HomeMy WebLinkAbout0924 20 That Mortgagor wdl not permii any other I~ens to bs tded sga~nst the sa+d prem~sss and ~f any such ?~ens are hled, whetr~er paramount o~ suDo.
~f~~~.,~e to th~s mo,lpage. Mortgegor wdl havs or uute to be hsd ss~d I~ens d~u~arged ~mmed~stely
21 Morigagee shall ~ave the nght to charAs Mor[gagor s account wrth Mortpaeee for ehQ ,neerast snd pnnc~pal Fayable as p~av~dea u~ the prom~ssory
nata as such becpmes due in sccorde~ce Iherswith
22 tf ~he Morrgagee raquests. Mo~tgago? hareby covenants snd apress that Mortgsgor w~11 furmsh tha Mortgagee annually irom ~he aate ot ~h~s
~norigage ~nstrument. unless some othe~ dste ~s sgresd to bstween the parass ~n wnUng. a cert~hed audned hnanasl statemen~ of the Mortgagor anA annual
~ omplete operat~ng statements of Matgagor If the Mortgaflor's (~scal a utend~r year sAatl not co~nc~de w~th t~e date here~n spec~(~ed. then the date wh~ch
t~,e Morlgagee shall spec~fy shali be controlling Mo~tgtgor shall supply Mortg~pee with such othe~ finencial slatements ss Mortgagee may }rom t~me to t~me
request
23 It ~s agraed that noth~n8 here~n conta~ned nor any ~rsnsact~on rslated thereto shall be const~ued or so operate as to requ~re the A+longago? to psy
~nterest at a rate greater than ~t is now lawful ~n such cass to eo~tr~ct far, o~ to m~ke sny payment or to do any act contrary to law. that ~f any cisuses or
c~~uv~s~ons herem conta~nsd opera~e o~ would piospecavely opsrats to mvabdste th~s Mortgaps or sa~d Note ~n whole or ~n part. t~en. such clauses and
v~o~~s~o~s onty sl~alt be held for naught. as though not herein conta~ned, and the rema~nder of this Mortgags s1?aH remain ope~aave and ~n fuN lorce and eHect
24 If all or any part ol the mortqaped propsrty shall be dama~ed or taken through condemnst~on (wh~ch term whe~ used ~n th~s mortgage shalt ~n-
ciude any damage or tak~ng Dy eny govemmenta! authonty. and any transle? by pnvste ssb ?n lieu thereof), eithar temporsrdy or permanantiy. tne enure m-
debteAness secured hs~eby shall st tM opt~o~ of ths Mo?tpaQse. become immed~ately dus and payaDle Ths Mortyagee shsll be enutled to all compensat~on
awards. s~d other paymants or rsl~ef thsrstor snd is Aereby author~zed. ~t its option, to commsncs. appsar i~ and prosecute. ~n ~ts own or the mortgagor's
name, Any sCdOn or ptoCeedmg rolaUnp to sny condemnatror?, and to s~ttle or compromise any claim in conneciion therewrth A11 such campensaUOn.
awards. demsqes. cla~ms. r~ghts of act~on and p~ocssds and tt?s ripht thereto srs Mreby ass~yned by tAs Monga~or to !he Mortgagee. who. af~e~ deduct~n9
thereirom all ita expenses. ~nclud~ng attorneyb tses. rr~sy releese any mo~~ys so reee~vsd by ~t w~thout aHecting the I,en of th~s mortgage or m~y apply the
same ~n such manner as the Mortpagss shall determ~ne, to ths reduction of ths wms sacured hereby. and to any prepayment chsrge here~n prowded. and any
balance of suth moneys then rama~mng shal! be paed to the Mortpagor. The Mortgagcx agrees to execute such further ass~~r ments o( any compensst~ons.
awards. damages. cla~ms. nghts of actron snd proceeds aa ihe Mortgsgas may rsquue.
25 Th~s mortgage shall be construad as a sscunry agreement under tha Flonda tlndorm Commerua~ Code
2s o~ne? ptov~sion5 In the event this mor*_gage is junior and inferior to any other mortgage and/or
lien on the above-described real property, and this mortgage is given with full knowledge of such
su~erior mortgage and/or lien, that said superior tnortgage and/or Iien will be paid by mortgagor in
accordance with the terms and conditions thereof without regard to any grace period as contained
therein and failure to timely make any payment due thereunder will constitute an automatic default
in this mortgage and the whole of said principal sum seeured hereby shall immediately become due
and payable at the option of the mortgagee. Additionally, the default in the performance of any
of the terms, provisions, covenants, or agreements contained in any superior mortgage and/or Iien,
er the commencement of any action to foreclose any said superior mortgage.and/or lien, shall
~,onstitute an automatic defauZt in this mortgage and the whole of said principal sum secured hereby
st;all i.mmediately become due and payable at the option of the mortgagee.
IN WITNESS WHEREOF, the Matgago? has executed these presents under seal ihe day ~d year first above written.
Signed, sealed ~d delivered in the presence of:
~
ISeal1
h DeR ss Jr . ~ -~~•~w~~
- - - - - - - - (Sc al)
R„ ..w•~
INDIVlDUAL ACKNOWLEDGEMENT
STATE OF ~ORIDA ~
: ss
Ct~UNTY~t?~~ S~• LUCIE ~
.
> •
.''YThe tc,~regoing instrument was acknowledged before me this 3rd day of April
. . :r: .
; iq~.$S.'~.,tiy.~':~rF..Tose~h J. DeRoss, a sinQle adult ~x
o .
My Cdqtrt~isi~Qh e~ipires: '
~ .ti~AR'f ~t18~K ~T•~T~ 0= GLO~.IDA NOT~iRY PU8 C J ~~C ~
~`'~1~;~:M;~S'^vN EXf ~kES JULY 4 i?37
B'.~idDLD' I~i;cU GEI~ERr1L I~vSU+ZA.'.Ci U?:D
CORPURATE ACKN0INLEDGEMENT
STATE OF ' ?
: ~s
COUN7Y OF 1
The foregoing instrument was acknowledQed befwe me this day of ,
19 , by and
respectively President and Secret~ry of
• e wrporation, on behalf
of said cwporation.
My Commission expires:
~~~K t~~ NOTARY PUBLIC ~
- 3
'Y, ~Ya ~;.~'^^,~...,~~V ' _>8~.. '~&7.S vsi~~~-..~:..
„'~L