HomeMy WebLinkAbout0984 AUI?!:tit~11:~4 Kc1. 1'!'t) Gk:;~i)it:1'f t:i) 1' ~'i I' l::1'I~E 1.11)l:!t
, _ : ? ~ (t~l~c~; i~•rt:t~i:~~r ~:=,r~: c:?t:,::c;::s r:l~l:::~~ ~ l~~~r~?.;ti) PSl-2-1911
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'fhr follotJins; ~~t'ovis.io~i i~: li~~rct~y iricvrpnr~;tc•cl a?~~l c~tlu•rtris~~ ~u.e:tc~
n part uf tl~at c~Y't:~iu (:r;i~lu~it cd Ya~•uicnt ~:idc~r (:.itl~ ~:iiilcrc~:~ r:it:c~
chan~;e:; evcry S__ years) c~f tl?e ::aine elcitc ~;i~.'e~? by ll?E~ tuide•rsif;»~•d
(tl~e "l;orro:a:~r") [c> ~;erute lturroar~~r':: Gi-:~d~:~trd N<iy?::ci~[ Notc•
(~vi[1~ interest r,eCc ch~in~;~•s evr.ry~ 5 yczr~:) : ~
l~Cl:EA`.: 1 t: U\Pt\lU i'~:l~C il':1;, t;:11 .i:iCE 'i'U RF: SI:t:L'.~l:ll.
lSoi-rot,;~~r and l.t~i~~r~r ri~co~;n~ •r.c that l~ercui~:c~ ui [lic~ op~•r. t ic~n c+~lcl
c~Cfect of the ~~rc~visiun, uf Sections 6 and 8 of the ::ote as .
set furth in S,.ctaons 5, 6~mcl 8 of tliis Kid4r (tl~e "interest
C.1j~1C~11"L~1L1011 Yrovisiori:.:") , tlic i~n~~aid p~-_i.iicipal ballncc o: ti~c~
lo:~n evidt~nc~c1 Uy tlie l~otc~ i;~ay c:tc~ecl the orif;inal 1I1C1L~I'E:CjilC'SS
~f :~.33 00.~0 le£errec? tc~ o~a pct~e o,ie of thc Sccur_it~~ ~In-
strur~ent. Borrow~~r ancl I.cnder agr.ce that this Seci~rit~ Instrumeilt
is ~;iven not oiily to secure ttie paS~r.^.eiit of ttie original indebtedness
cvidencc~d by the I~otc~ and the ~ther mat:ter~ referrecl to on paF;e one of
tt~e Seci~r:ity Instrierac:nt, biit also to sE~cizre atiy increases in such
priucip~l Ualance ari~in~; by the effect af th~ Interest Ca~italization
Yro~isioz~s. II01"L'OLdL'1 c"lllcl Lender a~;rce that th~ suns wtiici2 becoc~~~ outstandin~; ~
~
unpaid ~nd o~ai.u~ hecause ~f tl?e effect o£ the Intcrest CapiYalizaYiaa I'ro- '
visions ancl beco:~~e a p<~rt o.f the uupr~id pr_incipal balance are in effect and
arc elc~em~ct to t~c fuiure aclvances of. ~r.i.zicip =1 fro:n l.enci~r to Borro:~er and
,
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~ as sucl? are secured by tt~c l..ien of the Seci~rit} Instrui:,~•,it as if such sums
I
~ werc adv~nced Erom T.CIl(ir-_'r to Rnrrowe~r o?~ th` ci~ te af tt?e c::ecuti.oii hereof .
~
t At no ti~~c~ shall the total outstanding unpaid princi~~,il bala~ce ~of. the 1o:tn
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' - eace~~d 125% of the oraginr~l pr:ir.cipal anount of tlie ~:ott~. It is tlie iii-
~ tent of the Burrot.er. ~iud Lec:der thaL the su~ s ~Jhich beco~:,e out~tanding, unPaicl
~
~3nd o:.in~ because of tl~e ef.tect of tl~~~ Interest Capitalization Pro~~isions
are dc~~med to be "future zdva:ices" as provided in Section b97.04, 1'lori.da
Statutes (198.1) and be and r~re securrd by the lien o£ th~~ Sec.tirity In~ctru-
r?ent as of thc~ d<ite of the ~_xecution 1?ereoL as set fart-h in such statute.
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~ ~,~=t TERF~NEWHOUSEBorrowt_r
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i . , " ~ • - ~ I L . NEWHOUSE sor x-o~, rr
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; 610.340 61`73'79 ~,~ECOr~
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