HomeMy WebLinkAbout0230ALL the foregoing encumbered by this mortyage and security
agreement are collectively referred to herein as the "Premises"
TO HAVE AND TO HOLD the Premises hereby granted to the use,
benefit and behoof of Mortgagee, forever.
Insofar as each and every item of Equipment now or hereafter
or~in any way connected with the use and enjoyment of the Premises
is concerned, this mortgage and security agreement is hereby made
and declared to be a security aqreement, encumbering each and every
such item described or referred to herein, in compliance with the
provisions of the Uniform Commerical Code as enacted in the State
of Florida. A Financing Statement or Financing Statements affec-
ting each and every such item shall be.executed by Mortgagor and
Mortgagee and appropriately filed. The remedies for any violation
of the covenants, terms and conditions of the security agreement
herein contained shall be (i) as prescribed herein, (ii) as pre-
scribed by general law, and/or (iii) as prescribed by the specific
statutory consequences now or hereafter enacted and specified in
said Uniform Commercial Code, all at Mortgagee's ~ole election.
Mortgagor and Mortgagee agree that the filing of such Financing
Statement(s) in the records normally having to do with personal
property shall never be construed as in any way derogating from or
impairing this declaration and hereby-stated intention of Mortgagor
and Mortgagee (as between them) that everything used_in connection
with the production~of~income from the Premises and/or adapted for
use therein which is described or reflected in this mortgage and
security agreement, is, and at all times and for all purposes and
in all proceedings both legal or equitable shall be, regarded as
part of the real estate encumbered hereby, irrespective of whether
(a) any such item is physically attached to the improvements there-
on, (b) serial numbers are used for the better identification of
certain items of the Equipment capable of being thus identified in
a recital contained herein, or (c) any such item is referred to or
reflected in any such Financing Statement(s~ so Eiled at any time.
Similarly, the mention in any such Financing Statement(s) of~the
rights in and to (aa) the proceeds of any fire and/or hazard insur-
ance policy or (bb) any award in eminent domain proceedings for a
taking or for loss of value, or (cc) the interest of the Debtor
therein as lessor in any present or future lease or rights to in-
come growing out of the use and/or occupancy of the Premises, whe-
ther pursuant to lease or otherwise, 5ha11 never be construed as
in any way altering any of the rights of Mortgagee.as determined ~
by this instrument or impugning the priority of Mortgagee's lien
granted hereby or by any other recorded document, but such mention
in the Financing Statement(s) is declared to be for the protection
of Mortgagee in the event any court or judge shail at any time hold
with respect to (aa), (bb) or (cc) above, that for notice of Mort-
gagee's priority of interest to be effective against a particular
class of ~ersons, such Financing Statement(s) must be filed in the
Uniform Commercial Code records.
CONDITIONED, HOWEVER, that if Mortgagor shall pay or cause to
be paid to Mortgagee, at its office and principal place pf business
in the City of Chicago, Illinois, or at such other place which may
hereafter be"designated by Mortgaqee, its successors or assigns,
with interest, the principal indebtedness secured hereby, with final
maturity, if not sooner paid, no later than the maturity date here-
inabove set forth, unless assigned and extended, according to the
terms of the Note, and shall also fully perform all the covenants,
conditions and terms of this mortgage and security agreement, then
these presents shall be void, otherwise to remain in full force and
ef fe'ct. '
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