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HomeMy WebLinkAbout0927 ~ f . , . ~ . ~ ~ i i 29. Security Documents. Tfiis Mortgage secures the payment of all aums and the ` performance of all covenants to be pnfd or performed by Mortgagor under the 9ecurity ooc~rnents. Tfie failure by the lrbrtgagor t~o fully, faithfully and punctually perform its obligations under any other such aigreements and doctsaents . shall oonstitute an Event of ~ ~efault hereunder and shall entitle the Mortgagee t~o prooeed in aooordanoe with th~e remedies available to it upon the ovcur're?~oe of an Event of Default. 30. M~' 's lication of Pa nts. UnLess the law requires otherwise, Nbrtgagee , will apply payments r the Nbte an t s Mortgage in the following order and for tt~ 4 follawic~g purpo~es: (a) First, to the payaients of Mbrtgagee's oosts and expenses (including, but not ` 1 imi,t~ed Go, taxes and insuranoe i) of a aonde~nnatibn or li ke prooeed i ng i i) of taki ng possession of the l~brtgaged Premises and of h~lding, using, leasing, repairing, improving and selling the same (including but not limited to receiver's fees), or, (ifi) paid by Mort~gagee on Nbrtgagor's behalf pursuant t~o the t~ecros h~reof; (b) Next, to the payment of Mortgagee's attorneys' fees and other legal expenses; (c) Next, t,o pay the amounts then due t~o Mbrtgagee under section 8 abo~ve; (d) Next, tro pay int~erest then chie wtcler the Note; _ (e) Next, tro pay interest then due on any Fliture Advanoes that may have been macle pursuant to Paragraph 25 above; . (f~ Next, to pay principal then due under the Note; and (g) ~Next, t~o pay p~incipal on any ELture Advanoes that may have been made pur- suant tA Paragraph 25 aba~e. 31. Misoellaneous Provisions. ~ (a) Time. Time is of the essenoe with respect to each and ev~ery ootirenant, agree- ' ment and obligation of trbrtgagor unc3er this MorGgage, the Note, and the 9ecurity Documents. i (b) Camwnications. Any notice, request, demand, oonsent, approval or other j caRnunication pravided ar permitt~ed hereunder shall be in writirg and be sent by the United States first class mail ar registered mail return reoeipt request~ed, postage prepaid addres- sed to the party for whan it is intended at the anove pravided addresses; prwided, howev~er, that either party may change its address for purposes of reoeipt of any such c~~nunication by giving at least t,en (10) days written n~tioe of such change to the other party in the manner at~ov~e prescri.bed. Mort,gagar hereby irnevocably a~ppoints, designates and authorizes j Mortgagee as its agent t~o file for r~ecord any notices that Mortgagee deems necessary or desirable t,o protect its interest hereunder or under the Note or the Security Documents. Mortgagor shall forward to Mortgagee copies of all notices given or received by the~ Mort~gagor t~o ar 5ran any oontractor, s~.boontractAr or materiaLnan oc other person having a lien under the Flarida mechanic's lien laws, pcomptly upon the giving or receipt of such notice, the nature of which notice is related to the failure to perform under this Agreement, ar the Florida mechanic's lien laws. Any rr~tioe mailed in accordance with the above pravisions shall be de~aned reoeiv~ed and effectiwe on the 3rd eusiness Day after the date on which mailed. . (c) tions. Captions of paragraphs contained in this hbrtgage are inserted only as a matt~er of oonvenienoe and in ra vaay define, limit, extend ar describe the s~oope of this trbrtgage ar the intent of any p~avision hereof. (d) Choioe of Law. Tfiis Mbrtgage has been negotiated, ex~ecuted and delivered in the State of Florida shall be c~a~rerned by and oonstrued in ac.~oordance with the laws of the State of Florida. (e) ~+ederal Consuaers Cnedit Protection A~ct and Regulation "Z". M~rt~gagar hereby represents and oertifies that the ext~ension of cre it secured by this Mortgage is exempt fran any and all pravisions of tttie l~deral Qonstsoers Credit Protection~ Act (nuth-in-Lending Act) and Regulation "Z" of the Board of Governors of the l~deral Raserve S~stsm, because the loan ar credit represented by this M~rtgage and tl~ Note secured hereby is anly for business or oamnercial purposes of the Mbrtgagar other than agricultural purposes and the pcooeeds of the loan are not being used for personal, fanily, household or agricultural purpoges. Mort gagor hereby waives all right of haaestead exemption (if any) in the Mbrtgaged Premises. , -10- • nq^ ~ BOOK cS~~ PAGE e~~ .