :il.u> su~•h tutun• advun~•~~, ~.•hrthi•r su~•h :~d~•:~ni•~w
:~m obli~;:dor}~ or lu IK -u:ide at the option of MorIKaK~y~, ur olhen~•ise. as .~m m:~de ~~ittiin twenty (:.~) y~•:~~ from the d:~ti•
hen~~(. to the s:-me ~xtent :~~ it su~•h tuture ad~•an~•~~ wer~• mude on the d:~t~~ of the ~x~Y•ution of this I~tortKaKe, hut ~cu~•h
sc~•umd indebt~~cinc:v~ shall not e%lYY'(I at any tim~~ the maximwn princi~~:il amuunt o( S
plus inter.•.t, and any disbur~•~nrnts m:~de for the ~~:~yment u( taxes. lrvies, or insuram•e, un the AtortKak~Yl Pro~x•rty. with
intemst un su~•h d~sbunerments. Any sui•h tutun~ :+d~.in~-~~~, wh~•thi~r ubliK:dory.ur to IKr made :~t thi~ optiun of Ihe 111ortKaK~~•,
or otherN•iu•, may IK m:~de either prior to or .~(l~~r the due datr uf thc Not~~ or :iny <~ther nul~•s u•i•umd by Ihis 111ort~;:iKc•.
This Atort~;aKe is Kiven (or the s~xvifii• pur~-o,c~ o( u•~•urinK :my and :ill indebt~tilni_~s hy ihe A1ort~;aKor to Atortg:~Kre (Lu~
in no evenl shall the sE~•ur~r1 ind~l-t~Ylness rx~•EY~cI :~t .~ny timr Ih~~ mazimum princi~~:il am~~unt u•t forth in this µir.~Kr.~~~hl ~n
whate~~er nu~nner Ihis indeld~~clni•ss mav t~e eviden~•~YI or repn•senl~~l. until this 1~lortgaKe is ~:ititi(icd ~~f n•~Y~rd. All .•o~en~
:~nts .~nd aKnti~~nrnts ~•umain~~c) in thi~c \tortK:~~;r sh.~li !~ :qq,li~:~l~l~• tu :~11 furth~~r adv:~n.•~w m:~d~ hy Alorty;:~K~•~• to
~tortKaRor und~•r th~+ (utum ad~ance ~•I:~us~•.
16. l~u deluy by lllurtgugee in ~•xercis~n~; any ri~:ht or rem~~ly h~•mund~•r. or olher~•ix• atlordcYi by la~+~, sh:ill u~r~ r:~te
:is a~~•:~i~~•r therE~f ur ~-nK•ludr thr exen•ise there~~( durinK th~~ ~•antinu:~n~•e o( :~ny di•(:~ult hemundt•r. No ~:~ivi~r 1,~.
Murt~;aK~Y• uf nny d~•faull sh:il) i•onstitute a wai~rr of or ~•onsent tu sui~wx~uent il~•f.~ults. ~io tailure uf \1urIK:~K~r lu a•xi•r~~i-~•
any option h~~min ki~en to acrele•rate m:~turity of thi~ debl hemhy sc~~•ured, no t~~riK•ar:~n~•c• by 111or1~;:~Kc•e tx~lare ur a(tt~r the~
~•xen•isir ot sw•h option :u~d nu H~ithdr.~wal or alk~ndunmi~nt uf IorEr•lusurc pru~•~rdir-K 1,~• Atort~;aK~~• sh:~ll iM t:~ken ur ~•on-
,truE~d as a wai~~t•r o( its riKht to ~~xen•ive sui•h option or to arrel~•r.~t~• thc• maturitp of thc d~ht h~n•Iry u~~'un~l by rf:~W~n nl
:~nt~ ~-:~st, pn•si~nt or tut~rr deGwlt un the ~,:~rl o( ~lortk:~Rur. :~ncl, in likt~ m:~nn~~r, the• ~~mcur~•ment ~~f ~~,ur.~n~•~• ur the ~~:~y-
mrnt of tax~s or other li~•ns or ~~harK.•s by \tortk:iKt~e tih:~ll not IK• t:~k~•n ur ~•un.tru~•d as a«•aic~•r o( its ri{;ht tu ar~•~•li~ratr
Ihe m.~turity ot thi~ d~•ht hcv~•hy .~~~•un~l.
17. \Vithuut a(fe~•tinK !he liahility o( \lortkaRur or any uthrr ~xrsun I~~x~•~q~t au~~ ~K•nun ~~z~irrssly reli:-.scrl in writinRl
tor paym~•nt of :~n~• indebt~~dn~~:~ seyun~ci here•I~y ur for ~x•rloru~ani•e uf am• ublikation cont:~in~~d h~•rein. :~nci ~+ithuut aflc~•t-
inK lhc~ rikhts ut \1orlKak~~ with n•s~~•~•t tu :u~y se~•urity nut ex~-na<IV n•~~:~s~yl in ~~•ritinK. 11urt{;aR~r m:~y, .~t :iny time and
frum ti~n~~ to ti~ne, ~~itha~r Le~fon• or alle•r th~• maturity o( s:~id nut~~, :~nd «•ilhuut nuh~•~• or i•ununL
1:~) K~•I~:~.e an~• ~N•r.un li:~bli• (ur ~r.~~•m~•nt uf :~ll or any ~~art of thi• ind~~ht~~dnt•~s ur for ix•rturm:~ncc nf an}• uhG{;atiun.
Ihl ~1:~k~ :u~y .~~n~•~nrnt ~•al~•nd~nk the Ume or uth~•r~c~sc• :~ItennR ih~~ tNnns uf ~~:~ynic•nt uf all ur any ~~:~rt uf th~~
indt•bi~~clni~tis. ur nuKli(yinK rir wai~ink am• oblikatinn. or suiM~niinat~nk, nuxhfyin~ or othc•n+iu~ d~•aiink ~ith thi• li~•n or
~•hcirk~• h~•n~oL ~
(~'- Ex~•n•iu• or n•frain trum ~•s~vi•itiinR nr u:ii~~~• an~• ri~;ht \fort~;:~{:iti• may ha~e.
Id1 A~-cept :~dditiun:il st•i•urih• uf any kind.
1~•1 12~•Ic:~u• or uth~•nv~;i• d~:~l v ith :~ny pro~K•rty. maf ~~r ~x•r:~~nal. se~~•urinK th~• indc•6te•dnccti, in~•ludink :dl ur am~ p:irt
~i) ~ftt• ~1ortR:fkt•d ~'~u~K~fl)'.
1`~. Any~ :~~;n•~•m~~nt h~•n•:~It~•r tn:id~• h~• ~1~~rt{;:~Rur :~nd ~lurtf::~1:~•~' p~~rsuant trr this m~~~tk:~~;~~ shall Iw• :u~N•ri~~r In th~•
n~:hth u( th~• huld~~r ~~f :~ny iM~~r~r~~~nK li~•n ~~r f~n~~umhr:im•~~.
IS). ~i~~rlk:iKun c~~rrhy ~+:in~•s :~II nKht ~d humeste:~d rxi•~n~~tiun. ~f :~m•. in thi• \1~~rty;:~-;~~d 1'r~~p~~tty-
~K). In th~• ~~crnt ~~f rnnd~~mnati~~n pro~ ~Y~d~n~;s uf !hr ~1urtK:~k~•d Pr~~~ff•rt~•. thi• :tw:trd ur ~•um~x~ns:itiun ~r,:p:~hl~~ thc•n•-
under is h~•re•b~• :~~.iRn~Y1 tu and sh:~ll iN~ p.iid lo '.11nrt~;.~Rt•i•. lturtR:~Keti• sh:~ll {N• under no ulrli-;:~ti~~n tu yu~~~liun the amount
n( :uiy sii~~h :~~~ard ~~r <~om~x~ns:rtiun :~nd m:~p a~•~~~~pt thc• sa~n~~ in the arnount in arhich thr .:im~~ sh:~ll IK~ paid. 1« :~ny su~•h
~~~ndemnahon ~iru~•t~~•dink,. :1ur1~;:~~;~~~ m~~y iw~ n•pn•s~•nt~•d h~• ~•uurmi•I s~•IE•~•tr~3 hv \t~~rtk:~~;ei•. 'Th~~ pro~~~rd. ~~f :u~~• a~aard
ur ~•om~x•ns:Ninn ~u re~•~icivl shall. at the• optiun nl \lort~;:~k~•~~, ~•ith~•r tx~ :i~qitii~d to the E~m~r.~ymt~nt ut thi• \ute :~nd :~t thr
r.~l~• et inti•re.t prucid~•d th~•n•~n. n•;;:~rdli•s. ul th~• r.~t~• uf intrn•st ~~a>:~bli• un th~• :~w:ird I~y the• •-ondemninK :~uthont~•. ur :~t
thr u~~t~on uf J1~~rtk:~~;e•~•. .u~•h aK:ud xh:~ll t~• ~r.~i~l ~~et•r to :11~~rt~;:~kur Ir~r rv•.forai~nn o: th~• \1ort~;.~k~•d F'ruE~~rh•.
?1. I! \tnrtka~~•t•. ~wr~u;~nt tn:~ ~ un~ln~i-Uun lunn :~;:n~•n~rnt or I~r.in ~ umnutm~•nt tn:~dt• h~• :U~~rt~;:~K~~• M~Ih \1urtKa};nr.
:i~n~~s tu m:~k~• ~~~nstrui•tinn lu:~n :id~:im•r~ u~~ to thc• ~irin~~i~~:~l .~~nuunt ~~f th~• \o~~•. th~~n ~t~~rt};a~:~~r"hi~rch~• rnc~~nam. thait it
~~ill ~~~~~npl~• ~cith :~II u( Ihc• t~•r-ns. ~~n~~ici~~n::~nd ~•u~i•nant~ „1 s:ud ~unstru~•Iiun I~~:-n akmement ~r luan ~•un~~n~tm~•nt. will
d~lik~•ntl~' ~•~~n,truct thr im~~ro~~~em•nts tu IN• I~inlt ~~ursu:~nt tu tht• trrm; the•n•~~t. all i,f thi• ft~rm. thi•mu( Hhi~•h are ~n-
~~urpur:~te•d h~~rt•~n b~~ n•le•mnr~• :~s thnukh «•t t~~rth lull~• h~•n•in :~nd ~eill ~x•rmit no ~ti~t.iults t~~ u~•~•ur the•r~~undt~r and if :~ d~~-
f:~ult ~h:~ll ~N•~~ur th~~rc•und~•r. ~t ,h,~ll ~•~nut~h~te• :i di•lault und~•r thi~ \t~~rt~;a~;~• anrl th~• '~utr
'"~ :1t th~• u~~t~un uf ~1~~rt~;:~k~•i•. ~1a~~~~;:iR~~r ~h,ill ~~r~~iit~~ \1~~rt~;;~K~•~• ~.~th {N•n~Hli~• ~~•r~~h~•d :~udit~Y1 .t:~t~~mrnts ~~( th~~
tin:irn~ial ~~i~nd~tiun ~~I ~lurt~;:~~;~~r
•_':i ~lurt:;:~~:~~r n•~~n•.~~nt. .~n~1 .~nrr.~nt~ th:~t ~t :~ ~~~~r~~ur.itiun. it is ~1uh• ~~r~;:~niu~d :+n~t calidl~~ t•x~stin~;. ~n ~;wKl ~tand
inR undrr ~he• I:~~~.; ~~i Ih~• tih~t~• uf ~t~ in~ ur~~„r.~linn. h:i~ ~tr~~ k uut~h~n~lin~; :.hi~~h h:~, Iw~i•n ~tuly' nnd :.ilidly t.su~•d. :~nd is
yu,iliti~•~1 to d~~ hu:irn•.. :~n~1 i. ~n ~:~~~Kl ,t:~n~link ~n tht~ tit.~t~• u( Fl~rid:i. ~c~th full ~N~~+~e•r an~l auth~~rity tn 1'Iifl~Utillllatr ih~~
I~~:~n ~~~~nl~~iu~~l:itt•d ht•n•hy: :uid. ~f .~ ~r;~rtni~r~hi~~. it ~. duly Iurm~K1 :~nd validh ~~xi~tin~;, :~n~l t. fiill~• qu:~Gfi~•d to d~~ husine•~s
~n the• tih~t~• ul Flurid:~: ~+~th tull ~H~~~•r an~! :~uthurity tn ~v~nsumm:~t~• tti~• Inan ~ unti~m~~1:N~•d ht~rri~y.
'?•1. In Ih~• ~•ci~nt :~n~ nnt~ ur nu~rc• ~~f th~• ~~rm„~~~ns ~unl:~in~~d in thi: ~1~~rt~;,~ke or in thc• :`ot~~ sh:~ll for any rr:~sun
i~• h~•Id t~~ IN• im:~lid. ~II~•~.nl or unt•nfon•~•:~hl~• in :ii~y re•.~m~•t. .u~~h im:ilidity. ~Ili~k:~Gt~~ ~~r un~•n(ur~•i~:~hl~ty shall. ,it ih~•
n~iu~~n ~rf Ihf~ ~T~~rti~:~{;~•t•, n~~t aUr~ t ant• uth~~r ~~n~~i.iuns ~~( ~hia \Tort~;:~};~•, i~ut Ihis \lurlk:~~;r .h:~ll IK• ~•unslru~•d :i~ if .u~'h
~n~.~lid. illi•~;al ~~r urn•ntnn ~:~Ll~• ~~n~ci~iun h,~d n~•~~•r la•~•n ~•~~nt:un~•~t ht~m~n ur ih~•n•in. 'I~he t~~t:~l int~•rest p:~}:~I~I~~ pursuant
1~~ thr \~~tc• ~~r this \lurt~;a~:e~ .h:ill nnt in :m~ ~~n~• c~~.~r ~•~.~v•~•d th~~ hiy;h~•st I:~wiul r:Ni~ ~~f int~~n•st in !he Stat~• of h'lorida
'_':~. '1'h~• ~ uee•n:~ntc :~nd .~~;nY•~n~•nt. he•n~~n ~~uul:~in~~~l .h:~ll hind and th~• IN•n~•I~ts :~ml :ui~:~nta~;t~s shall inun• in fh~•
n~:{~~~~ti~r h~~~r~. ~•a~~i•utr~r:. :ub~unntr.~tnn. au~~~~•s.~~r:, .~nd :~..i~;n. u( ihi~ ~r.~rtii~s h~~r~~~u. ~l'here~~r u~~1, the sinKul:~r
ninnlN•r ~h:ill in~~h~di• th~~ ~rluril. thi• ~~lur.il thi• .int;ul,~r. :uu1 tht~ u:e• ~~f :u~y K~•nd~•r shall Ik~ :~~q~li~:~bl~• to al) Kenden. All
~~uci~n:u~ts. :i~;n~•m~~nts :~nd un~l~•rt:ikin~:~ ,h:ill he j~~int :~n~l ~~~i•r:~l In Ih~• ~•~~•»~ :~~i~i~~~~,~~:il ~eurnlK•rf•d ~~-~f•n,~nts ur ~-:~r:~-
~;ra~~hs :~m I~er ~•umi•n~~•n~•i• in~i•rted ~n Ihis 11~~rt~:~~:~~. ~u~ h:~d~iiti~,n:~) ~~~~i•nanls ~hall IN~ mad and t;~~t~n ef(e~•t as thnuRh
fu1H~~~in~; this r~~e~nanl ~n ~~~mc~•uti•.t~ ~r~1~•r
-3 bi?k•J~~~ p~~i~~~91