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20 Thn~ Mo~~gsgw w~ll not perm~t a~y other I~ens to bs f~lsd afla~nst ths sa~d prem~s~s ~nd il snY such I~ens are i~1ed. whether paramount ar suDor-
~t~na~e ro. th~s mortpags. Mo~tgagor w~11 hsvs or esuss to bs h~d sa~d I~s~s d~uhsrp~d +mmad~ately
21 Mortgagee shaU have the nght to charge MortpaQo~'s accaunt w~th Mortp+~gee fa the ~ntersst snd pnnapal psyable ss prowded ~n the prom~ssory
no~e as such becomes due m accordance therewrth
22 If the Mortgagse ruq~ssts. Mortgago~ hersby covsnants and ayrees thst Mongapor w~ll furrnsh the Mortgagee annually trom the dste ol th~s
comp at~e ~opsrar ng statsmsents of Matyaga. i hs Mortpsgor
s~xa~a ca enda yrear shsll ~ottco c~de w~th he ~date here
nn1 of the Mortgagor anA annusl
speaf~ed. then the date which
~ne Mortgagee shall spec~fy shall be co~troll~ng Mortpagor shall supply Mortgapee with such other f~nsnc~ai statements ss Mortgagee m~y from t~me to t~me
request ,
23 It ~s agreed that nothing hsreln cona~nsd nor any transact~on rslated thereto shsll be construed or so operate as to reqwre the Mortgsgor to pay
~nierest at a rate greater than ~t is now Iawful in sucA cass to cont~sct ior, or to make a~y psyment or to do any act contr~ry to law. that ~t any cisuses o~
prov~sions here~n contamsd operate or would ptospectivsly operats to invalidate th~s Mortyafls w sa~d Note ~n whole or in part. then. such clauses snd
prov~s~ons only shall be held (or naught. as though not here~n conts~nsd, snd the remamder ol th~s Mortgsge shaU rema~~ operstwe and ~n fuu force and eHect.
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24 If all or any part of the monpa~sd propsrty shall bs damaged a taken through condemnat~on (wh~ch term whan used m th~s mortgage shsll ~n-
clu6e any damage or takin9 by any govs~nmsnt~i authonty. end any transisr by pr~vate sab m l~eu thereof), e~ther temporsnly or permansntty. tne enure ~n-
debtedness secured hereby shall at the opt~on of ths Mortpapee. Dscome immedietely dus and payable. TM Mortpa~ee shall be entitlsd to all rnmpensat~on ;
awards, an0 otMr payments a rslisi thsrofor ~nd is Aereby authori~sd. st its option. to commsnce, sppear in and prosecute. m ~ts own or the mortqsgoi s
name. any action or p?oCASdm9 retating to sny condsmnation, snd to ssttk or compromise any claim in co~necuon therew~th. AI! such campensst~on.
awards. damegas, claims. rights of action ~nd procesds and ths ri9ht thersto ~rs hereby assi9nsd by the Mongagor to ths Mortgsgee. who. af«~ deductmy
~hereirom all its sapenses. includ~ng attomey's (ses, may relsase any mor?sys so receivsd by it without sHecting the I~en o( th~s mortgage or may apply the
same in such manner as tha Mortgagee shall dete~m~ne. to the teduction ot ths wms secu~ed hereby. snd to any prepsymant charge here~n provided. and any
balance o( such moneys then remain~ng shell be pa~d to the Mortg~gor- The Mortgagor egreas to execute Suth further ass~~. ments o1 any compensst~ons.
awards. damages. claims. nghts o( action and proceeds as the Mortgsgee may requue.
25 Th~s mortgage shall be construed as s security agreement under the Flonda Umform Commerual Code
26. Othe~ prowsions
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IN WITNESS WHEREOF, the Mwtgagor has executed these presenu under seal the day and year first above written.
Signed, sealed and delivered in the presence of: THIS IS A BALLOON MORTGAGE AND THE FINAL PAYMBNT OR THE BALANCE
DUE UPON MATURITY IS $ 45,000.00 , TOGETEiER WITH ACCRUED INTEREST, IF ANY, AND AL~. ADVANCEMIIITS
~tADE BY THE RT G E UNDER THE OF THIS MORTGAGE. f, ~
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Sunshine Builders of ~YY.1.~t~j~';`~:~p/~ a~~
~ ' p ~ ~"i,~.,;~M
~ ~ ~ _ =
~c~ ~ ~ by: ~ _ ~ _ a~l
~ - mes F. Herndo ~ , ~y 1~;~~~~~
, INDIVIDUAL ACKNOWLE E / ~ '
i . GGi--~-~ ~ ' s '~S'EAI.)
~
; ~ ann Herndon, Seeretdry~~~~«~+~"`
STATE OF
: ss
~ COUNTY OF ~
~
~ The foregoing instrument was acknowledged before me this day of
€
~
~ 19 , by and •
~ My Commission expires:
~ NOTARY PUBLIC
~
3
t
~ CORPORATEACKNOWLEDGEMENT
f
~
STATE OF ~ORIDA 1
` : u
y COUNTY OF ~T LtTGL _ 1
The foregoing instrument was acknowledged before me this ~~day of July ~
19$~_, by James F Herndon and Joann Herndon ,
nshine Builders ~
~ respectively ~resident and $ac~t~?p~ -
~ of St . Lucie , Inc . , e ` 'M}; oorporation, on beh~lf
~ . ry ~ ~cti ~,"":'~'i:~~1~C. State of Flor
: of said Caporetion. _ :z : . ~ - ida at ~s
F ° " ~o Aug. 12
ires , 1984.
i- :V 1,~6r'`
My Commission expires: ~i
Jr~,;X 4~ PAGE N TARY .BL ,
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