HomeMy WebLinkAbout024218. If, at any time after default by Mortgagor in the performance
of any of the terms, covenants or provisions of this mortgage and
security agreement or the Note, the management or maintenance of
the Premises shall be determined by Mortgagee to be unsatisfactory,
Mortgagor shall employ, for the duration of such default, as managing
agent of the Premises, any person from time ta time designated by
Mortgagee.
19. Mortgagor hereby waives a~id renounces all homestead exemption
rights provided for by the Constitution and Laws of the United States,
or the applicable laws of a~iy state, in and to the Premises as against
the collection of the Secured Indebtedness, or any part thereof; and
Mortgagor agrees that where, by the terms of this mortgage and secu-
rity agreement or the Note, a day is named or a time fixed for the
payment of any sum of money or the performance of any agreement, the
time stated enters into the consideration and is of the essence of
the whole contract.
20. Any notice, report, demand or other instrument authorized or
required to be given or furnished under this Mortgage and Security
Agreement to Mortgagor or Mortgagee shall be deemed given or fur-
nished when addressed to the party intended to receive the same, at
the address designated below, and delivered at such address or depo-
sited in the Unitec~ States Mail as First Class Certified Mail, re-
turn-receipt requested, postage prepaid, whether or not the same
is actually received by such party:
Mortgagor: W. B. Wiggins, Jr.
One Piedmont Center
Suite 712
Atlanta, Georgia 30363
Mortgagee: Continental Illinois National Bank &
Trust Company of Chicago
231 South LaSalle Street
15th Floor .
Ch icago, I 11 ino is 60693
Attent~ion: David W. Harvey
Either party may change the address to which any such notice,
report, d emand or other instrument is to be delivered or mailed, by
furnishing written notice of such change to the other party, but no
such notice of change shall be effective unless and until received by
such other party.
21. If at any time the United States of America or the State of
Florida or any other governmental authority in Florida shall require
initial or supplemental internal revenue stamps or documentary stamps
to be affixed to the Note or this mortgage and security agreement,
or any other initial or supplementary intangible or other tax to
be paid in connection with the Secured indebtedness, Mortgagor will
pay for the same with any interest or penalties imposed in connection
therewith. Any sums required to be paid, together with any penal-
ties assessed thereon, shall immediately upon a demand therefor made
by the Department of Revenue of the State of Florida, or other state
or federal taxing authority asserting jurisdiction, be paid, and if
not so paid by Mortgagor, may be paid b}~ Mortgagee and all such sums
so paid by Mortgagee shall, together wit}1 interest thereon from the
date of payment at the rate of interest payable under the Note after
maturity, become part of the Secured Indebtedness and be separately,
immediately due and payable. Failure of Mortgagor immediately to pay
the taxes and penalties, or to repay Mortgagee if Mortgagee at its
option has advanced the sums, shall constitute an Event of Default.
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R''R 348 PncE 242 l
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