The URL can be used to link to this page

Home My WebLink About0960 29. 5ec~ity Documents. This Mortgage secures the payment oE all sums and the perfcxmance of all covenants to be paid or performed by Mortyagor under the Security Docunents. The fail~e by the M~r-tgagcr to fully, faithfully and punctually perfcrm its obligations unc~r any other such ac~eements and documents shall constitute an Event of Default hereunder and shall entitle the Mortgagee to ~roceed in acccrdanoe with the remedies availaD?.e to it u~xxz the occ~urenc:e of an Event of Default. 30. Martgagee's Application of Payments. Unless the law requires otherwise, Mcrtyac~ee will apply payments under the Note and this Mortgaye in the followiny order and far the Follawiny p~urposes: (a) First, tA the payc~nts of Mcrtgac~'s costs and expenses (including, but not limited to, tax~s and insurance) (i) of a oonciemnation cr like proceeding, ( iiy of taking possession of the Martyayed Premises and of holding, using, leasiny, repairing, improving ar.d selling the same ( including but not limited to receiver's fees) , cr ii i) paid by Mca ty~gee an Mcrtyaga 's behalf p~suant to the Germs hereof; (b) Next, to the payment of Mortyagee's attorneys' fees and other legal ~ xpenses; (c) Next, to pay the am~unts then due to Martgagee w~der sectior: 8 above; ( d) Next, tr~ pay interest then due urxier the Note; ( e) Next, to pay interest ther. due on any E1at~e Advances that may hav~e been cnacie ~~rrsuant to Pa~ac~aph 25 above; (f) Next, to pay Erincipal then due under the Not~e; and (g) Next, to pay ~rincipal on any F'ui:~e Advances that may have been made pur- suant to Pa~ ac~aph 25 above. 31. Miscellaneous Provisions. ~ (a) Time. Ti.me is of the esser~ce with respect to each ar:d every oovenant, ac~ee- t and c~ili~ation of Ma tgac~Z under this Mcxtyage, the Not~e, and the Security Docunents. (b) Caamunications. Any notice, request, demand, consent, approval ar other c<~c:munication pcovided cr permitted hereurx3er shall be in ~itiny and be sent by the United ~tates first-class mail ~ registered mail retc~n receipt requested, postage prepaid adch-es- ~ed to the par ty fcr wham it is intended at the above provided adc~esses; provided, t~ver , ; that either pa~ty may char:ge its a~d~ess fcr purpo5~es of receipt of any such comnunication ~ ~~y giving at least ben (10) days ~itter. notice of such char.ge to the other party in the ` -~anner above prescr ibed. Mcrtyagar tnreby irrev~cably appoints, designates and authar i zes ~ ~l~ tyagee as its ayent to file fcr record any notices that Mortgagee deems .necessary cr ~ .iesirable to protect its ir.terest hereundE.=r or ur.der the Note or the Sec~ i ty Documents . uortgagor shall fo~rward to Martgagee copies of all notices given. or received by the ~1~xt~ayor to cr from any contractcr, si.ibcontr~tcr ar materialman ~ other person having a ~ iF~r. urx~er the E'lorida mechanic's lien laws, promptly upon the givir.g or receipt of such ~.otice, the nature of which r.otice is related to the failure to perform under this 1~reement, cr the Flarida mechanic's lien laws. Any r~otice mailed in accordance with the .~:hove ~rovisior:s shall be deemed received and effective a~ the 3rd Busir.ess Day after the ~ate on which :nai led. ~ ~ (c) Captions. Captions of parac~aphs contained in this Martgage are ir.serted ~ .r.ly as a matter of ca:venience and in no way define, limit, extend cr descxibe the scope of ~ ~his Mcrtyage ~ the intent of ar:y crovisior. hereoi. (d) Choice of Law. This Mcxtgaye has been r~egotiated, executed anrl delivered in ~ ~ State of Florida and s~all be yoverr~d by ar.~ construed in acccxdance with the laws of ~ ~rie State of Flcrida. i ~ (e) Federal Consurers CYedit Protection Act and Rec~~lation "2". Mcrtgaycr hereby ~ ~~e~es~ents and certifies that the ext~ensior. of credit secured by this Martyage is exempt ~ Fran any and all ~rovisior~.s of the ~deral Cons~an~s Qedit Protection A~t ('IYuth-in-Ler.ding ~ yct) ar:d Reyulation "Z" of the Hoard of Governczs of the ~deral Reserv~e System, because the ~ loan cr aedit represented by this Mcxtyage and the Note secured hereby is anly far business ~ x~ coran~rcial p~n-poses of the Mcrtgaycr other than ~ricultu~al p~poses and the ~oceeds o£~~ l ~ c~ loan ~e rot beir.g us~ed fcr persor:al, family, h~usehold cr a~icult~al p~poses. hl~t ~a~ hereby waives all riyht of hanestead exemption (if any) in the Martyaged Pre~nises \ ~ ~ ~ ~ ~ -10- PlGE VVU `I 3f,;,K ~hJ ~ ~U ~ a: - - - - - - - . . _ _ ~ - _ ~ ~ 3..: s~..-z:-..._ ,~.s.5,.>..N,_ t_ti.__~.~ ..«:+tr.=~tr_... ....-a~ a~3;<"':vm~~